Eugene Burger Mgmt.
Rohnert Park, Calif.–based Eugene Burger Management Corp. appears on the Top 50 Managers list for the first time, at No. 47, with 25,000 units. The firm focuses on the West but manages a variety of product types, including affordable, market-rate, and student.
New to the Builders list, at No. 26, Watermark Residential started 1,546 units for itself in 2011. The Indianapolis-based company entered a number of markets, including Oklahoma City; Nashville, Tenn.; Lexington, Ky.; and Terre Haute, Ind. This year, the firm aims to start 1,000 units and enter Colorado.
San Diego–based Wermers Cos. played in both the affordable and market-rate sectors with its 3,200 starts in 2011. The firm, No. 3 on the Top 50 Builders list, started projects on the West Coast and built the bulk of its units, 1,900, for itself. This year, it plans to build 3,500 units.
Based in Greensboro, N.C., Samet debuted on the Top 50 Builders list this year at No. 17. The firm built 1,913 units last year and projects 2,112 this year. Part of Samet’s growth was driven by proving it could build units outside its regular operating area, as well as by adding new clients.
Cottonwood Residential, an unlisted REIT based in Salt Lake City, renovated 1,500 units in 2011, placing it at No. 10 on the Top 25 Renovators list. The firm expects to do 300 renovations this year while also focusing on REIT rollouts, overall portfolio growth, and an 8 percent jump in NOI.