Introduction
The NMHC just released its 2016 rankings for Multifamily in various categories: We relished the opportunity to download the raw data from NMHC, put it in Google Sheets, and play around with it to compare the 2016 rankings with that of 2015.
As a tiny explainer, NMHC ranks companies in the Multifamily industry every year in various categories: Owners, Managers, Developers and Contractors. These rankings are now followed keenly by the insiders in the industry and provide insights into the size and scale of not just the multifamily operators but also the multifamily industry in general.
Highlights of NMHC Top 50 Managers
Top 10 NMHC Managers for 2016
Here are the Top 10 Property Managers for 2016. These companies have consistently maintained their position in the top 10-15 for the past 5 years.
Greystar has had a major growth spurt recently and has almost quadrupled the number of units it manages in the past 5 years.
The first thing that strikes you is that Greystar is huge. Really huge! Greystar is not only number 1 on this list, but also comfortably bigger than number 2. It is two and a half times its next competitor Lincoln Property Company and manages nearly 250,000 more units than Lincoln. Greystar has had a major growth spurt recently and has almost quadrupled the number of units it manages in the past 5 years.
| PROPERTY MANAGER | RANK (2016) | RANK (2015) | UNITS (2016) | UNITS (2015) |
|---|---|---|---|---|
| Greystar Real Estate Partners, LLC | 1 | 1 | 413,679 | 393,079 |
| Lincoln Property Company | 2 | 2 | 165,251 | 164,416 |
| Pinnacle | 3 | 3 | 134,725 | 131,790 |
| Equity Residential | 4 | 4 | 109,540 | 109,225 |
| WinnCompanies | 5 | 5 | 98,817 | 96,955 |
| FPI Management, Inc. | 6 | 8 | 98,401 | 76,500 |
| Alliance Residential Company | 7 | 7 | 88,028 | 82,123 |
| Apartment Management Consultants, LLC | 8 | 10 | 80,195 | 71,483 |
| MAA | 9 | 6 | 79,496 | 82,316 |
| AvalonBay Communities, Inc. | 10 | 9 | 73,944 | 72,323 |
Biggest Gains in Manager Rank from 2015 to 2016
The Lynd Company saw the biggest jump in its rank, +13 points from being the last on the list in 2015 to 37 this year.
These are the companies that showed the biggest gains in rank from 2015 to 2016. The Lynd Company saw the biggest jump in its rank, +13 points from being the last on the list in 2015 to 37 this year. Additionally, Lynd increased its properties by almost 27% in just one year.
| PROPERTY MANAGER | RANK (2016) | RANK (2015) | RANK CHANGE |
|---|---|---|---|
| The Lynd Company | 37 | 50 | +13 |
| RAM Partners, LLC | 35 | 45 | +10 |
| The Michaels Organization | 21 | 26 | +5 |
| Fairfield Residential Company LLC | 14 | 18 | +4 |
| Village Green | 28 | 32 | +4 |
| Weidner Apartment Homes | 26 | 29 | +3 |
| Morgan Properties | 38 | 41 | +3 |
Biggest Gains in Units Managed from 2015 to 2016
These are the companies that showed the biggest jump in the total number of units under management. FPI Management leads the list with an increase of 21,901 units from last year. And, while Greystar doubled the number of units from 2014 to 2015, it came in 2nd this year by adding 20,600 units.
| PROPERTY MANAGER | RANK (2016) | UNITS (2016) | UNITS (2015) | CHANGE IN UNITS |
|---|---|---|---|---|
| FPI Management, Inc. | 6 | 98,401 | 76,500 | +21,901 |
| Greystar Real Estate Partners, LLC | 1 | 413,679 | 393,079 | +20,600 |
| Apartment Management Consultants, LLC | 8 | 80,195 | 71,483 | +8,712 |
| Steadfast Companies ✧ | 34 | 34,806 | 26,529 | +8,277 |
| Monarch Investment and Management Group ✧ | 48 | 28,547 | 20,520 | +8,027 |
✧ New in NMHC Top Managers 2016
New Entrants to the NMHC Top 50 Managers 2016 Ranking
We had 7 new entrants to the NMHC Top 50 Managers list this year. GoldOller and Steadfast made impressive entries jumping from outside the Top 50 in 2015 to take on positions 30 and 34, respectively, in 2016.
| PROPERTY MANAGER | RANK (2016) | UNITS (2016) |
|---|---|---|
| GoldOller Real Estate Companies | 30 | 40,820 |
| Steadfast Companies | 34 | 34,806 |
| Cortland Partners, LLC | 41 | 32,241 |
| Kettler Management | 44 | 30,828 |
| ZRS Management, LLC | 45 | 30,410 |
| Monarch Investment and Management Group | 48 | 28,547 |
| Pegasus Residential | 50 | 27,634 |
Dropouts from NMHC Top 50 Managers 2016 Ranking
Finally, we have the following who dropped out of the Top 50 Managers list. The most significant of these is Home Properties Inc., which was acquired by Lone Star Fund in 2015.
| PROPERTY MANAGER | RANK (2015) | UNITS (2015) |
|---|---|---|
| Home Properties, Inc. | 27 | 42,107 |
| U.S. Residential Group LLC | 31 | 38,942 |
| Harbor Group International | 37 | 33,235 |
| JRK Property Holdings, Inc. | 40 | 31,852 |
| CompassRock Real Estate LLC | 42 | 30,188 |
| LivCor, LLC | 46 | 29,000 |
| Orion Real Estate Services, Inc. | 48 | 28,214 |
| Cottonwood Residential | 49 | 27,711 |
Conclusion
The NMHC Manager Rankings in 2016 saw some significant movement and at the same time displayed consistency.
The NMHC Manager Rankings in 2016 saw some significant movement and at the same time displayed consistency. The top 10 property managers maintained their spots within the top 10 although there was some shifting a rank or two above and below. The top 5 ranks however remained unchanged from 2015 to 2016. The significant movement is seen in the bottom half of the rankings where almost eight property managers were dropped from the list and seven new companies were added on to the list. The most significant of these is GoldOller Real Estate which made a straight jump from not making the list last year to rank 30 this year.