December 2025 GCNKAA Apartment Advantage Online Newsletter
GOINGGOINGGONE! GCNKAA2025HOLIDAYCHEERS!
EAT, DRINK AND SHOP AT HOLIDAY CHEERS PARTY
Do you hear what we hear? It’s time for the 2025 Holiday Cheers Party & Outreach Benefit! We’re ringing in the 28th year of this beloved tradition, and the committee and Associate Council have been working hard to make it our best celebration yet. That means you can bid, give, and get festive either from your couch or in person on Thursday, December 4, starting at 5 PM at the Savannah Center located at 5533 Chappell Crossing Boulevard in West Chester. This year’s event features a delicious buffet dinner and five fantastic ways to support the Apartment Association Outreach (AAO)!
a strand. We will do 20 flips or 20 minutes - whichever comes first. Then, anyone with beads remaining will go to the Sudden Death round. The last person standing with beads remaining wins $1000; followed by second place with $750; and third place at $500.
All purchases made at the benefit are tax-deductible to the fullest extent allowable by law. For more details, see inside this newsletter.
The silent auction launched online Tuesday, November 25 and will run through close during the live event on December 4. If you are registered to attend the live event, check your email for details on setting up your online account to begin bidding. If you are NOT attending the live event, but still would like to participate in the silent auction bidding, click here.
The GCNKAA Holiday Cheers Benefit provides FIVE different opportunities in which you can participate. First, you may purchase raffle tickets and try your luck at winning an item in the raffle. Second, if you don’t want to leave an item to luck, you can test your perseverance in the silent bid benefit. Of course, the Mystery Bags return this year allowing you to purchase a Wine Mystery Bag for $40 OR a Bourbon Mystery Bag for $75! Each bag consists of a bottle of wine OR bourbon and a scratchoff lottery ticket. Some lucky bourbon mystery bags will also include $50 cash! Our Deck The Walls Raffle gives you a 1-in-52 chance to win your choice of one of 10 fabulous prizes. Simply make your selection and we will have the item shipped directly to you. And finally the Heads or Tails Contest returns. You may purchase up to 10 beaded necklaces for 5 for $50 or 10 for $80. Select heads or tails for each coin toss. If you guess correctly, you keep your beads; if you guess incorrectly, you remove
Thank you to Ackermann Group, Brandstetter’s KangaRoof, HD Supply, Katz Sapper & Miller CPAs, and Klekamp and Company for sponsoring the Heads or Tails; Pinnacle Paving and Sealing for being an Event Sponsor; AmRent, Bernecker Brothers Roofing, BRG Apartments, Ferguson Facilities Supply, and Sundance Property Management for sponsoring the Mystery Bags; and to Houchens Insurance Group, Pella Windows, Rent Manager, Residences at Montgomery Quarter, RoofRestor Cincy, SNS Management, and Tri-Weh Restoration & Cleaning for sponsoring the Deck The Walls Raffle; and to First Green Commercial Landscaping and Fath Properties for sponsoring the decorations.
All net proceeds support the Apartment Association Outreach, a 501(c)(3) nonprofit providing emergency rent assistance to individuals facing unexpected hardships. Each month, AAO supports housing departments at the Free Store Foodbank, CAIN, Jewish Family Service, and Santa Maria Community Services — totaling more than $148,000 in assistance annually.
Admission is now $100 per person and increases to $120 at the door. Free parking, free food, and free beverages is sponsored by the Association.
1-TOM-PLUMBER WINS FIRST EVER GCNKAA PINS AND PINTS BOWLING TOURNAMENT
Our first-ever GCNKAA Pins & Pints Bowling Tournament on Friday, November 14 was a tremendous success, bringing together great teams, friendly competition, and plenty of fun. We are excited to congratulate 1-TomPlumber for winning the inaugural tournament! Their talented lineup—Cy Knecht, Clay Nickel, Phil Barfield and Dwayne Parks with Morgan Properties, and Tyler
Sizemore with Uptown Rental Properties—delivered an outstanding performance that earned them the top spot.
We also want to recognize some standout teams for their creativity and spirit. Brandstetter’s Kangaroof took home the award for Best Team Uniform, while the clever and entertaining team name from Nerya and BRG Apartments earned them the Best Team Name award. Individual honors also deserve a spotlight, as Brian Brugett captured Best Game and Series for men and Mackenzie Brooke secured Best Game and Best Series for women.
Thank you to all the bowlers, supporters, and sponsors who helped make this debut event such a memorable success. We’re already looking forward to next year’s tournament!
