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National Multi Housing Council 2010 Annual Report


National Multi Housing Council 2010 Annual Report


contents From the Leadership: Why Do You Belong? ........................3 Renter Nation ....................................................................4 Promoting: The Desirability of Apartment Living ..............................9 A More Balanced Housing Policy..................................12 Your Access to Capital ................................................15 Protecting: Your Interests in Washington ..........................19 Providing: Business Intelligence ......................................27 Networking: Meetings and Conferences ..........................28 Financials: Statements of Financial Positions....................30 PROPERTY PHOTOS ON THE COVER

People:

First Row, far left: Mariposa Lofts, Behringer Harvard, Atlanta, GA; far right: The Monterey, Criterion Development Partners, Dallas, TX

Our Leadership ..........................................................31

Second Row, center: Westover Hills, Verde Apartment Communities, San Antonio, TX

2010 New Members ..................................................40

Third Row left: AMLI Quadrangle, AMLI Residential, Dallas, TX; right: The Monterey, Criterion Development Partners, Dallas, TX

Our Sponsors ..............................................................41

All cover property photos Š Steve Hinds Photography

Our Team ....................................................................44


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nmhcour profile

Based in Washington, DC, the National Multi Housing Council (NMHC) is a national association that advocates on behalf of the apartment industry and the more than 16 million American households who live in apartment homes. NMHC’s members are the principal officers of the larger and more prominent apartment firms and include owners, developers, managers, financiers and suppliers to the industry.

nmhcour mission

The National Multi Housing Council provides leadership for the apartment industry on legislative and regulatory matters, advances research and the exchange of strategic business information, and promotes the desirability of apartment living.


FROM THE LEADERSHIP: Why Do You Belong?

why areyou a member of nmhc? We know there are many reasons why apartment firms join the Council. One of the most important is the unparalleled access we provide you to the industry’s leaders. In short, we’re the organization where the people you’d most like to know are. But we’re much more than that. We’re also the industry’s leading advocate, and you join to support that. You may not want to know the details of all 30-40 issues we’re actively working on at any given time, but you want to be sure that we are able to serve as the industry’s insurance policy and early warning system. As policymakers begin the most significant reform of the housing finance system in 30 years, this part of our mission has never been more important. We are also the preeminent source of apartment-related information, so some of you join for access to our “content.” Through our newsletters, best practice resources, white papers, conferences and our web site, we act as a thought leader for the industry and make sure you have the tools you need to grow your businesses.

Networking. Risk Mitigation. Opportunity Identification. There are many reasons to be a part of NMHC, and we take them all seriously. We’ve assembled one of the most respected staffs in Washington, DC to pursue all of these on your behalf. At the end of the day, though, to paraphrase political consultant James Carville, we know “It’s the Networking, Stupid.” As a result of a strategic planning exercise undertaken by the Council’s leadership in 2010, we are dedicating even more attention to our role in bringing you together. We are creating new high-level networking events and more opportunities for you to be actively engaged with the Council through our committees. They say that as a trade association you are only as strong as your members. At NMHC, we are fortunate to have the who’s who of the industry on our membership roster, and we will be working hard in 2011 to leverage that asset to make the Council even better. It’s an exciting time to be in the rental housing industry. Thanks to the foreclosure crisis, consumers and policymakers have a new appreciation for renting with headlines proclaiming that it’s a renter nation. Demographics are on our side, and supply and demand fundamentals point to strong rental growth in the coming years, possibly some of the strongest many of us have seen in our careers. Already, our sector’s recovery is exceeding expectations. We look forward to serving you in 2011 and welcome your thoughts on our progress throughout the year.

Peter Donovan

Doug Bibby

2010-2011 NMHC Chairman

NMHC President

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Our attitudes, particularly toward homeownership and housing, are changing, and they are changing quickly. Richard Florida, Best-Selling Author and Urban Studies Professor - “Economy Has Shifted Americans’ Attitudes About Homeownership and Money" - The Washington Post (April 10, 2010)

The rate at which apartments were leased (or absorbed) was double what was projected: “off the charts” is how one industry veteran described it. And each quarter brought more improvement. The jobs weren’t back, but the apartment residents certainly were. How was this possible? The answer: this recovery was being driven by more than just pent-up demand, although that certainly helped. The wind at our back was – and is – shifting consumer attitudes about renting. The housing crisis taught Americans that housing is shelter, not an investment. That awareness freed people up to choose the housing that best suits their lifestyle. For millions, that was an apartment. Before the housing crisis, renting was what you did until you could buy a house. But with house prices still falling and jobs not entirely secure, renting began to lose its stigma and look like a smart play.

The Monterey, Criterion Development Partners, Dallas, TX – © Steve Hinds Photography

that

the apartment sector was the first to show signs of recovery was no real surprise. It has traditionally emerged from recessions before its commercial property counterparts. But the strength and speed of the recovery, in a fragile economy still struggling with high unemployment, caught some off guard in 2010.


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Life, Liberty and the Pursuit of Mobility Renting has many advantages. Freedom from household chores and maintenance and access to walkable neighborhoods surrounded by restaurants, theaters and shops are just a couple. After the Great Recession, renting’s new competitive advantage is mobility. In today’s economy, where millions are trapped in houses they can’t sell because they are worth less than their mortgages, renting means mobility to pursue career opportunities. As one financial analyst said at an NMHC meeting: “Older people think renting is throwing away money. I think owning is throwing away freedom.” Another noted that “Americans aren’t working, because they can’t move.” Ahead of the curve, years ago NMHC research warned that rising homeownership rates were creating an immobile workforce. Our warnings fell on deaf ears. But in 2010, economists agreed that homeownership was hindering our economic recovery. One study found that cities and regions with the lowest levels of ownership had healthier economies, higher incomes, more professional workforces and higher levels of happiness. Buying might have made sense in a manufacturing-based economy, but today’s idea-driven economy prizes mobility. It’s why today’s younger generation is likely to rent longer than their predecessors. And there are a lot of them. By 2015, there will be 67 million people aged 20-34 – the prime years for renting.

The New Normal: More Renters Even before the global financial crisis, demographic changes favored the density, flexibility and affordability of apartment living. In addition to the echo boomers, who are beginning to enter the housing market, downsizing baby boomers – there are 78 million of them – are increasingly trading lawn work and long commutes for apartments in downtown neighborhoods. Census data shows that 59% of seniors aged 65-80 were renters after they moved compared to 20% who were renters before their move. More important is a dramatic change in what constitutes the “typical” American household. For generations, married couples with children dominated our housing markets, causing the suburbs to grow explosively. But now they are less than 22% of households. And that number is falling. By 2030, nearly three-quarters of our households will be childless. That’s a profound change that has serious implications for the kind of housing we need and want. Between 2008 and 2015, nearly two-thirds of new households formed will be renters. That’s 6 million new renter households. According to Professor Arthur “Chris” Nelson, Director of Metropolitan Research at the University of Utah, to meet emerging housing demands, half of all new homes built between now and 2030 will have to be rentals. Is the U.S. becoming a renter nation? It’s too early to tell if this is a short-term response to a struggling economy and a battered housing market. But if it persists, it’s a landmark shift. And there are reasons to believe that the new normal favors more longterm renters and more renters by choice. The good news, according to the latest research, is that such a shift is good for the economy. And good for our happiness.

Westover Hills, Verde Apartment Communities, San Antonio, TX – Photo © Steve Hinds Photography

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Half of all new homes built between 2005 and 2030 will have to be rental units. University of Utah Professor, Arthur C. Nelson

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promotithengdesirability of apartment living ‘Rent’ is no longer a ‘four-letter word.’ ...It turns out, as we look in recent years, renting turned out to be a pretty smart thing to do. Nicolas Retsinas - Director of Harvard’s Joint Center for Housing Studies,“Four Letters Ease Housing Fears For Some: Rent” - National Public Radio (July 23, 2010)

what renters are saying

what headlines are saying

When I write my monthly rent check, I say to myself, “This is worth every penny.”

Rich Americans Ditch Home Ownership for Renting CNBC

Former homeowner and current renter Mark Cleaver - “One Couple’s New American Dream: Rent, Don’t Buy” - National Public Radio (August 21, 2010)

Survey Finds the American Dream Is Up for Rent

I don’t fault myself for wanting to have that American dream. ...But I don’t think that homeownership is essential for that anymore. Nathan Quevedo - "Men Who Jump the Picket Fence” - The New York Times (January 7, 2010)

Chicago Tribune

One Couple’s New American Dream: Rent, Don’t Buy National Public Radio Online


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On the House: Renting May Be the Way to Go

Owning a place adds the burden of immobility. Renting just fits my lifestyle better.

