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AGENDA
8:00 AM 2025 Twin Cities Apartment Market Update
Moderator: Keith Collins, Executive Vice President, CBRE
Abe Roberts, Senior Vice President Investments, Marcus & Millichap
Dylan Steman, Associate Vice President, Northmarq
Heidi Addo, Vice President, Michel Commercial Real Estate
Josh Talberg, Managing Director, JLL
Matt Fransen, Principal, Chief Investment Officer, Timberland Partners
Matt Mullins, Vice President, Maxfield Research & Consulting
• Major apartment deals: key transactions shaping the market.
• Value-add opportunities: older buildings and underutilized spaces.
• Rising competition among investors and CAP rate trends.
• Submarket analysis: investment opportunities in high-growth areas.
• Expected yields and 2025 market predictions.
• New construction’s impact on supply and rental rates.
• Projected rental growth and investor returns by market.
• Impact of interest rate changes, inflation, and wages on renter affordability.
• Key renter demographic trends: age, income, household size, and nontraditional families.
• Demographics affecting apartment demand: aging population, urbanization, remote work.
SPEAKER PROFILES: Panel 1
Keith Collins
Executive Vice President CBRE
Keith Collins joined CBRE in 1996 and is a Executive Vice President specializing in the sale of apartment properties. He has over 25 years’ experience in selling multifamily properties, having sold over $7.0 Billion in multifamily transactions. Keith is a member of CBRE Institutional Properties nationally and is partnered locally with Abe Appert, and Ted Abramson in Minneapolis. Institutional Properties is comprised of more than 80 individuals who lead teams for the execution of significant capital market assignments.
THANK YOU TO OUR SPONSORS
SPEAKER PROFILES: Panel
Abe Roberts Senior Vice President Investments
Marcus
2025 EVENTS
January 9th
Apartment Summit MN (20th Annual)
January 23rd
Construction Summit MN (17th Annual)
February 27 th
Medical Properties Summit MN (21st Annual)
March 7 th
Building Energy Cost Reduction & Compliance Summit (2nd Annual)
March 12th
Land Development Summit MN (21st Annual)
March 27th
Reuse and Reposition Summit MN (3rd Annual)
April 10th
Women in Real Estate & Construction Summit MN (8th Annual)
April 25th
Capital Markets Summit MN (18th Annual)
May 1st
MREJ Awards Gala
May 9th
Retail and Restaurant Summit MN (18th Annual)
May 22nd
Southeast Development Summit MN (3rd Annual)
May 30th
Mid-Year Commercial Real Estate Forecast (13th Annual)
May TBD
Fargo Real Estate Forecast Summit (10th Annual)
May TBD
St Cloud Development Summit (7th Annual)
June 5th
Property Management Summit MN (19th Annual)
June 12th
Mid-Year Apartment Summit MN (13th Annual)
June 23rd
MREJ Golf Classic #1 @Rush Creek Golf Club (24th Annual)
June TBD
Rochester Real Estate Forecast Summit (9th Annual)
July TBD
Summer Commercial Real Estate BASH
August 4th
MREJ Golf Classic #2 @ Rush Creek Golf Club (24th Annual)
September 10th
Cannabis Summit MN (2nd Annual)
September 19th
Multifamily Finance Summit MN (13th Annual)
September TBD
St Paul Commercial Real Estate Summit (11th Annual)
October 1st
Senior Housing MN (19th Annual)
October TBD
Downtown Development Summit MN (12th Annual)
October 30th
Industrial Real Estate Summit MN (27th Annual)
November 13th
Commercial Real Estate Investment Summit MN (21st Annual)
November 19th
Condo & Homeowners Association Summit MN (13th Annual)
December 5th
Affordable Housing Summit MN (12th Annual)
December 12th
Office Summit MN (21st Annual)
SPEAKER PROFILES: Panel 1
Dylan Steman
Associate Vice President Northmarq
Dylan Steman is a senior associate in Northmarq’s Minneapolis office. He is responsible for sourcing and transacting multifamily investment sales throughout the Twin Cities and greater Minnesota. He works closely with a wide range of clients and finds great satisfaction in guiding his clients throughout the acquisition and disposition process. He prides himself on his high attention to detail and a tenacity to achieve results.Prior to joining Northmarq, Dylan spent three years with MRG Realty Partners where he was recognized as the brokerage’s top producer, specializing in multifamily investment sales. Prior to his career in real estate, Dylan spent several years playing professional hockey throughout the United States and Europe.Dylan is actively involved in the hockey community where he volunteers as a coach and mentor for youth programs.Dylan earned his Bachelor of Science in mechanical engineering and an MBA from Michigan Tech University.
