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Simultaneous Interpretation in All Sessions!
Most PowerPoint Presentations will be Available!
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| 7:15
a.m. |
Registration
and continental Breakfast
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| 8:00
a.m. |
OPENING SESSION |
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Welcome & Opening Comments
Philip O'Brien,
Director, Viger DMC International Inc.
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| 8:05
a.m. |
KEYNOTE PRESENTATIONS: |
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ECONOMIC
OVERVIEW FOR MONTREAL: THE OUTLOOK FOR 2008 AND BEYOND
A
presentation on the economic outlook and performance of Montreal for 2008 and
beyond.
What are the prospects for employment growth in the Montreal area? What will be
the residual impact of the credit market issues on the Canadian economy and the
cost of capital? Will the rate of inflation
increase as a result of rising energy costs and other factors? Where are
Canadian interest rates, currency values and bond yields heading?
Clément Gignac,
Senior Vice President &
Strategist, National Bank Financial Inc.
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8:30 a.m. |
HOW IS THE MONTREAL REAL
ESTATE MARKET PERFORMING? |
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An
overview of the performance of the office, industrial, retail, multi-unit
residential and condominium markets over the past year. How much development
activity has there been? Where are vacancy rates and cap rates at this
time? What are the major demographic, investment and economic factors
influencing the market? What is the outlook for 2008?
Michel Bouchard,
Executive Vice President,
Strategic Advisory Services, Altus Group
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9:00
a.m. |
WHAT ARE SOME OF THE ENGINES OF THE ECONOMIC THAT ARE PROPELLING MONTREAL’S
GROWTH? HOW CAN THIS CITY RISE TO THE NEXT LEVEL OF NATIONAL AND GLOBAL
RECOGNITION? |
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Two essential elements found in many of today’s successful cities are a
diversified range of strong economic drivers coupled with a vibrant population
and culture that inspires and attracts an intellectual market of residents. In
an increasingly global economy, Montreal must compete against other cities
across Canada and around the world for investment and prominence. Has Montreal
reached a level of growth and recognition that places it competitively on the
global stage with major cities? What industries and economic engines are driving
job creation in this city?
Since the real estate industry is at the receiving end of the market, it needs
to understand these trends in order to respond with the appropriate products.
This session will examine several major elements of Montreal’s economy that may
not be seen by the average person.
Why is Montreal a leading centre for science and research in Canada?
What is attracting world class scientists to this city, resulting in a “brain
gain” rather than a “brain drain”?
Dr. David Colman, Director,
The Montreal Neurological Institute
Why is Montreal a global centre for corporate head offices in the
transportation, energy, water resources and manufacturing sectors?
Jean-Luc Trahan,
President & General Manager,
Quebec Manufacturers & Exporters
How significant has venture capital investment been in the multimedia industry
in Montreal? Why have electronics companies flourished in this market?
Pierre Root, General Manager,
TechnoMontreal
To what extent is Montreal considered an international destination point for
urban tourists interested in high quality cuisine, unique festivals and culture?
Charles Lapointe, President & CEO, Tourism Montreal
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10:00
a.m. |
MORNING REFRESHMENTS |
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10:25
a.m. |
CONCURRENT SESSIONS (Select
A1, A2, or
A3)
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Session A1
THE MONTREAL DOWNTOWN & SUBURBAN OFFICE MARKETS: THE LANDLORD AND TENANT
PERSPECTIVES
The Montreal downtown office market has witnessed significant strength during
the past year. At the same time, landlords and tenants are watching with
interest the announcement and completion of some major new office projects
including Bell Canada’s development on Nun’s Island, the SITQ/Hines green office
building under construction on De Maisonneuve Boulevard, and the recently
announced Phillips Square mixed-use project in the core. What will be the impact
of these projects on the Montreal office market? What are the priorities of
tenants in this tightening market; are they pushing for greener buildings and
environments? How innovative are they prepared to be in their leasing programs?
Do they have a strong preference for older buildings vs. new buildings or
downtown space vs. suburban locations? What are the most important criteria in
their leasing decisions?
Moderator:
Tom Godber, President,
Avison Young, Quebec Inc.
Panel:
Yves-André Godon, Managing Director, Canada, SITQ
Eric Haggar, Associate Director, Montreal Campus Project Lead,
Bell Real Estate Services
Peter Picciola, Executive Director, Development & Leasing,
Canderel Management Inc.
