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National Multifamily Housing Council 2013 Annual Report

2013 — The Year in ReviewTurn to the accompanying page for more details on specific activities.

Annual Meeting3

GroundbreakingResearch

4

Spring Meeting6

PoliticalFundraising10

Fall Meeting14

EmergingLeaders16

Student Housing21

LandmarkSurvey25

Public Relations

9

Multifamily Finance

13Testimony19

Rebranding Initiative

26OpTech22

National Multifamily Housing Council 2013 Annual Report 1National Multifamily Housing Council 2013 Annual Report

The Year in Review

NMHC is where the industry’s best and brightest come together to leverage smart

decision-making and collaborative action to shape a positive future for their businesses,

the multifamily housing industry and the communities they help build.

NMHC supports this shared goal through a wide variety of activities throughout

the year—including best-in-class meetings and networking events, quality research,

advocacy, new business and technology initiatives, leadership development opportunities

and beyond.

In 2013, we raised the bar yet again. Journey back with us to see how we put our

membership dollars to work day to day, month to month, through the course of the year.

Statements of Financial Position 29NMHC Leadership 30

Executive Committee 33Board of Directors 35

New NMHC Members 42NMHC Sponsors 44

NMHC Staff 46Upcoming Meetings 48

3

A record number of apartment executives turned out once again for NMHC’s annual back-to-back ApartmentStrategies Outlook Conference and Annual Meeting, held in January and co-located at the La Quinta Resort & Club in Palm Springs, Calif. Considered the one can’t-miss industry event of the year, the meeting offered attendees a heady mix of high-level discussion of leadership, strategy, industry data and emerging businesstrends, as well as exclusive networking opportunities.

Aside from the usual deal-making, the programming yielded a number of highlights. NMHC Chairman TomBozzuto led a frank discussion with Congressman Erskine Bowles and Senator Alan Simpson, the former co-chairs of the National Commission on Fiscal Responsibility and Reform, about the complicated and concerning state of the nation's balance sheet.

Earvin “Magic” Johnson also candidly shared his experiences as a former apartment renter and pro athlete-turned-entrepreneur during a Q&A with longtime friend NMHC Vice Chairman Daryl Carter, CEO of AvanathCapital Management.

By bringing together top industry leaders, subject matter experts and some of the nation’s most provocativeand inspiring speakers, NMHC continues to uphold its reputation as the place to be for the industry’s moversand shakers.

LEFT: NMHC Chairman Tom Bozzuto (center) discusses the causes of the nation’s debt crisis with former Congressman Erskine Bowles (left)and former Senator Alan Simpson. RIGHT: Former NMHC chairmen Jeff Stack (left) and Randy Hawthorne (right) gather with fellow walkersat the start of the annual Walk for Our Troops.

Annual MeetingNMHC’s January meetings set the tone for the year ahead with a focus

on deal-making and emerging industry trends and issues.

More HappeningsWalk for Our Troops Raises $165KNMHC members contributed more than$165,000 to the Folds of Honor Founda-tion as part of the second annual Walkfor Our Troops. The money supportsmore than 30 scholarships for children of soldiers lost in the conflicts in Iraq and Afghanistan.

NMHC and NAA Renew PartnershipNMHC renewed its agreement with the National Apartment Association(NAA) to continue to operate the JointLegislative Program for another fiveyears. The two-decade partnership allows the apartment industry to have a single voice on a variety of legislativeand regulatory matters.

National Multifamily Housing Council 2013 Annual Report

4 2013 — The Year in Review

Apartments remain a positive economic force, adding value to the nation’s economy with every dollar spent bythe businesses that build and operate apartments and the people who call them home. In an attempt to quantifyand more effectively communicate that contribution to various stakeholders, in February, NMHC and industrypartner NAA released the groundbreaking economic impact report, The Trillion Dollar Apartment Industry, quantifying for the first time the economic contribution of the apartment industry and its residents.

All told, the industry and its residents contributed $1.1 trillion to the national economy and supported 25.4 million jobs.

Based on research by economist Stephen S. Fuller, Ph.D., of George Mason University’s Center for RegionalAnalysis, the report covered the economic contribution of apartment construction, operations and residentspending nationally, plus for all 50 states. In addition, select data were available for 12 metro areas: Atlanta,Boston, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, New York City, Philadelphia, Seattle and Washington, D.C.

The report filled a critical data void while serving as the foundation for a cutting-edge, interactive industrywebsite and large-scale, multimedia public relations campaign that launched later in the year.

LEFT: Greystar Real Estate Partners’ Stacy Hunt (left) offers sage career advice to young industry professionals during an Emerging LeadersSpeakers Series event in Dallas. RIGHT: Economist Stephen S. Fuller, Ph.D., gives NMHC board members a sneak peek of the results from hisreport on the economic impact of apartments.

Groundbreaking ResearchLandmark report puts a $1 trillion price tag on the value of apartments

to the national economy.

More HappeningsEmerging Leaders Speaker Series Kicks OffKicking off in February, NMHC’s Emerging Leaders group expanded itssuccessful Speaker Series program tofive cities in 2013, bringing the uniqueleadership development and networkingevents to young industry professionals in Atlanta, Chicago, Dallas, Los Angelesand Washington, D.C.


More than 300 of the apartment industry’s top executives gathered at the Four Seasons at Las Colinas in Dallas in April for NMHC’s spring business meetings, which include both the Apartment Strategies/FinanceConference and the Spring Board of Directors Meeting.

The highlight of this year’s spring meeting was an exclusive interview with former Secretary of State HillaryRodham Clinton, considered a potential front-runner for the 2016 Democratic presidential nomination.Secretary Clinton’s appearance was her first paid speaking engagement since leaving office—a fact that led to widespread media coverage of the NMHC event. In fact, an Associated Press story on the event generated22,000 headlines around the world.

Her participation in the programming also continued NMHC’s tradition of connecting members with a widespectrum of world-class thought leaders. Similarly, past speakers have included Secretary Clinton’s husbandand former President Bill Clinton, as well as members of the Bush legacy, including former Presidents GeorgeW. Bush and George H.W. Bush and former Florida Governor Jeb Bush, among numerous other influential political and business leaders.

LEFT: Bob Faith, founder and CEO of Greystar Real Estate Partners, the nation’s No. 1 apartment management firm, participates in a panel discussion on apartment markets. RIGHT: Considering a possible second run as the Democratic presidential candidate, Hillary Clinton talks candidly with NMHC Chairman Tom Bozzuto about the growing importance of rental housing during NMHC’s spring meeting.

Spring MeetingNMHC’s spring business meetings provide the exclusive experience and programming

that meet the needs of our high-caliber members.

More HappeningsThe Year’s Top 50 Owners and ManagersBoston Capital and Greystar Real EstatePartners LLC remained the nation’slargest apartment owner and manager,respectively, for the third consecutiveyear, according to the 2013 NMHC 50,the annual industry ranking of the top 50 apartment owners and managers nationwide. Collectively, the top apart-ment firms owned 2.9 million apartmentsand managed 2.8 million.

National Multifamily Housing Council 2013 Annual Report 9

Building on the research published in the landmark report, The Trillion Dollar Apartment Industry, NMHC and industry partner NAA rolled out a one-of-a-kind, integrated public relations and communications program in the spring—the first ever on behalf of the industry.

Central to the campaign was the creation of a new, info-driven, digital experience at www.WeAreApartments.org.The site opened with a unique, interactive infographic that educated users about all facets of the apartmentindustry. In addition, the site featured a number of new tools to enhance advocacy efforts, including a video,an interactive map that allowed users to drill down into the economic impact of apartments by state or selectmetro areas and an innovative economic impact calculator that tallies the impact of any number of new or existing apartments based on location.

The pro-apartment campaign and website generated more than 150 news stories and earned multiple designand video awards and a case study feature in PR Week. In addition, against competition from perennial public relations heavy hitters like the insurance and airline industries, the campaign won national recognition fromPR Daily for Best Use of the Internet or Digital Tools and Best Website and from PR News for both the 2013Public Affairs Campaign and New Site Launch of the Year awards.

LEFT: The Laramar Group’s Keith Harris and The Bozzuto Group’s Julie Smith look over the new policy brochure, a key piece in NMHC andNAA’s joint public relations campaign.

Public RelationsNMHC and NAA launch large-scale, multimedia public relations campaign

to showcase apartments’ economic benefits to communities nationwide.

By the NumbersWeAreApartments.org continues tobe a useful industry resource. On anaverage day in 2013, the site saw:

127site visits

240 page views

29 economic impactcalculator uses

11 report and resource downloads


As Congress continues to debate legislation that directly affects not only NMHC member companies but also the lives of the 35 million Americans who live in apartment communities, NMHC PAC has become a critical advocacy tool.

