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Top 50 Apartment Owners (Rankings)
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2008 NMHC 50
50 Largest U.S. Apartment Owners as of January 1, 2008

Current Rank Previous Rank Company Headquarters Corporate Officer Current Units Previous Units
1 1 AIMCO Denver, CO Terry Considine 197,158 211,800
2 2 MMA Financial, LLC Baltimore, MD Michael L. Falcone 188,159 177,062
3 4 Boston Capital Boston, MA Jack Manning 167,679 156,758
4 3 Equity Residential Chicago, IL David J. Neithercut 154,152 165,716
5 5 SunAmerica Affordable Housing Partners, Inc. Los Angeles, CA Michael L. Fowler 143,674 145,224
6 7 Enterprise Community Investment, Inc. Columbia, MD Jeffrey H. Donahue 87,822 82,270
7 6 Archstone-Smith Englewood, CO R. Scot Sellers 87,667 84,176
8 8 The Richman Group Affordable Housing Corporation Greenwich, CT Richard Paul Richman 80,054 74,517
9 10 GE Real Estate Norwalk, CT Ronald Pressman 76,448 67,561
10 9 UDR, Inc. Highlands Ranch, CO Thomas W. Toomey 70,591 70,339
11 11 PNC Real Estate Louisville, KY Donald W. Giffen 65,641 64,013
12 14 American Management Services (dba Pinnacle) Seattle, WA Stan Harrelson 62,800 50,514
13 12 Camden Property Trust Houston, TX Ric Campo 62,338 63,843
14 17 BlackRock Realty Florham Park, NJ Fred Lieblich 59,665 48,135
15 16 AvalonBay Communities, Inc. Alexandria, VA Bryce Blair 54,687 48,294
16 13 Edward Rose & Sons Farmington Hills, MI Warren Rose 54,103 53,195
17 15 Fairfield Residential LLC San Diego, CA Chris Hashioka 53,001 50,450
18 28 Alliant Capital, Ltd. Woodland Hills, CA Shawn Horwitz 52,730 40,000
19 18 Lincoln Property Company Dallas, TX Tim Byrne 49,070 46,938
20 21 WNC & Associates, Inc. Irvine, CA Wilfred N. Cooper Jr. 48,881 44,644
21 23 Forest City Residential Group, Inc. Cleveland, OH Ronald A. Ratner 44,030 41,503
22 20 Sentinel Real Estate Corporation New York, NY John H. Streicker 42,000 45,293
23 24 The Michaels Development Company Marlton, NJ Robert Greer 40,908 41,381
24 26 Mid-America Apartment Communities, Inc. Memphis, TN H. Eric Bolton, Jr. 40,248 40,293
25 32 The Irvine Apartment Communities Irvine, CA Max Gardner 39,765 32,716
26 29 Picerne Real Estate Group Phoenix, AZ David R. Picerne 39,574 38,979
27 30 Home Properties, Inc. Rochester, NY Edward J. Pettinella 37,496 36,954
28 27 Morgan Stanley Real Estate New York, NY John Buza 33,772 40,281
29 NR Morgan Properties King of Prussia, PA Mitchell Morgan 31,670 13,359
30 35 Related Companies New York, NY Jeff Blau 31,483 29,477
31 31 Colonial Properties Trust Birmingham, AL Reynolds Thompson 31,282 33,724
32 37 BH Management Services, Inc. Dallas, TX Harry Bookey 30,894 27,191
33 40 Westdale Real Estate Investment & Management Dallas, TX Joseph G. Beard 30,294 24,841
34 34 UBS Global Asset Management, Global Real Estate - US Hartford, CT David J. Ingram 29,744 30,118
35 19 Wells Fargo Multifamily Capital Charlotte, NC Ken Thompson 29,000 46,351
36 NR Babcock & Brown Residential LLC Charlotte, NC Philip S. Payne 28,153 NR
37 38 Lindsey Management Co. Fayetteville, AR James E. Lindsey 27,581 25,508
38 36 Essex Property Trust, Inc. Palo Alto, CA Keith R. Guericke 27,489 27,570
39 42 Madison Apartment Group Philadelphia, PA Joseph F. Mullen 25,976 24,186
40 41 BRE Properties, Inc. San Francisco, CA Constance B. Moore 25,887 24,838
41 49 Berkshire Property Advisors Boston, MA Frank Apeseche 25,382 20,062
42 43 Southern Management Corporation Vienna, VA David H.Hillman 23,722 23,471
43 45 AMLI Residential Properties Chicago, IL Gregory T. Mutz 23,457 22,276
44 47 Post Properties, Inc. Atlanta, GA David P. Stockert 22,249 21,745
45 50 Milestone Management Dallas, TX Steve Lamberti 21,964 19,759
46 48 Security Properties Seattle, WA John M. Orehek 21,161 20,071
47 46 Northwestern Mutual Milwaukee, WI Edward J. Zore 21,007 22,196
48 NR Henderson Global Investors Hartford, CT Charlie Wurtzebach 19,553 19,000
49 NR Sawyer Realty Holdings LLC Needham, MA David Rosenberg 18,376 19,359
50 NR Alliance Residential Company Phoenix, AZ Bruce C. Ward 18,134 8,060

To ensure the 2008 NMHC 50 is as complete and accurate as possible, NMHC staff gathered names of apartment owners and managers from a wide range of sources. A senior officer from each firm was contacted for the information included in the rankings, which are for properties owned or managed on January 1, 2008. Although membership in the National Multi Housing Council is not required for inclusion in the survey, 91 percent of the firms appearing in this year’s rankings are NMHC members. NMHC expresses appreciation to the industry leaders for their participation in this annual effort.