The following list is a condensed version of the apartment owners portion of the 2003 NMHC 50, an annual ranking of the 50 largest U.S. apartment owners and the 50 largest U.S. apartment 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, 2003.

  1. Related Capital Co.
    Headquarters:
    New York, NY
    CEO: Marc D. Schnitzer
    Apartments with Ownership Interest: 275,831

  2. Apartment Investment and Management Co.
    Headquarters:
    Denver, CO
    CEO: Terry Considine
    Apartments with Ownership Interest: 261,000

  3. Equity Residential
    Headquarters:
    Chicago, IL
    CEO: Bruce W. Duncan
    Apartments with Ownership Interest: 223,591

  4. Lend Lease Real Estate Investments
    Headquarters:
    Atlanta, GA
    CEO: David Ross
    Apartments with Ownership Interest: 136,707

  5. Boston Capital Corp.
    Headquarters:
    Boston, MA
    CEO: John P. Manning
    Apartments with Ownership Interest: 118,000

  6. SunAmerica Affordable Housing Partners Inc.
    Headquarters:
    Los Angeles, CA
    CEO: Michael L. Fowler
    Apartments with Ownership Interest: 117,000

  7. Archstone-Smith
    Headquarters:
    Englewood, CO
    CEO: R. Scot Sellers
    Apartments with Ownership Interest: 99,840

  8. United Dominion Realty Trust Inc.
    Headquarters:
    Richmond, VA
    CEO: Thomas W. Toomey
    Apartments with Ownership Interest: 74,678

  9. Lefrak Organization Inc.
    Headquarters:
    Rego Park, NY
    CEO: Samuel J. LeFrak
    Apartments with Ownership Interest: 71,000

  10. Sentinel Real Estate Corp.
    Headquarters:
    New York, NY
    CEO: John H. Streicker
    Apartments with Ownership Interest: 63,775

  11. Whitehall Funds
    Headquarters:
    New York, NY
    CEO: Daniel Neidich
    Apartments with Ownership Interest: 59,239

  12. Alliance Holdings LLC
    Headquarters:
    Chicago, IL
    CEO: Andrew W. Schor
    Apartments with Ownership Interest: 57,513

  13. Key Bank Real Estate Capital, Private Equity Group
    Headquarters:
    Cleveland, OH
    CEO: Edward Chu, Sr.
    Apartments with Ownership Interest: 52,334

  14. Camden Property Trust
    Headquarters:
    Houston, TX
    CEO: Richard J. Campo
    Apartments with Ownership Interest: 50,790

  15. Home Properties
    Headquarters:
    Rochester, NY
    CEO: Norman P. Leenhouts/Nelson B. Leenhouts
    Apartments with Ownership Interest: 49,837

  16. Edward Rose Building Enterprise
    Headquarters:
    Farmington Hills, MI
    CEO: Sheldon Rose
    Apartments with Ownership Interest: 49,307

  17. Lincoln Property Co.
    Headquarters:
    Dallas, TX
    CEO: J. Timothy Byrne
    Apartments with Ownership Interest: 48,852

  18. The Richman Group Capital Corp.
    Headquarters:
    Greenwich, CT
    CEO: David A. Salzman
    Apartments with Ownership Interest: 46,500

  19. Columbia Housing
    Headquarters:
    Portland, OR
    CEO: David Sebastian
    Apartments with Ownership Interest: 40,311

  20. AvalonBay Communities Inc.
    Headquarters:
    Alexandria, VA
    CEO: Bryce Blair
    Apartments with Ownership Interest: 39,807

  21. Fairfield Residential LLC
    Headquarters: San Diego, CA
    CEO: Christopher E. Hashioka
    Apartments with Ownership Interest: 39,126

  22. G.E. Real Estate
    Headquarters:
    Stamford, CT
    CEO: Michael Pralle
    Apartments with Ownership Interest: 37,666

  23. Milstein Properties
    Headquarters:
    New York, NY
    CEO: Howard P. Milstein
    Apartments with Ownership Interest: 37,000

  24. Forest City Enterprises Inc.
    Headquarters:
    Cleveland, OH
    CEO: Charles A. Ratner
    Apartments with Ownership Interest: 36,244

  25. Mid-America Apartment Communities Inc.
    Headquarters:
    Memphis, TN
    CEO: H. Eric Bolton Jr.
    Apartments with Ownership Interest: 33,923