Regan Tassell, Education & Social Media Coordinator
Susan Peck, AA Outreach Coordinator
Nicole Metz, Membership Coordinator
GCNKAA PAST PRESIDENTS
2024...Melissa Joy
2023...Tonya Petersen
2022...Tonya Petersen
2021...Don Brunner
2020...Don Brunner
2019...Jud Oscherwitz
2018...Jud Oscherwitz
2017...Stacy Walton
2016...Stacy Walton
2015...Rusty Lykes
2014...Rusty Lykes
2013...Maria Stanton
2012...Maria Stanton
2011...Jeff March
2010...Brian Fullenkamp
2009...Brian Hendy, CPM
2008...Brian Hendy, CPM
2007...Becky Alejandrino, CPM
2006...Marc Cameron, CPM
2005...Marc Cameron, CPM
2004...Gary Sanzone, CPM, CAPS, CAM, NALP
2003...Gary Sanzone, CPM, CAPS, CAM, NALP
2002…Jim Ruh
2001…Jay Ingram, CPM
2000…Roy Wergers
1999…Roy Wergers
1998…Robert J. Wahlke, CAPS
1997…Terry Sievers
1997…Dave Lockard
1996…Jim Cohen, CPM
1995…Jim Ruh
1994…Mark Robinson
1993…David Noll
1992…Bernie Wessels **
1992…Jerry A. Molique, CPM, CAPS ** 1991…Jay O. Ingram, Jr., CPM
1990…Ronald Bommer
1989…John Cobey
1988…Robert J. Wahlke, CAPS
1987…Robert J. Wahlke, CAPS
1986…Charles Berling
1985…Joseph Fullenkamp, CAPS
1984…John Stalnaker
1983…Jerry A. Molique, CPM, CAPS
1982…Harry Fath
**Apartment Association of N. KY merged with GCNKAA
Office Hours: Monday Through Friday 8:30 am to 5:00 pm
ADVERTISING RATES 2025
The following advertising rates are for full year contracts. Six month contracts are also available. Call the GCNKAA office at 513 407-8612 for more information.
Ad rates are for full color ads. Link from your ad to your website is included. Ads must be submitted as a press quality pdf file or high resolution jpg sized correctly.
ADVERTISING DEADLINES
Ad deadlines are the first of the month for the next month’s issue. Placement of articles and ads is limited to pre-set space and dimensions of the Apartment Advantage. Submissions may or may not be used and placement is at the discretion of the editor
1,
Apartment Advantage is a monthly publication of the Greater Cincinnati Northern Kentucky Apartment Association, Kenwood Executive Center, 7265 Kenwood Rd, Ste. 100, Cincinnati, OH 45236; phone (513) 407-8612; fax (513) 407-7868. For up-to-date information check out our website: www.gcnkaa.org.
Across the Board
A MESSAGE FROM THE PRESIDENT
By Melissa Joy, President
Melissa Joy ACRE Management
As I write my final newsletter article as President of the Greater Cincinnati Northern Kentucky Apartment Association (GCNKAA), I am filled with tremendous gratitude. These past two years have been among the most rewarding of my professional journey, and that is entirely because of the members, partners, volunteers, sponsors, board, and staff who make this association exceptional. Thank you for your hard work, your energy, and your unwavering support. Together, we have elevated our mission, strengthened our voice, and continued to advance the multifamily industry across Greater Cincinnati and Northern Kentucky as well as nationally. To lead and serve among the best of the best in our industry is one thing, but to do so within an association which has been consistently recognized by the National Apartment Association (NAA) as an “Excelling Affiliate” has been as rewarding as it has been humbling. I’m eternally grateful for the opportunity to be surrounded by caring, talented, generous, impactful, and all-around exceptional human beings. Thank you, friends, from the depth of my soul.
Before we close out the year, I hope to see many of you at our Holiday Cheers Celebration on December 4 at The Savannah Center. It’s always one of my favorite events—an opportunity to connect, celebrate, and reflect on everything we’ve accomplished as a community. It’s always a great time to get dressed up, get festive, and support the incredibly important work of the Apartment Association Outreach (AAO). This year, perhaps more than any time in recent
This section contains articles and information concerning the Board of Directors and Association policies.
memory, the proceeds raised from our annual event will be put to use supporting those in need within our community. I did a little math as I sat down to say my final farewell as your President, and I believe I have attended some version of a GCNKAA holiday event for close to 30 years. Unbelievable! I will always be fond of the friends and memories this industry and our association has provided and most importantly, I will never forget the impact we have had on our community during the holiday season.
Looking ahead, I am elated for what the coming year will bring. We will proudly install Justin Seger with HILLS Properties as the next President of the GCNKAA this January. I am confident he will lead with passion, integrity, and a strong commitment to our collective success. Justin is among the most stoic and professional leaders I have had the privilege of working with in our industry and there is no doubt he will take our association to the next level. Collectively, our industry work continues - in legislation, promoting inclusion and diversity, tackling the challenges of affordability, supply and demand, and navigating the ever-changing economic landscape - always with the goal of strengthening and improving the multifamily industry for the residents and communities we serve. In the coming year and beyond, our association and industry will continue to evolve as we ensure that value to members is maximized and impact remains profound. We will, of course, need your support, your voice, and your continued dedication to our drive for excellence in all we do.
