The following is a condensed version of the apartment owners portion of the 2005 NMHC 50, an annual ranking of the 50 largest U.S. apartment owners and managers published in NREI's April issue. The companies below are ranked according to the number of apartment units in which they had an ownership interest as of Jan. 1, 2005.

*Based on estimates from previous year

  1. CharterMac
    Headquarters:
    New York, NY
    CEO: Stuart J. Boesky
    Apartments with Ownership
    Interest: 324,711

  2. Apartment Investment and Management Co.
    Headquarters:
    Denver, CO
    CEO: Terry Considine
    Apartments with Ownership
    Interest: 256,608

  3. Equity Residential
    Headquarters:
    Chicago, IL
    CEO: Bruce W. Duncan
    Apartments with Ownership
    Interest: 200,149

  4. MMA Financial LLC
    Headquarters:
    Baltimore, MD
    CEO: Michael L. Falcone
    Apartments with Ownership
    Interest: 181,501

  5. SunAmerica Affordable Housing Partners Inc.
    Headquarters:
    Los Angeles, CA
    CEO: Michael L. Fowler
    Apartments with Ownership
    Interest: 136,539

  6. Boston Capital Corp.
    Headquarters:
    Boston, MA
    CEO: John P. Manning
    Apartments with Ownership
    Interest: 129,971

  7. Morgan Stanley
    Headquarters:
    New York, NY
    CEO: Phillip Purcell
    Apartments with Ownership
    Interest: 100,000

  8. United Dominion Realty Trust Inc.
    Headquarters:
    Richmond, VA
    CEO: Thomas W. Toomey
    Apartments with Ownership
    Interest: 79,291

  9. Archstone-Smith
    Headquarters:
    Englewood, CO
    CEO: R. Scot Sellers
    Apartments with Ownership
    Interest: 75,959

  10. Lefrak Organization Inc.*
    Headquarters:
    Rego Park, NY
    CEO: Richard LeFrak
    Apartments with Ownership
    Interest: 71,000

  11. The Enterprise Social Investment Corp.
    Headquarters:
    Columbia, MD
    CEO: Frank Narron
    Apartments with Ownership
    Interest: 68,261

  12. Alliance Holdings LLC
    Headquarters:
    Chicago, IL
    CEO: Andrew W. Schor
    Apartments with Ownership
    Interest: 63,510

  13. The Richman Group Affordable Housing Corp.
    Headquarters:
    Greenwich, CT
    CEO: Richard P. Richman
    Apartments with Ownership
    Interest: 57,505

  14. Sentinel Real Estate Corp.
    Headquarters:
    New York, NY
    CEO: John H. Streicker
    Apartments with Ownership
    Interest: 56,597

  15. GE Commercial Finance Real Estate
    Headquarters:
    Stamford, CT
    CEO: Michael Pralle
    Apartments with Ownership
    Interest: 52,002

  16. Camden Property Trust
    Headquarters:
    Houston, TX
    CEO: Richard J. Campo
    Apartments with Ownership
    Interest: 51,456

  17. Edward Rose Building Enterprise
    Headquarters:
    Farmington Hills, MI
    CEO: Sheldon Rose Apartments with Ownership
    Interest: 51,334

  18. PNC MultiFamily Capital
    Headquarters:
    Portland, OR
    CEO: Don Giffen
    Apartments with Ownership
    Interest: 50,375

  19. Lincoln Property Co.
    Headquarters:
    Dallas, TX
    CEO: J. Timothy Byrne
    Apartments with Ownership
    Interest: 46,367

  20. Wachovia
    Headquarters:
    Charlotte, NC
    CEO: Ken Thompson
    Apartments with Ownership
    Interest: 45,903

  21. Fairfield Residential LLC
    Headquarters:
    San Diego, CA
    CEO: Christopher E. Hashioka
    Apartments with Ownership
    Interest: 42,185

  22. Home Properties Inc.
    Headquarters:
    Rochester, NY
    CEO: Edward J. Pettinella
    Apartments with Ownership
    Interest: 41,797

  23. AvalonBay Communities Inc.
    Headquarters:
    Alexandria, VA
    CEO: Bryce Blair
    Apartments with Ownership
    Interest: 39,020

  24. Michaels Development Co.
    Headquarters:
    Marlton, NJ
    CEO: Robert J. Greer
    Apartments with Ownership
    Interest: 38,958

  25. Mid-America Apartment Communities Inc.
    Headquarters:
    Memphis, TN
    CEO: H. Eric Bolton, Jr.
    Apartments with Ownership
    Interest: 37,904