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Annual report of the National Multi Housing Council, the leading advocate for the apartment industry.
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National Multi Housing Council 2010 Annual Report
National Multi Housing Council 2010 Annual Report
contentsFrom 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
People:
Our Leadership ..........................................................31
2010 New Members ..................................................40
Our Sponsors ..............................................................41
Our Team ....................................................................44
PROPERTY PHOTOS ON THE COVER
First Row, far left: Mariposa Lofts, Behringer Harvard, Atlanta, GA; far right: The Monterey, Criterion Development Partners, Dallas, TX
Second Row, center: Westover Hills, Verde Apartment Communities,San Antonio, TX
Third Row left: AMLI Quadrangle, AMLI Residential, Dallas, TX; right: The Monterey, Criterion Development Partners, Dallas, TX
All cover property photos © Steve Hinds Photography
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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 arethe principal officers of the larger and more prominent apartment firms and includeowners, developers, managers, financiers and suppliers to the industry.
The National Multi Housing Council provides leadership for the apartment industry onlegislative and regulatory matters, advances research and the exchange of strategicbusiness information, and promotes the desirability of apartment living.
nmhcour mission
nmhcour profile
FROM THE LEADERSHIP: Why Do You Belong? 3
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 theindustry’s leaders. In short, we’re the organization where the people you’dmost 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 ableto serve as the industry’s insurance policy and early warning system. As policymakers begin the most significant reform ofthe 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 manyreasons 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 ofthe 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 anddemand fundamentals point to strong rental growth in the coming years, possibly some of the strongest many of us have seen inour 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 Donovan2010-2011 NMHC Chairman
Doug BibbyNMHC President
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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 propertycounterparts. But the strength and speed of the recovery, in a fragile economy stillstruggling with high unemployment, caught some off guard in 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 quarterbrought 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. Thatawareness 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. Butwith house prices still falling and jobs not entirely secure, renting began to lose itsstigma and look like a smart play.
Our attitudes, particularly toward home-ownership and housing, are changing, andthey 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)
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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 inhouses 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 isthrowing 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, moreprofessional 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 whytoday’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 coupleswith children dominated our housing markets, causing the suburbs to grow explosively. But now they are less than 22% ofhouseholds. And that number is falling. By 2030, nearly three-quarters of our households will be childless. That’s a profoundchange 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 emerginghousing 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 batteredhousing market. But if it persists, it’s a landmark shift. And there are reasons to believe that the new normal favors more long-term renters and more renters by choice. The good news, according to the latest research, is that such a shift is good for theeconomy. And good for our happiness.
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Half of all new homes built between 2005 and 2030 willhave to be rental units.University of Utah Professor, Arthur C. Nelson
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Rent’ is no longer a ‘four-letter word.’ ...Itturns out, as we look in recent years, rentingturned out to be a pretty smart thing to do.Nicolas Retsinas - Director of Harvard’s Joint Center for Housing Studies,“Four Letters EaseHousing Fears For Some: Rent” - National Public Radio (July 23, 2010)
what headlines are sayingRich Americans Ditch Home Ownership for RentingCNBC
Survey Finds the AmericanDream Is Up for RentChicago Tribune
One Couple’s New AmericanDream: Rent, Don’t BuyNational Public Radio Online
what renters are saying
When I write my monthly rent check, I say to myself, “This is worth every penny.”
Former homeowner and current renter Mark Cleaver - “One Couple’s New American Dream:Rent, Don’t Buy” - National Public Radio (August 21, 2010)
I don’t fault myself for wanting to have that American dream....But I don’t think that homeownership is essential for thatanymore.
Nathan Quevedo - "Men Who Jump the Picket Fence” - The New York Times (January 7, 2010)
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promotingthe desirability of apartment living
On the House: RentingMay Be the Way to GoPhiladelphia Inquirer
The American Dream of Homeownership HasBecome a NightmareU.S. News & World Report
The New Renters Don’t Have ToMinneapolis Star Tribune
Owning a place adds the burden of immobility. Renting just fits my lifestyle better.
Thiyag Chinnappan, a 35-year-old marketing analyst - “Renting – Not Buying – the Dream”Chicago Now (September 10, 2010)
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)
...being ‘mobile and adaptable’ to the job market is far moreimportant 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 lotof 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 translatesinto 1 million new renters. It’s already fallen 2.5 percent.
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Between 2008 and 2015, nearly two-thirds of new householdsformed 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
promotinga more balanced housing policy
[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 whenwe launched our “Balanced Housing Policy” initiative. “How can you compete againsthomeownership?” “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 insteadof using our limited housing resources to further inflate the homeownership rate, ournation would be better served by a housing policy that seeks to provide all Americanswith 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 partybecame 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 obsessionthroughout the year, but we knew our idea had gone mainstream when the cover ofTIME magazine made “The Case Against Homeownership.”
Signs kept mounting. The federal deficit-reduction task force took on one of the nation’smost sacred cows: the mortgage interest deduction.
We realize that we are a long way off from actually having a more balancedhousing policy. But it’s nice to see that sometimes tilting at windmills actuallymakes a difference.
thought leaders weigh inI think we’ve not paid close enough attention to rental housingand the advantages of that...government should think moreclearly about how it can help withrespect to rental housing.
Mark Zandi -Chief Economist, Moody’s Analytics
It is worth asking whether federalpolicy is devoting sufficient emphasis to the expansion of quality, affordable rental housing.
FDIC Chair Sheila Bair
The system must better balancerental 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 weaningAmerica off the idea that homeownershipcures 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)
RENTER NATION National Multi Housing Council 2010 Annual Report 15
By 2030, nearly three-quarters of our households will be child-less. That’s a profound change that has serious implications forthe kind of housing we need and want.
promotingyour access to capital
RENTER NATION National Multi Housing Council 2010 Annual Report16
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 importantthan 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 misunderstandingsabout 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 ratesplaguing 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 educationeffort. We held countless one-on-one meetings with members of Congress and the Ad-ministration. We became a trusted source of multifamily information and were invited totestify three times before Congress and once before the financial bailout oversight panel.
Treasury Department officials asked us to prepare extensive background materials forthem. 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
As we work on reforming the housing financesystem going forward, we should certainlylook more at the effectiveness of the multi-family programs at Fannie Mae and FreddieMac to determine best practices. Former U.S. Rep. Paul Kanjorski (D-PA) - Former Chairman, House Capital Markets Subcommittee
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not contribute to the housing meltdown, did not put taxpayers at risk and could even serveas 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 mortgagemarket. 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 forhomeowner-ship are clear.Hank Paulson - Former U.S. Treasury Secretary
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nmhc is widely considered the leading national advocatefor the conventional apartment industry. For more than 30 years,NMHC has leveraged our extensive contacts in Washington, DCwith our fact-based approach to lobbying to actively shape thelegislation 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 ofhousing-related issues.
