On December 8, over 400 multifamily investors, owners, developers, financiers and other industry principals and deal makers attended the 3rd annual Marcus & Millichap / IPA West and Central Florida Multifamily Forum. Over 40 of the most active and innovative multifamily leaders explored the current state and future outlook of this booming region including: supply versus demand, creative solutions to controlling costs, safe proofing your investment against economic shifts. Plus, explored raising capital today, effective apartment operations and the latest in new development and value-add projects.
The Marcus & Millichap / IPA Multifamily Forums across the U.S. bring together over 6,000 multifamily owners, investors, managers and developers annually 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.
Attendees discovered these key objectives from this year’s conference:
VP – Development
The Related Group
7:30 AM – Exhibit Hall & Dining Area
Registration, Networking Breakfast & Exhibit Hall Opens
8:30 AM – General Session
8:40 AM – General Session
National vs. West & Central Florida Multifamily Market Update
9:15 AM – General Session
9:45 AM – General Session
Blue Skies Ahead: High Profile New Developments
Multifamily developers and investors alike are attracted to West and Central Florida because it has been a phenomenally good story – with strong job growth, rent growth and new unit absorption rates. The region also sports some of highest occupancy rates of all time. Many multifamily developers are focused on high density urban infill while others are focused on lower density suburban development. As whispers of economic uncertainty grows, the questions become: Will strength of the regional markets continue? If these change for the worse, what decisions should be made now in regards to future development plans and product choices?
11:15 AM – Concurrent Track A
Treasure Fleet: Debt, Equity & Funding Alternatives when Raising Capital Today
Debt and equity capital for real estate deals is not as easy as to come by as it once was. Banks are tightening up considerably on construction lending, while debt for non-construction deals has also become increasingly challenging. With continued international turmoil, the election of a new president, and clear economic uncertainty, multifamily owners, investors and developers are concerned interest rates may go up and it may become nearly impossible to do deals as well as drive up the cost of refinancing. What do the next three to five years have to hold for equity providers and lenders, and what alternative options should you consider to ensure you raise/re-raise the necessary capital you need?
11:15 AM – Concurrent Track B
Feeling the Heat: Controlling Construction Costs through Management & Design
Land prices and construction costs continue to rise, causing multifamily developers to be concerned with how to ensure their deal still pencils out. Meanwhile, we are also seeing increasing complexity and sophistication in the scale, design, product mix, and amenities required for a project to succeed. In an environment of rising costs, how do you balance the need to deliver top notch amenities and more complex building design with budget constraints needed to meet return expectations?
12:05 PM – Concurrent Track A
Hidden Treasures: Value-Add Redevelopment and Emerging Submarkets across West & Central Florida
With developers and investors carefully watching the supply and demand inventory, some multifamily owners are beginning to admit Class A apartment demand may be saturated. With projections that the economy will likely weaken, many multifamily investors and developers are faced with sitting on the side lines or pivoting. What opportunities remain across West and Central Florida that may be underserved or undervalued?
12:05 PM – Concurrent Track B
Batten Down the Hatches: Revenue Growth & Cost Cutting Strategies for Multifamily Owners & Operators
As the tide begins the turn, owners and operators are increasingly seeking innovative ways to achieve their goals through improved management. Should rental prices peak, now is the time to explore new revenue streams to help offset any future decline. What are the newest ancillary services residents are willing to pay for even if wage growth and subsequent rental growth stall? Where can you reduce costs further to ensure you are operating at peak performance?
1:05 PM – Lunch Workshop
Maximize ROI & Increase Cap Rates: Specialty Tax Credits & Energy Incentives
1:45 PM – General Session
Refreshments & Networking
Founded in 1971, Marcus & Millichap is a leading commercial real estate brokerage firm focusing exclusively on investment sales, financing, research, and advisory services, with more than 1,600 investment professionals in offices throughout the United States and Canada. The firm has perfected a powerful property marketing system that integrates broker specialization by property type and market area; comprehensive investment research; a long-standing culture of information sharing; relationships with the largest pool of qualified investors; and state-of-the-art technology matching buyers and sellers. In 2015, the firm closed 8,715 transactions with a sales volume of approximately $37.8 billion.
