Top real estate development firms

Who would rank as the top real estate development firms in the US? I know it tends to vary by stats but overall which firms control the most market share.

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Comments (37)

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May 9, 2020 - 11:56am

Lord knows WSO loves ranking lists..... but seriously, given that developers tend to focus on both markets and property types, how would you even start something like this?

I mean is really fair to rank a multifamily developer vs. an office developer? Or a NY area focused one like RXR vs. a CA but semi-nationally focused one like CIM Group?

Interested in seeing where this thread goes................

May 9, 2020 - 12:09pm

The first two firms that come to mind are Related and Brookfield. This may be biased as I reside in the new york area. Both these firms develop commercial, multi family, and offices. I'm curious to see what others think and if there are larger companies with a presence in different states.

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May 9, 2020 - 12:22pm
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May 9, 2020 - 2:12pm

Historically the top dev firms are: Hines, Related, Brookfield, Tishman Speyer, Trammel Crow.

Clearly quarantine has made you extraordinarily lazy but the above are usually common knowledge

May 9, 2020 - 4:18pm

Yes but which M7 program will get me there??

“Doesn't really mean shit plebby boi. LMK when you're pulling thiccboi cheques.“ — @m_1
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May 12, 2020 - 4:33pm

You see, it really boils down to a ranking. In this Ted Talk I will explor…

“Doesn't really mean shit plebby boi. LMK when you're pulling thiccboi cheques.“ — @m_1
May 9, 2020 - 2:39pm

In case you don't want click the link (and clearly I'm bored on a Saturday...), here is the list of all firms referenced from the comments:

Hines
Related
Trammell Crow
Tishman Speyer
Boston Properties
Highwoods
Cousins
Crescent Communities
Avalon Bay
JBG
Post Properties
Childress Klein
Jay Paul Company
Duke Realty
Brookfield
Vornado
Edens
Skanska
Toll Brothers
Jamestown
Hillwood
Mill Creek

May 11, 2020 - 9:37am

While I agree with most of these, it's worth mentioning that "Good PR" and "Good Development Shop" aren't the same thing, and there are a TON of real estate developers who sing their own praises/have others do it for them (looking at you, Nate Paul) while not doing particularly well. And there are plenty more who are out there doing awesome deals on a large scale who don't want to be in the press, so you never hear of them.

May 9, 2020 - 9:03pm

RE Development doesn't operate with prestige in mind.

I can name about ten local development shops doing more interesting projects than most that have been listed here and I'm working in an area where a lot of big names have come from.

May 10, 2020 - 4:18am

In my NYC focused opinion and in no particular order:

Silverstein Properties
Brookfield
Related
TF Cornerstone
SL Green
Vornado
Durst
Rockrose
Rudin
Fisher Brothers
Extell
United Construction and Development
Two Trees
Kushner
L&M Development
Avalon Bay
JDS Development
Toll Brothers
Lefrak
RXR

May 11, 2020 - 3:09pm
Armhoo1:

"Spot the one that doesn't belong."

Kushner.

You could make a strong argument that L&M is the odd man out here - as far as I know they're the only active primarily-affordable shop on the list. Related and LeFrak have tons of legacy assets but don't seem to do much with them.

And I know this is going into way more detail than you intended, but JDS could also be singled out as the one firm on here (I think) that hasn't actually survived a recession/market downturn. I mean, they're definitely going under at some point. Stern just puts all his chips on 00 and spins the roulette wheel - he got lucky that the first deal he did hit (Walker Tower); everything since then has ranged from cool but probably no profitable (American Copper) to outright disaster (111 W 57th)

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