We worked on more than 50 issues that could have adversely impacted your businessin 2010, and we spent much of the year telling the story of the apartment sector aslawmakers 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 thatcontrary to the glut of single-family houses, growing apartment demand is outstrippingnew 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 thrivingapartment 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.
protectingyour interests in washington
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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 Repre-sentatives makes it less likely that a carried interest tax will pass, we will remain vigilant.
Secured $5 Billion Expansion of FHA Commitment AuthorityWhen the FHA multifamily mortgage insurance program nearly ran out of commit-ment authority in July, within 10 days we got a $5 billion expansion of the programenacted into law.
Stopped Federal Efforts to “Take” Struggling Multifamily Properties We turned back federal efforts to prematurely force vaguely defined “at risk” apartmentproperties into bankruptcy without the consent of the owner in order to convert them to affordable housing. We also blocked legislation that would have required assistedproperty 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 despitethe fact that it was a priority for President Obama, union activists and many Democrats
NMHC’s Immediate Past Chairman Ric Campo testified before the Senate in September on the issue of coveredbonds as a supplemental liquidity source for the apartment sector.
RENTER NATION National Multi Housing Council 2010 Annual Report 21
in Congress. The bill would limit a worker’s right to a private vote on whetheror not to join a union and would impose mandatory mediation and arbitrationin first contract negotiations on companies unable to reach an agreementwithin a very short time.
Improved the Financial Regulatory Reform LawNMHC secured revisions in the comprehensive financial regulatory reform bill (Dodd-Frank) enacted in 2010 to mitigate its impact on the flow of creditto our sector. Because of our efforts, the final bill created special treatmentfor commercial mortgage-backed securities from new “skin-in-the-game” requirements. Apartment firms that use derivatives to hedge interest raterisks 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 andbuilding code mandates. We explained that more than half the energy used in apartmentsfalls 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 – whileleaving the vast majority of building energy use unaffected, and we succeeded in gettingthe Senate to dial back the unachievable mandates that passed the House in 2009.
Moderated FHA Underwriting ChangesOur comments on FHA proposals to implement the most extensive underwriting changesin 30 years to the FHA multifamily mortgage insurance program resulted in meaningfulchanges 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 thesame for the heirs as it was for the donor).
Blocked Higher Capital Gains Tax RatesWe 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, withRepresentative 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 willbe 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 partnershipdistributions 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 We continued our work trying to create meaningful incentives for property owners tomake investing in energy savings more attractive and financially viable. Working withSenate staff, we developed legislation that would increase the Commercial Building TaxCredit to $3 per square foot from the current level of $1.80. We also secured fundingfor 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 ApartmentsIn response to suggestions that covered bonds could replace Fannie Mae and FreddieMac 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 whilecovered 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), theCouncil played a key role in an advocacy effort that led to the federal agency’s conclusionthat exclusive marketing contracts and bulk billing agreements between apartmentowners and television service providers do not hinder competition. This resulted in aruling 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 haltand then revise a plan to conduct an onerous, mandatory survey of property owners’stormwater management practices. We also produced a guidance document to assistmembers in completing the revised, but still complex questionnaire.
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 ElizabethWarren, oversees the $700 billionTroubled Asset Relief Program (TARP).
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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, thatprovides code-adoptable green building guidelines for new and substantially renovatedcommercial properties, including apartment buildings over three stories. Among otherthings, 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 firmsto help them comply with lead-based paint regulations. We also asked Congress to directHUD 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 apartmentfirms 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.
We fundamentally recognize that a one-size-fits-all solution will not work becauseof differences in the single-family and multifamily markets. The Administration isfully committed to making sure multifamilyis part of the solution.Shaun Donovan - U.S. Housing and Urban Development Secretary
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 reportchallenges the current standards as the only means of achieving compliance in theseareas 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 propertyowners who have struggled with multiple short-term extensions over the lasttwo years. Comprehensive, long-term reform remained elusive in 2010, so wewill continue to press for a five-year reauthorization, higher coverage limits, theretention of subsidized rates for certain properties and the addition of businessinterruption insurance.
Revised Proposed Fair Housing Legislation 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 CommitteesIn recognition of our longstanding work on building codes, NMHC has been named toseveral important committees that will help draft future codes and standards, includingthe 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 NationalFire Protection Association. Already, our work on the CTC has resulted in defeat of severalproposals that would have adversely affected apartment construction.
Defeated Onerous Building Code ProvisionsNMHC convinced an important ICC committee to vote against several proposals thatwould have adversely affected apartment construction, including provisions related to allowable building height and area, fire separation, emergency evacuation, carbonmonoxide and more.
In January, NMHC Vice President JeanneMcGlynn Delgado testified before a Housesubcommittee on a proposed new fairhousing testing program.
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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 LivingFund. 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, GreystarReal Estate Partners, LLC, Holland Partner Group, Home Properties, Inc., Moran & Company, Riverstone Residential Groupand Trammell Crow Residential.
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 raisingmore 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.
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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
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.
providingbusiness intelligence
RENTER NATION National Multi Housing Council 2010 Annual Report28
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 27-282011 NMHC Human Resources Forum2011 NMHC Research ForumDallas, TX (Members Only)
May 24-252011 NMHC Apartment Strategies Update and Finance ConferencePalm Beach, FL (Open to Non-Members)
May 25-262011 NMHC Spring Board of Directors MeetingPalm Beach, FL (Members Only)
September 14-152011 NMHC Fall Board of Directors and Advisory Committee MeetingWashington, DC (Members Only)
October 3-42011 NMHC Student Housing Conference & ExpositionPhoenix, AZ (Open to Non-Members)
November 7-92011 NMHC Apartment Operations andTechnology Conference & ExpositionDallas, TX (Open to Non-Members)
January 17, 20122012 NMHC Apartment Strategies ConferenceBoca Raton, FL (Open to Non-Members)
January 17-19, 20122012 NMHC Annual MeetingBoca Raton, FL (Members Only)
networkingmeetings and conferences
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
RENTER NATION National Multi Housing Council 2010 Annual Report30
Jan. 1 - Dec. 31, 2009(Audited)
$ 902,952 6,577,0657,480,017
636,075 (564,688)
71,387
14,67614,676
$ 7,566,080
$ 49,04361,977
111,020
6,816,223 638,837
7,455,060
$ 7,566,080
Jan. 1 - June 30, 2010(Audited*)
$ 312,637 6,657,254 6,969,891
641,817 (579,339)
62,478
14,67614,676
$ 7,047,045
$ 43,181 108,431 151,612
7,455,060(559,627)6,895,433
$ 7,047,045
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 orwww.tnwinc.com/webreport. From time to time, the Board may change the process by which members or employees may communicate such reports. Employeeswill 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 Statutesand 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.
