July 2025 Residence Magazine by San Antonio Apartment Association

www.saaaonline.org

IN THIS ISSUE

ExecutiveDirector

KyleWard|executivedirector@saaaonlineorg Finance&Accounting

RosaPeraltaDeLeon|accountingadmin@saaaonlineorg GovernmentRelations

AllisonCohen|allison@saaaonline.org Communications&Marketing BeverlyCamp|beverly@saaaonlineorg Programs,Events&Education

KennethaBanks|kbanks@saaaonline.org Membership/PACFundraising

ClementeSanchez|csanchez@saaaonlineorg ExecutiveAdministrativeAssistant/OfficeManager ElizabethGarza|egarza@saaaonlineorg OfficeSupportServicesSpecialist PromiseDelaPaz|promise@saaaonlineorg

San Antonio Apartment Association 7525 Babcock Road, San Antonio, TX 78249 OFFICE 210 692 7797 or 877 306 4108 Fax 210 692 7277 or 877.316.1984 www saaaonline org

Leadership attends NAA Apartmentalize in Las Vegas, NV on June 11 - June 13, 2025.

SAAA leadership attended the 2025 Mayor & Council Welcome Reception hosted by the San Antonio Hispanic Chamber of Commerce at the Pearl Brewery Stable Hall.

Mission: The San Antonio Apartment Association educates, communicates and advocates for professionals in the rental housing industry.

The“Residence”MagazineispublishedmonthlybytheSanAntonioApartmentAssociation Inc Circulatedfree TheSanAntonioApartmentAssociation Inc expressly reservestheright initssolediscretion torejectadvertisingwhichmaysubjecttheSanAntonioApartmentAssociation Inc toliabilityunderstatutoryorcommonlaw ContributedmaterialdoesnotnecessarilyreflecttheviewsandopinionsoftheSanAntonioApartmentAssociation

Allrightsreserved Materialsmaynotbereproducedortranslatedwithoutpermission Entirecontentsarethe©Copyright2022oftheSanAntonioApartment Association,Inc ADAComplianceStatement: TheSanAntonioApartmentAssociation,Inc ( SAAA”),iscommittedtoupholdingthestandardsof,andstrictlycomplyingwith,the AmericanswithDisabilitiesAct(the“ADA”) ItisthepolicyofSAAAtoallowServiceDogsandServiceMiniatureHorsestoaccompanythepersonforwhomtheanimalis providingaserviceintheareasofpublicaccommodationattheofficeofSAAAandatSAAAevents programsandclasses

SAAA

DIRECTORS AT LARGE

Director: Alexis Gomez, Trace Property Management

Director: Emery Johnson, The Phoenix Staffing

Director: Arleen Garza, REEP Management

Director: Renee Masten, HomeSpring Residential

Director: Lyssette Perez, Apartments com

Director: Quincy Jones, Belfor Property Restoration

Director: Rocio Marquez, NRP Management, LLC

Director: Leo L’Homme, Fresh Meadows REI Mgmt.

Director: Nobie Ann Saenz, Hello Landing

Director: Tabatha Blunt, Greystar Real Estate

Partners, LP

Director: Jessica Kelly, Embrey Management Services

LEGAL COUNSEL

David Fritsche 210.227.2726 | david@lawordf.com

PRODUCT SERVICE COUNCIL

President: Steffany Esnaola, Apogee Interior Solutions

President-Elect: Emery Johnson, The Phoenix Staffing

Vice President: Lyssette Perez, Apartments com

Secretary: Quincy Jones, Belfor Property Restoration

PastPresident: Jennifer Bain, The Home Depot

PastPresident: Omar Rodriguez, TX KTCHN Construction LLC

Member-at-Large: Tomas Lopez, Heritage Landscapes

Member-at-Large: Ana Hollingsworth, HD Supply

Member-at-Large: Jennifer Kimball, InterSolutions Staffing

Member-at-Large: Michelle Rodriguez, Cotton Holdings, Inc

Member-at-Large: Nobie Ann Saenz, Hello Landing

Member-at-Large: Natalie Bennett, Apartment Solutions

Member-at-Large: Linda Palacios, Trinity Towing

LIFETIME BOARD MEMBERS

Barbara MacManus, CAM, CAPS, CPM

Bob Ross, Bob Ross Realty

Marc Ross, Bob Ross Realty

President - Renee Zahn, CAM, NALP, CPM, ARM

President-Elect - Mike Rust, CAMT, CAPS

Treasurer - Matt Jones

Secretary - Cayce Coon, CAM, CAPS

TAAEF President - Richard Whatcott

Delegates - Sunny Davila, Alan Ross, Kara Morkovsky, Steffany Esnaola, Renetta Quintana, Tabatha Blunt, Cory Palmer

