Preliminary Agenda Topics

• Growing demand for affordable, quality Class B and C units as renters seek alternatives to rising Class A rents.
• Investors are targeting mid-market assets for stable cash flow amid luxury market volatility.
• Sustainability Focus: Mid-market projects are incorporating green building standards and energy-efficient features to meet demand for sustainable living.
• Property management software, smart home tech, and AI-driven systems are improving efficiencies and tenant satisfaction in mid-market properties.
• How are investments and federal incentives addressing Denver and the Mountain States cities affordability crisis?
• Why are vacancy rates high in mid-tier properties, and what’s the rent growth forecast for 2025-2026?
• Key strategies for funding acquisitions vs. developments in a shifting market.
• Are rising interest rates and high construction costs squeezing margins
• Mid-Tier Property Struggles: Vacancy rates in mid-tier properties remain stubbornly high, with tenants showing a preference for either luxury units or more affordable options outside urban cores.
• The current environment of higher interest rates and economic uncertainty is reducing liquidity and complicating distressed asset deals, leading to more cautious investment behavior

• Why is the Denver housing market so unaffordable?
• Exploring the impacts of the Colorado Housing Authority Investments
• Using federal incentives and tax credits. How have these incentives impacted apartment valuation?
• Learning from other markets where affordable housing has been implemented
• What innovations in Denver have been used to make the city so successful in increasing affordable housing units?
• Can conversions make a dent in the lack of multifamily and affordable housing? Especially in urban areas?
• The importance of essential and workforce housing
• Are micro communities a proper solution?
• How can the market get involved?
• Exploring collaboration among public, nonprofit, philanthropic, and private sectors
• Adaptive reuse and office conversions

• Exploring vacancy rates and supply-demand dynamics
• Will the market stabilize in 2026?
• How are submarkets outside of Denver and beyond positioned?
• Funding acquisitions vs. developments
• How local demographics and economic conditions are impacting investor decisions
• How can developers and investors navigate a complex environment around shifting resident preferences and evolving market conditions?
• Flight to quality vs. buying the 60s-80s vintage product
• What is the forecast for rent growth through the end of the year? 2026?

• What cities and submarkets are in favor?
• What are you seeing from a vacancy and concession standpoint?
• Are private equity funds with capital to deploy starting to look more seriously at new construction and development deals?
• Where is rent growth in the Mountain States?
• What regulatory shifts can we expect to see under the new Administration?
• Evaluating the buy vs. build decision
• Where are local cap rates going? Where will cap rates on Class B apartments be in December 2025?
• NOI projections
• What’s the latest on evictions?

• What to look for when working with a special servicer
• Investing in bankrupt assets: What can bankrupt you?
• As office vacancies persist, are conversions a viable option for distressed building owners?
• Digging into the 50% occupied building
• Technical defaults, non-payments and workouts: When are lenders taking back properties or forcing sales?
• Hold, sell or refinance?
• Navigating through NPLs, foreclosures and deeds-in-lieu
• What are the differences in due diligence in the current market?
• Non-traditional exit strategies: Ensuring your price in a market with limited liquidity
• If interest rates stay higher for longer… What does that mean for you?
• When will lenders start to sell or are we back to extend and pretend?
• Is the buy/sell valuation gap starting to narrow in general? Specific markets or sub-assets?

• What will it take to get you off the sidelines?
• What types of deals are you are looking for? What would you shy away from?
• Would you consider putting out/using preferred equity? Private capital?
• What about development and new construction deals?
• Would you finance as fixed or variable?
• In what scenarios will you be more aggressive?
• Getting LPs and lenders to sign on
• Are AI tools making you approach deal evaluation differently?
• What will be your hold strategy?
• Alternative equity sources: Which path should you take?

• Per unit operating costs: What is the real inflation you are expecting? How much in rent increases are you budgeting? Resident renewals?
• What are you monitoring the most on the construction/rehab side?
• Where did the budget blow through your expectations last year?
• Managing renovations and repairs with the use of AI
• What financing options are you seeing for large restoration projects?
• Are you planning for amenity upgrades? How are you managing increased costs for these upgrades?
• Budgeting for vacancy and turnover costs as you raise rent
• Rent collection best practices
• What kind of data-driven decisions has AI been helping you with?
• Capex: When to spend and when to defer
• Operational expenses: Where are you budgeting the greatest increases?

• As deliveries stabilize, what can owners and operators expect regarding rent increases?
• Is a rent increase with the risk of increased vacancy rates?
• Understanding Lease Agreements: Using fixed-term leases and month-to-month leases
• Aligning development with market needs and focusing on targeted renovations of older properties
• Strategies for potential interest rate reductions
• Incentivizing resident retention through lease flexibility and incentives
• What can you do to stop the downward cycle of good residents leaving and bad residents coming in?
• Balancing must-have amenities, ROI and rent increases

• How much is too much?
• With rents at maximum, how much more can you squeeze out of the resident?
• Comparing classes “A”, “B”, and “C”
• Different demographics, different amenity expectations
• EV chargers: What is the ROI?
• Using facial recognition & other technologies for security and safety
• Do high ROI amenities actually lead to an increase in resident retention rates?
• Outside space, inside common areas, and private space: Where should you be investing?
• What should be in your standard resident benefit package?