ASSETS:Cash and Investments:
CashInvestments (Short Term)Total Cash and Investments
Fixed Assets:Furniture and Equipment, At CostLess: Accumulated DepreciationTotal Fixed Assets, Net
Other Assets:Security DepositTotal Other Assets
Total Assets
LIABILITIES AND UNRESTRICTED NET ASSETS:Liabilities:
Lease Payable - CopiersRefundable Advances - CITFTotal Liabilities
Unrestricted Net Assets:Unrestricted Net Assets - BeginningCurrent Year Increase/(Decrease) Total Unrestricted Net Assets
Total Liabilities and Unrestricted Net Assets
Daryl J. Carter (Chair)Avanath Capital PartnersIrvine, CA
Timothy J. NaughtonAvalonBay Communities, Inc.Arlington, VA
Richard L. KadishCAPREIT, Inc.Rockville, MD
NMHC Audit Committee
financialsstatements of financial positions
RENTER NATION National Multi Housing Council 2010 Annual Report 31
ChairmanPeter F. Donovan CB Richard Ellis, Inc.
Boston, MA
Vice ChairmanThomas S. Bozzuto
The Bozzuto GroupGreenbelt, MD
TreasurerDaryl J. Carter
Avanath Capital PartnersIrvine, CA
SecretaryRobert E. DeWitt
GID Investment Advisers LLCBoston, MA
President Douglas M. Bibby
National Multi Housing CouncilWashington, DC
Immediate Past ChairmanRic Campo
Camden Property TrustHouston, TX
AuditDaryl J. Carter
(Chair)Avanath Capital Partners
Irvine, CA
InvestmentThomas J. Sargeant
(Chair)AvalonBay
Communities, Inc.Arlington, VA
MembershipLaura Beuerlein
(Chair)Heritage Title Company
of Austin, Inc. Austin, TX
OperatingPeter F. Donovan
(Chair)CB Richard Ellis, Inc.
Boston, MA
Political ActionDavid J. Neithercut
(Chair)Equity Residential
Chicago, IL
Strategic PlanningThomas S. Bozzuto
(Chair)The Bozzuto Group
Greenbelt, MD
2011 Governance Committee Leaders
2011 Officers
peopleour leadership
RENTER NATION National Multi Housing Council 2010 Annual Report32
DiversityDaryl J. Carter
(Co-Chair)Avanath Capital Partners
Irvine, CA
DiversityMary Ann King
(Co-Chair)Moran & Company
Irvine, CA
FinanceDavid Schwartz
(Chair)Waterton Associates, L.L.C.
Chicago, IL
FinanceKeith Harris (Vice Chair)
The Laramar Group, L.L.C. Chicago, IL
Property Management Julie A. Smith
(Chair)Bozzuto Management
CompanyGreenbelt, MD
Property Management Brad Forrester
(Vice Chair)The ConAm Group
of CompaniesSan Diego, CA
2011 Policy/Information Exchange Committee Leaders
ResearchJay Lybik
(Chair)Equity Residential
Chicago, IL
ResearchJeanette Rice
(Vice Chair)Verde Realty
Fort Worth, TX
Student HousingNathan S. Collier
(Chair)The Collier Companies
Gainesville, FL
Student HousingDavid J. Adelman
(Vice Chair)Campus Apartments
Philadelphia, PA
SustainabilityAlan W. George
(Chair)Equity Residential
Chicago, IL
TaxTim L. Myers
(Chair)Allied Realty Services, Ltd.
Houston, TX
2011 Joint Legislative Committee
Daryl J. Carter (Co-Chair)
Avanath Capital PartnersIrvine, CA
Rick Graf (Co-Chair)
PinnacleDallas, TX
Sue AnselGables Residential
Dallas, TX
Terry DannerRiverstone Residential
Dallas, TX
Mark FogelmanFogelman
Management GroupMemphis, TN
Michael GormanEdward Rose & Sons
Indianapolis, IN
Stacy HuntGreystar Real Estate
Partners, LLCHouston, TX
Steve LambertiMilestone Management
Dallas, TX
Lauren Brockman (Alternate)
Allied Realty Services, Ltd.Denver, CO
Thomas Shuler(Alternate)
Berkshire Property AdvisorsRoswell, GA
RENTER NATION National Multi Housing Council 2010 Annual Report 33
Ron ZeffCarmel Partners, Inc.
San Francisco, CA
Peter F. DonovanCB Richard Ellis, Inc.
Boston, MA
Brian F. StoffersCBRE Capital Markets
Houston, TX
William T. HymanCenterline Capital Group
New York, NY
John LarsonCenterline Capital Group
New York, NY
Nathan S. CollierThe Collier Companies
Gainesville, FL
Patti FieldingAIMCO
Denver, CO
Patti ShwayderAIMCO
Denver, CO
Marc E. deBaptisteApartment Realty Advisors
Boca Raton, FL
Gary T. KachadurianApartment Realty Advisors
Oak Brook, IL
Charles E. Mueller, Jr.Archstone
Englewood, CO
R. Scot SellersArchstone
Englewood, CO
Sean J. BreslinAvalonBay
Communities, Inc.Arlington, VA
Timothy J. NaughtonAvalonBay
Communities, Inc.Arlington, VA
Daryl J. CarterAvanath Capital Partners
Irvine, CA
David J. OlneyBerkshire Property
AdvisorsBoston, MA
Thomas ShulerBerkshire Property
AdvisorsRoswell, GA
Thomas S. BozzutoThe Bozzuto Group
Greenbelt, MD
Julie A. SmithBozzuto Management
CompanyGreenbelt, MD
Stephen DominiakBRE Properties, Inc.
Irvine, CA
Constance B. MooreBRE Properties, Inc.San Francisco, CA
Laurie A. BakerCamden Property Trust
Houston, TX
Ric CampoCamden Property Trust
Houston, TX
John R. WilliamsCarmel Partners, Inc.
