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Top 50 Apartment Owners (Rankings)
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2009 NMHC 50
50 Largest U.S. Apartment Owners as of January 1, 2009

Current Rank Previous Rank Company Headquarters Corporate Officer Current Units Previous Units
1 2 MMA Financial, LLC Baltimore, MD Michael L. Falcone 186,459 188,159
2 3 Boston Capital Boston, MA Jack Manning 171,267 167,679
3 1 AIMCO Denver, CO Terry Considine 158,950 197,158
4 5 SunAmerica Affordable Housing Partners, Inc. Los Angeles, CA Michael L. Fowler 152,315 143,674
5 4 Equity Residential Chicago, IL David J. Neithercut 148,115 154,152
6 NR National Equity Fund, Inc. Chicago, IL Joseph S. Hagan 100,536 96,133
7 6 Enterprise Community Investment, Inc. Columbia, MD Jeffrey H. Donahue 94,676 89,348
8 8 The Richman Group Affordable Housing Corporation Greenwich, CT Richard Paul Richman 85,197 80,054
9 7 Archstone Englewood, CO R. Scot Sellers 83,871 87,667
10 12 Pinnacle Seattle, WA Stan Harrelson 78,848 62,800
11 11 PNC Real Estate Louisville, KY Donald W. Giffen 73,091 65,641
12 9 GE Real Estate Norwalk, CT Ron Pressman 71,426 76,448
13 13 Camden Property Trust Houston, TX Ric Campo 62,421 62,338
14 14 BlackRock Realty San Francisco, CA Fred Lieblich 59,665 59,665
15 18 Alliant Capital, Ltd. Woodland Hills, CA Shawn Horwitz 57,839 52,730
16 16 Edward Rose & Sons Farmington Hills, MI Warren Rose 55,052 54,103
17 17 Fairfield Residential LLC San Diego, CA Kim Bender 54,978 53,001
18 20 WNC & Associates, Inc. Irvine, CA Wilfred N. Cooper Jr. 49,778 48,881
19 15 AvalonBay Communities, Inc. Alexandria, VA Bryce Blair 49,730 54,687
20 10 UDR, Inc. Highlands Ranch, CO Thomas W. Toomey 48,499 70,591
21 19 Lincoln Property Company Dallas, TX Tim Byrne 47,379 49,070
22 21 Forest City Residential Group, Inc. Cleveland, OH Ronald A. Ratner 45,365 44,030
23 NR DRA Advisors LLC New York, NY David Luski 43,440 19,180
24 25 Mid-America Apartment Communities, Inc. Memphis, TN H. Eric Bolton, Jr. 42,554 40,248
25 NR Bell Partners Greensboro, NC Steven D. Bell 41,405 14,438
26 24 The Michaels Development Company Marlton, NJ Michael J. Levitt 41,120 40,908
27 NR Empire American Holdings LLC Montvale, NJ Eli Feller 40,776 36,233
28 27 Picerne Real Estate Group Phoenix, AZ David R. Picerne 38,777 39,574
29 23 Sentinel Real Estate Corporation New York, NY John Streicker 37,461 42,000
30 28 Home Properties, Inc. Rochester, NY Edward J. Pettinella 37,130 37,496
31 NR JRK Property Holdings, Inc. Los Angeles, CA James Lippman 37,079 32,246
32 NR The Bascom Group, LLC Irvine, CA David S. Kim 35,674 34,170
33 33 BH Management Services, Inc. Des Moines, IA Harry Bookey 33,209 30,894
34 31 Related Companies New York, NY Jeff Blau 32,791 31,483
35 32 Colonial Properties Trust Birmingham, AL Thomas H. Lowder 32,237 31,282
36 29 Morgan Stanley New York, NY John Buza 31,896 33,772
37 30 Morgan Properties King of Prussia, PA Mitchell Morgan 31,238 31,670
38 34 Westdale Real Estate Investment & Management Dallas, TX Joseph G. Beard 30,620 30,294
39 35 UBS Global Asset Management, Global Real Estate - US Hartford, CT David J. Ingram 30,539 29,744
40 38 Lindsey Management Co. Fayetteville, AR James E. Lindsey 29,091 27,581
41 37 Babcock & Brown Residential LLC Charlotte, NC Philip S. Payne 27,816 28,153
42 39 Essex Property Trust, Inc. Palo Alto, CA Keith R. Guericke 26,868 27,489
43 42 Berkshire Property Advisors Boston, MA Frank Apeseche 26,525 25,382
44 40 Madison Apartment Group Philadelphia, PA Joseph F. Mullen 25,280 25,976
45 41 BRE Properties, Inc San Francisco, CA Constance B. Moore 25,276 25,887
46 44 AMLI Residential Properties Chicago, IL Gregory T. Mutz 23,982 23,457
47 43 Southern Management Corporation Vienna, VA David H. Hillman 23,730 23,722
48 46 Milestone Management Dallas, TX Steve Lamberti 21,540 21,964
49 45 Post Properties, Inc. Atlanta, GA David P. Stockert 21,190 22,249
50 49 Northwestern Mutual Milwaukee, WI Edward J. Zore 20,700 21,007

To ensure the 2009 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, 2009. Although membership in the National Multi Housing Council is not required for inclusion in the survey, 84 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.