Home Properties

Home Properties
IndustryReal estate investment trust
Apartments
PredecessorHome Leasing Corporation
FoundedNovember 13, 1993; 32 years ago (1993-11-13)
FounderNelson B. Leenhouts
Norman P. Leenhouts
FateAcquired by Lone Star Funds and dissolved (2015)
Headquarters
Rochester, New York
Revenue$0.671 billion (2014)
$0.189 billion (2014)
Total assets$4.488 billion (2014)
Total equity$1.653 billion (2014)
Number of employees
1,200 (2014)
Footnotes
Former headquarters in downtown Rochester, New York

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 in 2015 by private equity firm, Lone Star Funds.

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.

On January 1, 2004, Edward J. Pettinella took over as president and CEO.

In October 2015, Lone Star Funds acquired the company in a $7.6 billion deal.

References

  1. 1 2 "HOME PROPERTIES, INC. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 "Lone Star to acquire Home Properties in $7.6bn deal". Financier Worldwide. 2015-06-30. Retrieved 2026-10-21.
  3. 1 2 "Lone Star Funds to buy Home Properties for $7.6 billion, including debt". Reuters. 2015-06-22. Retrieved 2026-10-21.
  4. 1 2 Gorbman, Randy (2015-06-22). "Home Properties To Be Acquired By Private Equity Firm". WXXI News. Retrieved 2026-10-21.
  5. ↑ "University Life Trustee Norman Leenhouts dies at age 81". University of Rochester. January 9, 2017.
  6. ↑ Lupkin, Miriam (May 3, 2005). "There's No Place Like Home". Multifamily Executive.
  7. ↑ Popovec, Jennifer Duell (April 9, 2013). "Home Properties Does Total Rehab". Multifamily Executive.
  8. ↑ Connor, Megan E. (December 12, 2003). "Feeling right at home as chief executive". Rochester Business Journal.