SPEAKER PROFILES: Panel 1
Heidi Addo
Vice President
Michel Commercial Real Estate
Heidi is an integral part of the Michel Commercial team, bringing market expertise and innovation to her role. As a market expert, she stays at the forefront of multifamily market trends, leveraging her knowledge to help clients achieve their goals and strategically position their properties in competitive bidding environments. Over the past four years, Heidi has been instrumental in leading Michel Commercial through a brand transformation. Building on the firm’s four decades of trusted name recognition and its reputation for integrity and hard work, she has elevated the firm’s market expertise, strengthened its presence, and streamlined operational processes. Outside of her professional endeavors, Heidi enjoys exploring new brunch spots across the Twin Cities with her husband, Kojo, and their daughter, Hope (3.5). She also treasures time spent with friends and family, creating meaningful and lasting memories.
SPEAKER PROFILES: Panel 1
Josh Talberg
Managing Director
JLL
Josh is a Managing Director in the Minneapolis office of JLL Capital Markets, Americas, where he lead the office’s Multi-housing ISA coverage and is primarily responsible for institutional investment sales advisory, recapitalizations and joint venture equity for multi-housing properties and portfolios in the Minneapolis and Midwest region. Prior to joining JLL’s Capital Markets group, Josh was a First Vice President-Investments with Marcus & Millichap’s National Multifamily Team. Josh’s experience includes new development and value-add multi-housing investment sales, equity and joint venture capitalizations, portfolios, and ground-up development. He has collectively sold or capitalized over $4B of multi-housing assets during the course of his career.
SPEAKER PROFILES: Panel 1
Matt Fransen
Principal, Chief Investment Officer
Timberland Partners
Matt oversees the acquisition, disposition, and financing activity for Timberland Partners, including sourcing, underwriting, market analysis, and due diligence for new property acquisitions. Since joining Timberland Partners in 2007, Matt is responsible for the addition of over $2.25B in new multifamily acquisitions totaling over 20,000 apartment units to the company’s portfolio. Timberland currently owns an 20,000+ unit apartment portfolio with AUM over $3.7B.Before joining the Timberland Partners team, Matt was a Director of Acquisitions/Dispositions for Denver-based AIMCO, one of the largest apartment REITs in the country. At AIMCO participated in the disposition of over $3B in multifamily property sales. Following his tenure at AIMCO, Matt spent time on the acquisitions team for The Bethany Group, an Irvine, CA-based multifamily operator. Additionally, Matt and a partner formed Slavin Multifamily Advisors, where he focused on multifamily acquisitions in Houston, TX for institutional joint venture clients. Matt graduated from the Leeds School of Business at the University of Colorado-Boulder with an emphasis in Finance.
SPEAKER PROFILES: Panel 1
Matt Mullins
Vice President
Maxfield Research & Consulting
Matt Mullins brings 25 years of real estate consulting and advisory service experience to Maxfield Research & Consulting. Matt has managed and directed real estate analysis projects locally, regionally, and nationally for a broad spectrum of private and public sector clients. Matt’s experience canvasses a variety of real estate and land use types, including: single-family and multifamily housing, commercial, industrial, mixed-use, hospitality, entertainment, tourism, transit-oriented developments, among others. Matt is a trusted adviser whom industry leaders regularly rely on for forthright insight into the real estate market. Matt frequently presents real estate findings and emerging trends to public sector entities and professional trade organizations. In addition to his strategic research and consulting responsibilities, Mr. Mullins manages and implements business development strategies and marketing initiatives for Maxfield. Furthermore, he oversees and mentors other Maxfield advisors. Mr. Mullins joined Maxfield Research in January 2003. Matt’s previous experience was as a consultant for other nationally and globally based advisory service firms providing real estate advisory services.