Philadelphia Inquirer Thiyag Chinnappan, a 35-year-old marketing analyst - “Renting – Not Buying – the Dream” Chicago Now (September 10, 2010)

The American Dream of Homeownership Has Become a Nightmare U.S. News & World Report

The New Renters Don’t Have To

I could buy, but it’s not that tempting. Ownership brings added responsibilities and expenses. Somebody has to own, but it doesn’t have to be me. Minneapolis renter Crystal Donelan - “The New Renters Don’t Have To” The Minneapolis Star Tribune (November 16, 2010)

Minneapolis Star Tribune

...being ‘mobile and adaptable’ to the job market is far more important right now. Sean Hughes of Charlotte, NC - “Allure of Home Ownership Dims, Fannie Mae Survey Shows” The Wall Street Journal (September 16, 2010)

I didn’t want to be an owner anymore. Renting gives me a lot of peace of mind. New York renter Patrick Lee - “Rich Americans Ditch Home Ownership for Renting” - CNBC.com

I think we get more for our money renting. Chicago resident Stina Fish - “Renting – Not Buying – the Dream” Chicago Now (September 10, 2010)


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Every 1% decline in the homeownership rate translates into 1 million new renters. It’s already fallen 2.5 percent.

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promotinagmore balanced housing policy

Between 2008 and 2015, nearly two-thirds of new households formed will be renters. That’s 6 million new renter households, compared to just 3 million new owner households. University of Utah Professor, Arthur C. Nelson


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[Housing] policy should be tenure neutral. Renting should be a respectable alternative. Mark Calabria, Cato Institute

what

if you threw a party and no one came? That’s how it felt 10 years ago when we launched our “Balanced Housing Policy” initiative. “How can you compete against homeownership?” “No one will listen.” “Renters don’t vote.” We heard the objections. But we weren’t dissuaded. We believed there could be no better service to our industry than convincing the nation’s thought leaders that instead of using our limited housing resources to further inflate the homeownership rate, our nation would be better served by a housing policy that seeks to provide all Americans with good, quality housing, regardless of whether they choose to rent or to buy. For the first few years, we were the lone voice in the wilderness. Then, as the housing bubble began to inflate, a few courageous organizations joined us in saying the unthinkable – that there is such a thing as too much homeownership. But we were still just a tiny, but vocal, minority. In 2010, that changed. Our small party became so much bigger. We knew this year was different when Obama Administration officials started using our balanced housing policy tagline in speeches. Then House Financial Services Committee Chairman Barney Frank (D-MA) publicly proclaimed himself proud to be a renter. And the Federal Reserve convened a New Housing Policy forum and asked us to be a keynote speaker. There were countless headlines questioning our national homeownership obsession throughout the year, but we knew our idea had gone mainstream when the cover of TIME magazine made “The Case Against Homeownership.” Signs kept mounting. The federal deficit-reduction task force took on one of the nation’s most sacred cows: the mortgage interest deduction. We realize that we are a long way off from actually having a more balanced housing policy. But it’s nice to see that sometimes tilting at windmills actually makes a difference.

thought leaders weigh in I think we’ve not paid close enough attention to rental housing and the advantages of that... government should think more clearly about how it can help with respect to rental housing. Mark Zandi Chief Economist, Moody’s Analytics

It is worth asking whether federal policy is devoting sufficient emphasis to the expansion of quality, affordable rental housing. FDIC Chair Sheila Bair

The system must better balance rental housing and homeownership. Sarah Rosen Wartell Center for American Progress


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the media questions sacred cows If there ever were a time to start weaning America off the idea that homeownership cures all our ills, now – after the worst housing crash in 75 years – would be it. TIME Magazine - “The Case Against Homeownership” (August 26, 2010)

The U.S. has for decades overemphasized the virtues of home ownership. The Wall Street Journal - “Rethinking Part of the American Dream” (June 17, 2010 )

The relentless promotion of homeownership as the embodiment of the American dream has outlived its usefulness. The Washington Post - “How a Homeownership Fetish Hurt the American Dream” (August 23, 2010)

By idealizing the act of buying a home, we have ignored the downsides. TIME Magazine - “The Case Against Homeownership” (August 26, 2010)

Lake Calhoun City Apartments, Village Green, Minneapolis, MN

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promotingyour access to capital

By 2030, nearly three-quarters of our households will be childless. That’s a profound change that has serious implications for the kind of housing we need and want.


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As we work on reforming the housing finance system going forward, we should certainly look more at the effectiveness of the multifamily programs at Fannie Mae and Freddie Mac to determine best practices. Former U.S. Rep. Paul Kanjorski (D-PA) - Former Chairman, House Capital Markets Subcommittee

access

to reliable and affordable capital is issue number one for the industry, and never in the Council’s history was our capital markets initiative more important than in 2010. As lawmakers began to consider how to reform our nation’s housing finance system to avoid future catastrophes, it was clear we had a lot of work to do. With a few notable – but important – exceptions, fundamental misunderstandings about the Government Sponsored Enterprises’ multifamily programs were the rule: •

You mean they actually make money from their multifamily programs?

Multifamily default rates are less than 1 percent – a 10th of the default rates plaguing single-family?

Multifamily didn’t overbuild and over-leverage like the single-family sector?

These were the things we heard as we blitzed Congress as part of a massive education effort. We held countless one-on-one meetings with members of Congress and the Administration. We became a trusted source of multifamily information and were invited to testify three times before Congress and once before the financial bailout oversight panel. Treasury Department officials asked us to prepare extensive background materials for them. The White House invited us to a high-level summit in August. In all of our work, we made sure policymakers knew that the story of our housing finance system is indeed a tale of two markets. The GSEs’ multifamily programs did


RENTER NATION National Multi Housing Council 2010 Annual Report

not contribute to the housing meltdown, did not put taxpayers at risk and could even serve as a model for a reconfigured housing finance system. Their multifamily programs have attracted enormous amounts of private capital to help finance millions of units of workforce housing. They sustained liquidity in all economic climates; standardized multifamily lending; and did so with low default rates. Our message resonated, and others have started to repeat it. But there is still much to do. To begin with, there are more than 100 new members entering Congress in 2011. Long-term reform of the GSEs probably won’t occur until after the 2012 elections. But the groundwork for reform will be laid between now and then. So, NMHC will be there. We will continue to advocate for a return of private capital to the multifamily mortgage market. But history makes it clear that private capital simply cannot meet 100 percent of our industry’s capital needs. A federally backed secondary market is absolutely critical to the sector’s health and our ability to continue to meet the nation’s rapidly growing demand for rental housing. And any transition to a new system must be deliberately designed to avoid disrupting the current flow of capital to the apartment industry. Fortunately, we have a good story to tell and a well-earned reputation as the go-to source for credible information on our industry among the people who will be making the decisions.

The benefits of a reduced subsidy for homeownership are clear. Hank Paulson Former U.S. Treasury Secretary

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4055 Lofts, Behringer Harvard, Marina del Rey, CA – Photo © Steve Hinds Photography


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protectingyour interests in washington nmhc

is widely considered the leading national advocate for the conventional apartment industry. For more than 30 years, NMHC has leveraged our extensive contacts in Washington, DC with our fact-based approach to lobbying to actively shape the legislation and regulations that affect the apartment industry. From one-on-one meetings with elected officials to public testimony before Congressional committees to key regulatory filings, NMHC is consistently heard on the entire spectrum of housing-related issues. We worked on more than 50 issues that could have adversely impacted your business in 2010, and we spent much of the year telling the story of the apartment sector as lawmakers dedicated more attention to housing due to the lingering housing crisis. We explained that the apartment industry didn’t overbuild in the boom years, and that contrary to the glut of single-family houses, growing apartment demand is outstripping new apartment supply. These stark differences helped us create a new awareness of – and appreciation for – rental housing. And it underscored our calls for policies that support a thriving apartment sector. Some of key victories for the year are listed below. But keep in mind we aren’t looking back; we’re looking forward to another challenging year. We begin 2011 with a divided Congress and more power for Republicans than in recent years. Lawmakers are expected to take up a number of issues that could adversely impact us. Fortunately, our team of expert lobbyists is up to the task. No one is a stronger advocate for multifamily than NMHC.

Turned Back a Potentially Devastating Tax Increase on Carried Interest All year long, we vigorously fought against changing the method of taxing carried interest to protect partnerships from extremely onerous tax increases. We formed a special task force and raised money dedicated to this effort. Although the provision

NMHC Secretary Bob DeWitt testified before the House Financial Services Committee in March at the first Congressional hearing on the issue of housing finance reform.

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NMHC’s Immediate Past Chairman Ric Campo testified before the Senate in September on the issue of covered bonds as a supplemental liquidity source for the apartment sector.

came up repeatedly during the year, when the final tax bill was enacted in December, carried interest was left unchanged. While the Republican takeover of the House of Representatives makes it less likely that a carried interest tax will pass, we will remain vigilant.

