Thursday, DECEMBER 5^th

Introductions:
Ed Sonshine, President & CEO, RioCan Real Estate Investment Trust
Gary Whitelaw, President, Bentall Capital/Penreal Capital Management

Closing Remarks:
Thomas McCarthy, Vice Chairman, J.J. Barnicke Limited Insignia

Strategic Challenges Facing Real Estate Executives and Organizations Today

A senior real estate executive with 27 years of experience in Canada and the United States will offer his insights on the major issues and trends on both sides of the border, and how the largest U.S. real estate organization is addressing these challenges. 

Bruce Duncan, President of Equity Residential, the largest U.S. apartment REIT with interests in 1,056 properties consisting of 226,711 units.  Equity Residential is part of Equity Group Investments L.L.C.  Chaired by Samuel Zell, Equity is the largest real estate organization in the United States.  From 1995 through 2000, Bruce served as Chairman, President and CEO of Cadillac Fairview Corporation Limited.

Canadian Economic and Financial Trends: The Bank of Canada’s Perspective

A presentation by the Bank of Canada’s second most senior governor.  What is the Bank of Canada projecting for 2003 in terms of economic and financial trends?  How sustainable is our country’s current economic growth and rate of inflation?  What will be the likely direction for monetary policy in the short and medium term?

Malcolm Knight, Senior Deputy Governor,
The Bank of Canada

TOPIC A1:

THE DOWNTOWN OFFICE MARKET ACROSS CANADA

An examination of the emerging trends in downtown office markets in major centres across the country.  How do major owners and investors feel about this asset class at this time?  What have been some of the most significant transactions? Where are rental rates and leasing trends heading?  How long will the disconnect continue between rental rates and investment pricing? What’s the outlook for future supply and demand trends?  What are examples of some of the best opportunities in specific markets across the country?  A senior official will also discuss the federal government’s real estate strategies, and what the implications could be for downtown markets in Ottawa as well as other major cities. 

Moderator:
Geoff Harrison, President, O&Y Enterprise
 

Panel:
David Arthur, President & CEO,
Brookfield Properties Inc.
Paul Campbell, President & CEO, SITQ
Rob Hawkins, President, Redcliff Realty Advisors Inc.
Michael Latimer, Managing Director,
Borealis Capital Corporation
Tim McGrath, Director General,
Office Accommodation/Real Estate Services,
Public Works & Government Services Canada

John Sullivan, Senior Vice President, Office Development, Cadillac Fairview Corporation Limited 

TOPIC A2:

EMERGING TRENDS IN THE INDUSTRIAL REAL ESTATE MARKET

A panel of owners and developers will explore the top industrial markets in Canada and examine the latest trends in this asset class.  They will discuss vacancy and absorption rates and the hottest new products.  Will the growth and popularity of this sector continue? Given the popularity of this asset class, do any opportunities for investment and development still remain?  How do major owners and investors feel about this sector across Canada at this time? 

Moderator:
Jim McIntosh, President,
Eastern Canada, Colliers International
 

Panel:
Mitch Abrahams, Executive Vice President, Eastern Canada, GWL Realty Advisors
Paul Dykeman, Senior Vice President & CFO,
Summit REIT
Phil Gillin, Vice President, Real Estate,
Sun Life Assurance Company of Canada
Marvin Marshall, Chairman & CEO, Internorth Construction Company
Larry Mason, President,
Remington Development Corporation

TOPIC A3:

DEVELOPING & FINANCING NEW RENTAL HOUSING: WHAT YOU NEED TO KNOW 

New rental housing projects are planned or under construction in Montreal, Ottawa, Toronto, Calgary, Edmonton and Vancouver. After years of little activity, what’s feeding the demand for this product?   The session will open with a CMHC national rental overview that will indicate where the markets are heading and potential future trends.  This will be followed by a panel discussion that will examine  key questions such as  what strategies are being used to achieve the highest possible rent level; and what type of mezzanine, construction and long-term financing is available for these projects.  This session will provide some clearer understanding of this unique growing market opportunity.

Moderator: 
Derek Lobo, President, Derek A. Lobo & Associates

Panel: 
Peter Cook, Assistant Vice President, Commercial Lending, First National Financial Corporation
Wanda Dorosz, Chairman & CEO,
The Quorum Group of Companies
David Podmore, President & CEO,
Concert Properties Ltd.
Calvin Younger, Senior Vice President, Central Canada Real Estate and Advisory Services, CIBC World Markets
 

TOPIC A4

OPPORTUNITIES IN SMALLER MARKETS IN ONTARIO AND ACROSS CANADA

Most investment real estate attention appears to be focused on six major urban centres in Canada.  But what about other cities, as well as midsized and smaller markets across the country?  This session will focus on the investment and development opportunities for the commercial, industrial, and retail sectors in Atlantic Canada, Saskatchewan, Alberta and smaller communities across Ontario. 

Moderator:
Peter Brady, Chair, Ontario Commercial Council,
Ontario Real Estate Association

Panel:
George Borovilos, Secretary Treasurer,
Economic Development Council of Ontario
 
John Gilvesy, President, Gentrac Building Corporation
Brian Otis, Vice President, Otis Group of Companies
Michael Zakuta, Vice President,
Plazacorp Retail Properties Ltd.
 

MORNING REFRESHMENTS

TOPIC B1

EMERGING RETAIL REAL ESTATE TRENDS: WHAT’S REALLY HOT?

