Greystar becomes top apartment owner, manager, and developer in 2024

Greystar becomes top apartment owner, manager, and developer in 2024 0 qpurcell Fri, 04/12/2024 - 09:01 MFPRO+ News One firm set records for this year’s National Multifamily Housing Council Top 50 roundup of multifamily firms. Greystar now sits at number one in the NMHC’s lists for top apartment owner, manager, and developer in 2024. Quinn Purcell, Managing Editor The firm also sits at third in the National Multifamily Housing Council’s 25 Largest Builders list. MFPRO+ News Student Housing Apartments Facility Managers Building Owners Industry Research Lists One firm set records for this year’s National Multifamily Housing Council Top 50 roundup of multifamily firms. Greystar now sits at the number one spot in the NMHC’s lists for top apartment owner, manager, and developer in 2024.This marks the 14th year in a row that Greystar has landed as Top Manager in the NMHC list. Additionally, this is Greystar’s fourth consecutive year as both Top Owner and Top Developer.As of this year, Greystar owns 108,566 units, manages 798,272 units, and has started development of 9,151 units.NMHC 50 Largest Apartment OwnersGreystar took the number one spot this year, jumping up from second in 2023. MAA, which owns 100,894 units in 2024, and Morgan Properties, which owns 92,935, took second and third respectively.Over 80% of Greystar’s owned units are market rate, 17% are student housing units, and 3% are others.Top Apartment Owners: Greystar (108,566 units) rose to firstMAA (100,894 units) dropped to secondMorgan Properties (92,935 units) stayed in thirdNuveen (84,697 units) rose to fourth, from seventhAvalonBay Communities (82,565 units) dropped to fifth, from fourthEquity Residential (80,191 units) dropped to sixth, from fifthThe Michaels Organization (77,683 units) rose to seventh, from 13thCortland (74,831 units) dropped to eighth, from sixthMonarch Investment (73,026 units) dropped to ninth, from eighthThe Related Companies, LP (72,423 units) dropped to 10th, from ninthNMHC 50 Largest Apartment ManagersGreystar stayed in the number one spot this year, marking its 14th year in a row to do so. Asset Living, which manages 291,322 units, jumped from third to second place in 2024. RPM Living manages 226,169 units, rising three spots from sixth to third this year.Nearly all (92%) of housing units managed by Greystar are market rate, while just under 5% are student housing and 3% are others. Top Apartment Managers: Greystar (798,272) stayed in firstAsset Living (291,322) rose to second, from thirdRPM Living (226,169 units) rose to third, from sixthWillow Bridge Property Company (201,472 units) dropped to fourth, from secondCurshman & Wakefield (182,214 units) dropped to fifth, from fourthFPI Management, Inc. (167,767 units) dropped to sixth, from fifthApartment Management Consultants, LLC (145,697 units) stayed in seventhAvenue5 Residential, LLC (121,932) rose to eighth, from 10thBH (113,993 units) dropped to ninth, from eighthWinnCompanies (109,037 units) dropped to 10th, from ninthNMHC 25 Largest DevelopersGreystar rose from second to first place in 2024 for largest developers. Mill Creek Residential started just over 8,000 units in 2023, rising from third place from second this year. Trammell Crow Residential started 5,823 units last year and has gone from fifth place to third in this year’s ranking.Top Apartment Developers: Greystar (9,151 units) rose to first, from secondMill Creek Residential (8,022 units) rose to second, from thirdTrammell Crow Residential (5,823 units) rose to third, from fifthWood Partners (5,137 units) stayed in fourthHillpointe, LLC (4,861 units) rose to fifth, from 13thAlliance Residential (4,628 units) dropped to sixth, from firstThe Michaels Organization (4,292 units) took seventhCore Spaces (4,030 units) took eighthHines (3,670 units) rose to ninth, from 17thD.R. Horton Inc. (3,433 units) stayed in 10th