Alternates - Rocio Marquez, Emery Johnson, Maddie

Patrick, Victoria Keeler, Leo L’Homme, Jennifer Bain

Chair - Alan King, CPM

Chair-Elect - Chris Burns, CAM, CAPS

Vice-Chair - Jeannette Cox

Treasurer - Brian Chase

Secretary - Mark Hurley

Delegates - Sunny Davila, Alan Ross, Renetta Quintana, Maddie Patrick

Alternates - Ryan Baldwin, Kara Morkovsky, Mike Rust

PAST

Ryan Baldwin Franklin Property Management

PAST

Renetta Quintana Capstone Real Estate Services

VICE

Jennifer Bain Home Depot

PSC

Steffany Esnaola Apogee Interior Solutions

POLITICAL ACTION COMMITTEE

members

PLATINUM

Alan Ross Bob Ross Realty

Allyson McKay Embrey Management Services

Debbie Wiatrek Summit PM

Emery Johnson Valet Living

Kara Morkovsky Portico Property Management

Leo L’Homme Fresh Meadows REI

Marc Ross Bob Ross Realty

Mike Rust Highland Commercial Property

Natalie Bennett Apartment Solutions Inc.

Renee Masten Homespring Residential

Renetta Quintana Capstone Management

Ryan Baldwin Franklin Apt. Mngt.

Scott Milgrom Image 360

Steffany Esnaola Apogee Interiors

Steve Colella MDP Management

Steve Ross Bob Ross Realty

Sunny Davila Capstone Management

Timothy Lippard Splash Branding

Victoria Keeler Churchill Forge Properties

SILVER members

Alexie Loriente

Corrina Gutierrez

Emily Wiatrek

Jennifer Kimball

Jennifer Morales

Leslie Herrera

Rocio Marquez

Tabatha Blunt

GOLD members

AlexisGomez TraceProperties

ClaraSeelhammer 2-SDConstruction

GaryGreene FSIConstruction

JenniferBain HomeDepot

JessicaKelly Embrey

LoriSomerville ChadwellSupply

LyssettePerez Apartmentscom

MaddiePatrick Avenue5Residential

NinaSegundo PorticoPropertyManagement

OmarRodriguez TXKTCHNConstructionLLC

TravisKamp D-KamConstruction

AN ARTICLE BY KARA MORKOVSKY, POLITICAL ACTION COMMITTEE CHAIR, SAAA 2025 EXECUTIVE COMMITTEE TREASURER

Every donation to SAAA PAC helps us connect with elected officials and candidates to educate them and spread industry knowledge and perspective to hopefully lead to better policy outcomes for us all.

By pooling the contributions from individuals and companies who are members of SAAA, our members may participate in the political process.

Any funds collected are disbursed at the direction of SAAA’s Government Affairs Committee directly to the campaign of a candidate or incumbent member of local and state elected offices like City Council, Bexar County Commissioners, and Texas House and Senate Representatives.

Why Should You Care?

PAC Contributions Give Our Industry and Organization:

A Seat at the Table. Would you rather be at the table, or on the menu? SAAA PAC is your vehicle to support elected officials and candidates who are open to the rental housing industry's views on issues crucial to your business and the industry at large.

Credibility SAAA PAC gives our profession political credibility It shows that we are willing to support lawmakers who help enact policies that will allow us to keep creating quality rental housing opportunities across the state.

