2013 Program

Platinum

Gold

Monday, June 17, 2013

5:30 PM – 7:00 PM
CHAIRMAN’S RECEPTION

An opportunity for informal networking & meeting with other delegates in the offices of McInnes Cooper at Purdy’s Wharf II

Tuesday, June 18, 2013

7:15 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME AND OPENING REMARKS

Michael Zakuta, President & CEO, Plazacorp Retail Properties Ltd.


8:05 AM
ECONOMIC SNAPSHOT: WHAT ARE THE IMPACTS ON ATLANTIC CANADA?

An insightful presentation examining the key economic engines that are and will be driving growth across the Atlantic region. To what extent are new mega projects in energy, hydro-electricity and ship building combining with traditional industrial sectors to propel this regional economy forward? What is the outlook for Canadian interest rates, inflation, employment, and immigration? How will these economic fundamentals impact Atlantic Canada? Are there U.S., European and other global trends that need to be considered as well?

Benjamin Tal, Manging Director & Deputy Chief Economist, CIBC World Markets


8:30 AM
IN CONVERSATION WITH FRANK SOBEY

An inspired conversation with Mr. Frank Sobey, Chairman of Crombie REIT. Mr. Sobey is also a Director of Empire Company Limited, Chairman of the Dalhousie Medical Research Foundation, and a member of the Canadian-US Fulbright Program. Mr. Sobey will offer his insights and views within an intimate interview format.

Interviewer:
John O’Bryan,
Chairman, CBRE Limited

Speaker:
Frank Sobey,
Chairman, Crombie REIT


9:00 AM
A VIEW FROM THE TOP: CITY BUILDING FROM A MAYORAL PERSPECTIVE

A wide ranging discussion with the municipal leaders across multiple Atlantic Provinces, this session will examine city building. Where do they see the region and major cities heading in 2013 and beyond? What will be the key drivers of growth in these cities? What projects, issues and opportunities are they the most passionate about. How do they view the impact and potential for commercial real estate across the region? What are the major priorities for their councils and what policies are they pursuing to meet these objectives? What are the possibilities of more collaboration between major centers for a more regional focus? Should resources be polled to have a more powerful voice acting as a region? Are they concerned, energized, encouraged, or hesitant as a result of the recent and projected boom in investment in the Atlantic region?

Moderator:
Bob Mussett
, Senior Vice President & Senior Managing Director, CBRE Limited

Panel:
Mayor Yvon Lapierre
, City of Dieppe, New Brunswick
Mayor Dennis O’Keefe, City of St. John’s, Newfoundland
Mayor Mike Savage, City of Halifax, Nova Scotia


9:50 AM
MORNING REFRESHMENTS

10:20 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
SESSION A1:
BEHIND THE DESK: KEY LEARNINGS FROM THE OFFICE MARKET

How has Atlantic Canada’s office markets performed over the past few years? What are the projections for inventory levels, tenant demands, leasing rates, and cap rates? Do LEED and Green building practices play a significant role in tenant demand and new build? Are we seeing demand satisfied in St. Johns or will there be an oversupply as a result of the current development boom? Are political policies to drive more office demand in downtown Halifax beginning to work or will we continue to see a hollowing of the core and much stronger growth in the suburbs? What are the major trends in Moncton, Fredericton and Saint John? Is there any growth in tenant demand for greener buildings among new developments and upgrading of the existing stock?

Moderator:
Tim Lyons
, Regional Director, Colliers International New Brunswick Inc.

Panel:
Todd Bechard
, Executive Vice President, Atlantic Provinces, Cominar REIT
Terry Chaffey, Vice President, Real Estate, Fortis Properties
Michael Ewald, Regional Manager, Atlantic Region, CREIT Management L.P.
William Hardman, President, The Hardman Group
Barry Stockall, Senior Director, Office Leasing, Crombie REIT


SESSION A2:
RESIDUAL EFFECT: WHO WILL BENEFIT FROM REGIONAL SUPER PROJECTS

With over $100 billion in new investment anticipated across Atlantic Canada, major projects are a key factor behind a potentially more bouyant regional economy. Who will capitalize from this wave of investment activity and where are the key growth areas that will be the main beneficiaries? This session will examine what impact these projects will have, which markets will be most affected, and how the commercial real estate investors and developers can take advantage of this enormous capital infusion in this region.