Secured $5 Billion Expansion of FHA Commitment Authority When the FHA multifamily mortgage insurance program nearly ran out of commitment authority in July, within 10 days we got a $5 billion expansion of the program enacted into law.

Stopped Federal Efforts to “Take” Struggling Multifamily Properties We turned back federal efforts to prematurely force vaguely defined “at risk” apartment properties into bankruptcy without the consent of the owner in order to convert them to affordable housing. We also blocked legislation that would have required assisted property owners to give the U.S. Department of Housing and Urban Development (HUD) the “first right of refusal” to purchase a property.

Halted Action on “Card Check” NMHC helped stop the Employee Free Choice Act from moving forward this year despite the fact that it was a priority for President Obama, union activists and many Democrats


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in Congress. The bill would limit a worker’s right to a private vote on whether or not to join a union and would impose mandatory mediation and arbitration in first contract negotiations on companies unable to reach an agreement within a very short time.

Improved the Financial Regulatory Reform Law NMHC secured revisions in the comprehensive financial regulatory reform bill (Dodd-Frank) enacted in 2010 to mitigate its impact on the flow of credit to our sector. Because of our efforts, the final bill created special treatment for commercial mortgage-backed securities from new “skin-in-the-game” requirements. Apartment firms that use derivatives to hedge interest rate risks were also exempted from new margin and registration requirements.

Advocated for Technically Feasible, Economically Viable Energy Standards Although Congress was unable to forge an agreement on comprehensive energy legislation, we mounted an all-out effort to educate lawmakers about the unintended consequences of unrealistic energy performance standards and building code mandates. We explained that more than half the energy used in apartments falls outside the scope of building codes. We told lawmakers that a codes-based approach to energy conservation puts extreme pressure on apartment owners to invest in very expensive upgrades – and these costs must be passed on to residents – while leaving the vast majority of building energy use unaffected, and we succeeded in getting the Senate to dial back the unachievable mandates that passed the House in 2009.

Moderated FHA Underwriting Changes Our comments on FHA proposals to implement the most extensive underwriting changes in 30 years to the FHA multifamily mortgage insurance program resulted in meaningful changes that will benefit apartment borrowers for years to come.

Preserved Stepped-Up Basis in Estate Tax Reform As Democrats and Republicans sparred over the appropriate tax rates for estates and what size of estates should be exempt from the tax, we pressed for an even more important provision: that “stepped-up” basis rules be preserved. As a result of these efforts, the tax basis of inherited commercial real estate is reset to reflect the fair market value of the property at the time of the inheritance (rather than making it the same for the heirs as it was for the donor).

Blocked Higher Capital Gains Tax Rates We worked with a broad industry coalition to block a scheduled increase in the capital gains tax rate from 15 percent to 20 percent and plans to tax qualified

Eileen Lee, NMHC’s Vice President of Energy and Environment, with Representative Joseph Crowley (D-NY) on Capitol Hill.

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dividends as ordinary income, up to the top rate of 39.6 percent. Instead, under legislation enacted in the final days of the year, the current 15 percent tax rate will be applied to both for two years.

Killed an $11.2 Billion Proposal to Tax Partnership Distributions Working with a coalition, we blocked a proposal to tax a greater portion of partnership distributions as ordinary income even though they are often used for reinvestment purposes. Such a change would have subjected these partnership distributions to Social Security and Medicare payroll taxes.

Advanced Energy Incentives

Post Properties CEO David Stockert testified before the Congressional Oversight Panel (COP) in January on behalf of NMHC. The COP, chaired by Harvard law professor Elizabeth Warren, oversees the $700 billion Troubled Asset Relief Program (TARP).

We continued our work trying to create meaningful incentives for property owners to make investing in energy savings more attractive and financially viable. Working with Senate staff, we developed legislation that would increase the Commercial Building Tax Credit to $3 per square foot from the current level of $1.80. We also secured funding for a demonstration project of multifamily green buildings in House-passed legislation. We will press for final enactment of both measures in 2011.

Educated Lawmakers on Limitations of Covered Bonds as a Liquidity Source for Apartments In response to suggestions that covered bonds could replace Fannie Mae and Freddie Mac as a source of apartment financing, we issued a white paper analyzing the limitations of covered bonds. We also testified before the Senate explaining that while covered bonds might provide some additional liquidity, they don’t have the capacity, flexibility and pricing superiority necessary to become a major source of credit.

Affirmed the Legality of Exclusive Marketing and Bulk Billing Agreements with Video Providers Through significant outreach to the Federal Communications Commission (FCC), the Council played a key role in an advocacy effort that led to the federal agency’s conclusion that exclusive marketing contracts and bulk billing agreements between apartment owners and television service providers do not hinder competition. This resulted in a ruling by the FCC affirming their legality.

Halted an Onerous EPA Stormwater Data Collection Effort We successfully intervened to force the Environmental Protection Agency (EPA) to halt and then revise a plan to conduct an onerous, mandatory survey of property owners’ stormwater management practices. We also produced a guidance document to assist members in completing the revised, but still complex questionnaire.


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We fundamentally recognize that a onesize-fits-all solution will not work because of differences in the single-family and multifamily markets. The Administration is fully committed to making sure multifamily is part of the solution. Shaun Donovan - U.S. Housing and Urban Development Secretary

Won Funding for Lead-Risk Assessments Working with members of Congress, we pressed HUD to honor its commitments to reimburse owners of qualified federally assisted property for lead-risk assessment and inspections as promised in the Big Buy program.

Removed Unworkable Provisions from Green Building Guidelines As a member of the development committee, we successfully removed the most onerous provisions from a new ASHRAE Standard 189.1, released in January 2010, that provides code-adoptable green building guidelines for new and substantially renovated commercial properties, including apartment buildings over three stories. Among other things, our work eliminated arbitrary caps on apartment unit size and requirements for on-site renewable energy systems.

Called for Improved Environmental Hazard Guidance We obtained compliance assistance and interpretive guidance from EPA for member firms to help them comply with lead-based paint regulations. We also asked Congress to direct HUD to develop best practices to guide the efforts of property owners to deal with bed bugs.

Reduced Credit Card Merchant Fees We secured legislation that makes it easier for apartment firms to accept credit card payments for rent and other fees by limiting the transaction fees that credit card networks can charge end-users, such as apartment firms, and by allowing apartment firms to charge different fees (or offer incentives) for renters who want to pay with debit or other automated check transactions instead of using credit cards.

HUD Secretary Shaun Donovan at NMHC’s Board of Directors and Advisory Committee Meeting in September.

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Commissioned Valuable Accessibility Standards Report To aid apartment firms facing a growing number of fair housing accessibility lawsuits, NMHC commissioned original research to investigate whether the current standards and existing safe harbors are the only means of achieving accessibility. The final report challenges the current standards as the only means of achieving compliance in these areas and recommends the use of tolerances in lieu of strict measurement protocols as defined in various safe harbors.

Obtained an Extension of the National Flood Insurance Program (NFIP) We secured a one-year extension of the NFIP, providing good news for property owners who have struggled with multiple short-term extensions over the last two years. Comprehensive, long-term reform remained elusive in 2010, so we will continue to press for a five-year reauthorization, higher coverage limits, the retention of subsidized rates for certain properties and the addition of business interruption insurance.

Revised Proposed Fair Housing Legislation In January, NMHC Vice President Jeanne McGlynn Delgado testified before a House subcommittee on a proposed new fair housing testing program.

Through Congressional testimony and other advocacy efforts, we amended legislation that would have created a new national testing program to assess apartment owners’ compliance with fair housing laws. The bill, which was not acted on in the last Congress, sets a precedent for future efforts that NMHC will be tracking.

Selected for Important Building Code Committees In recognition of our longstanding work on building codes, NMHC has been named to several important committees that will help draft future codes and standards, including the International Code Council’s (ICC) Code Technology Committee (CTC), the ICC’s Code Review Ad Hoc Committee and a special committee on sprinklers created by the National Fire Protection Association. Already, our work on the CTC has resulted in defeat of several proposals that would have adversely affected apartment construction.

Defeated Onerous Building Code Provisions NMHC convinced an important ICC committee to vote against several proposals that would have adversely affected apartment construction, including provisions related to allowable building height and area, fire separation, emergency evacuation, carbon monoxide and more.