NMHC PAC relies on voluntary contributions from eligible NMHC member companies and their employees tofund political engagement and educational activities. NMHC PAC dollars are contributed to federal politicalcampaigns and political parties to help support the apartment industry’s legislative goals, educate Congressabout multifamily housing issues and encourage participation in the political process.

With leadership from NMHC PAC Chairman David Neithercut, CEO of Equity Residential, NMHC PAC onceagain surpassed its fundraising goal. In 2013, 1,872 employees from 186 NMHC member firms and NMHCstaff contributed $1,360,982 to NMHC PAC and the Smarter Living Fund. These contributions helped support168 congressional campaigns and 122 leadership PACs and party committees

NMHC thanks all contributors for their generous support and encourages more participation going forward.

LEFT: Holland Partners CEO Clyde Holland (right) introduces California Congressman Kevin McCarthy during an NMHC board of directorsluncheon. RIGHT: An NMHC contingent visits Texas Congressman Randy Neugebauer at his office on Capitol Hill.

Political Fundraising NMHC’s Political Action Committee (PAC) again raises record contributions

to support lawmakers who understand the industry’s issues.

More HappeningsMembers Host FundraisersIn addition to supporting NMHC PAC, industry leaders organized fundraisingevents for several lawmakers. In March,NMHC Treasurer Sue Ansel held anevent at her home in Dallas for House Financial Services Committee ChairmanJeb Hensarling (R-Texas). In the fall, Holland Partners CEO Clyde Hollandhosted a similar event in Seattle to benefitCongressman Kevin McCarthy (R-Calif.).Other co-hosted events were held inChicago and Washington, D.C.

Top PAC ContributorsThe top five firms for employee contributions to NMHC PAC in 2013 were Marcus & Millichap/InstitutionalProperty Advisors (IPA) ($101,489), Equity Residential ($70,824), CBRE($55,450), BRE Properties, Inc. ($45,250)and Holland Partner Group ($43,750).

The stymied debate over what to do with mortgage giants Fannie Mae and Freddie Mac continued in 2013, but lawmakers ultimately put ink to paper over the summer, drafting two housing finance reform bills.In June, a group of bipartisan senators led by Mark Warner (D-Va.) and Bob Corker (R-Tenn.) introducedlegislation to address wholesale government-sponsored enterprise (GSE) reform while preserving the multifamily lending programs that exist today and retaining a federal guarantee. House Financial ServicesCommittee Chairman Jeb Hensarling (R-Texas) also shepherded a Republican-backed bill out of committeein July. The plan would definitively wind down government support for housing and reshape the role of theFederal Housing Agency.

While the new bills reflect progress in the debate, the absence of meaningful, legislative resolution on the future of the two GSEs led the Federal Housing Finance Agency (FHFA) to initiate some significant regulatoryactions. Most noteworthy for the apartment industry was a mandate to reduce Fannie and Freddie’s multi-family lending by a minimum of 10 percent in 2013.

With credit availability remaining a key concern, NMHC continues to engage all policymakers in their pursuitsof a quality GSE reform solution—one that we expect maintains mortgage liquidity for the multifamily industry,ensuring we can build the 300,000 new apartments needed each year.

LEFT: NMHC PAC Chairman David Neithercut (left) greets Senators Bob Corker (middle) and Mark Warner, co-sponsors of a bipartisanhousing finance reform bill.

Multifamily FinanceNMHC continues to engage policymakers in crafting a long-term housing finance

reform solution that maintains liquidity in the multifamily market.

More HappeningsNMHC Responds to FHFAIn reaction to FHFA’s August call forpublic input on strategies for further reducing GSE lending in 2014, NMHC initiated a letter-writing campaign to engage FHFA in finding minimally disruptive solutions to issues in thehousing finance market. NMHC membercompanies joined more than 65 enterprisesin submitting comments to the agency.

Finance Talks at the White HouseIn the fall, NMHC representatives wereinvited on two occasions to meet withthe Obama Administration at the WhiteHouse to discuss housing finance-relatedissues, including Congressman MelWatt’s (D-N.C.) nomination as the director of the GSEs’ regulator, FHFA.


As Congress struggled to come to consensus in 2013, a number of issues important to the apartment industryhung in the balance. Given this backdrop, NMHC’s Fall Board of Directors Meeting, held in September inNMHC’s hometown of Washington, D.C., focused on creating opportunities for NMHC members to engage with key lawmakers on a whole host of topics.

More than 300 NMHC Board of Directors and Advisory Committee members gathered for the multiday event that fostered constructive dialogue between the industry’s leaders and key policymakers. On tapwere lawmakers from both sides of the political aisle, each addressing issues of importance for the apartment industry. Congressman Joe Crowley (D-N.Y.) spoke with members about insurance issues and specificallypointed to the need to renew the Terrorism Risk Insurance Act (TRIA). Congressman Kevin McCarthy (R-Calif.), on the other hand, highlighted the need to address failures in the current immigration system. Congresswoman Shelley Capito (R-W.V.) expressed concern over what she called “regulatory overreach” and a slew of new banking regulations, while Senator Johnny Isakson (R-Ga.) focused on tax reform.

However, housing finance reform remained the hottest topic of debate. Congresswoman Maxine Waters (D-Calif.) underscored the need for a bipartisan solution, while Senators Bob Corker (R-Tenn.) and MarkWarner (D-Va.) talked in depth about their own bipartisan housing finance reform bill, encouraging NMHCmembers to work with them to add detail to some of the provisions relating to multifamily mortgage finance.

LEFT: Jeb Hensarling (far right), chairman of the House Financial Services Committee, greets GID’s Bob DeWitt and several other NMHC representatives during an office visit. RIGHT: NMHC Vice Chairman Daryl Carter shares some information with Congresswoman Maxine Waters, ranking member of the House Financial Services Committee.

Fall MeetingNMHC’s Fall Board of Directors Meeting focuses on emerging legislative

and regulatory issues and encourages industry dialogue with key policymakers.

More HappeningsA Chat with the ChairmanDuring the fall business meeting, anNMHC leadership team, including GablesResidential’s Sue Ansel, Avanath CapitalManagement’s Daryl Carter, GID’s Bob DeWitt and CBRE’s Peter Donovan, paid Congressman Jeb Hensarling (R-Texas) an office visit in a continuedattempt to work with him on housing finance reform.

Supplier Partner AllianceThis committee intends to bring the industry’s product manufacturers, suppliers and service providers togetherwith leading apartment executives toidentify and develop creative solutionsfor some of the industry’s biggest needs.The committee meets twice a year and isopen to NMHC supplier members.


Building on its achievements with every step, NMHC’s Emerging Leaders program again delivered on its ambitious goals in 2013. Led by a 15-member committee, the program provides leadership access, educationand networking opportunities for the industry’s rising stars and is open to any under-40 apartment profes-sional who has at least five years of industry experience and is employed by an NMHC member firm.

The special Emerging Leaders registration program for NMHC’s Annual Meeting sold out again this year. More than 150 NMHC firms took advantage of the unique registration option that allows them one additionalslot at the NMHC Annual Meeting for a young up-and-comer in their company.

The group also continued its successful Speaker Series events in five cities. These exclusive events featured industry leaders engaging with young professionals in an intimate, fireside chat format. Participating executivesincluded Daryl Carter of Avanath Capital Management, Steven Fifield of Fifield Companies, Clyde Hollandof Holland Partners, Stacy Hunt of Greystar, Gary Kachadurian of ARA, Tom Moran of Moran & Company,Greg Mutz of AMLI Residential and Dave Stockert of Post Properties.

Emerging Leaders committee members also challenged themselves to further develop their NMHC ties bysigning on as special liaisons to NMHC’s wide range of committees and also growing contributions to NMHC’sPolitical Action Committee (PAC). In addition, they focused on growing group membership through onlinecommunications, social media and pop-up regional networking events.

LEFT: NMHC members discuss an array of talent management topics during facilitated roundtable discussions at NMHC’s OpTech.RIGHT: Holland Partners CEO Clyde Holland (left) talks with Walker & Dunlop’s Michael Darling about key points in his career during an Emerging Leaders Speaker Series event in Washington, D.C.

Emerging LeadersNMHC continues to grow professional development opportunities for the industry’s

next generation of leaders.

More HappeningsTools for Talent ManagementA key to attracting and retaining talent is having a compelling compensationpackage. In August, NMHC published its annual compensation report in partnership with Towers Watson. Morethan 100 member firms contributed to this year’s report, providing criticalsalary, benefit and turnover data and establishing benchmarks to help members stay competitive in the talent market.



