The Nation's 50 Largest Apartment Owners and 50 Largest ...
The Nation's 50 Largest Apartment Owners and 50 Largest ...
The Nation's 50 Largest Apartment Owners and 50 Largest ...
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Top 25 <strong>Apartment</strong> Buyers <strong>and</strong> Sellers in 2011 (by investment volume)<br />
NMHC <strong>50</strong> firms are some of the most active in asset trading.<br />
UDR, Inc.<br />
Equity Residential<br />
AREA Property Partners<br />
TIAA-CREF<br />
AvalonBay Communities<br />
Camden Property Trust<br />
Greystar RE Partners LLC<br />
Essex Property Trust, LLC<br />
Cornerstone RE Advisors<br />
Home Properties, Inc.<br />
Praedium Group<br />
Pantzer Properties<br />
Dune Capital Mgmt<br />
Kennedy Wilson<br />
Angelo Gordon<br />
J.P. Morgan Asset Management<br />
Invesco Real Estate<br />
Waterton Associates<br />
Harbor Group International<br />
Phoenix Realty Group<br />
GID<br />
Allianz<br />
Kayne Anderson<br />
Hartz Mountain Industries<br />
Mid-America APT<br />
$0<br />
Billions<br />
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A SPECIAL SUPPLEMENT TO NATIONAL REAL ESTATE INVESTOR<br />
BUYERS SELLERS<br />
$1 $2<br />
Equity Residential<br />
Bank of America<br />
Lehman Bros. Holdings<br />
Tishman Speyer<br />
RREEF<br />
GE Capital<br />
UDR, Inc.<br />
CalPERS<br />
AvalonBay Communities<br />
Zucker Organization<br />
JPI Multifamily Inc.<br />
Northwestern Mutual<br />
Crescent Heights<br />
J.P. Morgan Asset Management<br />
Carmel Partners<br />
Aimco<br />
Forest City Residential Group Inc.<br />
Fairfield Residential<br />
Legacy Partners<br />
Moinian Group<br />
Verde Realty Group<br />
BLDG Mgmt Co.<br />
Brookfield Asset Management<br />
Dinerstein Companies<br />
Invesco Real Estate<br />
www.ores.com<br />
Contact:<br />
Kirk Tate or Gene Blevins<br />
713-622-5844<br />
$0<br />
Billions<br />
$1 $2<br />
Source: Real Capital Analytics<br />
its garden-style apartments in<br />
favor of buying more upscale<br />
urban apartments. “<strong>The</strong> assets<br />
we are selling are significantly<br />
smaller than the ones we are<br />
buying,” says Neithercut. In<br />
the case of the former, prices<br />
range from about $35 to<br />
$40 million, “which is the middle<br />
of the fairway for Fannie<br />
Mae <strong>and</strong> Freddie Mac,” he says.<br />
“We are buying assets in the<br />
$100 to $1<strong>50</strong> million range.”<br />
In 2011, Equity Residential<br />
sold $1.48 billion worth of properties<br />
<strong>and</strong> bought $1.34 billion.<br />
This year, Neithercut expects<br />
the company to buy <strong>and</strong> sell a<br />
similar amount, roughly $1.25<br />
billion. This works out well, he<br />
says: “We are generating capital<br />
with the disposition process.”<br />
But while there are many<br />
means by which apartment firms<br />
are navigating the year ahead,<br />
a single end seems assured for<br />
most: a successful 2012.<br />
APRIL 2012
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