As 2008 begins, Canadian real estate executives are dealing
with some significant uncertainty as a direct result of the
impact of the credit market fallout triggered by the
demise of the U.S. subprime mortgage markets.
With the disappearance of most CMBS activity, 30% or more of the
sources of debt capital have vanished virtually overnight. High leverage and non-recourse lending has been replaced by
more conservative underwriting and a widening of spreads as
risk is re-priced by the remaining active lenders.
What impact will this higher cost of capital have on cap
rates, asset values and transaction activity in the coming
year?
The 2008 RealCapital conference will focus on these
key issues and trends by bringing together owners and
investors with sources of public and private equity
investment and debt financing in the Canadian real estate
market.
The program will provide a unique, high-level business forum
that will examine these themes, address key issues, assess
emerging trends, and discuss effective strategies for real
estate investment and financing for office, industrial,
retail, and multi-residential sectors in the current
environment across the country.
Some 500 executives from across Canada are expected to attend
this special one-day conference, organized by the Real
Property Association of Canada and York Communications /
MMPI, the producer of the Real Estate Forums.
In keeping with the strong reputation of the forums,
RealCapital will present high-quality speakers on very
topical issues at a relatively low registration fee.
The conference will also provide a great opportunity to
network with experts and decision-makers responsible for
real estate investment and financing today.
We hope
that you will take advantage of this unique and very
informative event.
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Andrew Phillips
Managing Director
Investment Banking
TD Securities Inc.
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Karen Weaver
CFO
First Capital Realty
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