How to Position Multifamily Investments for Yield in a Challenging Capital Environment: Insights from Tim Kavanaugh
- NCC IQ
- Aug 22
- 3 min read
The U.S. multifamily sector continues to attract investors seeking long-term stability, yet higher capital costs are reshaping acquisition strategies across the country. At the upcoming NCC IQ “ReInvested: Navigating Growth, Risk, and Return in U.S. Multifamily Real Estate” virtual event (November 15–16, 2023), more than 40 respected leaders in real estate, investment, technology, and policy will provide investors with timely strategies for a shifting market environment.
Among the featured speakers is Tim Kavanaugh, Broker at Essex Realty Group, LLC, who will bring direct experience from Chicago’s North Side, where he specializes in multifamily and mixed-use investment sales. Having successfully closed more than 70 transactions earlier in his career as a residential investment broker, Kavanaugh understands the mindset of both seasoned and emerging investors.
He will join the panel discussion “The Hunt for Yield: Finding Multifamily Deals in a High-Cost Capital Environment” (3:10-4:00 PM EST, November 16), where investors, developers, and operators will examine current strategies for deal sourcing, underwriting, and yield preservation in the face of rising borrowing costs.
Multifamily Investment in a Higher-Cost Era
Rising interest rates have reshaped how capital flows into multifamily transactions. Debt terms are tighter, underwriting assumptions are more conservative, and value-add opportunities are scrutinized with greater discipline. Yet demand drivers, population growth, affordability pressures in single-family housing, and demographic trends — continue to underpin long-term rental demand. Investors active in the space are recalibrating, searching for assets that provide reliable cash flow while hedging risk. Deal structures are adapting, with partnerships, creative financing, and selective acquisitions forming the basis of current strategies.
This panel will provide investors with clarity on how experienced operators are approaching acquisitions in 2024-2025, including practical approaches for identifying transactions that still deliver yield.
What Attendees Can Expect from This Session
During this panel, industry leaders will share:
Market Positioning: Which U.S. markets continue to present opportunities despite higher borrowing costs.
Capital Strategies: How private and institutional investors are approaching equity and debt in today’s environment.
Risk Assessment: How underwriting standards are adjusting to manage inflationary pressures and rising expenses.
Yield Creation: Where value can still be extracted—through repositioning, operational efficiencies, and selective capital improvements.
Why Register for NCC IQ “ReInvested”
The NCC IQ event brings together executives from Rise48 Equity, RealPage, Multifamily Acquisition Advisors, Encore Real Estate Investment Services, DD Capital Advisors, Peak 15 Capital, and many others, creating a rare forum for candid insights across the multifamily ecosystem.
With interest rates resetting investment expectations, this is an opportunity to hear how seasoned professionals like Tim Kavanaugh and his peers are sourcing deals that remain competitive and profitable.
Relevant Session Insights: The Hunt for Yield
Factor | Current Trend (2023–2024) | Investor Takeaway |
Interest Rates | Elevated, limiting leverage | Focus on conservative debt assumptions |
Cap Rates | Widening, especially in secondary markets | Potential entry points for long-term investors |
Equity Requirements | Higher due to reduced leverage | Stronger emphasis on capital partners |
Rent Growth | Slowing but stable in many metros | Underwriting must reflect realistic growth |
Value-Add Opportunities | More selective, higher cost of improvements | Discipline required in renovation budgets |
Investor Appetite | Active but cautious | Deals require stronger fundamentals |
Register today for the NCC IQ “ReInvested” virtual event to hear from Tim Kavanaugh and 40+ other leading voices. With the multifamily sector adjusting to higher capital costs, this gathering offers the strategies and perspectives investors need to position themselves for durable growth and resilient returns.
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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