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One of the most important questions investors are asking today: what is really happening to multifamily property values?

In a recent episode of IMG Insights, Investors Management Group’s educational video series, Karlin Conklin, Principal, Co-President & COO at IMG and Co-President & Principal at Parktown Living, joins Dave Mikkelsen, Director of Investor Relations, to tackle that question head on. Their answer: it comes down to time and money.

For Parktown Living clients, this conversation is directly relevant. Understanding where we are in the real estate cycle — and what headwinds and tailwinds are at play — shapes how we approach operations, capital deployment, and long-term asset performance.

Where Are We in the Cycle?

Real estate has always moved in cycles. What makes the current environment unique is the combination of factors compressing values simultaneously: elevated interest rates, increased insurance and operating costs, and a wave of new supply in key markets. These forces have weighed on property valuations across the multifamily sector.

But cycles are also finite. As Karlin and Dave explore in the episode, the conditions driving value compression are beginning to shift — and investors who understand that dynamic are best positioned to act with confidence.

Tailwinds Supporting Operational Improvement

Even in a challenging valuation environment, there are meaningful tailwinds for owners who execute well. Construction starts have slowed considerably since the rate spike of 2022–2023, and as the current delivery pipeline is absorbed, rent growth is expected to improve across many markets. Demand fundamentals remain resilient — household formation, migration patterns, and the affordability gap between renting and homeownership continue to support multifamily. And for owners with disciplined operations in place, the groundwork for NOI growth and value recovery is already being laid.

What This Means for Value Recovery

Value recovery in real estate is rarely sudden. As the episode title suggests, it takes time and money, patient capital paired with disciplined operations. Owners who hold quality assets in strong markets and maintain operational rigor through the cycle are historically the ones who capture the most meaningful recoveries.

For Parktown Living clients, this reinforces the importance of a management partner who thinks like an owner: focused on protecting NOI today while positioning assets for value creation tomorrow. Through our affiliation with IMG, our clients benefit from both best-in-class property management and the institutional-grade perspective that informs episodes like this one (view the full episode).

Learn more about Parktown Living Property Management and IMG Advisory Services
Navigating a real estate cycle requires more than good intentions — it requires operational discipline at the property level and strategic clarity at the asset level. Parktown Living delivers both. As an affiliate of IMG, our clients benefit from best-in-class property management paired with IMG Advisory Services’ institutional-grade investment perspective. If you are a multifamily owner looking for a partner who protects performance today and positions your assets for value recovery tomorrow, send us a message below and our team will be in touch.