The apartment sector continued its record run, reflected in the National Multifamily Housing Council’s (NMHC) newly released 2017 NMHC 50 – the authoritative ranking of the nation’s largest apartment owners, manager, developers, general contractors, and, new this year, syndicators.

MAA (headquartered in Memphis, Tenn.) is the country’s largest apartment owner, with 99,393 apartment homes owned. Propelling MAA to the top of the list was its acquisition of Post Properties and its 24,000 apartments.

Greystar Real Estate Partners (headquartered in Charleston, S.C.) remained the largest apartment manager, with 415,634 apartments under management.

Greystar Real Estate Partners also jumped to the top of the apartment developers list this year through its 7,623 apartments started in 2016.

Alliance Residential Company (headquartered in Phoenix, Ariz.) retained its spot as the nation’s top general contractor for the second year in a row, starting 6,933 apartments in 2016.

Alden Torch Financial (headquartered in Denver, Colo.) is the country’s largest apartment syndicator with 183,456 apartments syndicated.

“Whether it’s rent growth, occupancy or absorptions, key industry metrics continued to show 2016 as one of the strongest years on record for the apartment industry,” said Mark Obrinsky, NMHC’s Senior Vice President of Research and Chief Economist. “Any way you slice it, last year was a tremendous one for multifamily.”

Additional industry and NMHC 50 highlights:

• 9.1 million – Growth in renter households over the past decade, according to the Census Bureau.
• 1,992,700 – Number of units owned in the NMHC 50 ownership list, representing 9.6 percent of the total apartment stock in the U.S.
• 3,177,852 – Number of units managed in the NMHC 50 management list, an all-time high and a 4.3 percent growth over last year.
• 96.2 percent – Occupancy rate in 2016, the highest since 2000, according to MPF Research.
• 311,700 – Number of apartments completed in 2016, according to the Census Bureau.
• 289,025 – Absorptions of apartments, which is 87 percent higher than historical average, according to MPF Research.
• $159.4 billion – Total transaction volume for 2016, a new record according to Real Capital Analytics.

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, general contractors and syndicators are invited to answer a survey questionnaire that asks about their prior year activities. Apartment owners, managers and syndicators are ranked based on their portfolio holdings (either owned or managed) as of January 1, 2017, while developers and general contractors are ranked based on the number of units started in 2016.

For more details about the NMHC 50, visit www.nmhc.org/The-NMHC-50

The highly-anticipated renovation of units and amenities at Trellis at the Lakes is officially underway in the Gateway neighborhood of St. Petersburg, Fla. Carefully planned to deliver sustainably-minded, resort-style living with a modern edge, Trellis at the Lakes distinguishes itself as one of the only apartment communities in the area to offer this level of apartment home finishes and amenities.

"A renovation of this magnitude on units and amenities is a first for the area and solidifies our investment in the community and dedication to increase the value of the region," said, Tammy Young, southeast regional manager for Alliance Residential Company. "Trellis at the Lakes, owned by ESG Kullen and professionally managed by Alliance, will first renovate the apartment homes and building exterior, then tackle amenity and communal space upgrades over the course of a few months. Alliance praises ESG Kullen on acquiring this beautiful community and developing the forward-thinking renovation plan."

Located at 11401 Dr. Martin Luther King Jr St. N, Trellis at the Lakes is a 688-unit garden-style community currently leasing 600 to 903-square-foot apartment homes, including one-bedroom, one-bedroom-plus-den and a variety of two-bedroom units as well as lofts. With leases from $750 to $1,489, the beautifully renovated homes feature top-of-the-line designer wood cabinetry, a subway tile backsplash appointment and solid granite counter tops and vanities. Additionally, Trellis at the Lakes has made a conscious effort to incorporate green features that represent a commitment for cost savings to residents with energy-saving improvements such as new designer LED lighting, smart thermostats, upgraded Energy Star appliances and more. The community will also be undergoing a complete window and sliding door replacement program designed to promote electrical efficiency and reduce outside noise.

Trellis at the Lakes currently offers residents four tennis courts, two sports courts, two sparkling pools, a resident business center and clubhouse, a dog park with dog wash station and a car wash station.  In addition, Trellis at the Lakes will be adding a state-of-the-art fitness center featuring a fitness on demand studio. The beautifully landscaped community stretches over 56 acres and boasts lush greenery, flowering trees and meandering lakes, many of which are home to a number of birds and fish that are native to Florida. The community is also surrounded by over a mile of city sidewalks that residents can enjoy walking, running or biking in and around the community.

The nearby business districts of Carillon Parkway and Gateway Business corridor makes it an ideal community for people working at any of the major employers, including Jabil Circuit, HSN, Raymond James, Clearwater Air Station, MacDill Air Force Base and Progressive. The convenient north St. Pete location also makes the community centrally located between Tampa, Clearwater and St. Petersburg and allows for quick access to I-275, Tampa International Airport and St. Pete-Clearwater International Airport.  Residents of Trellis at the Lakes are also a short drive from a number of casual to fine dining restaurants, designer shops at the International Plaza in Tampa and Sundial St. Pete -- St. Pete's downtown premier shopping and dining destination. Additionally, Tropicana Field, Straub Park, and the Vinoy Basin are nearby quick getaways for a sporting event, concert in the park or to spend the day on the water.

An industry leader in apartment living, ESG Kullen owns 12 communities nationwide. Alliance is proud to represent ESG Kullen as manager of its seven Florida communities, including Trellis at the Lakes.

To learn more about Trellis at the Lakes, visit www.TrellisAtTheLakesLiving.com.