7:15 AM - 4:00 PM

CLICK HERE TO VIEW PROGRAM FOR GLOBAL PROPERTY MARKET

6:00 PM - 8:00 PM

CHAIRS' OPENING RECEPTION

Canadian Room, Royal York Hotel

A two-hour opportunity for informal networking and meeting other delegates prior to the conference.

Sponsored by:

7:00 AM

Click here to download the Real Estate Forum brochure

REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM

INTRODUCTION OF FORUM CHAIRS'

Scott Addison, Executive Vice President, Eastern Canada, Colliers International
Moray Tawse, Vice President, Mortgage Investments, First National Financial LP

WELCOME AND OPENING REMARKS

David Podmore, Chairman & CEO, Concert Properties Ltd.
Andrea Stephen, Executive Vice President, Investments, The Cadillac Fairview Corporation Limited

8:15 AM

CHEAP DEBT DRIVES LIQUIDITY AND INVESTMENT ACTIVITY

Given the performance of the bond and equity markets this past year, the desperate search for higher yields and safety is driving many Canadian investors into commercial real estate. The opening presentation will examine whether this optimism is justified, how the fundamentals match up with capital flows, and what expectations can be for 2011 and beyond.

Paul Morassutti, COO, Altus Group
John O'Bryan, Vice Chairman, CB Richard Ellis Limited

8:45 AM

IF THE RECESSION IS REALLY OVER, THEN WHAT KIND OF RECOVERY IS THIS? WHAT IS THE OUTLOOK FOR THE U.S vs. CANADA?

Another year has passed and there is still no clear consensus on how the recession and the economy are unfolding in North America or globally for that matter. Some pundits feel that Canada was generally spared but that the United States faces a much longer winding road with considerably more deleveraging ahead. Others believe that major aftershocks are on the horizon for Canada as well. This session will feature two leading economists who will offer their insights and perspectives on the situation and conditions in North America and where we are heading for 2011. They will analyze each of the major fundamentals comparatively between Canadian and the U.S. markets, e.g. employment, GDP growth, bank rates, inflation, housing market, economic drivers.

Moderator:
Stuart Lazier, Managing Partner, Axia Corporation

Speakers:



David Hale, Founding Chairman, David Hale Global Economics

Avery Shenfeld, Chief Economist & Managing Director, CIBC World Markets Inc.

9:45 a.m

MORNING REFRESHMENTS

10:15 AM

HOW ARE PUBLIC COMPANIES GROWING THEIR OFFICE, RETAIL AND INDUSTRIAL PORTFOLIOS IN THIS MARKET AND ECONOMY?

An informative discussion with the CEOs of three public companies that are active in North America as well as other global markets. They will examine the impacts and fallout from the global recession on the availability, cost and deployment of capital; and the performance of the equity markets and the real estate asset class specifically. The panelists will also comment what they foresee in 2011 and beyond; what risks and opportunities they feel are emerging at this time; what the market fallout has meant in strategic terms for their organizations; and where they would favour deploying their capital. Who will investors reward now going forward – those REITs and REOCs that are considered safe or those who are have strong growth prospects?

Moderator:
Douglas McGregor, Chairman and Co-CEO, RBC Capital Markets

Panel:
Bruce Flatt, Senior Managing Partner & CEO, Brookfield Asset Management Inc.
Ed Sonshine, President & CEO, RioCan REIT
Walter Rakowich, CEO, ProLogis

11:15 AM

GEOPOLITICAL AND GEOECONOMIC TRENDS: HOW LONG CAN CANADA LAST AS AN ISLAND WITHIN A WORLD OF UNCERTAINTY?

Many of us are concerned about the potential extent that international risks could derail the Canadian economy and market. How much sovereign political risk is there lurking at this time? What impact could it have on our financial markets? Canada's former top soldier will draw on his unprecedented experience and in-depth global knowledge to offer some key insights to the geopolitical and economic environment that lies ahead.

