OPPORTUNITIES AND CHALLENGES IN THE MONTRÉAL OFFICE MARKET: IS IT HEADING TOWARDS TENANT FAVOURABLE CONDITIONS?
This session will examine the performance and outlook for the Greater Montréal Area office market. Discussion will begin with some insights into corporate real estate expectations in today’s environment. How are the downtown, midtown and suburban markets competing with each other? Why are Standard Life and Visa Desjardins moving out of downtown locations at a time when major new office projects and renewal are underway in the core? What are the tenants looking for in each of these sub-markets? How is accessibility to knowledge workers, transit, flexible workplaces, and quality of life considerations being balanced against location, costs and an interest in newer buildings? What are some examples of workplace innovations? What challenges do older properties face in this market? What will create growth and demand for more office space? Are we now in a tenant favourable market conditions? What will most likely occur in this market in 2015 and beyond?
Michal Kuzmicki, Managing Partner, Brookfield Financial
Vincent Chiara, President, Groupe Mach Inc.
Sandra Neill, Interior Designer, Associate, Lemay
Peter Picciola, Vice President, Office Leasing, Québec, Ivanhoé Cambridge
André Plourde, President, Groupe immobilier (Montréal . Québec)
DEBT FINANCING: WHILE THERE IS NO SHORTAGE OF CAPITAL IS CREDIT GETTING TIGHTER? WHERE ARE SPREADS HEADING?
A panel discussion will focus on the debt market and examine what borrowers can expect for the remainder of 2015 and beyond. Who are the most active lenders? Over and above the major financial institutions, large pension funds and lifecos, to what extent are alternative sources active in the Montréal market including private equity funds, smaller banks, mortgage investment corporations and other non-bank lenders? To what extent do the strategies vary?
How are they assessing a transaction and pricing it in this market? Are there any property classes that they are avoiding, reducing exposure to, or increasing pricing for? How available are mezzanine financing and other secondary sources of debt? How are they being priced? To what extent is non-recourse financing and CMBS activity growing? Case studies of actual transactions including smaller projects will be examined during the discussion.
Benoit Cyr, Vice President & Chief Financial Officer, BTB REIT
René Demers, Associate Vice President, Real Estate Financing, National Bank of Canada
Ross Di Vita, Assistant Vice President & Regional Director, Montréal Mortgage Branch,
Martine Gaudreault, Vice President, Real Estate Lending Québec and Eastern Canada, Otéra Capital
Lyne Roy Payette, Vice President, Commercial Mortgages, Desjardins Asset Management
Robert St-Pierre, Assistant Vice President, Québec, First National Financial LP
AN UPDATE ON MAJOR ELEMENTS OF THE MULTI-RESIDENTIAL MARKET: CONDOMINIUMS, RENTAL APARTMENTS, AND SENIORS HOUSING
The session will bring some clarity to major elements of the housing market in Montréal. The current state of the condominium market will be examined. To what extent has this part of the market now been overbuilt? What will be required in order for condominium development to continue throughout 2015? Who will be the most active buyers? How is the rental market performing at this time? Is the condominium market having any implications for the apartment sector, e.g. reducing demand, as renters become owners, creating new units for rent? Is there viability for purpose built rental apartments? The demographics continually show the growth in the number of seniors, especially as the oldest baby boomers are in the latter 60s. Is the senior housing market finally a strong opportunity?
Marc Hétu, Vice President, CBRE Limited
Tyler Seaman,Vice President, Hotels & Multi-Residential, Oxford Properties Group
Mathieu Collette, Director, Condominium Market Study, Altus Group
Kevork Meterissian, Vice President, Operations,
Multi-Residential, COGIR Management Corporation
Louis-Joseph Papineau, Vice President,
Development & Construction, Proment Corporation
Tyler Seaman, Vice President,
Hotels & Multi-Residential, Oxford Properties Group
THE REVITALIZATION OF SAINTE-CATHERINE STREET: A CASE STUDY OF WHAT THE PUBLIC AND PRIVATE SECTORS ARE DOING
One of the most famous and significant avenues among Canada cities is Montréal’s Sainte-Catherine Street. Stretching for 15 km across the city from east to west, the
Street is lined with major department stores, hundreds of other retailers, and numerous restaurants that have been the pride of Montréal for more than a century. This session will examine the challenges and opportunities for owners, retailers, the City of Montréal and other stakeholders regarding the revitalization of this key commercial and public artery. What are some of the key projects that are being undertaken by private developers? What winning conditions are required to perform the work successfully and maximize the benefits of these investments?
Johanne Marcotte, President, CREW Montréal and General Manager, Centre Eaton de Montréal, Complexe Les Ailes & 1500 University
Jean-François Grenier, Senior Director, Altus Group
Céline Huot, Director, Strategy and Communications, Board of Trade of Metropolitan Montréal
Isabelle Lebrun, Project Manager, Sainte-Catherine Street West Project, City of Montréal
CASE STUDIES OF UNIQUE MIXED-USE DEVELOPMENT AND INTENSIFICATION PROJECTS: WHAT THE KEY FACTORS SUPPORTING THESE TRENDS?
Inner city development activity continues to sweep across Canadian cities. Montréal is certainly no exception with a wide range of mixed-use developments occurring across the island. The evidence is very strong that successful cities need a vibrant mixed-use core where people gather and where commerce, culture, recreation, entertainment, education and inspiration meet. This session will examine several case studies of major projects in Montréal that have some unique characteristics. What type of innovative projects and city building are underway? What are the key factors responsible for the growth of mixed-use formats? How is the concept of “work, live, play and learn” applying to the downtown Montréal market? What are challenges associated with creating a mixed-use project and its ownership structure that developers need to understand?
Brian Fahey, President, Fahey et associés Inc.
Carole Handfield, Project Manager, Fonds immobilier de solidarité FTQ
Mathieu Jobin, General Director, Partner, Devimco Immobilier
Anthony O'Brien, Senior Managing Director, North America, Jesta Group
Jacques Vincent, President, Prével Urbain
INDUSTRIAL REAL ESTATE MARKET: IN WHAT DIRECTIONS ARE DEVELOPMENT, LEASING AND INVESTMENT TRENDS HEADING?
During 2014, industrial real estate was on the comeback trail across Canada. The session will open with a brief examination of how this property class is performing in the Greater Montréal Area including current and projected investment trends, vacancy and absorption rates, and prevailing NERs. A comparison discussion will follow on off-island markets (e.g. the South Shore and Laval) vs. the challenges in more mature markets closer to the city (e.g. St. Laurent, Pointe Claire, Lachine, East End). What is driving the demand for new development especially for the logistics market? What is the status of the major intermodal inland port? What does the future hold for the older industrial properties and the repositioning of obsolete buildings? Can they be sold for a premium to investors with redevelopment or renewal plans? What is the outlook on how the Montréal industrial market will perform from a leasing, investment and development perspective over the next 12 months?
Erik Charton, Senior Vice President & Industrial Practice Lead, JLL
Ryan Houfek, Assistant Vice President, Marketing, CSXT Intermodal
Michael Jager, Business Development & Property Manager, The Montoni Group
Gil Kastner, Vice President, Leasing & Business Development, Landmark Properties
Thierry Lessoil, Managing Director, Real Estate, Sun Life Financial