San Francisco, CA
people
RENTER NATION National Multi Housing Council 2010 Annual Report34
Stacy G. HuntGreystar Real Estate
Partners, LLCHouston, TX
William C. MadduxGreystar Real Estate
Partners, LLCCharleston, SC
Laura A. BeuerleinHeritage Title Company
of Austin, Inc.Austin, TX
Gary S. FarmerHeritage Title Company
of Austin, Inc.Austin, TX
Mona Keeter CarltonHFF
Dallas, TX
Matthew LawtonHFF
Chicago, IL
Clyde P. HollandHolland Partner Group
Vancouver, WA
Robert D. Greer, Jr.ING Clarion
Washington, DC
C. Stephen CordesING Clarion Partners
New York, NY
Guy K. JohnsonJohnson Capital
Irvine, CA
James H. CallardKlingbeil Capital
Management/AmericanApartment Communities
Annapolis, MD
C. Preston ButcherLegacy PartnersFoster City, CA
Jon D. WilliamsDavlyn Investments
San Diego, CA
Alan W. GeorgeEquity Residential
Chicago, IL
David J. NeithercutEquity Residential
Chicago, IL
Susanne HiegelFannie Mae
Washington, DC
Heidi McKibbenFannie Mae
Pasadena, CA
Deborah Ratner-Salzberg
Forest City Enterprises, Inc.Washington, DC
Ronald A. RatnerForest City Residential
Group, Inc.Cleveland, OH
Michael MayFreddie MacMcLean, VA
Michael F. McRobertsFreddie MacMcLean, VA
Susan AnselGables Residential
Dallas, TX
David FitchGables Residential
Atlanta, GA
Robert E. DeWittGID Investment Advisers, LLCBoston, MA
Stacy G. HuntGreystar Real Estate
Partners, LLCHouston, TX
William C. MadduxGreystar Real Estate
Partners, LLCCharleston, SC
Laura A. BeuerleinHeritage Title Company
of Austin, Inc.Austin, TX
Gary S. FarmerHeritage Title Company
of Austin, Inc.Austin, TX
Mona Keeter CarltonHFF
Dallas, TX
Matthew LawtonHFF
Chicago, IL
J. Andrew HogsheadThe Collier Companies
Gainesville, FL
Paul F. EarleColonial Properties Trust
Birmingham, AL
Edward T. WrightColonial Properties Trust
Birmingham, AL
Michael D. BermanCWCapital
Needham, MA
Donald P. King, IIICWCapital
Needham, MA
Paul G. KerrDavlyn Investments
San Diego, CA
RENTER NATION National Multi Housing Council 2010 Annual Report 35
W. Dean HenryLegacy Partners Residential, Inc.Foster City, CA
J. Timothy ByrneLincoln Property Company
Dallas, TX
Jeff B. FranzenLincoln Property Company
Herndon, VA
John J. KerinMarcus & Millichap
Encino, CA
Hessam NadjiMarcus & Millichap
Encino, CA
Martin T. LaniganMezz Cap
Short Hills, NJ
Charles R. Brindell, Jr.Mill Creek Residential
Trust, LLCDallas, TX
Mary Ann KingMoran & Company
Irvine, CA
Thomas F. MoranMoran & Company
Chicago, IL
Rick GrafPinnacleDallas, TX
Stan J. HarrelsonPinnacle
Seattle, WA
David P. StockertPost Properties, Inc.
Atlanta, GA
Jamie TeaboPost Properties, Inc.
Atlanta, GA
David DurningPrudential Mortgage
Capital CompanyChicago, IL
Dale H. TaysomPrudential Real Estate Investors
Atlanta, GA
Jerome EhlingerRREEF
Chicago, IL
Brian E. McAuliffeRREEF
Chicago, IL
Michael P. BissellSARES•REGIS Group
Irvine, CA
Geoffrey L. StackSARES•REGIS Group
Irvine, CA
Kenneth J. ValachTrammell Crow Residential
Houston, TX
David R. SchwartzWaterton Associates, L.L.C.
Chicago, IL
Gregory J. LozinakWaterton Residential
Chicago, IL
Warren J. Durkin, Jr.Wood Partners, LLC
Boca Raton, FL
Jay JacobsonWood Partners, LLC
Boca Raton, FL
Vincent R. ToyeWells Fargo
Multifamily CapitalNew York, NY
Alan WienerWells Fargo
Multifamily CapitalNew York, NY
Eli HanacekHolland Partner GroupVancouver, WA
Timothy HoganTrammell Crow ResidentialDallas, TX
Kristen Klingbeil-WeisKlingbeil Capital Management/AmericanApartment CommunitiesSanta Barbara, CA
Pictures Not Available
RENTER NATION National Multi Housing Council 2010 Annual Report36
Simon ZiffAckman Ziff Real Estate Group, LLCNew York, NY
Jeffery DanielsAIG Global Real Estate Investment Corp.New York, NY
Donald HuffnerAIG Global Real Estate Investment Corp.New York, NY
James M. KrohnAlliance Residential CompanyPhoenix, AZ
Bruce C. WardAlliance Residential CompanyPhoenix, AZ
Lauren A. BrockmanAllied Realty Services, Ltd.Denver, CO
Tim L. MyersAllied Realty Services, Ltd.Houston, TX
Michael H. GodwinAmbling Companies, Inc.Valdosta, GA
R. Ryan HolmesAmbling Companies, Inc.Valdosta, GA
William C. Bayless, Jr.American Campus CommunitiesAustin, TX
Jason WillsAmerican Campus CommunitiesAustin, TX
Rodrigo LopezAmeriSphere Multifamily Finance, LLCOmaha, NE
Scott G. SuttleAmeriSphere Multifamily Finance, LLCBethesda, MD
Steve F. HallseyAMLI Management CompanyChicago, IL
Gregory T. MutzAMLI Residential Properties, L.P.Chicago, IL
Kimberly J. SperryAmstar Group, LLCDenver, CO
Margette GettoApartment GuideCarrollton, TX
Arlene MayfieldApartment GuideNorcross, GA
Kevin DoyleApartments.comChicago, IL
Brad LongApartments.comChicago, IL
Thomas P. MacManusARA Finance, LLCBoca Raton, FL
Roger H. BelessArchon ResidentialIrving, TX
William S. RobinsonArchon ResidentialIrving, TX
Lin AtkinsonAT&T Connected CommunitiesAtlanta, GA
