Registration and Continental Breakfast

Conference Co-Chairmen:
David Horwood, Assistant Vice President, The Effort Trust Company 
Phil Milroy, President & COO, Westcorp Properties Inc.

What is the short and long-term outlook for the economy in major cities across Canada and for North America as a whole? Where are interest rates, commodity prices, bond yields and inflation heading in 2007 and beyond? What are the immigration and population growth patterns in major cities across the country? Are they expected to stay the same? What is the outlook for manufacturing in Ontario and which areas will benefit. What are the prospects for Ontario in comparison to other provinces?

Benjamin Tal, Senior Economist, CIBC World Markets
 

This presentation will provide a brief analysis of rental housing supply and demand across the country over the short and medium-term. The speaker will include an examination of the current and emerging direction of rental and homeownership affordability and demand and include a brief overview of potential changes to current legislation across the country and the impact on trends in vacancy rates and rent levels in major urban areas.

Peter Norman, Director, Altus Clayton

A brief strategic analysis of apartment investment market activity in major cities across the country. Using trend setting sales in 2006 and the first three quarters of 2007, this presentation will examine the key trends. For example, who is buying and who is selling multi-unit residential properties at this time? Where are cap rates and trade volumes currently and where do they appear to be heading over the next 12 to24 months? What factors are having the greatest impact on property values? What impact is the condominium market having on rental values? What are the benchmark transactions that have been trend setting values on small, medium and large properties at this time?

Panel:
David Montressor, Vice President, National Apartment Group,
     CB Richard Ellis Limited
Ray Townsend, Vice President & Principal,
     CB Richard Ellis Alberta Limited
Germain Villeneuve, Vice President, CB Richard Ellis Quebec Limited

Session A1
A BOTTOM LINE ANALYSIS: RETURNS IN AN URBAN CENTRE VS. A SMALL MARKET
As a result of availability and a perceived flexibility in price, some investors contend that secondary markets offer a better return.   The speakers in this session will provide a detailed analysis of the spread and return on investment between an acquisition in a secondary or tertiary market and an urban centre. Issues that will be addressed include the metrics that define a secondary market, the impact that cap rate compression has had on investment deals in both markets?          

Moderator:
Sandy Mandel, President, Sanford Mandel & Associates Inc.

Panel:
Aik Aliferis, Principal,
     Primecorp Commercial Realty Inc.
Michael Betsalel, Multi-Family Specialist,
     Colliers International
Michael Mackenzie, COO, Conundrum Capital Corporation
Michael Newman, CEO, InterRent REIT

Session A2 
A DIAMOND IN THE ROUGH: CONVERSION TO CO-OWNERSHIP AND CONDOS MAXIMIZES THE ATTRIBUTES OF OLDER BUILDING STOCK
The conversion of older apartment buildings offers a significant opportunity to create a desirable, competitively priced asset to compete with current condo stock that is available across Canada. Located in desirable areas close to public transportation and featuring larger than average sized rooms, they are an untapped resource in the multi-residential market. This session will examine the rules and   regulations governing both activities in most provinces and will explore the pros and cons of co-ownership vs. condo conversion. As a building owner, what do you need to  know before you consider either option and what must you be prepared to do? How can you successfully undertake a conversion within the current       regulatory environment? Case studies will then be presented to illustrate what is involved in implementing these kinds of strategies.

Moderator:
David Bloomstone, Vice President & Director, Commercial Brokerage,
     Realty Group, TD Securities

Panel:
ason Birnboim,
     Vice President, Beaux Properties
Joseph Crivici, Director, Acquisitions & Development,
     Platinum Properties Group Corporation
Bob Doumani, Partner,
     Aird & Berlis LLP
Holden Rhodes, Partner,
     McKenzie Lake Lawyers LLP

Session A3
INNOVATIONS IN SENIORS, STUDENT HOUSING AND OTHER MULTI-UNIT RESIDENTIAL ALTERNATIVES: WHAT ARE THE OPPORTUNITIES AND RISKS?
Although the student population is more affluent than in previous generations and they have unique requirements for building and personal safety the student housing market is currently underserved. An aging population, evolving consumer taste and rising income status is driving activity in mobile homes and senior and adult lifestyle buildings. This session will explore the opportunities available in these housing options.  What differentiates these options from traditional forms of multi-unit residential buildings? How important is location?  What is a lender’s perspective on student housing, mobile homes and seniors’ and adult residences as products and what criteria does an owner have to satsify to gain access to capital to develop them?

Moderator:
Stephen Hiscox, Vice President & Director, TD Securities Realty Group Inc.

