PROGRAm:

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Monday, March 31, 2014

6:00 p.m. - 9:00 p.m.

UDI QUÉBEC'S REAL ESTATE EVENING

 

NEW LOCATION - LE WINDSOR BALLROOM (1170, Peel St)

Industry's largest annual networking reception in Montréal attended by 600 real estate executives.

 

Tuesday, April 1, 2014

 

7:15 a.m.

REGISTRATION & LIGHT BREAKFAST

 

8:00 a.m.

INTRODUCTION

Mario Lefebvre

 

 

 

 

 

Mario Lefebvre, President & CEO, UDI Québec

 

WELCOME & OPENING REMARKS

 
Claude Sirois

 

 

 

 

 

Claude Sirois, Co-Chief Operating Officer & Executive Vice President, Québec, Ivanhoé Cambridge

8:05 a.m.

THE OUTLOOK FOR THE MONTRÉAL ECONOMY FOR 2014 AND BEYOND

 

An insightful presentation on the economic fundamentals that are driving the Canadian economy in general and the performance of Quebéc and Montréal in particular. What is the outlook in 2014 and beyond for employment and population growth, inflation, interest rates, and commodity prices? What sectors are driving job creation in Montréal? What should we be watching for? How do the prospects for Montréal compare with other major Canadian cities? How does the forecast for Quebéc compare with the rest of Canada and global markets? Are the recoveries in the United States and Europe now sustainable? How will these trends affect Canada?

Clément Gignac

 

 

 

 


Clément Gignac, Senior Vice President & Chief Economist, Industrial Alliance Insurance and Financial Services Inc.

8:35 a.m.

HOW IS THE MONTRÉAL REAL ESTATE MARKET PERFORMING?

 

An overview of the performance of the office, industrial, retail, and multi-unit residential markets in Montréal over twelve months. How much development activity has there been? Where are vacancy rates and cap rates trending at this time? What are the major demographic, capital, and investment factors influencing the market? What is the outlook for 2014 and beyond?

Marie-France Benoit Sylvain Leclair

 

 

 

 

 

Marie-France Benoit, Senior Director, Altus InSite, Division of the Altus Group
Sylvain Leclair, Executive Vice President, Québec, Altus Group

For presentation, please email marie-france.benoit@groupealtus.com

9:00 a.m.

MONTRÉAL’S COMPETITIVE EDGE AS A KNOWLEDGE-BASED ECONOMY: WHAT IS THE VISION THAT WILL CREATE GROWTH IN THIS MAJOR CITY?

 

What is the vision that will drive the evolution of Montréal in an increasingly global economy and enable it to compete effectively for investment and prominence? The city offers a high quality of life, and the most competitive operating costs of all North American metropolitan areas. Businesses are attracted with financial and tax credits for investment, R&D, job creation, and training. Montréal also has a leading reputation for creativity and innovation. These strengths have made the city a hot spot for life sciences, aerospace, and information and communications technology. As the cultural capital of Canada, Montréal is an incubator for top talent in circus entertainment and boasts an international-calibre film industry that is the envy of the rest of the country. Coupled with this is a large-scale plan reflecting the city’s commitment to active transportation and public transit with over 175 infrastructure projects valued at $16.5 billion. Two elements found in many of today’s successful cities are a broad range of strong economic drivers coupled with a vibrant population and culture that inspires and attracts an intellectual market of residents. These two presentations will examine what strategies Montréal is pursuing to stimulate and manage further growth and development going forward. What does the city need to do to continue to grow and prosper?

Marie Grégoire Mayor Denis Coderre Dominique Anglade

 

 

 

 



Moderator:
Marie Grégoire,
Vice President & Senior Partner, TACT Intelligence-conseil

Mayor Denis Coderre, City of Montréal

l

Dominique Anglade, President & CEO, Montréal International

10:00 a.m.

MORNING REFRESHMENTS

 

10:30 a.m.