Introduction:
Mark McHughan, Partner, Gowlings Lafleur Henderson LLP

Speaker:
General Rick Hillier, Former Chief of the Defence Staff for the Canadian Forces; Strategic Adviser, Gowling Lafleur Henderson LLP

11:45 AM

SIX PIXELS OF SEPARATION: WHAT DO YOU NEED TO KNOW ABOUT NEW MEDIA, CONSUMER GENERATED CONTENT, AND SOCIAL MEDIA

If Facebook were a country, it would have the fifth largest population in the world.
You no longer live in a world of six degrees of separation. In fact, you’re now down to only six pixels of separation, which changes everything you must know about doing business. Top executives are leveraging digital channels and making strategic business moves that are increasing revenue, awareness, and overall success in the marketplace – without the support of traditional mass media and at virtually no cost. The presentation will unravel this fascinating world from a brand new perspective that is driven by compelling results. Learn some of the latest tactics, insights, and tools that can be used to integrate digital marketing, social media, personal branding, and entrepreneurship.

Introduction:
Peter Altobelli, Vice President & General Manager, Canadian Operations, Yardi

Speaker:
Mitchell Joel, President, Twist Image, named in 2008 as Canada's Most Influential Male in Social Media. When Google wanted to explain online marketing to the top brands in the world, they brought Mitch to the Googleplex in California. Marketing Magazine dubbed him the "Rock Star of Digital Marketing - and one of North America's leading digital visionaries."

12:20 PM

UNDERSTANDING THE POST-MODERN CONSUMER: IS BRICK AND MORTAR ENTERING THE FINAL FRONTIER?

In retail, change is the only constant that you can count on. People around the globe have always enjoyed shopping. But it is an ongoing challenge to keep up with technological change, the evolution of the global economy and shifting consumer desires and needs. This presentation will help you make sense of it all. The ability to create multi-dimensional, integrated solutions will be critical for everyone trying to reach the consumer. As we enter a new post-modern era having the right strategy will only be the initial foundation for success. Without the execution and capabilities to adapt, even the most brilliant strategies will be worthless. As shoppers become continually more discerning, could multiple sales platforms become the new normal in retail? What creativity and innovation can owners and developers of retail space use to remain the most relevant attraction for the consumer?

Speaker:
Anthony Stokan, Founding Partner, Anthony Russell Inc. and author of "Naked Consumption" Retail Trends Uncovered" examining the ten trends defining the future of retail this decade. His compelling presentation style and practical advice has garnered Stokan the reputation as one of North America's preeminent marketing authorities.

12:40 PM

LUNCHEON

LUNCHEON REFRESHMENTS

AFTERNOON REFRESHMENTS

1:50 PM

CONCURRENT SESSIONS (Select A1 or A2)

TOPIC A1:

U.S. AND GLOBAL REAL ESTATE: HOW MUCH LIQUIDITY HAS RETURNED TO THE MARKET? WHERE ARE THE BEST OPPORTUNITIES?

A wide ranging discussion on international real estate trends beginning with an examination of the U.S. market. The panel will assess what impact the global economic environment has had on real estate values, the cost and availability of capital, and investment activity. What are the major issues and challenges facing investors, owners, and private and public equity decision-making in a global context as the new year approaches? What is the prevailing view on the pricing of real estate around the world?
To what extent have investors moved back into the market from the sidelines? The participants will offer viewpoints from different vantage points as they comment on what is currently happening in the United States, other tier one countries, and emerging markets; what risks and opportunities do they see increasing in 2011 and beyond; and what the market fallout has meant in strategic terms for their respective activities.

Moderator:
Peter Senst, Executive Vice President & Director, CB Richard Ellis Limited

Panel:
Gary Garrabrant, CEO & Co-Founder, Equity International
Andrew Mathias, President and CIO, SL Green Realty Corp.
David Paine, Managing Director, Property, Standard Life Investments Ltd.
David Simon, Chairman & CEO, Simon Property Group Inc.

.

