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April 9, 2014

50 Shades of Great

The apartment industry’s strong rally and near record transaction levels led to some notable shake-ups  in the 2014 NMHC 50 – the industry’s annual ranking of top apartment owners and managers.  

Propelled by its acquisition of Centerline Capital Group, Hunt Companies, Inc. (253,295 units owned) jumped to the top spot in the owners list while Greystar Real Estate Partners, LLC (214,696 units managed) topped the NMHC 50 management list for the fourth consecutive year. 

Similarly, MAA broke into the top 10 owner ranks on the strength of its merger with Colonial Properties Trust, as did AvalonBay following its purchase of a portion of Archstone’s assets. Management powerhouse Greystar picked up a portfolio from Equity Residential, helping the firm's impressive debut on the top owners list. Those deals also had a ripple effect on the top managers list as well.

For more highlights from the annual survey, as well as full rankings and detailed analysis, please visit www.nmhc.org/NMHC50

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Top News

NIMBY

New Findings on Housing Vouchers and Crime

A new paper published in Urban Studies challenges a common anti-apartment argument that subsidized housing contributes to higher crime rates. The big takeaway: Vouchers have a weak negative relationship with violent crime rates in cities and no real connection to those rates in suburban areas. Note that the findings apply only to vouchers, not all types of subsidized housing.

 

MEETINGS

Spring Board Meeting Features Harvard's Ed Glaeser

Harvard University professor and pioneering urban economist Ed Glaeser will be a featured speaker at NMHC’s spring board of directors meeting, taking place next month (May 13-14) at the Fairmont Copley Plaza in Boston. (Click here to register.) Glaeser’s work tackles numerous urban issues, including the growth of cities, segregation, crime and housing markets. For some pre-meeting prep, check out this article by Glaeser on the debate over raising the minimum wage.

TRENDS

A More and More Metropolitan America

New Census Bureau population estimates show virtually all of the nation’s population growth is happening in our metro areas, with large metro areas growing at twice the rate of smaller ones. In fact, nearly one in seven Americans reside in just three metro areas—Chicago, Los Angeles or New York. Demographer Cheryl Russell digs further into these trends using the rural-urban continuum to better understand why cities continue to sparkle and urban counties continue to grow.

FINANCE

Freddie Mac on the Multifamily Market

Amid the uncertainty over the long-term future of Fannie Mae and Freddie Mac, one certainty exists: Multifamily mortgage financing continues to perform well for the government-sponsored enterprises. In this Q&A Freddie Mac’s David Brickman talks about the strength of the multifamily market and investors’ appetite for K-Deals. Also, don’t miss this post from Freddie’s blog, which shines the spotlight on NMHC’s report, The Trillion Dollar Apartment Industry.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
High Land Prices Hinder Multifamily Rental Projects

Money Pours into Mezzanine Loans (featuring NMHC staffer David Cardwell)

Lawmakers Look to GSEs’ Multifamily Businesses as a Model for Housing Finance Reform

Essex Closes on BRE Properties Acquisition and Makes a $4.1 Billion Portfolio Deal

TIAA-CREF Expands Reach in D.C. Market with Joint Venture with International Firm

How People’s Spending on Everything from Housing to Booze Changes over a Lifetime

Apartment Industry Benefits from “Amazon Effect” in Seattle

Communal Dog Makes for an “Un-fur-gettable” Community Amenity

For One Neighborhood, Incentive Zoning Fails to Produce Needed New Housing Units

Richard Florida Examines the Gap Between Housing Costs and Wages

NMHC Is Hiring for a Vice President of Capital Markets

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A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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Upcoming Meetings
THIS MONTH
2014 NMHC Research Forum
April 29 & 30, 2014
Georgetown University Hotel & Conference Center in Washington, DC
NEXT MONTH

2014 NMHC Emerging Leaders Speaker Series - Boston
May 12 , 2014
Mandarin Oriental in Boston, MA

2014 NMHC Apartment Strategies/Finance Conference
May 12 & 13, 2014
The Fairmont Copley Plaza in Boston, MA

2014 NMHC Spring Board of Directors Meeting
May 13 & 14, 2014
The Fairmont Copley Plaza in Boston, MA

 

Multifamily Market Dashboard

Apartments and Schools

One of the enduring obstacles thrown at apartment developers in many local jurisdictions is this assumption: A new apartment property will bring in too many children and overburden the local school district.

However, in the latest issue of Research Notes, NMHC’s research team finds that the average number of children in apartments is less than the average for single-family dwellings (both owned and rented). And the difference is even greater for recently built homes.

If the focus is narrowed to just school-age children, apartments contribute even less to demand for schooling. To put this differently, the data show that 100 new apartment homes will have the same number of schoolchildren on average as just 35 new, single-family owner-occupied houses.

 

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