It has been an incredible honor to serve as your President. Thank you for trusting me, supporting me, and walking alongside me in this important work. I look forward to continuing to serve our association and industry in the years ahead.
Warmest wishes for a joyful and meaningful holiday season.
Holidays Happy
Low, Predictable cost &
The Apartment Association Outreach, Inc.
LETTER FROM THE PRESIDENT
By Justin Seger, HILLS Properties, Outreach President
As we close out another remarkable year, I want to extend my heartfelt thanks to the Apartment Association Outreach (AAO) Board, our committee chairs, our volunteers, our social service partners, and our remarkable membership. Together, your generosity, commitment and belief in our mission have helped us make a huge impact in our community. We have been able to assist thousands of our neighbors in need this year. Here are just a few stories that describe how you have made an impact.
A 29-year-old single mother and her 13-year-old daughter moved
A 49-year-old man with a serious health condition was hospitalized and lost access to his vehicle for a short time, his main source of income. He missed 3 weeks of work and was unable to pay his rent. AAO funding helped him with his rent, and he returned to work.
This is just a sample of the stories, and I am so proud of what we have accomplished. This quarter with the government shutdown, our food pantries have seen a tremendous increase in the number of clients walking through their doors. We still have time to do more! Our Holiday Cheers event is on December 4 at the Savannah Center, and all the proceeds raised support AAO’s six programs. You will not want to miss this fun evening and the opportunity to buy great items and help us assist more neighbors in need.
Last, but not least, I would like to extend our deepest gratitude for
More than 6 million units and 25,000 properties across the U.S. use
NAA Click & Lease.
More than 6 million units and 25,000 properties across the U.S. use
NAA Click & Lease.
Justin Seger
Government & Housing Legalities
OHIO LEGISLATIVE
UPDATE
By Kevin Coughlin, Ohio Government Relations Consultant
The race to head off a citizen revolt over property taxes in Ohio continued this month with Ohio legislators passing a few bills aimed at providing relief to single family homeowners. One bill in particular may raise some alarms for the apartment industry.
The Ohio Senate has added a last minute provision to House Bill 186 before sending it to the Governor for signature. In short, the bill now pays for a reduction in owner-occupied property taxes by raising taxes on investment properties.
Current law authorizes two property tax credits, or “rollbacks,” that directly reduce a home’s property tax liability. The first credit, known as the 10% non-business property rollback, applies generally to one-, two-, or three-family dwellings and to nontimber, agricultural land. This rollback reduces the taxes due on certain property tax levies by 10%.
The second credit, known as the 2.5% owner-occupancy rollback, reduces by an additional 2.5% such tax on owner-occupied dwellings that serve as a taxpayer’s primary residence and up to one acre of land (“homestead”).
The bill eliminates the 10% nonbusiness property rollback for residential property, through a four-year phase-out. For most property, the rollback would decrease to 7.5% in tax year 2026, 5% in 2027, 2.5% in 2028, and 0% in 2029. The full 10% rollback would continue to apply to nontimber, agricultural land.
The bill would, correspondingly, increase the 2.5% owner-occupancy rollback over four years, to 5.70% in tax year 2026, 8.92% in 2027, 12.15% in 2028, and 15.38% in 2029. In combination, the
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effect of these provisions is to increase the total credit for owneroccupied property, from 12.5% to 15.38%, and to eliminate the rollback for residential property that is leased to renters or otherwise not used as the owner’s primary residence.
Obviously this means that renters in one-, two-, or three-family units are going to pay for the tax relief of homeowners. While HB 186 does not impact larger Class 2 properties, it gives an indication that the legislature is hyper-focused on proving relief for homeowners, and that relief will come at the expense of others. Apartment owners should become engaged with their local state legislators
Local Elections: Local elections for mayors, city and village council members, township trustees, municipal judges, and school board members were held November 4. It was not a good day for pro-growth leaders who support a market-based approach to housing. All of the Democrat party-endorsed candidates for Cincinnati City Council were elected, as were the party’s endorsed candidates for municipal judge. Democrats saw some gains in suburban and township elections as well. The combination of having President Donald Trump in the White House but not on the ballot was a winning formula for Democrats across the nation. Their base turned out to vote while the Republican base largely stayed home. Regardless of who is in office, the Greater Cincinnati Northern Kentucky Apartment Association (GCNKAA) will pursue its mission to advance pro-growth policies that foster safe, affordable housing in our communities.