TOPIC A2:

SPOTLIGHT ON BILLIONS OF $ OF ACTIVITY IN TORONTO: FROM DEVELOPMENT & INVESTMENT OPPORTUNITIES ASSOCIATED WITH PUBLICLY-OWNED REAL ESTATE TO INFRASTRUCTURE STRATEGIES AND THE REVITALIZATION OF UNION STATION

This session will begin by examining a range of prospective development and investment opportunities associated with some of the publicly owned real estate in Toronto. Discussion will focus on the projects, properties and assets available from Build Toronto and Waterfront Toronto. What are the land use planning objectives of these respective organizations? What type of development opportunities are they offering? What are examples of projects which have been approved? What development opportunities will be created as a result of the plans for the Pan Am Games in 2015?
The second part of the session will highlight the $640 million revitalization of Union Station that is scheduled to be completed in 2015. What are the major elements of this project? What are the commercial real estate opportunities?
The final presentation will examine The Big Move, an ambitious plan that is underway to build over 1,200 kilometres of rapid transit across the Greater Toronto and Hamilton Area. What will be the implications of these infrastructure improvements on residential and commercial development in the Toronto commutershed?

Moderator:
Pierre Bergevin, President & CEO, Canada, Cushman & Wakefield Ltd.

Panel:
Derek Ballantyne, COO & Executive Vice President , Operations, Build Toronto Inc.

John Campbell, President & CEO, Waterfront Toronto

Don Fitzpatrick, Partner & National Leader, Real Estate Services, Deloitte & Touche LLP

Bruce McCuaig, President & CEO, Metrolinx

3:00 PM

RECEPTION

Click here to download the Real Estate Forum brochure

7:30 AM

REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM

WELCOME

Forum Chairs:
David Podmore, Chairman & CEO, Concert Properties Ltd.
Andrea Stephen, Executive Vice President, Investments, The Cadillac Fairview Corporation Limited

8:05 AM

THE EMERGING OPPORTUNITIES AND RISKS IN THE REAL ESTATE AND CREDIT MARKETS IN 2011: THE STRATEGIC VIEW FROM THE "C" SUITE

Introduction:
Tom McCarthy, Vice Chairman, DTZ Barnicke Limited

Keynote Speaker:
Barry Sternlicht, Chairman & CEO, Starwood Capital Group

WHAT DOES IT TAKE TO WIN GOLD AT THE OLYMPIC GAMES?

Keynote Speaker:

Brian Williams, CTV Sports, Television Anchor of Thirteen Summer and Winter Olympic Games

9:30 AM

CONCURRENT SESSIONS (Select B1, B2, B3, B4 or B5)

SESSION B1

OFFICE MARKETS ACROSS CANADA: HOW ARE WE GOING TO FILL ALL THE NEW & EXISTING BUILDINGS AND KEEP THEM OCCUPIED?

With office vacancy rising across the country and new supply being added in many markets, we are experiencing the highest vacancy levels in a number of years. The most significant question on the mind of landlords is related to demand: where will the tenants come from to fill this space? How will the older office stock compete with new green certified developments? What can we expect in major markets across the country for the coming year in terms of leasing velocity? Which markets will emerge from the doldrums the quickest? How will the various classes of office product compete in the short to medium term on this road to recovery? What is the appetite for investment activity in the office market? Are leasing trends in step with valuations and cap rates?

Moderator:
David Bowden, CEO, Canada, Colliers International

Panel:
Peter Coughlin, Principal, The Redbourne Group
Michael Harvey, Vice President, Real Estate Management, Office, Oxford Properties Group Inc.
Sandy McNair, President, Altus InSite
Ted Willcocks, Vice President, North American Operations, Real Estate, Manulife Financial
Remco Daal, COO & President, Canada, Bentall Kennedy

SESSION B2

HAS THE APARTMENT MARKET OUT-PERFORMED ALL OTHER REAL ESTATE ASSET CLASSES? WHAT IS IT LIKELY TO DO NEXT YEAR?