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National Multi Housing Council Political Action Committee (NMHC PAC) A Sound Investment in Our Industry

Left Photo: NMHC President Doug Bibby presents the Advocate’s Award to Linwood Thompson, recognizing Marcus & Millichap for raising more than $30,000 in PAC funds in 2010. Right Photo: Equity Residential’s David Neithercut (right) accepts the 2010 Challenger’s Award; the firm raised nearly $32,000 for the PAC.

nmhc

prides itself on being a fact-based lobbying group and has developed a strong reputation on Capitol Hill as the preeminent source for apartment information. But we also recognize the importance of having a strong PAC to back those efforts. Despite the slow recovery in 2010 and thanks to the great leadership of our NMHC Political Action Committee Chairman Linwood Thompson and Vice Chairman David Neithercut, we raised a record $547,431 for our NMHC PAC and Smarter Living Fund. Those funds were used to support 86 members of Congress of both parties and 25 leadership PACs/party committees. The success of our PAC depends entirely on voluntary personal contributions from employees of NMHC member firms. In 2010, we recognized two firms for their employees’ exemplary support of the PAC. Our gold medal Advocate’s Award went to Marcus & Millichap, which raised $33,030 for the PAC. Equity Residential was second and received our Challenger’s Award after raising $31,295 in PAC funds from its employees. The employees of 23 firms contributed $10,000 or more in 2010. In addition to Marcus & Millichap and Equity Residential, high contributors included (in order of contributions): UDR, Inc., BRE Properties, Inc., NorthMarq Capital, Inc., AvalonBay Communities, Inc., CB Richard Ellis, Inc., Waterton Associates, L.L.C., Camden Property Trust, Archstone, Pinnacle, Apartment Realty Advisors, Gables Residential, SARES•REGIS Group, Wood Partners, LLC, Legacy Partners, HFF, Greystar Real Estate Partners, LLC, Holland Partner Group, Home Properties, Inc., Moran & Company, Riverstone Residential Group and Trammell Crow Residential.

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providingbusiness intelligence as the

apartment industry’s leading advocate, we not only work to advance the industry’s legislative agenda, but also to provide you with the best practices, research and tools you need for your business to prosper. These are just a few of the resources and education events we produced in 2010.

Benchmarking Reports •

• •

2010 NMHC 50: Annual Ranking of the Largest Apartment Owners and Largest Apartment Managers Apartment Cost of Risk Insurance Benchmarking Survey 2010 NMHC National Apartment Survey of Compensation and Benefits Practices

Industry Research • • •

Off-Campus Student Housing: Income and Expense Benchmarking Survey Shifting Consumer Attitudes Toward Renting Is a Surge in Apartment Demand in the Offing?

Education • • • • • • •

NMHC Apartment Strategies Conference NMHC Apartment Operations and Technology Conference & Exposition NMHC Apartment Strategies Update and Finance Conference NMHC Student Housing Conference & Exposition NMHC Human Resources Forum NMHC Research Forum NMHC Executive Leadership Conference

Networking Opportunities • • • •

NMHC Annual Meeting NMHC Spring Board of Directors Meeting NMHC Fall Board of Directors and Advisory Committee Meeting NMHC on Social Media

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networkingmeetings and conferences although there is a plethora of information available online – including on NMHC’s web site – about the state of apartment industry or trends in the sector, nothing replaces the value of meeting your peers face-to-face and hearing directly from the leading experts. Join us in 2011 as we convene what have been described as the industry’s most stimulating and thought-provoking gatherings.

April 27-28 2011 NMHC Human Resources Forum 2011 NMHC Research Forum Dallas, TX (Members Only)

October 3-4 2011 NMHC Student Housing Conference & Exposition Phoenix, AZ (Open to Non-Members)

May 24-25 2011 NMHC Apartment Strategies Update and Finance Conference Palm Beach, FL (Open to Non-Members)

November 7-9 2011 NMHC Apartment Operations and Technology Conference & Exposition Dallas, TX (Open to Non-Members)

May 25-26 2011 NMHC Spring Board of Directors Meeting Palm Beach, FL (Members Only)

January 17, 2012 2012 NMHC Apartment Strategies Conference Boca Raton, FL (Open to Non-Members)

September 14-15 2011 NMHC Fall Board of Directors and Advisory Committee Meeting Washington, DC (Members Only)

January 17-19, 2012 2012 NMHC Annual Meeting Boca Raton, FL (Members Only)


National Multi Housing Council 2010 Annual Report

Financials: Statements of Financial Positions....................30 People: Our Leadership 2011 Officers ..............................................................31 2011 Committee Leaders............................................31 2011 Executive Committee ........................................33 2011 Board of Directors ..............................................36 People: 2010 New Members ............................................40 People: Our Sponsors ......................................................41 People: Our Team ............................................................44


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RENTER NATION National Multi Housing Council 2010 Annual Report

financialsstatements of financial positions Jan. 1 - June 30, 2010

Jan. 1 - Dec. 31, 2009

(Audited*)

(Audited)

ASSETS: Cash and Investments: Cash Investments (Short Term) Total Cash and Investments

$

Fixed Assets: Furniture and Equipment, At Cost Less: Accumulated Depreciation Total Fixed Assets, Net Other Assets: Security Deposit Total Other Assets

312,637 6,657,254 6,969,891

$

902,952 6,577,065 7,480,017

641,817 (579,339) 62,478

636,075 (564,688) 71,387

14,676 14,676

14,676 14,676

Total Assets

$

7,047,045

$

7,566,080

LIABILITIES AND UNRESTRICTED NET ASSETS: Liabilities: Lease Payable - Copiers Refundable Advances - CITF Total Liabilities

$

43,181 108,431 151,612

$

49,043 61,977 111,020

Unrestricted Net Assets: Unrestricted Net Assets - Beginning Current Year Increase/(Decrease) Total Unrestricted Net Assets

6,816,223 638,837 7,455,060

7,455,060 (559,627) 6,895,433 $

Total Liabilities and Unrestricted Net Assets

7,047,045

$

7,566,080

NMHC members and employees are encouraged to report suspected violations of the law, violations of NMHC policies and procedures, dishonest or unethical behavior, crimes or improper business activities to NMHC’s Senior Vice President of Finance and Operations or through Report Line at 877/888-0002 or www.tnwinc.com/webreport. From time to time, the Board may change the process by which members or employees may communicate such reports. Employees will be notified of changes by internal communications. Members should check the NMHC web site for any changes to the reporting process. The Audit Committee shall ensure that employees may report suspected violations anonymously in accordance with local, state and federal Whistleblower Statutes and Employee Protection Ordinances. Employees will not be subject to any penalties or retribution for reporting suspected violations in good faith. * Note: In 2010, NMHC changed its fiscal year from January 1 through December 31 to July 1 through June 30. As a result, the 2010 financials represent just a six-month period (January 1 to June 30). The 2009 financials represent a 12-month period.

NMHC Audit Committee Daryl J. Carter (Chair)

Timothy J. Naughton

Richard L. Kadish

Avanath Capital Partners Irvine, CA

AvalonBay Communities, Inc. Arlington, VA

CAPREIT, Inc. Rockville, MD


RENTER NATION National Multi Housing Council 2010 Annual Report

peopleour leadership 2011 Officers

Chairman Peter F. Donovan

Vice Chairman Thomas S. Bozzuto

Treasurer Daryl J. Carter

Secretary Robert E. DeWitt

CB Richard Ellis, Inc. Boston, MA

The Bozzuto Group Greenbelt, MD

Avanath Capital Partners Irvine, CA

GID Investment Advisers LLC Boston, MA

President Douglas M. Bibby

Immediate Past Chairman Ric Campo

National Multi Housing Council Washington, DC

Camden Property Trust Houston, TX

2011 Governance Committee Leaders

Audit Daryl J. Carter (Chair)

Investment Thomas J. Sargeant (Chair)

Membership Laura Beuerlein (Chair)

Operating Peter F. Donovan (Chair)

Political Action David J. Neithercut (Chair)

Strategic Planning Thomas S. Bozzuto (Chair)

Avanath Capital Partners Irvine, CA

AvalonBay Communities, Inc. Arlington, VA

Heritage Title Company of Austin, Inc. Austin, TX

CB Richard Ellis, Inc. Boston, MA

Equity Residential Chicago, IL

The Bozzuto Group Greenbelt, MD

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RENTER NATION National Multi Housing Council 2010 Annual Report

2011 Policy/Information Exchange Committee Leaders

Diversity Daryl J. Carter (Co-Chair)

Diversity Mary Ann King (Co-Chair)

Finance David Schwartz (Chair)

Finance Keith Harris (Vice Chair)

Property Management Julie A. Smith (Chair)

Property Management Brad Forrester (Vice Chair)

Avanath Capital Partners Irvine, CA

Moran & Company Irvine, CA

Waterton Associates, L.L.C. Chicago, IL

The Laramar Group, L.L.C. Chicago, IL

Bozzuto Management Company Greenbelt, MD

The ConAm Group of Companies San Diego, CA

Research Jay Lybik (Chair)

Research Jeanette Rice (Vice Chair)

Student Housing Nathan S. Collier (Chair)

