The apartment sector continued its strong economic run last year, reflected in the National Multifamily Housing Council’s (NMHC) newly released 2018 NMHC 50—the authoritative ranking of the nation’s largest apartment owners, manager, developers, builders, and syndicators.
MAA (headquartered in Memphis, Tenn.) was the country’s largest apartment owner, with 99,792 apartment homes owned.
Greystar Real Estate Partners (headquartered in Charleston, S.C.) remained the largest apartment manager, with 418,475 apartments under management. Greystar also remained the top apartment developer with 5,651 apartments started in 2017.
Summit Contracting Group, Inc. (headquartered in Jacksonville, Fla.) took the spot as the nation’s top third-party apartment builder, starting 6,053 apartments in 2017.
Alden Torch Financial (headquartered in Denver) continued as the country’s largest apartment tax credit syndicator, with 162,123 apartments syndicated.
“Strong underlying demand and investment performance metrics continue to buoy the market,” said Mark Obrinsky, NMHC’s Senior Vice President of Research and Chief Economist. “While there may have been some signs of deceleration and market leaders have shifted strategies, the industry’s fundamentals remain robust.”
Additional industry and NMHC 50 highlights:
* 2,066,945: number of units collectively owned by the firms on the NMHC 50 top owners list, representing 10.1% of the total apartment stock in the U.S.
* 3,282,557: number of total units managed by the firms on the NMHC 50 top managers list, an all-time high and a 3.3% growth over last year.
* 95.1%: apartment occupancy rate in 2017, according to RealPage; this is slightly below the unusually high levels of the last few years, but well above the post-1999 average of 94.4%.
* 346,900: number of apartments completed in 2017, according to the Census Bureau—the highest level since 1989.
* 343,037: absorptions of apartments in 2017, the best year since 2000 by a wide margin.
* $152.7 billion: total multifamily transaction volume for 2017, according to Real Capital Analytics.
NMHC partners with Kingsley Associates, a leading real estate research and consulting firm, to conduct the research and analysis for the NMHC 50. All apartment owners, managers, developers, builders, and syndicators are invited to answer a survey questionnaire that asks about their prior year’s activities. Apartment owners, managers and syndicators are ranked based on their portfolio holdings (either owned, managed or syndicated) as of January 1, 2018, while developers and builders are ranked based on the number of apartment units started in 2017.
For more details about the NMHC 50, including historical information, visit nmhc.org/The-NMHC-50.
Related Stories
| Mar 14, 2013
25 cities with the most Energy Star certified buildings
Los Angeles, Washington, D.C., and Chicago top EPA's list of the U.S. cities with the greatest number of Energy Star certified buildings in 2012.
Building Enclosure Systems | Mar 13, 2013
5 novel architectural applications for metal mesh screen systems
From folding façades to colorful LED displays, these fantastical projects show off the architectural possibilities of wire mesh and perforated metal panel technology.
| Mar 6, 2013
Dual towers designed by SHoP create new affordable housing in NYC
With the construction of Hunters Point South, New York City will get its first large new housing development for middle-class families in more than 30 years. Related Companies is partnering with the nonprofit Phipps Houses in the project, designed by SHoP Architects with Ismael Leyva Architects.
| Mar 6, 2013
German demonstration building features algae-powered façade
Exterior of carbon-neutral demonstration building consists of hollow glass panels containing micro-algae "farms."
| Mar 4, 2013
Gehry unveils design for Santa Monica hotel-condo tower
If all goes as planned, Frank Gehry will design the first building in his hometown in some 25 years.
| Mar 3, 2013
Hines acquires Archstone's interest in $700 million CityCenterDC project
The Washington D.C. office of Hines, the international real estate firm, announced the acquisition of the ownership interest of their partner, Archstone, in the mixed-use CityCenterDC project that is currently under construction in downtown Washington, D.C.
| Mar 1, 2013
China mega developer enters U.S. market
China Vanke Co., Ltd., is making its debut in the U.S. property market with a joint venture high-rise condominium project at 201 Folsom St. in San Francisco, according to CoStar's Randyl Drummer.
| Feb 28, 2013
Novel multifamily solutions to be presented at New York Modular Construction Summit
The New York Modular Construction Summit will be co-hosted by the Modular Building Institute and Pratt Institute School of Architecture on May 16, 2013, in Brooklyn, N.Y.
| Feb 28, 2013
Lend Lease builds world's tallest timber apartment building
Construction giant Lend Lease recently put the finishing touches on Forté, a 10-story apartment complex in Melbourne, Australia's Victoria Harbour that was built entirely with cross laminated timber (CTL) technology.
| Feb 27, 2013
Bronx residents get LEED Platinum public housing complex, rooftop farm
The New York City Housing Authority has opened Arbor House, a 124-unit LEED Platinum complex in the Morrisania neighborhood of the Bronx.
