Thirty years ago, we published our first NMHC 50 rankings. Since then, the industry has significantly evolved. People, technology and evolving markets contributed to making today’s multifamily sector almost unrecognizable compared to how it looked in 1990. As the industry has evolved, so have the rankings.
What started as listing only owners and managers has now grown to include ranking developers, builders and syndicators. Where we once had very little data, we now have 30 years of information for comparison. This change has positioned the rankings as an invaluable resource for the multifamily industry, providing an authoritative and comprehensive look at the industry’s major players.
Over the last 30 years, the rankings have seen many firms come and go—and sometimes reappear. Many of the firms featured on the first NMHC 50 list in 1990 have merged or closed. Others, however, have remained among the leading firms, finding ways to continue to grow decade after decade. We recognize that two companies that were Top 10 apartment owners in 1990 remain so today, while one original management firm continues to be a Top 10 mainstay.
We thank all the firms that participate in the NMHC 50 survey year after year. It’s been a wonderful journey watching companies grow and the industry evolve. Here are what we see as the highlights of the past 30 years.
These companies have been on the list for all 30 years.
1990 vs 2019
NHP, Inc is named the top owner (81,418 units) and Southmark Corporation the top manager (100,000 units) on the inaugural NMHC 50 rankings
Associated Estates Corporation is the first REIT to appear on the NMHC 50 list
No. 1 owner, NHP, Inc, breaks the 100,000-unit mark (116,304 units)
No. 1 manager Insignia Financial Group, Inc., jumps from managing 124,945 units in 1994 to 206,584 in 1995, becoming the first company to reach 200,000 units
Aimco (Apartment Investment and Management Company) soars to the top of the NMHC 50, topping both the owner and manager lists and becoming the first owner to expand to more than 200,000 units owned (233,329) and 300,000 units managed (347,692)
Minimum threshold for top owners exceeds 20,000 units for the first time
No. 1 owner CharterMac breaks the 300,000-unit mark (324,711)
Greystar Real Estate Partners crowns the managers list, remaining at the top ever since
NMHC and MFE begin NMHC 50 partnership
Top Builder and Developer lists added to NMHC 50
No. 1 manager Greystar Real Estate Partners surpasses the 400,000-unit mark (413,679)
Syndicators get their own list in NMHC 50
Minimum threshold for top managers exceeds 30,000 units for the first time
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