Student Housing David J. Adelman (Vice Chair)

Sustainability Alan W. George (Chair)

Tax Tim L. Myers (Chair)

Equity Residential Chicago, IL

Verde Realty Fort Worth, TX

The Collier Companies Gainesville, FL

Campus Apartments Philadelphia, PA

Equity Residential Chicago, IL

Allied Realty Services, Ltd. Houston, TX

2011 Joint Legislative Committee

Daryl J. Carter (Co-Chair)

Rick Graf (Co-Chair)

Sue Ansel

Terry Danner

Mark Fogelman

Michael Gorman

Gables Residential Dallas, TX

Riverstone Residential Dallas, TX

Fogelman Management Group Memphis, TN

Edward Rose & Sons Indianapolis, IN

Avanath Capital Partners Irvine, CA

Pinnacle Dallas, TX

Stacy Hunt

Steve Lamberti

Greystar Real Estate Partners, LLC Houston, TX

Milestone Management Dallas, TX

Lauren Brockman (Alternate)

Thomas Shuler (Alternate)

Allied Realty Services, Ltd. Denver, CO

Berkshire Property Advisors Roswell, GA


RENTER NATION National Multi Housing Council 2010 Annual Report

people Patti Fielding

Patti Shwayder

Marc E. deBaptiste

Gary T. Kachadurian

Charles E. Mueller, Jr.

R. Scot Sellers

AIMCO Denver, CO

AIMCO Denver, CO

Apartment Realty Advisors Boca Raton, FL

Apartment Realty Advisors Oak Brook, IL

Archstone Englewood, CO

Archstone Englewood, CO

Sean J. Breslin

Timothy J. Naughton

Daryl J. Carter

David J. Olney

Thomas Shuler

Thomas S. Bozzuto

AvalonBay Communities, Inc. Arlington, VA

AvalonBay Communities, Inc. Arlington, VA

Avanath Capital Partners Irvine, CA

Berkshire Property Advisors Boston, MA

Berkshire Property Advisors Roswell, GA

The Bozzuto Group Greenbelt, MD

Julie A. Smith

Stephen Dominiak

Constance B. Moore

Laurie A. Baker

Ric Campo

John R. Williams

Bozzuto Management Company Greenbelt, MD

BRE Properties, Inc. Irvine, CA

BRE Properties, Inc. San Francisco, CA

Camden Property Trust Houston, TX

Camden Property Trust Houston, TX

Carmel Partners, Inc. San Francisco, CA

Ron Zeff

Peter F. Donovan

Brian F. Stoffers

William T. Hyman

John Larson

Nathan S. Collier

Carmel Partners, Inc. San Francisco, CA

CB Richard Ellis, Inc. Boston, MA

CBRE Capital Markets Houston, TX

Centerline Capital Group New York, NY

Centerline Capital Group New York, NY

The Collier Companies Gainesville, FL

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RENTER NATION National Multi Housing Council 2010 Annual Report

J. Andrew Hogshead

Paul F. Earle

Edward T. Wright

Michael D. Berman

Donald P. King, III

Paul G. Kerr

The Collier Companies Gainesville, FL

Colonial Properties Trust Birmingham, AL

Colonial Properties Trust Birmingham, AL

CWCapital Needham, MA

CWCapital Needham, MA

Davlyn Investments San Diego, CA

Deborah Ratner-Salzberg

Jon D. Williams

Alan W. George

David J. Neithercut

Susanne Hiegel

Heidi McKibben

Davlyn Investments San Diego, CA

Equity Residential Chicago, IL

Equity Residential Chicago, IL

Fannie Mae Washington, DC

Fannie Mae Pasadena, CA

Forest City Enterprises, Inc. Washington, DC

Ronald A. Ratner

Michael May

Michael F. McRoberts

Susan Ansel

David Fitch

Robert E. DeWitt

Forest City Residential Group, Inc. Cleveland, OH

Freddie Mac McLean, VA

Freddie Mac McLean, VA

Gables Residential Dallas, TX

Gables Residential Atlanta, GA

GID Investment Advisers, LLC Boston, MA

Stacy G. Hunt

William C. Maddux

Laura A. Beuerlein

Gary S. Farmer

Mona Keeter Carlton

Matthew Lawton

Greystar Real Estate Partners, LLC Houston, TX

Greystar Real Estate Partners, LLC Charleston, SC

Heritage Title Company of Austin, Inc. Austin, TX

Heritage Title Company of Austin, Inc. Austin, TX

HFF Dallas, TX

HFF Chicago, IL

Clyde P. Holland

Robert D. Greer, Jr.

C. Stephen Cordes

Guy K. Johnson

James H. Callard

C. Preston Butcher

Holland Partner Group Vancouver, WA

ING Clarion Washington, DC

ING Clarion Partners New York, NY

Johnson Capital Irvine, CA

Klingbeil Capital Management/American Apartment Communities Annapolis, MD

Legacy Partners Foster City, CA


RENTER NATION National Multi Housing Council 2010 Annual Report

W. Dean Henry

J. Timothy Byrne

Jeff B. Franzen

John J. Kerin

Hessam Nadji

Martin T. Lanigan

Legacy Partners Residential, Inc. Foster City, CA

Lincoln Property Company Dallas, TX

Lincoln Property Company Herndon, VA

Marcus & Millichap Encino, CA

Marcus & Millichap Encino, CA

Mezz Cap Short Hills, NJ

Charles R. Brindell, Jr.

Mary Ann King

Thomas F. Moran

Rick Graf

Stan J. Harrelson

David P. Stockert

Mill Creek Residential Trust, LLC Dallas, TX

Moran & Company Irvine, CA

Moran & Company Chicago, IL

Pinnacle Dallas, TX

Pinnacle Seattle, WA

Post Properties, Inc. Atlanta, GA

Jamie Teabo

David Durning

Dale H. Taysom

Jerome Ehlinger

Brian E. McAuliffe

Michael P. Bissell

Post Properties, Inc. Atlanta, GA

Prudential Mortgage Capital Company Chicago, IL

Prudential Real Estate Investors Atlanta, GA

RREEF Chicago, IL

RREEF Chicago, IL

SARES•REGIS Group Irvine, CA

Geoffrey L. Stack

Kenneth J. Valach

David R. Schwartz

Gregory J. Lozinak

Vincent R. Toye

Alan Wiener

SARES•REGIS Group Irvine, CA

Trammell Crow Residential Houston, TX

Waterton Associates, L.L.C. Chicago, IL

Waterton Residential Chicago, IL

Wells Fargo Multifamily Capital New York, NY

Wells Fargo Multifamily Capital New York, NY

Pictures Not Available Eli Hanacek

Kristen Klingbeil-Weis

Holland Partner Group Vancouver, WA

Klingbeil Capital Management/American Apartment Communities Santa Barbara, CA

Timothy Hogan Trammell Crow Residential Dallas, TX

Warren J. Durkin, Jr.

Jay Jacobson

Wood Partners, LLC Boca Raton, FL

Wood Partners, LLC Boca Raton, FL

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RENTER NATION National Multi Housing Council 2010 Annual Report

people Simon Ziff

Arlene Mayfield

Jeff Lee

Ernest L. Heymann

Ackman Ziff Real Estate Group, LLC New York, NY

Apartment Guide Norcross, GA

Beech Street Capital Bethesda, MD

CAPREIT, Inc. Rockville, MD

Jeffery Daniels

Kevin Doyle

Robert S. Aisner

Richard L. Kadish

AIG Global Real Estate Investment Corp. New York, NY

Apartments.com Chicago, IL

Behringer Harvard Addison, TX

CAPREIT, Inc. Rockville, MD

Donald Huffner

Brad Long

Mark Alfieri

Tyler Anderson

AIG Global Real Estate Investment Corp. New York, NY

Apartments.com Chicago, IL

Behringer Harvard Addison, TX

CB Richard Ellis, Inc. Phoenix, AZ

James M. Krohn

Thomas P. MacManus

Jonathan D. Bell

DeAnna Thomas

Alliance Residential Company Phoenix, AZ

ARA Finance, LLC Boca Raton, FL

Bell Partners Greensboro, NC

CB Richard Ellis Investors, LLC Boston, MA

Bruce C. Ward

Roger H. Beless

Steven D. Bell

Stephen J. Zaleski

Alliance Residential Company Phoenix, AZ

Archon Residential Irving, TX

Bell Partners Greensboro, NC

CB Richard Ellis Investors, LLC Boston, MA

Lauren A. Brockman

William S. Robinson

Michael D. Bryant

Steven Fayne

Allied Realty Services, Ltd. Denver, CO

Archon Residential Irving, TX

Berkadia Commercial Mortgage Dallas, TX

Citi Community Capital San Francisco, CA

Tim L. Myers

Lin Atkinson

John M. Cannon

Hal G. Kuykendall

Allied Realty Services, Ltd. Houston, TX

AT&T Connected Communities Atlanta, GA

Berkadia Commercial Mortgage Horsham, PA

Citi Community Capital Denver, CO

Michael H. Godwin

Thuy Woodall

Mark W. Dunne

Francis J. Coen

Ambling Companies, Inc. Valdosta, GA

AT&T Connected Communities Atlanta, GA

Boston Capital Corporation Boston, MA

Clark Realty Capital, L.L.C. Monterey, CA

R. Ryan Holmes

Michael G. Miller

John P. Manning

Douglas R. Sandor

Ambling Companies, Inc. Valdosta, GA

AUM Oak Brook, IL

Boston Capital Corporation Boston, MA

Clark Realty Capital, L.L.C. Arlington, VA

William C. Bayless, Jr.

