One firm set records for this year’s National Multifamily Housing Council Top 50 roundup of multifamily firms. Greystar now sits at the number one spot in the NMHC’s lists for top apartment owner, manager, and developer in 2024.
This marks the 14th year in a row that Greystar has landed as Top Manager in the NMHC list. Additionally, this is Greystar’s fourth consecutive year as both Top Owner and Top Developer.
As of this year, Greystar owns 108,566 units, manages 798,272 units, and has started development of 9,151 units.
NMHC 50 Largest Apartment Owners
Greystar took the number one spot this year, jumping up from second in 2023. MAA, which owns 100,894 units in 2024, and Morgan Properties, which owns 92,935, took second and third respectively.
Over 80% of Greystar’s owned units are market rate, 17% are student housing units, and 3% are others.
Top Apartment Owners:
- Greystar (108,566 units) rose to first
- MAA (100,894 units) dropped to second
- Morgan Properties (92,935 units) stayed in third
- Nuveen (84,697 units) rose to fourth, from seventh
- AvalonBay Communities (82,565 units) dropped to fifth, from fourth
- Equity Residential (80,191 units) dropped to sixth, from fifth
- The Michaels Organization (77,683 units) rose to seventh, from 13th
- Cortland (74,831 units) dropped to eighth, from sixth
- Monarch Investment (73,026 units) dropped to ninth, from eighth
- The Related Companies, LP (72,423 units) dropped to 10th, from ninth
NMHC 50 Largest Apartment Managers
Greystar stayed in the number one spot this year, marking its 14th year in a row to do so. Asset Living, which manages 291,322 units, jumped from third to second place in 2024. RPM Living manages 226,169 units, rising three spots from sixth to third this year.
Nearly all (92%) of housing units managed by Greystar are market rate, while just under 5% are student housing and 3% are others.
Top Apartment Managers:
- Greystar (798,272) stayed in first
- Asset Living (291,322) rose to second, from third
- RPM Living (226,169 units) rose to third, from sixth
- Willow Bridge Property Company (201,472 units) dropped to fourth, from second
- Curshman & Wakefield (182,214 units) dropped to fifth, from fourth
- FPI Management, Inc. (167,767 units) dropped to sixth, from fifth
- Apartment Management Consultants, LLC (145,697 units) stayed in seventh
- Avenue5 Residential, LLC (121,932) rose to eighth, from 10th
- BH (113,993 units) dropped to ninth, from eighth
- WinnCompanies (109,037 units) dropped to 10th, from ninth
NMHC 25 Largest Developers
Greystar rose from second to first place in 2024 for largest developers. Mill Creek Residential started just over 8,000 units in 2023, rising from third place from second this year. Trammell Crow Residential started 5,823 units last year and has gone from fifth place to third in this year’s ranking.
Top Apartment Developers:
- Greystar (9,151 units) rose to first, from second
- Mill Creek Residential (8,022 units) rose to second, from third
- Trammell Crow Residential (5,823 units) rose to third, from fifth
- Wood Partners (5,137 units) stayed in fourth
- Hillpointe, LLC (4,861 units) rose to fifth, from 13th
- Alliance Residential (4,628 units) dropped to sixth, from first
- The Michaels Organization (4,292 units) took seventh
- Core Spaces (4,030 units) took eighth
- Hines (3,670 units) rose to ninth, from 17th
- D.R. Horton Inc. (3,433 units) stayed in 10th
Related Stories
Adaptive Reuse | Nov 1, 2023
Biden Administration reveals plan to spur more office-to-residential conversions
The Biden Administration recently announced plans to encourage more office buildings to be converted to residential use. The plan includes using federal money to lend to developers for conversion projects and selling government property that is suitable for conversions.
Mass Timber | Oct 27, 2023
Five winners selected for $2 million Mass Timber Competition
Five winners were selected to share a $2 million prize in the 2023 Mass Timber Competition: Building to Net-Zero Carbon. The competition was co-sponsored by the Softwood Lumber Board and USDA Forest Service (USDA) with the intent “to demonstrate mass timber’s applications in architectural design and highlight its significant role in reducing the carbon footprint of the built environment.”
Smart Buildings | Oct 27, 2023
Cox Communities partnership levels up smart tech for multifamily customers
Yesterday, Cox Communities announced its partnership with Level Home Inc., a provider of next-generation smart IoT solutions for multifamily customers.
Student Housing | Oct 25, 2023
Pierce Education Properties acquires Penn State student housing
The two communities offer a wide range of amenities, including swimming pools with sun decks, study rooms with complimentary printing services, fitness centers, tennis court, and sand volleyball courts.
Giants 400 | Oct 23, 2023
Top 115 Multifamily Construction Firms for 2023
Clark Group, Suffolk Construction, Summit Contracting Group, Whiting-Turner Contracting, and McShane Companies top the ranking of the nation's largest multifamily housing sector contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking factors revenue for all multifamily buildings work, including apartments, condominiums, student housing facilities, and senior living facilities.
Giants 400 | Oct 23, 2023
Top 75 Multifamily Engineering Firms for 2023
Kimley-Horn, WSP, Tetra Tech, Olsson, and Langan head the ranking of the nation's largest multifamily housing sector engineering and engineering/architecture (EA) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking factors revenue for all multifamily buildings work, including apartments, condominiums, student housing facilities, and senior living facilities.
Giants 400 | Oct 23, 2023
Top 190 Multifamily Architecture Firms for 2023
Humphreys and Partners, Gensler, Solomon Cordwell Buenz, Niles Bolton Associates, and AO top the ranking of the nation's largest multifamily housing sector architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking factors revenue for all multifamily buildings work, including apartments, condominiums, student housing facilities, and senior living facilities.
Senior Living Design | Oct 19, 2023
Senior living construction poised for steady recovery
Senior housing demand, as measured by the change in occupied units, continued to outpace new supply in the third quarter, according to NIC MAP Vision. It was the ninth consecutive quarter of growth with a net absorption gain. On the supply side, construction starts continued to be limited compared with pre-pandemic levels.
Urban Planning | Oct 12, 2023
Top 10 'future-ready' cities
With rising climate dilemmas, breakthroughs in technology, and aging infrastructure, the needs of our cities cannot be solved with a single silver bullet. This Point2 report compared the country's top cities over a variety of metrics.
Modular Building | Oct 11, 2023
Development startup brings modular solution to hospitality industry
The company's approach extends to various types of accommodations, from landscape hotels and cozy bed and breakfasts to compact micro hotels and food and wine-themed properties.
