Middle-Market Multifamily (Southeast)
Atlanta, GA
November 18 - 19, 2019

Description

IMN is pleased to announce the original edition of our Middle-Market Multifamily Forum will move to Atlanta, GA on November 18-19, 2019.

With a program uniquely targeted to both small and mid-sized owner/operators, IMN is excited to offer a deep dive into all of the issues, opportunities, strategies and trends impacting this group that comprises 75% of all multifamily investors. Hallmark discussions include Value-Add Strategies, Working with Institutional Capital and the famed Acquisitions Shark Tank. Led by distinguished industry experts, these discussions provide attendees with the knowledge and resources required to make well-informed business decisions.
 
Each edition of IMN’s Middle-Market Multifamily franchise attracts an average of over 500 registrants – over 60% of which are categorized as small and mid-sized multifamily owners – and between 30-40 sponsors/exhibitors, ensuring delegates have ample opportunity for networking and business development.

We look forward to seeing you November 18-19 in Atlanta, GA!
 

Who Should Attend
  • Small & Mid-Sized Apartment Owners/Operators
  • Service Providers
  • Brokers
  • Lenders
  • Vendors

Conference Highlights

Networking Tutorial

    Platform Introduction

    LOADING MEDIA...

    Getting Started

    LOADING MEDIA...

    Updating Personal Info

    LOADING MEDIA...

    Updating Demographics

    LOADING MEDIA...

    Searching By Name/Company

    LOADING MEDIA...

    Filter By Demographics

    LOADING MEDIA...

    Send Invitation

    LOADING MEDIA...

    Accept Invitation

    LOADING MEDIA...

    Messaging Connections

    LOADING MEDIA...

    Post Conference Content

    LOADING MEDIA...

My Agenda

  • To view your agenda you must be signed in Sign-In

Agenda

    Preliminary Agenda

      The Economy-Assessing Local Market Risk, Neighborhood Cycles & The Politics of Multifamily

      • • Is the rent vs. buy decision changing
        • Demographics & housing: Any shifts as millennials start to form families to the suburbs or are they staying in higher density areas?
        • Affordability: Looking today vs. other the past
        • Where are the population and job growth?
        • The presidential election with one year to go: What may change in 2020? How to prepare?
        • Potential pitfalls out there
        • Class A,B,C: Which class will out-perform?
        • Tariffs: How much of the construction cost rise is due to them? Any inside news?
        • Is the homeownership gap going to influence the Fed's future plans
        • Impact of the single-family rental market

      Emerging Neighborhoods: Identifying New & RE-Gentrifying Markets Early On And Identifying The Best Strategies To Enter Them

      • • Finding entitlements and land
        • Can you buy below replacement costs in these markets?
        • Working with rent control laws
        • Public & Private partnerships
        • Pushing back on community resistance: The politics and relationships you need for success
        • Opportunity zone markets
        • Can you bet on a re-zoning?
        • Is mixed-use the way to go?
        • Following immigration patterns

      Preparing Today For Tomorrow’s Apartment Of The Future And The Impact Of Technology Game Changers

      • • Your property management app: What is needed?
        • Tenant automation: Where are you creating efficiencies?
        • Which amenities would “B” and “C” tenants pay for?
        • What is the #1 product that saves the owner the most money?
        • IOT in 5 years
        • What are the questions you should ask before buying technology?  

      What Are Your Keys To Survival & Growth In A Market With Flat Or Declining Rental Rates? How Are You Zigging While Others Are Zagging?

      • What markets are you investing in that others aren’t? What kind of out-of-favor product do you like? What are you doing on the operational side that is unique? See how panelists are marching to the beat of different drummers during this discussion
        • Thriving in a market with declining rent rates
        • What markets are you expanding in as others leave? Exiting while others are entering
        • Do you see value in smaller, non-institutional buildings? Non-institutional cities?

      The Large Institutional Apartment Owner Panel

      • • Working with and capitalizing smaller JV partners
        • Playing in any o-zones?
        • What do you look for in a value-added deal? Repositioning?
        • Putting out equity and debt: What are you looking for?
        • Solutions to yield-compressed markets
        • Are you looking at new construction?
        • How to approach with a deal?
        • How are you reacting to the latest macroeconomic news?

