Top 50 Multi-Family Developers (Property Owners)

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Thanks to strong demand for rental homes across the United States, the multi-family development industry has been growing at a steady and increasing pace since 2021, after the end of the COVID-19 pandemic. Today, multi-family development plays a crucial role in meeting housing needs in urban and suburban areas.

The National Multifamily Housing Council (NHMC) reported that with an increase in multi-family permits of around 27.4% to 566,500 in 2021, the multi-family industry has also started to experience an increase of around 22.1%, reaching 460,100 units.

Top 50 Multi-Family Developers (Property Owners)

If you are a broker, property developer, or even a real estate investor, you need to be well informed and understand the industry as a whole in order to know which developers are worth working with. No worries! NHMC has reported the top 50 multi-family developers as of 2023, which we’ll show below. Let’s check them out!

Top 50 Multifamily Developers

Rank 2023

Company Name CEO Units Owned 2023

Headquarter Office

1 MAA H. Eric Bolton, Jr. 99.676 Germantown, Tennessee
2 Greystar Real Estate Partners LLC Robert A. Faith 98.860 Charleston, South Caroline
3 Morgan Properties Mitchell L. Morgan 93.594 King of Prussia, Pe
4 AvalonBay Communities, Inc. Ben Schall & Sean Breslin 80.325 Arlington, Virginia
5 Equity Residential Mark Parrell 79.594 Chicago, Illinois
6 Cortland Steven DeFrancis & Jason Kern 77.407 Atlanta, Georgia
7 Nuveen Real Estate Jay Martha 73.374 New York City, New York
8 Monarch Investment & Management Group Bob Nicolls 71.661 Franktown, Colorado
9 The Related Companies, LP Jeff Blau 71.184 New York City, New York
10 Edward Rose Building Enterprise Warren Rose 69.567 Bloomfield Hills, Michigan
11 Essex Property Trust, Inc. Michael Schall & Angela Kleiman 62.147 San Mateo, California
12 PGIM Real Estate Catherine Marcus & Yetta Tropper 61.022 Newark, New Jersey
13 The Michaels Organization John J O’Donnell 60.646 Camden, New Jersey
14 Camden Property Trust Richard J. Campo & D. Keith Oden 58.702 Houston, Texas
15 Weidner Apartment Homes W. Dean Weidner 58.556 Kirkland, Washington
16 Harbor Group International, LLC Jordan Slone 58.519 Norfolk, Virginia
17 UDR, Inc. Tom Toomey 58.374 Highlands Ranch, Colorado
18 Lincoln Property Company Tim Byrne 55.147 Dallas, Texas
19 Bridge Investment Group Colin Apple & Matt DeGraw 54.712 Sandy, Utah
20 JPMorgan Brett Kahn 54.506 New York City, New York
21 BH Equities Harry Bookey & Joanna Zabriskie 49.756 Des Moines, Iowa
22 Balfour Beatty Christopher Williams 46.740 Malvern, Pennsylvania
23 FPA Multifamily Gregory A. Fowler 45.200 San Francisco, California
24 GID Gregory Bates 43.886 Atlanta, Georgia
25 TruAmerica Multifamily Robert E. Hart 40.344 Los Angeles, California
26 The Olayan Group Camile G. Saba 40.000 New York City, New York
27 Invesco Real Estate Jackson Lapin & Greg Kraus 39.897 Dallas, Texas
28 Dominium Paul Sween & Mark Moorhouse 39.591 Dallas, Texas
29 Fairfield Residential Company LLC Richard Boynton 38.092 San Diego, California
30 Berkshire Residential Investments David Olney & Alan King 37.036 Boston, Massachusetts
31 Heitman LLC Maury Tognarelli 36.489 Chicago, Illinois
32 Independence Realty Trust Scott Schaeffer & Farrell Ender 35.526 Philadelphia, Pennsylvania
33 American Landmark Joe Lubeck 34.128 Tampa, Florida
34 Knightvest Capital David Moore 33.727 Dallas. Texas
35 Mill Creek Residential William C Macdonald 33.424 Boca Raton, Florida
36 Alliance Residential Jay Hiemenz 32.417 Scottsdale, Arizona
37 Tides Equities Sean Kia & Ryan Andrade 31.942 Los Angeles, California
38 The Millennia Companies Frank Sinito 31.242 Cleveland, Ohio
39 Westdale Real Estate Investment & Management Joseph G. Beard 29.800 Dallas, Texas
40 CWS Capital Partners Steve Sherwood 29.710 Austin, Texas
41 GVA Management Alan Stalcup 29.686 Austin, Texas
42 UBS Realty Investors Matthew Johnson 28.700 Hartford, Connecticut
43 AEW Capital Management, L.P. Jeffrey Furber 28.309 Boston, Massachusetts
44 The NRP Group J. David Heller 27.908 Cleveland, Ohio
45 Sentinel Real Estate Corporation Michael F. Streicker 27.705 New York City, New York
46 MG Properties Mark Gleiberman 27.381 San Diego, California
47 Peak Capital Partners Jeff Danley & Jamie Dunn 27.241 Provo, Utah
48 Waterton David Schwartz 27.165 Chicago, Illinois
49 JRK Property Holdings Jim Lippman & Bobby Lee 26.941 Los Angeles, California
50 Northland Matthew Gottesdiener 26.599 Newton, Massachusetts