CONCURRENT SESSIONS (Select A1, A2 or A3)

 
Session A1
OPPORTUNITIES AND CHALLENGES IN THE MONTRÉAL OFFICE MARKET: IS IT HEADING TOWARDS TENANT FAVOURABLE CONDITIONS?

This session will examine several major aspects of the Greater Montréal Area office market. Discussion will begin with some insights into corporate real estate expectations in today’s environment. How are accessibility to knowledge workers, transit, flexible workplaces, and quality of life considerations being balanced against location, costs and newer buildings? How are the downtown, midtown and suburban markets competing with each other? What are the tenants looking for in each of these sub-markets? How are new office developments reflecting the changes in occupant priorities? How strongly is LEED certification and greener buildings being embraced by owners? How much new space is the market able to absorb from both new buildings along with the millions of square feet of former industrial space that has been converted to office? How large is subleasing market? At what pace is it growing? Are we now heading into tenant favourable conditions? Where are vacancy rates, cap rates and other underlying leasing and investment fundamentals heading at this time? What will most likely occur in this market in 2014 and beyond?

Andrew Bissett Lloyd Cooper Richard Hylands Sal Iacono Julie Martineau

 

 

 

 

 

Moderator:
Andrew Bissett,
Executive Vice President & National Director, Jones Lang LaSalle

Panel:
Lloyd Cooper, Vice Chairman, Montréal, Cushman & Wakefield Ltd.
Richard Hylands, President, Kevric Real Estate Corporation
Sal Iacono, Senior Vice President, Development and Portfolio Management, Eastern Canada Portfolio,
The Cadillac Fairview Corporation Limited
Julie Martineau, Vice President, Office Leasing - Québec, Ivanhoé Cambridge

Session A2
DEBT FINANCING: WHERE ARE SPREADS HEADING? WILL IT CONTINUE TO BE ACCESSIBLE OR WILL IT PLAY HARD TO GET?

A panel discussion will focus on the debt market and examine what borrowers can expect for the remainder of 2014 and beyond. What impact are the Bank of Canada, Minister of Finance and OFSI’s concerns having on the lending practices of major banks? Are significant amounts of capital still attracted into the real estate? Are they finding accessibility through mortgage investment funds and secondary markets? Are pension funds attracted to some of the lending opportunities? What underwriting criteria are lenders in Montréal using in 2014? How are they assessing potential deals and pricing them? Are there any property classes that they are avoiding or reducing their exposure to? How available are mezzanine financing and other secondary sources of debt? How are they being priced? Discussion will also briefly examine construction financing for condominiums and loans for smaller assets and smaller projects. How concerned are lenders about the housing market?

Pierre Leduc René Demers Vince Faustini Nicolas Mastandrea Andrée Roy Lyne Roy Payette

 

 

 

 



Moderator:
Pierre Leduc,
Vice President, Capital Markets, Colliers International

Panel:
René Demers, Associate Vice President, Real Estate Financing, National Bank
Vince Faustini,
Senior Director, Québec, Equitable Bank
Nicolas Mastandrea, Vice President, Murray & Company Real Estate Advisors Inc.
Andrée Roy, Regional Director - Québec & Eastern Canada, Otéra Capital


Lyne Roy Payette, Vice President, Commercial Mortgages, Desjardins Asset Management


Session A3
INDUSTRIAL REAL ESTATE MARKET: IN WHAT DIRECTION ARE DEVELOPMENT, LEASING AND INVESTMENT TRENDS HEADING?

Last year was one of the best for the Montréal industrial market with cap rates continuing to compress and occupancy levels rising.The session will open with a brief overview on current and projected investment trends, and vacancy and absorption rates in industrial real estate in the Greater Montréal Area. 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). Is new demand for industrial space growing and if so in which locations? Why are industrial assets attracting a wide spectrum of very strong investor interest? From whom and at what prices? Is the only development activity tenant initiated? What does the future hold for the older industrial properties that do not easily meet the needs of today’s users? 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 over the next 12 months?

