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Top 50 Apartment Owners (Rankings)
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2006 NMHC 50
50 Largest U.S. Apartment Owners as of January 1, 2006

Current Rank Previous Rank Company Headquarters Corporate Officer Current Units Previous Units
1 2 AIMCO Denver, CO Terry Considine 233,738 256,608
2 3 Equity Residential Chicago, IL David J. Neithercut 197,404 200,149
3 4 MMA Financial, LLC Baltimore, MD Michael L. Falcone 179,133 181,501
4 6 Boston Capital Corporation Boston, MA John P. Manning 147,000 129,971
5 5 SunAmerica Affordable Housing Partners, Inc. Los Angeles, CA Mike Fowler 143,702 136,539
6 9 Archstone-Smith Englewood, CO R. Scot Sellers 81,914 75,959
7 8 United Dominion Realty Trust, Inc. Richmond, VA Thomas W. Toomey 74,875 79,291
8 11 Enterprise Community Investment, Inc. Columbia, MD Jeffrey H. Donahue 74,778 68,261
9 20 Wachovia Charlotte, NC G. Kennedy Thompson 70,429 45,903
10 13 The Richman Affordable Housing Corporation Greenwich, CT Richard P. Richman 67,501 57,505
11 16 Camden Property Trust Houston, TX Richard J. Campo 65,580 51,456
12 15 GE Real Estate Stamford, CT Michael Pralle 57,366 52,002
13 18 PNC MultiFamily Capital Portland, OR Donald Giffen 57,232 50,375
14 17 Edward Rose Building Enterprise Farmington Hills, MI Sheldon Rose 52,237 51,334
15 14 Sentinel Real Estate Corporation New York, NY John H. Streicker 50,176 56,597
16 21 Fairfield Residential LLC San Diego, CA Christopher E. Hashioka 48,033 42,185
17 12 Alliance Holdings, L.L.C. Chicago, IL Andrew W. Schor 45,681 63,510
18 NR Colonial Properties Trust Birmingham, AL Tom Lowder 45,242 NR
19 19 Lincoln Property Company Dallas, TX J. Timothy Byrne 43,470 46,367
20 22 Home Properties, Inc. Rochester, NY Edward J. Pettinella 43,432 41,797
21 34 American Management Services (dba Pinnacle) Seattle, WA Stan J. Harrelson 41,457 28,752
22 23 AvalonBay Communities, Inc. Alexandria, VA Bryce Blair 40,606 39,020
23 27 WNC & Associates, Inc. Irvine, CA Wilfred N. Cooper Jr. 40,541 34,364
24 24 The Michaels Development Company Marlton, NJ Michael J. Levitt 40,369 38,958
25 26 Forest City Residential Group, Inc. Cleveland, OH Ronald A. Ratner 39,432 35,295
26 25 Mid-America Apartment Communities, Inc. Memphis, TN H. Eric Bolton Jr. 38,227 37,904
27 30 Raymond James Tax Credit Funds, Inc. St. Petersburg, FL Ronald M. Diner 37,000 30,000
28 28 Picerne Real Estate Group Phoenix, AZ David R. Picerne 36,759 31,188
29 7 Morgan Stanley New York, NY John Mack 33,845 100,000
30 37 BlackRock Realty Florham Park, NJ Fred Lieblich (Managing Director) 32,635 25,466
31 29 Holiday Retirement Corp./Colson & Colson Salem, OR William E. Colson 31,737 30,931
32 35 The Irvine Company Apartment Communities 'IAC' Irvine, CA Max Gardner 29,239 27,675
33 33 AMLI Residential Properties Trust Chicago, IL Gregory T. Mutz 28,659 29,282
34 36 The Related Companies New York, NY Jeff Blau 28,471 27,311
35 30 UBS Realty Investors LLC Hartford, CT Matthew Lynch 28,000 30,000
36 39 Essex Property Trust, Inc. Palo Alto, CA Keith R. Guericke 26,587 24,992
37 NR Westdale Asset Management Dallas, TX Joseph G. Beard 25,968 18,629
38 41 BRE Properties, Inc. San Francisco, CA Constance B. Moore 24,440 24,686
39 49 Southern Management Corporation Vienna, VA David H. Hillman 23,471 23,471
40 46 Northwestern Investment Management Company Milwaukee, WI Edward J. Zore 23,444 22,950
41 NR Prudential Mortgage Capital Company Parsippany, NJ Charles Lowrey 23,000 19,772
42 40 Post Properties, Inc. Atlanta, GA Dave Stockert 21,791 24,700
43 NR Madison Apartment Group Philadelphia, PA Joseph F. Mullen 21,737 21,157
44 49 Security Properties Inc. Seattle, WA John M. Orehek 21,478 21,694
45 NR Milestone Management Addison, TX Steve T. Lamberti 21,365 NR
46 42 Trammell Crow Residential Atlanta, GA J. Ronald Terwilliger 21,223 24,023
47 30 Whitehall Street Real Estate Limited Partnerships New York, NY Stuart Rothenberg 21,000 30,000
48 NR Investors Management Trust Real Estate Group, Inc. Sherman Oaks, CA John Tesoriero 20,827 NR
49 44 Gables Residential Trust Atlanta, GA David D. Fitch 20,641 23,670
50 47 CLK Management Corp. Great Neck, NY Craig Koenigsberg 20,369 22,355

To ensure the 2006 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, 2006. Although membership in the National Multi Housing Council is not required for inclusion in the survey, 87 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. The NMHC 50 was compiled and analyzed by NMHC staff members Mark Obrinsky and Rich Levy under the leadership of NMHC President Doug Bibby. In addition to the NMHC 50 rankings and analysis of the results, this section includes a listing of the officers and members of the National Multi Housing Council. NMHC staff biographies round out the section.