Top 30 Multifamily Development Firms of 2020

The 2020 MHN Top Multifamily Development Firms ranking utilized self-reported data for all companies.

You can also read our other Top Developers rankings.

Rank Company Units Completed 2017-19 Units Under Construction* Regions Housing Diversity
1 Greystar 17,894 25,193 E, M, S, W, I M, L, St, Se, X
2 Wood Partners 15,100 9,000 E, M, S, W M, L
3 The NRP Group 9,515 12,202 E, M, S M, A, Se, X
4 Related Cos. 9,268 8,517 E, M, S, W, I M, A, Se, X
5 Trammell Crow Co./High Street Residential 3,612 10,269 E, M, S, W, I M, L, Se
6 The Related Group 8,469 4,619 E, S, W, I L, A, X
7 StreetLights Residential 5,205 4,776 S, W M, L
8 The Bainbridge Cos. 7,100 3,200 E, S M, L
9 Edward Rose Building Enterprise 3,833 5,549 E, M, S, W M, A, Se
10 AMLI Residential 3,875 3,668 M, S, W M, L, A
11 ZOM Living 5,009 3,229 E, S, W L, Se
12 Hunt Cos. 7,244 97 S, W M, L, A, Mi
13 The Wolff Co. 5,397 4,836 E, S, W M, Se
14 Flaherty & Collins Properties 5,140 1,305 E, M, S, W M, L, A, Se
15 LDG Development 3,495 6,567 M, S M, A
16 Lincoln Property Co. 2,849 1,981 E, M, S, W M, L, Mi
17 Tishman Speyer 1,977 1,976 E, M, S, W, I L, Se, X
18 The Millennia Cos. 4,737 4,481 E, M, S A
19 BRIDGE Housing 1,747 1,281 W M, A
20 The Breeden Co. 2,373 2,445 E M, L, A
21 Transwestern Development Co. 1,374 4,389 E, S, W M, L
22 Lendlease 1,003 1,132 E, M, S, W M, A, Mi
23 BGC Advantage 2,772 1,824 M, S A
24 Bozzuto Development Co. 2,743 1,684 E M, A
25 Gables Residential 2,259 1,373 E, S, W M, L
26 Camden Property Trust 2,601 1,939 E, S, W M
27 Billingsley Co. 2,204 1,465 S L
28 GMH Capital Partners 650 700 E, M, S, W, I L, St
29 City Club Apartments 794 1,162 E, M M, L
30 RD Management LLC 239 1,122 E, M, S L, Se

* As of Jun. 30, 2020

Key: Regions (E=East; M=Midwest; S=South; W=West; I=International). Housing Diversity (M=Market rate; L=Luxury; A=Affordable; St=Student; Mi=Military; Se=Senior; X=Other)

Though we make every effort to include all major multifamily developers, several notable firms (among them Alliance Residential, AvalonBay Communities and Fairfield Residential) did not participate this year.

To be included in upcoming surveys, email Jeff Hamann at [email protected].

The 2020 Multifamily Real Estate Developers of 2020

When the coronavirus pandemic first began, many developers feared a sharp slowdown in deliveries and construction starts. In many states, however, construction was considered an essential business and projects were able to move forward.

Yardi Matrix recently updated its supply forecast for the fourth quarter of 2020 to project a little more than 285,000 units delivering through year-end—a 15 percent decline from 2019. However, we expect more than 300,000 units to be delivered annually in the next two years as a result of the strong pipeline at the national level.

Following the initial economic shock, the construction industry weathered the storm better than expected, and, despite some reports of construction delays, active projects are largely moving along on schedule. A key indicator to watch going forward is the issuance of new multifamily construction permits. While new permitting has declined slightly during the past few months, it remains to be seen if this will be a lasting trend.

Greystar holds the top spot in this year’s Top Multifamily Development Firms ranking, with 25,193 units under construction as of June 30, 2020. Rounding out the Top 3 are Wood Partners with 9,000 units underway and The NRP Group with upwards of 12,000 units under construction.

Our ranking included firms of various sizes and regional as well as international activity, with the vast majority of respondents engaged in developing multiple property types, from senior housing to affordable to luxury units. Companies were asked how much multifamily development activity their firms expect to undertake in the coming years. Of the Top 30 companies, 43 percent said they anticipate taking on more—or significantly more—development activity in the next six quarters, while 40 percent expect activity levels to more or less hold steady, compared to the previous six quarters.


The 2020 MHN Top Multifamily Development Firms ranking utilized self-reported data for all firms. Our rankings utilize weighted formulas based on a variety of factors (only a few of which are specified here), including current and future plans, market value of projects completed and under construction and geographic and property diversification. The ranking represents what we feel is a logical balance between firm growth and market share.

Read the December 2020 issue of MHN.

—Madeline Winship, Senior Research Analyst, Yardi Matrix

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