Yves Roy Michel Cohen Roberto Giglio Gil Kastner Michael Mikelberg Richard Stern

 

 

 

 

 

Moderator:
Yves Roy, Executive Vice President, Newmark Knight Frank Devencore

Panel:
Michel Cohen, President, Vista Properties
Roberto Giglio, Director of Leasing, Bentall Kennedy (Canada) LP
Gil Kastner,
Vice President, Leasing & Business Development, Landmark Properties Inc.
Michael Mikelberg, Managing Partner, The Luger Group
Richard Stern, Principal, Olymbec Corporate Group

11:30 a.m.

CONCURRENT SESSIONS (Select B1, B2 or B3)

 
Session B1
THE DYNAMIC MONTRÉAL RETAIL MARKET: URBAN FORMATS, SUBURBAN DEVELOPMENT, INVESTMENT ACTIVITY, LEASING TRENDS

This session will examine the Greater Montréal retail market from the perspective of investors, developers, tenants and consumers. How is the supply and demand balance at this time with respect to the various types of retail formats being offered, tenant interest in this market, and consumer spending trends? What has been the impact of suburban retail projects like Quartier 1030? Are new urban retail formats emerging as a result of condominium and mixed-use projects in downtown Montréal? Will the revitalization of St. Catherines Street begin with the major projects by Angus Development, FTQ and Canderel? What plans do other retail owners have with respect to new projects or upgrading their existing properties? What new retailers have entered or are coming into this market? Are there any particular formats and development innovations growing in popularity? How many investment transactions are likely over the next twelve months? How is the leasing market absorbing the new space? Is there any evidence of an impact from online shopping?

Jean-François Grenier Guy Charron Éric Foster Michal Kuzmicki Jim Murdoch

 

 

 

 

 

 

Moderator:
Jean-François Grenier,
Senior Director, Altus Group

Panel:
Guy Charron,
Executive Vice President, Operations - Retail, Cominar REIT
Éric Foster,
Partner & Senior Vice President, Leasing & Marketing, Carbonleo
Michal Kuzmicki, Managing Partner, Brookfield Financial


Jim Murdoch, President, Real Estate Services, Oberfeld Snowcap Inc.

Session B2
MIXED-USE DEVELOPMENT AND INTENSIFICATION IS PROJECTED TO BE THE TOP TREND IN CANADIAN CITIES IN 2014: HOW IS MONTRÉAL FARING?

The trend to 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 the changes that the urban fabric of Montréal is undergoing, and wide range of real estate development activity that the city is continuing to experience. What type of innovative projects and city building are emerging in the inner city areas? What is the profile of their target groups? 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?

Tom Godber Michael Broccolini François Lacoursière Pierre Laliberté Stéphane Tremblay

 

 

 

 

 

 

Moderator:
Tom Godber,
Principal, Avison Young Québec

Panel:
Michael Broccolini,
Vice President, Business Development & Finance, Broccolini Construction Inc.
François Lacoursière, Executive Vice President, Senior Partner, Sid Lee
Pierre Laliberté, Senior Real Estate Consultant, Altus Group
Stéphane Tremblay, Vice President, Real Estate Development, IBI/DAA GROUP

Session B3
HOW DO YOU REPOSITION OLDER BUILDINGS TO COMPETE WITH NEW GREEN DEVELOPMENTS? WHY IS THE MIDTOWN SUBMARKET ATTRACTING TENANTS?

All new office development in today’s market is being designed with high levels of LEED certification in mind. However, new construction still only represents1% of the building stock. What are the options facing the remaining 99% of buildings with respect to their ability to be competitive in this market? This session will examine three specific trends that can respond to the impact of new green buildings. Initial discussion will focus on some 5 million sq.ft. of former industrial space that has been converted to office space ideal for high technology, gaming and communications/advertising firms. What are the key dynamics of what is commonly referred to as “the brick and beam” market? Secondly, why is the midtown submarket morphing into an office hub? This is a new kind of office district emerging midway between downtown Montréal and the suburbs on and off the island. What role is easy access to public transit and quality of life attributes playing in this trend? Finally, what steps can owners of existing buildings take to improve the operational efficiencies of their properties and to ensure that their space remains competitive in the market? What can you do with challenged properties to maintain tenants and improve their attractiveness?