KENTUCKY LEGISLATIVE UPDATE
By Marc Wilson,
Top Shelf Lobby LLC
As you know, Kentucky’s housing needs continue to grow, and the state has a real opening to modernize the policies that make it harder or more expensive to build new units. One of the biggest issues for the multifamily industry is that the state building code places heavier requirements on apartments and middle-housing than on single-family homes. Aligning those standards would help reduce unnecessary costs and allow more projects to move forward. A two-year pause on any new building or electrical code changes that increase construction costs, along with allowing qualified thirdparty inspectors and requiring agencies to consider how proposed regulations affect housing affordability, would create a more predictable and workable environment for apartment developers.
Local land-use rules are another major factor affecting the ability to build apartments. Many communities want more housing choices, yet zoning requirements often make that difficult. Reducing minimum lot sizes, setbacks, parking mandates, and single-stair requirements would open the door to a broader range of multifamily projects, including smaller, more attainable buildings that fit well within existing neighborhoods. For developers, timely plan reviews are essential. Requiring local governments to complete these reviews within a reasonable window would help keep projects on schedule and prevent costly delays.
There is also strong potential in infill and redevelopment, areas where many of you are already exploring opportunities. Policies that support adaptive reuse—like converting under-used commercial properties into apartments—and allowing religious organizations to build affordable housing on their own land can meaningfully increase supply without pushing development farther out. At the same time, securing a developer’s rights at the moment a permit is submitted and continuing to evaluate who has standing to challenge planning decisions would create more certainty for multifamily investment, which is critical when financing margins are tight.
Finally, Kentucky can make a real difference by strengthening the financial tools that support apartment construction. Updating the fees that fund the Affordable Housing Trust Fund, improving the rehabilitation tax credit so it better supports projects that add new units, and giving local governments more flexibility to offer incentives or use special assessments would all help unlock more development. The state should also consider direct support—such as a residential infrastructure revolving loan fund or a state match for the low-income housing tax credit—to help close financing gaps that often stall multifamily projects, especially in high-need areas.
To see the full report on the final recommendations of the 2025 Kentucky Housing Task Force (Nov. 24, 2025), click here.
Our House
This heading contains membership, staff, committee information and events.
NAA MAINTENANCE LEGENDS RETURNS: ENTER YOUR TECHS TODAY FOR DECEMBER CONTEST PRIZES
The National Apartment Association (NAA) Maintenance Legends returns for the 2025-2026 season. This program shines a spotlight on the maintenance heroics we’ve all seen and heard about. It gives the rental housing industry the chance to celebrate the Maintenance Professionals going above and beyond every month.
WIN BIG EVERY MONTH
Three monthly winners will receive prizes up to $5,000 retail value. Submit your maintenance story for a chance to win.
PAID TRIP TO NAA APARTMENTALIZE 2026
Monthly winners will get airfare, lodging, and access to 2026’s Apartmentalize Conference in New Orleans in June.
FREE TRAINING CERTIFICATIONS
In June 2026, 25 additional winners will be selected for a free certification including the Certificate for Apartment Maintenance Technician (CAMT), Certified Pool Operator (CPO), EPA 608 Certification, and more.
A SHOT AT OUR GRAND PRIZE
Monthly winners will have a chance to win big during the
2026 Apartmentalize Conference. The overall grand prize is a new Ford truck.
HOW DO YOU BECOME A LEGEND?
Are you, or do you know, a maintenance tech or property manager that goes above and beyond for their tenants? Time to turn those stories into Legends! Each month, in addition to the story with the most fan votes, our panel of judges will pick two favorites, for a total of 3 winners. Candidates can submit their story from December 1 through December 20 at www.maintenancelegends.com.
HOW, WHEN AND WHERE CAN WE VOTE?
Voting will be open to the general membership beginning December 23 and will close December 30. It is one vote per person.
THANK YOU TO THE NATIONAL SPONSORS
Thank you to the National Apartment Association (NAA), HD Supply, AO Smith, GE, Kwikset, Rheem, Kidde, Procell, Seasons, and Carrier for their ongoing sponsorship of this program.
Learn more at www.maintenancelegends.com.
How To Become a Maintenance Legend
Hard work, dedication and 3 easy steps can make you a Maintenance Legend!
Provide Your Info
Fill out our form with your name, address, affiliate association & more.
Tell Your Story
Tell us all about you or your Legend's actions and why they deserve to win.
Submit Your Photo(s) Every maintenance pro deserves to be recognized.
December 2025 Prizes
Transform Your Space with GE Appliances
Bring innovation home this holiday season. The December prize package gives you the freedom to refresh your space with the latest in performance, design, and technology.The three monthly winners will each receive:
$3,500 towards the GE appliances of their choice
Free delivery and installation support
Enter at www.maintenancelegends.com
Three monthly winners will receive prizes up to $5,000 retail value. Submit your maintenance story for a chance to win.