With debate raging around myriad legislative and regulatory issues with ramifications for the apartment industry, NMHC amped up its presence on Capitol Hill in 2013 through participation in a number of importanthearings.

In April, on behalf of NMHC and industry partner NAA, Thomas Moran, chairman and managing partner ofMoran & Company, testified in front of the House Ways and Means Committee on the subject of tax reformand residential real estate. Then in June, NMHC Chairman Tom Bozzuto, chairman and CEO of The BozzutoGroup, testified before a House Committee on Energy and Commerce subcommittee on how apartments spurthe economy and stimulate manufacturing.

However, NMHC met with an even bigger opportunity in the fall, when we were invited to participate in a Senate Committee on Banking, Housing and Urban Affairs hearing on multifamily housing finance reform.Given the degree of uncertainty around the future of government-backed Fannie Mae and Freddie Mac, bothsignificant sources of mortgage capital for the apartment industry, NMHC’s voice in the discussion was crucial.

“Private capital should bear the principal risk to protect taxpayers, but history has shown that private capitalis unwilling or unable to meet the full financing needs of the multifamily sector, including the $100 billion inmortgages that need to be refinanced each year,” said Bozzuto, who represented NMHC at the hearing.

LEFT: NMHC Chairman Tom Bozzuto represents the apartment industry during a Senate Banking Committee hearing on multifamily housing finance reform.

TestimonyNMHC participates in a number of important congressional hearings on topics

from tax to housing finance.

Legislative AgendaNMHC’s advocacy efforts are focused in a number of key areas:

• Housing finance

• Tax reform

• HUD policy

• FHA programs

• Immigration

• Insurance

• Environmental regulation

• Energy efficiency

• Building codes

Student housing has come a long way since its humble beginnings, successfully shedding its Animal Houseimage and earning a reputation on Wall Street as a veritable asset class. NMHC has long supported this growing part of the apartment business. These historical ties to the sector were strengthened in 2013 withmore high-quality leadership, programming and research.

The 11th annual NMHC Student Housing Conference & Exposition, held in New Orleans in the fall, attracted a record number of student housing providers, financiers, suppliers and service providers for three days of educational programming, product exhibits and networking. Held right after the beginning of the new schoolyear, the conference offered attendees a pulse check on the lease-up season as well as new development andmanagement trends.

Despite the sector’s impressive growth, key operational differences between student housing and traditionalapartments have limited the data available to student housing lenders, investors and practitioners to bench-mark performance. To help fill that void, NMHC publishes an annual Off-Campus Student Housing Income and Expense Benchmarking Survey. The 2013 edition further expanded on previous years’ efforts, providingdetailed financial line-item data from 462 student housing properties with 258,703 beds in 37 states.

LEFT: Campus Apartments’ David Adelman (far left) preps (left to right) The Dinerstein Companies’ Brian Dinerstein, EdR’s Randy Churcheyand American Campus Communities’ Bill Bayless for a conference presentation. RIGHT: Collier Companies’ Andy Hogshead discusses theyoung adult market during a general session at the student housing conference.

Student HousingNMHC provides matchless research and resources to support

the growing student housing sector.

More Happenings40-Under-40 Group FormedSimilar to the Emerging Leaders program,NMHC established a new program tomentor up-and-coming student housingleaders. Andy Hogshead, CEO of CollierCompanies, heads up the group with assistance from Bob Clark, president of Peak Campus Apartments.

Industry Responds to White House ChallengeIn August, several NMHC member firmsjoined a roundtable discussion at theWhite House to talk about extending theObama Administration’s Better BuildingChallenge to the multifamily sector. Thisindustry input was integral to the launchof the program in December. A number ofNMHC members have joined the programchallenge to reduce their energy use by20 percent over the next decade.



It was another record-breaking year for NMHC’s Multifamily Business Operations and Technology Conference & Exposition (OpTech), as industry leaders gathered in Dallas in November to explore the latest business trendsand technologies influencing the operation and management of apartment communities and companies. From business intelligence to top marketing trends and emerging technologies, attendees shared high-levelinsight and resources on the technology tools, resources and tactics they’re using to make smarter businessdecisions.

In addition to three days of educational programming and a vibrant product and services marketplace featuringnearly 80 leading business solutions and new technology suppliers, OpTech included a number of uniquecomponents in 2013. Chief among them were a sneak peek at the results of a landmark apartment residentpreferences survey, a discussion of takeaways from a new white paper on the issue of music licensing and new technology integration roundtables and workshops.

Also new to OpTech this year was a one-of-a-kind reverse trade show floor experience. At the “CommerceCorner,” exhibitors had a chance to have brief, face-to-face meetings with key decision-makers at some of thenation’s top apartment firms. Twenty-nine exhibitors reserved meetings with executives from 17 participatingfirms, raising a total of $12,000 to benefit Ride2Recovery, the charity of choice for the 2014 NMHC Walk forOur Troops.

LEFT: Pinnacle Family of Companies’ Rick Graf (far left), Camden’s Kristy Simonette and UDR’s Scott Wesso discuss the strengths and weaknesses of the presentations during this year’s LaunchPad technology competition. RIGHT: OpTech attendees walk through a product demo from one of OpTech’s exhibitors.

OpTechThe annual operations and technology conference remains at the forefront

of emerging business, data and technology trends.

More HappeningsTough Launch Pad CompetitionBack by popular demand, NMHC’s 2013OpTech concluded with the second an-nual Launch Pad multifamily technologycompetition. This year’s panel of toughapartment industry executives selectedInfoTycoon, with its mobile asset lifecyclemanagement tool, as the Launch Pad winner. However, conference attendeesvoted to give the People’s Choice Awardto ButterflyMX for its real-time, two-way,audio-video building access mobile app.

Go-To Guide for Music LicensingIn response to rising industry confusionover when and how music licensing applies to apartment communities, NMHCdeveloped a white paper outlining the basics of copyright and music licensingprinciples to help multifamily firms betternavigate the issue’s complexities.


In 2013, NMHC partnered with research firm Kingsley Associates to launch a landmark apartment residentpreferences survey, marking the most comprehensive study of its kind to date. The report underscoresNMHC’s commitment to provide proprietary data analysis and fill critical information voids, offering invaluableinsight for the multifamily industry on just what our residents value in the apartment homes our industrybuilds, owns and manages.

The study surveyed residents from 12 industry-leading multifamily firms who collectively own and/or operate more than 550,000 units across the United States. The nearly 15,000 resident responses coveredtop apartment features, community amenities, pet-specific features, online communications and propertymanagement perceptions, among other areas.

Survey results showed that when it came to apartment features the top three must-have features were high-speed Internet access, patio or balcony and washer/dryer in unit. However, the data also yielded some surpriseresults in the areas of service request response times; online rent payments and lease renewals; and social media.

Attendees of NMHC’s 2013 OpTech got a sneak peek of the initial survey results, and the final report was released for purchase in December. Also included in the full report was market-specific information for 22 metro areas, as well as data segmented by age, income, apartment class and other demographic variables.

LEFT: Kingsley Associates’ David Smith (far left) discusses results of the resident preferences survey with (left to right) Bell Partners’ KevinThompson, BRE Properties’ John Selindh and Lincoln Property Company’s Jennifer Staciokas. RIGHT: MPF Research’s Greg Willett digs intochanging apartment market dynamics during a panel discussion of this recurring hot-button topic.

Landmark SurveyNMHC releases results of first-ever, large-scale survey of apartment residents

to determine the apartment features, amenities and services residents value most.

More HappeningsApartment Markets ShiftNMHC’s Quarterly Survey of Market Con-ditions showed that after four years ofalmost continuous improvement acrossfour main indicators—market tightness,sales volume, equity financing and debtfinancing—the apartment industryshifted into neutral in the third quarterof 2013, suggesting that while industryfundamentals remain strong, growthrates may temper. The survey provides areliable finger on the pulse of the industryand offers first-reads on emerging trendsin areas such as new development activityand construction costs.

NMHC’s roots date back to 1978, when a small group of industry legends, including Sam Zell, Preston Butcherand Trammell Crow, formed an organization to fight rent control. Since then, the apartment industry hasevolved dramatically from a loose collection of mom-and-pop shops to an organized group of sophisticatedenterprises. In response, NMHC has also grown, expanding beyond advocacy into research, events, public relations and more.

To better bridge the gap between who we were 36 years ago and what we do today, the better part of 2013was dedicated to a large-scale rebranding initiative. We engaged leading branding firms and reached out to all levels of our membership with surveys, in-depth interviews and workshops to help us better bring ourvalue to the surface.