      Family Office Plenary

      • • Marketing to & developing a relationship with
        • Structures that you are comfortable with
        • Gains & losses and regulatory changes
        • Owning multifamily directly: What is your strategy?
        • Financing apartments: What do you like?
        • Joint venture partnering: What are your terms?
        • As prices rise… How is that impacting your strategy?
        • Looking at any niche multifamily sectors?

      Historic Returns Of Different Multifamily Sub-Asset Types

      • • Expansion vs. contraction: How much profit & loss is made during good vs. bad years?
        • Education? Medical? Military?: Which sectors are good for multifamily? 
        • Investment Strategy vs. Demographic Trends
        • Current asset performance trends: How do they look vs. the past?
        • Risks going forward
        • When affordability becomes an issue

      Tax Strategies: Getting The Most Bang For Your Buck

      • • CRA & Other-Tax-Advantaged programs
        • Cost segregation, depreciation, bonus depreciation, and depreciation recapture
        • 1031 exchanges and reverse exchanges
        • Workforce housing incentives
        • Making green incentives pay off
        • Local tax changes you must know
        • The latest changes in the tax world 

      Accepting Lower Yields vs. Changing Your Strategy vs. Staying The Course

      • • Getting outbid for all your deals?  Impact of higher prices
        • Exit cap and rent growth impact
        • As institutions are entering smaller markets that you are in you are…
        • Relying on the market growth for returns: Still an effective strategy?
        • Do you need to kiss more frogs to get that prince?
        • Old vs. new strategies
        • How are your investors reacting to lower yields?
        • Have you taken on an institutional partner? Used higher leverage?

      Cash Flow vs. Appreciation Multifamily Investment Strategies: Which Way Should You Go?

      • > Cash Flow
        > Appreciation
        • How are you underwriting?
        • How long do you expect cash flow to last? How do you evaluate long-term cash flowing potential?
        • How much rent growth and appreciation are you building in?
        • Why some are willing to overpay for cash flow?
        • How much more would you pay for a cash flowing property in a market with upside vs. one without?
        • How much leverage are you willing to use to get the cash flow necessary?
        • Year one vs. long-term cash flow
        • Creating additional cash flow
        • Are cash flow strategies the best strategies at this point in the cycle?

      Ground Up Vs. Value-Added Rehab vs. Re-Purposing: Where Are The Best Risk-Adjusted Returns?

      • > Ground Up
        > Value-Add
        > RE-Purposing
        As the price of existing assets increase, returns drop and material cost and interest rates rise it is getting riskier to make outsized returns in this market.  This panel of debaters will tell you which way they are going and why
        • Permitting time and investor horizons
        • Looking at different markets and different tenant targets: Are the answers different?
        • Market-specific characteristic’s impact
        • Impact of owning property in an o-zone
        • Cost of funding comparison
        • How are you controlling construction costs? Are these high costs impacting your strategy choices?
        • Is modular a game-changer for the ground up developer? 
        • Financing land purchases

         

      B/C/D Markets & Product vs. Urban & Class “A”: Where Are You Investing?

      • > A/Urban
        > B
        > C/D
        • How are rising construction costs changing this equation?
        • What do you look for in an 18-hour city?
        • Thinking a recession is coming… “A” vs. “B” market performance and volatility the last time around
        • Is the real $ in ”D”? 
        • Are suburban garden apartments starting to find a more consistent and predictable disposition value in secondary and tertiary markets?

      Modular Construction

      • • How have you used modular construction for apartments?
        • What are the cost savings?
        • How much time did it take?
        • What was in the pre-purchase phase?
        • What went wrong? How did you fix it?
        • Maintenance vs. traditional methods

      Value-Added Plays: What Are You Doing To Keep The Returns Up?

      • • Where are you finding deals?
        • Best sources of funding
        • What kinds of buildings do you prefer?
        • Getting the amenities right-Amenities vs. unit finishes
        • Is class “B” getting too expensive to make the deal worthwhile?
        • Adding density
        • The implementation side
        • Getting the rent right

      Growth Strategies & Getting Bigger

      •  (preconference discussion for owners/equity investors only)  Going from friends and family to institutional money? Getting to large to handle your portfolio with existing staff? Time to look for new markets? Please come in with your questions for this interactive plenary.

      In/Out/Hold & Refinance: What Goes Into Is Your Decision Matrix As Apartments Get Increasingly Expensive And The Cycle Gets Longer?