Moderator:
Lawrence Freeman
, Partner, McInnes Cooper

Panel:
Mike Haycox
, Senior Manager, Advisory Services, Ernst & Young LLP
Stephen Lund, President & CEO, Nova Scotia Business Inc.
Mike McAloon, Vice President, Industrial Benefit Programs, Irving Shipbuilding Inc.


SESSION A3:
FINANCING: WHO HAS IT AND WHO GETS IT

A panel discussion focusing on the debt market and examining what borrowers can expect for the remainder of 2013 and beyond. Who are the some of the most active lenders in Atlantic Canada and what are they looking for? How are they likely to assess a deal and price it? What property classes are they avoiding, reducing exposure to, or increasing pricing for? How will the strategies vary among the various types of debt lenders – from major banks and institutions to credits unions and mortgage debt funds? How is risk adjusted between other regions of Canada and the Atlantic Provinces? How available are mezzanine financing and other secondary sources of debt? Discussion will also briefly examine construction financing and loans for smaller assets and smaller projects.

Moderator:
Glenn Hynes
, CFO & Secretary, Crombie REIT

Panel:
Floriana Cipollone
, Chief Financial Officer, Plazacorp Retail Properties Ltd.
Gary Martin, Managing Director, Atlantic, CMLS Financial
Shawn Philpott, Vice President, Institutional Mortgage Capital
Glenn Umlah, Vice President, Atlantic Canada, Montrose Mortgage Corp. Ltd.


11:25 AM
CONCURRENT SESSIONS (Select B1, B2 or B3)
SESSION B1:
TRANSACTION UPDATE: WHO IS TRADING WHAT AND FOR HOW MUCH?

A spirited discussion among major national institutional investors as they review their Atlantic Canadian investment strategy. What have been the major challenges facing investors trying to buy assets in any of the five largest cities in this region? What is the investor profile looking at in Atlantic cities? Has the abundant availability of low priced capital and an ever increasing number of potential buyers created a disconnect between supply and demand of product? Where do you project that cap rates will be by 2014 relative to today’s prices? Which product types appear to be strongly favoured by investors? How do the investment markets in Atlantic Canada compare with other Canadian cities?

Moderator:
Ken MacIntyre
, Senior Director & General Manager, Altus Group

Panel:
Nora Duke
, President & CEO, Fortis Properties
Phil Gillin, Senior Managing Director & Head, Canadian Property Investments, Sun Life Financial
Steven Marino, Vice President, Investments, GWL Realty Advisors Inc.
David Pappin, Vice President, Investments, Fiera Properties Limited


SESSION B2:
HOT INDUSTRIAL MARKET: WHERE, WHY, HOW & WHEN?

This session will begin with an overview of the Atlantic Canadian industrial market. Key factors explored will include: how much space has been added in the past few years; what type of product is in highest demand; what are the hottest markets, where are lease and cap rates headed, and what is the outlook for the industrial sector over the next twelve months. The panel will also discuss the latest trends affecting industrial uses including the Amazon affect, changes to the retail sector, and just in time delivery. With some large purchases over the past twelve months, what implications, if any, will this have on this property class?

Moderator:
Gary MacKenzie
, Senior Sales Associate & Associate Broker, CBRE Limited

Panel:
Tim Banks
, Chief Executive Officer, APM Group of Companies
Paul Dykeman, Chief Executive Officer, Summit Industrial Income REIT
Gordon Lahanky, President & CEO, Atlantic Commercial Properties Inc.
Chris Ross, Senior Vice President, Strathallen Capital Corp.
Nicholas Stryland, Vice President, Eastern Canada, Industrial Leasing, Dundee Industrial REIT


SESSION B3:
TO OWN OR RENT? HOW IS THE MULTI-FAMILY SECTOR SHAPING UP?

This session will examine the major trends in demand, supply and investment activity in the Atlantic Canadian multi-family markets. Is the surge in condominium activity affecting the balance in supply and demand or is there a risk of overbuilding in certain cities? How will the condominium market affect the rental market both in terms of demand as well as the potential supply in purpose built apartments? Where are vacancy rates and rental demands headed? How will the flight to urban nodes from the rural countryside affect this property class? Does the increasingly aging population want to stay in their homes, move to apartments or settle in a more community environment focused on aging? As we strive to attract and retain the younger generations and families, what is their housing preference and will they impact development decisions? Mixed-use development activity will also be briefly discussed.

