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Multifamily Market Pulse

Deep Dive into Vacancy Rates, New Construction Impact, Balancing Supply with Demand, and Financing Solutions in Phoenix's Multifamily Market

Todd Taylor

Todd Taylor

Managing Director

Wood Partners

Justin Steltenpohl

Justin Steltenpohl

CEO

P.B. Bell

Sean Murphy

Sean Murphy

Director of Acquisitions & Development

Toll Brothers Apartment Living

Austin Kates

Austin Kates

VP

The NRP Group

Gary Todd

Gary Todd

President & Founding Principal

Todd & Associates

George Seevers
Moderator

George Seevers

Vice President

Kensington Vanguard

Todd Taylor

Managing Director

Wood Partners

Todd Taylor is the Development Director for Wood Partners in Arizona and Nevada. His responsibilities include Development, Finance and Asset Management.

Taylor started with Wood Partners in 2005, and has been involved in the development of over 4,000 units in Arizona and Nevada. Among these deals was Alta Phoenix Lofts, a 332-unit 9-story development, which ranked #1 in the 2009 Best of Phoenix Luxury Apartment list. The 2011 Phoenix Luxe List ranks three of Mr. Taylor’s deals among its top eight valley-wide. Phoenix Business Journal ranked Wood Partners Phoenix at #3 for Multifamily Commercial Real Estate Developers in 2015 and 2016. Additionally, Phoenix Business Journal’s the Book of Lists ranked Wood Partners Phoenix in the top 10 for Largest Phoenix Area CRE Developers.

Taylor’s multifamily experience covers a broad spectrum, including market-rate rental, mixed-use, condominium, student housing, age restricted, full-service independent living, and 80/20 affordable bond financed units.

Taylor completed his undergraduate studies at California State University Long Beach and holds an MBA (with a concentration in real estate finance) from the Marshall School of Business at the University of Southern California. Prior to graduation, he played professional baseball with the Minnesota Twins organization.

Taylor is a member of the Real Estate Investment Advisory Council (Southwest Chapter) and serves on the Board of Directors for Homeward Bound Arizona.

Justin Steltenpohl

CEO

P.B. Bell

As Chief Executive Officer, Justin oversees all divisions of P.B. Bell, including development, investments, acquisition, asset management and operations.

Justin started working with Phil and Chapin Bell in 2007, initially serving as outside counsel. As P.B. Bell grew, there became a need for in-house general counsel, and Justin officially joined the company in 2015. In 2018, his role expanded to chief operating officer and general counsel. In 2025, Chapin named Justin P.B. Bell's CEO.

Prior to joining P.B. Bell, Justin was a partner with Squire Patton Boggs, heading the financial services group in the firm’s Phoenix office. In addition to Squire Patton Boggs, Justin also served as Vice President, Regional Counsel for Meritage Homes. Justin received his Bachelor of Science degree in Healthcare Administration from The University of Toledo and his Juris Doctorate from The University of Toledo College of Law, where he was valedictorian of his graduating class. In his free time, Justin enjoys spending time with his family and is an avid Ohio State football fan.

Sean Murphy

Director of Acquisitions & Development

Toll Brothers Apartment Living

Sean Murphy is responsible for selection, conducting financial, operational and market due diligence,

acquisition and entitlement of multifamily development sites in Phoenix.

Prior to joining Toll Brothers Apartment Living in 2020, Sean worked in an investment role with Alliance

Residential Company. Sean’s experience also includes serving as Vice President, Regional Asset Manager

and in Land Acquisition Manager at JPI Companies where he drove $760 million in development. Sean

began his career as an Acquisitions Officer at ConAm, a role where he participated in acquiring 3,200

units representing $450 million in multifamily assets.

Before his multifamily career, Sean was previously recognized as top-performing Police Officer in the

City of Phoenix. Sean earned a Bachelor of Arts from Rutgers University, an MBA from Thunderbird

School of Global Management and Master of Science in Real Estate from University of San Diego.

