With all of the more recent deal flow in the apartment-REIT arena, we thought it would be nice to take a real snapshot-look at the leading apartment REITs. So, NREI and New York-based Bear, Stearns teamed up to present the top 10 apartment REITs as of the end of the 1900s. These rankings are based on information provided by Bear, Stearns, and reflect total equity market capitalization (not including debt) as of Oct. 15.
As you will notice, there is quite a discrepancy between No. 1 Equity Residential Properties Trust and the rest of the field. But then that just gives everyone else something big to shoot for, right?
1 Equity Residential Properties Trust Two North Riverside Plaza, Suite 600 Chicago, IL 60606 (312) 474-1300
FAX: (312) 454-0805
Contact: Douglas Crocker II, President & CEO
Equity Market Capitalization: $6.9 billion
No. of Units: 193,615
Companies acquired or merged: Lexford Residential Trust, Merry Land & Investment Co. Inc., Wellsford Residential Properties Trust, Evans Withycombe Residential
2 Apartment Investment and Management Co. 1873 South Bellaire St. Suite 1700 Denver, CO 80222-4348 (303) 757-8101
FAX: (303) 757-8735
Contact: Terry Considine, Chairman & CEO; Peter Kompaniez, President
Equity Market Capitalization: $3.6 billion
No. of Units: 233,040
Companies acquired or merged: NHP Inc., Insignia Financial Group, Ambassador Apartments Inc.
3 Archstone Communities 7670 S. Chester St., Suite 100 Englewood, CO 80112 (303) 708-5959
FAX: (303) 708-5999
Contact: R. Scott Sellers, President & CEO
Equity Market Capitalization: $3.1 billion
No. of Units: 69,412
Companies acquired or merged: Security Capital Pacific, Security Capital Atlantic
4 AvalonBay Properties 2900 Eisenhower Drive Suite 300 Alexandria, VA 22314 (703) 329-6300
FAX: (703) 320-1459
Contact: Richard L. Michaux, CEO
Equity Market Capitalization: $2.5 billion
No. of Units: 32,439
Companies acquired or merged: Avalon Properties Inc., Bay Apartment Communities
5 Post Properties Inc. One Riverside 4401 Northside Parkway Suite 800 Atlanta, GA 30327-3057 (404) 846-5000
FAX: (404) 504-9367
Contact: John A. Williams, Chairman & CEO; John T. Glover, President
Equity Market Capitalization: $1.9 billion
No. of Units: 28,326
Companies acquired or merged: Columbus Realty Trust
6 United Dominion Realty Trust Inc. 10 S. Sixth St., Suite 203 Richmond, VA 23219 (804) 780-2691
FAX: (804) 343-1912
Contact: John P. McCann, President & CEO
Equity Market Capitalization: $1.6 billion
No. of Units: 85,402
Companies acquired or merged: ASR Investments Corp., American Apartment Communities II, South West Property Trust Inc.
7 Camden Property Trust Three Greenway Plaza Suite 1300 Houston, TX 77046 (713) 354-2500
FAX: (713) 354-2599
Contact: Richard Campo, Chairman & CEO; Keith Oden, President & COO
Equity Market Capitalization: $1.3 billion
No. of Units: 51,490
Companies acquired or merged: Oasis Residential Inc., Paragon Group Inc.
8 BRE Properties Inc. 44 Montgomery St. 36th Floor San Francisco, CA 94104 (415) 445-6530
FAX: (415) 445-6505
Contact: Frank C. McDowell, President & CEO
Equity Market Capitalization: $1.2 billion
No. of Units: 22,062
Companies acquired or merged: REIT of California, Trammell Crow Residential-West
9 Gables Residential Trust 2859 Paces Ferry Road Suite 1450 Atlanta, GA 30339 (770) 436-4600
FAX: (770) 435-7434
Contact: Chris Wheeler, President & CEO
Equity Market Capitalization: $965 million
No. of Units: 25,306
Companies acquired or merged: Trammell Crow Residential - S. Fla.
10 Walden Residential Properties Inc. 5080 Spectrum Drive Suite 1000 East Dallas, TX 75248 (972) 788-0510
FAX: (972) 788-1550
Contact: Marshall Edwards, President & CEO
Equity Market Capitalization: $831 million
No. of Units: 40,220
Companies acquired or merged: Drever Partners Inc.