Dominium Completes 16 Multi-family Sales in 2018

Dominium, headquartered in Minneapolis, Minn., and the second largest affordable housing developer in the nation, announced today that it sold 16 of its multi-family properties in calendar year 2018. These transactions included the sale of 1,075 units valued at over $18 million. Since 2010, the company has sold over 100 properties with a combined value in excess of $500 million.

Dominium continues to grow its portfolio of properties, and now owns and manages more than 30,000 units in 22 states. “We are on track to be the nation’s largest affordable housing developer as we accelerate towards owning 40,000 units,” said Brendt Rusten, Dominium Partner and Senior Vice President. “A part of that process involves selling certain properties – when it makes sense – to redeploy capital and fuel future growth.”

The properties sold in 2018 are located in Minnesota, Wisconsin, South Dakota, Georgia, Florida, Texas, Iowa and Arizona. Representing Dominium in these transactions were, among others, CBRE, LIHTC Advisors, MN Brokerage Group, Greysteel, and Marcus and Millichap. “We’d like to recognize the vital role played by these organizations in not only facilitating sales but also in presenting new opportunities that fit our growth strategy,” said Rusten, who explained that Dominium “actively seeks out properties to buy that will add value to our portfolio.”

Dominium works closely with local communities to solve their toughest affordable housing challenges. The company’s methodology employs quality processes, products, and materials, and Dominium typically maintains ownership and manages its properties for a minimum of 15 years. This long-term approach ensures that Dominium properties deliver excellent value to all of its stakeholders.