PRIMARY
Friedman Real Estate
Daniel Highsmith
34505 West 12 Mile Rd. Ste 225 Farmington Hills, MI 48331 (248) 848-9038
daniel.highsmith@freg.com
OCTOBER 2025 NEW MEMBERS
ASSOCIATE
Heritage Bank
David Gronotte 1818 Old Florence Pike Burlington, KY 41005 (859) 240-1463
d.gronotte@ourheritage.bank Banking and Financial Services
Procter & Gamble
Tyler Odom
1 Procter and Gamble Plaza Cincinnati, OH 45202 (724) 841-8633
odom.t@pg.com
Appliance Parts & Supplies / Cleaning & Janitorial Supplies
DO YOU KNOW US?
The following companies have dropped their membership in the GCNKAA and we would love to have them back!
If you do business with any of the companies listed please reach out to them and remind them of the value of membership.
PEDCOR Management
PK Management
William Zalla Construction
Autopilot Building Services
Cooknee Eurostyle Kitchens
Oberson’s Nursery & Landscaping
??? ?
Riverfront Roofing and Exteriors
Chris Long 2849 US 22 Wilmington, OH 45177 (513) 549-0444
John Casmon 2100 Mosteller Road Suite 100 Sharonville, OH 45241 (513) 999-5513
jcasmon@unitedwrg.com Fire and Water Damage Restoration
Cincinnati, OH-KY-IN
For additional details and definitions, visit our methodology page: . https://alndata.com/methodology
Cincinnati, OH-KY-IN
ALN Apartment Data tracks more than12K management companies with over 200K properties, comprised of over 26.2 million total units. We offer our clients feature-rich, user-friendly platforms to perform research with confidence, and our comprehensive services are available nationwide. Copyrights: All data, information and material provided through ALN Platforms or Reports are copyrighted. All resales, redistribution, or other forms
**Velocity is the average number of months to reach an 85% occupancy. Average is over the past 24 months. of dissemination is strictly forbidden. For ALN editorial inserts, sourcing, questions, or additional information about our services, please contact Sales@alndata.com or call 800-643-6416 x 3.
Cincinnati, OH-KY-IN
Stabilized Only Properties
Cincinnati, OH-KY-IN
Market Breakdown
Top 5 Submarkets
New Units
ALN Apartment Data tracks 12K management companies with over 200K properties, comprised of over 26.2 million total units. We offer our clients feature-rich, user-friendly platforms to perform research with confidence, and our comprehensive services are available nationwide. Copyrights: All data, information and material provided through ALN Platforms or Reports are copyrighted. All resales, redistribution, or other forms of dissemination is strictly forbidden. For ALN editorial inserts, sourcing, questions, or additional information about our services, please contact Sales@alndata.com or call 800-643-6416 x 3.
www.alndata.com
· Countertop, Cabinet and Bathtub resurfacing
· Cabinet Door Replacement with Resurfacing of frames and boxes
· Increase Rent/Occupancy
· NEW look - Fresh Colors
NEW YEAR...NEW YOU! GET INVOLVED WITH THE GCNKAA AND JOIN A COMMITTEE
On Wednesday, December 10, the GCNKAA staff, Board of Directors, Associate Council, and committee chairs will meet for the 5th Annual Committee Strategic Planning Summit. This session allows committee chairs to discuss challenges they faced in 2025, establish their goals for 2026, and create Key Performance Indicators (KPIs) to monitor their progress in achieving these goals.
A main discussion point to be discussed by all committees is the need to get more - and new - individuals to step up and volunteer on one of the many committees. Fresh faces often bring fresh energy and fresh ideas. Please review the list of committees below and reach out to the GCNKAA if you find a committee on which you would like to serve.
BUS TOUR TASK FORCE
Open to: Primary and Associate Members.
Initiative: Promote communities, gauge interest, launch, and develop the structure for the GCNKAA Bus Tour
Staff Liaison: Michele Klusman
DE&I COMMITTEE (DIVERSITY, EQUITY & INCLUSION)
Open to: All under-represented individuals within our industry including those supporting the DE&I mission statement.
Initiative: Coordinates activities related to increasing the overall diversity of GCNKAA’s membership, and to ensure GCNKAA is an inclusive organization with programming to meet the needs of our diverse stakeholder community.
Staff Liaison: Regan Tassell
EDUCATION COMMITTEE
Open to: Primary and Associate Members.
Initiative: Sets the direction of the association education calendar including NAA designations, ad hoc education, and working with the trade show committee.
Staff Liaison: Regan Tassell
FALL GOLF OUTING COMMITTEE
Open to: Associate and Primary Members.
Initiative: Involves setting and securing sponsors, creating promotional pieces, overall general input regarding the golf outing. Proceeds to fund Industry Defense Fund.
Staff Liaison: Michele Klusman
HOLIDAY CHEERS BENEFIT COMMITTEE
Open to: Associate and Primary Members.
Initiative: Involves securing sponsorships and item donations, event coordination, creating promotional opportunities and overall set up. Net proceeds directly benefit the Apartment Association Outreach program.