This exercise led to several key changes, including a new logo, a small but important name change and a newtagline—all to reinforce NMHC’s long-held reputation as the premier apartment organization. The final resultswere revealed at the 2014 Annual Meeting and the rollout continues throughout the year, with a complete revamp of the NMHC.org website, the launch of new newsletters and an update to many of the services weprovide to better meet members’ needs.

LEFT: Avanath Capital Management CEO Daryl Carter is elected to serve a two-year term as NMHC’s chairman. RIGHT: Following nearly ayear of stakeholder research and collaboration, the new NMHC logo was revealed at the 2014 Annual Meeting.

Rebranding InitiativeNMHC seizes on the opportunity to take a leap to our next level of performance

and success with an organization-wide rebranding.

More HappeningsNew Leadership Elected2013 marked the final year of The Bozzuto Group’s Tom Bozzuto’s tenureas NMHC chairman. NMHC thanks himfor his expert guidance and leadershipover the years.

NMHC elected Daryl J. Carter, founder,chairman and CEO of Avanath CapitalManagement, LLC, as Bozzuto’s successorand also announced the appointment of new officers. GID’s Bob DeWitt willserve as NMHC vice chairman, GablesResidential’s Sue Ansel as treasurer andWaterton Associates’ David Schwartzas secretary.


July 1, 2011 - June 30, 2012(Audited)

$ 1,822,6416,859,044

8,681,685

709,009(619,435)

89,574

14,676

14,676

$ 8,785,935

$ 18,58541,070

59,655

7,807,447918,833

8,726,280

$ 8,785,935

ASSETSCash and Investments Cash Investments, at cost

Total Cash and Investments

Fixed Assets Furniture and Equipment, at cost Less: Accumulated Depreciation

Total Fixed Assets, Net

Other Assets Security Deposit

Total Other Assets

Total Assets

LIABILITIES AND UNRESTRICTED NET ASSETSLiabilities Lease Payable – Copiers Refundable Advances – CITF

Total Liabilities

Unrestricted Net Assets Unrestricted Net Assets - Beginning Current Year Increase/(Decrease)

Total Unrestricted Net Assets

Total Liabilities and Unrestricted Net Assets

Statements of Financial Position

NMHC members and employees are encouraged to report suspected violations of the law, violations ofNMHC policies and procedures, dishonest or unethicalbehavior, crimes or improper business activities toNMHC’s Senior Vice President of Finance and Admin-istration or through Report Line at 877/888-0002 orwww.tnwinc.com/webreport. From time to time, theBoard may change the process by which members oremployees may communicate such reports. Employeeswill be notified of changes by internal communications.Members should check the NMHC website for anychanges to the reporting process.

The Audit Committee shall ensure that employees may report suspected violations anonymously in accordance with local, state and federal WhistleblowerStatutes and Employee Protection Ordinances. Employees will not be subject to any penalties or retribution for reporting suspected violations in good faith.

NMHC Audit Committee (2012-2013)Robert E. DeWitt (Chair)GID, Boston, MA

Grace HuebscherBeech Street Capital, Bethesda, MD

Richard L. KadishCAPREIT, Inc., Rockville, MD

July 1, 2012 - June 30, 2013(Audited)

$ 1,378,485 7,335,813

8,714,298

636,626 (549,548)

87,078

14,676

14,676

$ 8,816,052

$ 36,080 41,110

77,190

8,726,280 12,582

8,738,862

$ 8,816,052

29

LEFT: Former NBA star Earvin “Magic” Johnson greets NMHC member andfan Toby Bozzuto of The Bozzuto Group, along with NMHC’s leadership team.

30 2014–2015 NMHC Leadership

AuditSue Ansel (Chair)Gables ResidentialDallas, TX

Vice ChairmanRobert E. DeWittGIDBoston, MA

DiversityAlbert Berriz (Co-Chair)McKinleyAnn Arbor, MI

TreasurerSue AnselGables ResidentialDallas, TX

DiversityJulie A. Smith (Co-Chair) Bozzuto Management CompanyGreenbelt, MD

SecretaryDavid SchwartzWaterton AssociatesChicago, IL

Emerging LeadersMichael Darling (Chair) Walker & DunlopNeedham, MA

PresidentDouglas M. BibbyNational Multifamily Housing CouncilWashington, DC

Emerging LeadersMaxwell Peek (Vice Chair) Waterton ResidentialChicago, IL

Immediate Past ChairmanThomas S. BozzutoThe Bozzuto GroupGreenbelt, MD

Officers

Committee Leadership

ChairmanDaryl J. CarterAvanath Capital Management, LLCIrvine, CA


FinanceKeith Harris (Chair)The Laramar Group, LLCChicago, IL

FinanceMark Parrell (Vice Chair)Equity ResidentialChicago, IL

InvestmentDawn Severt (Chair) Gables Residential TrustAtlanta, GA

Joint LegislativeSue Ansel (Co-Chair)Gables ResidentialDallas, TX

Emerging LeadersJennifer Staciokas (Vice Chair)Lincoln Property CompanyDallas, TX

Marketing and Brand ManagementKristy SImonette (Chair)Camden PropertiesHouston, TX

MembershipRick Graf (Chair)PinnacleDallas, TX

Marketing and Brand ManagementJennifer Staciokas (Vice Chair)Lincoln Property CompanyDallas, TX

Committee Leadership (cont.)

OperatingDaryl J. Carter (Chair)Avanath Capital Management, LLCIrvine, CA

OpTech PlanningScott Wilder (Chair)Lincoln Property Company Dallas, TX

OpTech PlanningGreg O’Berry (Vice Chair)JVM Realty Corporation Oak Brook, IL

OpTech PlanningGreg Lozinak (Vice Chair)Waterton Associates, LLC Chicago, IL

Political ActionRobert E. DeWitt (Vice Chair) GIDBoston, MA

Political ActionPeter F. Donovan (Chair)CBRE Boston, MA

32 2013 NMHC Leadership

ResearchJay Lybik (Chair)Equity ResidentialChicago, IL

ResearchAnn Kovach (Vice Chair) BRE Properties, Inc.Irvine, CA

Student HousingWilliam Bayless (Chair)American Campus CommunitiesAustin, TX

Committee Leadership (cont.)

Student HousingDonna Preiss (Vice Chair)The Preiss CompaniesRaleigh, NC

Supplier Partner AllianceLarry Bellack (Chair)Rainmaker LROAlpharetta, GA

Systems Technology and Information ManagementErik Rogers (Chair) Carmel PartnersDenver, CO

Systems Technology and Information ManagementRichard Brennan (Vice Chair) AIMCODenver, CO

TaxMike McDougal (Chair) McDougal Properties, LCLubbock, TX

TaxMaxwell Peek (Vice Chair) Waterton ResidentialChicago, IL

Telecommunications and Building TechnologyLori Reeves (Chair) Forest City Residential ManagementCleveland, OH

Telecommunications and Building TechnologyCheryl Barraco (Vice Chair) AvalonBay CommunitiesSan Diego, CA

Debt Financing SubcommitteeMona Carlton (Chair)HHFDallas, TX

Equity Investment SubcommitteeAdam Fruitbine (Chair)Alliance Residential CompanyNew York, NY