Gary Todd

President & Founding Principal

Todd & Associates

Gary Todd, President and founding Principal of Todd & Associates, has over 40 years of design and

leadership experience. Since founding the firm in 1981, he has played a major role in the

development of numerous highly-successful projects throughout the United States. Gary has

extensive design experience in the multi-family residential, student housing, and senior living

markets. He strives to design and develop unique projects that are tailored to individual clients and

user needs. Gary’s devotion to the purpose, goal, and vision of his clients continues to serve as a

key factor in the ongoing success of the firm.

George Seevers

Moderator

Kensington Vanguard

George Seevers is currently the Vice President for Kensington Vanguard National Title. George is an accomplished business professional with almost 25 years of experience in the Commercial Real Estate industry including title insurance, real estate development, property management, architecture, and general construction. George is a highly motivated and skilled communicator with strong listening and relationship development skills. He brings a proven track record in developing long and successful partnerships, providing strategic leadership, and vision for sustainable growth. George is committed to ensuring all partnerships receive the attention to detail they deserve from their title partner. George is an Arizona State University Alumni and has been in the Valley for over 30 years. George has served on numerous industry committees during his career and has been honored with numerous awards for his contributions in the industry. In his spare time, George enjoys spending time with his wife and their two beautiful daughters.

Collaboration is Key

Enhancing the Multifamily Development Process Between Project Stakeholders from Pre-Construction to Delivery

John Carlson

John Carlson

President

Mark-Taylor Companies

Jim Bulsiewicz

Jim Bulsiewicz

VP, Arizona Multifamily

Evergreen Devco, Inc

Alvaro Sande

Alvaro Sande

VP, Development Capital

Thompson Thrift Development

Daniel Perez

Daniel Perez

VP - Real Estate Development & Construction

Senior Resource Group

Kathryn Peacock
Moderator

Kathryn Peacock

Principal

Partner Engineering and Science

John Carlson

President

Mark-Taylor Companies

John Carlson, President of Mark-Taylor Companies, has dedicated the last 20 years of his career to the organization. Through his strategic direction and expertise in macroeconomics, John has scaled Mark-Taylor to its largest size in the company’s history while increasing employee engagement. He credits the exceptional people and the authentic and ambitious culture at Mark-Taylor as the keys to the company’s continued success.

Daniel Perez

VP - Real Estate Development & Construction

Senior Resource Group

Daniel G. Perez is Vice President of Real Estate Development and Construction at SRG - Senior Resource

Group. LLC.; He is an award winning-architect with 37 years of experience in Design, Development and

Construction of Various market sectors national and Internationally; Senior living, hospitality,

residential, Corporate Commercial, among other mixed-use developments.

His vast experience based on project excellence and performance, guides the strategic capacity of

organization In Overseeing resources and multidisciplinary teams in a highly collaborative manner,

(North America, South America and Europe) Mr. Perez received his Architectural and Urban Planning

education, training and Licensing in Colombia, South America and MS in Construction Management

(ASU) and MBA (Thunderbird School of Global Business) education in the United States of America.

Capitalizing on these professional skill sets, and 37 years in the Development, Design and Construction

Industry.

Awarded recognitions for “Architectural Design Excellence” and “Sustainable Projects”, other

recognitions by the American Institute of Architects and USGBC in several LEED Certified Projects, thus,

in the United States, South America and Europe. Also, recently, recognized by the Colombian

Government with the prestigious “Colombian Entrepreneurship in Foreign Countries” award; Mr. Perez

continues assertive in pursuing the Development, Design and Construction practice of Innovation,

Energy Efficiency, using Technology + Integrated Project Delivery Method + Global materials and

systems procurement, DMFA (Design for Manufacturing and Assembly) with Virtual Construction to

generate developments with less risk, high Functionality and Operability of high-quality environments.

Mr. Perez, also foments mentoring and actively stirs up a professional Mentor program in

entrepreneurship, Architecture, Real Estate Development and Construction for young professionals,

thus, nationally and internationally, that allows for new graduates to become more competitive in those

areas of expertise.

Along these lines; in his past roles as Principal Architect in multinational firms such The DLR Group, Leo

A Daly, Jacobs Engineering, Fluor Daniel Corporation, PerezMcGee International Architecture and

Development (Co-founder) or/and as a part of Development companies, such, UC residential

Communities, IDM Companies where he has led the Development and/or the Construction divisions.