Endurus specializes in value-add multifamily real estate that produces strong risk adjusted returns to investors. With decades of experience, we know how to protect investor capital in any market cycle. Your smart decision in investing with real estate is made easier with Endurus Capital.
9:00 AM Capital Markets: Interest
Rate Challenges
Moderator: Lucas Goring, Senior Vice President, Debt & Equity, Northmarq
John Minor, Director, Proterra Real Estate Partners
John Rent, Senior Vice President, Associated Bank
Matt Wozniczka, Commercial Real Estate Director, Bremer Bank
Nick Place, Chief Lending Officer, Bridgewater Bank
Rafi Golberstein, Chief Executive Officer, PACE Loan Group
Todd Dexheimer, Co Founder & Principal, Endurus Capital
• Interest rates’ impact on capital access and property values.
• Managing risks with favorable financing and rate protection.
• Inflation’s effect on capital costs and project profitability.
• Updates on Fannie Mae, Freddie Mac, and HUD programs.
• Creative financing and navigating tightening credit conditions.
• Securing construction loans in a fluctuating market.
• Long-term debt strategies: fixed vs. variable rates.
• 2025 interest rate forecast and capital market outlook.
SPEAKER PROFILES: Panel 2
Lucas Goring
Senior Vice President, Debt & Equity
Northmarq
Lucas Goring is a senior vice president of Debt + Equity in the Minneapolis office. He is responsible for the origination and placement of debt and equity across a range of income-producing property types, predominantly in the Twin Cities. Throughout his 20 year career, Lucas has arranged financing for a diverse array of real estate investors, including publicly traded REITs, regional and local developers, funds, highnet-worth individuals and family trusts. His extensive experience spans the financing of multifamily, industrial, office, medical office, retail, mixed-use, hospitality and parking properties. Lucas utilizes a variety of capital sources, including Fannie Mae, Freddie Mac, correspondent life companies, banks, credit unions, CMBS, private lenders and debt funds.
SPEAKER PROFILES: Panel 2
John Minor
Director
Proterra Value Investors
Prior to joining Proterra, John spent nearly a decade in real estate securities management, most recently as a Vice President and Portfolio Manager at Heitman. In this role, John’s responsibilities included shared oversight of portfolio construction, risk management, and investment decision making for the firm’s $3.8 billion securities business. He also maintained direct coverage and sector lead responsibilities for US residential and Canadian real estate. In 2023, John was named one of 10 “TopGun Investment Minds” for the US Real Estate / REIT Sector by Brendan Wood International. John began his career at FactSet Research Systems and got his start in real estate as a securities analyst at Principal Real Estate Investors. John received a BS in Finance at Miami University and is a CFA Charterholder.
SPEAKER PROFILES: Panel 2
John Rent
Senior Vice President
Associated Bank
John Rent is a Senior Vice President of Commercial Real Estate at Associated Bank, managing client relationships for regional commercial real estate investors and developers and financing projects across the country. Prior to joining Associated Bank, John spent 20 years at Wells Fargo, most recently as Director and commercial real estate coverage officer for the upper Midwest, leading client strategy for customers in an eight-state region and managing a $1.5 billion portfolio of commercial real estate loans. John received a B.A. degree in Economics from Carleton College and an M.B.A. from the University of Minnesota’s Carlson School of Management. He is a leader and member of various industry and civic groups, including a board member of the Minneapolis Downtown Council, Membership Co-chair of the Urban Land Institute - Minnesota, as well as a member of the National Association of Industrial and Office Properties (NAIOP).
Through innovative technology and partnerships, we believe in transforming built environments into vibrant, sustainable ecosystems that prioritize both human well-being and environmental stewardship.
