Alliance Residential has earned national recognition by making the National Multi Housing Council’s (NMHC) annual multifamily industry rankings report. For the first time, the NMHC expanded to include the nation’s Top 25 Developers, with Alliance ranking as the No. 1 apartment developer with 7,500 starts in 2014. This follows Alliance’s No. 1 ranking on last year’s top developers list, produced by Multifamily Executive magazine.
“Thanks to our great investor partners, clients and associates, Alliance was able to fully leverage a bright U.S. multifamily picture, highlighted by strong fundamentals, high investor demand, and continued favorable demographics in 2014,” said Jay Hiemenz, Alliance President and Chief Operating Officer. “We generated phenomenal returns for our investors which, in many cases, were record-setting for their respective markets.
We opened new markets with our first starts in Nashville and New Jersey, and opened our 34th U.S. office location in Boston. We started roughly 7,500 units, representing our best production year since inception in 2000, and currently have 11,000 units under construction, with about as many in the pipeline.”
In addition, Alliance moved up two spots from last year’s ranking to become the seventh largest apartment management company in the nation. Now in its 26th year, the 2015 NMHC 50 is reporting growth across the industry, and noted the number of apartments in the portfolios of the NMHC Top 50 managers rose to an all-time high, just short of 3 million.
“Alliance grew our management portfolio to more than 80,000 units and, more importantly, continued our development of cutting-edge sales, marketing, training and sustainability systems to maintain our standing as a best-in-class operator that drives value creation for our clients and investors,” Hiemenz added. “Specific highlights on the sustainability front include producing our first LEED Platinum buildings, retrofitting thousands of existing units and becoming a certified Energy Star Partner. We are entering 2015 with positive momentum, strong GDP growth, continued low interest rates, good job creation, solid renter demand and positive investor equity flows into apartments. Supply seems to be peaking or has peaked, given higher costs and more entitlement difficulty, thus aiding sustained favorable fundamentals. Occupancy is above 95 percent, rent growth is significantly outpacing inflation and NOI growth is strong. Alliance is well-positioned with a healthy pipeline and conservative balance sheet to continue to create value for our clients and investors.”