332013 Executive Committee

Patti FieldingAimcoDenver, CO

Patti ShwayderAimcoDenver, CO

James M. KrohnAlliance Residential CompanyPhoenix, AZ

Bruce C. WardAlliance Residential CompanyPhoenix, AZ

William C. Bayless, Jr.American Campus CommunitiesAustin, TX

Jason WillsAmerican Campus CommunitiesAustin, TX

Marc E. deBaptisteARABoca Raton, FL

Gary T. KachadurianARAHinsdale, IL

Sean J. BreslinAvalonBay Communities, Inc.Arlington, VA

Timothy J. NaughtonAvalonBay Communities, Inc.Arlington, VA

Daryl J. CarterAvanath Capital ManagementIrvine, CA

John WilliamsAvanath Capital ManagementIrvine, CA

Tom KeadyThe Bainbridge CompaniesCary, NC

Richard SchechterThe Bainbridge CompaniesWellington, FL

Jonathan D. BellBell PartnersGreensboro, NC

Lili F. DunnBell PartnersAlexandria, VA

Alan KingBerkshire Property AdvisorsAlpharetta, GA

David J. OlneyBerkshire Property AdvisorsBoston, MA

Thomas S. BozzutoThe Bozzuto GroupGreenbelt, MD

Julie A. SmithBozzuto Management CompanyGreenbelt, MD

Laurie A. BakerCamden Property TrustHouston, TX

Keith OdenCamden Property TrustHouston, TX

Christopher BedaCarmel Partners, Inc.San Francisco, CA

Ron ZeffCarmel Partners, Inc.San Francisco, CA

Peter F. DonovanCBREBoston, MA

Brian F. StoffersCBRE Capital MarketsHouston, TX

William T. HymanCenterline Capital GroupNew York, NY

John LarsonCenterline Capital GroupDallas, TX

C. Stephen CordesClarion PartnersNew York, NY

Robert D. Greer, Jr.Clarion PartnersWashington, DC

Nathan S. CollierThe Collier CompaniesGainesville, FL

J. Andrew HogsheadThe Collier CompaniesGainesville, FL

Paul G. KerrDavlyn InvestmentsSan Diego, CA

Jon D. WilliamsDavlyn InvestmentsSan Diego, CA

Alan W. GeorgeEquity ResidentialChicago, IL

David SanteeEquity ResidentialChicago, IL

Susanne HiegelFannie MaeWashington, DC

Manuel MenendezFannie MaeWashington, DC

Deborah Ratner-SalzbergForest City Enterprises, Inc.Washington, DC

Ronald A. RatnerForest City Residential Group, Inc.Cleveland, OH

David BrickmanFreddie MacMc Lean, VA

John M. CannonFreddie MacNew York, NY

Susan AnselGables ResidentialDallas, TX

Dawn SevertGables Residential TrustAtlanta, GA

Robert E. DeWittGIDBoston, MA

Stacy G. HuntGreystar Real Estate

Partners, LLCHouston, TX

William C. MadduxGreystar Real Estate Partners, LLCCharleston, SC

Laura A. BeuerleinHeritage Title Company

of Austin, Inc.Austin, TX

Gary S. FarmerHeritage Title Company

of Austin, Inc.Austin, TX

Mona Keeter CarltonHFFDallas, TX

Matthew LawtonHFFChicago, IL

Clyde P. HollandHolland Partner GroupVancouver, WA

Hessam NadjiInstitutional Property Advisors,

a Marcus & Millichap CompanyWalnut Creek, CA

Guy K. JohnsonJohnson CapitalLas Vegas, NV


Darren ListerJohnson CapitalLas Vegas, NV

Jeffrey T. MorrisJones Lang LaSalle Americas, Inc.Orlando, FL

Jubeen F. VaghefiJones Lang LaSalle Americas, Inc.Miami, FL

James H. CallardKlingbeil Capital Management/American Apartment CommunitiesAnnapolis, MD

Kristen Klingbeil-WeisKlingbeil Capital Management/American Apartment CommunitiesSanta Barbara, CA

Guy K. HaysLegacy PartnersFoster City, CA

W. Dean HenryLegacy Partners Residential, Inc.Foster City, CA

Brian C. ByrneLincoln Property CompanyOak Brook, IL

Jeff B. FranzenLincoln Property CompanyHerndon, VA

H. Eric Bolton, Jr.MAAMemphis, TN

Albert M. Campbell, IIIMAAMemphis, TN

Executive Committee (cont.)

NMHC's annual Walk for Our Troops continues to be a welcome addition tothe Annual Meeting program with members raising more than $165,000 tobenefit soldiers and their families.