Thuy WoodallAT&T Connected CommunitiesAtlanta, GA
Michael G. MillerAUMOak Brook, IL
Daniel J. RoehlAUMOak Brook, IL
Phillip E. BoguckiAZUMA LeasingAustin, TX
BJ RosowAZUMA LeasingAustin, TX
David DoernerBader CompanyIndianapolis, IN
John SwiftBader CompanyIndianapolis, IN
Tom KeadyThe Bainbridge CompaniesWest Palm Beach, FL
Richard SchechterThe Bainbridge CompaniesWest Palm Beach, FL
Grace HuebscherBeech Street CapitalBethesda, MD
Jeff LeeBeech Street CapitalBethesda, MD
Robert S. AisnerBehringer HarvardAddison, TX
Mark AlfieriBehringer HarvardAddison, TX
Jonathan D. BellBell PartnersGreensboro, NC
Steven D. BellBell PartnersGreensboro, NC
Michael D. BryantBerkadia Commercial MortgageDallas, TX
John M. CannonBerkadia Commercial MortgageHorsham, PA
Mark W. DunneBoston Capital CorporationBoston, MA
John P. ManningBoston Capital CorporationBoston, MA
Barden BrownBrown Realty AdvisorsAtlanta, GA
Walter W. MillerBrown Realty AdvisorsAtlanta, GA
Bradley B. ChambersBuckingham CompaniesIndianapolis, IN
Alexandra S. JackiwBuckingham CompaniesIndianapolis, IN
Jerry FeldmanCallSourceWestlake Village, CA
Jeff SmedleyCallSourceWestlake Village, CA
David J. AdelmanCampus ApartmentsPhiladelphia, PA
Miles H. OrthCampus ApartmentsPhiladelphia, PA
Ernest L. HeymannCAPREIT, Inc.Rockville, MD
Richard L. KadishCAPREIT, Inc.Rockville, MD
Tyler AndersonCB Richard Ellis, Inc.Phoenix, AZ
DeAnna ThomasCB Richard Ellis Investors, LLCBoston, MA
Stephen J. ZaleskiCB Richard Ellis Investors, LLCBoston, MA
Steven FayneCiti Community CapitalSan Francisco, CA
Hal G. KuykendallCiti Community CapitalDenver, CO
Francis J. CoenClark Realty Capital, L.L.C.Monterey, CA
Douglas R. SandorClark Realty Capital, L.L.C.Arlington, VA
LaNitra WebbColliers International USA HeadquartersBoston, MA
Daniel J. EpsteinThe ConAm Group of CompaniesSan Diego, CA
J. Bradley ForresterThe ConAm Group of CompaniesSan Diego, CA
Jason RosaContinental Realty Advisors, Ltd.Littleton, CO
David W. SnyderContinental Realty Advisors, Ltd.Littleton, CO
Nevel DeHartCoreLogic SafeRentRockville, MD
James W. HarrisCoreLogic SafeRentRockville, MD
Mark HigginsCornerstone Real Estate Advisers LLCSanta Monica, CA
people
RENTER NATION National Multi Housing Council 2010 Annual Report 37
Brian MurdyCornerstone Real Estate Advisers LLCHartford, CT
William Bradford BlashCrossbeam Capital LLCBethesda, MD
Richard K. DevaneyCrossbeam Capital LLCBethesda, MD
Dodge CarterCrow HoldingsDallas, TX
Simon J. ButlerCushman & WakefieldBoston, MA
Byron L. MogerCushman & WakefieldTampa, FL
John CaltagironeThe Dinerstein CompaniesHouston, TX
Brian L. DinersteinThe Dinerstein CompaniesHouston, TX
Anthony SchafferDIRECTVEl Segundo, CA
Andrew K. DolbenThe Dolben Company, Inc.Woburn, MA
Deane H. DolbenThe Dolben Company, Inc.Woburn, MA
Jack W. SafarDominium Group, Inc.Plymouth, MN
Jon SegnerDominium Group, Inc.Plymouth, MN
Terry B. SchwartzDover Realty AdvisorsBingham Farms, MI
Adam C. BreenDRA Advisors, LLCNew York, NY
David LuskiDRA Advisors, LLCNew York, NY
Kellie Falk-TillettDrucker & Falk, LLCRaleigh, NC
Daniel HaefnerDrucker & Falk, LLCRaleigh, NC
Miles SpencerEastdil Secured, LLCWashington, DC
Randy ChurcheyEducation Realty Trust, Inc.Memphis, TN
Thomas TrubianaEducation Realty Trust, Inc.Memphis, TN
John M. O'Hara, Jr.Edward Rose & SonsFarmington Hills, MI
Warren RoseEdward Rose & SonsFarmington Hills, MI
Gregory L. EnglerEngler Financial Group, LLCAlpharetta, GA
Patrick JonesEngler Financial Group, LLCAlpharetta, GA
Christopher E. HashiokaFairfield Residential LLCSan Diego, CA
Gregory R. PinkallaFairfield Residential LLCSan Diego, CA
Jonathan CoxThe Federated CompaniesMiami Beach, FL
Dung T. LamThe Federated CompaniesMiami Beach, FL
Richard N. ShinbergFirst Capital Realty, Inc.Bethesda, MD
Les ZimmermanFirst Capital Realty, Inc.Bethesda, MD
Robert L. JohnstonFirst CommunitiesAtlanta, GA
Mark A. FogelmanFogelman Management GroupMemphis, TN
Richard L. FogelmanFogelman PropertiesMemphis, TN
Wayne E. McDonaldForestar Group, Inc.Austin, TX
Phillip WeberForestar Group, Inc.Austin, TX
Gina M. DingmanGDCRE, Inc.Minneapolis, MN
Edward CocoGE Real EstateAlpharetta, GA
Frank MarroGE Real EstateAlpharetta, GA
Stephen LoPrestiGerson Bakar & AssociatesSan Francisco, CA
Linda ZellerGerson Bakar & AssociatesSan Francisco, CA
Philip S. PayneGinkgo ResidentialCharlotte, NC
D. Scott WilkersonGinkgo ResidentialCharlotte, NC
John J. Gray, IIIGrayco Partners LLCHouston, TX
James M. BachnerHeitman LLCChicago, IL
Howard EdelmanHeitman LLCChicago, IL
Mark ForresterHendricks & PartnersPhoenix, AZ
Don HendricksHendricks & PartnersPhoenix, AZ
Alan PattonHinesHouston, TX
Jeffrey A. HirschfeldHirschfeld Properties LLCNew York, NY
Scott A. DoyleHome Properties, Inc.Rochester, NY
Edward J. PettinellaHome Properties, Inc.Rochester, NY
