In this episode of The Brinkman Report, host Kevin Brinkman and guest Chris Nebenzahl discuss the multifamily rental market’s current trends, including a supply-demand imbalance, rising interest rates, and cautious investor sentiment. While supply has outpaced typical absorption levels, strong demand and a pullback in new construction suggest stabilization ahead. They also explore challenges in cap rate compression, extended investment timelines, and highlight resilient markets like Denver and Boise. The episode closes with a look at the national housing shortage, emphasizing continued rental demand as homeownership remains out of reach for many.

In this episode of the Brinkman Report, host Kevin Brinkman, along with COO Dan Metzger and CFO Peter Yoo, explores the state of the multifamily market, particularly in the Mountain West. They discuss the sharp decline in new apartment starts following a peak in 2023, its impact on supply and demand, and regional rent growth trends—highlighting Boise and Missoula’s positive outlook versus Salt Lake City’s oversupply challenges. The conversation covers tenant retention strategies, labor market difficulties, and the insurance and financing landscape, where agency lenders offer competitive terms. They conclude with a stable outlook on interest rates, emphasizing the need for strategic management to navigate market fluctuations.

GUEST INFO:

Pete Yoo, CFO, Brinkman Real Estate

pete.yoo@brinkmanre.com

Dan Metzger, COO, Brinkman Real Estate

dan.metzger@brinkmanre.com

In this episode, Kevin Brinkman hosts an insightful discussion with legal expert Russell Hedman and entrepreneur Sasha Stern. They dive into their predictions for the economy in 2025, covering key topics such as interest rates, inflation, GDP growth, and the impact of AI on the labor market.

Discover their thoughts on the future of real estate, the potential for a soft landing in the economy, and the implications of deregulation in various sectors. They also explore the evolving landscape of sports team valuations and the transformative potential of autonomous vehicles on urban real estate.

GUEST INFO:

Russell Hedman, Partner, Hogan Lovells

russell.hedman@hoganlovells.com

Russell Hedman leads and negotiates complex M&A and investment transactions around the world, with a particular focus on sports teams and private equity. Russell's combination of experience and enthusiasm has made him a trusted advisor to clients across industries.

Russell’s notable sports team transactions include leading the acquisition of the Denver Broncos for the Walton-Penner ownership group, the buyout and subsequent sale of the Brooklyn Nets and the Barclays Center for Onexim Sports & Entertainment Holdings, and the 2021 recapitalization of the San Antonio Spurs.

Russell also leads transactions for numerous private equity and venture capital sponsors working across industries, including Mountaingate Capital, Talkot Capital, SymBiosis Capital Management and various others sponsors and portfolio companies.

An active contributor to the Denver community, Russell’s current and past board roles include the Colorado Black Chamber of Commerce (policy committee chair), Ensemble Innovation Ventures (parent company to Delta Dental of Colorado), Denver Public Schools Foundation, Rocky Mountain Prep and Youth On Record.

Russell graduated from Harvard Law School in 2011, where he served on the academic affairs committee of the Harvard Black Law Students Association. He also co-founded the Harvard Caribbean Law Association.

Sasha Shtern, CEO, Goally

sasha@zerogcapital.com Sasha is a long-time Denver resident and serial entrepreneur. In high school he wanted to be a race car driver, so he wrenched on cars for two years in the vocational auto program. Then he studied finance at the University of Colorado with the hope of being a stockbroker. Sasha got his business start selling bathtubs on Ebay in the early 2000s. That venture evolved into a successful ecommerce business and home improvement manufacturing business. Sasha was president of Entrepreneurs Organization Colorado, co-founder of Ethereum Denver, and founder of Colorado Liftoff. As a coach and mentor, Sasha has worked with over 200 business owners.