Minneapolis-based Dominium, an apartment development and management company, recently made several changes to the company’s ownership structure following the death of co-founder David Brierton.
Dominium purchased the ownership interest of both Brierton’s estate and of co-founder Jack Safar. Safar and Brierton’s estate will remain owners in 170 existing partnerships but have sold their interest in any future new developments and business ventures.
“A new generation of ownership has taken the helm at Dominium,” said co-managing partner Paul Sween. “We’re proud to have 40 years of history, built on the solid foundation laid by our founders, and this arrangement will help us stay on track for another 40 years and more.”
Co-managing partners Sween and Armand Brachman also announced that Mark Moorhouse has been named a partner for Dominium Development & Acquisition. Moorhouse has been with Dominium since 1996, working on portfolio acquisitions, new-project development and the acquisition of existing apartment projects. Moorhouse has played a role in helping the company grow from managing 6,400 units in 1996 to more than 20,000 units in 21 states.