The Canadian retail sector during the 1990's was characterized with the emergence of more Power Centres and other forms of megastores, an increasing number of bankruptcies and consolidations, and a decreasing base of tenants. This session will examine the key trends in the Canadian retail sector today.  Has all the significant leasing and development activity moved away from the regional shopping centre?  Where are the major trends with respect to new tenants, new products and new retailing concepts?  The focus will be on emerging retail opportunities in urban markets across Canada. 

Moderator:

John Haire, Vice President & General Manager,
Royal LePage Commercial Inc.
 

Panel:
Bill Gregson, President & COO, The Forzani Group Ltd.
John MacNeil, President, First Pro Shopping Centres
David Margolis, President & CEO,
Winners Apparel Limited
Nick Sabat, Senior Vice President,
Bentall Real Estate Services
Fred Waks, Senior Vice President & COO, RioCan REIT
Sam Winberg, President, Northwest Atlantic Inc.
 

TOPIC B2

THE OUTLOOK FOR THE SUBURBAN OFFICE MARKET: IS IT CHANGING?

Conditions for the suburban office market were relatively strong over the past decade, but what is the outlook now?  What are the key trends that are now emerging in the six major urban centres? What suburban products are likely to remain the strongest? To what extent will the “tech wreck” of the past few years continue to plague this sector during the foreseeable future with higher vacancy rates and subleasing activity? A panel of developers and investors will explore suburban office development, investment and leasing trends across Canada.   

Moderator:
Colin Loudon, Partner-in-Charge of Real Estate Practice, KPMG 

Panel:
Michael Knowlton, Executive Vice president & COO, Dundee Realty Corporation
Sandra Levy, President & CEO, Liberty Sites Ltd.
Joe Nestic, Senior Vice President,
Menkes Developments Inc.
Steve Taylor, President, Asset Management,
Morguard Investments Limited

Gordon Thompson, Senior Vice President, Ontario Region, Oxford Properties Group Inc.

TOPIC B3

FINDING HIGH VALUE OPPORTUNITIES IN A COMPETITIVE MARKET

This session will examine one of the most dynamic elements in real estate today: acquiring out-of-favour sites and properties and capitalizing on these unique market opportunities.  Investors who are active in this area have the ability to see something that no one else sees.  They can take a property that does not fit the mold, lease it up and reposition it.  Or they can buy it right and flip the property.  In most instances, these are highly-leveraged deals with high risks that can also offer high returns.  The panel will discuss some of the keys to success for these types of value focused strategies.    

Moderator:

Chris Ridabock, President and COO,
J.J. Barnicke Limited Insignia

Panel:
Frank Camenzuli,  Principal, Caber Capital Inc.
Robert Julien, President, Kolter Corporation
Katherine Lee, Managing Director,
GE Real Estate

Sam Reisman, Chairman & CEO,
The Rose Corporation

 

TOPIC B4

FOCUS ON TORONTO: THE $12 BILLION WATERFRONT STRATEGY,  UNION STATION, AND THE IMPACT OF THE CITY’S NEW OFFICIAL PLAN ON DEVELOPMENT

This session will focus on the potential for real estate development and investment within the City of Toronto. The first presentation will examine the city’s new Official Plan and its implications for real estate activity in Toronto.   This will be followed by a discussion on the $12 billion development strategy for the Toronto waterfront, and the potential opportunities for real estate development and investment within this plan. The final presentation will examine the proposed Light Rapid Transit Network for the Greater Toronto Area and the implications of this private-sector initiative in addressing the transportation needs across the commutershed by providing two-way service along rail and hydro corridors. 

Moderator:
Don Fitzpatrick, Partner & Real Estate Sector Head,
Deloitte & Touche LLP
 

Panel:
Paul Bedford, Executive Director, Planning & Development ,City of Toronto

Robert Fung, Chairman,
Toronto Waterfront Revitalization Corporation
David McFadden, Chairman, GTA LRT Consortium
 

PENSION FUNDS AND REITs IN CANADA: TWO ROUNDTABLE DISCUSSIONS ON LIQUIDITY & OPPORTUNITIES

Two panels will close the Forum with a strong strategic discussion.   The first roundtable will feature senior investment executives representing the most significant pension funds with active positions in the Canadian real estate market. Among the issues that the panelists will discuss will be their respective funds investment strategies for 2003 and beyond, i.e. what are they buying, why are they buying it; asset allocation strategies; benchmarking and other policies towards the ICI real estate market.  The second panel will be comprised of senior executives from leading Canadian REITs who will examine key issues and trends within their sector and how REITs will address some of the anticipated challenges that will be appearing for these organizations on the horizon.

Moderator:
Gary Whitelaw, President, Bentall Capital/Penreal Capital Management

The Pension Funds:
Michael Catford, Vice President, Real Estate, HOOPP
Leo de Bever, Senior Vice President, Research & Economics, Ontario Teachers' Pension Plan Board
Paul Finkbeiner, President,
GWL Realty Advisors Inc.
Tom Gunn, Senior Vice President, Investments, OMERS
Fernand Perreault, Executive Vice President,
CDP Group, and President, CDP Real Estate 

Moderator:
Ed Sonshine, President & CEO,
RioCan Real Estate Investment Trust 

The REITs:
Kenny Gibson, President, Innvest REIT
Lou Maroun, President & CEO, Summit REIT
Tom Schwartz, President, CAP REIT

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