The Multifamily Market Shift — What Syndicators Must Know Now with Dugan Kelley (Part 1)

Transaction volume in multifamily is down 60 to 70%. The syndicators still winning are the ones using deal structures most people haven't touched in years.

In Part 1 of this three-part series, syndication attorney Dugan Kelley — a 23-year legal veteran and trusted advisor to Think Multifamily for over seven years — breaks down exactly what has shifted in the acquisition market and what operators, sponsors, and investors need to know right now.

In this episode you will learn:

• Why the market has flipped from seller-driven to buyer-driven — and what that means for earnest money, due diligence, and deal structure

• How loan assumptions, seller carrybacks, and contract-for-deed are becoming primary negotiation tools instead of last resorts

• What the trillions in maturing multifamily debt means for deal flow over the next 12 to 18 months

• Why SEC regulatory shifts around Regulation D matter for every syndicator raising capital right now

• How to explain bonus depreciation and 1031 exchange benefits to potential investors — and why you must be able to

This is the episode that reframes the current market — not as a crisis, but as one of the most significant buying opportunities in a generation.

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Check out the shownotes for this podcast here.