On October 12, over 475 of New England’s most prominent developers, investors, owners and operators came together to discuss what has become one of the hottest real estate markets in the country at the Marcus & Millichap / IPA Multifamily Forum: New England in Boston. In its third year, this event discussed the urban and suburban rental, condo and mixed-use market across New England and what supply versus demand balance means for multifamily investors, owners and operators. Other topics touched on included the national and regional economic outlook, the debt and equity landscape, new developments and value-add strategies that are paying off. In addition, this year included a keynote from Robert DeWitt, Vice Chairman and CEO of GID and Jack Manning, President and CEO of Boston Capital.

The Marcus & Millichap / IPA Multifamily Forums across the U.S. bring together over 6,000 multifamily owners, investors, managers and developers to create an in-person marketplace for learning, discovery, networking and deal making. The sessions address the major issues affecting the apartment and condo markets today, and the networking allows multi-housing principals to meet, talk and source deals and investment capital.

The third annual Marcus & Millichap / IPA Multifamily Forum: New England was a great success! Over 475 multifamily developers, investors and owners attended on October 12.

Check out the recap from the event and see more pictures here.

7:30 AM – Exhibit Hall & Dining Area

Registration, Networking Breakfast & Exhibit Hall Opens

8:15 AM – General Session

Opening Remarks

Presented by:

• Tim Thompson, Regional Manager, Marcus & Millichap

8:20 AM – General Session

Multifamily State of the Market: National vs New England Markets

Presented by:

• John Sebree, FVP & National Director, Multifamily, Marcus & Millichap

8:55 AM – General Session

Morning Keynote: A Fireside Chat

Moderator:

• John Sebree, FVP & National Director, Multifamily, Marcus & Millichap

Keynote Speaker:

• Robert Dewitt, Vice Chairman & CEO, GID

9:30 AM – General Session

Go Big or Go Home: A Mixed-Use Project Showcase

While other markets are beginning to show signs of a slowdown, Boston is going through a building boom unlike no other. Nowhere is this more evident than the many massive mixed-use projects that are underway throughout the city. Do these mega mixed-use projects such as Boston Landing, Bulfinch Crossing, The Seaport, South Boston, Fenway, Cambridge Northpoint and The Hub on Causeway provide the solution to Boston’s economic growth or are they too much too soon?

• The City of Tomorrow: What do developers see the city’s future looking like?
• Making the Numbers Work: How are developers managing construction cost for such large scale projects?
• The $64,000 Question: How will these projects address the housing challenges the city faces?
• Too Much of a Good Thing: What are these projects doing to avoid additional stress on Boston’s already burdened infrastructure?

Moderator:

• Tim Thompson, Regional Manager, Marcus & Millichap

Speakers Include:

• Greg Bialecki, Principal, Redgate
• Kenan Bigby, Managing Director, Trinity Financial
• David Bois, Principal, Arrowstreet
• Jim Halliday, Managing Director, NB Development Group
• Doug Manz, Partner, Director of Development, The HYM Investment Group

10:20 AM – General Session

One if by Debt, Two if by Equity: Navigating the Flow of Capital into New England Multifamily

Capital is coming into New England at a pace never seen before. As deal flow in other markets begins to dry up, investors are flocking to markets in and around Boston to find their next opportunity. With so much activity, people are beginning to ask questions about the state of the market such as: What asset classes are capital sources looking at, and at what terms? Both equity and debt sources will come together to help provide an answer to those questions as well as the following.

• Through the Looking Glass: Where is capital looking for deals?
• Timing is Everything: Where are we in the cycle?
• Beyond Borders: What are foreign investors looking at in Boston?
• Follow the Money: Where is the capital coming from to finance deals in this market?
• Great Expectations: What are the yields looking like?

Moderator:

• Richard Katzenstein, SVP & National Director, Marcus & Millichap Capital Corporation

Speakers Include:

• Kel Frazier, VP – Acquisitions, Berkshire Group
• Marianne Ganster, Managing Director, AIG
• Dan Nagler, SVP & Director – Capital Markets, Cabot, Cabot & Forbes
• Brian Salyards, Principal, PGIM Real Estate Finance

10:50 AM

Networking Break

11:20 AM – General Session

Creating an Opportunity: How to Succeed in a Competitive Value Add Market

With the cost of ground up construction becoming too high and the lack of availability downtown, investors and developers alike are flocking beyond the city’s limits to find their next deal. Active players, will look to address what’s going on in the “red hot” suburban and Greater New England markets and how investors can succeed in this the ultra-competitive value-add space?

• The Secrets of Success: What are the techniques to achieving the highest ROI?
• Timing is Everything: Where are we in the cycle?
• Standing out in the Crowd: What are brokers/owners doing to differentiate themselves to the investors?
• Getting There and Back: How the future of transportation will affect the market?

