DES MOINES REAL ESTATE COMPANY RANKS AMONG LARGEST MULTIFAMILY OWNERS AND OPERATORS IN THE NATIONFriday, April 12, 2019
DES MOINES, IOWA – BH Management Services, LLC and BH Equities, LLC are pleased to announce that the companies have once again been listed among the nation’s largest apartment owners and operators according to the National Multifamily Housing Council (NMHC).
BH Management Services, LLC ranked 8th on the list of largest management companies, climbing one spot from 2018, with more than 94,000 units under management. BH Equities, LLC was ranked 11th, climbing six spots from 2018 with ownership of more than 58,000 units.
“We are pleased to be named among the largest multifamily management and ownership companies again this year,” said Joanna Zabriskie, president of BH Management Services. “Our ranking is a direct result of our talented team members and our culture of being forward thinking. By doing the right thing through various real estate cycles, we have built, not only a good track record, but a good reputation in the industry.”
During 2018, BH added 77 properties to their portfolio representing a transition of more than 23,063 units. In addition, they completed the largest ever multifamily transaction by an Iowa company, a $1.3 billion acquisition of 26 multifamily communities across 10 states including Texas Missouri, Tennessee, Florida, Georgia, North Carolina, South Carolina, Virginia, Maryland and Oklahoma.
In addition to core assets in major markets, BH specializes in value-add properties that it rehabs and repositions. Over the course of the year, they executed renovations at 159 of their properties, their total completed projects including 5,162 interior renovations, 636 energy saving upgrades and 124 exterior improvements.
“In 2018, BH’s Construction and Design divisions collaborated to complete more than 5,000 projects, an investment of more than $110 million in value-add upgrades,” said BH Owner and Chairman, Harry Bookey. “By improving our homes and communities we aim to enhance our resident’s living conditions while increasing the value of our partner’s investments.”
BH was named on Fortune Magazine’s 2018 Top 100 Best Workplaces for Women, Best Workplaces for Millennials and Best Workplaces in Texas. In total, the company employs more than 2,000 multifamily professionals, including 206 here in Iowa.
“Our people are our most valuable asset,” said Zabriskie. “We want to hire and retain great talent, and we are working hard to be the employer of choice through expanding our benefit package, providing paid short-term disability, granting on-call bonuses, and offering enhanced training to all our team members.”
Both BH Management Services, LLC and BH Equities, LLC are majority-owned by founder Harry Bookey. Bookey serves as Chairman and CEO of BH Equities, and Chairman of BH Management Services, which is operated under the guidance of its President, Joanna Zabriskie. Founded in the 1990’s, The BH Companies are some of the fastest-growing organizations in the multifamily industry.
The BH portfolio expands across 19 states, with properties as far west as Arizona and Colorado and as far east as Florida and Maryland, with the largest concentration of properties in the state of Texas and the southeast.
The National Multifamily Housing Council has provided the top owner and manager lists for the past two decades, giving companies a reference for different trends taking place in the industry. For more information on the NHMC Top 50, visit the organization’s website at: https://www.nmhc.org/The-NMHC-50/
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