David Reckziegel, Co-President, Seville Pictures Inc.
Session A2
PUBLIC-PRIVATE
PARTNERSHIPS: WILL P3s EVER FLOURISH IN QUEBEC?
With
the exception perhaps of Alberta, governments at all levels across Canada are
finding themselves financially challenged to deal with the ongoing capital
requirements of new and existing public sector infrastructure (transit, roads,
waterworks, public utilities, schools, hospitals, and other institutional
buildings). This session will examine the current status of Public-Private
Partnerships (P3s) in Quebec, and what it will take for P3s to receive greater
political acceptance as a practical means of risk transfer, capital financing,
and service delivery. What is the definition of a P3 in real estate terms?
What does it means for Quebec-based real estate developers and investors? What
real estate related P3 projects have been undertaken to this point? Which
segments of the market are most feasible for P3s? Over and above large scale
initiatives such as mega hospitals and the OSM concert hall project, will
there be any P3 opportunities for commercial projects of up to $50 million in
value?
Moderator:
Johanne Mullen, Senior Vice President & Director,
PricewaterhouseCoopers LLP; President,
Institute for Public Private
Partnerships for Quebec
Panel:
Richard Abboud, President,
Forum Leasehold Partners Inc.
André Pelchat, President,
Immostar Inc.
Érik Richer Laflèche, Partner,
Stikeman Elliott LLP
Session A3
THE INVESTMENT ROUNDTABLE: WHAT DOES THE FUTURE HOLD FOR
TRANSACTIONS IN THE MONTREAL MARKET?
In
2007, office, retail, industrial, hotel, and multi-unit residential
properties in Montreal continued to enjoy excellent liquidity and at high
values. Real estate remained in strong favour relative to other asset
classes. But is that now about to change? What impact has the dramatic
change in the credit markets had on the cost of capital? How has this
situation affected values? This session will examine the performance of the
Montreal investment market in 2007 and the current and emerging outlook for
2008 and beyond. Who are the most active buyers? Who are the sellers? Which
product types are currently most favoured by investors? What have been some
of the most significant transactions? How do the trends in Montreal compare
with other major Canadian markets?
Moderator:
Daniel Peritz, Senior Vice President, Canderel Management Inc.
Panel:
Armand Des Rosiers, Managing Director,
RBC Capital Markets Real Estate Group
Jean-Louis Hamel, Managing Director,
Real Estate Investment Banking, CIBC World Markets Inc.
Michal Kuzmicki, Managing Partner,
Brookfield Financial Real Estate Group Limited
Brett Miller, Executive Vice President & Regional Director,
Eastern Canada, CB Richard Ellis Limited
Ron Smith, Vice President, Investment Sales,
Capital Markets Group,
Cushman & Wakefield LePage Inc.
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11:30
a.m. |
CONCURRENT SESSIONS (Select
B1, B2, or
B3) |
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Session B1
PRESENTATION OF LAC MIRABEL: AN INSIDE LOOK AT THE LARGEST NEW RETAIL
PROJECT IN CANADA
This session will
provide some unique insights into the Lac Mirabel project, designed to be a
major “green retail destination” in Canada. The $350 million development will
create a state-of-the-art retail-shopping complex constructed in harmony with
its surroundings. Being also the first newly developed indoor retail
entertainment destination in over 25 years in Quebec, this 14 million square
foot mixed-use property will offer a range of regional and specialty retailers,
restaurants, a European-inspired spa, luxury hotels, and a multi-sports complex
spanning 320 acres. Lac Mirabel is also being planned as a dynamic, friendly
development incorporating sustainable design principles to lessen harmful
environmental impacts. The developer’s goal is to ensure that retail and
community activities will be complementary within this dynamic and
environmentally conscious destination.
Introduction:
Jim Murdoch, Managing Director, Canada, Oberfeld
Snowcap Inc.
