NMHC top 50 lists released

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The National Multifamily Housing Council (NMHC) released its list of the largest firms in the US multifamily housing industry. The firms are ranked by units in buildings with 5 or more units. The results are based on self-reported data provided in response to a survey conducted by Kingsley Associates and the NMHC. Separate categories are provided for owners, managers, builders, developers and syndicators.

Owners

Ownership can be full or partial. In partnerships, the owner is defined as the entity that “exercises effective control of the asset.” The top 5 owners are:

MAA with 100,031 units

Equity Residential with 80,624 units

AvalonBay Communities with 79,886 units

Starwood Capital Group with 75,409 units

Morgan Properties with 70,052 units

For a list of all firms on the NMHC top 50 owners list, see here.

Managers

The managing firm is defined as the one that performs the property management functions such as leasing and property maintenance. The top 5 managers are:

Greystar Real Estate Partners with 492,967 units

Lincoln Property Company with 203,342 units

Pinnacle with 169,002 units

Alliance Residential with 138,650 units

FPI Management with 122,479 units

For a list of all firms on the NMHC top 50 managers list, see here.

Builders

The builder is defined as the firm responsible for the physical construction of new multifamily properties. They are ranked by the number of units started in 2019. The top 5 builders are:

Summit Contracting Group with 9,065 units

Alliance Residential with 7,603 units

Wood Partners with 5,853 units

CBG Building Company with 5,688 units

Katerra with 5,675 units

For a list of all firms on the NMHC top 25 builders list, see here.

Developers

The developer is the firm that does the project planning, financing and marketing. The developer selects the builder and is the initial owner of the units once they are completed. Developers are ranked by the number of units started in 2019. The top 5 developers are:

Alliance Residential with 8,009 units

Greystar Real Estate Partners with 7,010 units

Wood Partners with 6,757 units

LMC, a Lennar Company with 6,726 units

Trammell Crow Residential with 5,011 units

For a list of all firms on the NMHC top 50 developers list, see here.

Syndicators

NMHC defines a syndicator as “a company that buys or syndicates tax credits to serve as a general partner with a minority ownership interest.” The top 5 syndicators are:

PNC Real Estate with 132,179 units

Raymond James Tax Credit Funds with 125,192 units

National Equity Fund with 110,949 units

Enterprise Community Investment with 108,043 units

Boston Capital with 107,986 units

For a list of all firms on the NMHC top 10 syndicators list, see here.