Domus Development™ was created in January 2010 to specialize in creating distinctive national-caliber student housing in secondary markets. Believing strongly that students at non-Tier 1 schools deserved high quality, highly amenitized housing Mr. Jakimier was able to convince investors and lenders that such development also made excellent financial sense. Despite 2010 being a challenging time to start a development company and having been told that "no investor in New York or bank in Chicago" would ever back such a development concept his first investor was Bill Zeckendorf and his first committed lender was one of the top five banks in the country. Disappointed in the tendency for most developers to do the "same thing" in every market it is important to Mr. Jakimier to design developments with a strong sense of place.
In late 2015 Domus added Asset Management to the services it offers it clients.
Eric O. Jakimier
Eric Jakimier has spent the past thirteen years specifically concentrating on student housing, both university-owned and privately-owned, across the country. He has been responsible for everything from site selection and acquisition, through site due-diligence, design consultant management, lender contract negotiation and negotiations with governmental agencies to construction management and project turnover including project accounting and reporting to investors and other interested parties.
In late 2002 he had the opportunity to join JPI’s On‐Campus Student Living team developing projects for Virginia Commonwealth University, Virginia State University, North Carolina State University, University of Pennsylvania – California, Clark University in Atlanta and University of Louisiana – Monroe. Mr. Jakimier was also involved with an Off‐Campus student living development in Gainesville, Florida and luxury apartments in downtown Dallas. Following his work with JPI, Mr. Jakimier moved to Place Properties to manage their development team west of the Mississippi River and was involved in both privately owned military and student housing developments in Texas, Michigan, Illinois, Missouri and California. Primary among these was an adaptive reuse of a historic building in Chicago. Mr. Jakimier was successful in getting the building listed on the National Register of Historic Buildings which generated substantial project funds from syndication of the tax credits. Mr. Jakimier joined JLB Partners as Vice‐President of Development for the Student Living division. During his tenure at JLB Mr. Jakimier pursued projects in Arizona, Georgia, Maryland and New Hampshire. In February 2009 Mr. Jakimier closed one of the very few new construction multifamily deals in the country in that financially rocky year, a $44M development in Tempe, Arizona near Arizona State University. Mr. Jakimier was able to rezone and replat the property, manage the design team which produced a 700+ sheet set of drawings, obtain full building permits and close the financing in just over six months which allowed the project to begin a year ahead of the anticipated schedule.
Prior to developing student housing properties Mr. Jakimier created housing at both ends of the spectrum: both luxury apartments and project-based Section 8/Low Income Housing Tax Credit housing for homeless individuals. One of these, a development for HIV+ homeless individuals, had eleven sources of financing and twenty-two different agencies involved.
Mr. Jakimier is also a licensed architect in the State of Texas.
Marc A. Sullivan
Mr. Sullivan joined Domus Development in 2015 as the Vice President of Development and Operations. Over the past 10 years, Mr. Sullivan has worked in various capacities in the real estate field, including financial analysis, asset management, and development.
Following completion of a master’s degree in Real Estate, he began his real estate career in student housing development, with responsibility for the financial analysis and asset management of student housing projects located in Texas, Florida and Missouri. In 2007, he joined Reef Points Advisors as a partner. There he was involved in broader real estate asset types, adding luxury multi-family, office, retail and industrial assets to his real estate portfolio experience. Over the course of eight years with Reef Points, Mr. Sullivan handled all financial analysis and underwriting, asset management, and development for the partnership resulting in the acquisition and development of over $165 million in projects in Texas, California, Missouri and the District of Columbia.
In joining Domus Development, Mr. Sullivan brings his expertise in real estate, finance, and development to a vibrant and successful development company. Mr. Sullivan is also a licensed real estate broker in the state of Texas.
© Domus Development LLC 2017