Preliminary Agenda Topics

• Capital markets update and money flows
• 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 south and southeast?
• What regulatory shifts can we expect to see under the new Administration?
• Evaluating the buy vs. build decision
• NOI projections
• What’s the latest on evictions?

• Exploring vacancy rates and supply-demand dynamics
• Will the market stabilize in 2026?
• 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?
• What is the forecast for rent growth through the end of the year? 2026?

• 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?
• Are AI tools making you approach deal evaluation differently?
• What will be your hold strategy?

• Are you continuing to see costs rise? How are you managing this?
• What financing options are you seeing for large restoration projects?
• Preventive maintenance in tight times. Where does AI fit in?
• The importance of regular inspections and monitoring and the use of redundancy and backup systems
• Using AI and tech to mitigate potential emergency situations
• Creating a disaster preparedness and response plan
• Using predictive analysis for restoration timelines

• 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
• Balancing must-have amenities, ROI and rent increases

• As office vacancies persist, are conversions a viable option for distressed building owners?
• Navigating regulatory and zoning regulations
• Is financing available for these deals? What do terms look like?
• Reimagining suburbia through the repositioning of obsolete retail and industrial properties
• Separating the residential condo from a retail condo and the financing nuances
• Do the architectural challenges make these conversions cost prohibitive? Is it cheaper to knock it down and build it from the ground up?
• Can conversions make a dent in the lack of multifamily and affordable housing? Especially in urban areas?

• Exploring cap rate spread and market rate deals
• What if interest rates fall?
• How will a 4% U.S. treasury impact cap rates today vs. the past?
• Where are local cap rates going?
• How are you setting exit cap rates on acquisitions of existing product?
• Exploring affordable and workforce housing

• Leasing-side operations: Is it more than answering phones?
• With the increase in efficiency how are you managing employees with more free time?
• Where does human oversight come into play?
• What new roles are being created by AI? What roles are being replaced?
• Best practices for AI use in marketing, advertising and key words
• How are you educating your team and yourself?
• The realities of implementation
• What is coming down the pike? How will your operation be changing in 3-5 years?

• Where are we with rental efficiency software?
• Property management under today’s economic climate
• How are you dealing with an increase in efficient bad actors in the cyberworld?
• How is AI playing a role in current property management strategies?
• Finding residents and workers given the current immigrant climate
• Current recruiting, re-training and compensation trends

• 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
• 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
• 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?

• What are the best leverage rates and financing options in the market?
• Technical defaults, non-payments and workouts: When are lenders taking back properties or forcing sales?
• What kind of refinancing won’t you do?
• Where do you think SOFR and 10-year will be Dec 2025? How will that impact lending rates?
• Financing distressed situations
• Private equity and the capital stack

• How underwriting is changing with rates & full-circle returns
• In what scenarios will you be more aggressive?
• What AI software are you using to propagate or create financial analysis and proformas?
• Impact of current macroeconomics
• How much are you scaling back?
• What kind of risks have you recently mitigated that will improve your income/expense amount?
• Capital expenditures and expense management
• Debt service coverage: How are you ensuring cash flow is sufficient?
• What kind of scenario analysis are you running?

• Getting LPs and lenders on board
• Preventing re-trades
• Working with non-profits and the government
• Convincing the owner to sell at your price
• 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 the wall
• What creative solutions have you used to get a difficult deal across the finish line?

• How much is too much?
• With rents at maximum how much more can you squeeze out of the resident?
• Comparing class “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?

• Putting together your tech stack
• How do you evaluate and manage your partners?
• Evaluating nice to haves and need to haves
• What kind of additional revenue expectations can the implementation of AI result in?
• What technology are you currently evaluating?
• Smart building monitoring
• What kind of risks can AI help to mitigate?
• What is AI’s role in predictive maintenance?
• ROI expectations: Are you costing me or saving me money?

• Resident screening evolution
• Technology tools for fraud detection & prevention
• How have you changed the way you collect payments?
• Are rent payment incentives effective?
• What technology solutions have you recently adapted and are examining?
• What do you do about non-payers?
• When do you kick them out?

• 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

• Given the current elevated rate environment, and reduced senior loan leverage levels, what can borrowers do when their refinancing options don’t meet their current capital stack requirements?
• Using private credit strategies to solve today’s financing challenges
• What options can private credit lenders provide to borrowers who may not meet the tightened criteria of traditional senior lenders?
• How do preferred equity, mezzanine debt and/or high-leverage loans fit into a capital stack?
• Why is private credit particularly appealing to middle-market sponsors?
• Discussion of actual case studies where private credit has been successfully implemented to address sponsor financing needs in today’s market

• Putting a value on the uniqueness of some older buildings
• What kind of due diligence is needed?
• Deep diving on the risk/return profiles and potential appreciation
• Liquidity of top tier and “B/C” assets
• Should you do both? Asset diversification
• What has history shown regarding performance?
• Comparing the costs of running and managing the property or outsourcing
• What amenities are residents demanding?
• Judging the current amenities and high ROI improvements that can be made

• Current exit cap rates for different properties
• The planning stage… How are you maximizing value?
• Refinance or sell?
• Special considerations for those properties in financial distress
• Comparing disposition methodologies
• Partial sales, equity finance and recaps
• What is negotiable?
• What are institutions looking for?

• How are you bridging the gap until you can refinance?
• Extend vs. other modifications
• If interest rates stay higher for longer… What does that mean for you?
• Considering pre-payments
• Long term holders and what it takes to sell
• Bridge loans and takeouts

• What to look for when working with a special servicer
• Investing in bankrupt assets: What can bankrupt you?
• How should you evaluate?
• Digging into the 50% occupied building
• Navigating through NPLs, foreclosures and deeds-in-lieu
• What are the differences in due diligence in the current market?
• What can really come back to bite 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 can you learn from recent distressed sales?

• 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

• Using capital calls to refinance
• Dealing with interest rate caps
• What kind of information are you approaching your lender with? How interested are they with negotiating?
• Are we going to revisit extend and pretend?
• Maturity problems with stabilized, value-added and construction projects
• Dealing with geographic market distress
• With excessive immigration filling up more rental households than usual, has the bottom of the multifamily construction been pulled forward?

• As borrowing costs soar, what can you do if you don’t have enough capital for the deal?
• How technology driven solutions can optimize performance without sacrificing quality
• What can you do to stop the downward cycle of good residents leaving and bad residents coming in?
• The importance of building partnerships with contractors, suppliers and investors
• How do you balance having to fill apartments and lowering rents?

• 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 foo find key people affecting your decision making?
• How has new technology impacted your business? What new apps have you added into your operation?

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 personal as the real estate market continues to change. Don’t forget to bring your own questions to the table.