WASHINGTON, DC—The National Multifamily Housing Council has released its NMHC 50 for 2014-its ranking of the top apartment owners and managers in the industry.
2013 came close to setting a record year in transactions, the association reports, with total volume clocking in at $104.5 billion, just 1% less than the all-time high recorded in 2007. Other high-water marks for the year: Sales of mid-and high-rise properties set a new record of $38 billion, 13% more than the previous high of 2007. Garden apartment volume added another $66.3 billion to the tally. Deal size also increased and large portfolio trades were the norm.
All of which contributed to a shake up in the usual line up of apartment owners and their rankings.
Hunt Cos./LEDIC Managed Group Affiliates, with 253,295 units now under its belt, jumped to the top spot in the owners list.
Meanwhile last year’s leader, Boston Capital, slipped to the second spot in the rankings, as AIG Affordable Housing moved up a notch to third. PNC Real Estate jumped up two places; Boston Financial Investment Management, LP retained its No. 5 slot.
Equity Residential, The Richman Group Affordable Housing Corp. and Enterprise Community Asset Management, Inc.-also in the top ten-all moved up one position.
In addition MAA made its first appearance in the top 10 due to its merger with Colonial Properties Trust and AvalonBay Communities, rounded out the top 10, its highest rank ever. For the full list of the NMHC Top 50, click here.