How to Approach U.S. Multifamily Investing: Risks and Returns in 2025+
- NCC IQ
- Aug 22
- 3 min read
The U.S. multifamily sector continues to stand as one of the most resilient investment classes, even during moments of capital market strain. Investors are recalibrating strategies in response to shifting interest rates, evolving demographics, and varying capital flows. At the NCC IQ “ReInvested: Navigating Growth, Risk, and Return in U.S. Multifamily Real Estate” virtual event, Dustin Miles, Principal and Managing Partner at Momentum Multifamily, will share his perspective on how cycles, capital, and corrections shape long-term outcomes for investors.
With more than 15 years of industry experience, Miles has built a reputation for identifying attractive opportunities across diverse market environments. Under his leadership, Momentum Multifamily has acquired over 1,550 units representing approximately $241 million in capitalization. Prior to co-founding the firm, he successfully acquired more than 1,400 units totaling $96 million in capitalization. His track record reflects a disciplined approach to sourcing, underwriting, and managing assets that deliver consistent investor returns.
On November 15th, from 10:30-11:20 AM EST, Miles will join a panel of leading voices in the session “U.S. Multifamily 2025+ Outlook: Cycles, Capital, and Corrections.” This discussion will address critical factors shaping multifamily performance and how investors can prepare for both challenges and opportunities in the coming years.
Key Themes of the Session
The session will center on three core dynamics affecting multifamily investment decisions in the near term:
Focus Area | What Investors Should Watch |
Cycles | Supply pipelines, rent growth trends, absorption rates, and regional demand drivers. |
Capital | Interest rate trajectory, debt availability, equity flows, and institutional appetite. |
Corrections | Pricing adjustments, distressed opportunities, recapitalizations, and timing entry points. |
This framework provides a lens through which investors can evaluate not just near-term risks but also durable growth prospects through 2025 and beyond.
Dustin Miles’ Perspective
Dustin Miles brings the practical experience of an operator and capital allocator. His firm, Momentum Multifamily, has consistently demonstrated a disciplined strategy, emphasizing acquisitions with strong fundamentals and opportunities for operational improvement. Miles has navigated through periods of expansion and correction, giving him a balanced perspective on what drives performance across cycles.
Investors and developers will find his insights timely as they weigh questions such as:
How should underwriting adapt to higher borrowing costs?
Where do value-add opportunities remain compelling?
What role will capital play in supporting transaction volume?
How can operators position assets to maintain occupancy and NOI growth amid economic headwinds?
Why Attend
The NCC IQ event convenes more than 40+ influential figures from across real estate and technology, including leaders from Rise48 Equity, RealPage, Multifamily Acquisition Advisors, Carbon, Encore Real Estate Investment Services, DD Capital Advisors, Peak 15 Capital, and others. Attendees will gain access to diverse perspectives spanning investment, operations, policy, and technology.
The U.S. multifamily sector is entering a period where discipline, strategy, and insight matter more than ever. By joining sessions like “U.S. Multifamily 2025+ Outlook: Cycles, Capital, and Corrections”, attendees will hear directly from seasoned practitioners such as Dustin Miles on how to align investment decisions with market realities.
No Offer or Solicitation
This communication is intended solely for informational and educational purposes. It does not constitute, and shall not be construed as, an offer, invitation, or solicitation to purchase, acquire, subscribe for, sell, or otherwise dispose of any real estate investments, securities, or related financial instruments. Nothing contained herein should be interpreted as a recommendation or endorsement of any specific investment strategy or opportunity. Furthermore, this communication does not represent, and shall not be deemed to constitute, the issuance, sale, or transfer of any real estate interests in any jurisdiction where such actions would be in violation of applicable laws, regulations, or licensing requirements.
About NCC IQ
NCC IQ is the official real estate eLearning platform of NCC (Northstar Capital & Co.), developed to support the ongoing education and advancement of industry professionals. The platform offers a robust mix of premium and complimentary resources—including on-demand videos, live virtual events, industry podcasts, eBooks, and expert-authored articles—designed to deliver actionable insights and practical tools. Stay informed by following us on LinkedIn and Instagram for the latest educational content and market updates.
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