Staff Liaison: Michele Klusman
LEGISLATIVE COMMITTEE – OH AND KY
Open to: Primary and Associate Members. Initiative: Work with the state associations and the local city council to keep abreast of issues related to our industry.
Staff Liaison: Rebecca McLean
IRO (INDEPENDENT RENTAL OWNERS)
Open to: Independent Rental Owners (An individual or individuals that are active in both the ownership and management of their properties)
Initiative: Plans the IRO meetings and topics to be discussed.
Staff Liaison: Regan Tassell
MEMBERSHIP COMMITTEE
Open to: Associate and Primary Members.
Initiative: Responsible for membership retention & recruitment, membership drive, mentor to new members.
Staff Liaisons: Nicole Metz & Rick Holste
NEXTGEN COMMITTEE
Open to: Primary and Associate Members.
Initiative: Planning of topics to be discussed with District, Regional, and Property Managers for future leaders in the multi-family housing industry.
Staff Liaison: Regan Tassell
SUMMER GOLF OUTING COMMITTEE
Open to: Primary and Associate Members.
Initiative: Involves securing sponsors, creating promotional pieces, overall general input regarding the golf outing.
Staff Liaison: Michele Klusman
REGISTRATIONS FOR NAA ADVOCATE CONFERENCE OPEN
Advocate – NAA’s annual advocacy conference – is the prime opportunity to meet with your representatives by joining rental housing suppliers, property managers, owners and operators in Washington, D.C.
Advocate 2026 will be March 24-25, 2026, with NAA Governance meetings continuing March 26-27, 2026. Registration is now open by clicking here.
REGISTRATION
INFORMATION
Rate: $359 + tax per night 14.95%
Cut-Off Date: March 3, 2026*
Pre-registration for Advocate is complimentary for all attendees who register on or before March 17, 2026. After this date, registration must be done on-site and will be subject to a $50 charge.
Please Note: Congressional offices may restrict the number of people allowed to participate in meetings on Capitol Hill during Lobby Day. Registering for Advocate does not guarantee that you will be able to participate in a meeting. Please make sure you are working with your local affiliate if you are planning to attend a meeting.
HOTEL INFORMATION
Grand Hyatt Washington 1000 H St NW Washington, DC 20001
*After this date rooms will be accepted on a space- and rateavailable basis only. The cut-off date only guarantees rate – it does not guarantee
BOOK YOUR STAY
Click here to reserve your room or call 202-582-1234. The NAA Advocate group block code is G-NA26.
Rooms in the NAA room block are intended for registered attendees of 2026 Advocate. You must be registered prior to making your hotel reservation. Only one (1) hotel reservation will be allowed per registered attendee. NAA has the authority to cancel any duplicate hotel reservations or those that are not registered for the conference with or without prior notification.
TRADE SHOW BOOTH SALES NOW ON SALE
Mark your calendars for the Greater Cincinnati Northern Kentucky Apartment Association (GCNKAA) 2026 Trade Show, happening Wednesday, March 18 at the Sharonville Convention Center. Booth sales are officially open—secure your spot now before prices increase!
• $800 per booth through October 1, 2025
• $850 per booth from October 1 – February 17, 2026
• $950 per booth after February 18, 2026
WHY EXHIBIT AT THE GCNKAA TRADE SHOW?
More than 500 multifamily industry professionals attend our show each year—giving you the chance to connect directly with property managers, leasing agents, maintenance teams, and decision-makers. Here’s what’s new and exciting for 2026:
Updated Floorplan with Carpet
Our refreshed layout is designed to improve traffic flow and allow for more booths. Each 8’ x 10’ booth includes pipe and drape, one table, two chairs, booth signage, and complimentary Wi-Fi. Center aisle is reserved for our VIP Sponsors. Electric, additional furniture, and upgrades can be ordered separately through Sharonville Convention Center or Academy Rentals.
Expanded Education Rooms
We’re offering more seminars for property managers, leasing agents, and maintenance technicians—bringing even larger audiences to the show floor once sessions conclude. Expanded Leadership Forums will also bring key decision-makers out to the event. That means more opportunities for you to connect with attendees face-toface.
More Sponsorship Opportunities
need to be placed directly through Sharonville Convention Center or Academy Rentals and NOT through GCNKAA. See Exhibitor Kit for more detailed information.
New sponsorship levels ensure you’ll get maximum exposure, whether your company is large or small. Opportunities range from $300 logo or food sponsorships to $1,000 VIP Sponsorships, with benefits including premier booth placement, signage, verbal recognition, and promotion on gcnkaa.org and in Apartment Advantage.
RESERVE YOUR BOOTH TODAY
Booths are sold on a first-come, first-served basis, so don’t wait! Visit www.gcnkaa.org to download the floorplan and booth contract. You can reserve your booth online, or complete the contract with your top three booth choices and return it to michele@ gcnkaa.org.