Together, we’re not just improving air — we’re improving lives.
SPEAKER PROFILES: Panel 2
Matt Wozniczka
Commercial Real Estate Director
Bremer Bank
Matt Wozniczka is the Director of Commercial Real Estate at Bremer Bank, where he manages customer relationships and strategies for commercial real estate investors and developers. Since joining Bremer in 2022, Matt’s primary focus has been finding consistent solutions for commercial real estate customers, driving balanced revenue growth, and delivering market and product expansion. Matt began his nearly 20-year career in CRE with Wells Fargo’s Commercial real estate team in Minneapolis, before leading national commercial real estate growth efforts for Thrivent Financial.
SPEAKER PROFILES: Panel 2
Nick Place
Chief Lending Officer
Bridgewater Bank
Nick Place serves as Chief Banking Officer, where he oversees all aspects of client growth and relationship management, including lending, treasury management, deposit services, and marketing. Since joining the bank in 2007, Nick has played a key role in driving revenue growth and positioning Bridgewater as a premier Twin Cities’ commercial bank. As Bridgewater’s former Chief Lending Officer, Nick led the lending team and managed Bridgewater’s loan portfolio, playing a key role in building and maintaining client relationships. Nick also serves on the boards of Rethos Places Reimagined and Minnesota Housing Partnership, and frequently contributes as a guest speaker on various commercial real estate panels across the region.
SPEAKER PROFILES: Panel 2
Rafi
Golberstein
Chief Executive Officer
PACE Loan Group
Rafi is a commercial real estate finance veteran with over 15 years of experience in CRE structured finance, loan origination, and equity investments. Prior to founding PLG, Rafi spent his career on Wall Street where he was a Managing Director at Ladder Capital, a publicly traded REIT. At Ladder, Rafi focused on CMBS origination, balance sheet, and mezzanine loans as well as equity investments. Prior to Ladder, Rafi worked at Gramercy Capital conducting asset management and loan workouts. Rafi began his career at Credit Suisse in its large loan commercial real estate group. Throughout his career, Rafi has originated and closed over $2.5 billion of commercial real estate loans throughout the country. Rafi has a BS from Ithaca College in Ithaca, New York.
Todd Dexheimer
Co Founder & Principal
Endurus Capital
Todd began investing in Real Estate in 2008 and has purchased and renovated apartments, single family homes, a mobile home park and even a ski resort. Todd is the owner of Cretin Construction, and is licensed as a general contractor. Todd is also the host of the podcast Pillars of Wealth Creation, which is a bi-weekly podcast teaching others on how to operate successful businesses. Todd lives with his wife and two kids in Mahtomedi, Minnesota.
Break 9:55 AM - 10:15 AM
10:25 AM Construction, Architecture & Design Trends
Moderator: Joyce Stupnik, President | Partner, BDH
Amy Cheever, Principal | Executive Director, Cuningham
Brian Corcoran, Architect & Senior Project Manager, Firm Ground Architects & Designers
Devon Lundy, Partner, Architect, UrbanWorks Architecture LLC
John Nordstrom, Managing Partner, Mechanical Engineer, Emanuelson-Podas, Inc.
Pete Keely, President, Collage Architects
Rusty Williams, Senior Project Manager, Benson-Orth General Contractors
Sarah Stanke, Vice President Interior Design/Partener, Kaas Wilson
• Design trends: shaping tenant expectations and living spaces.
• Technology’s role in smart, connected living environments.
• Innovative, sustainable construction techniques and materials.
• Flexibility in design for adaptable living spaces.
• Remote work’s influence on residential layouts.
• Rise of mixed-use developments and adaptive reuse projects.
• 2025 construction and design outlook.
