Connect Apartments 2026

Multifamily has entered a normalization phase after years of outsized growth. Rent increases have moderated, vacancies have risen in select markets, and performance is now being driven more by asset-level fundamentals than macro tailwinds. While long-term demand remains supported by housing shortages and affordability challenges, the near-term story is one of divergence—by market, product type, and execution. This session will set the tone for the day, grounding attendees in where fundamentals stand today and what signals matter most heading into the next cycle.

This closing session brings together top industry leaders for a forward-looking discussion on where multifamily is headed next. As supply slows and long-term demand remains intact, many investors are positioning ahead of the next cycle. The conversation will focus on timing the recovery, deploying capital strategically, and what will separate winners over the next 3–5 years.

As a wave of loan maturities approaches, capital is being deployed more selectively and with greater discipline. Lenders have returned, but underwriting is tighter, leverage is lower, and structure matters more than ever. At the same time, investors are shifting from yield-driven strategies to basis-driven opportunities, often targeting recapitalizations and dislocations. This session will explore how debt and equity are aligning, where transactions are getting done, and how institutional capital is thinking about timing and risk.

The metrics keep ticking upward as more properties become distressed. With trillions of dollars of CMBS set to mature in the next few years, property owners are looking for ways to refinance or exit their investments, buyers are looking for the bottom on pricing and lenders are beginning to apply stricter underwriting even to healthy properties. Our panel of experts will provide their take on the market as this year concludes and into 2027.

After a historic wave of new deliveries, many markets are experiencing short-term supply pressure, particularly in the Sun Belt. At the same time, rising costs and tighter capital have significantly slowed new starts, setting up a potential supply gap in the years ahead. Developers and capital partners are recalibrating pipelines, reassessing where projects still pencil, and watching closely for the right entry point. This session will focus on how supply and demand are evolving —and what that means for the next development cycle.

With rent growth muted, operational execution has become the primary driver of performance. Owners are focused on maintaining occupancy, increasing renewal rates, managing expenses, and using technology to streamline leasing and operations. Concessions have returned in many markets, and operators are balancing short-term leasing velocity with long-term asset value. This session will highlight how leading firms are adapting their strategies to protect and grow NOI in a more competitive environment.

As the multifamily market adjusts to a higher-for-longer interest rate environment, financing strategies continue to evolve. From agency lending and bank financing to debt funds, preferred equity, and structured capital solutions, borrowers are navigating a more complex capital stack than at any point in the last decade. This panel will explore lender appetite, underwriting trends, refinancing challenges, construction financing, and where capital providers are finding opportunities in today's market.