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Industry | Real estate investment trust Apartments |
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Predecessor | Home Leasing Corporation |
Founded | November 13, 1993 |
Founder | Nelson B. Leenhouts Norman P. Leenhouts |
Fate | Acquired by Lone Star Funds and dissolved |
Headquarters | |
Revenue | $0.671 billion (2014) |
$0.189 billion (2014) | |
Total assets | $4.488 billion (2014) |
Total equity | $1.653 billion (2014) |
Number of employees | 1,200 (2014) |
Footnotes /references [1] |
Home Properties was a real estate investment trust that invested in apartments. As of December 31, 2014, the company owned and operated 121 apartment complexes with 42,107 apartment units, all of which were in Washington, D.C., Baltimore, Philadelphia, Long Island, Northern New Jersey, Boston, Chicago, and Florida. The company was acquired by Lone Star Funds in 2015 and dissolved.
The company specialized in acquiring older "Class C" and "Class B-" apartment communities and upgrading them to at least "Class B" quality. [2] [3]
Home Properties dates back to Home Leasing Corporation, a company founded in 1967 by twin brothers Nelson and Norman Leenhouts. [4]
Home Properties, Inc. was formed in 1993 and, on August 4, 1994, the company became a public company via an initial public offering. [1]
Effective January 1, 2004, Edward J. Pettinella was named president and CEO. [5]
In October 2015, Lone Star Funds acquired the company. [6]
CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring, cash management, treasury management, mortgage loans, Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small businesses, primarily in North America. Under the reporting mark CEFX, it leases locomotives and railroad cars to rail transport and shipping companies in North America. It also operates a direct bank. In January 2022, CIT was acquired by First Citizens BancShares.
David Lichtenstein is an American billionaire, entrepreneur, and real estate investor. He is the founder and CEO of The Lightstone Group, which he founded in 1988.
Lone Star Funds, legal name of main entity Lone Star Global Acquisitions, Ltd. is an American private equity firm that invests in distressed assets in the U.S., Canada and internationally. The founder of Lone Star established its first fund in 1995 and Lone Star has to date organized 21 private equity funds with total capital commitments since inception of over $86 billion. Lone Star's investors include corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high-net-worth individuals. Lone Star Funds has affiliate offices in North America, Europe and Japan.
Equity Residential is a United States-based publicly traded real estate investment trust that invests in apartments.
American Campus Communities, Inc. (ACC) is the largest developer, owner and manager of student housing communities in the United States. It is headquartered in Bee Cave, Texas, with an Austin postal address.
Newmark Group Inc. is a commercial real estate advisory and services firm headquartered in New York City. It operates as Newmark, and is listed on the NASDAQ Global Select Market under the symbol "NMRK".
Crow Holdings is a privately owned real estate investment and development firm based in Dallas, Texas, US, which has been operating since 1948. Originally founded by Trammell Crow, the firm was expanded under the direction of his son, Harlan Crow, chairman and former CEO. As of 2018, the company employed 450 people through its operating businesses in locations throughout the US. As of 2020, Crow Holdings managed $19.6 billion.
Camden Property Trust is a publicly-traded real estate investment trust that invests in apartments in the United States. As of December 31, 2023, the company owned interests in 176 apartment communities containing 59,800 apartment homes in the United States. It is the 14th largest owner of apartments in the United States.
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Veris Residential, Inc. is a real estate investment trust headquartered in Jersey City, New Jersey, investing primarily in multifamily real estate in New Jersey and Boston.
JRK Property Holdings is a Los Angeles based real estate holding and property management company. In 2014, JRK was the 15th largest apartment owner in the United States as ranked by the National Multi Housing Council.
RealPage is an American multinational corporation that provides property management software for the multifamily, commercial, single-family, and vacation rental housing industries. Dana Jones is Chairman of the Board & Chief Executive Officer.
Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties in the office, multi-family residential, retail, hospitality, and logistics industries throughout North America, Europe, and Australia. Its subsidiary Brookfield Properties is responsible for the management of these facilities.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
Mid-America Apartment Communities, Inc. (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.
Eugene B. Glick was an American philanthropist and builder from Indiana. After returning from serving with the U.S. Army in the European theater during World War II, he and his wife, Marilyn Glick, began constructing housing in the Indianapolis area with other military veterans in mind. Originally concentrating on building single-family homes and then shifting to apartment projects in the 1960s, the Glicks amassed a considerable fortune over their lifetimes, the bulk of which they used for extensive philanthropic endeavors.
TruAmerica Multifamily is a Los Angeles-based multifamily investment firm that specializes in the acquisition and renovation of large class B apartment properties across the United States. Since its founding in 2013 by real estate investor Robert E. Hart, the company has acquired and/or asset manages a portfolio of more than 55,000 apartment units valued at roughly $16.1 billion.
Greystar Real Estate Partners is an international real estate developer and manager based in the United States. As of 2023, Greystar had over $76 billion in gross assets under management, and operated in 17 countries.
Robert Alan Faith is an American businessman, and the founder, chairman and chief executive officer (CEO) of Greystar Real Estate Partners.
Tricon Residential is a Canadian real estate company. The company invests in single-family rental and multi-family rental homes, and owns about 31,000 properties across the United States and Canada. As of February 2021, the company had about $8.2 billion of assets under management.