May 1, 2025
3:30PM-5:00PM HAPPY HOUR | 5:00PM-7:30PM AWARDS PROGRAM
DoubleTree by Hilton Hotel Bloomington | 7800 Normandale Boulevard, Minneapolis, MN
SUBMISSIONS NOW OPEN
SPEAKER PROFILES: Panel 3
Joyce Stupnik
President |
Partner
BDH
I provide leadership and design expertise at one of the largest interior and architectural design firms in the Twin Cities area. I have focused my design career on studying how people interact with their space. Specializing in senior living and multi-housing design, I am passionate about customized design and believe that the architectural spaces I create should engage and enrich the end user. As leader of the firm’s housing sector, I instill these principals into our entire design team.My role has grown over the years to become a leader within our office, specifically focusing on the firm’s marketing and business development efforts. My analytical approach is utilized within my role on the firm’s EOS Leadership Team, where I excel at problem solving, risk mitigation, and strategic planning. Our firm is centered around people, and sitting in a leadership position allows me to build a supportive, creative, and fun workplace for our entire team.
SPEAKER PROFILES: Panel 3
Brian Corcoran
Architect & Senior Project Manager
Firm Ground Architects & Designers
Brian’s genuine belief in the craft of architecture and the built environment, combined with his focus on environmental responsibility, produces practical yet emotionally responsive design solutions. Working closely and collaboratively with the design team, owner and user groups, he cherishes the rewarding experience and unique challenges every project provides, never overlooking the quality service his clients deserve.
SPEAKER PROFILES: Panel 3
Devon Lundy Partner, Architect UrbanWorks Architecture LLC
Devon Lundy strives to design buildings that not only answer the immediate design problem, but make a statement about who we are. He understands how buildings go together. A critical thinker and the first one to ask a question, Devon thoughtfully develops concepts, strategies and solutions to clearly articulate the client’s vision. He is fascinated by the web of decisions, precedents, and circumstances that have brought us to our present built environment, and continues to thread through our designs for the future.
John Nordstrom
Managing Partner, Mechanical Engineer Emanuelson-Podas, Inc.
I am a mechanical engineer at Emanuelson-Podas. EP is a mechanical, electrical and plumbing consulting firm - we help owners and architects by getting water, air, light and power to the places in a building that matter most - efficiently and sustainably. When I was a child, I used to get in trouble for spreading my father’s tools out all over the yard, taking my bike apart, and then taking the rest of the neighborhood’s bikes apart. I later moved on to snowmobiles, dirt bikes, and lawn tractors. I love the smell of two cycle engines. I wanted to be an auto mechanic, but my mother pushed for college. I ended up as a U of M graduate in Mechanical Engineering, which fits my interests perfectly.As the oldest of ten children and the first generation in the family to attend college, hard work has been expected through my entire life. My parents and grandparents were and still are self-employed business owners. Working in two family businesses - in the factory (Swanson Tool) and trench (J Nordstrom Plumbing) - throughout high school and college, I was able to learn what engineering applied can really provide. I not only provide engineering solutions, I can do them and be hands on when necessary. Mechanical engineering has continued to fuel my ongoing interest in how things work.
SPEAKER PROFILES: Panel 3
Pete Keely President
Collage Architects
Pete is the founder and primary owner of Collage Architects, which formed in 2008. Pete was previously an owner of Landmark Community Builder Collaborative, and Collage Urban Design Studio, from June 2005 until 2008. He was also a shareholder and employee at ESG Architects from 1992 to 2005, where he was responsible for all aspects of design management, documentation, and construction.
SPEAKER PROFILES: Panel 3
Rusty Williams
Senior Project Manager
Benson-Orth General Contractors
“With a strong foundation in commercial construction and a focus on multi-family projects, Rusty brings 27 years of hands-on experience to every build. His passion lies in creating environments where people can thrive, from senior and assisted living facilities to student housing, upscale condominiums, and affordable housing solutions. Rusty’s approach is grounded in accountability and collaboration. He thrives in team settings, ensuring every member is aligned with the project’s goals while holding himself to the highest standards. Beyond building structures, Rusty enjoys mentoring others and sharing the insights he’s gained throughout his career. Guided by the belief that everyone deserves a clean, safe, and desirable place to live, Rusty takes pride in delivering projects that improve lives and elevate communities. His commitment to excellence and dedication to the craft are evident in every project he undertakes.”