Okay, those are the top 50 multifamily developers as of 2023. And you may need more information about them. But we’ll provide the information only up to the 10th ranking position. Here they are:

1. Mid-America Apartments (MAA)

  • CEO: H. Eric Bolton, Jr.
  • Website:
  • Units owned in 2023: 99,676

Based in Germantown, Tennessee, United States, MAA ranks as the number one multi-family developer in 2023. They also have ownership interests in 300 communities, 101,986 homes, and 16 states. Turning properties into communities and apartments into homes is their true goal.

They serve as a real estate investment trust (REIT), which develops, redevelops, and also manages apartment communities, particularly throughout the Southwest, Southeast, and Mid-Atlantic regions of the United States.

2. Greystar Real Estate Partners, LLC

After ranking as the top multi-family developer across the United States as of 2022, Greystar now takes the second position in 2023. Based in Charleston, South Carolina, United States, they strive to provide an unforgettable experience in managing all product types, with a global development strategy and track record of roughly $32 billion.

With more than 803,000 units and student beds under their management globally, Greystar has the ability to leverage relationships into investment opportunities and a combination of local market expertise.

3. Morgan Properties

Headquartered in King of Prussia, Pennsylvania, United States, Morgan Properties consistently provides superior housing and services to people who are looking for pleasure residences. After holding the top workplace for purpose and values, Morgan Properties now ranks as the third-ranked multi-family developer in 2023.

Morgan Properties is not just a real estate developer; they also establish trust with several parties and communities in an effort to move forward together. There is no doubt that they invest in each other and their local neighborhoods through a program called “Caring. Sharing. Giving.”

4. AvalonBay Communities, Inc.

Providing a modern apartment for living and giving all the pleasure of home, it’s no wonder that Avalon takes the fourth position among the top 50 multi-family developers. Based in Arlington, Virginia, United States, Avalon will be great for you to work with.

With equal parts experience and vision, they have established a long-term track record of developing and managing distinctive residences in some of the best U.S. markets. Basically, their goal is to create a better way to live that is always focused on giving value to their investors, residents, and employees.

5. Equity Residential

Based in Chicago, Illinois, in the United States, Equity Residential offers a variety of incredible apartments spread across the most sought-after cities, such as Washington, DC, New York, Los Angeles, San Francisco, etc. So, you can get close to them.

Located in prime markets such as Boston, Manhattan, Washington, DC, etc., you can really start to improve your financial future with them through an investment. However, they don’t only build value for their employees and residents, but also for their shareholders.

6. Cortland

  • CEO: Steven DeFrancis and Jason Kern
  • Website:
  • Units owned in 2023: 77,407

Headquartered in Atlanta, Georgia, United States, Cortland offers a normal apartment living experience with thoughtful interior design. You can also get their best services and amenities—your fitness journey is one of them.

With more than 260 real estate assets they manage, Cortland is a safe investment object with promising benefits vertically. Available in metropolitan cities, it will be easy for you to find them and start investing with them.

7. Nuveen Real Estate

Nuveen Real Estate can be found in New York, United States. They actually offer solutions for a range of investors across the world. As one of the largest investment managers in the world, Nuveen currently stands as the seventh-best multi-family developer as of 2023.

Holding the certificate of TIAA, Nuveen has supported the financial futures of millions of investors who are growing their businesses, infrastructure, real estate, farm land, and forests. They’re also strongly building long-term relationships with clients across the United States.

8. Monarch Investment & Management Group

With more than 300 communities and 2,200 team members, Monarch committed to providing enjoyable residences with pleasure amenities. Based in Franktown, Colorado, United States, they actively invite trusted investors to get a chance to grow together.

They are not only a broker and a property management company; they instead do research, acquire, operate, and maintain all of their properties spread across the most sought-after cities such as Kansas, Saint Louis, Minneapolis, Lexington, and many more.

9. The Related Companies, LP

Based in New York, the Related Company eventually takes the ninth position as one of the top 50 multifamily developers across the United States. They keep delivering memorable experiences and boosting happiness to everyone through their residences.

With over 2,500 employees across the offices in the United States, Related is committed to building communities and enriching people’s lives. To make residents’ lives enjoyable, they also put the artwork into their daily lives. It aims to boost and empower individuals and their communities.

10. Edward Rose Building Enterprise

The Miami-based multi-family developer, Edward Rose, keeps a privately held real estate development company by providing brand new luxury apartment communities across the United States. For more than 100 years, they have developed thousands of multifamily residences throughout surrounding states.

With more than 2,000 employees, they always offer fun, sophisticated, and friendly neighborhoods. On average, their units have easy access to shops, restaurants, and other public places.

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