Do Multifamily Leaders truly own the reported units they tout?

[David C.]

This may sound like an odd question, but so many times we hear that (insert name) has gotten up to 1100 units, or has a portfolio containing $400M in multifamily real estate.  But how many of these folks only "co-own" these properties?  

For example, Guru X states that "he/she is up to 1100 units".  Does this mean that they actually own each of these 1100 units themselves, or does this mean that they are involved in multiple deals, where the total 1100 units are actually owned across *all partners* within these deals(thus exaggerating the true ownership of the individual)?  It may seem like splitting hairs, but this certainly makes a difference to me.  Any thoughts?