Either, his work in projects for other Developers like HINES, RYAN CO., TRAMMELL CROW-CBRE, DMB,

THE DAVIS COMPANIES, OPUS, BARKER PACIFIC GROUP, among others; Continues being his passion.

Kathryn Peacock

Moderator

Partner Engineering and Science

Kathryn Peacock serves as Principal and National Client Manager for Partner Engineering and Science, Inc. With 20 years of experience under her belt, Kathryn has worked on thousands of transactions, subsurface investigations, and site remediation projects for some of the nation’s largest lenders and investors. She holds a bachelor degree in Soil Science from Prescott College and a Masters in Education from the Arizona Teachers Institute. Kathryn speaks and writes frequently on a wide range of environmental due diligence topics, and is dedicated to advancing standards and best practices through her active involvement with industry associations such as ASTM.

Kathryn is a founding member of EFMR (Environmental Facilities Management Roundtable). Environmental Professionals are frequently unique within their companies, having few peers who understand the unique challenges of their day to day. This group was formed to help facilitate dialogue amongst industry professionals.

Prioritizing Affordable and Attainable Housing

Exploring the Policy, Partnerships, and Opportunities Paving the Way for Much-Needed Housing Across the Valley

Aubrey Gonzalez

Aubrey Gonzalez

Assistant Housing Director

City of Phoenix

Dan Klocke

Dan Klocke

Director of Development

Gorman & Company

Shannon Cox Baker

Shannon Cox Baker

Regional VP

Pennrose

Mike Krentz

Mike Krentz

President

DAVIS

Jason Morris
Moderator

Jason Morris

Partner

Withey Morris, PLC.

Dan Klocke

Director of Development

Gorman & Company

Dan Klocke joined Gorman & Company in 2020 to help

manage the company's continued growth in the Arizona

market. Previously, he worked with the Downtown Phoenix

Partnership for seventeen years, serving as the Executive

Director for four. Dan began working with the Partnership to

oversee the Downtown Phoenix Community Development

Corporation, a nonprofit affiliate which sought out potential

affordable housing developments. In addition, Dan has been

an active member of the City of Phoenix Historic Preservation

Commission for 7 years, serving 4 as the Chairman. Dan

brings with him extensive experience working closely with

local governments and boards of directors to coordinate

development strategies for affordable and workforce housing

communities. He has often served as a sounding board with

residents and community stakeholders to strategize innovative

ways to build affordable housing into existing neighborhoods which

simultaneously serves as a catalyst for revitalization.

Shannon Cox Baker

Regional VP

Pennrose

Shannon Cox Baker has more than fifteen years of real estate development

experience in both the public and private sector in Colorado. As Regional Vice

President of the Mountain Region for Pennrose, Shannon is responsible for the

execution and continued growth of Pennrose’s development pipeline in Colorado,

Arizona, Utah, and Wyoming including all aspects of the real estate development

process from initial conception through construction, to lease-up and stabilized

occupancy or sale.

Prior to joining Pennrose in 2022, Shannon ran her own consultancy and

development company, Rivet Development Partners, for over a decade where she

provided owner’s representation and development services to for-profit, nonprofit,

and housing authority LIHTC developers throughout Colorado.

Shannon received her bachelor’s degree in environmental studies from University of

South Carolina Honors College and a MBA in real estate and entrepreneurship from

the University of Colorado Leeds School of Business. She’s a CU Real Estate Center

International Advisory Board member and enjoys skiing, cycling, and hiking with her

husband and young daughter.

Mike Krentz

President

DAVIS

Mike leverages over 30 years of well-rounded architectural and design experience to his role of President of DAVIS. He

is responsible for the leadership of a multi-dimensional architectural practice that is passionately committed to enriching

the human experience. Mike’s varied background allows him to provide both guidance and mentorship to staff, young and

experienced alike, in a wide variety of design milieus. Mike’s responsibilities range from writing and negotiating complex

performance contracts to promoting an unparalleled standard of excellence in the design of all of DAVIS’s architectural

endeavors, from small tenant improvements to large master planned communities. Having been a part of the evolution of

DAVIS since 1987 and having served in leadership roles in Phoenix, California and Austin, Texas offices, Mike has always

believed that seeing the ‘big-picture’ in development and architecture is critical in the genesis of every good project design.

