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AMO[R] firms among NMHC Top 50. (News Extra).

Nearly 30 percent of the country's Top 50 Apartment Management Firms as rated by the National Multi Housing Council, are ACCREDITED MANAGEMENT ORGANIZATION(r) (AMO(r)) firm members of IREM.

Fourteen AMO firms made the NMHC 2002 list, including Pinnacle Realty Management Company, which earned third place with 113,546 units and Lincoln Property Company, which placed fourth with a total apartment portfolio of 103,255 units.

The NMHC 50 of apartment management, which ranks the 50 largest apartment managers, grew by almost 4 percent, a rebound from last year, when there was essentially no change in the number of apartments managed by the top 50 firms. The NMHC 50 managers manage 2.44 million apartments, just over 15 percent of the nation's total apartment stock.

New to the list this year are AMO firms Fairfield Residential, which manages 49,230 apartments and Legacy Partners, with 29,333 apartments under management.

Apartment Investment and Management Company (AIMCO) retained the top spot among the NMHC 50 managers with 303,805 apartment units.

The NMHC 50 profile also revealed that, once again, management concentration increased. The top 10 apartment managers now manage 7.2 percent of the nation's apartments--an increase from last year, though still down slightly from 2000 levels. The top 25 firms increased their management share to 11.1 percent of the apartment stock, a new record.

RELATED ARTICLE: AMO Firm Rankings

#3 Pinnacle Realty Management Company

113,546 units

#4 Lincoln Property Company

103,255 units

#11 Camden Property Trust

52,650 units

#13 Fairfield Residential LLC

49,230 units

#26 Lane Company

31,290 units

#29 LEDIC Management Group, Inc.

29,964 units

#30 Legacy Partners

29,333 units

#31 Village Green Companies

29,000 units

#37 Forest City Enterprises

25,047 units

#40 FPI Management Inc.

24,357 units

#41 EPT Management Company

24,147 units

#46 Drucker & Falk LLC

22,305 units

#47 Western National Group

22,238 units

#50 Picerne Real Estate Group

21,105 units

Source: National Multi-Housing Council
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Title Annotation:accredited management organizations among National Multi Housing Council 2002 list
Publication:Journal of Property Management
Article Type:Brief Article
Geographic Code:1USA
Date:May 1, 2002
Words:335
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