Avenue5 Residential Named as One of the Largest Multifamily Management Firms in the United States for the Second Year in a Row

SEATTLE, May 3, 2018 /PRNewswire/ -- Avenue5 Residential, a private third-party multifamily property management services firm, announces that it has been named as one of the nation's largest multifamily management service providers on the National Multifamily Housing Council's (NMHC) 2018 NMHC 50 list. The company, which debuted on the list last year, was ranked at position 30 due to its unit count of 43,855. The company's ranking was elevated from position number 46 on the 2017 list.

In its examination of the rankings, NMHC noted that Avenue5 grew its holdings by almost 38% from 2017 to 2018, paving the way for the company to make the largest jump on the 2018 rankings list. Additionally, NMHC found that Avenue5's organic growth of 11,997 units year-over-year, the second-highest expansion figure on the list, surpassed the average yearly pickup of 4,163 units across all companies ranked.

"We greatly value NMHC as an industry resource, and it is an honor to have been included on this year's list of the largest apartment management companies in the country," stated Walt Smith, chief executive officer at Avenue5. "Our goal as an organization has always been to provide a premier level of service to multifamily property owners, and we believe that our growth is the direct result of our alignment with our clients' goals as well as our commitment to their properties' performance."

As of April 2018, Avenue5 manages more than 225 properties with over 45,000 units in 11 states, and continues to capitalize on its local expertise in markets nationwide. The company is headquartered in Seattle, and has offices in Denver, Phoenix, Portland, Salt Lake City, San Diego, and greater Washington, DC. We also retain local experts in major markets including Spokane, Southern and Northern California, Reno, Las Vegas, Albuquerque, Colorado Springs, Austin, San Antonio, Dallas, and Baltimore. Avenue5 employs over 1,200 associates nationwide.

Avenue5's ranking on the NMHC list has capped off a banner year for the company in terms of recognition from inside and outside of the multifamily industry. Over the past 12 months, the firm was named a top 15 national finalist on the 2018 Best Places to Work Multifamily™ list, certified as a Great Place to Work®, and ranked number four on the 100 fastest-growing private companies in Washington list by The Puget Sound Business Journal.

"Being recognized as one of the nation's largest and fastest-growing multifamily management firms is a significant achievement for us at Avenue5, but generating organic growth by delivering results for our client partners is even more rewarding," affirmed Smith. "In the coming years, we look forward to continuing to offer our clients a comprehensive service infrastructure, providing a hands-on approach to managing their assets, and measuring our results to ensure that their expectations are exceeded."

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, contractors and syndicators are invited to answer a survey questionnaire that asks about their prior year's activities. Apartment owners, managers and syndicators are ranked based on their portfolio holdings (either owned or managed) as of January 1, 2018.

For more information on Avenue5, visit www.avenue5.com. For further details on the 2018 NMHC 50, visit www.nmhc.org/The-NMHC-50.

About Avenue5 Residential
Avenue5, a multifamily property management services firm, oversees over 225 properties and more than 45,000 units in 11 states. The company is headquartered in Seattle and has offices in Denver, Phoenix, Portland, San Diego, Orange County, and greater Washington, DC. Avenue5 also has local experts in major markets including Spokane, Southern and Northern California, Reno, Las Vegas, Salt Lake City, Albuquerque, Colorado Springs, Austin, San Antonio, Dallas, and Baltimore. The firm employs about 1,200 associates nationwide. www.avenue5.com

SOURCE Avenue5 Residential