COVER STORY
The Top 10 Companies Completing Acquisitions
AFFORDABLE HOUSING FINANCE • MAY 2007
| RANK |
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
UNITS ACQUIRED IN 2006 (WITH OR WITHOUT REHAB) |
REGION(S) |
ORGANIZATION TYPE |
1 |
Lawler Wood Housing, LLC
Brian M. Simmons, vice president
|
900 S. Gay St., Suite 1600
Knoxville, TN 37902
(865) 637-7777
www.lawlerwood.com
|
1,926 |
Midwest, Northeast, South Central, Southeast |
For-profit |
| Lawler Wood Housing’s core area of focus is acquiring and rehabbing Sec. 8 properties with low-income housing tax credits and tax-exempt bonds. The firm acquired 13 properties in 2006. |
2 |
Mercy Housing
Jennifer Kostka, communications manager
|
1999 Broadway, Suite 1000
Denver, CO 80202
(303) 830-3300
www.mercyhousing.org
|
1,400 |
National |
Nonprofit |
| Mercy Housing completed 17 acquisitions in 2006. |
3 |
Dominium Development & Acquisition, LLC
Paul Sween and Armand Brachman, principals
|
2355 Polaris Lane, North Suite 100
Plymouth, MN 55447
(763) 354-5500
www.dominiumapartments.com
|
1,154 |
Midwest, South Central, Southeast, West |
For-profit |
| Dominium Development’s focus includes Sec. 8 preservation. The firm reported completing 21 acquisitions in 2006. |
4 |
National Community Renaissance
Rebecca F. Clark, president
|
9065 Haven Ave., Suite 100
Rancho Cucamonga, CA 91730
(909) 483-2444
www.nationalcore.org |
640 |
National |
Nonprofit |
| National CORE reported completing seven acquisitions with 640 units in 2006. |
5 |
Volunteers of America
Patrick Sheridan, senior vice president of housing development
|
1660 Duke St.
Alexandria, VA 22314
(703) 341-5000
www.volunteersofamerica.org
|
634 |
National |
For-profit |
| Volunteers of America completed nine acquisitions in 2006. |
6 |
Stanford Management, LLC
Rosa Scarcelli, president
|
45 Casco St., Suite 100
Portland, ME 04102
(207) 772-3399
|
500 |
National |
For-profit |
| Stanford Management specializes in acquisitions. |
7 |
The Hampstead Cos.
Greg Gossard, principal
|
4250 Louisiana St.,
San Diego, CA 92104
(619) 543-4204
www.hampstead.com
|
477 |
National |
For-profit |
| The Hampstead Cos. specializes in the preservation of existing subsidized housing. |
8 |
The Phipps Houses Group
Bettina Lee, communications associate
|
902 Broadway, 13th Floor
New York, NY 10010
(212) 243-9090
www.phippsny.org
|
460 |
New York City |
Nonprofit |
| The Phipps Houses Group completed two acquisitions in 2006. |
9 |
Urban Innovations
Steve Greenbaum, principal
|
445 N. Wells, Suite 200
Chicago, IL 60610
(312) 970-3272
www.urbaninnovations.com
|
457 |
National |
For-profit |
| Urban Innovations focuses on the acquisition and rehabilitation of affordable seniors housing. It acquired four buildings in 2006 and plans to acquire another 10 buildings with 732 units in 2007. |
10 |
Progressive Redevelopment, Inc.
Shelly Patton, vice president of project development
|
321 W. Hill St.
Decatur, GA 30030
(404) 371-1230
www.prihousing.org
|
426 |
Southeast |
Nonprofit |
| The firm completed two acquisition and rehabilitation projects in 2006 and expects to complete four more in 2007. |
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