Many may suggest that the staple of any well-diversified real estate portfolio today is still the multi-family market. Investor confidence in this sector continues to attract funds from a broad range of investors. CMHC mortgage insurance has had a significant ongoing impact on the cost and availability of debt capital for financing apartment properties. The predictable yields and strong cash flows continue to keep this sector as the one of the most reliable of all the real estate asset classes. Why does this continue to be the case? How are occupancy rates in major markets across the country? Which cities are performing the best? Where are cap rates at this time and what direction are they likely to take in 2011? Is the condominium market making a competitive impact on apartments by either by offering alternative rental units at very competitive rates or by converting renters into homeowners in Toronto, Vancouver and several other cities?

Moderator:
Derek Lobo, CEO, ROCK Advisors Inc

Panel:
Ugo Bizzarri, CFO & Vice President, Acquisitions, Timbercreek Asset Management Inc.
Alf Hendry, CEO, Homestead Land Holdings Ltd.
Brian McCauley, President, Concert Properties Ltd.
Bill Zigomanis, Vice President, Investments, Boardwalk REIT

SESSION B3

HIGH VALUE OPPORTUNITIES IN MID-MARKETS: A LOOK AT REGINA, SASKATOON, WINNIPEG, QUEBEC CITY AND HALIFAX

Most significant real estate investment attention appears to be focused on and attracted to the five largest urban centres in Canada. These tier one markets continually seem to receive most of the research, investor, and business media attention. But what about other cities across the country? Are there good returns at reasonable levels of risk available in some of the mid-markets? There are an increasing number of investors and developers who have been attracted to these communities in their search for value. They have quietly and patiently found successful opportunities. This session will examine some of their experiences in five specific markets: Regina, Saskatoon, Winnipeg, Quebec City and Halifax.

Moderator:
Don White, Winnipeg Investment Services & National Investment Services, Colliers International

Panel:
Michael Emory, President & CEO, Allied Properties REIT
Geoff Harrison, President & CEO, Arcturus Realty Corp.
Armin Martens, President & CEO, Artis REIT
Michael Zakuta, President , CEO & Director, The Plaza Retail Properties Ltd.

SESSION B4

WHAT IS THE OUTLOOK FOR THE DEBT MARKET IN 2011? WILL SPREADS HEAD LOWER? WILL THE SUPPLY OF CAPITAL INCREASE?

While lending policies and spreads had not returned to pre-2008 levels, the past year saw an increase in the availability of well priced debt capital in Canada. This session will focus specifically on what borrowers can expect in 2011. Some of the questions that will be examined: how much debt capital will be available for commercial mortgages and from what sources; who will be the major providers in Canada and what will they be looking for; how will the strategies of banks, insurance companies, pension funds and other institutions vary from those of private sources of debt capital; how will lenders be evaluating a deal in next year’s market; how will risk be priced; what is likely to happen with loan spreads, amortization periods, loan to value ratios, and recourse; and what property classes will lenders be avoiding, reducing exposure to, or increasing pricing for. Will the CMBS market ever return? Does that matter?

Moderator:
Cathal O'Connor, Executive Vice President & CFO, The Cadillac Fairview Corporation Limited

Panel:
Dean Atkins, Vice President, Mortgage Investments, B.C. Investment Management Corp.
Richard Brownscombe, President, Montrose Mortgage Corporation Ltd.
Paul Miatello, CFO, Morguard Corporation
Andrew Phillips, Managing Director & Team Head, Real Estate Group, TD Securities Inc.
Moray Tawse, Vice President, Mortgage Investments, First National Financial LP

SESSION B5

WHAT DOES THE FUTURE HOLD FOR INVESTMENT ACTIVITY IN THE CANADIAN MARKET?

A panel of commercial brokers and investment bankers from across the country will provide an extensive discussion on current and emerging investment trends in major Canadian markets. The past year has seen a significant increase in deal flow and liquidity. It appears that we have returned to a market imbalance where the number of prospective investors greatly outnumbers the supply of product for sale. What have been the major reasons for the growth in transaction activity and investor interest? What will be required in order for this trend to continue? Who will be the most active buyers? Who will likely be the sellers? Which product types will be most favoured by investors? Which markets will be “top of mind”, and why? How do investor attitudes vary from institutional vs. private and domestic vs. offshore? Where will cap rates likely be trending for core assets? What is the overall outlook for investment activity in 2011?

