SEATTLE, June 6, 2019 /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) 2019 NMHC 50 list. The company, which debuted on the list in 2017, is ranked at position 20 due to its 2018 year-end unit count of 55,289. This represents an increased unit count of 26.1% from the prior year, when Avenue5 was ranked at position 30 on the list.
In its examination of the rankings, NMHC noted that Avenue5 had the highest jump in rankings (up 10 positions) of any company on the list. NMHC also highlighted that Avenue5 had the third-largest unit count increase among the multifamily management firms listed.
"We are honored to have been included on this year's list of the nation's largest multifamily management firms," said Walt Smith, chief executive officer at Avenue5. "Our growth has stemmed from our clients' continued trust and confidence in us, and we look forward to continuing to strengthen our client relationships by focusing on service, property performance, data-driven decision making, technology, and maintaining a hands-on approach to managing our properties."
Avenue5 currently manages more than 300 properties and 57,000 units in 12 states. The company is headquartered in Seattle, and has offices in Denver, Orange County, Phoenix, Portland, Salt Lake City, San Diego, Spokane, and greater Washington, DC. In addition, Avenue5 has local experts in major markets including Northern California, Reno, Las Vegas, Albuquerque, Colorado Springs, Austin, San Antonio, Dallas, and Baltimore. The firm employs over 1,500 associates nationwide.
Avenue5's ranking on the NMHC list has underscored another year of growth and recognition for the company. By the end of 2018, the company had been named as a national finalist on the 2018 Best Places to Work Multifamily™ list, and had ranked at position number 2 on the 100 fastest-growing private companies in Washington list by The Puget Sound Business Journal.
According to Smith, as the company marks its fifth year in business, the coming months will be characterized by further expansion for Avenue5.
"Throughout 2019, we'll continue to strengthen our infrastructure, increase our geographic reach, and make key leadership promotions and appointments in the Northwest, South Central, Mid-Atlantic, and other areas in order to support our clients," confirmed Smith. "This year, more than ever, our in-house operations and client services leaders are well positioned to serve the complex needs of institutional investors, advisors, high-net-worth individuals, and other multifamily property owners."
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, 2019. This year marks the 30th consecutive year of the NMHC 50 survey program.
About Avenue5 Residential
Avenue5, a multifamily property management services firm, oversees more than 300 properties and 57,000 units in 12 states. The company is headquartered in Seattle, and has offices in Denver, Orange County, Phoenix, Portland, Salt Lake City, San Diego, Spokane, and greater Washington, DC. In addition, Avenue5 retains local experts in major markets including Northern California, Reno, Las Vegas, Albuquerque, Colorado Springs, Austin, San Antonio, Dallas, and Baltimore. The firm employs about 1,500 associates nationwide. www.avenue5.com
SOURCE Avenue5 Residential