David KapiloffInsgroup, Inc.Houston, TX
Peter KatzInstitutional Property Advisors (A Marcus & Millichap Company)Phoenix, AZ
Kevin A. BaldridgeThe Irvine Company Apartment Communities 'IAC'Irvine, CA
William N. Elam, IIIThe JBG CompaniesChevy Chase, MD
James A. ButzJefferson Apartment GroupMcLean, VA
Gregory G. LambJefferson Apartment GroupMcLean, VA
Richard J. HighJohn M. Corcoran & CompanyBraintree, MA
Jeffrey T. MorrisJones Lang LaSalle Americas, Inc.Orlando, FL
Jubeen F. VaghefiJones Lang LaSalle Americas, Inc.Miami, FL
Cindy ClareKettlerMcLean, VA
Laurel HowellKettlerMcLean, VA
David G. ShillingtonKeyBank Real Estate CapitalDallas, TX
John FalcoKingsley AssociatesAtlanta, GA
Peggy RobinsonKingsley AssociatesAtlanta, GA
Keith A. HarrisThe Laramar Group, LLCChicago, IL
RENTER NATION National Multi Housing Council 2010 Annual Report38
David B. WoodwardThe Laramar Group, LLCGreenwood Village, CO
Christine AkinsLaSalle Investment Management, Inc.Chicago, IL
Peter P. DiLulloLCOR IncorporatedBerwyn, PA
Thomas J. O'BrienLCOR IncorporatedBerwyn, PA
Thomas BaconThe Lionstone GroupHouston, TX
Alison Dimick MalkhassianThe Lionstone GroupHouston, TX
Thomas F. McCoy, Jr.Lockton Companies, LLCDenver, CO
Charles M. McDanielLockton Companies, LLCDenver, CO
Helen AngeloMadison Apartment GroupPhiladelphia, PA
Joseph F. MullenMadison Apartment GroupPhiladelphia, PA
John EiflerThe Marquette CompaniesRomeoville, IL
Nicholas Michael RyanThe Marquette CompaniesNaperville, IL
Gerald J. HaakMAXX PropertiesHarrison, NY
Andrew R. WienerMAXX PropertiesHarrison, NY
Michael C. McDougalMcDougal Properties, L.C.Lubbock, TX
Tristan ThomaMcDougal Properties, L.C.Lubbock, TX
Kenneth LeeMcDowell PropertiesSan Francisco, CA
W. Patrick McDowellMcDowell PropertiesSan Francisco, CA
Robert D. LazaroffThe Michelson OrganizationSt. Louis, MO
Bruce V. Michelson, Jr.The Michelson OrganizationSt. Louis, MO
H. Eric Bolton, Jr.Mid-America Apartment Communities, Inc.Memphis, TN
Albert M. CampbellMid-America Apartment Communities, Inc.Memphis, TN
Richard FurrMilestone GroupDallas, TX
Steve T. LambertiMilestone ManagementDallas, TX
Paul HarrisMoran & CompanyDallas, TX
Jeffrey WilliamsMoran & CompanySeattle, WA
Carter BechtolThe Morgan Group, Inc.Houston, TX
Michael S. MorganThe Morgan Group, Inc.Houston, TX
David KofflerMorgan PropertiesKing of Prussia, PA
Eric GrambergMoveWestlake Village, CA
Bess MatuszewskiMRI SoftwareHighland Hills, OH
Shane TriggMRI SoftwareHighland Hills, OH
John H. HelmMyNewPlaceSan Francisco, CA
Henry NevinsNevins*Adams*Lewbel*SchellSanta Barbara, CA
Michael R. SchellNevins*Adams*Lewbel*SchellScottsdale, AZ
Richard BurnsThe NHP FoundationNew York, NY
Kerry R. FrenchNorthMarq Capital, Inc.Houston, TX
Edward PadillaNorthMarq Capital, Inc.Minneapolis, MN
Robert A. EspositoNWP Services CorporationPembroke Pines, FL
Mike RadiceNWP Services CorporationIrvine, CA
Gene R. BlevinsOrion Real Estate Services, Inc.Houston, TX
Kirk H. TateOrion Real Estate Services, Inc.Houston, TX
P. David OnanianPAS Purchasing SolutionsHouston, TX
Randall M. PaulsonPAS Purchasing SolutionsPlano, TX
David R. PicernePicerne Real Estate GroupPhoenix, AZ
Ronald G. Brock, Jr.Pierce-Eislen, Inc.Scottsdale, AZ
Ronald G. Brock, Sr.Pierce-Eislen, Inc.Scottsdale, AZ
Herman BullsPillar Multifamily, LLCVienna, VA
Mark Van KirkPillar Multifamily, LLCVienna, VA
D. Scott BassinPNC Real EstatePittsburgh, PA
William Thomas BooherPNC Real EstateSan Francisco, CA
Donna PreissThe Preiss CompanyRaleigh, NC
John PreissThe Preiss CompanyRaleigh, NC
John W. BrayPrimary Capital Advisors, LCAtlanta, GA
Faron G. ThompsonPrimary Capital Advisors, LCAtlanta, GA
John D. MillhamPrometheusWalnut Creek, CA
Clayton A. ParkerPrometheusSan Mateo, CA
Joe ColonProtection 1 SecurityTampa, FL
Melisa HutsonProtection 1 SecurityTampa, FL
Bruce LaMotteProvidence Management Company, L.L.C.Chicago, IL
Alan PollackProvidence Management Company, L.L.C.Chicago, IL
Thomas G. SmithPrudential Real Estate InvestorsAtlanta, GA
Bruce BarfieldThe Rainmaker GroupAlpharetta, GA
Tammy FarleyThe Rainmaker GroupAlpharetta, GA
Dirk D. WakehamRealPage, Inc.Carrollton, TX
Stephen T. WinnRealPage, Inc.Carrollton, TX
Mark C. BeislerRed Mortgage Capital, LLCReston, VA
David L. GoodmanRed Mortgage Capital, LLCReston, VA
Russell L. DixonRedHill Realty Investors, LPSan Diego, CA
Travis GreenwoodRedHill Realty Investors, LPSan Diego, CA
Howard S. PrimerRenaissancePG, LLCKnoxville, TN
Tamela M. CovalRentWiki.comAtlanta, GA
people
RENTER NATION National Multi Housing Council 2010 Annual Report 39
Suzanne LovelaceRentWiki.comAtlanta, GA
Terry S. DannerRiverstone Residential GroupDallas, TX
Ralph DarunsRockhall Funding Corp.Dallas, TX
Kathryn ThompsonRockhall Funding Corp.Dallas, TX
Daniel McNultyRockwood Real Estate AdvisorsNew York, NY