Panel:
Renzo Barazzuol, Executive Vice President,
     Business Development,
     Amica Mature Lifestyles Inc.
Jamie Crich, President,
     Auburn Developments Inc.
Ronald Dick, President, Canada Student Residence Corporation
Mark Hansen, Associate Vice President, Operations, CAP REIT

Session A4
MARKETING AND LEASING STRATEGIES FOR APARTMENT OWNERS:  HOW DO YOU KEEP YOUR VACANCY RATE AT AN ACCEPTABLE LEVEL?
Acquire insight into the top strategies that will keep your building full. How does an owner determine the rental rate for a building? What percentage of an owner’s operating budget should be allocated to marketing? How do you write and implement a marketing plan that will make the phone ring and the door swing? How do you help your staff become better sales people? What strategies and best practices are being used by apartment owners to retain their existing residents and attract new occupants? What are some of the strongest niche market opportunities in today’s apartment sector? What role does technology play in the management and marketing of today’s buildings?  

Moderator/Speaker:
Amin Rahim, Director, Marketing & Leasing, Vertica Resident Services

Speaker:
Rick Ellis, President, ELLIS Consulting Group, U.S.
A noted apartment marketing guru and national speaker, Rick will share his 27 years of experience and expertise.
 

Session B1
INVESTMENT UNDERWRITING AND DECISION MAKING:  HOW BUYERS ARE RATIONALIZING PURCHASES 
The market for investment grade multi-family real estate remains active and competitive. How are active buyers evaluating prospective acquisitions and rationalizing purchases? What criteria and key valuation parameters are these investors using to assess risk and value target assets?

The speakers in this session will represent a cross section of investor types including institutional, private, public, and foreign and will provide representation and strategic insights from across Canada. Speakers will discuss and debate the risks and rewards of investing in several different markets and product types. 

Moderator:
Lee Warren, Senior Director, National Real Estate Services,
     Sun Life Financial 

Panel:
Bob Dhillon, President & CEO, Mainstreet Equity Corp.
Daniel Drimmer, President, TransGlobe Property Management Services
Tom Schwartz, President & CEO, CAP REIT
Tyler Seaman, Vice President, Multi-Residential,
     Oxford Properties Group Inc.

Session B2 
RETROFITTING VS. BUILDING NEW RENTAL HOUSING: THE DEBATE CONTINUES
With the aging of the apartment stock, many landlords are facing the decision to either retrofit the building or build a new apartment building. What are the strategic options involved in each choice? Is there a business case for new construction or will renovating the structure provide an equally significant return on your investment? The panel will discuss financing options, risks and opportunities in both options. Case study presentations will be referenced.

Moderator:
Drew Koivu, Director, Multi-Residential,
     BMO Capital Markets Real Estate Group 

Panel:
Jeff Hutchison, COO & Vice President, Asset Management,
     Timbercreek Asset Management Inc.
Jack Lechcier-Kimel, Founder & President,
     Summit Glen Group of Companies Inc.
Brian McCauley, Executive Vice President, Concert Properties Ltd.
Greg Romundt, President & CEO, Centurion Property Associates Inc.

Session B3 
WHAT DOES IT REALLY COST TO OPERATE A MULTI-UNIT RESIDENTIAL   PROPERTY?  STRATEGIES TO INCREASE YOUR NOI & CASH FLOW
The speakers in this session will examine current trends in operating costs and other determinants that influence acquisition values for multi-unit residential buildings and will provide strategies to increase your NOI and cash flow. What is the current cost to operate a rental property on a per square ft. basis and a per unit basis for all building types including high-rise, concrete, and low-rise wood frame? What is the cost differentiation of tenant regulated electric heating vs. landlord regulated gas heating? What is the real cost of repair and maintenance. Items that are traditionally addressed in evaluating an acquisition including current operating costs, the age of the property, Cap Ex items, and unit mix will also be addressed?

Moderator:
Jason Schinder, Executive Vice President, District Realty Corporation

Panel:
Larry Dinally, General Manager, Morguard Residential Inc.
Evan Kirsh, Senior Vice President, Multi-Residential,
     GWL Realty Advisors Inc.
Carey Poon, Manager,
     Multi-Residential Valuation, Altus Group
Barry Remai, Vice President, Remai Group of Companies

Session B4 
THE IMPACT OF GREENING ON THE VALUE OF YOUR ASSETS
Rising energy costs and a growing public awareness of the importance of sustainability have contributed to an interest in greening new and existing buildings. Based on increased operational efficiencies, green multi-residential buildings create more value for the owner. What green strategies, environmental enhancements and programs will most effectively reduce operational costs? Is there sufficient tenant demand to support the business case for greening apartment buildings? Does greening offer significant marketing advantages? This session will provide an update on the impact and benefits of greening new and existing apartment buildings.

Moderator/Speaker:
Andrew Pride, Vice President, Minto Energy Management

Panel:
Robert Manherz, President,
      Dundurn Capital Partners Inc.
Paul Smith, Chief Administrative Officer,
     The DMS Group
Rick Williams,
     President, Carma Industries Inc.
 

The huge capital flows in recent years into this asset class are a growing international trend. Where is all the money coming from? How much is from foreign investors vs. domestic sources? What rates of return do they seek? How much investor interest is there in secondary and tertiary markets and how does it compare coast to coast? How do pension funds compare vs. private sources of capital vs. the public markets? Is Canada competitive insofar as being able to attract the lowest cost of capital? What is the gap between Canadian and US values? What are the key metrics that drive an acquisition?