Success. Growing our influence within the San Antonio metro area and Texas does not happen easily It is an ongoing and long-term process that only succeeds as more and more SAAA members participate Your involvement makes SAAA PAC grow in strength

AN ARTICLE BY KARA MORKOVSKY, POLITICAL ACTION COMMITTEE CHAIR, SAAA 2025 EXECUTIVE COMMITTEE TREASURER

Recent “wins” for the San Antonio Apartment Association in advocacy: In 2024, the Government Affairs Committee had over 80 meetings with local, state, and federal elected officials, key department staff members, and government entities to communicate important proposals and build relationships. In 2024, members of the SAAA Government Affairs Committee were chosen to be involved in the recent San Antonio Unified Development Code review and shaped the code amendments to prevent further regulation and pressure on the rental housing industry. This influence at the City level is advantageous to our growth and position as a key stakeholder for the City of San Antonio. In 2024 and recently this year, SAAA Government Affairs Team participated in the process for a San Antonio Council Consideration Request (CCR) that concerns SAWS water shutoffs at multifamily communities. SAAA was alerted about the CCR and met with multiple City Council members, the Development Services Department, and SAWS leadership to influence the path the CCR took through City Council Committees before it goes to the whole City Council for review. When the recommendations for the CCR passes the full City Council, it will be an even bigger win for the association

Recently this spring, a member of the Government Affairs Committee applied and was selected to be a part of the Housing Commission’s Removing Barriers to Affordable Housing Subcommittee. This commitment lasts two years and gives the rental housing industry a seat at the table to impact policy being directed by the subcommittee to the Housing Commission

On Wednesday, June 11th, Snowden Living held their grand opening located in the heart of the Medical Center! SAAA Leadership was in attendance along with Opportunity Home and Senator Jose Menendez. This beautiful senior living community offers modern independent living and an array of amenities including a Computer Center, Fitness Center, Media/Theatre Room, and a Pool. Enjoy outdoor spaces like the Community Garden, Dog Park, and Walking Trail. This community also provides Electric Vehicle Charging Stations for your convivence.

If you're in the area, be sure to check them out today!

2025 CLASS SCHEDULE 2025 CLASS SCHEDULE

SAAA understands the importance of continuing education and we are pleased to announce our new 2025 class schedule! We have a variety of classes available to meet the needs of all learners, including courses in leadership, management, maintenance & electrical, and more. With flexible scheduling and experienced instructors, we are confident that everyone can find the perfect class to fit their needs. If you have any questions, please don't hesitate to contact us - we are happy to help!

CLASS TITLE

Budgeting Basics

Budgeting for the Advanced How to Market Your Property Onsite

TAA Lease with the Best: An In-Depth Review of the TAA Lease Forms

OF CEC’S TO EARN

Maintenance: Understanding Budgets

Fair Housing for Maintenance

CRASE Safety Summit: Keeping Your Community Safe with SAPD, SAFD & the American Red Cross Excel for the Intermediate & Advanced CPS Multi-Family Savings Programs Seminar

All classes, dates and times are subject to change.

All non-certified courses are available to members at no additional cost.

Designated Courses are NOT included in the complimentary course offerings. A $25.00 fee will be assessed for each registrant who does not attend or cancel their registration within 3 days prior to the course. Go to www SAAAonline org for class details and updates

2025 CLASS SCHEDULE 2025 CLASS SCHEDULE

Take Me To Your Leader: Professional Etiquette

Understanding Fraud for IROs

Navigating Texas’ New Eviction Laws: SB 38 Forty Avoidable Legal Traps with David Fritsche Maintenance for Beginners Marketing through Social Media Assistant Manager 301

ALLCOURSESREQUIRE PRE-REGISTRATION

ABSOLUTELY NO EXCEPTIONS

BUDGETING BUDGETING BASICS

WITH ALAN ROSS WITH ALAN ROSS

Director of Operations Director of Operations

Bob Ross Realty

TUESDAY, JULY 8TH TUESDAY, JULY 8TH

9:00 AM - 12:00 PM 9:00 AM - 12:00 PM

SAAA Main Office (7525 Babcock Rd)

Learn what to put in your budget

How to operate within your budget

How to understand performance

How to understand performance compared to your budget compared to your budget

Marc Ross is the 25th Inductee into the NAA Hall of Fame into the NAA Hall of Fame

Marc Ross is the 25th Inductee

-MARC ROSS- -MARC ROSS-

BOB ROSS REALTY

Originally Published Date: May 13, 2025

The National Apartment Association (NAA) has announced the upcoming induction of Marc Ross, President of Bob Ross Realty and 2016 NAA Chair of the Board, into the NAA Hall of Fame Ross will accept the recognition – the highest association honor that can be bestowed upon a rental housing professional - during Apartmentalize, NAA’s annual conference and exposition, June 11-13 in Las Vegas