Moderator:

• Melissa Butler, Commercial Development Consultant, Caesarstone

Speakers Include:

• Joe Cannon, SVP – Investments, Bell Partners
• Andrew Ginsburg, President – Eastern Region, CityLift
• David Nachman, Principal, Spirit Investment Partners
• Doug Root, Co-Founder & Managing Partner, Blackfin Real Estate Investors
• Josh Solomon, President & CIO, DSF Group

12:05 PM – General Session

Keeping a Competitive Edge: Best Practices in Managing NOI, Technology Integration, and Tenant Retention

In 2017 and 2018, the amount of supply coming to market will add additional burden to what already is a highly competitive rental marketplace. Going forward, cash flow and net operating income management may become increasingly difficult, and lower quality locations / properties may suddenly be harder to keep leased up, at least at today’s rates. What strategies and tactics are best to manage apartment properties in an arguably retracting economic environment?

• Hello, Dave: What technologies and innovations are making buildings smarter?
• Everything but the Kitchen Sink: What are owners doing to balancing tenant retention and concessions?
• The Perfect Balance: How operators need to plan to attract both Millennials and Empty Nesters to the same property?
• Managing your Street Credibility: How to succeed with reputation management?

Moderator:

• Brian Klansky, Regional Director, View | Dynamic Glass

Speakers Include:

• Cyrus Claffey, Chief Executive Officer, Butterfly MX
• Dan Copeland, VP – Operations, Mill Creek Residential Trust
• Brad Hamel, SVP – Operations, Alliance Residential Company
• Charles Schoenau, Managing Director, Insurent
• Pradip Tandon, Chief Financial Officer, Acorn Holdings

12:45 PM – General Session

Building a Better Tomorrow: Overcoming Boston’s Development Challenges

As Boston grows, developers, architects and city planners are facing new challenges and trends that are affecting how and where the build. Whether it’s dealing with rising cost, transportation and parking issues and changing tenant habits, builders are discovering better ways to deal with these important issues. What is the city doing to address these development challenges and how are developers planning for the future?

• Out of the Shadows: What do new rules on height restrictions mean to the future of the Boston high rise?
• Developing a Better Bottom Line: What are developers doing to keep cost down?
• Solid Foundation: What are the key economic drivers’ developers need to know?
• Just Around the Corner: What neighborhoods are underdeveloped?
• Park Your Car: What are some best practices in repurposing parking spaces?

Moderator:

• Sue Hawkes, Managing Director, The Collaborative Companies

Speakers Include:

• Thomas Alperin, President, National Development
• David Chilinski, Co-Founder & President, PCA
• Stephen Davis, VP – Development, The Davis Companies
• Matt Edlen, Director – Acquisitions & Development, Gerding Edlen
• Nicholas Iselin, General Manager – Development, Lendlease

1:20 PM

Networking Lunch

1:35 PM – Lunch Workshop

New Trump Administration Updates: Federal, State and Local Energy & Specialty Tax Incentives

The presentation is designed to provide New Trump Administration Updates to Federal, State and Local Energy & Specialty Tax Incentives and provide clarity to the design, qualification and certification process to maximize results and cost savings on Purchases, Renovations, Improvements and New Construction projects. During this presentation, you will be able to understand how to capture and best utilize Cost Segregation, Energy Tax Credits (like 179D for commercial buildings and 45L tax credits for residential and multi-family projects) on a local and national scale.

Presented by:

• Michael D’Onofrio, Managing Director, Engineered Tax Services

2:05 PM – General Session

The Great Migration: What’s Happening Beyond Boston’s City Limits?

Investors and developers alike are seeing markets throughout New England as an untapped opportunity. As Millennials get older, how are developers planning for their eventual return to the “burbs”? National and local developers will address key questions such as:

• What’s Old is New Again: How can developers “re-invent” the suburbs?
• Throughout the Colonies: What markets in Greater New England are showing the most activity?
• Bringing the City with Them: What are developers doing to retain their prized tenants as they get older?
• Beyond 128: Where are investors looking for deals throughout New England?
• All Aboard: How is transit-oriented development creating opportunities in new areas?

Moderator:

• Mark Hickey, Market Economist, Costar

Speakers Include:

• Jim Lambert, Director, Wood Partners
• Sal Lupoli, Founder & President, Lupoli Companies
• Jacqueline Nuñez, Owner, WonderGroup
• Lars Unhjem, VP – Development, Mill Creek Residential

2:40 PM – General Session

Afternoon Keynote

Moderator:

• Larry DiCara, Partner, Nixon Peabody

Speaker:

• Jack Manning, Chairman & CEO, Boston Capital

3:10 PM – General Session

Closing Remarks

Presented by:

• Tim Thompson, Regional Manager, Marcus & Millichap

3:15 PM

Refreshments & Networking