Among the many companies in the real estate industry, the biggest apartment owner in the United States is Independence Realty Trust. This company is involved in the leasing and selling of apartment properties in over 30 states. The company is made up of several different companies. These include Greystar Real Estate Partners, Avalon Bay Communities, Morgan Properties, Mid-America Apartment Communities, and Starwood Hotels and Resorts.
Founded in 1970, Mid-America Apartment Communities is the largest owner-operator network of apartment homes in the United States. The company is headquartered in Germantown, Tennessee, and owns or has interests in over 79,500 apartments in 15 states. The company focuses on investing in multifamily residences, development, and redevelopment. Mid-America Apartment Communities Inc focuses on acquiring and developing quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions. The company's portfolio includes over 40,000 apartments, and its holdings are located in Texas, North Carolina, Georgia, and Florida. It derives almost all of its income from rental revenue. Mid-America Apartment Communities has a market capitalization of $18 billion. The company is one of the 50 largest apartment owners in the United States. In 2016, Mid-America bought Post Properties in a deal worth $3.9 billion. Founded in 1993, Greystar Real Estate Partners, LLC is a fully integrated real estate company. Greystar's investment strategy focuses on opportunities that drive value at the property level. Greystar's track record of strategic acquisitions and global expansion has helped the company become a global leader in rental housing. Greystar's development and management portfolios total over $200 billion of real estate. Greystar has offices in more than 130 markets worldwide, including a strong presence in the U.S., Latin America, and Europe. The company has an established institutional investment management platform and extensive relationships with lenders, developers, and institutions. Greystar manages over 782,900 units globally. In addition to developing and managing properties, the company has an established portfolio of investment properties, including single-asset acquisitions. Greystar's property management business also offers to finance to residential rental property owners. Founded in 1978, Avalon Bay Communities is the largest apartment owner in the United States. This real estate investment trust (REIT) holds more than 80,000 residential units. Avalon Bay Communities owns a portfolio of luxury apartment communities in 11 states. The company has also acquired large land parcels in major markets. Currently, Avalon owns or has interests in 285 apartment communities. The portfolio is divided into Northeast, Mid-Atlantic, and Pacific Northwest sectors. Avalon has increased its earnings and built a brand name in the luxury apartment market. The company has also been able to maintain a healthy balance sheet. Currently, the company is valued at $31 billion. Founded in 1985 by Mitchell Morgan, Morgan Properties is a private multifamily investment firm based in King of Prussia, Pennsylvania. Morgan Properties owns and operates a portfolio of more than 93,000 apartment units across 19 states and Washington, D.C. The firm focuses on the acquisition of infill and high-barrier markets. Morgan Properties is committed to delivering an outstanding apartment living experience to all residents while maintaining the highest value. Morgan Properties invests time and effort in their communities, employees, and tenants. The company's core values are integrity, operational expertise, strong capital relationships, and quick decision-making. The firm is dedicated to ensuring its residents have the opportunity to realize their dreams. During the first two years of the economic downturn, Starwood Capital Group was a fierce buyer of rental houses. It boosted its position in the National Multifamily Housing Council's Top 50 owners list by acquiring or under contract to acquire approximately 67,800 multifamily units during the past year. Starwood Capital also made history by becoming the largest owner of subsidized affordable housing in the United States. The company acquired interests in existing subsidized affordable properties in several markets across the country, including manufactured home communities and commercial office properties. Starwood Capital Group also made several other notable investments. The company acquired a 50% interest in Walker Tower, a mid-rise apartment building in New York City's Chelsea neighborhood. It also acquired the Urbeo platform in Ireland and Dovevivo platform in Southern Europe. During the last year, Independence Realty Trust acquired more than 20,000 units. The company has more than 35,000 units in the U.S. and has 70% exposure to the Sunbelt region. Independence Realty Trust targets major employment centers and amenity-rich submarkets through capital recycling and joint venture development. The company is also focused on high-quality retail and school districts. The company can raise rents to keep up with inflation. The company aims to offer attractive risk-adjusted returns through diligent portfolio management and distributions. In addition to its Sunbelt exposure, the company has a strong presence in Southeastern markets. Independence Realty Trust owns a portfolio of apartment communities in the Southeastern United States. The company's portfolio includes 120 communities with 35,594 units. The company's portfolio has an average occupancy rate of 96.2 percent. The company's NOI has grown significantly over the last year.
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AuthorJOE FAIRLESS |