      • • Refinancing: Equity vs. debt
        • Rolling up assets with the intent to sell… How many assets do you need? Do local portfolios command a premium?
        • Widely vs. narrowly marketed: Why do you choose one way or the other? 
        • Post-stabilization: Hold vs. sell
        • Impact of capital source
        • If you changed your underwriting for a long-term hold what made you change that decision: Conversely if your underwriting changed from a short-term hold why are you keeping the building?
        • Impact owing property in an opportunity zone
        • New construction and heavy rehab hold targets

      Due Diligence Best Practices & Preventing The Closing Deal Breaker

      • • What are some of the things that are coming up during closings? How did you solve them?
        • Backing out & retrades
        • Appraisals that don’t meet expectations
        • Major repairs that rear their ugly head
        • Title complexities
        • Post: contract deal killers
        • Cancellation provisions and force majeure

      What Is Your Multifamily Acquisition Strategy Today? Where & How Are You Finding Deals In This Slowing Market?

      • • Finding a fairly valued product: Which alternative acquisition sources are you using?
        • Using new technologies including big data to discover potential acquisitions
        • Distressed apartments 2019: What is out there?
        • Alternative multifamily asset classes: Senior vs. Student housing
        • Valuing garden: style product
        • Market vs. yield 
        • Deal proforma’s: best standards for determining rent increases and expense reductions
        • How are you making these deals pencil?
        • Hold time’s impact

      Acquisition Shark Tank

      • This panel will feature 2 multifamily deals pitched to these potential buyers followed by a question and answer period for each of the transactions
        Tank Leader- Will moderate the panel  
        The Buyers:   Will evaluate their interest in the below projects, deal structure and how much they would pay
        The Sellers: Will present portfolios for sale

      Acquiring & Managing For Investors

      • • Lessons learned, advantages and disadvantages of working with aggregators
        • What are some of the mistakes that you have helped aggregators avoid?
        • What happens when an aggregator has two+ agents in a market? What happens when you both bid on the same property?
        • How is your venture structured? How are you paid?
        • Taking the next step… Joint ventures
        • What is the typical volume and transaction size for these structures? How many houses per vehicle?  What are the metrics-cost per house, cash yield per property, expense ratio per property?

      Buying Portfolios vs. Buying Individual Buildings

      • • How quickly are you looking to scale up? Why?
        • Inspection and due diligence differences
        • What do you do in-house? What do you outsource?
        • What do you do if you really do not like a small part of the portfolio?
        • Should you buy value-added in scale? 
        • Portfolio vs. individual property reserves

      Less Than 50 Units: Acquiring, Managing & Financing

      • • New construction
        • The 4- and 8-plex market
        • Heavy rehab-Small balanced bridge vs. stabilized financing
        • Agency financing in this corner of the market
        • Going long vs. short-term with the financing: What are the structures & terms currently available?  
        • Acquisition and financing fees vs. larger buildings
        • Are you seeing more institutional money in this sector?
        • Comparisons vs. larger building financing

      Workforce Housing-Solving The Gap & Making It Pencil

      • • Workforce vs. affordable housing
        • Using LIHTC in traditional deals
        • The dedicated workforce housing apartment
        • Local subsidy programs for city workers
        • What kind of amenities will tenants of limited income pay for?
        • Do you expect demand to stay high?

      Best Practices For Owning & Investing in 50-200 Unit Class B/C Buildings

      • • What has the most impact on financing rates and terms?
        • How to staff cost effectively
        • What kind of multiples are different classes of buildings of this size selling at?
        • Factors surrounding the building age
        • Are your parking garages full?
        • Common mistakes made on these buildings

      Stepping Up To The 200 Unit Institutional Building: What You Need To Know To Successfully Work With Institutional Capital On An Institutional Building

      • • What kind of track record is needed? Other hurdles?
        • Keys to adding 0s
        • Doing value-added deals with an institutional partner vs. going alone
        • Finding & valuing institutional vs. non-institutional properties
        • Staffing and systems you now need
        • Taking your old investors for the ride-What they need to know
        • Fund vs. JV vs. one-off
        • Should you use brokers to find institutional equity? What are the cost and structure?