And under the guidance of a seasoned team, excellence happens in the perfect storm that includes attention to the big

picture, attention to detail, and intense consideration of the Client’s needs.

Jason Morris

Moderator

Withey Morris, PLC.

Jason Morris is a founding partner of Withey Morris, PLC. Experienced and effective, his dynamic presentations at public hearings on behalf of his clients prove that an attorney can be both personable and tenacious.

Understanding the Modern Resident

Innovative Design and Operational Strategies to Meet Evolving Resident Needs

Ed Gorman

Ed Gorman

President

MODUS Development

Dex Hiland

Dex Hiland

Senior Director, Client Services

Greystar

Colin Hanson

Colin Hanson

Project Manager, Landscape Architect

CVL Consultants

Doug Van Lerberghe

Doug Van Lerberghe

Principal and Director of Strategic Ventures

KEPHART

Lollie Loflin

Lollie Loflin

Senior Associate

FCP

Luke Donahue
Moderator

Luke Donahue

SVP

Colliers Mortgage

Ed Gorman

President

MODUS Development

The president, creative visionary and business mastermind behind MODUS Development, Ed Gorman created a unique solution to eco-friendly urban living by combining his aptitude for technology and design with his extensive background in real estate development.

What started as an idea of innovative housing with location, design and technology at its core, has since led MODUS to become the leading developer of eco-friendly living featuring innovative buildings with award-winning environmentally friendly designs located in prime urban areas.

Not only is Gorman’s MODUS Development nationally recognized as one of the premier developers of Leadership in Energy and Environmental Design (LEED-H), but he was also among the first in the nation – and the first in Arizona – to unveil net zero energy living spaces.

Prior to MODUS Development, Gorman began his career with technology companies AT&T, Apriva and Iridium Satellite. Followed by years spent in real estate development, which included site acquisition, design, construction, and financing.

Gorman is a LEED accredited professional, Urban Land Institute (ULI) member, U.S. Green Building Council (USGBC) member, and is a board advisor for the Arizona State University Masters in Real Estate Development (MRED) program, which is also where he received his MBA following his Bachelor’s of Science from the University of South Carolina.

Now considered a pioneer in the industry, Gorman has continued to keep MODUS Development on the cutting edge of urban living. Projects such as The Galleries at Turney in Phoenix, AZ and

Parc Riviera in San Diego, CA solidified his standing as a leader among his peers, while upcoming residential projects that are currently under development in Arizona and California – MZ

Townhomes in Scottsdale, AZ was recently unveiled as the first zero energy housing project in the state, with three more projects to be unveiled in 2016 – will continue to keep him at the forefront of innovative, energy-efficient living.

Colin Hanson

Project Manager, Landscape Architect

CVL Consultants

Colin Hanson, a seasoned designer with over a decade of experience, has left his mark on the Phoenix and Las Vegas markets. His expertise spans across multi-family and single-family masterplan communities. Colin’s portfolio has a diverse range of projects, including masterplans, multi-family residences, senior living facilities, and mixed-use developments. His singular aim is to create outdoor experiences that are both unique and impactful for all users.

For Colin, each project is more than just a design; it’s a story waiting to be told. These narratives shape the communities and projects he designs, ensuring that their unique character is reflected in every aspect of the design. This is particularly evident in the exterior spaces and the lifestyle they foster.

Colin places a strong emphasis on communication, collaboration, and design. He works hand-in-hand with engineers, architects, and clients to bring his projects to life. He firmly believes that with the right team, the possibilities are endless.

Doug Van Lerberghe

Principal and Director of Strategic Ventures

KEPHART

As a Principal and designer of award-winning communities throughout the United States, Doug has contributed greatly to KEPHART’s reputation as a leader in design. He utilizes his 35+ years of experience to balance design trends with marketplace longevity and construction costs. His experience includes the design of master planned communities, high density in-fill concepts, and a wide range of single and multi-family for sale and rental projects.

