Magazine article Journal of Property Management

Top Multifamily Players Stable

Magazine article Journal of Property Management

Top Multifamily Players Stable

Article excerpt

The National Multi Housing Council's (NMHC) annual ranking of the top 50 apartment owners and managers revealed few shake-ups despite a record-breaking level of transactions and an influx of private investors attracted by low interest rates.

"Many people expected that the flood of private money into the industry would 'roil the waters' of what has become a fairly tranquil pool of the largest owners and managers," said Mark Obrinsky, NMHC's chief economist. "But that did not happen. There were just six new firms added to the owners list. There is even greater stability among the top management firms, where AIMCO remains number one for the sixth consecutive year. In all likelihood, these are the hallmarks of a more mature, stable industry."

The top five apartment owners for 2004: CharterMac (New York), Apartment Investment and Management Company [AIMCO], AMO (Denver), Equity Residential (Chicago), MMA Financial (Baltimore) and Boston Capital Corporation (Boston). The top 50 owners held just under 18 percent of the nation's 16.2 million apartments, a 3.9 percent gain from 2003. Growth was concentrated at the top, with the 10 largest firms increasing their holdings by more than six percent. Apartment management remained less concentrated than ownership. The top 50 managers now operate approximately 15 percent of the country's 16.2 million apartments.

2004 Largest U.S. Apartment Managers

Current  Previous  Company                           Headquarters
Rank     Rank

 1        1        Apartment Investment and
                     Management Company, AMO         Denver
 2        2        Equity Residential                Chicago
 3        3        American Management Services
                     (d. … 
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.