John J. KerinMarcus & MillichapCalabasas, CA

Charles R. Brindell, Jr.Mill Creek Residential Trust LLCDallas, TX

Mary Ann KingMoran & CompanyIrvine, CA

Thomas F. MoranMoran & CompanyChicago, IL

Kerry R. FrenchNorthMarq Capital, Inc.Houston, TX

Eduardo PadillaNorthMarq Capital, Inc.Minneapolis, MN

Rick GrafPinnacleAddison, TX

Stan J. HarrelsonPinnacleSeattle, WA

David P. StockertPost Properties, Inc.Atlanta, GA

Jamie TeaboPost Properties, Inc.Atlanta, GA

David DurningPrudential Mortgage

Capital CompanyChicago, IL

Terry S. DannerRiverstone Residential GroupDallas, TX

Michael BissellSARES•REGIS GroupIrvine, CA

Geoffrey L. StackSARES•REGIS GroupIrvine, CA

Timothy J. HoganTrammell Crow ResidentialDallas, TX

Kenneth J. ValachTrammell Crow ResidentialHouston, TX

Michael E. TompkinsTriBridge Residential LLC.Atlanta, GA

Harry AlcockUDR, Inc.Highlands Ranch, CO

Warren L. TroupeUDR, Inc.Highlands Ranch, CO

David R. SchwartzWaterton Associates, L.L.C.Chicago, IL

Gregory J. LozinakWaterton ResidentialChicago, IL

Vincent R. ToyeWells Fargo Multifamily CapitalNew York, NY

Alan WienerWells Fargo Multifamily CapitalNew York, NY

Frank MiddletonWood Partners, LLCMill Valley, CA

Curtis W. WalkerWood Partners, LLCAtlanta, GA

35

Jay BlasbergAcre Capital LLCTucson, AZ

Toshi MatsushitaAcre Capital LLCTucson, AZ

Jeffery DanielsAIG Global Real Estate

Investment Corp.New York, NY

Donald HuffnerAIG Global Real Estate

Investment Corp.New York, NY

Tim L. MyersAllied RealtyHouston, TX

Ricardo RivasAllied RealtyHouston, TX

Joel L. AltmanAltman Development CorporationBoca Raton, FL

Jeffery A. RobertsAltman Development CorporationBoca Raton, FL

Michael H. GodwinAmbling Management Company LLCValdosta, GA

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

Lauren A. BrockmanAnbrock, LLCDenver, CO

Judy BellackApartment GuideBoca Raton, FL

Arlene MayfieldApartment GuideNorcross, GA

Dick BurkeApartments.comChicago, IL

Brad LongApartments.comChicago, IL

Blake OklandARACharlotte, NC

Thomas P. MacManusARA Finance, LLCBoca Raton, FL

Lisa A. RobinsonARAAtlanta, GA

Bonnie HabyanArbor Commercial Mortgage, LLCUniondale, NY

Erica MileoArbor Commercial Mortgage, LLCUniondale, NY

Brian EarleAres ManagementNew York, NY

Steven WolfAres ManagementNew York, NY

Morgan AndersonArthur J. Gallagher & Co.Irvine, CA

Alexandra GlickmanArthur J. Gallagher & Co.Glendale, CA

Jason A. FriedmanAssociated Estates Realty

CorporationRichmond Heights, OH

Jeffrey I. FriedmanAssociated Estates Realty

CorporationRichmond Heights, OH

Lin AtkinsonAT&T Connected CommunitiesAtlanta, GA

Thuy WoodallAT&T Connected CommunitiesMilton, GA

David CarpenterAUMElmhurst, IL

Michael G. MillerAUMLombard, IL

Scott DoyleAvesta CommunitiesTampa, FL

Denise MoralesAvesta CommunitiesTampa, FL

Phillip E. BoguckiAZUMA LeasingAustin, TX

Bj RosowAZUMA LeasingAustin, TX

Morton P. Fisher, Jr.Ballard SpahrBaltimore, MD

Allan R. WinnBallard SpahrWashington, DC

Grace HuebscherBeech Street CapitalBethesda, MD

Jeff LeeBeech Street CapitalBethesda, MD

Bob LaneBeecher CarlsonAtlanta, GA

Michael SternBeecher CarlsonAtlanta, GA

Robert S. AisnerBehringer Harvard Multifamily REIT IAddison, TX

Mark AlfieriBehringer Harvard Multifamily REIT IAddison, TX

Frank LutzBerkadiaHorsham, PA

Karl H. ReinleinBerkadiaHorsham, PA

Jeffrey C. DayBerkeley Point Capital LLCBethesda, MD

Jim McDevittBerkeley Point Capital LLCBethesda, MD

Dwight D. Dunton, IIIBonaventure Realty Group, LLCArlington, VA

Mark W. DunneBoston Capital CorporationBoston, MA

John P. ManningBoston Capital CorporationBoston, MA

Danuel R. StangerBridge Investment Group PartnersMurray, UT

2013 Board of Directors


Christian V. YoungBridge Investment Group PartnersMurray, UT

Barden BrownBrown Realty AdvisorsAtlanta, GA

Walter W. MillerBrown Realty AdvisorsAtlanta, GA

Josh MandellBSR TrustLittle Rock, AR

Daniel M. ObersteBSR TrustLittle Rock, AR

James B. KnightBury+Partners, Inc.Dallas, TX

Nick MoulinetBury+Partners, Inc.Dallas, TX

B. Diane ButlerButler Burgher GroupDallas, TX

Kyle LewallenButler Burgher GroupAustin, TX

Jeffrey CaganCagan Management Group, Inc.Skokie, IL

David J. AdelmanCampus ApartmentsPhiladelphia, PA

Miles H. OrthCampus ApartmentsPhiladelphia, PA

Michael HartnettCampus Crest CommunitiesCharlotte, NC

Ted RollinsCampus Crest CommunitiesCharlotte, NC

Michael MayCantor Commercial Real Estate

(CCRE)Bethesda, MD

Anthony OrsoCantor Commercial Real Estate

(CCRE)New York, NY

Richard LyonCapital One BankNew York, NY

Ernest L. HeymannCAPREIT, Inc.Rockville, MD

Richard L. KadishCAPREIT, Inc.Rockville, MD

L. Marc CarterCarter Haston Holdings, LLCNashville, TN

Harris HastonCarter Haston Holdings, LLCNashville, TN

Tyler AndersonCBREPhoenix, AZ

DeAnna ThomasCBRE Global Investors, LLCBoston, MA

Stephen J. ZaleskiCBRE Global Investors, LLCBoston, MA

Brooks CastellawCF Lane LLCAtlanta, GA

Dan HaefnerCF Lane LLCAtlanta, GA

Richard GerwitzCiti Community CapitalLos Angeles, CA

Rick CraigCity Street Residential PartnersHouston, TX

John CutrerCityStreet Residential PartnersHouston, TX

David A. KesslerCohnReznick LLPAtlanta, GA

Josh McCabeCohnReznick LLPAtlanta, GA

Mark J. FeldmanColliers InternationalSan Francisco, CA

Cynthia CookeColliers InternationalPhoenix, AZ

Patrick NugentCommercial Insurance

Solutions GroupDallas, TX

Justin TrailCommercial Insurance

Solutions GroupDallas, TX

David B. WoodwardCompassRock Real Estate LLCDenver, CO

Daniel J. EpsteinThe ConAm Group of CompaniesSan Diego, CA

Charles E. Mueller, Jr.The ConAm Group of CompaniesSan Diego, CA

Jerry DavisConservice Utility Management

& BillingProsper, TX

Stewart HsuConti OrganizationAddison, TX

Carlos P. VazConti OrganizationAddison, TX

Jason RosaContinental Realty Advisors, Ltd.Littleton, CO

David W. SnyderContinental Realty Advisors, Ltd.Littleton, CO

James W. HarrisCoreLogic SafeRentRockville, MD

Pam StormCoreLogic SafeRentNorcross, GA

James HendersonCornerstone Real Estate

Advisers LLCHartford, CT

Michael CohenCoStarBoston, MA

Mark KlionskyCoStarWashington, DC

Marc D. GoldsteinCovington Development, LLCSaint Louis, MO

Benjamin CollinsCrescent CommunitiesCharlotte, NC

Brian NatwickCrescent CommunitiesCharlotte, NC

Dodge CarterCrow Holdings Capital Partners, LLCDallas, TX

Steven WeilbachCushman & WakefieldSan Francisco, CA

Byron L. MogerCushman & WakefieldTampa, FL

Board of Directors (cont.)


Roy E. Demmon, IIIDemmon PartnersRedwood City, CA

Thomas WalshDemmon PartnersRedwood City, CA

John CaltagironeThe Dinerstein CompaniesHouston, TX

Brian L. DinersteinThe Dinerstein CompaniesHouston, TX

Robert GroszDish NetworkEnglewood, CO

Brian SpencerDish NetworkEnglewood, CO

Andrew K. DolbenThe Dolben Company, Inc.Woburn, MA

Deane H. DolbenThe Dolben Company, Inc.Woburn, MA

Adam C. BreenDRA Advisors, LLCNew York, NY

David LuskiDRA Advisors, LLCNew York, NY

Wendy DruckerDrucker & Falk, LLCNewport News, VA

Kellie J. FalkDrucker & Falk, LLCRaleigh, NC

Dana DavidE & S Ring Management CorporationLos Angeles, CA

Miles SpencerEastdil Secured, LLCWashington, DC

Seth GreenbergECI Group, Inc.Atlanta, GA

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 & SonsBloomfield Hills, MI

Trey EmbreyEmbrey Partners, Ltd.San Antonio, TX

Gregory L. EnglerEngler Financial Group, LLCAlpharetta, GA

Patrick JonesEngler Financial Group, LLCAlpharetta, GA

Kathleen FeldermanEPICSan Francisco, CA

Jonathan GriffithsEPICSan Francisco, CA

Christopher E. HashiokaFairfield Residential Company LLCSan Diego, CA

Gregory R. PinkallaFairfield Residential Company LLCSan Diego, CA

Michele M. EvansFannie MaeWashington, DC

Jeffery R. HaywardFannie MaeWashington, DC

George FisherFerguson EnterprisesAugusta, GA

Tom KopflerFerguson EnterprisesIrvine, CA

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

Tom EtheredgeForestar Group, Inc.Austin, TX

Wayne E. McDonaldForestar Group, Inc.Austin, TX

Gregory A. FowlerFPA MultifamilySan Francisco, CA

Daniel KaplanFPA MultifamilySan Francisco, CA

CJ EdmondsG5Bend, OR

Dan HobinG5Bend, OR

Edward CocoGE Real EstateAlpharetta, GA

Robert DeanGE Real EstateWashington, DC

Stephen LoPrestiGerson Bakar & AssociatesSan Francisco, CA

Linda ZellerGerson Bakar & AssociatesSan Francisco, CA

Katie BloomGoldman SachsIrving, TX

James W. Huckaby, Jr.Goldman SachsIrving, TX

John J. Gray, IIIGrayco Partners LLCHouston, TX

Joe MosleyGreystone Servicing Corporation, Inc.New York, NY

Billy PoseyGreystone Servicing Corporation, Inc.Memphis, TN

Justin GinsbergGuggenheim Commercial

Real Estate Finance, LLCNew York, NY

Kieran QuinnGuggenheim Commercial

Real Estate Finance, LLCAtlanta, GA

Jordan E. SloneHarbor Group InternationalNorfolk, VA

Curt HenselHD SupplySan Diego, CA

Paula PresenkowskiHD SupplySan Diego, CA


James M. BachnerHeitman LLCChicago, IL

Howard EdelmanHeitman LLCChicago, IL

Mark ForresterHendricks-BerkadiaPhoenix, AZ

Don HendricksHendricks-BerkadiaPhoenix, AZ

Jennifer MasseyHighland Commercial Mortgage, LLCBirmingham, AL

John O. Moore, Jr.Highland Commercial Mortgage, LLCBirmingham, AL

Jim DunlopHinesWashington, DC

Jon WoodHinesWinter Park, FL

Edward J. PettinellaHome Properties, Inc.Rochester, NY

Greg FaulknerHumphreys & Partners Architects, L.P.Dallas, TX

Mark HumphreysHumphreys & Partners Architects, L.P.Dallas, TX

James DavisInfoTycoonAtlanta, GA

Kevin GeorgeInfoTycoonAtlanta, GA

David KapiloffInsgroup, Inc.Houston, TX

Will BalthropeInstitutional Property Advisors,

a Marcus & Millichap CompanyDallas, TX

Peter KatzInstitutional Property Advisors,

a Marcus & MillichapPhoenix, AZ

Kevin A. BaldridgeThe Irvine Company Apartment

Communities 'IAC'Irvine, CA

Allina BoohoffJ.P. Morgan Asset ManagementNew York, NY

Tiffany ButcherThe JBG CompaniesChevy Chase, MD

Kai ReynoldsThe JBG CompaniesChevy Chase, MD

James A. ButzJefferson Apartment GroupMc Lean, VA

Gregory G. LambJefferson Apartment GroupMc Lean, VA


NMHC members are shuttled to Capitol Hill to hear from members of Congress as part of NMHC’s Fall Board of Directors Meeting.