Institutional Property Advisors (IPA) is a unique platform created to support the needs of institutional and sophisticated private investors. IPA is centered around a select national network of institutionally qualified brokerage professionals and supported by a robust technology platform and highly regarded research. IPA’s unique combination of real estate investment expertise, industry-leading technology, superior support services and acclaimed research will offer customized solutions for the acquisition and disposition of institutional multifamily properties and portfolios.
Adivo Construction Corp. is a national construction management and general contracting company headquartered in Deerfield Beach, Florida. We specialize in the value-added renovation and rehabilitation of apartment complexes. Adivo Construction has completed projects in Arkansas, Florida, Georgia, Indiana, Kansas, Michigan, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Our services include interior renovations, full/partial unit upgrades, exterior renovations and amenity improvements. Adivo Construction has mastered the art of the “turn” in the apartment complex market. Our management expertise in scheduling and logistics maximizes asset down time and interferences with existing tenants. While working in a professional and timely manner, we strive to provide the most cost effective products and services to all of our clients. Because of our desire to be the best in the industry, we always provide attention to detail in an effort to maximize our client’s efficiency and return of an asset.
BankFinancial is uniquely, obsessively self-critical. Even though we’ve been in business for over 75 years we have no desire to be who we were 2 years ago – much less 5 years ago. That’s because we’re constantly reassessing how we can perform for our customers, looking for better ways to improve what we can offer them.
WE’VE GROWN. Today we have 19 locations and assets of over $1.4 billion. Along with traditional personal and business banking options you’ll find Investment, Insurance and Trust solutions. In addition to traditional brick and mortar locations you’ll find electronic banking solutions that let you manage your money anytime, anywhere.
WE EVEN THINK ABOUT TECHNOLOGY DIFFERENTLY, fostering a spirit of creative problem-solving to adapt technology when it can make a clear and powerful difference. To remove barriers. Increase efficiency. And help customers just like you achieve their version of success. And we’ll continually monitor it to ensure it’s as useful as it can be.
The first choice in defeasance since 2000. Our expertise in securities structuring-execution and exceptional pro-active transaction management saves time and money and allows the borrower, broker and legal counsel to focus on the sale or refinance with complete confidence that the defeasance will close on schedule – ahead of any rate lock expiration or sales contract deadlines. Every transaction, large or small, is as important to us as it is to our customer. We provide accurate free cost estimates and consultations tailored to the specific transaction and maintain offices in Charlotte, Los Angeles, and New York to provide our customers with the best service and defeasance experience available.
Commercial Defeasance is a portfolio company of QuietStream Financial, based in Charlotte NC. QuietStream Financial serves commercial real estate owners, investors, borrowers, and related professionals through a portfolio of innovative businesses which address investor management, online investor portals, crowdfunding platforms, CMBS underwriting, defeasance, marketing, and other alternative asset management services.
Engineered Tax Services (ETS) is a nationally licensed engineering firm with extensive experience in engineering-based specialty tax services yielding substantial tax incentives for companies of all sizes. ETS is one of the only qualified engineering firms with its own Professional Engineers, LEED Accredited Professionals, Certified Public Accountants, and Licensed Contractors on staff. ETS provides a full range of specialty tax incentives for real estate professionals including Cost Segregation, 263(a) Repairs vs. Capitalization, Disposition Studies, 179D EPAct, 45L, Utility Rebates and Refunds, Energy Audits, Modeling, and LEED Certifications. ETS averages over $44 million per month in refunds for clients, equating to hundreds of studies nationally. ETS is committed to providing the highest level of service and attention to detail in order to realize maximum benefits and ensure compliance of IRS guidelines. For more information, please contact us Engineered Tax Services at 800-236-6519 or visit www.engineeredtaxservices.com.
Investor Management Services is a member of the QuietStream Financial family of commercial real estate services and technology companies. Investor Management Services offers cutting-edge software that helps commercial real estate owners attract, engage, and manage their investors and projects. The platform features investor dashboards, document management, investor communications, electronic document execution, and live customer service with more features and enhancements on the way. Learn more at www.investormanagementservices.com.
L.R.E. Ground Services specializes in soil stabilization and foundation repair. L.R.E.’s services include auger cast piles, helical piers, underpinning, compaction grouting, chemical grouting, concrete re-leveling and much more. L.R.E. has operated under the same family ownership since 1989. Conveniently located near Central Florida in the city of Brooksville, L.R.E. works carries out pre-construction and retrofit projects throughout the entire state. Some of L.R.E.’s higher profile projects include MacDill Air Force Base, Busch Gardens and Progress Energy, among others. A proud partner of the Tampa Bay Lightning, L.R.E.’s formula for success includes communication, competitive pricing, efficiency, strong safety guidelines, timely estimating, training and teamwork!
