Preliminary Agenda Topics

• Where are rent growth, absorption, and vacancy rates trending across major metros in Arizona?
• Which second-tier markets in the region are seeing the most investment activity or pipeline growth?
• How are developers and investors adjusting to strict building codes, sustainability mandates, and local political pressure?
• How are operators handling insurance cost spikes, wind/ wildfire risk zones, and climate resilience upgrades?
• Are developers shifting focus to build-to-rent or modular construction as a solution to labor shortages and rising material costs?
• What is the latest with new developments?
• Capital markets & investment flows: What’s the current state of capital markets, and where is the money going?
• Land, rates & development challenges: How do land scarcity and elevated interest rates influence new construction and rent growth?
• Vacancy & concessions: What trends are emerging in occupancy rates and lease-up strategies?
• Policy & regulatory outlook: What regulatory changes might be on the horizon under the new administration?

• What types of deals are you interested in? What would you stay away from?
• Would you consider putting out/using preferred equity?
• What about development deals?
• Are AI tools making you approach deal evaluation differently?
• Would you finance as fixed or variable?
• Role of rent control
• What is your exit strategy? Your hold strategy?
• How are you managing your equity?

• What materials are best suited for resisting wildfires, such as fire-resistant cladding, roofing, and windows?
• How are these materials being integrated into new multifamily developments in fire-prone areas like Arizona?
• How green building materials, such as fire-resistant insulation and energy-efficient windows, can also play a role in disaster preparedness.
• The role of technology in proactive maintenance, such as AI-driven monitoring for fire risks or earthquake vulnerability.
• How rising insurance premiums in fire- and tornado-prone areas are influencing construction decisions.
• How evolving legislation impacts construction practices and operational decisions for developers and owners in Arizona and the Southwest.
• Climate change disproportionately affects affordable housing in fire and extreme weather. What is being done to keep them affordable and safe?

• The supply surge vs. rent growth plateau: How is the recent influx of new multifamily deliveries impacting rents, absorption, and investor expectations?
• Financing in a high-rate environment: With interest rates still elevated, what creative capital stack solutions work for multifamily developers and buyers?
• Policy pressures & rent control talk: How are local and state-level housing policy shifts—including renewed rent control discussions—shaping development timelines and investor sentiment?
• Job growth continues, but are developers keeping up with demand for attainable housing? What public-private partnerships or incentives are proving effective?
• Urban vs. suburban investment strategy: Which markets—like northern suburbs and secondary cities infill, are showing the most resilience and opportunity in 2025?

Arizona is currently experiencing substantial population growth, creating a strong demand for multifamily housing. Can the demand be met in the next 5 years?Home ownership is declining and has created a substantial renter pool in the local markets. How are properties incentivizing tenants to rent rather than purchase?Is now the time to heavily invest? Multifamily developments in Arizona show strong returns, but with new capital flowing into the market, is now the ideal time to invest, or are certain regions becoming oversaturated?Arizona’s role as a hub for seasonal workers, training camps, sports tourism, and short-term stays has introduced new dynamics into the rental market. What strategies best serve this fluctuating demand while maintaining long-term stability?Are specific metros—like Phoenix, Tucson, or fast-growing suburbs—leading the charge in multifamily expansion? Where do new developments offer the highest potential returns?How are zoning laws, tax incentives, and infrastructure projects influencing where and how new multifamily developments emerge?What innovations—from AI-driven property management to smart amenities—are setting Arizona’s multifamily assets apart?With a growing labor force, shifting migration trends, and evolving renter preferences, what does the next decade hold for Arizona’s multifamily real estate sector?

• The charm & challenge of vintage assets: How do you assess the unique value of 1960s–1980s properties, especially in neighborhoods where character and location outweigh modern finishes?
• Smart due diligence: What’s required to properly evaluate older buildings—structurally, financially, and operationally—before acquisition?
• Liquidity landscape: What are the current market conditions for trading top-tier assets versus B/C vintage properties?
• Diversification strategy: Should investors pursue a blend of class A and value-add assets to hedge against market shifts?
• Operational costs & property management: What are the hidden costs of managing vintage properties in-house vs. outsourcing, and how does this impact the bottom line?
• With high in-migration and a push for more attainable housing across cities, how do older multifamily buildings fit into the state’s evolving housing ecosystem?

• What to watch for when acquiring from special servicers in the multifamily space
• Risks of buying bankrupt or troubled assets in: What could sink your investment?
• Building a due diligence checklist for distressed multifamily properties — what’s different here?
• Evaluating a 50% occupied building in tight submarkets
• Foreclosures, NPLs, and deeds-in-lieu: How they’re playing out right now
• Are we seeing 2008 déjà vu, or is the Arizona market dynamics rewriting the playbook?
• Are lenders starting to liquidate or still kicking the can down the road?
• Is the buy/sell gap finally closing in urban and small town markets?

• What conditions in Arizona & the southwest area’s multifamily market will trigger renewed buying in 2025/ 2026?
• Which opportunities are most attractive now — urban infill, suburban value-add, small town assets?
• What types of deals are being passed on — and why?
• Would you consider using preferred equity to structure competitive offers in this market?
• Are development deals worth the risk right now?
• Fixed vs. variable financing — what are the capital stack strategies in today’s rate environment?
• Are AI or data tools influencing how you evaluate deals or market timing?
• What’s your expected hold strategy — flip fast or long-term in strong-growth corridors?

