MORAN & CO.
Since the inception of its third party services arm,
Moran & Co. has represented owners in the sale or
equity capitalization of $34.5 billion in multifamily
transactions. Since 2012, Moran’s transactions
have totaled $23.05 billion, including $17.4 billion
of income property sales, $4.9 billion of equity
placement for existing and development deals,
and $744 million of land sales. Of these transactions, more than 50 involved assets valued in
excess of $100 million.
Given its success, it’s natural to ask how the company got to this position. The story starts in 1972,
when Thomas F. Moran, the company’s founder and co-chairman, began raising equity for apartment development via limited partnerships, for many of which he served as general partner. About a decade later, Mary Ann King, now co-chairman and West managing
partner, left a position with Continental Illinois Bank to join Moran in sourcing investment opportunities, raising equity, structuring
joint ventures and securing mortgage financing for what was by then a growing enterprise.
Fast forward to 1986—they had funded construction of more than 15,000 apartment units. 1986 was also the year that the income
tax laws were changed to be less favorable to real estate ownership and while many owners saw little choice but to surrender their
ownership interests to their lenders, Moran and King worked for several years to restructure each of their partnerships, with the goal
of maintaining ownership and recovering their investors’ equity. Since that time, approximately 9,000 of these units have been sold, at
a profit, and approximately 6,000 more are still owned by the original partnerships.
In 1994 the company recognized that demand for apartments by institutional investors would only increase and formed a complementary brokerage business based in Southern California to serve these sophisticated investors.
As the business evolved, Moran & Co. grew from a Southern California regional shop to an investment sales platform with offices
nationwide. Between 2002 and 2013, regional offices were added in Dallas, Chicago, Denver, Seattle, Washington, DC and Atlanta, with
satellite offices in San Francisco, Houston and Boston.
NATIONAL APARTMENT ASSOCIATION
The National Apartment Association envisions a world where rental housing is a valued partner in every community. NAA
is committed to serving its 160 affiliates, more than 75,000 member companies and the 9. 25 million rental housing units
they operate globally. NAA’s mission is to serve as a trusted, preeminent resource for all stakeholders in the rental housing industry through advocacy, education and collaboration.
The Association also gives back, pledging to improve the world through various philanthropic
initiatives undertaken not only by the organization as a whole, but by its generous members as
well. NAA is governed by a volunteer board of directors. Committees, task forces and other
groups are also established to assist in this governance. These groups work to represent, involve
and serve members while providing a framework for educating future leaders of the association.
They promote member participation in problem solving and provide a forum for the many interests within the association, utilizing the experience, knowledge and skills of NAA’s members.
The current president and chief executive officer leading NAA’s efforts is Robert Pinnegar. He
heads a large network of industry professionals, researchers and local affiliates, spearheading advocacy and public policy efforts, building strategic partnerships and overseeing the development of
innovative resources and educational programs.
Under Pinnegar’s watch, NAA has undergone a transformation that
included realigning staff and adding an industry operations department, led by Amy Groff. The senior vice president brings more than two
decades of experience in property management, most recently as SVP of
operations for Kettler.
In addition, NAA undertook an extensive public affairs campaign
regarding the passage of tax reform. The organization’s efforts generated thousands of letters and emails from NAA’s grassroots network to legislators. Building on that success, the association is
expanding its advocacy efforts, which is led by senior vice president
Greg Brown and his team.
As NAA continues to evolve, Pinnegar will oversee the Washington,
DC-based organization’s transformation and growth.
Peter Evans Mary Ann King
Thomas F. Moran