"I am deeply honored, incredibly grateful and truly humbled to be inducted into the National Apartment Association’s (NAA) Hall of Fame," said Ross "This recognition is not just a personal milestone it reflects the collective efforts, resilience and dedication of everyone who has worked alongside me throughout this journey During my years of service, I’ve had the privilege of contributing to initiatives through NAA and its affiliates that at one time were groundbreaking and innovative and that are now standard practices "

MARC ROSS NAMED AS 25 INDUCTEE TH

TO NAA HALL OF FAME

As NAA Chair of the Board in 2016, Marc led a powerful transition across the organization that championed innovation and focused on the growing value of advocacy His tenure is marked by the pioneering of digital and computerized rental lease contracts and a significant uptick in national membership, alongside an increased focus on the importance of NAA’s Political Action Committee (NAAPAC) Marc’s national impact extends well past his time as Chair. During the COVID-19 pandemic, his leadership helped create a nationally-recognized rental assistance program in his hometown of San Antonio – making a powerful and lasting impact on people’s lives throughout his community

“Marc’s career in rental housing has made a significant impact, led by dedication and exemplary service,” said NAA President and CEO Bob Pinnegar “His leadership has been revolutionary, advancing our organization in an industry that is constantly evolving NAA congratulates Marc on this well-deserved recognition honoring his work and legacy across rental housing ”

MARC ROSS ON STAGE AS HE WAS INDUCTED INTO THE NAA HALL OF FAME LAST MONTH . SAAA MEMBERS SUPPORTING MARC AT NAA APARTMENTALIZE IN LAS VEGAS.

Marc’s career is underscored by an unwavering commitment to service and community, leaving a positive and lasting impact For almost 40 years, he has served on apartment association boards or executive committees at the local, state and national levels At home, Marc served two terms as the President of the San Antonio Apartment Association (SAAA) in 1995 and 1996 and one term as the Texas Apartment Association President in 2003 Marc was recently awarded the status of SAAA Honorary Lifetime Board Member – an honor only bestowed two other times in the association’s 60-year history

SUPPLYAND SUPPLYAND SUPPLYAND

JORDANBROOKS

NewSupplyTrends

ByJordanBrooks,SeniorMarketAnalyst ALNApartmentData

SanAntoniomultifamilyhassufferedfromunfortunatetimingoverthelastfewyears Inconsistent, andoftentepid,apartmentdemandhascoincidedwithnewsupplyvolumenotseenindecades Plummetingaverageoccupancy,subparrentgrowth,andwidespreadleaseconcessionsfollowed

However, both sides of that equation have begun to change positively. New supply, though still significant,isdeclining Apartmentdemandhasbeensteadilyimprovingforthebetterpartoftwo years,butthatimprovementhasgainedconsiderablemomentuminrecentmonths.

Allnumberswillrefertoconventionalpropertiesofatleastfiftyunits.

Annual units added this year should range from around 5,500 units on the low end to 7,500 units on the high end.

OThe Greater San Antonio market averaged about 4,800 new unitsdeliveredannuallyinthefiveyearsfrom2018through2022. Deliveries for this development cycle peaked last year at just more than 12,500 new units. 2024 new supply marked the culminationofanincredibletwo-yearsurgeinleasestarts

The market saw just less than 3,000 new units introduced through May of 2025 Approximately 6,200 new units are expected in total for this year There is always some play in the estimatesduetofourthquartermovement

A few properties leasing in January instead of December can significantly shift the new supply estimate Annual units added thisyearshouldrangefromaround5,500unitsonthelowendto 7,500 units on the high end Anywhere within that range would represent a substantial decline from 2024 and would start to provide much needed relief from the supply pressure of recent years

Deliveriesshouldfallevenfurtherin2026.Theaverageconstruction duration,measuredasconstructionstarttoleasestart,isroughly eighteenmonthsforGreaterSanAntonio.Thatmeansthatasof thiswriting,newsupplyfornextyearisalreadymostlybakedinto theconstructiondata Asthepipelinecurrentlystands,around 4,000newunitsareexpectedtobeginleasingnextyear

Evenwithsomeroomformovement,itisverypossiblethattotal newsupplyin2025and2026combinedwillbeslightlybelowthe 2024total

