The following is a condensed version of the apartment management portion of the 2008 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 they managed as of Jan. 1, 2008.

1. AIMCO

   Headquarters:
   Denver, CO
   CEO: Terry Considine
   Apartments with Management Interest: 195,888

2. American Management Services (dba Pinnacle)

   Headquarters:
   Seattle, WA
   CEO: Stan Harrelson
   Apartments with Management Interest: 165,322

3. Riverstone Residential Group, A Consolidated American Services Company

   Headquarters:
   Dallas, TX
   CEO: Christy Freeland, Terry Danner, & Keith Miles
   Apartments with Management Interest: 155,235

4. Equity Residential

   Headquarters:
   Chicago, IL
   CEO: David J. Neithercut
   Apartments with Management Interest: 154,152

5. Lincoln Property Company

   Headquarters:
   Dallas, TX
   CEO: Tim Byrne
   Apartments with Management Interest: 132,432

6. Greystar Real Estate Partners, LLC

   Headquarters:
   Houston, TX
   CEO: Robert A. Faith
   Apartments with Management Interest: 93,954

7. Archstone-Smith

   Headquarters:
   Englewood, CO
   CEO: R. Scot Sellers
   Apartments with Management Interest: 87,667

8. UDR, Inc.

   Headquarters:
   Highlands Ranch, CO
   CEO: Thomas W. Toomey
   Apartments with Management Interest: 70,591

9. WinnCompanies

   Headquarters:
   Boston, MA
   CEO: Samuel Ross
   Apartments with Management Interest: 69,867

10. Wachovia

    Headquarters:
    Charlotte, NC
    CEO: Ken Thompson
    Apartments with Management Interest: 69,000

11. Camden Property Trust

    Headquarters:
    Houston, TX
    CEO: Ric Campo
    Apartments with Management Interest: 62,558

12. BlackRock Realty

    Headquarters:
    San Francisco, CA
    CEO: Fred Lieblich
    Apartments with Management Interest: 59,665

13. Fairfield Residential LLC

    Headquarters:
    San Diego, CA
    CEO: Chris Hashioka
    Apartments with Management Interest: 59,479

14. AvalonBay Communities, Inc.

    Headquarters:
    Alexandria, VA
    CEO: Bryce Blair
    Apartments with Management Interest: 54,687

15. Edward Rose & Sons

    Headquarters:
    Farmington Hills, MI
    CEO: Warren Rose
    Apartments with Management Interest: 51,845

16. Alliance Residential Company

    Headquarters:
    Phoenix, AZ
    CEO: Bruce C. Ward
    Apartments with Management Interest: 49,194

17. Capstone Real Estate Services, Inc.

    Headquarters:
    Austin, TX
    CEO: James W. Berkey
    Apartments with Management Interest: 48,532

18. FPI Management

    Headquarters:
    Folsom, CA
    CEO: Dennis Treadaway
    Apartments with Management Interest: 46,588

19. Picerne Real Estate Group

    Headquarters:
    Phoenix, AZ
    CEO: David R. Picerne
    Apartments with Management Interest: 45,566

20. ConAm Group of Companies

    Headquarters:
    San Diego, CA
    CEO: J. Bradley Forrester
    Apartments with Management Interest: 45,500

21. Westdale Real Estate Investment & Management

    Headquarters:
    Dallas, TX
    CEO: Joseph G. Beard
    Apartments with Management Interest: 43,475

22. JPI Companies

    Headquarters:
    Irving, TX
    CEO: Ronald D. Ingram
    Apartments with Management Interest: 43,410

23. CnC Investments Ltd., LLP

    Headquarters:
    Houston, TX
    CEO: Charlie Yalamanchili
    Apartments with Management Interest: 42,647

24. Sentinel Real Estate Corporation

    Headquarters:
    New York, NY
    CEO: John H. Streicker
    Apartments with Management Interest: 42,000

25. The Michaels Development Company

    Headquarters:
    Marlton, NJ
    CEO: Robert Greer
    Apartments with Management Interest: 40,908

26. Mid-America Apartment Communities, Inc.

    Headquarters:
    Memphis, TN
    CEO: H. Eric Bolton, Jr.
    Apartments with Management Interest: 40,248

27. The Irvine Apartment Communities

    Headquarters:
    Irvine, CA
    CEO: Max Gardner
    Apartments with Management Interest: 39,765

28. Sawyer Realty Holdings LLC

    Headquarters:
    Needham, MA
    CEO: David Rosenberg
    Apartments with Management Interest: 39,272

29. Home Properties, Inc.

    Headquarters:
    Rochester, NY
    CEO: Edward J. Pettinella
    Apartments with Management Interest: 38,646

30. Gables Residential

    Headquarters:
    Atlanta, GA
    CEO: David D. Fitch
    Apartments with Management Interest: 38,242