Richard J. HighJohn M. Corcoran & CompanyBraintree, MA

Denny St. RomainJones Lang LaSalle Americas, Inc.Fort Lauderdale, FL

Faron G. ThompsonJones Lang LaSalle Americas, Inc.Atlanta, GA

Cindy ClareKettlerMc Lean, VA

Laurel HowellKettlerMc Lean, VA

Angela MagoKeyBank Real Estate CapitalCleveland, OH

Katie ThompsonKeyBank Real Estate CapitalDallas, TX

John FalcoKingsley AssociatesAtlanta, GA

Peggy RobinsonKingsley AssociatesAtlanta, GA

Jay OlanderLandmark Apartment Trust

of America, Inc.Richmond, VA

Gus RemppiesLandmark Apartment Trust

of America, Inc.Richmond, VA

Keith A. HarrisThe Laramar Group, LLCChicago, IL

Tom KlaessThe Laramar Group, LLCGreenwood Village, CO

Christine AkinsLaSalle Investment Management, Inc.Chicago, IL

Peter P. DiLullo, Jr.LCOR IncorporatedBerwyn, PA

Thomas J. O'BrienLCOR IncorporatedBerwyn, PA

Jen AmbrosiusLeaseHawkScottsdale, AZ

Michael E. MuellerLeaseHawkScottsdale, AZ

Jay J. EisnerLEM Capital, L.P.Philadelphia, PA

Herbert L. Miller, Jr.LEM Capital, L.P.Philadelphia, PA

Thomas F. McCoy, Jr.Lockton Companies, LLCDenver, CO

Charles M. McDanielLockton Companies, LLCDenver, CO

Charles YoungMadera EquityLubbock, TX

Dean HolmesMadison Apartment GroupPhiladelphia, PA

Joseph F. MullenMadison Apartment GroupPhiladelphia, PA

Nicholas Michael RyanThe Marquette CompaniesNaperville, IL

Darren R. SlonigerThe Marquette CompaniesNaperville, IL

Gerald J. HaakMAXX PropertiesHarrison, NY

Andrew R. WienerMAXX PropertiesHarrison, NY

Yvonne JonesMcCaffery InterestsChicago, IL

Dan McCafferyMcCaffery Interests, Inc.Chicago, IL

Michael C. McDougalMcDougal Properties, L.C.Lubbock, TX

Tristan ThomaMcDougal Properties, L.C.Lubbock, TX

Kenneth LeeMcDowell PropertiesSan Francisco, CA

W. Patrick McDowellMcDowell PropertiesMiami, FL

Albert BerrizMcKinleyAnn Arbor, MI

Ken PolsinelliMcKinleyAnn Arbor, MI

Daniel HeumannMeridian Capital Group, LLCNew York, NY

Jonathan SternMeridian Capital Group, LLCNew York, NY

Alasdair CrippsMesirow FinancialChicago, IL

Charles KendrickMesirow FinancialChicago, IL

Mark GleibermanMG PropertiesSan Diego, CA

Rob SinghMG PropertiesSan Diego, CA

Robert D. LazaroffThe Michelson OrganizationSaint Louis, MO

Bruce V. Michelson, Jr.The Michelson OrganizationSaint Louis, MO

Jeffrey GoldbergMilestone GroupNew York, NY

Steven T. LambertiMilestone ManagementDallas, TX

Paul HarrisMoran & CompanyDallas, TX

Michael S. MorganThe Morgan Group, Inc.Houston, TX

Alan PattonThe Morgan Group, Inc.Houston, TX

Jonathan MorganMorgan PropertiesKing of Prussia, PA

Mitchell L. MorganMorgan PropertiesKing of Prussia, PA

Melanie MorrisonMorrison, Ekre & Bart Management

Services, Inc.Tucson, AZ

Jodi SheahanMorrison, Ekre & Bart Management

Services, Inc.Phoenix, AZ

Elissa M. CourtrightMRI SoftwareSolon, OH


David PostMRI SoftwareSolon, OH

Joshua GoldfarbMulti Housing AdvisorsAtlanta, GA

Marc G. RobinsonMulti Housing AdvisorsCharlotte, NC

Gina M. DingmanNAI EverestMinneapolis, MN

Caryn McVeyNAI EverestMinneapolis, MN

Casey BrennanNALS Apartment HomesSanta Barbara, CA

Michael LewbelNALS Apartment HomesSanta Barbara, CA

Richard BurnsThe NHP FoundationNew York, NY

Kyle LoveladyThe NRP GroupSan Antonio, TX

Alan ScottThe NRP GroupSan Antonio, TX

Robert A. EspositoNWP Services CorporationPembroke Pines, FL

Michael D. RadiceNWP Services CorporationCosta Mesa, CA

Kevin FilterOak Grove CapitalSaint Paul, MN

Jeff PattonOak Grove CapitalBirmingham, AL

Jake HarringtonOn-Site.comCampbell, CA

Monte JonesOn-Site.comCampbell, CA

Gene R. BlevinsOrion Real Estate ServicesHouston, TX

Pam McGlashenOrion Real Estate ServicesHouston, TX

Arthur J. ColePacific Urban ResidentialPalo Alto, CA

Alfred V. PacePacific Urban ResidentialPalo Alto, CA

W. Clark EwartParadigm Development CompanyArlington, VA

Stanley W. SloterParadigm Development CompanyArlington, VA

Nicholas KillebrewParse CapitalLaguna Beach, CA

David OnanianPAS Purchasing SolutionsHouston, TX

Randall M. PaulsonPAS Purchasing SolutionsPlano, TX

Gary GoodmanPassco Companies, LLCIrvine, CA

Larry SullivanPassco Companies, LLCIrvine, CA

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

Anand GajjarPillar Multifamily, LLCNew York, NY

Mark P. KingstonPIXMissouri City, TX

Theodore Stratis, Jr.PIXWayne, NJ

D. Scott BassinPNC Real EstatePittsburgh, PA

William Thomas BooherPNC Real EstateSan Francisco, CA

Marc S. PollackPollack Shores Real Estate GroupAtlanta, GA

Steven L. ShoresPollack Shores Real Estate GroupAtlanta, GA

Donna PreissThe Preiss CompanyRaleigh, NC

John PreissThe Preiss CompanyRaleigh, NC

Steven A. BergerPRG Real Estate Management, Inc.Philadelphia, PA

Sam FosterPRG Real Estate Management, Inc.Philadelphia, PA

Seth MartinPritzker Realty Group, LLCChicago, IL

Michael A. SullivanPritzker Realty Group, LLCChicago, IL

Darren R. CarringtonPrometheusSan Mateo, CA

John D. MillhamPrometheusWalnut Creek, CA

David BatemanProperty SolutionsLehi, UT

Benjamin ZimmerProperty SolutionsLehi, UT

Bruce LaMotteProvidence Management

Company, L.L.C.Glenview, IL

Alan PollackProvidence Management

Company, L.L.C.Glenview, IL

Thomas G. SmithPrudential Real Estate InvestorsAtlanta, GA

Kenneth J. BaconRailField Realty PartnersBethesda, MD

Bruce BarfieldRainmaker LROAlpharetta, GA

Tammy FarleyRainmaker LROAlpharetta, GA

Adam DuckerRCLCOBethesda, MD

Charles A. HewlettRCLCOBethesda, MD



Mike SabbatisRealPage, Inc.Carrollton, TX

Stephen T. WinnRealPage, Inc.Carrollton, TX

Emily Kaplanrealtor.com rentalsWestlake Village, CA

Shawn Sullivanrealtor.com rentalsWestlake Village, CA

David L. GoodmanRed Mortgage Capital, LLCReston, VA

Jorge BaldorResidentCheckDallas, TX

Alan FeldmanResource Real Estate, Inc.Philadelphia, PA

Yvana RizzoResource Real Estate, Inc.Philadelphia, PA

J. Brian PetersRose Associates, Inc.New York, NY

Adam R. RoseRose Associates, Inc.New 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

J. Robert LoveSimpson Housing LLLPAtlanta, GA

Ella NeylandSteadfast Income REITIrvine, CA

William StollSteadfast Income REITIrvine, CA

Michael KatzSterling American Property Inc.Great Neck, NY

Tarak PatoliaSterling American Property Inc.Great Neck, NY

Jay JacobsonStiles Residential GroupFt Lauderdale, FL

Scott AndersonTIAA-CREF Global Real EstateNewport Beach, CA

Shari McKoinTransUnion Rental

Screening SolutionsGreenwood Village, CO

Brian J. TusaTrinsic Residential GroupDallas, TX

Greg CampbellTruAmerica MultifamilySherman Oaks, CA

Robert E. HartTruAmerica MultifamilySherman Oaks, CA

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

Peter E. BaccileUBS Securities, LLCNew York, NY

Geoffrey C. BrownUSA Properties Fund, Inc.Roseville, CA

Karen McCurdyUSA Properties Fund, Inc.Roseville, CA

Michael Keyes FerrisValet Waste, LLCTampa, FL

Syd McDonaldValet Waste, LLCTampa, FL

Diane BatayehVillage Green CompaniesFarmington Hills, MI

Jonathan HoltzmanVillage Green CompaniesFarmington Hills, MI

Brendan ColemanWalker & DunlopBethesda, MD

Howard W. Smith, IIIWalker & DunlopBethesda, MD

Raymond D. BarrowsWaypoint ResidentialAtlanta, GA

Scott J. LawlorWaypoint ResidentialGreenwich, CT

Jack O'ConnorWeidner Property Management LLCKirkland, WA

W. Dean WeidnerWeidner Property Management LLCKirkland, WA

Michael K. HaydeWestern National Property

ManagementIrvine, CA

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

Greg M. GalliWoodmont CompaniesBelmont, CA

Ronald V. GranvilleWoodmont Real Estate ServicesBelmont, CA

Brigitta EgglestonYardi Systems, Inc.Santa Barbara, CA

Brad Stetser Yardi Systems, Inc.Santa Barbara, CA

Samuel C. Stephens, IIIZOM CompaniesOrlando, FL

Greg WestZOM CompaniesFort Lauderdale, FL

42

Abacus Capital Group, LLC

Akara Partners

Alliance Residential Company

Ambling University Development Group, LLC

Apartments 247.com

Arbour Valley Management

Ashford Communities

Aspen Heights

Asset Essentials

Avesta Communities

Benchmark Real Estate Advisors

Bentall Kennedy

Berger Rental Communities

BG Capital Management

Blackstone

Blake Capital Corp.

