The National Multifamily Housing Council (NMHC) recognized apartment industry leaders in the 2016 NMHC 50, the authoritative ranking of the country’s largest apartment owners, managers, developers and contractors. Doster Construction was ranked number 17 as a general contractor with 2,098 units started in 2015.
“The apartment industry continued with strong growth across the nation during the last year,” said Mark Obrinsky, NMHC’s Senior Vice President of Research and Chief Economist. “The collective performance of this year’s NMHC 50 firms is a further testament to the record renter demand that continues attract investment to our sector and drive transactions and development activity.”
According to the Census Bureau, the number of renter households has grown by 10.8 million since from 2005 to 2015. Reflecting this expansion, firms on the NMHC 50 ownership list have combined portfolios of more than 2.8 million apartment homes, or 14.3 percent of the total U.S. apartment stock.
Doster Construction gives most of its success in the multifamily sector to the leadership. “In my 30 years of Multifamily experience, our President, Tom Reynold’s abilities to procure new projects, manage operations, and provide certainty of execution is unmatched by any other leadership that I have had the opportunity to work with,” says Dave Terry, Project Director.
NMHC partners with Kingsley Associates, a leading real estate research and consulting firm for the NMHC 50’s research and analysis. All apartment owners, managers, developers, and contractors are invited to answer a survey questionnaire that asks about their prior year activities. Apartment owners and managers are ranked based on their portfolio holdings (either owned or managed) as of January 1, 2016, while developers and general contractors are ranked based on the number of units started in 2015.
For more details about the NMHC 50, visit www.nmhc.org/The-NMHC-50.
April 13, 2016