Speaker:
Sheldon Gordon, Chairman & CEO,
Gordon Group Holdings LLC
Session B2
THE GROWING INVESTOR INTEREST IN THE HOTEL SECTOR
Why
does there seem to be such an interest in hotel development in Montréal in
the past few years? Is this unique to Montreal? How does Montreal differ
from other markets such as Toronto and New York? Can you explain the
economics of hotel development today? How generally do the economics work
for your development or renovation/expansion? Is there a difference between
residential and commercial mixed use development that includes a hotel? Do
the capital structures of the hotels vary? If so how? Why have we not seen
Four Seasons, Shangri-la or a Mandarin come to Montreal as they have in
other North American cities? Is there a difference between downtown and
suburban hotel development?
Who are the owners/investors and operators today?
Moderator:
David Larone, Director, PKF Consulting (Canada)
Panel will include:
Nicolas Bilodeau, Senior Manager, Franchise Finance Hotels,
GE Capital Solutions
Philippe Gadbois, Senior Vice President, Sales & Marketing,
Atlific Hotels & Resorts
Jean-Yves Germain, President, CASOT Ltd.;
Co-President, Groupe Germain Inc.
Richard Payette, Regional Vice President, Eastern Canada,
Fairmont Hotels & Resorts
Session B3
FINANCING IN AN INCREASINGLY VOLATILE ENVIRONMENT: WHAT LIES AHEAD FOR
THE CREDIT MARKETS, CMBS, PRIVATE EQUITY AND OTHER SOURCES OF CAPITAL?
What are
the implications on real estate assets and portfolios of the recent and dramatic
changes in the credit markets over the past six months? The cost of capital has
dramatically changed. What has happened to the investor and financier’s risk
tolerance for real estate? How has it been re-priced in the market? How do these
market conditions affect values? What has been the impact on IPOs, acquisitions
and dispositions, development, investment, and financing decisions? With the
demise of CMBS activity, what has happened to debt financing? How can an
entrepreneur navigate through this changing market? What is the difference
between U.S. and Canadian experience? What is the outlook for credit and capital
availability for 2008 from both the public and private markets? How has all of
this affected the interest of the buyside and the capital markets appetite for
the real estate asset class?
Moderator:
Andrée Roy, Director, Investments,
Real Estate Financing, Cadim Inc.
Panel:
Guy Charette, Vice President,
Real Estate Financing,
Caisse de dépôt et placement du Québec
Renée Laflamme, Vice President,
Mortgage Loans,
Industrial Alliance Insurance & Financial Services Inc.
Katherine Lee, Managing Director,
GE Real Estate
Daniel Simunac, Head of Real Estate
Finance, Canada,
Allied Irish Banks, PLC
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| 12:35
p.m. |
LUNCHEON REFRESHMENTS |
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Luncheon |
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1:35p.m. |
PRESENTATION OF IDU QUÉBEC AWARDS OF EXCELLENCE |
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1:45p.m. |
A GLOBAL INVESTOR’S PERSPECTIVE
ON MONTREAL: WHY HAS HE INVESTED OVER $1 BILLION IN THIS MARKET OVER THE PAST
FEW YEARS? WHAT HAS ATTRACTED HIM TO THIS CITY? |
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Keynote Speaker:
Richard Homburg, Chairman & CEO, Homburg Invest
Inc.
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2:30
p.m. |
CONCURRENT SESSIONS (Select
C1, C2 or
C3) |
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Session C1
THE CHANGING
DYNAMICS OF THE MONTREAL INDUSTRIAL REAL ESTATE MARKET
The session will open with a brief overview of investment trends,
and vacancy and absorption rates in the industrial sector. Many of the off-island
markets (e.g. the South Shore and Laval), which had the strongest growth in
recent years, are now experiencing some of the challenges seen previously in
more mature markets closer to the city (e.g. St. Laurent, Pointe Claire,
Lachine, East End). Have the new areas of growth moved further west toward
Vaudrueil and further north toward Terrebone? What is the outlook for the
industrial sector over the next 12 months? What are the most significant
differences between off-island vs. on island industrial? Why is this product
enjoying sustained popularity among investors? Given the price of land, the cost
of construction and the rising cost of capital, how viable is new industrial
development?
Moderator:
Michael Mikelberg,
President & Managing Partner,
The Luger Group
Panel:
Yves Cloutier, Vice President, Investments,
ING Real Estate Canada LLP
Anne-Marie Dubois, Vice President, Leasing, Cominar REIT
Arnold Fox,
Senior Vice President, Colliers International (Quebec) Inc.
