Robert M. Dominy
Merion Realty Management, LLC
Robert Dominy joined Merion Realty Management, LLC (“MRM”) in 2009 to serve as its President. MRM is owned by the principals of CMS Companies (“CMS”) which is an investment firm located in Wynnewood, PA. CMS directly owns and controls a portfolio (“Portfolio”) of 31 apartment properties (approximately 8,400 units). MRM was formed for the initial purpose of establishing an in-house property management company to manage the Portfolio. As President, Mr. Dominy is in charge of transitioning property management services for the Portfolio from third-party property managers to MRM as well as supervising all aspects of property management for the Portfolio.
Prior to joining MRM, Mr. Dominy spent 30 years in property management. Following his graduation from Evangel University in 1978 with a B.A. in Communications, Mr. Dominy began his career as a marketing representative at General Investment and Development (“GID”) in Boston, MA. Over the next seven years, he was promoted six times and became known as the top property manager in the company.
In 1985, Mr. Dominy was promoted to become Northeast Regional Director for GID, and over the next nine years, he directed all operations for 4,000 units situated in New England, New York and Pennsylvania. During this period, he produced 67% of the net cash flow for GID with only 40% of the assets. In 1991, he graduated from Babson College with an MBA in Marketing. Babson has been recognized for a number of consecutive years by both U.S. News and World Report and by the Financial Times as being the number one college in the nation for entrepreneurial studies.
In 1996, Mr. Dominy accepted a position as Chief Operating Officer for GDC Properties, LLC in Hawthorne, New York. In this capacity, he assumed control over 4,500 units from New York to Florida. He was charged with the challenge to execute a number of tax free exchanges as the company moved from a portfolio of A, B and C assets to one with only A assets. In 1996, he increased same store NOI by 10.6% and in 1997, he increased same store NOI by 14.1%. He also increased the value of a 1,200 unit property in Pittsburgh from $11M to $20.6 M and a 650 unit property in Tampa from $12 M to $16.7M, thereby enabling the company to execute its exchange strategy.
In 1998, Mr. Dominy was recruited by PRG Real Estate Management, Inc. (“PRG”) out of Philadelphia, PA to become its Sr. Vice President. At the time, the company was a loose collection of nine assets and 3,300 units from Pennsylvania to Florida. In 1999, he increased same store NOI by 25.2%, enabling the company to enter an era of expansion. By 2005, Mr. Dominy was promoted to President of PRG. In this capacity, he also assumed responsibility for acquisitions as well as operations. As a result of his efforts, PRG acquired 6 communities in 2005, 3 in 2006, 6 in 2007 and 12 in 2008. The portfolio at the conclusion of 2008 consisted of 48 properties, and 12,300 units in 11 states. Over the 10 years since he joined PRG, he increased the value of the company’s equity by 1,027%.
