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1. Greystar Real Estate Partners

Greystar Real Estate Partners is the largest property management company with almost ​700,000 managed units in 2022. That’s up slightly from the 669,00 units managed in 2021. The ​company is headquartered in Charleston, South Carolina, but has offices throughout the ​country and properties in all 50 states. Uniquely, the company invests in property ​development in addition to property management. Greystar was listed in NMHC’s Top Owner, ​Top Developer and Top Builder listings for 2022.

2. Lincoln Property Company

Lincoln Property Company is a distant second, with a stable 210,000 managed units in 2022 ​and 2021. The Dallas, Texas company has a sizeable portfolio of military properties. It was also ​a 2022 Top Owner.

3. Cushman & Wakefield

Cushman & Wakefield is also based in Dallas, and has a stable portfolio of ~170,000 units in ​2021 and 2022. Current unit counts approximately match those from 2008. This is the largest ​listed company that’s steady but not growing quickly.

4. Asset Living

Asset Living continues to grow under CO Ryan McGrath’s 35+ years of leadership. The Houston, ​Texas company jumped from 103,000 units in 2021, to 159,000 units in 2022. A number of these ​units are student housing.

5. FPI Management

Based in Folsom, California, FPI Management has ~140,000 units throughout the United States, ​excluding the Northeast. That’s up from 129,500 in 2021. The company has been expanding ​into the Southeast.

6. Apartment Management Consultants, LLC

Apartment Management Consultants, LLC is from Cottonwood Heights, Utah. The company ​grew approximately 13% from 2021 to 2022, increasing its unit count from 100,300 to 113,700. ​These are all market-rate units.

7. RPM Living

RPM Living is among the newest large property managers, having started in just 2020. The ​company grew from 81,500 units in 2021, to 112,000 units in 2022. The Austin, Texas company is ​mostly in the Central and Southeast U.S.

8. BH

BH is a well-established property management company from Des Moines, Iowa. The ​company has steadily been increasing its portfolio for more than 20 years. The portfolio went ​from 100,000 units to 106,000 between 2021 and 2022.

9. WinnCompanies

WinnCompanies from Boston, Massachusetts manages 103,000 properties throughout all 50 ​states. That’s nominally up from 101,000 in 2021. More than one-third is military housing. The ​company’s growth has been slow for the past ~10 years.

10. MAA

MAA from Germantown, Tennessee has 100,000, which is the same as in 2021. These are all ​market-rate units throughout the Midwest, Central, and Southern U.S. The company was also ​a 2022 Top Owner, as it manages many of its own properties.

11. Morgan Properties

Morgan Properties develops and manages properties in the Midwest, South and Mid-Atlantic. ​The company’s reach is increasing as it grows, however. The company increased from 94,300 ​units in 2021, to 96,100 in 2022. It’s also a 2022 Top Owner.

12. Avenue5 Residential, LLC

Avenue5 Residential, LLC has only been in business for 5 years, but those are 5 years of ​steady growth. It expanded from 75,800 to 86,900 units between 2021 and 2022. The company ​is out of Seattle, Washington.

13. Bozzuto

Bozzuto is slowly expanding through development. The firm was a 2022 Top Developer, and ​went from 80,000 to 83,300 units between 2021 and 2022. These are throughout the West ​Coast, East Coast, and Upper Midwest. The company is in Greenbelt, Maryland.

14. AvalonBay Communities, Inc

AvalonBay is a 2022 Top Manager, Top Owner, Top Developer, and Top Builder from Arlington, ​Virginia. It’s slowly increasing units, which only went from 79,700 in 2021 to 80,500 in 2022.

15. Highmark Residential

Highmark Residential from Dallas, Texas is cementing itself as a major property management ​company. It has 79,000 units, up from 68,300 in 2021. These are everywhere except the West ​Coast and New England.

16. Equity Residential

Equity Residential continues to be one of the largest property management companies, but ​its holdings are in decline. The Chicago, Illinois company had 77,800 units in 2021, and just ​77,300 in 2022. It is a 2022 Top Owner, however.

17. RangeWater Real Estate

RangeWater Real Estate is quickly making a splash, having grown to 74,100 units in just three ​years. Its 2021 count was 53,100. The newer company is based in Atlanta, Georgia.

18. Bell Partners

Greensboro, North Carolina Bell Partners has had oscillating holdings over the past 13 years, ​but they increased from 62,400 to 68,800 between 2021 and 2022. The company is everywhere ​except the Midwest.

19. Edward Rose Building Enterprise

Edward Rose Building Enterprise has some of the most consistent historical growth. The ​continued trend took this company from 67,000 units in 2021, to 68,300 in 2022. The company ​from Bloomfield Hills, Michigan is also a 2022 Top Owner.

20. Monarch Investment & Management Group

The Monarch Investment & Management Group is both a 2022 Top Manager and 2022 Top ​Owner. The company went from 63,700 units in 2021, to 66,900 a year later. It’s based in ​Franktown, Colorado.

By David Luke, January 29, 2024 CRE News