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NMHC 50 Depicts an Industry Going Strong

Before the outbreak of COVID-19 and the related economic weakening, the multifamily industry and the sector’s fundamentals were as healthy as they had been in years, as demonstrated by the National Multifamily Housing Council’s (NMHC) just-released 2020 NMHC 50. The annual roster ranks the nation’s largest apartment owners, managers, developers, builders and syndicators.

Among the industry leaders were the following:

• MAA, the country’s largest apartment owner with 100,031 apartment homes owned, breaking the 100,000-unit mark for the second consecutive year.
• Greystar Real Estate Partners, the largest apartment manager with 492,967 apartments under management.
• Alliance Residential, retaining its place as the largest apartment developer with 8,009 apartments started in 2019.
• Summit Contracting Group, once again the country’s highest-producing apartment builder, starting 9,065 apartments in 2019.
• PNC Real Estate, continuing as the nation’s largest apartment tax credit syndicator, with 132,179 apartments syndicated.

“As is evident from the growth on this year’s builders and developers lists, the industry is continuing the pace of production to meet the needs of pent-up demand from years past,” said NMHC’s Caitlin Sugrue Walter. “In addition, apartment transaction volume surpassed $100 billion for what’s now the seventh consecutive year.”

Pictured: A Greystar property in Redwood City, CA.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).