ApartmentDemandTrends

SanAntonionarrowlyavoidedanannualnetlossofleased unitsin2023.Netabsorptionthatyeartotaledlessthan500 units Thatwasawelcomesightwithinthecontextofanet lossofmorethan4,000leasedunitsin2022which representedthenadirforrecentyears

Apartmentdemandthenbouncedbackagreatdeallast year Annualnetabsorptiontopped4,600units Thiswasthe bestresultsince2021butwasalsolowerthananyannualtotal from2018through2020

Comparedtothepreviousyear,2024wasastrongyearfor GreaterSanAntoniomultifamilydemand.Withlongerterm historicalcontext,2024leftsomethingtobedesired Fortunately,themomentumhascarriedinto2025andhas gainedsteam

Themarketabsorbedover2,700netunitsthroughMay2025 Thetotalwasthehighestforthisportionofthecalendarsince 2021but,unlikelastyear,apartmentdemandhasreturnedto itspre-pandemicrange

Thesurgeinabsorptionhasnotbeenuniform TheClassA subsetofthemarkethasaccountedformostofthegain Net absorptionthroughMayofmorethan2,000unitswasroughly triplethetotalfromthesameportionof2024.Encouragingly, ClassCalsoshowedstrongdemandgrowth Asagroupthese propertiesabsorbedabout900netunits–roughlydoublelast year’stotalfortheperiod

Thehealthygainforbothtierswashearteninggiventhatit reflectedpositiveconditionsinboththeluxuryandworkforce housingsegmentsratherthanjustoneortheother Alsoofnote,propertiesthatenteredtheyearalready stabilizedhavelargelymanagedtomaintainlastyear’s positivetrajectory Anetgainofalmost300leasedunits made2025thesecondconsecutiveyeartoseepositive stabilizeddemandthroughthefirstfivemonthsoftheyear

Takeaways

GreaterSanAntoniohasbeenonashortlistofmajormarkets inrecentyearsattheforefrontofasupplyanddemand imbalance MyriadmarketsacrosstheSunbelthaveseena surgeindeliveries,butSanAntoniodemandhasbeenless consistentthaninmanyofthem

Lastyear,netabsorptiontookaninitialsteptowardrecovery, butthatstepwasunderminedbyadelugeofnewunitsas deliveriespeaked.Thisyear,newsupplyhasstartedtorecede, andapartmentdemandhasmanagedanotherrobuststepin therightdirection.Theresulthasbeenamuchmoremodest shortfallofnetabsorbedunitsrelativetonewunits From2022 through2024,thatannualshortfalltotalednofewerthan about6,800units ThroughMayofthisyear,theshortfallstood atonlyabout200units.

2025isfarfromoverandmuchuncertaintyexistsoutsidethe industry Sofar,theyearisshapinguptobeanimportantfirst stepinarecoveryforamarketthathasbeenbatteredin certainrespectsoverthelastfewyears

*JordanBrooksisaSeniorMarketAnalystatALNApartment Data.

A net gain of almost 300 leased units made 2025 the second consecutive year to see positive stabilized demand through the first five months of the year.

BUDGETING BUDGETING FOR THE ADVANCED FOR

THE ADVANCED WITH ALAN ROSS WITH ALAN ROSS

Director of Operations Director of Operations

Bob Ross Realty

THURSDAY, JULY 10TH THURSDAY, JULY 10TH

9:00 AM - 12:00 PM 9:00 AM - 12:00 PM

SAAA Main Office (7525 Babcock Rd)

Utilize data analytics to inform

Utilize data analytics to inform budgeting processes. budgeting processes. Implement processes that improve Implement processes that improve visibility into budgeting & forecasting. visibility into budgeting & forecasting.

Use advanced forecasting methods to Use advanced forecasting methods to anticipate future financial conditions anticipate future financial conditions.

FEATURED RESOURCES FOR PROPERTY MANAGEMENT

As a valued member of the Texas Apartment Association (TAA) community, we are excited to introduce you to the valuable resources and opportunities offered by the TAA Education Foundation (TAAEF) to help our members recruit, retain and advance talent in Texas rental housing. Through our education programs, we are committed to fostering personal and professional growth and opening doors to career pathways.

How to ensure that your property is presentable to potential residents

Obtaining ideal pictures of amenities and attractive floor plans

Ensure that potential residents see how the staff interact with one another while closing the sale

How to take your onsite marketing and use it affectively online through your website, social media and other platforms.

