Robert M. Dominy Jr. founded Chasseur Realty Investors, LLC, in March, 2014, as a boutique real estate investment and management company with a focus upon investing in and managing multifamily apartment communities throughout the Mid-Atlantic, Southeast, Texas and Arizona. Chasseur’s mission is to specialize in turn around opportunities which will produce a superior for our investors. Chasseur will also focus upon third party asset and property management for a fee, and is capable of performing extensive renovations. Chasseur is closely affiliated with its brokerage arm, Sawgrass Realty Investors. We also plan to open an office in Pensacola, Florida. Over the course of his 35 year career in real estate investing and managing, he has managed approximately 40,000 units.In 1985, Mr. Dominy’s career first took on prominence when he became the Northeast Regional Director for General Investment and Development. Over the next nine years, he directed all operations for 4,000 units situated in New England, New York and Pennsylvania, at one point earning as much as 67% of the company’s profits despite managing only 33% of their assets.In 1994, Mr. Dominy was recruited away from GID and assumed control over the Mid-Atlantic region for Winthrop Financial. Based in Washington D.C., he was responsible for directing operations at nearly 10,000 units located in Virginia, Maryland and Pennsylvania. At the time that he stepped into this position, the Mid-Atlantic region had gained the reputation of being the most financially challenged area within Winthrop’s 60,000 unit portfolio. It was a region dominated by very large properties, old assets thought impossible to turn around. However, by 1995, after changing virtually every aspect of operations, he converted it into the company’s star financial performer, producing a 15.5% increase to NOI, the largest of any region within Winthrop.
In 1996, Mr. Dominy was recruited away once again, and became Chief Operating Officer at GDC Properties in Westchester County, New York. As COO, Mr. Dominy increased GDC’s same store NOI by 10.6% in 1996, and then increased it once again by 14.1% in 1997. He turned an operating loss of $533K in 1995 before his arrival into a positive NCF of $2.8M in 1997. He also turned around two troubled communities, one a 650 unit property in Tampa and the second a 1,200 property in Pittsburgh, and enabled the company to execute tax free exchanges, trading into smaller properties of substantially higher quality. The Tampa property, which previously had been valued at $12M with $11M in debt, sold for $16,650,000. And the Pittsburgh property, previously valued at $16M with $16M in debt, sold for $20.1M. The success of their turnaround was the genesis of a new, financially viable company.
In 1998, Mr. Dominy was recruited by PRG Real Estate Management, Inc. based in Philadelphia, PA, to become its Sr. Vice President. At the time, PRG was a loose collection of nine assets and 3,300 units from Pennsylvania to Florida, and the firm had only established its own management company 13 months prior to his arrival. However, by 1999, Mr. Dominy increased PRG’s same store NOI by 25.2%. That enabled the company to undergo extensive renovations to the existing portfolio, and also to enter an unprecedented era of expansion. By March of 2005, Mr. Dominy was promoted to President of PRG, and over the next four years the company acquired 29 properties. In fact, by the time of his departure in February of 2009, he had increased the company’s equity from a mere $18M at the time of his arrival, to $281M by the time of his departure. And the company had grown from 9 assets, and 3,300 units, to 42 assets, and 12,200 units.
In early 2009, Mr. Dominy was approached by a Philadelphia based private equity firm with a troubled real estate portfolio which was seeking to form their own management company. After reaching agreement to form Merion Realty Management, LLC, Mr. Dominy built the company in less than four years from a shell organization to 39 communities, 10,669 units in 10 states with 320 employees. Under his direction, Merion achieved same store NOI increases of 10.6% in 2010, 10.5% in 2011, and 11.3% in 2012.
Mr. Dominy holds a B.A. in Communications from Evangel University, and an MBA from Babson College. Babson has been rated #1 in the country for Entrepreneurship for over 20 years. He is also a real estate broker in Florida, Georgia, Alabama, Maryland and Pennsylvania. After many years of service, he served as First Vice President of the Greater Boston Real Estate Board in 1994. And he was Chairman of the Advisory Board to Florida State University, College of Human Sciences, from 2005-2007.