Sarah
Stanke
Vice President Interior Design/Partener
Kaas Wilson
I specialize in design for all varieties of multi-family housing and lead a team of designers to create beautiful and functional spaces for people to live in.
THANK YOU TO OUR SPONSORS
Operations & Management Trends
Moderator: Brent Rogers, Founder & Chief Executive Officer, Saturday Properties
Brad Nelson, Founder CEO, Level 10 Management
Heather Fleetham, Vice President of Operations, Willow Bridge
Jamie Luehrs, SVP of Property Management, Roers Companies
John Bailey, Regional Director, Weidner Apartment Homes
Leanna Stefaniak, President, Real Estate and Development & General Counsel, At Home Apartments, LLC
Shaun Chambers, Director Of Commercial Services, In-Focus Systems
• Centralized management models and optimizing on-site staffing with fewer full-time employees
• Implementing bulk internet services and utility cost recovery programs
• Adapting flexible lease structures and utilizing dynamic pricing for revenue optimization
• Navigating the impact of new regulations on operational teams, with distinctions between urban (Minneapolis/St. Paul) and suburban areas
• Streamlining maintenance and service workflows through advanced technology solutions
• Enhancing tenant retention and resident satisfaction through community engagement and improved amenities
Level 10 Managment
As the founder and Chief Executive Officer of Level 10 Management, Brad’s primary focus is the oversight of all acquisitions, operations and business functions. As Level 10 continues to grow, Brad plays a key role in carrying out his vision for our organization and guiding our team to execute on and realize his vision. Before founding Level 10, Brad served as the Vice President of Property Management for a local developer and directly supervised the management of 200MM worth of assets. Brad holds a bachelor’s degree in Business Administration, a Minnesota Real Estate License and is a member of the Minnesota Multi-Housing Association.
Brad Nelson
Founder CEO
SPEAKER PROFILES: Panel 4
Brent Rogers
Founder & Chief Executive Officer
Saturday Properties
As the founder of Saturday Properties, Brent is passionate about finding underutilized real estate and breathing new life into old buildings and changing neighborhoods. He is a calculated risk-taker, creative leader, numbers geek, husband to Tanya and dad of 3 kids, and waterskiing addict. As a developer with 20 years of hands-on experience, Brent formed Saturday Properties in 2015 to provide boutique property management and development services to the thriving Minneapolis multifamily and mixed-use industry. Since then Saturday has grown to manage 2,000 apartments and 100,000 SF of commercial real estate with more than 100 talented employees. Brent is a regular speaker and contributor at industry events and immerses himself in the design and development process for all new Saturday projects.
Heather Fleetham
Vice President of Operations
Willow Bridge
As Vice President of Operations, Heather is responsible for overseeing all multifamily management related activities, including Regional Property Managers and the Operations Team. In addition, she oversees 5,000+ units currently under management and in development/lease-up. Heather is also responsible for managing client relationships, internal risk factors and ensuring efficiency and relevance with their internal processes. Previously, Heather was a Vice President with The Excelsior Group where she successfully helped to grow the team and lead the operations team through the Lincoln Property Company acquisition. Her combined experience focus has been in market rate assets, new development and lease ups, mixed-use, and construction management. Heather earned her Certified Property Manager (CPM) designation from the Institute of Real Estate Management in 2016.
SPEAKER PROFILES: Panel 4
Jamie Luehrs
SVP of Property Management
Roers Companies
As Senior Vice President of Property Management, Jamie leads the Roers Companies property management, leasing, portfolio marketing, and compliance teams. Jamie plays a pivotal role in overseeing the strategic planning and execution of property management operations for a diverse portfolio of properties across the nation.Jamie’s responsibilities include developing and implementing effective property management strategies, optimizing property performance and profitability, overseeing leasing operations, and ensuring regulatory compliance. She also leads a team of talented property management professionals, fostering a collaborative and high-performing work environment.Jamie holds her bachelor’s degree in business administration and is a Certified Property Manager (CPM) through the Institute of Real Estate Management. Beyond her professional accomplishments, Jamie is known for her strong ethical values and commitment to community engagement. She actively participates in various industry associations and initiatives aimed at promoting sustainable practices and fostering positive change within the real estate community.