W. Michael DoramusSarofim Realty AdvisorsDallas, TX
David EvemySarofim Realty AdvisorsDallas, TX
James D. Scully, Jr.Scully CompanyJenkintown, PA
Michael A. ScullyScully CompanyJenkintown, PA
W. Steve GilmoreShea PropertiesAliso Viejo, CA
Colm MackenShea PropertiesAliso Viejo, CA
Jeffrey K. HettlemanShelter Development, LLCBaltimore, MD
Marilynn K. DukerThe Shelter GroupBaltimore, MD
K. Brad BroyhillSimpson Housing LLLPDenver, CO
J. Robert LoveSimpson Housing LLLPAtlanta, GA
Nancy BartonStellar Advisors, LLCRockville, MD
David SchwartzbergStellar Advisors, LLCRockville, MD
Robert RosaniaStellar ManagementNew York, NY
Michael KatzSterling American Property Inc.Great Neck, NY
Tarak PatoliaSterling American Property Inc.Great Neck, NY
Joanne LugerTime Warner CableHerndon, VA
Dave SchwehmTime Warner CableHerndon, VA
Mike MausethTransUnion/CreditRetrieverGreenwood Village, CO
Steve RoeTransUnion/CreditRetrieverGreenwood Village, CO
Edward J. RyderTranswestern Investment Company, LLCChicago, IL
Douglas Crocker, IITranswestern Multifamily Partners, L.L.C.Fort Myers, FL
Michael E. TompkinsTriBridge Residential LLCAtlanta, GA
Wayne A. VandenburgTVO Groupe LLCChicago, IL
Russell A. VandenburgTVO North AmericaEl Paso, TX
David J. IngramUBS Realty Investors LLCHartford, CT
Jeffrey G. MaguireUBS Realty Investors LLCHartford, CT
Thomas W. ToomeyUDR, Inc.Highlands Ranch, CO
Warren L. TroupeUDR, Inc.Highlands Ranch, CO
Geoffrey C. BrownUSA Properties Fund, Inc.Roseville, CA
Karen McCurdyUSA Properties Fund, Inc.Roseville, CA
Eric D. CevisVerizon Enhanced CommunitiesBasking Ridge, NJ
Thomas NugentVerizon Enhanced CommunitiesBasking Ridge, NJ
Jonathan HoltzmanVillage Green CompaniesFarmington Hills, MI
George S. Quay, IVVillage Green CompaniesFarmington Hills, MI
Brendan ColemanWalker & DunlopBethesda, MD
Howard W. Smith, IIIWalker & DunlopBethesda, MD
Jack O'ConnorWeidner Property Management LLCKirkland, WA
W. Dean WeidnerWeidner Property Management LLCKirkland, WA
Tom P. ColichWesco CompaniesTorrance, CA
Donald J. Pierce, IIWesco CompaniesTorrance, CA
Michael K. HaydeWestern National Property ManagementIrvine, CA
Stephan T. BeckWhiteco Residential LLCMerrillville, IN
Charles W. Brammer, Jr.The Wilkinson Group, Inc.Atlanta, GA
Phillip R. DeguireThe Wilkinson Group, Inc.Atlanta, GA
Samuel RossWinnCompaniesBoston, MA
Lawrence H. CurtisWinnDevelopmentBoston, MA
Jeff BosshardWoodmont Real Estate ServicesBelmont, CA
Ronald V. GranvilleWoodmont Real Estate ServicesBelmont, CA
Brigitta EgglestonYardi Systems, Inc.Santa Barbara, CA
Amy GregoryYardi Systems, Inc.Santa Barbara, CA
Samuel C. Stephens, IIIZOM CompaniesOrlando, FL
Greg WestZOM CompaniesFort Lauderdale, FL
RENTER NATION National Multi Housing Council 2010 Annual Report40
707 Management Services, Inc.
Allegiant Residential
Allianz
Allison Shelton Real Estate Services, Inc.
American Group Advisors, LLC
American Land Ventures, LLC
AMI Capital
ARA Finance, LLC
Arcadian Real Estate Group
Area Property Partners
Artemis Real Estate
Assurant Asset Management
Axiometrics Inc.
BBVA Compass
Beacon Place Apartments, LLC
Beecher Carlson
Bentall Kennedy
Billingsley Company
Blackstone Consulting LLC
Blue Ridge Companies, LLC
BMO Capital Markets
Branch Properties, LLC
Broadpoint Gleacher
Brook Scott Associates
Building and Land Technology Corp.
BuildingLink.com LLC
Cambridge Management Co.
CapitalSource
Capital Strategies Advisory Group, LLC
The Carlyle Group
Carter & Associates
Centura Capital, LLC
CertainTeed Corporation
Cityview
Community Housing ImprovementProgram Inc.
Consolidated Investment Group, LLC
Construction Enterprises, Inc.
Cox-Schepp
The Crichton Group
CRIO, Inc.
Criterion Brock
CWCapital
CWCapital Asset Management, LLC
DeBartolo Development
Doster Construction Company, Inc.
Dougherty Mortgage LLC
Eaton Vance Management
The Emmes Group of Companies
Empire American Holdings, LLC
Epoch Management, Inc.
Everett Realty Services, Inc.
Facebook Marketplace
The Federated Companies
Finesa Real Estate Group
Franklin Street
Fulton Property Group, LLC
G5
GDCRE, Inc.
Gleacher & Company
Goulston & Storrs
Grosvenor Investment Management
Grubb & Ellis Company
HFBE Investment Banking
Honigman Miller Schwartz and Cohen LLP
Hunt Companies
ING Realty Group LLC
Ingersoll Rand Residential Solutions
Innovative Student Housing
Insgroup, Inc.
J.P. Morgan Asset Management
Jane Kerber
Jones Lang LaSalle Americas, Inc.
KeyBanc Capital Markets
KTGY Group Inc.
Landmark Properties
Langan Engineering andEnvironmental Services
Legacy Development Partners
Legacy Property ManagementServices, LLC
Legend Asset Management II, LLC
Leon Capital Group, LLC
LTVentures
MAC Realty Advisors, LLC
Matthew T. Maloney
McShea Properties
Mercury Investment
Metro Multifamily Housing Association
Miles Realty Co. Inc.
