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Home > Company Index > Real Estate > REIT - Residential > Home Properties of New York, Inc.

Home Properties of New York, Inc.
NYSE: HME
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 PROFILE
If your apartment development is ever so humble, Home Properties of New York might be interested in it. The real estate investment trust (REIT) buys "undermanaged" properties and adds amenities to attract middle-income residents. The firm owns all or part of more than 280 communities in about a dozen Northeast, Mid-Atlantic, and Midwest states and provides third-party management to almost 40 more; its total portfolio comprises over 50,000 units. It also manages over 1 million sq. ft. of office and retail space in Rochester, New York. The firm sold its affordable-housing development operations to a former executive, although it still manages an extensive portfolio of government-assisted housing.

 COMPETITION
Apartment Investment and Management Company (AIV)
Avalonbay Communities, Inc. (AVB)
Equity Residential Properties Trust (EQR)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 319.00
1-Yr. Sales Growth: 36.0%
Employees: 2,100
Revenue per employee: $151,904.76

 KEY PEOPLE
• Norman P. Leenhouts
    CEO
• David P. Gardner
    CFO

 CONTACT INFO
850 Clinton Sq.
Rochester, NY 14604
US
Phone: 716-546-4900
Fax: 716-546-5433
Online: Web Site

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