PROVO, Utah (April 24, 2020) – Peak Capital Partners, a Utah-based apartment investment and management company, today announced that it was named to the “2020 NMHC 50” by the National Multifamily Housing Council (NMHC). The 2020 NMHC 50 is the annual ranking of the nation’s largest apartment owners, and this is the second time Peak has made the list.
“We are grateful that Peak continues to grow, and now provides housing to more than 23,000 families across the United States,” said Chris Manning, CEO of Peak. “The firm started with a single acquisition in 2009 and we’re now proud to have a portfolio valued at more than $2.5 billion.”
The total number of units owned by NMHC 50 top owners in 2019 surpassed 2.2 million units, representing 10.1 percent of the total U.S. apartment stock. The U.S. apartment occupancy rate stood at 95.8 percent last year, the highest rate since 2000, according to RealPage.
“Demographic shifts and preference for renting have resulted in continued strong demand and positive performance for the apartment industry,” said Caitlin Sugrue Walter, Vice President of Research for the National Multifamily Housing Council. “As is evident from the growth on this year’s builders and developers lists, the industry is continuing the pace of production to meet the needs of pent-up demand from years past. In addition, apartment transaction volume surpassed $100 billion for what’s now the seventh consecutive year.”
In addition to the NMHC 50 award, Peak’s phenomenal growth has earned it several other awards including: the Inc. 500 list of America’s fastest growing private companies, the EY Entrepreneur of the Year award in the financial services category, and the National Real Estate Investor Commercial Real Estate award.
NMHC partnered with Kingsley Associates, a leading real estate research and consulting firm, in determining rankings of the 2020 NMHC 50. Apartment owners were ranked based on their portfolio holdings as of Jan. 1, 2020. For more details about the NMHC 50, visit www.nmhc.org/The-NMHC-50.
About Peak Capital Partners
Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. www.peakcapitalpartners.com.
Dave Anderton, Anderton Group Public Relations