Mill Creek Residential Trust, LLC
Momentum Real Estate Partners
Moss Adams Capital, LLC
Nationwide Life Insurance Company
NCC Business Services of America, Inc.
Oculus Capital Group, LLC
Oden Hughes, L.L.C.
Opus Bank
Pacific Property Company
Phillips Management Group
Phoenix Capital Partners, Ltd.
Piedmont Properties Group, LLC
PPG Architectural Coatings
Prudential Real Estate Investors
RCLCO
Realty Center Management, Inc.
Recap Real Estate Advisors
Resident Gifts LLC
Robb Herring
Ross Companies
RPD Catalyst, LLC
The Screening Pros, LLC
Screening Reports, Inc.
Seldin Company
Sovereign Bank
Thackeray Partners
Transwestern
TRECAP Partners
Treesdale Real Estate
Trinco Real Estate, LLC
Union Bank
VARO, a BYL Company
Visa, Inc.
Vornado/Charles E. Smith
Walton Communities, LLC
Warmington Capital Partners
Watermark Residential
Watt Companies
Westrope
Winthrop Management
The Wolff Company
Wonderlic, Inc.
WPC (Winter Park Construction)
Y-12 Investments, LLC
ZR2 Management, LLC
people
RENTER NATION National Multi Housing Council 2010 Annual Report 41
NMHC expresses its appreciation to the following member firms that generously sponsored research, advocacy efforts and meeting events in 2010.
($50,000 or more in sponsorship)
The Apartment Guide
AT&T Connected Communities
AZUMA Leasing
Comcast Cable Communications
Fannie Mae
Freddie Mac
Kroll Factual Data, Inc.
Network Multifamily Corporation
Pinnacle
RealPage, Inc.
Time Warner Cable
Verizon Enhanced Communities
Yardi Systems, Inc.
($25,000 to $49,999 in sponsorship)
AIMCO
Apartment Realty Advisors
AvalonBay Communities, Inc.
Bader Company
BRE Properties, Inc.
CallSource
Camden Property Trust
CB Richard Ellis
CoreLogic SafeRent
Hendricks & Partners
Jones Lang LaSalle
Mid-America Apartment Communities
Moran & Company
MRI Software
MyNewPlace
Red Mortgage Capital, LLC
Rent.com
Riverstone Residential Group
UDR, Inc.
Marcus & Millichap National Multi Housing Group Equity Residential
NMHC Political Action Committee (PAC) Elite
2010 Friends of the Council
2010 Chairman’s Circle
peopleour sponsors
RENTER NATION National Multi Housing Council 2010 Annual Report42
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.
AMLI Residential
Archstone
CAPREIT, Inc.
CARES by Apartment Life
Colliers International
Colonial Properties Trust
Cox Communications
Cushman & Wakefield
Grandbridge Real Estate Capital
HFF
KeyBank Real Estate Capital
Kingsley Associates
NWP Services Corporation
The Rainmaker Group
SARES•REGIS Group
Schlage Lock/Ingersoll Rand ResidentialSolutions
University Furnishings
Walker & Dunlop
Waterton Associates
2010 Additional Sponsors
people our sponsors
RENTER NATION National Multi Housing Council 2010 Annual Report 43
American Utility Management
AMSI
Apartments.com
Archstone
Assurant Specialty Property
Bader Company
Blue Moon Software Company
BRE Properties, Inc.
CallSource
Camden Property Trust
Contemporary Information Corp.
CoreLogic SafeRent
ePremium Insurance Agency
Equity Residential
eREI
Fair Collections & Outsourcing, Inc.
Fiesta Apartments
Forest City Residential Management, Inc.
G5 Search Marketing
Hocutt, Inc.
Home Properties
Homes and Land Affiliates, LLC
Hunter Warfield, Inc.
ista North America, Inc.
KeyTrak
Kroll Factual Data
Lead Tracking Solutions
Milestone Management Company
Minol
Move
MyNewPlace
National Apartment Association
National Assisted Housing ManagementAssociation
Nationwide Energy Partners
NWP Services Corporation
On-Site.com
Post Properties, Inc.
Prometheus Real Estate Group
PropertyBridge, a MoneyGram Co.
Property Solutions
RealPage, Inc.
Rent.com
RentGrow, Inc.
ResidentCheck, Inc.
Resident Data, a ChoicePoint Service
Resite Online
Spherexx.com
Starnik Systems Inc.
vFlyer Inc.
Yardi Systems, Inc.
Multifamily Information and Transactions Standards (MITS) Sponsors
people our team
RENTER NATION National Multi Housing Council 2010 Annual Report44
Douglas M. BibbyPresident
Cindy ChettiSenior Vice Presidentof Government Affairs
Susan GuthrieSenior Vice President,
Finance and Operations
James N. ArburyVice President,
Student Housing
Betsy Feigin BefusVice President,
Employment Policy and Counsel
Matthew M. BergerVice President, Tax
Lisa E. BlackwellVice President, Housing Policy
David B. CardwellVice President,
Capital Markets andTechnology
Jeanne McGlynnDelgado
Vice President, Business Operations
and Risk Management Policy
Kimberly A. DutyVice President,
Communications
Deborah D. LeeVice President, Administration
Eileen C. Lee, Ph.D.Vice President,
Energy and Environmental Policy
Ronald G. NicksonVice President
of Building Codes
Mark H. Obrinsky, Ph.D.Vice President
of Research and Chief Economist
Julie T. StalknechtVice President of
Membership, Marketingand Meetings
Michael H. TuckerSenior Director
of Communications
Jennifer M. Angebranndt, CMPDirector of Meetings
Myrra M. BariringDirector of Accounting
Michele L. CherryDirector of
Administration
Paula M. CinoDirector of Energy andEnvironmental Policy
Lauren DwyerDirector of Technologyand Industry Initiatives
Danielle MorrisJames
PAC Director
Deanita Holland, CMP
Assistant Director of Meetings
David CovucciWeb Manager
La Fayette FlowersManager of
Membership Services
David A. KnerlerManager of Technology
Amy Jo BeranekLegislative Analyst
Candace M. ThomasAdministrative
Assistant
LeVoniann (Toni)Sampson
Receptionist/Administrative
Associate
1850 M Street, NW, Suite 540 Washington, DC 20036202/974-2300 • 202/775-0112 (fax)
[email protected] • www.nmhc.org