Greg Kalil, Managing Partner, Brookfield Financial
 

Session C1 
SMALL OWNERS ROUNDTABLE: OPPORTUNITIES AND CHALLENGES IN THE MULTI-RESIDENTIAL MARKET 
This session will examine the context of today’s multi-unit residential market from the perspective of smaller owners and investors. What do they see as challenges to future growth and how do they see the market evolving? What niches and opportunities are they pursuing to improve cash flow and increase value in their portfolio? What is the most effective policy for dealing with deferred maintenance? What strategies do they employ when buying a property and what steps do they take to prepare their property for sale?

Moderator:
Sam Firestone, Principal, Primecorp Commercial Realty Inc.

Panel:
Kevin Crandles, Principal, Strategic Mortgage Capital Company
Berend Koopmans, President, Lynwill Property Management Corporation
Adam Krehm, Principal, O'Shanter Development Company Ltd.
Jim McClintock, President & COO, InterRent REIT

Session C2 
ACCESSING DEBT & EQUITY FINANCING FROM PUBLIC AND PRIVATE CAPITAL SOURCES: WHAT ARE YOUR BEST ALTERNATIVES IN TODAY’S MARKET?         
In the current hyper liquid market with historically low costs of capital, lending markets are very highly competitive. From the perspective of both owners and lenders you will gain insights into a range of financing strategies for your current portfolio or to acquire new properties. Using case studies, the panel will discuss pricing in today’s market and the pros and cons of various products.

• What is the conventional mortgage market’s appetite towards financing rental   housing in 2007?

• To what extent are more conduits getting involved in the rental sector?

• What are the major differences between traditional mortgages and conduit loans?

• What information does a lender need to have when making a loan on an existing building or a new apartment building?

• Is CMHC still relevant in the current market with low cap rates at higher spread than other sources of capital?

• What products is CMHC offering to provide underwriting and financing stability?

• Are many borrowers using leverage to access secondary forms of financing to maintain liquidity? What are the major sources of equity and mezzanine financing?

• What is a Commercial Mortgage Backed Securities (CMBS)? What does it cost and under what circumstances should this form of funding be accessed?

Moderator:
Dan Acre, Vice President, Ontario, Cogir Management Corporation Inc.

Panel:
Ugo Bizzarri, CFO & Vice President, Acquisitions,
   Timbercreek Asset Management Inc.
Brian Kimmel, Director, Real Estate Finance, First National Financial LP
John Lynch, Manager, Business Development,
     Multi-Unit Mortgage Insurance, Canada Mortgage & Housing Corporation
Don Matthews, Senior Vice President, Production & Marketing,
     Mezz Cap Canada

Session C3  
THE CANADIAN APARTMENT LANDSCAPE: BUY & SELL OPPORTUNITIES   
Apartment investment is driven by the nature of key metrics including demographic and economic landscape as well as acquisition and disposition activity. The speakers in this session will provide a statistical and analytical look at the Canadian apartment marketplace with a particular focus on the GGHA. Who are the public players? Who are the small investors? What do they own and what properties are left to buy? Based on empirical data, specific examples will be presented on where to buy, where to build, and where to retrofit and renovate apartments and where to run from.

Moderator:
Jim Dimanis, Vice President, Property Management,
     Westcorp Properties Inc.

Panel:
Mark Kenney, Vice President, Operations,
     CAP REIT
Derek Lobo, CEO, DALA Group of Companies/ROCK Apartment Advisors

Session C4 
ASSET POSITIONING: NEW STRATEGIES FOR INCREASING YOUR NOI AND BUILDING VALUE IN YOUR PORTFOLIO
With aging of the apartment stock, rising costs and restrictive legislation many landlords are pursuing strong management and financial practices to add value to a property. This session will examine effective strategies, amenities and innovations that will build value in your portfolio. The speakers will address a range of new strategies including the impact of staff training, high tech security systems, automation and will reference specific renovation initiatives that will provide the best ROI in the current market.

Moderator:
Harley Mintz, Chairman, Mintz & Partners LLP

Panel:
Leonard Drimmer, CEO, TransGlobe Property Management Services Mathieu Duguay, Senior Vice President, Operations,
     Cogir Management Corporation Inc.
David Goodman, Broker, MacDonald Commercial Real Estate Services Ltd.
Terry Rout, Managing Partner, Janterra Real Estate Advisors
 

David Fitch, President & CEO, Gables Residential

Gables Residential is a real estate investment REIT that acquires, constructs and manages upscale apartment complexes in the southern US. The company owns or has interests in about 80 properties with some 21,000 units in California, Florida, Georgia, Texas and Washington DC. In 2005 Gables Residential was acquired by a private partnership sponsored by ING Clarion Partners.
 

Thursday, September 20, 2007