Who are the Winners in the Just Released 2016 NMHC Top 50 Managers?

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A brief analysis of the changes in the latest NMHC Top 50 Managers for 2016
➺ The Top 10 NMHC Managers
➺ Biggest Gains in Rank
➺ Biggest Gains in Units Managed
➺ New Entrants in 2016
➺ Dropouts in 2016

Introduction

The NMHC just released its 2016 rankings for Multifamily in various categories:   We relished the opportunity to download the raw data from NMHC, put it in Google Sheets, and play around with it to compare the 2016 rankings with that of 2015.

As a tiny explainer, NMHC ranks companies in the Multifamily industry every year in various categories:   Owners, Managers, Developers and Contractors.  These rankings are now followed keenly by the insiders in the industry and provide insights into the size and scale of not just the multifamily operators but also the multifamily industry in general.

Highlights of NMHC Top 50 Managers

Top 10 NMHC Managers for 2016

Here are the Top 10 Property Managers for 2016.  These companies have consistently maintained their position in the top 10-15 for the past 5 years.

Greystar has had a major growth spurt recently and has almost quadrupled the number of units it manages in the past 5 years.

The first thing that strikes you is that Greystar is huge.  Really huge!   Greystar is not only number 1 on this list, but also comfortably bigger than number 2.  It is two and a half times its next competitor Lincoln Property Company and manages nearly 250,000 more units than Lincoln.  Greystar has had a major growth spurt recently and has almost quadrupled the number of units it manages in the past 5 years.

 

PROPERTY MANAGER RANK (2016) RANK (2015) UNITS (2016) UNITS (2015)
Greystar Real Estate Partners, LLC 1 1 413,679 393,079
Lincoln Property Company 2 2 165,251 164,416
Pinnacle 3 3 134,725 131,790
Equity Residential 4 4 109,540 109,225
WinnCompanies 5 5 98,817 96,955
FPI Management, Inc. 6 8 98,401 76,500
Alliance Residential Company 7 7 88,028 82,123
Apartment Management Consultants, LLC 8 10 80,195 71,483
MAA 9 6 79,496 82,316
AvalonBay Communities, Inc. 10 9 73,944 72,323

 

Biggest Gains in Manager Rank from 2015 to 2016

The Lynd Company saw the biggest jump in its rank, +13 points from being the last on the list in 2015 to 37 this year.

These are the companies that showed the biggest gains in rank from 2015 to 2016. The Lynd Company saw the biggest jump in its rank, +13 points from being the last on the list in 2015 to 37 this year.  Additionally, Lynd increased its properties by almost 27% in just one year.

 

PROPERTY MANAGER RANK (2016) RANK (2015) RANK CHANGE
The Lynd Company 37 50 +13
RAM Partners, LLC 35 45 +10
The Michaels Organization 21 26 +5
Fairfield Residential Company LLC 14 18 +4
Village Green 28 32 +4
Weidner Apartment Homes 26 29 +3
Morgan Properties 38 41 +3

 

Biggest Gains in Units Managed from 2015 to 2016

These are the companies that showed the biggest jump in the total number of units under management.  FPI Management leads the list with an increase of 21,901 units from last year.  And, while Greystar doubled the number of units from 2014 to 2015, it came in 2nd this year by adding 20,600 units.

 

PROPERTY MANAGER RANK (2016) UNITS (2016) UNITS (2015) CHANGE IN UNITS
FPI Management, Inc. 6 98,401 76,500 +21,901
Greystar Real Estate Partners, LLC 1 413,679 393,079 +20,600
Apartment Management Consultants, LLC 8 80,195 71,483 +8,712
Steadfast Companies ✧ 34 34,806 26,529 +8,277
Monarch Investment and Management Group ✧ 48 28,547 20,520 +8,027

✧ New in NMHC Top Managers 2016

 

New Entrants to the NMHC Top 50 Managers 2016 Ranking

We had 7 new entrants to the NMHC Top 50 Managers list this year.  GoldOller and Steadfast made impressive entries jumping from outside the Top 50 in 2015 to take on positions 30 and 34, respectively, in 2016.

 

PROPERTY MANAGER RANK (2016) UNITS  (2016)
GoldOller Real Estate Companies 30 40,820
Steadfast Companies 34 34,806
Cortland Partners, LLC 41 32,241
Kettler Management 44 30,828
ZRS Management, LLC 45 30,410
Monarch Investment and Management Group 48 28,547
Pegasus Residential 50 27,634

 

Dropouts from NMHC Top 50 Managers 2016 Ranking

Finally, we have the following who dropped out of the Top 50 Managers list.   The most significant of these is Home Properties Inc., which was acquired by Lone Star Fund in 2015.

 

PROPERTY MANAGER RANK (2015) UNITS (2015)
Home Properties, Inc. 27 42,107
U.S. Residential Group LLC 31 38,942
Harbor Group International 37 33,235
JRK Property Holdings, Inc. 40 31,852
CompassRock Real Estate LLC 42 30,188
LivCor, LLC 46 29,000
Orion Real Estate Services, Inc. 48 28,214
Cottonwood Residential 49 27,711

 

Conclusion

The NMHC Manager Rankings in 2016 saw some significant movement and at the same time displayed consistency.

The NMHC Manager Rankings in 2016 saw some significant movement and at the same time displayed consistency. The top 10 property managers maintained their spots within the top 10 although there was some shifting a rank or two above and below.  The top 5 ranks however remained unchanged from 2015 to 2016. The significant movement is seen in the bottom half of the rankings where almost eight property managers were dropped from the list and seven new companies were added on to the list. The most significant of these is GoldOller Real Estate which made a straight jump from not making the list last year to rank 30 this year.