Daniel J. Roehl

Barden Brown

LaNitra Webb

American Campus Communities Austin, TX

AUM Oak Brook, IL

Brown Realty Advisors Atlanta, GA

Colliers International USA Headquarters Boston, MA

Jason Wills

Phillip E. Bogucki

Walter W. Miller

Daniel J. Epstein

American Campus Communities Austin, TX

AZUMA Leasing Austin, TX

Brown Realty Advisors Atlanta, GA

The ConAm Group of Companies San Diego, CA

Rodrigo Lopez

BJ Rosow

Bradley B. Chambers

J. Bradley Forrester

AmeriSphere Multifamily Finance, LLC Omaha, NE

AZUMA Leasing Austin, TX

Buckingham Companies Indianapolis, IN

The ConAm Group of Companies San Diego, CA

Scott G. Suttle

David Doerner

Alexandra S. Jackiw

Jason Rosa

AmeriSphere Multifamily Finance, LLC Bethesda, MD

Bader Company Indianapolis, IN

Buckingham Companies Indianapolis, IN

Continental Realty Advisors, Ltd. Littleton, CO

Steve F. Hallsey

John Swift

Jerry Feldman

David W. Snyder

AMLI Management Company Chicago, IL

Bader Company Indianapolis, IN

CallSource Westlake Village, CA

Continental Realty Advisors, Ltd. Littleton, CO

Gregory T. Mutz

Tom Keady

Jeff Smedley

Nevel DeHart

AMLI Residential Properties, L.P. Chicago, IL

The Bainbridge Companies West Palm Beach, FL

CallSource Westlake Village, CA

CoreLogic SafeRent Rockville, MD

Kimberly J. Sperry

Richard Schechter

David J. Adelman

James W. Harris

Amstar Group, LLC Denver, CO

The Bainbridge Companies West Palm Beach, FL

Campus Apartments Philadelphia, PA

CoreLogic SafeRent Rockville, MD

Margette Getto

Grace Huebscher

Miles H. Orth

Mark Higgins

Apartment Guide Carrollton, TX

Beech Street Capital Bethesda, MD

Campus Apartments Philadelphia, PA

Cornerstone Real Estate Advisers LLC Santa Monica, CA


RENTER NATION National Multi Housing Council 2010 Annual Report

Brian Murdy

Daniel Haefner

Wayne E. McDonald

Edward J. Pettinella

Cornerstone Real Estate Advisers LLC Hartford, CT

Drucker & Falk, LLC Raleigh, NC

Forestar Group, Inc. Austin, TX

Home Properties, Inc. Rochester, NY

William Bradford Blash

Miles Spencer

Phillip Weber

David Kapiloff

Crossbeam Capital LLC Bethesda, MD

Eastdil Secured, LLC Washington, DC

Forestar Group, Inc. Austin, TX

Insgroup, Inc. Houston, TX

Richard K. Devaney

Randy Churchey

Gina M. Dingman

Peter Katz

Crossbeam Capital LLC Bethesda, MD

Education Realty Trust, Inc. Memphis, TN

GDCRE, Inc. Minneapolis, MN

Institutional Property Advisors (A Marcus & Millichap Company) Phoenix, AZ

Dodge Carter

Thomas Trubiana

Edward Coco

Crow Holdings Dallas, TX

Education Realty Trust, Inc. Memphis, TN

GE Real Estate Alpharetta, GA

Simon J. Butler

John M. O'Hara, Jr.

Frank Marro

The Irvine Company Apartment Communities 'IAC' Irvine, CA

Cushman & Wakefield Boston, MA

Edward Rose & Sons Farmington Hills, MI

GE Real Estate Alpharetta, GA

William N. Elam, III

Byron L. Moger

Warren Rose

Stephen LoPresti

The JBG Companies Chevy Chase, MD

Cushman & Wakefield Tampa, FL

Edward Rose & Sons Farmington Hills, MI

Gerson Bakar & Associates San Francisco, CA

James A. Butz

John Caltagirone

Gregory L. Engler

Linda Zeller

Jefferson Apartment Group McLean, VA

The Dinerstein Companies Houston, TX

Engler Financial Group, LLC Alpharetta, GA

Gerson Bakar & Associates San Francisco, CA

Gregory G. Lamb

Brian L. Dinerstein

Patrick Jones

Philip S. Payne

Jefferson Apartment Group McLean, VA

The Dinerstein Companies Houston, TX

Engler Financial Group, LLC Alpharetta, GA

Ginkgo Residential Charlotte, NC

Richard J. High

Anthony Schaffer

Christopher E. Hashioka

D. Scott Wilkerson

John M. Corcoran & Company Braintree, MA

DIRECTV El Segundo, CA

Fairfield Residential LLC San Diego, CA

Ginkgo Residential Charlotte, NC

Jeffrey T. Morris

Andrew K. Dolben

Gregory R. Pinkalla

John J. Gray, III

Jones Lang LaSalle Americas, Inc. Orlando, FL

The Dolben Company, Inc. Woburn, MA

Fairfield Residential LLC San Diego, CA

Grayco Partners LLC Houston, TX

Jubeen F. Vaghefi

Deane H. Dolben

Jonathan Cox

James M. Bachner

Jones Lang LaSalle Americas, Inc. Miami, FL

The Dolben Company, Inc. Woburn, MA

The Federated Companies Miami Beach, FL

Heitman LLC Chicago, IL

Cindy Clare

Jack W. Safar

Dung T. Lam

Howard Edelman

Kettler McLean, VA

Dominium Group, Inc. Plymouth, MN

The Federated Companies Miami Beach, FL

Heitman LLC Chicago, IL

Laurel Howell

Jon Segner

Richard N. Shinberg

Mark Forrester

Kettler McLean, VA

Dominium Group, Inc. Plymouth, MN

First Capital Realty, Inc. Bethesda, MD

Hendricks & Partners Phoenix, AZ

David G. Shillington

Terry B. Schwartz

Les Zimmerman

Don Hendricks

KeyBank Real Estate Capital Dallas, TX

Dover Realty Advisors Bingham Farms, MI

First Capital Realty, Inc. Bethesda, MD

Hendricks & Partners Phoenix, AZ

John Falco

Adam C. Breen

Robert L. Johnston

Alan Patton

Kingsley Associates Atlanta, GA

DRA Advisors, LLC New York, NY

First Communities Atlanta, GA

Hines Houston, TX

Peggy Robinson

David Luski

Mark A. Fogelman

Jeffrey A. Hirschfeld

Kingsley Associates Atlanta, GA

DRA Advisors, LLC New York, NY

Fogelman Management Group Memphis, TN

Hirschfeld Properties LLC New York, NY

Keith A. Harris

Kellie Falk-Tillett

Richard L. Fogelman

Scott A. Doyle

The Laramar Group, LLC Chicago, IL

Drucker & Falk, LLC Raleigh, NC

Fogelman Properties Memphis, TN

Home Properties, Inc. Rochester, NY

Kevin A. Baldridge

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RENTER NATION National Multi Housing Council 2010 Annual Report

people David B. Woodward

Robert D. Lazaroff

Kerry R. French

Faron G. Thompson

The Laramar Group, LLC Greenwood Village, CO

The Michelson Organization St. Louis, MO

NorthMarq Capital, Inc. Houston, TX

Primary Capital Advisors, LC Atlanta, GA

Christine Akins

Bruce V. Michelson, Jr.