Doug is a nationally recognized industry expert on residential design trends and has been a guest speaker at numerous venues including the National Association of Home Builders’ International Builders’ Show and local Home Builder Association functions. His work and forward-thinking ideas have been highlighted in a variety of industry publications including Builder, Professional Builder, Builder and Developer and 50+ Builder.

Lollie Loflin

Senior Associate

FCP

Lollie Loflin is an Asset Manager overseeing FCP’s multifamily portfolio in the Mid-Atlantic, Southeast and Phoenix. In her role, she is responsible for executing the business plan, financial analysis and reporting, dispositions and refinances as well as developing operational strategies to maximize performance for FCP’s investments. Lollie received her Master’s in Accountancy from the University of Georgia and her Bachelor’s degree in Business Administration from the University of Georgia.

Luke Donahue

Moderator

Colliers Mortgage

Luke Donahue, Senior Vice President, is

actively engaged in the capital markets

with extensive experience financing the

entire capital stack from first mortgage

debt placements to more complicated

structured finance transactions involving

equity and mezzanine financing,

recapitalizations, and repositioning’s.

Mr. Donahue’s clients range from

institutional investors to entrepreneurial

real estate investors. Financing's are

completed with a variety of capital

sources including Freddie Mac, Fannie

Mae, Insurance Companies, Pension

Funds, Debt Funds, Equity Funds,

Investment Banks, and Commercial

Banks. Luke is actively originating debt

and equity capital investments on all

commercial property types. In addition to

arranging debt financing for multi-family,

retail, office, and industrial assets, Luke

has specific expertise arranging joint

venture equity placements.

Mr. Donahue has a very strong

transactional background with more than

$2B of capital funded during his career.

Business Background

Luke has over 20 years of experience

sourcing, underwriting and structuring

commercial real estate secured capital

placements. A regular top performing

mortgage banker, he has built client and

capital relationships by the simple

principles of embracing hard work and

doing the right thing. Procuring optional

capital solutions and paying attention to

detail, he understands that you need to

add value to each and every transaction.

Luke was previously a Senior Vice

President and Office Manager, opening

the Grandbridge Phoenix office.

Additionally, Luke has held senior

production roles at Berkadia and

Northmarq Capital. Originally from Iowa,

Luke holds a B.A. in Business

Administration with a Concentration in

Finance from the University of Iowa Tippie

College of Business.

Professional Accomplishments

• Modera San Pedro 201 Units Fannie

Mae Construction Take Out Debt

Placement

• Solis Towne Center 240 Units $75.0mm

Acquisition Rehabilitation Loan

• Alta San Marcos 273 units Development

Capitalization - Construction Debt and

LP Equity Placement

• Alanza Place 360 Units $56.0mm

Freddie Mac Acquisition Loan

Phoenix Multifamily Projects & News

Venue

Hilton Scottsdale Resort
6333 N Scottsdale Road
Scottsdale, AZ 85250

Ballroom: Grand Ballroom, 1st Floor


Free self-parking. Enter off of Lincoln Drive for nearest ballroom access.

Get Directions

Agenda

Time Activity
3:00 PM
4:00 PM
Registration, Breakfast and Networking
4:00 PM
4:45 PM
Understanding the Modern Resident

Innovative Design and Operational Strategies to Meet Evolving Renter Preferences

4:45 PM
5:30 PM
Collaboration is Key

Enhancing the Multifamily Development Process Between Project Stakeholders from Pre-Construction to Delivery

5:30 PM
5:45 PM
Networking Break
5:45 PM
6:30 PM
Prioritizing Affordable and Attainable Housing

Exploring the Policy, Partnerships, and Opportunities Paving the Way for Much-Needed Housing Across the Valley

6:30 PM
7:25 PM
Multifamily Market Pulse

Deep Dive into Vacancy Rates, New Construction Impact, Balancing Supply with Demand, and Financing Solutions in Phoenix's Multifamily Market

7:25 PM
7:45 PM
Closing Networking

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