• What economic and operational factors have impacted the Denver market?
• How do property location, economic conditions, income-to-rent ratios, and property management contribute to rising debt issues?
• What strategies related to property management, timely rent collection, and strict enforcement of lease terms can be used to mitigate bad debt?
• How are investor activities influencing eviction rates in the Denver market? What neighborhoods with increased investor purchases are seeing spikes in evictions?
• Exploring rental application fraud and what can be done to minimize Landlord ethics around rent disputes and credit score

• Cost vs. control: What does it take for the balance to slant towards third-party or in-house?
• Pros and cons of vertical integration or self-management
• National, Regional or Local Management: Which way to go?
• How much time do you give a third-party manager to turn things around?
• What do the best outsourced solutions have in common beneath the surface?
• Incentives and performance: What do they look like?
• But I won’t do that…What are you keeping in-house no matter what?
• Investing in new regions: When do you use your own staff vs. outsource?
• How are the labor market and the ability to find key people affecting your decision-making?
• How has new technology impacted your business? What new apps have you added to your operation?

• How are top operators improving resident satisfaction and lease renewals in a high-rent, high-vacancy climate?
• What’s helping large operators manage expenses in the face of inflation, insurance hikes, and increased repair costs?
• What KPIs and tools are driving operational strategy today—especially across multi-state portfolios?
• Which upgrades are helping lease-up or retain residents—and which are falling flat?
• Are managers shifting focus between value-add, stabilized, and lease-up assets in different metros to hedge risk?
• How are you approaching insurance renewal negotiations across multiple assets to protect margins?
• What strategies are you using to hit ESG goals without sacrificing NOI?

• When does institutional capital take a chance on a middle market owner?
• Getting LPs and lenders to sign on
• Exploring single owner structures, fund formations, joint ventures and syndications
• What is today’s equity cap stack looking like?
• Administrative burdens around different types of investors
• Are you considering using private credit?
• Getting lenders to lend to equity with little skin in the game
• Alternative equity sources: Do you need someone to help you find them?
• Your investment expertise and how that impacts your equity
• Funding acquisitions vs. developments

• How are you improving margins and ROI?
• How are you controlling costs while minimizing churn?
• What are some of your best practices for increasing operational efficiency that you would like to implement but haven’t been able to yet?
• Have you been going more conservative with expense/capex underwriting? What are your NOI assumptions?
• What kind of risks can AI help to mitigate?
• Improving data collection, communications, reporting, and analysis & the technology out there to assist
• Building your tech stack: Prioritizing tools, vendors, and integrations that deliver
• How AI is reshaping staffing needs, from replacements to new positions
• Cost savings, revenue potential, and innovative budgeting strategies
• Predictive maintenance, risk mitigation, and intelligent building systems

• How are interest rates and economic conditions impacting lender and borrower strategies?
• Forecasting future market conditions: Potential shifts in lender sentiment, and strategies for navigating a potentially prolonged period of market uncertainty
• Exploring the role of banks, insurance companies, CMBS, and private lenders in the current multifamily debt market
• How unpredictable interest rates are affecting loan terms, refinancing, and debt servicing
• Technology: Exploring digital platforms, AI, and data analytics, and how they are transforming loan origination, underwriting, and asset management
• How do preferred equity, private credit, mezzanine debt, and/or high-leverage loans fit into a capital stack?
• What changes are we seeing in LTV ratios, DSCR, and underwriting practices in today's cautious market?
• Examining the increase in distressed assets and the strategies lenders are using to manage defaults, workouts, and foreclosures
• What is the influence of regulatory changes, rent control, and housing policy on multifamily debt financing?
• Occupancy rates, rent growth, and demographic trends, and their influence on lending decisions and debt availability

• Getting LPs and lenders on board
• Preventing re-trades
• Working with non-profits and the government
• Convincing the owner to sell at your price
• How owners are tackling issues with limited loan advances, increased capital expenses, and funding challenges
• How partnering with a nonprofit can unlock tax exemptions and improve deal economics
• Underwriting a development proforma: What is changing?
• Is AI, data forecasting, and predictive analysis making your decision-making easier?
• What kind of alternative financing solutions should you keep in your back pocket?
• Due diligence issues that can cause a deal to hit a wall
• What creative solutions have you used to get a difficult deal across the finish line?

• How are you improving margins and ROI?
• How are you controlling costs while minimizing churn?
• What are some of your best practices for increasing operational efficiency that you would like to implement but haven’t been able to yet?
• How much does property management cost internally? Externally?
• Have you been going more conservative with expense/capex underwriting? What are your NOI assumptions?
• Preventive maintenance in tight times. Where does AI fit in?
• Improving data collection, communications, reporting and analysis & the technology out there to assist
• Managing a portfolio with performance tracking and AI

• How are owners bridging the cash flow gap while waiting to refinance in a tighter lending environment?
• Extend, Amend, or Exit: Which loan modification paths are working today?
• The 'Wait & Fix in ’26' strategy: How are investors managing underperforming 2021–2022 vintage deals in the evolving market?
• Weighing the cost of prepayment penalties vs. repositioning — what’s worth it in this market?
• How do you hit your sale price target when liquidity is drying up?
• Are bridge loan takeouts still viable across the Mountain States?

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 discussed by you and the discussion leaders in this open discussion format.

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.

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 continues to change. Don’t forget to bring your own questions to the table.