NMHC found that the share of apartments managed by the top 50management firms rose by a record 8.3% to 2.6 million units, whichmeans the top 50 firms now oversee 14.7% of the 17.6 millionapartments in the US.
This growth spurt is a departure from the previous three or moreyears, Mark Obrinsky, NMHC chief economist, tells GlobeSt.com."Even in years when the number of apartments managed increasedamong firms, it never rose by that much," he says.
Obrinsky points to two trends as the reason: one, institutionalowners such as pension funds are opting to give their multifamilyportfolios over to one management firm, instead of divvying it upon a region by region basis as they have in years' past.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
