Here's another reason you don't want to miss BMAC West: Beech Street Capital's Greg Reed will be offering financing insights. He tells us multifamily transactions will see two big sources of capital this year: local banks, who'll have bigger allocations dedicated to not just multifamily but all forms of CRE, and CMBS loans (which have worked their way off the FBI's most wanted list). Greg says since Fannie and Freddie are coming off near-record years of lending, the door is open for banks and CMBS to have a dramatic impact on multifamily financing. Greg also says we may see investors, frustrated with compressed cap rates in traditional multifamily product, go for specialty types like student and manufactured housing, where returns are often higher than apartments.