Questions? We’re here to help! Call us at 513-407-8612 for assistance.
BOOTH SALES INFORMATION
• Booth price includes table, 2 chairs, pipe and drapes, booth marker. Facility is carpeted. Electric, additional tables and chairs can be ordered separately through Sharonville Convention Center and Academy Rentals for an additional cost. All orders for carpet, electric, additional tables and chairs
• Booths are sold on a first come first serve basis.
• Each booth is 8’ deep x 10’wide.
• Booths are $800 each through October 1; $850 from October 2 through February 18; $950 after February 18. Select booths are reserved for VIP Sponsors.
BOOTH RESERVATIONS AND PAYMENTS
• After you have selected your booth with the Apartment Association, you must either forward GCNKAA a signed contract or remit full payment to reserve that booth.
• We will hold all booths for 14 days without signed contract or payment.
• You may pay for your booth with check or credit card or call the office for an invoice.
• We cannot hold a booth longer than 14 days without contract or payment. After those 14 days, if we do not receive a contract or full payment, GCNKAA will contact you for payment or contract. If no response, GCNKAA may release the booth you selected.
• Full payment of all booths must be received by February 18, 2026.
2026 GCNKAA Trade Show
Sharonville Convention Center
Booth Information Size: 8’ x 10’
Cost Per Booth
$800 Before October 1;
$850 Before Februar y 18
$950 Af ter Februar y 18
VIP Sponsor Only
Booth Includes Pipe and Drape
1 - 6’ Table and Skir t
2 - Chairs
1 - Booth Marker
Wifi Access
You May Order Additional Items Directly Through Our Contacts at Your Cost
Carpet - $125*
Electric - $79*
Additional 6’ Table - $50*
Additional Chair - $6*
See inside for ordering information. *Deadlines to order do apply. Prices af ter deadline will increase as noted on individual order forms. Prices subject to change
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Trend Setting
VALUE-ADD STILL ADDS UP
By Scott Sowers
Flipping any kind of real estate is a lot easier when the cost of capital is low, a condition that began deteriorating in early 2022 when the Federal Reserve began a long upward hike of the federal funds rate. Data from the National Multifamily Housing Council published in July shows continuing tight market conditions, with a slight uptick in sales volume. Equity financing is down while debt financing is up.
Geography is also playing a role. “Rent growth remains low in the South and West amidst a historic overhang of new supply, even though strong demand has kept absorptions high and occupancy stable,” said NMHC’s Chief Economist and Senior Director of Research, Chris Bruen.
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been challenging to fully factor into CapEx budgets.”
The age of the value-add targets is also playing a bigger role. “We’re now placing greater emphasis on older vintage properties, which often offer more upside potential,” said Pilato, “Additionally, we’re incorporating increased contingency planning into our underwriting to account for rising construction costs, potential tariffs and overall market volatility.”
Marquette Companies has two offices in Illinois and a third in Houston. Their portfolio includes a heavy concentration in the Midwest, where there is fertile ground for value-add deals.
“Tighter apartment conditions persist in the more supply-constrained Northeast and Midwest,” he added. “While high levels of political and economic uncertainty have kept some equity capital on the sidelines, survey respondents did report an uptick in transaction volume for the second consecutive quarter.”
THE CURRENT SITUATION
Supply levels, the cost of capital and finance options are all playing a role in the current situation of value-add transactions in the multifamily housing industry. The market is responding and keeping hope alive.
“We’re seeing modest market adjustments that are helping keep these deals in play,” said Chris Pilato, Chief Development and Construction Officer for CAPREIT, an owner-operator based in Maryland. “This includes lower pricing on classic value-add communities, as well as increased participation from alternative debt providers stepping in to fill financing gaps. These shifts are contributing to renewed activity and creating more opportunities in the sector.”
Many value-add renovations in the past focused on countertop and flooring upgrades to enable rent growth. The new thinking leans into plumbing, HVAC and electrical fixes. “As a result of the softening we are seeing in market rents due to supply influxes, we have had to reinvent how we look at value-add,” said Brennen Degner, CEO of Platte Canyon Capital. “Our strategy today revolves around what we think these older buildings need.”
Platte Canyon is based in Colorado and specializes in valueadd deals. Evaluating vintage properties these days is focused more on acquiring the property at the right price point to maximize net operating income.
“Today, we see an opportunity to buy deals right without needing that incremental upside to make them work,” said Degner. “We are focused on creating value through buying at a basis that supports the additional costs for the infrastructure items that have
“Current market conditions have had us looking even more closely at value-add, especially in the Midwest where fundamentals like high-demand, low supply of new construction, job growth and affordability are making these kinds of opportunities in this region particularly attractive,” said Trevor Ryan, President of Marquette.
