2011 NMHC 50
50 Largest U.S. Apartment Owners as of January 1, 2011

Owner Rank 2011	Owner Rank 2010	Company Name	Units Owned 2011	Units Owned 2010	Corporate Officer	HQ City	HQ State
1	1	Boston Capital	158,947	162,677	Jack Manning	Boston	MA
2		Centerline Capital Group	152,600	147,500	Rob Levy	New York	NY
3		Boston Financial Investment Management, LP	145,454	144,907	Ken Cutillo	Boston	MA
4	2	SunAmerica Affordable Housing Partners, Inc.	141,113	147,087	Michael L. Fowler	Los Angeles	CA
5	3	Equity Residential	129,604	136,843	David J. Neithercut	Chicago	IL
6	5	PNC Tax Credit Capital	123,462	128,727	Todd Crow	Portland	OR
7	4	AIMCO	110,946	133,200	Terry Considine	Denver	CO
8	6	National Equity Fund, Inc.	107,138	100,500	Joseph Hagan	Chicago	IL
9	7	Enterprise Community Investment, Inc.	96,195	96,395	Charles R. Werhane	Columbia	MD
10	8	The Richman Group Affordable Housing Corporation	94,925	90,346	Richard Paul Richman	Greenwich	CT
11	9	Archstone	81,613	83,085	R. Scot Sellers	Englewood	CO
12	12	Alliant Capital, Ltd.	65,245	60,258	Shawn Horwitz	Woodland Hills	CA
13	11	Camden Property Trust	63,278	63,286	Richard J. Campo	Houston	TX
14		Hunt Companies, Inc.	62,109	37,036	Woody Hunt	El Paso	TX
15	15	UDR, Inc.	58,796	51,320	Thomas W. Toomey	Highlands Ranch	CO
16	13	Edward Rose & Sons	56,025	55,958	Warren Rose	Farmington Hills	MI
17	10	Pinnacle Family of Companies	55,932	68,017	Stan Harrelson	Dallas	TX
18	18	AvalonBay Communities, Inc.	52,490	48,924	Bryce Blair	Arlington	VA
19		J.P. Morgan Asset Management	52,304	52,754	Jean Anderson	New York	NY
20	17	WNC & Associates, Inc.	52,134	50,332	Wilfred N Cooper, Jr.	Irvine	CA
21	20	Invesco Real Estate	50,567	47,340	Michael Kirby	Dallas	TX
22	19	Forest City Residential Group, Inc.	47,384	47,633	Ronald A. Ratner	Cleveland	OH
23	21	Lincoln Property Company	46,507	46,347	Tim Byrne	Dallas	TX
24	24	MAA	46,306	43,604	H. Eric Bolton, Jr.	Memphis	TN
25	31	JRK Property Holdings, Inc.	43,900	41,400	Jim Lippman	Los Angeles	CA
26	26	Irvine Company Apartment Communities	43,791	42,764	Kevin Baldridge	Irvine	CA
27	22	Michaels Development Company	43,433	44,916	Robert J. Greer	Marlton	NJ
28	25	Bell Partners Inc.	43,265	43,160	Steven D. Bell and Jonathan D. Bell	Greensboro	NC
29	23	Raymond James Tax Credit Funds, Inc.	43,035	44,128	Ronald Diner	St. Petersburg	FL
30	29	Picerne Real Estate Group	42,476	41,058	David R. Picerne	Phoenix	AZ
31	28	DRA Advisors LLC	41,111	41,908	David Luski	New York	NY
32	32	Home Properties, Inc.	38,861	35,797	Edward J. Pettinella	Rochester	NY
33	34	The Related Companies	35,637	35,578	Jeff Blau	New York	NY
34	33	Sentinel Real Estate Corporation	35,000	35,709	John H. Streicker	New York	NY
35	30	Empire American Holdings, LLC	34,939	40,776	Eli Feller	Montvale	NJ
36	39	Lindsey Management Co., Inc.	34,088	33,293	James E. Lindsey	Fayetteville	AR
37	37	Colonial Properties Trust	33,205	33,524	Thomas H. Lowder	Birmingham	AL
38	38	Westdale Real Estate Investment & Management	32,592	31,632	Joseph G. Beard	Dallas	TX
39	36	Concord Management Limited	32,313	32,022	Edward O. Wood, Jr.	Maitland	FL
40	44	BH Equities LLC	30,172	28,165	Harry Bookey	Des Moines	IA
41	43	UBS Realty Investors LLC	29,310	28,433	Matthew Lynch	Hartford	CT
42	47	Essex Property Trust, Inc.	29,146	27,248	Michael Schall	Palo Alto	CA
43	40	The Bascom Group, LLC	28,851	35,674	Jerome Fink	Irvine	CA
44	35	CNC Investments, Ltd.	28,528	32,721	Charlie Yalamanchili	Houston	TX
45	46	Berkshire Property Advisors	27,906	27,537	Frank Apeseche	Boston	MA
46	42	AEW Capital Management, L.P.	27,556	28,650	Jeffrey Furber	Boston	MA
47		CB Richard Ellis Investors, LLC	26,748	22,564	Stephen J. Zaleski	Los Angeles	CA
48		MCA Housing Partners, LLC	26,335	25,824	Michael A. Costa	Gardena	CA
49	48	BRE Properties, Inc.	25,398	25,325	Constance B. Moore	San Francisco	CA
50		GID Investment Advisers, LLC	25,002	12,247	Robert E. DeWitt	Boston	MA

2011 NMHC 50 50 Largest U.S. Apartment Owners as of January 1, 2011

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2011 NMHC 50
50 Largest U.S. Apartment Owners as of January 1, 2011