Richard Stern, Principal, Olymbec
Session C2
SPOTLIGHT ON FOUR UNIQUE REAL ESTATE PROJECTS IN THE
GREATER DOWNTOWN AREA
A significant amount of redevelopment and renovation projects are
underway in the inner city areas of Montreal. This session will examine four
examples of these innovative projects and the impact that they are or will have
on the downtown core and its fringe areas. The panel discussion will focus
specifically on: Canada Lands’ Société du Havre development; the $4 billion of
development that is centred around Viger; le Quartier des Spectacles; and
development of Radio Canada’s 1 million square foot site. What were the major
factors that have to the conceptualization of these projects? What will be the
results of these initiatives?
Moderator:
André Plourde, President,
Montreal Real Estate Group Inc.
Panel:
Vianney Bélanger, President,
COPRIM Inc.
Cameron Charlebois, General Manager,
Viger DMC International Inc.
Clément Demers, Director General,
Quartier international de Montréal
Guy Hébert, Assistant Director
General, City of Montreal
Mark Laroche, President & CEO,
Canada Lands Company
Sonia Trudel, Executive Director,
Real Estate Division,
CBC/Radio Canada
Session C3
THE GREENING OF NEW &
EXISTING BUILDINGS: IS THIS GROWING TREND CREATING VALUE FOR OWNERS &
TENANTS?
Interest in greening
new and existing buildings has grown significantly in Canada over the past
couple of years. This is especially true among private sector developers and
investors who have increasingly announced new projects that are seeking some
form of green related rating and certification.
What have been the major reasons for this surge in interest in making new and
existing buildings higher performance, more energy efficient and
environmentally enhanced? What are the key attributes of greener buildings? Is
tenant demand the main driving force behind this trend or has the business
case become more compelling? Does a green building create more value? This
session will provide a brief update on green building activity in Canada and
Montreal in particular, and where the market for this type of product is
heading. The panel will also examine the return on investment; increase in
building value, energy saving technologies, employee comfort, attraction and
retention; as well as increased productivity and reduced absenteeism.
Moderator:
Michel Bouchard,
Executive Vice President,
Strategic Advisory Services, Altus Group
Speakers:
Pierre Bergevin, President,
Facilities Management,
Cushman & Wakefield LePage Inc.
Guido Petinelli, Director,
Council Development,
World Green Building Council
Sylvain Pilon, Vice President,
Comercial & Industrial Sectors,
Ecosystem
Sylvain Thériault, Vice President,
Business Development,
Aecon
Group Ltd.
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3:20 p.m. |
REFRESHMENTS |
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3:30 p.m. |
EXECUTIVE ROUNDTABLE
DISCUSSION: HOW DO REAL ESTATE INVESTORS VIEW THE STRENGTHS OF MONTREAL? HOW
WOULD THEY ASSESS THE RISKS AND OPPORTUNITIES IN THIS MARKET FOR 2008 AND
BEYOND? |
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Senior
executives from a cross-section of real estate organizations will offer their
perspective on Montreal and discuss some of their current and future
strategies pertaining to real estate investment, asset allocation, and
development in this market. They will be joined by a speaker who will open the
session by providing a summary of some of the key themes that were discussed
throughout the day. He will also provide some strategic thinking on how
Montreal can move forward building upon its unique strengths that were
identified and discussed during the conference.
Among the other questions to be examined:
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Where is
the Montreal real estate cycle heading? Are properties fairly valued or over
valued?
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How have
the issues and challenges in the credit markets affected their investment and
development activity? How do they see this liquidity issue finally being
resolved?
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What
plans do they have with respect to portfolio investment, new development or
upgrading their properties in the Montreal market in 2008 or beyond?
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What are
the most significant challenges, trends, risks and opportunities for investors
and owners in the Montreal market?
Moderator:
Philip O’Brien, Director, Viger DMC International Inc.
Speaker:
Jean-Pierre Sablé, Partner, SECOR Consulting
Panel:
Paul Campbell, President & CEO, SITQ
Michael Emory, President & CEO, Allied Properties REIT
Joel Ospovat, President, Sandalwood Management
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| 4:30
p.m. |
ADJOURNMENT |
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Simultaneous Interpretation in All Sessions!
Most PowerPoint Presentations will be Available! |
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