Concept of the Newsletter

This is the first publication of the Concept Multifamily Newsletter. The objective of the Newsletter is to inform the reader regarding multifamily issues, trends, forecasts, and events. As the Newsletter is Utah-based, its strong focus will be on the Wasatch Front but national issues such as the economy, interest rates and other developments in Washington affecting Utah multifamily will be addressed. The Newsletter will occasionally provide commentary.

The Newsletter will address multifamily property management, recent sales and will provide a link to currently available multifamily properties listed for sale in Utah.

​The goal of the Newsletter is to inform. If there are issues, topics or other information you as a reader would like to see in the Newsletter, please don’t hesitate in reaching out to make your suggestions or recommendation.

From The Desk Of … David Svikhart

Willy Walker is the Chairman and CEO of Walker & Dunlop. Under his leadership, the company has transformed into one of the largest commercial real estate finance and advisory firms in the United States and internationally. Every Wednesday morning (10:30 am Mountain Time), Willy hosts the Walker Webcast which features guests commenting on topics ranging from banking and finance to the economy, leadership and technology. I highly recommend it.

On a quarterly basis, Willy’s guest is Peter Linneman, Ph.D., former distinguished Professor Emeritus of Real Estate at the Wharton School of Business and publisher of the Linneman Letter. Linneman’s last appearance was on March 11, when he discussed jobs, the national debt, data centers and the Fed. Here’s the link:

The Most Insighful Hour in CRE

David Svikhart

Multifamily Broker & Consultant

Salt Lake City, UT

801-550-5684

dave@svikhart.com

Svikhart & Associates

The Most Insightful Hour in CRE

Heard On The Street

The Fed did not reduce its benchmark federal funds rate at its last meeting on March 17-18, 2026, holding the rate steady at 3.50% – 3.75%.

​“Job gains have remained low. A good part of the slowing in the pace of job growth over the past year reflects a decline in the growth of the labor force due to lower immigration and labor force participation. Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East. Most measures of longer-term expectations remain consistent with our 2% inflation goal.”

​Jerome Powell, Chairman of the Federal Reserve

March 18, 2026

¨What are you hearin’ out there?¨

Concept Property Management currently manages 2,000+ units at 65+ properties. Over its normal course of business, Scott Cruze (CEO), Caitlyn Powell (???) and various regional managers are often asked by investors and owners about the market, trends, news and issues impacting their property. One of the more common questions is, “What are you hearing out there….?” Here’s what we’re seeing and hearing:

  • Concessions are being offered at will over 50% of apartment properties in Utah
  • Rents are flattening and the level of increases that have been realized over the past several years are but a memory

  • Average occupancy at many assets has declined from 94%-97% to 91%-94%

  • Traffic for available units has slowed

  • Many prospective residents are searching for a longer period of time in finding their next apartment

To learn more about what we’re hearing and seeing

Client Testimonial

“I have never had such a personalized experience when apartment hunting as when I started working with Concept! From the first contact to move in day, everyone I’ve spoken to has gone above and beyond to provide exceptional service. I can’t brag enough.”

Florea Throneberry, Resident

Current Multi Family `For Rent` Properties

The number of multifamily properties listed for sale has expanded dramatically in 2026 as the economy has ‘evened out’ and knee-jerk reactions to changes in interest rates have subsided. Coupling this with Utah’s economy remaining one of the strongest in the nation (GDP growth in Utah 4.50% vs national 2.80%). Utah’s low unemployment (3.60%/January 2026) vs. the national average (4.40%/February 2026) and a highly educated workforce (61% Utah vs. 54% national average) both contribute to Utah being a very attractive in which to purchase multifamily properties.

Beyond Brokerage

Concept Multifamily offers services beyond brokerage sales. A few are…

Asset Management

Multifamily asset management is the strategic oversight of rental properties designed to maximize financial performance, increase property value, and improve investor returns. It focuses on long-term strategy, NOI, and capital improvements. Let 40+ years of experience assist you in developing a strategic plan to help your property perform better resulting in higher returns.

Value Analysis

While valuation analysis defines the value of a property, it also addresses operational efficiencies, value-add economics, renovation return-on-investment, and ancillary income opportunities.

 

Nearly 100% of Dave Svikhart’s career has focused on distressed or value-add real estate. From running the REO Department at $3.2 billion savings and loan to directing acquisition/disposition at a private equity fund purchasing non-performing loans to growing a multifamily start-up investing in value-add apartment properties, Dave’s focus has been on identifying operational inefficiencies and resolving them resulting in improved cash flow and returns to the owner.

660 28th Street Apts

$1450000Asking Price
  • Address: Ogden
  • Units : 10
  • $/Unit: $1450000
  • Age : 1952/2020
  • Class : B

Learn more

East/South/Summer Point Apts

$5750000Asking Price
  • Address : Various
  • City : Provo
  • Units : 35
  • $/Unit: $164285
  • Age : 1981
  • Asking Price : $5750000
  • Class : C

Learn more

Smith Villas

$3100000Asking Price
  • Address : 2650 Jefferson 
  • City : Ogden
  • Asking Price : $3100000
  • Units : 18
  • $/Unit: $172222
  • Age : 1979
  • Class  : C

Learn more

Second South Apts

$3600000Asking Price
  • Address : 828 East 200 South
  • City : Salt Lake City
  • Asking Price : $3600000
  • Units : 19
  • $/Unit: $189473
  • Age : 1964
  • Class  : C

Learn more

info@conceptmultifamily.com
Call/text: 801-548-0330

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