This section of New Concepts is intended to be a more personal and practical look at the multifamily real estate business through my experience, observations, and industry relationships. In it, I’ll share articles, interviews, market commentary, economic trends, and industry discussions that I believe are important to apartment owners and investors here in Utah.

Over the course of a 40-year career in commercial real estate, I’ve had the opportunity to work as an investor, lender, broker, asset manager, and principal in virtually every phase of the business. I’ve been involved in closing of more than 2,000 properties with transactional volume exceeding $800 million. Nearly all of that experience has centered around distressed, underperforming, or value-add real estate.

My career has included managing the Real Estate Owned Department for a $3.2 billion savings and loan, directing acquisition and disposition activities for a private equity fund focused on non-performing loans, helping grow a multifamily start-up focused on value-add apartment investments, and overseeing asset management assignments designed to improve operational performance and property value.

That background continues to shape the consulting and brokerage services I provide today through Svikhart & Associates and the Concept Multifamily platform. My focus is not simply listing properties for sale, but helping owners identify opportunities to improve operations, increase cash flow, strengthen property positioning, and maximize long-term value — whether they are preparing to sell, refinance, hold, or reposition an asset. What I bring in my current role is ownership perspective and brokerage execution.

One industry resource I regularly follow is the Walker Webcast, hosted by Willy Walker, Chairman and CEO of Walker & Dunlop. Each Wednesday morning, Willy interviews leading voices from real estate, banking, finance, technology, and business. The conversations are informative, timely, and often provide valuable perspective on where markets and the economy may be headed.

A regular guest on the webcast is Peter Linneman, former Professor Emeritus of Real Estate at the Wharton School and publisher of the Linneman Letter. In his July 8 appearance, Linneman discussed debt, jobs, GDP, AI investment, trends, data centers, Federal Reserve policy, and other issues:

Harvard University’s Joint Center for Housing Studies annually publishes “The State of the Nation’s Housing,” a report released in June providing a comprehensive and detailed evaluation of the condition of housing in the United States. We highly recommend you take a look. One of the bullet points of particular note:

“The median asking rent for newly built units in 2025 was $1,900 per month, far beyond the $1,400 that a renter with the US median income could afford, assuming the 30 percent of income threshold. The median price of a new single-family home was $417,400 in 2025. At this price, a household needs an income of roughly $120,000 to meet the threshold, assuming a 30-year fixed-rate mortgage, 6.0 percent interest rate, and 3.5 percent down payment.”

​- The State of the Nation’s Housing, Harvard University Joint Center for Housing Studies

June, 2026

Given the median income differential, it’s no wonder that many of the newly constructed multifamily properties in Utah are experiencing occupancy challenges with many offering significant concessions in order to get units leased.

“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