2010 National Multi Housing Council 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

RENTER NATION National Multi Housing Council 2010 Annual Report2

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

RENTER NATION National Multi Housing Council 2010 Annual Report 5

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


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)



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


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)


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


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


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


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.


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.


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).


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.


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.


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.


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


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


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


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


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


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


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


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


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


Timothy J. NaughtonAvalonBay


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


Stacy G. HuntGreystar Real Estate


William C. MadduxGreystar Real Estate

Partners, LLCCharleston, SC

Laura A. BeuerleinHeritage Title Company

of Austin, Inc.Austin, TX

Gary S. FarmerHeritage Title Company


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


William C. MadduxGreystar Real Estate

Partners, LLCCharleston, SC

Laura A. BeuerleinHeritage Title Company


Gary S. FarmerHeritage Title Company


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


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


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


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


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


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


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


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


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


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


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

Documents

2010 National Multi Housing Council Annual Report