Regional Director
Weidner Apartment Homes
John Bailey is the Regional Director for Weidner Apartment Homes, overseeing operations across Greater Minnesota. He holds a Bachelor’s degree from the University of Notre Dame and an MBA from Marquette University. Since joining Weidner in 2013, John has gained extensive experience in apartment operations and development, with a focus on the Minneapolis-St. Paul metro area, Greater Minnesota, as well as key Wisconsin markets, including Madison and Milwaukee.
John Bailey
SPEAKER PROFILES: Panel 4
Leanna Stefaniak President, Real Estate and Development & General Counsel
At Home Apartments, L.L.C.
As the President of Real Estate and Development, and as General Counsel of At Home Apartments, L.L.C., I oversee and execute the legal and strategic aspects of the company’s multifamily, commercial, and industrial real estate portfolio. With more than 15 years of experience in the real estate industry, I have a proven track record of managing complex transactions, negotiating leases, resolving disputes, and ensuring compliance with all relevant laws and regulations.I also lead the company’s growth and expansion initiatives, identifying and pursuing new opportunities, developing and maintaining relationships with key stakeholders, and overseeing the acquisition, development, and financing of new properties. My dual role allows me to leverage my legal expertise and business acumen to create value for the company, its investors, and its tenants. My mission is to provide highquality, sustainable housing and commercial spaces that enhance the communities we serve.
Shaun Chambers
Director Of Commercial Services
In-Focus Systems
SPEAKER PROFILES: Panel 4
Angie French
Vice President
MCMC
A dedicated and respected real estate professional with proven results in the multihousing industry. Elected and served as Board Chair for the Minnesota Multi Housing Association (MHA) in 2012. Over 25+ years experience which has given me the opportunity to grow in my roles from site level positions to corporate office level positions
PM New Development Outlook
Moderator: Joseph Peris, Director, JLL Capital Markets
Austin Morris, Co-Founder & CEO of Development, Enclave Companies
David Stofer, Executive Director of Development, MV Ventures | Viking Lakes
Evan Doran, President, The Doran Group
Jeff Koch, Owner, Norsq Development
Katie Anthony, Vice President of Development, Schafer Richardson
Maureen Michalski, Senior Vice President of Real Estate Development, Ryan Companies
• Highlighting key new apartment developments.
• Trending amenities: wellness, smart tech, and co-working spaces.
• Hot submarkets for new development: urban and suburban growth.
• Navigating zoning and regulatory challenges.
• Financing strategies amid fluctuating rates and inflation.
• Repositioning older properties for modern renters.
• Future trends in apartment development.
Joseph brings a strong background in business partnerships, negotiation, brokerage and finance, with expertise in financial modeling to his role as Director of Development in Ryan’s North Region. He works with the mixed-use development team, focusing on office and multifamily product types, supporting current work and active pursuits. Joseph is passionate about positively impacting urban spaces through smart real estate development and his enthusiasm is contagious. He enjoys the diversity of the work and the ability to collaborate with experts across Ryan’s service areas to consider all aspects of a deal or project. Relationship-minded and results-driven, he focuses on bringing value to our customers through creative solutions.
Joseph Peris Director
JLL Capital Markets
SPEAKER PROFILES: Panel 5
Austin Morris
Co-Founder & CEO of Development Enclave Companies
Austin is a co-founder of Enclave and shares in the strategic and operational responsibilities. He is also responsible for development and investment property analysis, multifamily design oversight, partnership structures, financing, and sale-leasebacks.
David Stofer
Executive Director of Development
MV Ventures | Viking Lakes
Executive Director of Development for MV Ventures, a Wilf family owned, full-service commercial real estate and events company investing across the metro including downtown Minneapolis and at Viking Lakes, our 200+ acre mixed-use master development and the Minnesota Vikings World Headquarters and Training Facility.
