Home Properties was a real estate investment trust that invested in apartments. As of December 31, 2014, the company owned and operated 121 apartment complexes with 42,107 apartment units, all in Washington, D.C., Baltimore, Philadelphia, Long Island, Northern New Jersey, Boston, Chicago, and Florida. The company was acquired by Lone Star Funds in 2015 and dissolved.
The company specialized in acquiring older "Class C" and "Class B-" apartment communities and upgrading them to at least "Class B" quality.
History
Home Properties dates back to Home Leasing Corporation, a company founded in 1967 by twin brothers Nelson and Norman Leenhouts.
Home Properties, Inc. was formed in 1993 and, on August 4, 1994, the company became a public company via an initial public offering.
Effective January 1, 2004, Edward J. Pettinella was named president and CEO.
In October 2015, Lone Star Funds acquired the company.
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