WASHINGTON--(BUSINESS WIRE)--A rebounding apartment industry with near record transaction levels created notable changes in the National Multifamily Housing Council’s (NMHC) newly-released 2014 NMHC 50 – the industry’s ranking of the top owners and managers. Hunt Companies, Inc. (253,295 units owned) jumped to the top spot in the owners list while Greystar Real Estate Partners, LLC (214,696 units managed) topped the NMHC 50 management list for the fourth consecutive year. Full rankings and detailed analysis is available at www.nmhc.org/NMHC50.
“While rental demand continues to rise, new apartment supply still came up short. Multifamily completions came in at 185,800 in 2012 still well below the 300,000 per-year pre-bust average,” said NMHC Senior Vice President of Research and Chief Economist Mark Obrinsky. “Annual absorptions of investment-grade apartments rose by almost a third in 2013, but ultimately remained constrained by new supply. Providing further indication of continued strong demand, occupancy rates were unchanged at just over 95 percent.”
“Top apartment executives looked to best position their companies to take advantage of the market recovery and larger portfolio deals and acquisitions marked the year. This level of trading resulted in more than the usual degree of shake-up in the apartment industry last year,” said Obrinsky.
NMHC 50 highlights, by the numbers:
NMHC partners with Kingsley Associates, a leading real estate research and consulting firm, for the NMHC 50’s research and analysis. Additional information can be found online a http://www.nmhc.org/NMHC50.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 35 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at firstname.lastname@example.org, or visit NMHC's web site at www.nmhc.org.