BPM Real Estate Group

Brack Capital

Brandenburg Properties

Brasfield & Gorrie, LLC

Brass Enterprises

BSB Design

Campus Living Villages

Candlewood Partners LLC

Capstone Apartment Partners

Chartwell Holdings

Clark Enterprises, Inc.

Collins Enterprises, LLC

Core Construction

Core Real Estate Capital LLC

Crescent Communities

Cushman & Wakefield/Thalhimer

The Cypress Companies

Daniel Corporation

Decron Properties Corp.

DepositIQ

E2M Partners, LLC

EII Realty Corp

Eller Capital Partners

EPIC

eSupply Systems

Fortress Investment Group

FSI Construction

GEM Realty Capital, Inc.

Glendale Development

Global State Investment Group

Golub & Company

Granite Telecommunications

Greystone Bridge Holdings, Inc.

Greystone Property Management Corporation

Hamilton Point Investments, LLC

Hampshire Properties, LLC

Hancock Real Estate Strategies

Harborview Capital Partners

Hayden Properties

Holland Construction Services

Housing Partnership Equity Trust

The Howard Hughes Corporation

ICM Green Builders LLC

Index Investment LLC

J.H. Berry and Gilbert Multi-Family, Inc.

Joco Partners

Jones Lang LaSalle Operations, LLC

Kettler, Inc.

Knightvest Management LLC

KSUF Housing Management LLC

LICO Group Corporation

The Lighthouse Group LLC

Lincoln Financial Group

LivCor, LLC

M3 Multifamily, LLC

Mason Joseph Company, Inc.

McCormack Baron Ragan Management Services, Inc.

Metropolitan Property Investment

Milan Insurance Partners

Milhaus

Miller Frishman Group, LLC

MLV & Co.

Momentum Fitness Solutions

Morris Manning & Martin LLP

MRP Realty

MRS Management, LLC

NAI Petrous

Natixis

NMS Property Services Corporation

North Bay Group, LLC

Oldcastle, Inc.

Omninet Capital

Optima, Inc.

Paragon Multifamily

Parse Capital

Penzance

Perella Weinberg Partners

PIX

Private Equity Group LLC

2013 New NMHC Members


Property Investment Advisors

PRP Real Estate Management

Prudential Huntoon Paige

RailField Realty Partners

Redwood Capital Group, LLC

Republic Title

The Residential Group

ResiModel, LLC

RETC LP

REVA Development Partners, LLC

Rittenhouse Realty Advisors

Ryan Companies US Inc.

Savills LLC

Simpson Property Group LP

Situs

Spectrum Properties Residential,Inc.

Spring Bay Property Company

Standard Development

Stanmore Partners, LLC

Stellar Capital Partners

Stiles Residential Group

Stuho

Sullivan Curtis Monroe

Sunstone Capital Partners, LLC

Transwestern Investment Group

TruAmerica Multifamily

TSB Capital Advisors, LLC

Unique Apartment Group

Velocify

Virtus Real Estate Capital

VTT Management Inc.

Walk2Campus Holdings, LLC

WastePoint

Waterton Associates

WDG Architecture

Weiss Entities

Wells Asset Management

Westmount Realty Capital, LLC

Wharton Equity Partners

Wild River Investments

Wilmorite

Wood Partners

New to the 2013 OpTech, Commerce Corner brought together leading apartment executives withexhibitors for one-on-one meetings, creating a unique reverse trade show experience.

44 2013 NMHC Sponsors

Aimco

Apartment Finder

Apartments.com

ARA

Arbor Commercial Mortgage

AUM

AvalonBay Communities, Inc.

Bader Company

Beech Street Capital

Berkeley Point Capital

BRE Properties, Inc.

Camden Property Trust

Capital One

CBRE

CoreLogic SafeRent

CORT

Cushman & Wakefield

Equity Residential

First Advantage

Greystar Real Estate Partners

The Hanover Company

Hendricks-Berkadia

HFF

Institutional Property Advisors, a Marcus & Millichap Company

Jones Lang LaSalle

MAA

Moran & Company

MRI Software

Newmark Grubb Knight Frank

NWP Services Corporation

OnSite

Pierce-Eislen, Inc.

Pinnacle

PNC Real Estate

Protection One

Prudential Mortgage Capital Company

Rainmaker LRO

Red Mortgage Capital, LLC

Riverstone Residential Group

UDR, Inc.

Valet Waste

Walker & Dunlop

Wells Fargo

Apartment Guide

AT&T Connected Communities

Berkadia

Comcast

Greystone

KeyBank Real Estate Capital

Kroll Factual Data, Inc.

Property Solutions

RealPage, Inc.

Rent.com

Time Warner Cable

Verizon Enhanced Communities

Yardi Systems, Inc.

2013 Chairman’s Circle($50,000 and up)

2013 Friends of the Council ($25,000 to $49,999)

SARES•REGIS’s Jeff Stack (right) participates in a Supplier Partner Alliancemeeting while committee Chair Larry Bellack looks on.

46 2013 NMHC Staff

Doug BibbyPresident

Michele AnapolCommunications Manager,Policy and Advocacy

Betsy Feigin BefusGeneral Counsel

Cindy ChettiSenior Vice President, Government Affairs

Devin BartleyCommunications Manager,Web and Digital

Matthew BergerVice President, Tax

Kim DutySenior Vice President, PublicAffairs and Industry Initiatives

Rick HaugheyVice President, IndustryTechnology Initiatives

Lisa BlackwellVice President, Housing Policy

Kenny EmsonSenior Vice President, Finance and Administration

Jim LapidesVice President, Public Relations

David CardwellVice President, Capital Markets

Mark Obrinsky, Ph.D.Senior Vice President, Research and Chief Economist

Sarah YaussiVice President, Industry Communications

Paula CinoSenior Director, Energy and Environmental Policy

Julie StalknechtSenior Vice President, Membership, Marketing and Meetings

Myrra BariringDirector, Accounting

Senior Leadership

Communications and Industry Initiatives

Government Affairs

Finance


Lisa CostelloVice President, Political Affairs

Jeanne McGlynn DelgadoVice President, Business and Risk Management Policy

Julianne GoodfellowManager, Government Affairs

Eileen Lee, Ph.D.Vice President, Energy and Environmental Policy

Ron NicksonVice President, Building Codes

Kimble RatliffDirector, Government Affairs

Deborah AncrumVice President, Administration

Dave KnerlerDirector, Technology

LeVoniann (Toni)SampsonReceptionist

Candace ThomasAdministrative Assistant

Jennifer Angebranndt, CMPVice President, Meetings

LaFayette FlowersManager, Membership

Deanita Holland, CMPAssistant Director, Meetings

Melissa RowanManager, Meetings

Brian VeithManager, Membership

Susan YukDatabase Administrator

Caitlin WalterSenior Research Analyst

Government Affairs (cont.)

Operations

Membership, Marketing and Meetings

Research

Jim ArburyVice President,Student Housing

Student Housing

48 Upcoming NMHC Meetings

April 29–30, 20142014 NMHC Research Forum(NMHC members only)

Georgetown University Hotel and Conference Center Washington, DC

May 12, 20142014 Emerging Leaders Speaker Series–Boston (NMHC members only)

Boston, MA

May 12–13, 20142014 NMHC Apartment Strategies/Finance Conference (NMHC members and nonmembers)

Fairmont Copley Plaza Boston, MA

May 13–14, 20142014 NMHC Spring Board of Directors Meeting (NMHC Board of Directors members only)

Fairmont Copley Plaza Boston, MA

September 16–18, 20142014 NMHC Fall Board of Directors and Advisory Committee Meeting (NMHC members only)

The Fairmont Hotel Washington, DC

September 30, 2014–October 2, 20142014 NMHC Student Housing Conference & Exposition (NMHC members and nonmembers)

Palmer House Hilton Chicago, IL

November 17–19, 20142014 NMHC OpTech Multifamily Business Operations and Technology Conference & Exposition (NMHC members and nonmembers)

Hilton Orlando Bonnet Creek Orlando, FL

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