SPEAKER PROFILES: Panel 5
Evan Doran
President
The Doran Group
Evan Doran is president of The Doran Group, a multigenerational award-winning real estate firm based in Eden Prairie, Minnesota. In his role, Evan sets the strategic direction for the company, which is known for developing, designing, building and managing high-end real estate throughout the Twin Cities and Denver. The Doran Group’s current portfolio includes several high-end retail centers in the Twin Cities and more than 3,000 luxury apartment units, with a combined value of more than a billion dollars. Prior to joining the family development business, Evan worked in California with the Sydell Group, developing high-end boutique hotels and supporting projects like The Freehand Hotel in Los Angeles and The Line Hotel in Austin, TX. After returning to Minnesota five years ago and developing all of The Doran Group’s crucial projects over the past several years, including Lyra Apartments in Centennial, CO, The Ruby Apartments in St. Anthony, MN and the final two buildings within The Reserve at Arbor Lakes in Maple Grove, MN, Evan assumed the role of President of The Doran Group in 2022. Evan holds an undergraduate degree in International Affairs from George Washington University, and a master’s degree in Real Estate from Cornell. Evan serves on the Board of Directors for People Serving People and International Institute of Minnesota.
Katie Anthony
Vice President of Development
Schafer Richardson
Responsible for leading Schafer Richardson’s Real Estate Development team and integrating development services with the company’s other service offerings. Experienced in affordable and market rate multifamily development, mixed use development, adaptive reuse, and repositioning assets. Passionate about functional and sustainable design. Katie is adept at leading teams through all aspects of the development process from feasibility analysis and financial modeling to construction management and marketing & lease-up.
SPEAKER PROFILES: Panel 5
Jeff Koch
Owner
Norsq Development
Nörsq Companies founder Jeff Koch has over 20 years and over $2 Billion of real estate investment and development experience. Jeff successfully helped start and build Roers Companies, which, during his 10 years of ownership, saw the firm grow from it’s first 40 unit apartment building to over 68 multifamily communities, comprising of over 10,000 units and development value of over $2 Billion. Jeffs real estate career started in 2002 when he started purchasing single family homes, fixing them up himself over nights and weekends, and selling for a profit continually building an investment nest egg in real estate as his “side gig” while working at Target Corporation Headquarters. Jeff has been buying and selling real estate in an active and passive Role since then which began the path tonew multifamily development in 2012. At the end of 2022 Jeff decided to sell his ownership shares in Roers Companies to the two remaining owners to pursue starting a new development company to pursue Build to Rent “ BTR” and market rate multifamily developments fused with Scandinavian designs and cost conscious construction methods in MN and TX.
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Maureen Michalski
Senior Vice President of Real Estate Development Ryan Companies
Maureen leads the mixed-use team for Ryan’s North Region and is responsible for multifamily and specialty projects from site selection through development and asset stabilization. As the executive-in-charge of the 122-acre Highland Bridge redevelopment in Saint Paul, Minnesota, Maureen oversees the financial and risk management of this transformative, mixed-use development, which is Ryan’s largest development to-date. Maureen has more than two decades of development experience and has created $1 billion in asset value of multifamily (market rate and affordable), mixed-use, office and adaptive reuse projects. She is accomplished in leading large multidisciplinary teams of design, construction, development and other real estate experts to execute complex projects. In addition, Maureen is highly regarded for her ability to cultivate authentic relationships with partners, investors, clients, government entities and community stakeholders to create and achieve shared visions.
May 1, 2025
3:30PM - 5:00PM COCKTAIL HOUR 5:00PM - 7:30PM DINNER & PROGRAM
975 attended in 2024!
DOUBLETREE BY HILTON HOTEL BLOOMINGTON 7800 NORMANDALE BOULEVARD, MINNEAPOLIS, MN
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SUBMISSION DEADLINE: FEBRUARY 23, 2025