Edward Padilla

John D. Millham

LaSalle Investment Management, Inc. Chicago, IL

The Michelson Organization St. Louis, MO

NorthMarq Capital, Inc. Minneapolis, MN

Prometheus Walnut Creek, CA

Peter P. DiLullo

H. Eric Bolton, Jr.

Robert A. Esposito

Clayton A. Parker

LCOR Incorporated Berwyn, PA

Mid-America Apartment Communities, Inc. Memphis, TN

NWP Services Corporation Pembroke Pines, FL

Prometheus San Mateo, CA

Thomas J. O'Brien

Albert M. Campbell

Mike Radice

Joe Colon

LCOR Incorporated Berwyn, PA

Mid-America Apartment Communities, Inc. Memphis, TN

NWP Services Corporation Irvine, CA

Protection 1 Security Tampa, FL

Thomas Bacon

Richard Furr

Gene R. Blevins

Melisa Hutson

The Lionstone Group Houston, TX

Milestone Group Dallas, TX

Orion Real Estate Services, Inc. Houston, TX

Protection 1 Security Tampa, FL

Alison Dimick Malkhassian

Steve T. Lamberti

Kirk H. Tate

Bruce LaMotte

The Lionstone Group Houston, TX

Milestone Management Dallas, TX

Orion Real Estate Services, Inc. Houston, TX

Providence Management Company, L.L.C. Chicago, IL

Thomas F. McCoy, Jr.

Paul Harris

P. David Onanian

Alan Pollack

Lockton Companies, LLC Denver, CO

Moran & Company Dallas, TX

PAS Purchasing Solutions Houston, TX

Providence Management Company, L.L.C. Chicago, IL

Charles M. McDaniel

Jeffrey Williams

Randall M. Paulson

Thomas G. Smith

Lockton Companies, LLC Denver, CO

Moran & Company Seattle, WA

PAS Purchasing Solutions Plano, TX

Prudential Real Estate Investors Atlanta, GA

Helen Angelo

Carter Bechtol

David R. Picerne

Bruce Barfield

Madison Apartment Group Philadelphia, PA

The Morgan Group, Inc. Houston, TX

Picerne Real Estate Group Phoenix, AZ

The Rainmaker Group Alpharetta, GA

Joseph F. Mullen

Michael S. Morgan

Ronald G. Brock, Jr.

Tammy Farley

Madison Apartment Group Philadelphia, PA

The Morgan Group, Inc. Houston, TX

Pierce-Eislen, Inc. Scottsdale, AZ

The Rainmaker Group Alpharetta, GA

John Eifler

David Koffler

Ronald G. Brock, Sr.

Dirk D. Wakeham

The Marquette Companies Romeoville, IL

Morgan Properties King of Prussia, PA

Pierce-Eislen, Inc. Scottsdale, AZ

RealPage, Inc. Carrollton, TX

Nicholas Michael Ryan

Eric Gramberg

Herman Bulls

Stephen T. Winn

The Marquette Companies Naperville, IL

Move Westlake Village, CA

Pillar Multifamily, LLC Vienna, VA

RealPage, Inc. Carrollton, TX

Gerald J. Haak

Bess Matuszewski

Mark Van Kirk

Mark C. Beisler

MAXX Properties Harrison, NY

MRI Software Highland Hills, OH

Pillar Multifamily, LLC Vienna, VA

Red Mortgage Capital, LLC Reston, VA

Andrew R. Wiener

Shane Trigg

D. Scott Bassin

David L. Goodman

MAXX Properties Harrison, NY

MRI Software Highland Hills, OH

PNC Real Estate Pittsburgh, PA

Red Mortgage Capital, LLC Reston, VA

Michael C. McDougal

John H. Helm

William Thomas Booher

Russell L. Dixon

McDougal Properties, L.C. Lubbock, TX

MyNewPlace San Francisco, CA

PNC Real Estate San Francisco, CA

RedHill Realty Investors, LP San Diego, CA

Tristan Thoma

Henry Nevins

Donna Preiss

Travis Greenwood

McDougal Properties, L.C. Lubbock, TX

Nevins*Adams*Lewbel*Schell Santa Barbara, CA

The Preiss Company Raleigh, NC

RedHill Realty Investors, LP San Diego, CA

Kenneth Lee

Michael R. Schell

John Preiss

Howard S. Primer

McDowell Properties San Francisco, CA

Nevins*Adams*Lewbel*Schell Scottsdale, AZ

The Preiss Company Raleigh, NC

RenaissancePG, LLC Knoxville, TN

W. Patrick McDowell

Richard Burns

John W. Bray

Tamela M. Coval

McDowell Properties San Francisco, CA

The NHP Foundation New York, NY

Primary Capital Advisors, LC Atlanta, GA

RentWiki.com Atlanta, GA


RENTER NATION National Multi Housing Council 2010 Annual Report

Suzanne Lovelace

Nancy Barton

Jeffrey G. Maguire

Michael K. Hayde

RentWiki.com Atlanta, GA

Stellar Advisors, LLC Rockville, MD

UBS Realty Investors LLC Hartford, CT

Western National Property Management Irvine, CA

Terry S. Danner

David Schwartzberg

Thomas W. Toomey

Stephan T. Beck

Riverstone Residential Group Dallas, TX

Stellar Advisors, LLC Rockville, MD

UDR, Inc. Highlands Ranch, CO

Whiteco Residential LLC Merrillville, IN

Ralph Daruns

Robert Rosania

Warren L. Troupe

Charles W. Brammer, Jr.

Rockhall Funding Corp. Dallas, TX

Stellar Management New York, NY

UDR, Inc. Highlands Ranch, CO

The Wilkinson Group, Inc. Atlanta, GA

Kathryn Thompson

Michael Katz

Geoffrey C. Brown

Phillip R. Deguire

Rockhall Funding Corp. Dallas, TX

Sterling American Property Inc. Great Neck, NY

USA Properties Fund, Inc. Roseville, CA

The Wilkinson Group, Inc. Atlanta, GA

Daniel McNulty

Tarak Patolia

Karen McCurdy

Samuel Ross

Rockwood Real Estate Advisors New York, NY

Sterling American Property Inc. Great Neck, NY

USA Properties Fund, Inc. Roseville, CA

WinnCompanies Boston, MA

W. Michael Doramus

Joanne Luger

Eric D. Cevis

Lawrence H. Curtis

Sarofim Realty Advisors Dallas, TX

Time Warner Cable Herndon, VA

Verizon Enhanced Communities Basking Ridge, NJ

WinnDevelopment Boston, MA

David Evemy

Dave Schwehm

Thomas Nugent

Jeff Bosshard

Sarofim Realty Advisors Dallas, TX

Time Warner Cable Herndon, VA

Verizon Enhanced Communities Basking Ridge, NJ

Woodmont Real Estate Services Belmont, CA

James D. Scully, Jr.

Mike Mauseth

Jonathan Holtzman

Ronald V. Granville

Scully Company Jenkintown, PA

TransUnion/CreditRetriever Greenwood Village, CO

Village Green Companies Farmington Hills, MI

Woodmont Real Estate Services Belmont, CA

Michael A. Scully

Steve Roe

George S. Quay, IV

Brigitta Eggleston

Scully Company Jenkintown, PA

TransUnion/CreditRetriever Greenwood Village, CO

Village Green Companies Farmington Hills, MI

Yardi Systems, Inc. Santa Barbara, CA

W. Steve Gilmore

Edward J. Ryder

Brendan Coleman

Amy Gregory

Shea Properties Aliso Viejo, CA

Transwestern Investment Company, LLC Chicago, IL

Walker & Dunlop Bethesda, MD

Yardi Systems, Inc. Santa Barbara, CA

Colm Macken

Douglas Crocker, II

Howard W. Smith, III

Samuel C. Stephens, III

Shea Properties Aliso Viejo, CA

Transwestern Multifamily Partners, L.L.C. Fort Myers, FL

Walker & Dunlop Bethesda, MD

ZOM Companies Orlando, FL

Jeffrey K. Hettleman

Michael E. Tompkins

Jack O'Connor

Greg West

Shelter Development, LLC Baltimore, MD

TriBridge Residential LLC Atlanta, GA

Weidner Property Management LLC Kirkland, WA

ZOM Companies Fort Lauderdale, FL

Marilynn K. Duker

Wayne A. Vandenburg

W. Dean Weidner

The Shelter Group Baltimore, MD

TVO Groupe LLC Chicago, IL

Weidner Property Management LLC Kirkland, WA

K. Brad Broyhill

Russell A. Vandenburg

Tom P. Colich

Simpson Housing LLLP Denver, CO

TVO North America El Paso, TX

Wesco Companies Torrance, CA

J. Robert Love

David J. Ingram

Donald J. Pierce, II

Simpson Housing LLLP Atlanta, GA

UBS Realty Investors LLC Hartford, CT

Wesco Companies Torrance, CA

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RENTER NATION National Multi Housing Council 2010 Annual Report

people 707 Management Services, Inc.

Cityview

Ingersoll Rand Residential Solutions

Piedmont Properties Group, LLC

Allegiant Residential

Community Housing Improvement Program Inc.

Innovative Student Housing

PPG Architectural Coatings

Insgroup, Inc.