Duration: 9AM - 12PM

Start Date: July 15, 2025

Price: No fee for SAAA Members

TUESDAY,JULY15TH TUESDAY,JULY15TH

9:00AM-12:00PM 9:00AM-12:00PM

SPECIAL DISCOUNT

SPECIAL DISCOUNT TICKETS EXCLUSIVELY TICKETS EXCLUSIVELY

FOR SAAA MEMBERS

SELECT YOUR PREFERRED DATE

TAKE PICTURES AT THE GAME

TAG US @SAAATEXAS & @SAMISSIONS

USE THE HASHTAG: #SAAATEXAS

THREE GREAT PRIZES! THREE GREAT PRIZES!

Writers Wanted! Writers Wanted!

SAAA is looking for your professional opinion. SAAA is looking for your professional opinion.

Have you ever written Have you ever written a blog or article in your professional a blog or article in your professional career? Do you have something to say about the services career? Do you have something to say about the services you provide and industry we serve and want to share with you provide and industry we serve and want to share with your peers? SAAA is searching for content contributors who your peers? SAAA is searching for content contributors who are eager to provide their perspective on a number of are eager to provide their perspective on a number of categories such as tips on clean living, appliance repair, categories such as tips on clean living, appliance repair, marketing strategies, how to look for signs of mold, security marketing strategies, how to look for signs of mold, security issues on your property and much more! issues on your property and much more!

C O N T A C T B E V E R L Y

Why Contribute? Why Contribute?

Transparency and Transparency and consistency will matter to consistency will matter to your target audience your target audience

THURSDAY, JULY 31ST

Manageyourtimeandmoneywisely. Manageyourtimeandmoneywisely. Acquireapropertyandprepareitforresidents. Acquireapropertyandprepareitforresidents. Makeyourpropertystandoutandattractpotentialresidents. Makeyourpropertystandoutandattractpotentialresidents. Howtokeepgoodresidentsandgetridofbadones. Howtokeepgoodresidentsandgetridofbadones. Collectingandincreasingrentwhennecessary. Collectingandincreasingrentwhennecessary. Puttingthingsinwritingandalwaysbeupfrontwithfees. Handlingmattersprofessionallyandmaintaininganeffective Handlingmattersprofessionallyandmaintaininganeffective communicationsystem. communicationsystem. Andmuchmore! Andmuchmore!

Feature of The Week Feature of The Week

Be a part of the SAAA Weekly Spotlight with #MemberMonday featuring your community and showcase your amenities and current move-in specials

SAAA will feature and tag your community on our social media platforms: Facebook, Instagram and LinkedIn, a combined total of 10K plus followers

Take full advantage to promote your property at no cost! Just be an active

SAAA member! See how SAAA will help get the buzz going about your property!

Email Clemente Sanchez with any questions at csanchez@saaaonline.org

The San Antonio Apartment Association PAC Business Exchange is a great opportunity for Supplier Members to network with key decision makers in the rental housing industry. The event provides the perfect platform for Supplier Members to showcase their expertise and products to potential customers.

STEPS TO REGISTER:

1.Log into the San Antonio Apartment Association website (www.saaaonline.org)

2.Go to the Events tab and click “Upcoming Events”

3.Scroll down or search for “PAC Business Exchange”

4.On the PAC Business Exchange page there is a registration link in the event details. This link will go live at 10:00 AM on JULY 15th and will take you to an online form to complete

5 Complete the online registration form and submit payment The cost of the Business Exchange is $800 00 Please note that this is a PAC donation. *

6 If you miss the cut-off for the number of available spots, you will be waitlisted

7 PLEASE ARRIVE BY 2:45 TO DO SOME PRE-EVENT MINGLING, PHOTOS, AND TO TAKE YOUR SEAT.

HOW IT WORKS

Essentially each supplier will have a professional meeting session with decision makers of the owner/management companies for four minutes. The process is very much like speed dating. Owner/management companies will be stationary; suppliers will be moving from one table to the next. A bell will be designated when a meeting session ends. Once a meeting session ends each supplier moves quickly to the next table.

Time Schedule

Check-in starts at 2:30 p.m. outside the La Joya Ballroom Business Exchange starts promptly at 3:00 p.m.

There will be an intermission halfway through the event.

Optional Reception starts at 5:00 p.m. (or as soon as the exchange ends) Event will end at 6:00 p.m.