Moderator:
William Briscoe, Executive Vice President, Investments, GWL Realty Advisors Inc.

Panel:
Trevor Blakely, Managing Director, BMO Capital Markets Real Estate Group Inc.
Jason Cottle, Managing Director, RBC Capital Markets Real Estate Group
Michal Kuzmicki, Managing Partner, Brookfield Financial Real Estate Group Ltd.
Kevin Meikle, Senior Vice President & Managing Director, Capital Markets, Cushman & Wakefield Ltd.
Robin White, Executive Vice President & Head of the Investment Group, Avison Young Commercial Real Estate (Ontario) Inc.

10:40 AM

MORNING REFRESHMENTS

11:10 AM

CONCURRENT SESSIONS (Select C1, C2, C3, C4 or C5)

SESSION C1

RETAIL REAL ESTATE MARKET: THE OUTLOOK FOR VALUE, GROWTH, DEVELOPMENT, AND CASHFLOWS

A wide ranging panel discussion on the challenges, opportunities and outlook for retail real estate market in 2011 across Canada. How is this asset class affected by the ongoing swings in the economy and its impact on consumers? How are the economic conditions affecting value, growth and the sales? How are retailers performing in the current environment? Who appear to be the winners among the tenants as we head into 2011? What new retailers are entering the Canadian market? Which retailers are expanding? Do consumers really want more of the same stores, products and brands? What formats and innovations are growing in popularity? What is happening to retail development activity in response? Will open air centres remain the new normal? What lies ahead for retail market activity in Canada in the new year?

Moderator:
Tom Burns, Senior Vice President, Retail Group, DTZ Barnicke Limited

Panel:
Jack Klaiman, President, Oberfeld Snowcap Inc.
John Morrison, President & CEO, Primaris Retail REIT
Simon Nyilassy, President & CEO, Calloway REIT
Ron Wratschko, Executive Vice President, Operations, The Cadillac Fairview Corporation Limited

SESSION C2

HOW DID WE NAVIGATE THE CHOPPY WATERS IN THE CAPITAL MARKETS IN THE PAST YEAR? WHAT CAN WE EXPECT IN 2011?

In 2010, the capital markets in Canada have continued their unpredictable performance of the past few years. It appears that investing in securitized real estate is back in favour in some circles. Given the challenges faced by other asset classes, real estate is outperforming many vehicles by offering investors steady and favourable yields at a relatively better level than the bond market. This session will examine this and other questions in-depth including: how do Canadian REITs and REOCs stack up against other investment options; are the conditions favourable for issuing a real estate IPO; what has been the track record of the four who tried this year; what has happened to the investor’s and financier’s risk tolerance for real estate; what advantages or disadvantages do REITs and REOCs face in today’s market to buy or sell assets compared to private buyers; what does the future hold for securitized real estate and for raising capital through the public markets; and what is the difference between the U.S. and Canadian experience.

Moderator:
Mark Rose, Chair & CEO, Avison Young Commercial Real Estate

Panel:
Karine MacIndoe, Managing Director, Real Estate/REIT Analyst, BMO Capital Markets
Sandy McIntyre, Senior Vice President & CIO, Sentry Investments
Shubo Rakhit, Partner, Corporate Finance, KPMG LLP
Stephen Sender, Managing Director & Industry Head, Real Estate, Scotia Capital Markets Inc.
Stephen Taylor, President & COO, Morguard Investments Ltd.

SESSION C3

THE RETURN OF ENTREPRENEURS IN TODAY'S REAL ESTATE MARKET

Given the strong investor demand for product in the Canadian market, major opportunities have emerged for entrepreneurialism in the real estate industry.  Entrepreneurs are experienced at looking for innovation and lower priced capital while institutions and corps are looking for new sources of product.  How do they source equity capital?  What lenders and providers of debt are best at working with them?  How do they structure their deals?  What niches and opportunities do they strategically focus on to find the highest potential value opportunities that will enable them to make quality returns and to grow and prosper?  What have been the most significant challenges that they have had to endure? How do they see business opportunities unfolding into the future? 