“We recently sold The Haven at Ann Arbor in Ann Arbor, Mich., after undertaking a $13 million renovation and leaving the property at 95% occupied at the time of sale,” he said. “The deal exceeded all target return metrics for our investors.”
SOURCES OF CAPITAL
To bring in new money, developers and owners are employing alternative methods to make value-add projects pencil out and attract funding. “Value-add multifamily real estate remains a very sought-after asset class across the board,” said Ryan. “Our Marquette SE Fund 25, which we just launched and is focused on value-add, has been met with strong investor interest and early participation. While we have a solid reputation and track record in value-add, this level of interest highlights the enduring appeal.”
Fairfield, a developer, owner and operator that is majorityowned by the California State Teachers’ Retirement System, made headlines in February by closing a $1.47 billion fund focused on acquiring value-add properties in 30 markets. About $350 million of the funding came in as co-investment equity.
“There remains a liquid market for construction financing with alternative lenders including debt funds continuing to grab market share away from typical banks with more flexible terms, a higher appetite for risk and significant institutional capital flows into the private credit sector,” said Jason Schwartz, Managing Principal and co-head of Equity for Blue Vista, a real estate investment firm based in Chicago.
There are other alternatives in addition to creating or tapping a debt-based instrument. “In the middle-market multifamily space, we’re seeing an increased reliance on cash acquisitions and
a resurgence of seller financing,” said Paul Waterloo, a Managing Partner with Interra Realty, a brokerage firm based in Chicago. “Local and regional banks continue to offer financing, typically favoring experienced local sponsors with a track record of successful value-add projects.”
MAGIC NUMBERS
The Federal Reserve continues to move cautiously in making any adjustments to the federal funds rate. While billions in capital wait on the sidelines, forecasters imagine numbers that could change the game or at least keep properties in play.
“With interest rates remaining elevated compared to three to four years ago, it’s more important than ever to make sure your cost of debt for a given deal aligns with its initial yield-on-cost and projected NOI growth through the hold period,” said Ryan. “While the spread between going-in capitalization rates and interest rates is as narrow as it’s ever been, debt is still meaningfully cheaper than equity, so the use of leverage is still a strategy we recommend.”
As of the last meeting, the Fed rate was cut by 250 basis points, which puts the prime rate around 7.25%. Owners, investors and commercial real estate brokers are keeping a keen eye on the numbers and forecasting what would significantly move the value-add needle.
“An interest rate around 5% would increase demand for valueadd properties,” said Waterloo “Many current sales are projected to stabilize at cap rates exceeding 7%, offering a healthy 200 basis point spread – though increased competition could eventually narrow this gap through increased pricing.”
Value-add possibilities are also showing up in situations where the property’s original owner may be looking for an easy cash out of the property. “Many of these properties are still owned by legacy operators or families who have made minimal reinvestment over the years,” said Pilato. “That creates a real opportunity to unlock value through targeted renovations and operational improvements.”
The changing supply level of new inventory is also factoring into the buying, fixing and selling of assets. “With new multifamily construction slowing down significantly, the supply-demand fundamentals are becoming more favorable,” said Pilato. “Welllocated, upgraded vintage assets are positioned to benefit from that
imbalance.”
Figuring out the right terms to float a value-add deal requires special consideration for the complexities during and after the renovation, which can include variable rate loans.
“Real estate investors should consider the anticipated hold periods for individual assets and execute a mix of fixed rate financing and floating rate financing with interest rate swaps and caps,” said Schwartz. “Investors that continue to look at acquisitions with fixed rate financing should go ahead and lock their interest rate whenever it works for a given deal. In the case of floating rate financing, swaps and caps protect against a surprise rise in interest rates, and they can be tailored to the investor’s hold period, investment budget and risk tolerance.”
REAL ESTATE CLOSING THOUGHTS
The concept of value-add can be stretched to other branches of the multifamily housing tree. “We are actively involved in both buying and selling residential properties, primarily conventional multifamily, build-to-rent and student housing,” said Schwartz.
“We currently have five new projects under development across the country with deliveries expected within the next 1224 months,” he added. “We also continue to pursue residential value-add acquisitions, where properties can be purchased below replacement cost.”
Even though high costs of capital and sluggish rent growth have dinged the allure of value-add, there are still deals getting done. “The market is adjusting, not stalling,” said Waterloo. “There is still robust buyer interest compared to the limited supply of well-located multifamily properties ideal for value-add strategies in Chicagoland.”
“Value-add is always going to have a place in the multifamily market,” said Degner. “As supply recalibrates closer to an equilibrium you will see re-filtering of [residents] back through the traditional A, B, C asset quality segments. At this moment in time, traditional value-add of going in and making a unit slightly nicer to get a pop in rent is difficult, but there is also value to be added in simply buying right and improving the health of a property’s balance sheet, which we are seeing plenty of opportunity with currently.”
Scott Sowers is a freelance writer.
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