Multifamily Market Pulse

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

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  Todd Taylor

  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.

  Wood Partners

  Managing Director

  Todd Taylor

  Managing Director

  Wood Partners

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  Justin Steltenpohl

  Justin D. Steltenpohl is the Chief Operating Officer & General Counsel for P.B. Bell. He is responsible for all development, acquisitions and asset management for P.B. Bell, as well as all legal matters, including corporate governance, negotiating joint venture agreements, purchase and sale agreements, and financing transactions. 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 two wonderful children and is an avid Ohio State football fan.

  P.B. Bell

  COO

  Justin Steltenpohl

  COO

  P.B. Bell

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  Sean Murphy

  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.

  Toll Brothers Apartment Living

  Director of Acquisitions & Development

  Sean Murphy

  Director of Acquisitions & Development

  Toll Brothers Apartment Living

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  Austin Kates

  VP

  The NRP Group

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  Gary Todd

  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.

  Todd & Associates

  President & Founding Principal

  Gary Todd

  President & Founding Principal

  Todd & Associates

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  George Seevers

  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.

  Kensington Vanguard

  Vice President

  Moderator

  George Seevers

  Vice President

  Kensington Vanguard

Collaboration is Key

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

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  John Carlson

  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.

  Mark-Taylor Companies

  President

  John Carlson

  President

  Mark-Taylor Companies

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  Jim Bulsiewicz

  VP, Arizona Multifamily

  Evergreen Devco, Inc

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  Alvaro Sande

  VP, Development Capital

  Thompson Thrift Development

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  Daniel Perez

  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.

  Senior Resource Group

  VP - Real Estate Development & Construction

  Daniel Perez

  VP - Real Estate Development & Construction

  Senior Resource Group

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  Kathryn Peacock

  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.

  Partner Engineering and Science

  Principal

  Moderator

  Kathryn Peacock

  Principal

  Partner Engineering and Science

Prioritizing Affordable and Attainable Housing

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

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  Aubrey Gonzalez

  Assistant Housing Director

  City of Phoenix

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  Dan Klocke

  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.

  Gorman & Company

  Director of Development

  Dan Klocke

  Director of Development

  Gorman & Company

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  Shannon Cox Baker

  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.

  Pennrose

  Regional VP

  Shannon Cox Baker

  Regional VP

  Pennrose

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  Mike Krentz

  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.

  DAVIS

  President

  Mike Krentz

  President

  DAVIS

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  Jason Morris

  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.

  Withey Morris, PLC.

  Partner

  Moderator

  Jason Morris

  Partner

  Withey Morris, PLC.

Understanding the Modern Resident

Innovative Design and Operational Strategies to Meet Evolving Resident Needs

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  Ed Gorman

  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.

  MODUS Development

  President

  Ed Gorman

  President

  MODUS Development

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  Dex Hiland

  Senior Director, Client Services

  Greystar

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  Doug Van Lerberghe

  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.

  KEPHART

  Principal and Director of Strategic Ventures

  Doug Van Lerberghe

  Principal and Director of Strategic Ventures

  KEPHART

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  Colin Hanson

  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.

  CVL Consultants

  Project Manager, Landscape Architect

  Colin Hanson

  Project Manager, Landscape Architect

  CVL Consultants

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  Lollie Loflin

  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.

  FCP

  Senior Associate

  Lollie Loflin

  Senior Associate

  FCP

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  Luke Donahue

  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

  Colliers Mortgage

  SVP

  Moderator

  Luke Donahue

  SVP

  Colliers Mortgage

Opening Remarks

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  Benji Shin

  Benji Shin is the CEO of Zenerate offering building design AI solutions for real estate development. His focus is to integrate AI and real estate development for profit maximization. Previously, he participated in a few largest mixed-use projects in LA as an architectural designer. He’s been a speaker at AIA 2020, BILT ASIA 20, BILT NA 2019 and holds a master’s degree in architecture from Harvard.

  Zenerate

  Co-founder & CEO

  Benji Shin

  Co-founder & CEO

  Zenerate