Moderator:
Stefan Ciotlos, President, CB Richard Ellis Limited

Panel:
David Gerofsky, CEO, First Gulf Corporation
David Kemper, President & Managing Partner, Belmont Equity Partners Inc.
Jason Lester, COO, Dundee Realty Corporation
Garnet Watchorn, President & CEO, Graywood Developments Ltd.

SESSION C4

WHAT ARE THE PROSPECTS FOR INDUSTRIAL REAL ESTATE MARKET IN THE YEAR AHEAD? WILL THE MARKET CONTINUE TO RECOVER?

From the impact of a battered and bruised manufacturing sector to the economic slowdown, industrial real estate has been facing some challenges as it works its way through market conditions. Some cities and regions have been much more greatly affected than others with one result being a broader range in how industrial properties have fared across Canada. This session will examine the outlook for this asset class. What will be the greatest sources of demand for this space? While some of the properties are state-of-the-art facilities, what does the future hold for B and C class aging and out-dated buildings? What will be needed in order for speculative new development to return? How strong is investor interest in this asset class? How do the investment fundamentals compare with leasing trends and velocity? Which markets show the potential for strongest growth?

Moderator:
Scott Addison, Executive Vice President, Eastern Canada, Colliers International

Panel:
Michael Catford, Vice President, Real Estate, HOOPP
Jay Cornforth, Managing Director, Eastern Region, AMB Property Corporation
John Hayes, Managing Partner, Blackwood Partners Inc.
Steve Marino, Vice President, Investments, GWL Realty Advisors Inc.

SESSION C5

PRIVATE EQUITY FUNDS SURVIVED THE TURBULENT ECONOMY VERY WELL: WHAT ARE THEY LOOKING FOR NOW?

A panel of senior executives managing private equity real estate funds will discuss some of their mandates and priorities for 2011. Questions that will be discussed include: are funds currently flush with cash; what are their underlying strategies for the deployment of this capital; which product types will be most favoured, in which markets, and why; what have been the most significant challenges in order to buy or sell assets in this market; what are the differences between the issues faced by a REIT vs. a pension funds vs. a private equity fund vs. a foreign investor in pricing properties at this time; what impact has the credit markets had on their activities; what are the major differences between what they were doing prior to 2008 and what they are doing now; and will the money continue to flow into real estate funds if interest rates rise and the equity markets stabilize.

Moderator:
Jamie Ziegel, Senior Managing Director & National Director, Investment Sales, Capital Markets, Cushman & Wakefield Ltd.

Panel:
Dan Argiros, President & CEO, Conundrum Capital Corporation
Rob Kumer, Partner, Investments, KingSett Capital
Kevin Leon, President & Founder, Crestpoint Real Estate Investments Ltd.
Lou Serafini Jr., President, Fengate Capital Management Ltd.

12:30 PM

LUNCHEON

LUNCHEON REFRESHMENTS

AFTERNOON REFRESHMENTS

1:30 PM

CLOSING ROUNDTABLE DISCUSSION:

FINAL COMMENTS ON THE RISKS, TRENDS, CHALLENGES, AND OPPORTUNITIES FOR 2011

Given the broad range of issues that were raised during the Real Estate Forum over the previous two days, a panel of well respected senior real estate executives will provide the last word. Representing a divergence of interests and viewpoints, the panel will offer their insights and perspectives individually and as a collective on what they believe are the most critical challenges and market trends that the industry must deal with in 2011, what risks and opportunities lie ahead, and what courses of action they would suggest accordingly.

Forum Chairs:
David Podmore, Chairman & CEO, Concert Properties Ltd.
Andrea Stephen, Executive Vice President, Investments, The Cadillac Fairview Corporation Limited

Panel:
Michael Cooper, Managing Partner, Dundee Real Estate Asset Management
Blake Hutcheson, President & CEO, Oxford Properties Group Inc.
Jon Love, Managing Partner, KingSett Capital
Dori Segal, President & CEO, First Capital Realty Inc.
Jonathan Wener, Chairman & CEO, Canderel Management Inc.

2:40 PM

ADJOURNMENT