ATLANTA, GA - Wood Partners is third among the top real estate development firms in the United States, with more than $1.9 billion in properties developed since January 2010, a new survey shows.
Ryan Dearborn, chief executive officer of Wood Partners, noted that the Commercial Property Executive-Multi-Housing News Development Firms survey ranked the company across all commercial product types, including multifamily, office, retail and industrial. The No. 1 and No. 2 firms in the list were Hines and Trammell Crow Company respectively.
The survey asked developers about current and future plans, levels of investment in each proposed project, preferences in location, property type, and anticipated result.
"The rankings demonstrate these are all great companies. The strongest firms in our CPE-MHN Survey of Best Development Firms in the U.S. have a large national presence, variability in investment sectors, and aggressive plans for the future," a commentary accompanying the results said.
Wood Partners' strong showing reflects its leadership position in multifamily development, which is expected to enjoy robust growth. CPE-MHN reported the multifamily sector led the survey categories with 37 percent of all assets under development, and that Wood Partners had 39 multifamily projects in the pipeline.
"Wood Partners continues to be a top national multifamily development platform benefiting from our early-cycle performance," said CFO/COO Joe Keough.
"We have very strong relationships and a good reputation with our lenders, land sellers, brokers and capital, which continues to allow us to be extremely competitive and a market leader. Having said that, it is an increasingly competitive marketplace, which will require us to continue to innovate our product, capital and market strategies," Keough said.
CPE-MHN said many developers expect more activity in the next 18 months than in the last 18 months.
Dearborn said this year "is looking to be as good as or better than 2012," for the multifamily housing segment. "Even though there is multifamily building going on now in most markets, supply is still in check and below historical averages. Wood Partners is very bullish on 2013."
He said the company started 21 communities and approximately 5,100 units in 2012. Dearborn expects the firm to start 23 communities and approximately 5,600 units in 2013 with the goal of completing more than $1 billion in development each year.
"As the economy has rebounded, high-density rental housing has been in high demand, particularly in urban areas, and the supply is still constrained," he said.
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities.