Five Virginia companies make Top 50 list for apartment management and ownership
The National Multifamily Housing Council (NMHC) has named three Virginia-based companies to its 2016 list of the Top 50 multifamily property managers in the country and two other companies to its Top 50 Owner list.
The lists are based on number of units managed or owned.
Coming in at No. 10 was Avalon Bay Communities Inc. based in Arlington, which manages 73,944 units. Kettler Management located at Tysons was No. 44 with 30,828 units under management, and Drucker & Falk in Newport News ranked No. 49 with 28,458 units.
“As a third-party fee manager, we understand that owners have a choice in management firms. We earn our client’s business at every property, every day, and we know resident satisfaction and NOI performance are inextricably linked,” Drucker & Falk President and COO Jim Ledbetter said in a statement announcing the award.
The real estate and investment firm’s apartment portfolio is located in 10 states including Virginia, Maryland, North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Indiana and Missouri.
Avalon Bay also made the NMHC’s Top 50 list of top apartment owners based on portfolio size. Avalon ranked No. 10 with 75,584 apartment units. Southern Management Corp. in Vienna came in at No. 47 with 25,114 units while Harbor Group International in Norfolk was No. 49 with 23,972 units