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
Industry Research | Feb 22, 2016
8 of the most interesting trends from Gensler’s Design Forecast 2016
Technology is running wild in Gensler’s 2016 forecast, as things like virtual reality, "smart" buildings and products, and fully connected online and offline worlds are making their presence felt throughout many of the future's top trends.
Multifamily Housing | Feb 10, 2016
Miami review board recommends approval for Arquitectonica’s top-heavy condo tower
The 57-story Elysee Miami will offer residents impeccable views and plenty of amenities.
Multifamily Housing | Feb 5, 2016
Design guidelines for retail space in NYC affordable housing projects released
Aimed at designing efficient, flexible ground-floor space.
Multifamily Housing | Feb 2, 2016
10 top bathroom design trends for 2016
Floating vanities, tricked-out showers, and freestanding tubs highlight the top bathroom design trends, according to a survey of kitchen and bath design professionals by the National Kitchen and Bath Association.
Multifamily Housing | Feb 1, 2016
Top 10 kitchen design trends for 2016
Charging stations, built-in coffeemakers, and pet stations—these are among the top kitchen design trends for the coming year, according to a new survey of kitchen and bath designers by the National Kitchen & Bath Association.
Codes and Standards | Jan 22, 2016
Treasury Dept. will start crackdown on illicit money in luxury real estate
The move is expected to impact high-end condo development.
| Jan 14, 2016
How to succeed with EIFS: exterior insulation and finish systems
This AIA CES Discovery course discusses the six elements of an EIFS wall assembly; common EIFS failures and how to prevent them; and EIFS and sustainability.
Multifamily Housing | Jan 8, 2016
Manager of New York’s first micro-unit development inks pact with ‘personal butler’ service
The co-living platform Ollie is leasing its initial building, in New York, with housekeeping and grocery shopping available via Hello Alfred.
Urban Planning | Jan 4, 2016
The next boomtown? Construction and redevelopment sizzle in San Diego
The city's emission-reduction plan could drive influx into downtown
Multifamily Housing | Dec 23, 2015
Student housing developer broadens its reach into multifamily
Aspen Heights Partners evaluates seven metros for its initial projects.