DOME EQUITIES, LLC other names

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Adviser Profile

As of Date:

06/25/2024

Adviser Type:

- Large advisory firm


Number of Employees:

11 -15.38%

of those in investment advisory functions:

3


Registration:

New York, Terminated, 10/4/2013

Other registrations (1)
AUM:

951,881,688 -35.88%

of that, discretionary:

951,881,688 -35.88%

Private Fund GAV:

951,881,688 -34.71%

Avg Account Size:

55,993,040 -50.97%


SMA’s:

NO

Private Funds:

17 4

Contact Info

212 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
1B 1B 1B 848M 636M 424M 212M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Recent News

Miami’s Surf Club Four Seasons Lands $290M Construction Loan
02/22/2021

The Blackstone Group’s Debt Strategies Fund provided the loan ... Pollack Shores and their joint venture equity partner, DOME Equities with a 10-year fixed rate term, with four years interest ...

multihousingnews.com


Private Funds Structure

Fund Type Count GAV
Real Estate Fund 17 $951,881,688

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Private Funds



Employees




Brochure Summary

Overview

Firm Description Dome Equities, LLC, a Delaware limited liability company (“Dome Equities” and, together with its affiliates, including Dome GP, LLC and other affiliated general partner entities, “Dome”) is a private equity real estate investment management firm founded in November 2010. Dome Equities, Dome GP, LLC and other affiliated general partner entities operate together as a single investment management business. Dome’s business also includes the operating and management of real estate investments sponsored by a prior related entity of Dome. This Brochure describes only that segment of Dome’s activities that might be deemed to be an investment advisory business as opposed to the direct property investments of the prior related entity of Dome. The principal difference between the two business segments is not the underlying assets, which are real estate properties in all cases. The principal difference is instead one of ownership and investment management structure, given that since November 2010, Dome’s management has elected to employ the indirect Fund-PropCo investment model described in this Brochure. Dome is currently providing investment advisory services for one type of client— private, unregistered investment funds (each a “Fund” and, collectively, the “Funds”), each a limited liability company or limited partnership, which invests in entities (usually a limited liability company) whose primary asset consists of real estate, with a focus on the residential sector (each such entity, a “PropCo”). Most PropCos invest in income- producing, improved real estate, although certain Funds have invested in PropCos pursuing ground-up real estate development projects. Each Fund is managed in accordance with applicable offering documents (e.g., private placement memoranda) and limited partnership or other operating agreements (collectively, “Governing Documents”). As of December 31, 2023, Dome acts as investment adviser to 17 Funds with total regulatory assets under management of approximately $980.4 million on a discretionary basis. Four such Funds, Dome US Multifamily Fund I, LLC, Dome U.S. Multifamily Fund II, L.P., Dome U.S. Multifamily Fund III, L.P. and Dome U.S. Residential Fund IV (A), L.P. (together with their respective dedicated parallel funds, as applicable, “Fund I”, “Fund II”, “Fund III” and “Fund IV”), differ from most other Funds in that they are structured to invest in multiple properties (through multiple PropCos) instead of a single property. The investment objective of each Fund is to achieve long-term capital appreciation and current income by investing in PropCos whose primary asset is real estate. Dome believes that each PropCo to date has characteristics of a joint venture between the relevant Fund and an independent, local real estate operator identified by Dome as qualified to source, manage (and/or develop, as applicable) the underlying real estate property. Such local operators typically serve as the managing member of the relevant PropCo, with the applicable Fund holding a non-managing member interest. Dome provides each Fund with such investment advice and supervision as it considers necessary for the proper supervision of the
investment of assets of the Fund. Dome furnishes the investment program for each Fund, consisting of a review of the real property proposed to be purchased by the relevant PropCo and the identification of each local real estate operator, as well as monitoring each investment on a continuous basis and implementing the sale of the underlying real estate which, for all Funds other than Funds II, III and IV, requires approval of a majority in interest of the members of a Fund. Dome will supervise the purchasing and selling of all real estate investments held by the Funds. Dome will determine what portion of the other assets of the Fund should be held uninvested, subject to the restrictions of the Governing Documents of the Fund then in effect. Dome GP, LLC is included under the umbrella registration provisions of Part 1, Form ADV, Schedule R, as a “relying adviser” of Dome Equities. Except for certain matters that are subject to approval by a majority or more in interest of the investors in a Fund, Dome shall have sole and exclusive control over the Fund and the power and authority to take such actions from time to time as the Manager may deem necessary or appropriate with respect to the management and conduct of the Funds. Dome provides its investment management services through its officers. Decisions regarding specific real estate property acquisitions and dispositions are made by Dome’s investment committee, which is comprised of Dome’s Chief Executive Officer/Chief Investment Officer, Eric D. Jones, Dome’s two Managing Directors, Jeremy Klein and Dan Bourla and Dome’s Vice President of Portfolio Management, Gian Filippo del Bono. Dr. Nitin V. Doshi, who has a minority membership interest in Dome and Eric D. Jones, or their affiliated entities may provide short-term acquisition financing for certain Funds. As a general matter, each Fund is managed in accordance with its investment objectives, strategies and guidelines as set forth in its Governing Documents and is not tailored to the individual needs of any particular investor. Investors in the Funds do not have authority over or participate in the day-day management of the Funds, and an investment in a Fund does not, in and of itself, create an advisory relationship between the investor and Dome. Interests in each Fund are privately offered pursuant to Regulation D under the Securities Act of 1933, as amended, and are exempted from registration under certain state laws. Each Fund qualifies for exclusion from the definition of an investment company under section 3(c)(1) or section 3(c)(7) of the Investment Company Act of 1940, as amended. Principal Owners Dome is principally owned by its senior management and their families. The single largest direct owner of the firm (41%) is an entity for Mr. Eric Jones, Dome’s Chief Executive Officer and Chief Investment Officer. Mr. Jones also directly owns the managing member of each of the Funds (or, in the case of Funds II, III and IV, the manager of the relevant Fund II, Fund III and Fund IV general partner). Dr. Nitin V. Doshi and Mr. Todd Cather and their entities associated with the Doshi and Cather families also own direct equity interests in Dome.