• How investors are getting LPs and lenders to commit in today’s cautious capital climate
• Strategies to avoid re-trades and keep deals on track in competitive submarkets
• Partnering with local governments and nonprofits — what works in the policy-driven housing landscape?
• How to persuade owners to meet your price in a state with stubborn valuation gaps
• Under-capitalized assets: How are you maintaining property standards in a tenant-sensitive market?
• Smart financing options: What alternative capital sources are unlocking deals?

• Examining the differences between cap rates on market-rate deals vs. negotiated transactions—how spreads indicate investor sentiment and market stability.
• If rates decline, how will it affect property valuations, financing terms, and investment strategy? What historical trends offer insight into potential market reactions?
• Evaluating the impact of a 4% U.S. Treasury yield compared to past benchmarks—how does this shape pricing expectations and risk appetite for multifamily assets?
• Where are cap rates headed at the local level? Which markets are tightening, and which are offering better entry points for investors?
• How are investors setting exit cap rates for existing assets amid changing economic conditions? What adjustments should be made in underwriting to remain competitive?
• Are cap rate movements signaling a shift in market cycles? How should investors position themselves to capitalize on emerging trends?
• How volatility creates buying windows or risk exposure—what strategies can help mitigate downside risk while optimizing returns?
• How are lenders responding to cap rate fluctuations, and what impact does this have on financing terms, leverage, and investment feasibility?
• What lessons can be drawn from past economic cycles, and how do today’s conditions compare to previous downturns or growth periods?
• Institutional vs. private capital: How are different investor groups adjusting to cap rate movements, and what strategies are being deployed at scale?
  

• How are high interest rates changing the rules for borrowing and refinancing?
• What does today’s capital stack look like, and how are deals still getting done?
• How are LTVs, DSCR expectations, and underwriting standards evolving across banks, insurance companies, CMBS, and private lenders?
• Why is private credit becoming a go-to for middle-market sponsors, and how does it compare to traditional fixed income in terms of yield, risk, and real estate exposure?
• From AI-driven underwriting to predictive risk tools—what platforms are transforming how deals are underwritten and serviced?
• How are policy shifts—rent control, affordability mandates, and housing incentives—affecting lending, deal structure, and risk tolerance?
• Real-world examples of deals that got done creatively—what worked, what didn’t, and why the capital stack matters more than ever.
• What’s the 2025–2026 forecast for access to capital?
• Why is private credit so attractive to mid-market sponsors right now?

• Can you take control? Evaluating the shift from third-party to in-house management
• Cost vs. control: When does self-management become the superior choice?
• Navigating vertical integration: Weighing the pros and cons of self-management
• Choosing the right scope: National, regional, or local management—what’s the best approach?
• The turnaround window: How much time should you give an outsourced manager?
• Beneath the surface: The hidden traits of top-performing third-party solutions
• Performance & incentives: Structuring management for success
• The non-negotiables: What aspects must remain in-house?
• Expanding to new markets: Balancing internal resources with outsourcing
• Labor market realities: Hiring the right people—how workforce trends impact your strategy
• Tech innovations: The latest apps and tools transforming property management

• Comparing classes “A”, “B”, and “C”
• Using facial recognition & other technologies for security and safety
• Do high ROI amenities lead to an increase in resident retention rates?
• What should be in your standard resident benefit package?
• How to strike the right balance between offering premium features and maintaining profitability.
• How amenity expectations shift based on property type and resident demographics.
• The ROI of smart home features, AI-driven security, and touchless access systems.
• EV chargers, co-working spaces & pet amenities: Are they worth the investment?
• Resident retention & amenity strategy: Do high-value amenities lead to longer lease commitments?
• Outdoor vs. indoor spaces: Where should owners and developers prioritize upgrades to maximize resident satisfaction?
• What should every multifamily property include in today’s market?
• Sustainable & wellness-oriented amenities: How eco-conscious features and wellness-driven designs are shaping leasing decisions.

• Which new income streams are you exploring?
• How is your staffing strategy evolving?
• How are you improving the marketing/operations relationship?
• Practical AI, automation & smart building applications
• Tenant retention and rent raising strategies and trends
• How is skyrocketing insurance rates impacting your strategy?
• How much rope do you give regional managers?
• How AI is reshaping staffing needs, from replacements to new positions

• What KPIs matter most now: Engagement, conversion, or lead quality?
• Who is your ideal renter in this region, and how are you truly reaching them?
• Let’s hear what digital campaigns are crushing it (and which ones flopped)?
• Are you promoting the lifestyle, the lease, or the location? What’s getting more clicks?
• Anyone cracked the code on TikTok or Instagram reels for multifamily yet?
• What's your go-to move when you’ve got high vacancy and low traffic?
• How are you balancing automated follow-ups with human connection?
• Community events, gift cards, pop-up tours — what’s bringing the most qualified leads?
• Any success stories using resident referral programs? How are you marketing those?
• Share your favorite headline, tagline, or visual that really moved the needle
• What local quirks or seasonal trends do you lean into when crafting a campaign?

How can influential market players better support the growth of women in the real estate industry? To attract more women into the field and cultivate them as leaders, organizations must invest in targeted initiatives such as promoting visibility for female role models, offering leadership and mentorship training, and creating clear pathways for career progression. This small group meeting encourages an open dialogue about gender biases and embedding diversity as a core business value to transform the market into one where women can thrive and lead.

Are you seeing a price adjustment happening? How are you financing more capital going into

existing properties and new deals? Are you increasing or decreasing staff? These topics will be

among the key themes you and the discussion leaders will discuss in this open discussion

format.

Be in the room where it happens… Join your fellow property managers as they discuss saving money, increasing returns, and managing personnel as the real estate market changes. Don’t forget to bring your questions to the table.