National Real Estate Investor is pleased to present the 11th annual compilation of the NMHC 50, the National Multi Housing Council's (NMHC's) authoritative ranking of the nation's

* 50 largest apartment owners and

* 50 largest apartment managers

Based in Washington, D.C., the National Multi Housing Council represents the interests of the larger and more prominent firms in the nation's multifamily rental housing industry. NMHC provides leadership for the apartment industry on legislative and regulatory matters, advances research and the exchange of strategic business information, and promotes the desirability of apartment living. NMHC's members are engaged in all aspects of the development and operation of apartment housing, including ownership, construction, management and finance of such communities.

The NMHC 50 has become, over the years, the definitive source of information on trends in apartment ownership and management. To ensure the 2000 NMHC is as accurate as possible, NMHC staff gathered names of apartment owners and managers from a wide range of sources. A senior officer from each firm was contacted for the information included in the rankings, which are for properties owned or managed on January 1, 2000. Although membership in the National Multi Housing Council is not required for inclusion in the survey, 96% of the firms appearing in this year's rankings are NMHC members. NMHC expresses appreciation to the industry leaders for their participation in this annual effort.

The NMHC 50 was compiled and analyzed by NMHC staff members Doris Collins, Jack Goodman, Jonathan Kempner and Joe McCahill. The NMHC 50 tallies rental apartments. Condominiums and cooperatives are excluded, although this year the analysis includes a separate discussion of the largest managers of condos and coops. Also excluded from the NMHC 50 counts are hotel rooms, nursing homes, hospital rooms and mobile homes. Pension fund advisory firms are listed only if they have direct ownership interests (as opposed to interests as fiduciaries) or serve directly as property managers.

In addition to the NMHC 50 rankings and analysis of the results, this section includes a listing of the officers and members of the National Multi Housing Council. NMHC staff biographies round out the section.

For those interested in joining the apartment industry's leadership, NMHC welcomes inquiries to its Washington offices at 202/974-2300, or you can visit NMHC's website at www.nmhc.org.