André Plourde Martin Galarneau Peter Picciola Gideon Pollack Natalie Voland

 

 

 

 

 

Moderator:
André Plourde,
President, Groupe immobilier (Montréal . Québec)

Panel:
Martin Galarneau,
Partner & Vice President for Corporate Affairs and Development,
Thibault, Messier, Savard et Associés inc.
Peter Picciola, Vice President, Office Leasing, Québec, Ivanhoé Cambridge
Gideon Pollack, Vice President, Business Development, Claridge Inc.
Natalie Voland, President, Gestion immobilière Quo Vadis

12:30 p.m.

LUNCHEON SPONSORS

 

 

LUNCHEON REFRESHMENTS

 

1:20 p.m.

PRESENTATION OF THE IDU QUÉBEC AWARDS OF EXCELLENCE

1:35 p.m.

LUNCHEON PRESENTATION

LUNCHEON PRESENTATION FROM A VETERAN URBAN PLANNER: OVERVIEW OF SOME MAJOR PROJECTS THAT ARE RESHAPING MONTREAL

Claude Marcotte

 

 

 

 

Claude Marcotte, Executive Vice President, Development and Construction, Carbonleo

2:20 p.m.

CONCURRENT SESSIONS (Select C1, C2 or C3)

 
Session C1
THE FACTS AND FALLACIES ABOUT THE CONDOMINIUM MARKET IN 2014: IS IT COOLING DOWN? WHAT IMPACT ARE CONCERNS HAVING ON LAND PRICES?

The session will bring some clarity to the condominium market in Montréal. To what extent are sales and demand softening? How strong are pre-sales? Is it likely that prices may fall by up to 5%? Discussion will open with a brief overview of transaction volumes, values and trends in condominium activity across Montréal which has been the sixth largest market in North America. Is there a danger that this part of the housing market will be overbuilt? Or are the condominiums an effective response to affordability? What have been the major reasons for the growth of this market segment? Are those factors still valid? What will be required in order for this trend to continue throughout 2014? Who will be the most active buyers? The panel will also examine land prices and transactions. Is interest in acquiring sites for new projects and redevelopment still very strong? Are the economics supporting mixed-use development still in place?

Brian Ker Mathieu Collette David Owen Jacques Vincent Christian Yaccarini

 

 

 

 


Moderator:
Brian Ker,
Vice President, National Investment Team, CBRE Limited


Panel:
Mathieu Collette,
Director, Condo Market Study, Altus Group
David Owen, President, Mondev Construction
Jacques Vincent, President, Prével
Christian Yaccarini, President & CEO, Société de développement Angus


Session C2
THE REVITALIZATION OF MAJOR COMMERCIAL ARTERIES AND A CASE STUDY OF SAINTE-CATHERINE STREET

This session will examine the challenges and opportunities for owners, business people, tenants and the City of Montreal, regarding the management approach used in carrying out major development and infrastructure works especially along key commercial arteries. What winning conditions are required to perform the work successfully and maximize the benefits of these investments? Several avenues and solutions will be presented by a cross section of stakeholders who are involved. Discussion will also focus on specific activities on Sainte-Catherine Street.