      New Trends In Small Spaces: Evaluating The Co-Living & Micro-Living Markets

      • • Amenity support and mix
        • Comparing student and senior living vs. co and micro-living
        • Role of parking vs.  package rooms
        • Renting by the room and the “hotelization” of multifamily
        • Asset-heavy vs. light models
        • Demographics and rent-per foot and other metrics
        • Amenity mix

      Opportunity Zones: As We Digest Second Round Guidance

      • • Equity partners, non-government tax or lending incentives for opportunity zones
        • Construction is owning in an o-zone changing pricing? 
        • Single asset, single investor fund vs. multi-asset, multi-investor deals
        • Selling the land you own in an o-zone at a gain vs. developing yourself
        • What does debt look like today any changes?
        • 1031 and 1231 applications
        • Renovations vs. value-added vs. re-purposing
        • Current vs. previous returns
        • Deal sources

      Preferred Equity & Mezz

      • • Is the preferred equity structure a good one for the middle market apartment owner?
        • Pref- vs. LP-equity
        • Comparing sources of mezz capital
        • Intercreditor update & Legal considerations
        • What are you looking to underwrite? What are you running away from?
        • Construction and bridge mezz packages

      The Debt Panel: Comparing Sources, Costs & Structures

      • • Stabilized vs. Unstabilized financing
        • Bridge debt: What do you look for in a project? 
        • Freddie Mac & Fannie Mae update
        • Different interest rate environment
        • Agency debt and capacity issues
        • Refinancings and recaps
        • Cycles, partners and deal expectations-What drives deal structures?
        • Loan docs: What to have, what to avoid
        • Agency green rewards

      Raising Equity: A Comparison Of Equity Capital Sources

      • • Small joint ventures
        • Going deal by deal vs. fundraising
        • Fundraising: the legal side
        • Syndication made easier
        • High-net-worth vs. true family office
        • Entity-level financing
        • Foreign investors and REIT structures
        • What kind of returns are you promising investors? What are you doing to keep them up?
        • Shift from pension $ to 401(k) and accredited investors
        • The trend towards evergreen funds

      Multifamily Owner & Private Equity Shark Tank JV Financing Panel

      • Finding new financing partners is critical and in this session sellers will pitch 2 apartment deals to potential financiers followed by a question and answer period for each of the transactions
        Tank Leader-Will moderate the panel
        Private Equity Players- Will evaluate the following projects to see if they are interested, the deal structure and how much they will pay…
        Multifamily Owners/Operators-Will present the deals

      Using Property Management Benchmarks To Save Operational Costs, Minimize Operational Costs And Increase Property Value & ROI

      • • Where are you finding operational costs savings
        • Expense control best practices
        • Increasing fee income
        • Reserve policy
        • Should you build or buy technology?
        • Maintenance & tenant damage best practices
        • Tenant renewal-The right amount of customer service to ensure happy, renewing tenants
        • Rent optimization strategy: Low opening rent vs. discounting high rents
        • Demographic factors in raising rents and new amenities
        • Insurance rates and disaster markets

      Building Your Team In New Markets

      • • Using third-party vs. In-house management
        • Finding property and asset managers
        • Special considerations for tertiary markets
        • Giving your property manager a piece of the action… Do you also want a piece of his?
        • Using your own vs. others for the construction
        • Ensuring teams are on the same page

      Maintenance & Rehabbing Units

      • • What are you doing about the increase in costs?
        • Energy-friendly incentives
        • Are we spending or very precious construction dollars on expensive, unused or under-utilized, amenities or amenity spaces? 
        • New amenities in old apartments
        • Wants vs. must-haves
        • When have you over-rehabbed?

Sponsors

Register

To register for this conference you must be signed in

  • Multifamily/Apartment Owners/Operators Early Bird Registration* - $995
  • Multifamily/Apartment Owners/Operators Standard Registration* - $1,295
  • Super Early Bird Registration - $1,595
  • Early Bird Registration - $1,695
  • Standard Registration - $1,895
Sign-In

Contact Us

Venue

  • Conference Venue
  • Grand Hyatt Atlanta


    3300 Peachtree Road NE
    Atlanta, GA, 30305
    USA

    Additional Info:

    Please use the link above to make a hotel room reservation in IMN's room block, pending availability, until our cutoff date of Friday, October 25. 

    IMPORTANT NOTE: IMN has not retained any third party booking company to assist with reservations. If you are interested in making reservations at the Grand Hyatt Atlanta, you must book those rooms directly with the venue. 

1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


View Full Site
You need to login before accessing this section. Click "Login" from bottom menu.

Please sign in

Create Account Recover Password Sign in with LinkedIn

Enter Your Email: