Highlights from Connect Phoenix Multifamily 2026: How Deals Are Getting Done

Connect Multifamily Phoenix 2026 brought together industry experts to provide insights into sector trends, including how multifamily deals are being capitalized on and executed in today’s market.

“Capital is coming back, however, it’s selective and very disciplined, said Luke Donahue, Senior Vice President at Colliers, who kicked off the discussion, noting that capital is available, but not necessarily accessible. “I would probably characterize what’s changed in the last cycle over the last couple of years is the oversupply, and where we’re focusing on is concessions.”

Paul Hachigian, Director on the Originations team at Thorofare Capital, commented that much of today’s deal flow is legacy-driven, with deals from 2021 and 2022 coming through either completed construction or mid-lease-up.

Speaking to approaching challenging situations and addressing financing gaps, Adam Finkel, Senior Managing Director at Marcus & Millichap Capital Corporation, added, “I think proceeds are the name of the game today. Another type of solution that I’ve seen is you have debt funds and finance companies, typically backed by insurance, coming up with five-year fixed-rate interest deals.”

As far as institutional capital trends, “I would say the capital is definitely there, but what’s shifted is the underwriting and expectations,” noted Katie Hubbard, President, Walton Global. “They want ironclad underwriting with no aggressive assumptions.”

Eric Damko, Senior Vice President and Director of Specialty Lending for National Bank of Arizona, added that while transaction volume has slowed, “Banks are wide open.” He added, “We would love to do more deals, they just tend to be expensive right now.”