Prudential Real Estate Investors

J.P. Morgan Asset Management

RCLCO

Jane Kerber

Realty Center Management, Inc.

Jones Lang LaSalle Americas, Inc.

Recap Real Estate Advisors

KeyBanc Capital Markets

Resident Gifts LLC

KTGY Group Inc.

Robb Herring

Landmark Properties

Ross Companies RPD Catalyst, LLC

Allianz Allison Shelton Real Estate Services, Inc.

Consolidated Investment Group, LLC Construction Enterprises, Inc.

American Group Advisors, LLC

Cox-Schepp

American Land Ventures, LLC

The Crichton Group

AMI Capital

CRIO, Inc.

ARA Finance, LLC

Criterion Brock

Arcadian Real Estate Group

CWCapital

Area Property Partners

CWCapital Asset Management, LLC

Langan Engineering and Environmental Services

Artemis Real Estate

DeBartolo Development

Legacy Development Partners

Assurant Asset Management

Doster Construction Company, Inc.

Seldin Company

Axiometrics Inc.

Dougherty Mortgage LLC

Legacy Property Management Services, LLC

Eaton Vance Management

Legend Asset Management II, LLC

Sovereign Bank

BBVA Compass

The Emmes Group of Companies

Leon Capital Group, LLC

Thackeray Partners

Beacon Place Apartments, LLC

Empire American Holdings, LLC

LTVentures

Transwestern

Beecher Carlson

Epoch Management, Inc.

MAC Realty Advisors, LLC

TRECAP Partners

Bentall Kennedy

Everett Realty Services, Inc.

Matthew T. Maloney

Treesdale Real Estate

Billingsley Company

Facebook Marketplace

McShea Properties

Trinco Real Estate, LLC

Blackstone Consulting LLC

The Federated Companies

Mercury Investment

Union Bank

Blue Ridge Companies, LLC

Finesa Real Estate Group

Metro Multifamily Housing Association

VARO, a BYL Company

BMO Capital Markets Branch Properties, LLC

Franklin Street

Miles Realty Co. Inc.

Vornado/Charles E. Smith

Broadpoint Gleacher

Fulton Property Group, LLC

Mill Creek Residential Trust, LLC

Walton Communities, LLC

Brook Scott Associates

G5

Momentum Real Estate Partners

Warmington Capital Partners

Building and Land Technology Corp.

GDCRE, Inc.

Moss Adams Capital, LLC

Watermark Residential

BuildingLink.com LLC

Gleacher & Company

Nationwide Life Insurance Company

Watt Companies

Cambridge Management Co.

Goulston & Storrs

Westrope

CapitalSource

Grosvenor Investment Management

NCC Business Services of America, Inc.

Capital Strategies Advisory Group, LLC

The Wolff Company

The Carlyle Group

HFBE Investment Banking

Opus Bank

Carter & Associates

Honigman Miller Schwartz and Cohen LLP

Pacific Property Company

CertainTeed Corporation

ING Realty Group LLC

Visa, Inc.

Winthrop Management Oden Hughes, L.L.C.

Hunt Companies

Screening Reports, Inc.

Oculus Capital Group, LLC

Grubb & Ellis Company

Centura Capital, LLC

The Screening Pros, LLC

Wonderlic, Inc. WPC (Winter Park Construction) Y-12 Investments, LLC Phillips Management Group ZR2 Management, LLC Phoenix Capital Partners, Ltd.


RENTER NATION National Multi Housing Council 2010 Annual Report

peopleour sponsors NMHC expresses its appreciation to the following member firms that generously sponsored research, advocacy efforts and meeting events in 2010. 2010 Chairman’s Circle ($50,000 or more in sponsorship)

The Apartment Guide

Freddie Mac

Time Warner Cable

AT&T Connected Communities

Kroll Factual Data, Inc.

Verizon Enhanced Communities

AZUMA Leasing

Network Multifamily Corporation

Yardi Systems, Inc.

Comcast Cable Communications

Pinnacle

Fannie Mae

RealPage, Inc.

2010 Friends of the Council ($25,000 to $49,999 in sponsorship)

AIMCO

CB Richard Ellis

MyNewPlace

Apartment Realty Advisors

CoreLogic SafeRent

Red Mortgage Capital, LLC

AvalonBay Communities, Inc.

Hendricks & Partners

Rent.com

Bader Company

Jones Lang LaSalle

Riverstone Residential Group

BRE Properties, Inc.

Mid-America Apartment Communities

UDR, Inc.

CallSource

Moran & Company

Camden Property Trust

MRI Software

NMHC Political Action Committee (PAC) Elite Marcus & Millichap National Multi Housing Group

Equity Residential

41


42

RENTER NATION National Multi Housing Council 2010 Annual Report

people our sponsors 2010 Additional Sponsors AMLI Residential

Cushman & Wakefield

SARES•REGIS Group

Archstone

Grandbridge Real Estate Capital

CAPREIT, Inc.

HFF

Schlage Lock/Ingersoll Rand Residential Solutions

CARES by Apartment Life

KeyBank Real Estate Capital

Colliers International

Kingsley Associates

Colonial Properties Trust

NWP Services Corporation

Cox Communications

The Rainmaker Group

University Furnishings Walker & Dunlop Waterton Associates

For the 12th year in a row, Time Warner Cable sponsored the keynote speakers at the 2010 NMHC Annual Meeting. (Left to right:) NMHC Chairman Peter Donovan, Former Vermont Governor Howard Dean, Time Warner Cable’s Dave Schwehm, Republican Strategist Karl Rove and NMHC President Doug Bibby.


RENTER NATION National Multi Housing Council 2010 Annual Report

Multifamily Information and Transactions Standards (MITS) Sponsors American Utility Management

Forest City Residential Management, Inc.

NWP Services Corporation

AMSI

G5 Search Marketing

On-Site.com

Apartments.com

Hocutt, Inc.

Post Properties, Inc.

Archstone

Home Properties

Prometheus Real Estate Group

Assurant Specialty Property

Homes and Land Affiliates, LLC

PropertyBridge, a MoneyGram Co.

Bader Company

Hunter Warfield, Inc.

Property Solutions

Blue Moon Software Company

ista North America, Inc.

RealPage, Inc.

BRE Properties, Inc.

KeyTrak

Rent.com

CallSource

Kroll Factual Data

RentGrow, Inc.

Camden Property Trust

Lead Tracking Solutions

ResidentCheck, Inc.

Contemporary Information Corp.

Milestone Management Company

Resident Data, a ChoicePoint Service

CoreLogic SafeRent

Minol

Resite Online

ePremium Insurance Agency

Move

Spherexx.com

Equity Residential

MyNewPlace

Starnik Systems Inc.

eREI

National Apartment Association

vFlyer Inc.

Fair Collections & Outsourcing, Inc.

National Assisted Housing Management Association

Yardi Systems, Inc.

Fiesta Apartments

Nationwide Energy Partners

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RENTER NATION National Multi Housing Council 2010 Annual Report

people our team Douglas M. Bibby President

Cindy Chetti Senior Vice President of Government Affairs

Susan Guthrie Senior Vice President, Finance and Operations

James N. Arbury Vice President, Student Housing

Betsy Feigin Befus Vice President, Employment Policy and Counsel

Matthew M. Berger Vice President, Tax

Lisa E. Blackwell Vice President, Housing Policy

David B. Cardwell Vice President, Capital Markets and Technology

Jeanne McGlynn Delgado Vice President, Business Operations and Risk Management Policy

Kimberly A. Duty Vice President, Communications

Deborah D. Lee Vice President, Administration

Eileen C. Lee, Ph.D. Vice President, Energy and Environmental Policy

Ronald G. Nickson Vice President of Building Codes

Mark H. Obrinsky, Ph.D. Vice President of Research and Chief Economist

Julie T. Stalknecht Vice President of Membership, Marketing and Meetings

Michael H. Tucker Senior Director of Communications

Jennifer M. Angebranndt, CMP Director of Meetings

Myrra M. Bariring Director of Accounting

Michele L. Cherry Director of Administration

Paula M. Cino Director of Energy and Environmental Policy

Lauren Dwyer Director of Technology and Industry Initiatives

Danielle Morris James PAC Director

Deanita Holland, CMP Assistant Director of Meetings

David Covucci Web Manager

La Fayette Flowers Manager of Membership Services

David A. Knerler Manager of Technology

Amy Jo Beranek Legislative Analyst

Candace M. Thomas Administrative Assistant

LeVoniann (Toni) Sampson Receptionist/ Administrative Associate


1850 M Street, NW, Suite 540 Washington, DC 20036 202/974-2300 • 202/775-0112 (fax) info@nmhc.org • www.nmhc.org

2010 National Multi Housing Council Annual Report  

Annual report of the National Multi Housing Council, the leading advocate for the apartment industry.

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