Home Properties
 | |
| Privately Held | |
| Industry | Apartments |
| Predecessor | Home Leasing Corporation |
| Founded | November 13, 1993 |
| Founder |
Nelson B. Leenhouts Norman P. Leenhouts |
| Headquarters | Rochester, New York |
| Revenue |
 US$0.671 billion (2014)[1] |
 US$0.189 billion (2014)[1] | |
| Total assets |
US$4.488 billion (2014)[1] |
| Total equity |
US$1.653 billion (2014)[1] |
| Owner | Lone Star Funds |
Number of employees | 1,200 (2014)[1] |
| Website |
www |
Home Properties owns, operates, acquires, and renovates apartment communities. As of December 31, 2014, the company owned 42,107 apartment units, all of which were in Washington, D.C., Baltimore, Philadelphia, Long Island, Northern New Jersey, Boston, Chicago, and Florida. The company is owned by Lone Star Funds.
The company specializes in acquiring older "Class C" and "Class B-" apartment communities and upgrading them to at least "Class B" quality.[2][3]
History
Home Properties dates back to Home Leasing Corporation, a company founded in 1967 by twin brothers Nelson and Norman Leenhouts.[4]
Home Properties, Inc. was formed in 1993 and, on August 4, 1994, the company became a public company via an initial public offering.[1]
Effective January 1, 2004, Edward J. Pettinella was named President and CEO.[5]
In October 2015, Lone Star Funds acquired the company.[6]
References
- 1 2 3 4 5 6 HOME PROPERTIES, INC. 2014 Form 10-K Annual Report
- ↑ Lupkin, Miriam (May 3, 2005). "There's No Place Like Home". Multifamily Executive.
- ↑ Popovec, Jennifer Duell (April 9, 2013). "Home Properties Does Total Rehab". Multifamily Executive.
- ↑ "University Life Trustee Norman Leenhouts dies at age 81". University of Rochester. January 9, 2017.
- ↑ "Home Properties Names Pettinella President and CEO; January 1, 2004 Appointment to Complete Management Succession Plan" (Press release). PRNewswire. October 29, 2003.
- ↑ "Home Properties Completes Sale to Lone Star Funds" (Press release). PRNewswire. October 7, 2015.