Mohawk is a leading supplier of flooring for builder, residential, commercial, and multifamily applications. Founded more than 130 years ago, Mohawk has grown into the world’s largest flooring manufacturer with a complete selection of carpet, cushion, ceramic tile, laminate, hardwood, stone, vinyl, and rugs. As a result of Mohawk’s commitment to continuous innovation and improvement, Mohawk always excels in delivering the best selections of styles, textures, patterns and colors that satisfy the design preferences and performance needs of consumers. Headquartered in Calhoun, Georgia, Mohawk employs more than 20,000 people in the United States.
With offices positioned along the Gulf Coast from Texas to Florida, Phelps Dunbar is a regional law firm of more than 260 attorneys uniquely equipped to serve clients in the major commercial centers of the burgeoning “Third Coast” of the United States. Our real estate practice offers extensive, full service counsel in various real estate matters. We routinely represent large or emerging commercial and industrial developers and other property owners, commercial, retail and industrial lessors and tenants, and banks and investment banks, in a wide variety of real estate transactions. By virtue of our broad experience, we focus on creative problem-solving for our clients, in a cost effective, responsive and professional manner. Phelps Dunbar has office locations in New Orleans and Baton Rouge, Louisiana; Jackson, Tupelo and Gulfport, Mississippi; Houston and Dallas/Fort Worth, Texas; Tampa, Florida; Mobile, Alabama as well as Raleigh, North Carolina; and London, England.
ReadyCap Commercial is a non-bank lender offering small-balance commercial real estate financing from $750,000 to $10,000,000 nationwide. We consider the total picture of the borrower and transaction, offering a diverse array of loan products and terms, with an efficient process and quick closings. Our highly experienced commercial lending team delivers hands-on service to our customers, which include mortgage brokers, bankers, borrowers, investors and other lenders. Each borrower and every project is unique – that’s why ReadyCap takes a flexible, common-sense approach to financing commercial real estate. Tell us your scenario – we are eager to review your lending needs.
With five-nights-per-week doorstep trash and recycling collection, Valet Waste helps our partners create exceptional living experiences on their properties.
Since 1995, our proven and efficient systems have been the industry leader in multifamily. Today, Valet Waste services over 800,000 units and represents over 450 management companies and ownership groups nationwide.
Our doorstep collection and Maintenance Plus porter services help boost resident retention, enhance maintenance efficiencies, improve curb appeal and increase net operating income.
Let us show you how we can help set the new standard for amenities and services in the communities your residents call home.
Weller Residential is a multifamily real estate investment and property management company combining deep local expertise with a national field of view in order to maximize return on investment while minimizing risk for its investors. Weller achieves this through its integrated platform guided by its senior executive team with seasoned experience in acquisitions, development, finance, construction, asset management and property management. Weller focuses on the expectations and needs of its residents and local business partners. Weller strives to consistently provide well located, well maintained, and well serviced communities offering the best apartment living options throughout the Tampa Bay area. Weller appreciates and understands the importance of where its residents call home. Liv Well. Liv Weller.
KossREsource.com provides networking tools, a commercial real estate financing search engine, free CRE property listing service, and a comprehensive CRE events calendar. Unlike other online communities, Koss REsource is only for CRE people.
Founded in 2011, The News Funnel has become the largest real estate news aggregator and content platform in the industry.
For real estate professionals, The News Funnel saves time by eliminating the need to search for relevant news. We gather trade news and information from thousands of trusted media sources and real estate companies and distribute it to professionals in a free customized news feed.
For real estate companies, The News Funnel offers an unparalleled news distribution platform that enables them to reach their target audiences for free. Companies on The News Funnel have the ability to upload and distribute their press releases, videos, blogs, events and market research reports directly to News Funnel subscribers and to dozens of 3rd party sites via our free content syndication network.
The News Funnel was founded by Michael Beckerman, a 25-year veteran of the public relations industry and author of the Second Time Around blog. Michael was previously the founder and CEO of Beckerman Public Relations and Chairman of Antenna Group, two of the largest independent agencies in the country. He is now CEO of The News Funnel and is responsible for the site’s overall vision and day-to-day operations.