With nearly 46,000 affordable housing units, The Michaels Organization captures the No. 1 spot on Affordable Housing Finance's upcoming list of Top 50 owners.

The Marlton, N.J.-based firm owns 323 affordable housing communities across the country. 

Here's a look at the Top 10 owners based on the number of affordable housing units owned as of Jan. 1:

    1. The Michaels Organization: 45,960

    2. Pinnacle Family of Cos.: 22,888

    3. Related Affordable: 21,068

    4. GHC Housing Partners: 18,189

    5. Dominium: 17,940

    6. Volunteers of America: 17,319

    7. Highridge Costa Cos.: 16,667

    8. Mercy Housing: 16,413

    9. National Church Residences: 16,233

    10. McCormack Baron Salazar: 14,305

Look for the full AHF 50 list in the April/May issue, which will be arriving in mailboxes and on www.housingfinance.com in the coming weeks. The results are based on a survey.