Louise Boutin Jean-Christophe Bédos Anne Boivin Johanne Leclerc

 

 

 

 


 

Moderator :
Louise Boutin,Past President, CREW Montréal; Associate, Langlois Kronström Desjardins LLP

Panel :
Jean-Christophe Bédos, President & CEO, Birks Group Inc.
Anne Boivin, Head Manager, Projects, Transportation, City of Montréal
Johanne Leclerc, Vice President, Operations - Québec, Ivanhoé Cambridge


Session C3
INVESTMENT IN MONTRÉAL: WILL LAST YEAR’S STRONG INTEREST CONTINUE IN 2014? WHO WILL BE THE BUYERS AND WHAT WILL THEY BE LOOKING FOR?

An insightful discussion about investment activity in the Montréal market. The session will open with a brief overview of some of the bellwether transactions over the past twelve months. The panel will address a range of questions including: What have been the major challenges to buy assets in this market? What are the differences between the issues faced by an institutional investor vs. a private equity fund vs. a REIT in acquiring properties at this time? Are the public buyers constrained by double digit drop in unit values in the second half of 2013? Have they been replaced by stronger interest among institutional and private buyers? Are we still at a point where there is too much cash trying to enter the real estate market? Where are cap rates likely to be heading by the end of 2014 relative to today’s prices? Which property classes are strongly favoured and will likely offer the best returns? Is it possible to create value from acquiring out-of-favour sites and properties and seeing something that no one else does? How do the investment trends in Montréal compare with other major Canadian markets?

Armand Des Rosiers Sylvain Charpentier Wayne Jacobs Rob Kumer Jean Laramée

 

 

 

 

 

 

Moderator:
Armand Des Rosiers,
Managing Director, RBC Capital Markets Real Estate Group

Panel:
Sylvain Charpentier,
Head Manager, Real Estate Investments, Hydro-Québec Pension Fund
Wayne Jacobs, Executive Vice President, Acquisitions & Asset Management, Allied Properties REIT
Rob Kumer, Partner, KingSett Capital
Jean Laramée, Senior Vice President, Québec Real Estate Capital, Ivanhoé Cambridge

 

AFTERNOON REFRESHMENTS

3:30 p.m.

EXECUTIVE ROUNDTABLE DISCUSSION: THE FINAL WORD

ASSESSING THE CHALLENGES, STRATEGIES AND OPPORTUNITIES FOR 2014 AND BEYOND FROM THE PERSPECTIVE OF REITS, PENSION FUNDS AND PRIVATE OWNERS

 

A discussion with senior real estate and institutional executives as they provide their perspective on real estate market fundamentals for 2014 and beyond. They will also offer their insights on what they see occurring over the next twelve months, and their strategic thinking going forward. Among the other questions to be examined:

  • What are the key challenges, trends, and risks facing investors, owners and developers of office, retail, industrial and multi-unit residential properties in the Montréal market?
  • Are the political issues of the past few years still having any impact or not?
  • Where are we now in the cycle? Is there still too much cash chasing yield and real estate? Is there much of a disconnect between investment activity and leasing fundamentals? What can be expected with respect to investment velocity and deal flow over the next year?
  • What are the key differences in strategies facing REITs vs. pension funds vs. private equity investors?
  • What asset classes and transactions will likely offer the best possible returns in 2014?
  • Given the extent of development activity in Montréal, is the market potentially overbuilt?
  • Do you foresee any issues with the debt and capital markets over the next twelve months?
  • How do you achieve growth in office, retail or industrial rental rates in this market?
Claude Sirois Normand Bélanger Michel Bouchard Vincent Chiara Sylvain Cossette Daniel Peritz

 

 

 

 


Moderator:
Claude Sirois,
Co-Chief Operating Officer & Executive Vice President, Québec, Ivanhoé Cambridge

Panel:
Normand Bélanger,
President & CEO, Fonds immobilier de solidarité FTQ
Michel Bouchard, Co-Chief Operating Officer, The Redbourne Group
Vincent Chiara, President, Groupe Mach Inc.
Sylvain Cossette, Executive Vice President & COO, Cominar REIT
Daniel Peritz, Senior Vice President, Montréal & Ottawa, Canderel Management

4:30 p.m.

NETWORKING RECEPTION

   

 

 

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