2026 Top Multifamily Property Owners

Key: A=Affordable Housing, Mi=Military Housing, MR=Market Rate, L=Luxury, St=Student Housing, Se=Senior Housing, X=Other

Though we make every effort to include all major commercial owners, several notable firms (among them MAA, AvalonBay Communities, Nuveen, Equity Residential, Hines) did not participate this year.

To be included in upcoming surveys, email Agota Felhazi at agota.felhazi@cpe-mhn.com. 

---

The investment market may have slowed in the past year, but the companies on our 2026 Top Multifamily Property Owners ranking bought more than they sold. The 55 companies included on our list acquired more than $24 billion worth of property and developed $10 billion, while they disposed of $18.6 billion during the year ending in June 2026.

Their fundamentals also improved, reflecting the broader multifamily sector. Owners have turned their attention to improving occupancy, resulting in elevated renewals, while tightening their development pipelines. The national occupancy rate was 94.1 percent as of June, according to Yardi Matrix data. That has helped rent growth returned to positive territory, with the average advertised asking rent across the U.S. rising modestly to $1,763 in June, marking a 0.2 percent increase year-over-year.

Among our Top Multifamily Property Owners, 18 had figures exceeding the national average, with the ranking’s average rate at 93.2 percent. Eden Housing Inc. in particular stood out, with a commendable 97.5 percent occupancy rate.

Based on responses, all major U.S. regions were well represented by these top performers, led by the West, Southeast and Northeast. Market-rate assets outranked other classes across portfolios, followed by affordable housing, luxury properties, student and military housing, with just a small amount of SFR/BTR.

Greystar continued to lead the ranking for the seventh consecutive year. The global giant amassed a portfolio spanning more than 280,000 units. Morgan Properties rose to second place, adding more than 10,000 units to the company’s footprint year-over-year. GID Investment Advisers climbed to third place with a portfolio valued at $26.7 billion. Below, MHN highlights the firms that comprise this year’s top 10.

1. Greystar

Greystar held on to the top spot, supported by a global portfolio of more than 280,000 units, larger than the combined footprints of the next three companies. The firm remained highly active during the year ending in June 2026, completing approximately $3.3 billion in acquisitions and delivering projects valued at $3.1 billion. Greystar’s notable purchases included a $219 million acquisition of a three-property portfolio totaling 988 units, while its priciest purchase was Park Central West in London, U.K., part of a BTR portfolio. The company also sold $5.2 billion in assets as it continued to reposition its $80 billion portfolio.

2. Morgan Properties

Morgan Properties secured second place, with a portfolio spanning more than 110,000 units. The company maintained strong transaction activity throughout the 12 months ending in June 2026. Morgan Properties’ largest deal was the acquisition of Dream Residential REIT, which added 15 communities and 3,300 units across four states to its footprint. Despite the expansion, the firm’s portfolio remained largely composed of market-rate assets, while affordable and student housing made up a small portion of it.

3. GID Investment Advisers

GID Investment Advisers rose to third place with a portfolio valued at $26.7 billion and spanning close to 58,000 units. The company further refined its portfolio through strategic acquisitions, dispositions as well as development, all the while maintaining an asset mix favoring luxury properties. The largest transaction it completed during the year ending in June netted GID The Commodore, a 423-unit, LEED Platinum high-rise located in Arlington’s Courthouse neighborhood. The company paid $215.8 million for the city’s highest multifamily tower, which includes 18,462 square feet of ground-floor retail. GID continued to have the largest share of green assets among the top 10.

4. FPA Multifamily

FPA Multifamily climbed to fourth place, moving up from seventh. The company boosted its footprint by 9,000 units compared to the 2025 ranking, bringing its portfolio to 80,500 units, mainly through acquisition and, to a lesser degree, development. Among notable transactions, it acquired the 398-unit The North Water Apartments in Chicago’s Streeterville neighborhood. The company paid $178 million for the luxury asset, marking the largest transaction closed by FPA during the year ending in June 2026.

5. Cortland

Cortland maintained fifth place with a portfolio encompassing 71,000 units. Although the company’s footprint was nearly unchanged year-over-year, the number reflects a nearly equal volume of acquisitions and dispositions across the year ending in June 2026. In a key transaction, Cortland paid $1.6 billion to Elme Communities for a 19-property portfolio totaling nearly 5,800 units. The all-cash transaction marked the initial steps of the Bethesda, Md.-based REIT’s liquidation and dissolution.

6. UDR

UDR held steady in sixth place with a portfolio totaling more than 60,000 units valued at $23 billion. Present in 21 U.S. markets, the Denver-based REIT maintained a portfolio encompassing primarily market-rate assets, along with a small share of affordable housing. UDR achieved a tight portfolio occupancy of 96.6 percent at the close of the first half of 2026. The multifamily REIT also remained one of the top multifamily property management companies of the year.

7. Hunt Cos.

With a portfolio spanning more than 72,000 units, Hunt Cos. secured seventh place, advancing a position. The company remained one of the few on our ranking with a significant presence in the military housing sector. Hunt Cos.’ diverse footprint also included affordable housing, luxury assets as well as senior and student housing.  

8. The Related Cos.

The Related Cos. advanced to eighth place, up from 10th. With a portfolio nearing 69,000 units largely focused on the affordable housing sector, the company was a veritable representative of the sector among the top 10. With the largest deal closed during the year ending in June 2026, The Related Cos. Further increased its footprint of income-restricted assets. In April, it acquired an affordable portfolio totaling 1,375 units across 13 properties in Connecticut.

9. Harbor Group International

Fueled by substantial portfolio growth, Harbor Group International climbed to ninth place from 16th, with its unit count increasing by approximately 10,000 compared to the 2025 ranking. The $740 million New England portfolio marked the company’s largest transaction completed during the year ending in June 2026. Harbor acquired five properties encompassing 2,719 units in the region.

10. TruAmerica Multifamily

With a portfolio totaling 65,000 units, TruAmerica Multifamily rounded out the top 10. The company jumped several positions compared to the 2025 ranking. To strengthen its affordable housing segment, it formed a $1 billion affordable housing platform with Manulife Investment Management with the aim of acquiring 5,500 units across almost 50 properties. Notable transactions closed during the year ending in June 2026 included entry into the New York City metro with the purchase of The Grove Somerset.

Methodology

Multi-Housing News’ 2026 Top Multifamily Property Owners ranking utilized self-reported data for all firms. The ranking results from a weighted formula based on a variety of factors (only a few of which are specified here), including number of units owned, owned portfolio value, transaction activity, sustainability and a focused or diversified participation in property sectors. The ranking represents what we feel is a balanced combination of firm growth, market share and property diversity. All data is as of June 30, 2026.

—Agota Felhazi, Senior Associate Editor

Read the November 2026 issue of MHN.