Moderator:
Bill Kwiecien
, Regional Director, Atlantic, First National Financial LP

Panel:
Brad Dickie
, Director, Multi-Residential, Oxford Properties Group
Jim Lutes, Managing Partner, Ernst & Young LLP, Atlantic Canada; Senior Vice President,Ernst & Young Orenda Corporate Finance Inc.
Robert Richardson, Executive Vice President & CFO, Killam Properties Inc.
Michael Tsourounis, Executive Director, Direct Investments & Valuations, Timbercreek Asset Management


12:25 PM
LUNCHEON
LUNCHEON REFRESHMENTS

1:00 PM
LUNCHEON KEYNOTE SPEAKER
The Admiral’s View: Canadian Navy’s Influence in Atlantic Canada

Introduction:
Bill MacAvoy
, Managing Director, Cushman & Wakefield Atlantic

Speaker:
Rear-Admiral David Gardam,
Commander Joint Task Force Atlantic & Commander Maritime Force Atlantic,National Defence and the Canadian Forces


2:00 PM
CONCURRENT SESSIONS (Select C1, C2 or C3)
SESSION C1:
SECONDARY AND TERTIARY MARKETS: WHAT IS YOUR STRATEGY?

There are many smaller investors and developers who have found opportunities not only in the major five cities but also in secondary communities across Atlantic Canada. What are some of the opportunities that investors and developers have quietly and patiently found in the towns? How much liquidity do assets in secondary markets offer? With shifting demographics and rapid migration to the urban areas in the region what are the long term trends, opportunities and risks within these secondary markets? Who is investing in these markets and are they making money. What portfolios are investor massing and what is their investment strategy.

Moderator:
Greg Taylor
, Vice President, Managing Director, Colliers International (Nova Scotia) Inc.

Panel:
Donald Burton
, Senior Property Manager, Strathallen Capital Corp.
Ian Franklin, Commercial Sales & Leasing, Cushman & Wakefield Atlantic
Brian MacLeod, President, MacLeod Group Health Services Ltd.
Trevor MacLeod, Director, Real Estate & Development, The Gray Group


SESSION C2:
GOING VERTICAL: WHO ARE THE ACTIVE DEVELOPERStext

With cranes in the air, development activity is fully underway across the region. Who are the active developers in the market today and what do they foresee in the coming months and years? What makes a project successful in their opinion, how are they finding labour, what financing have they secured and how are they fighting escalating construction costs? What are the major factors impacting their overall returns? This session will also examine where construction costs are going in the next few years with over $100 billion of major projects on the horizon.

Moderator:
Bill MacAvoy
, Managing Director, Cushman & Wakefield Atlantic

Panel:
Dan Gibson
, President, Clayton Developments Limited
Neil Hardy, Executive Vice President, Atlantic, Altus Group
Louie Lawen, President, Dexel Developments
John Lindsay, President, East Port Properties Limited


SESSION C3:
A NEW MODEL: HOW BUOYANT IS THE RETAIL MARKET?

This session will examine retail activity across the Atlantic region and the extent of investor, developer and tenant interest in these markets. How is the supply and demand balance at this time with respect to the various types of retail formats and tenant interest in these markets? Who are the new U.S. or other foreign retailers expected to be coming into these cities? Differentiation is also a key ingredient between older existing centres and newer projects. What developments have been completed in urban markets? How are they performing? Are there any particular formats and innovations growing in popularity? Where are cap rates going? What are the major differences between type and location of assets in terms of investor yield? How do retail tenants view the major urban nodes in Atlantic Canada vs. the secondary and rural markets?

Moderator:
Art Savary
, Senior Director, Altus Group

Panel:
Steven Dexter
, Commerical Real Estate Advisor, Cushman & Wakefield Atlantic
Chris Hatto, Chief Investment Officer, Strathallen Capital Corp.
Justin Ladha, Vice President, KMK Capital Inc.
Peter Mackenzie, Associate Vice President, CBRE Limited


3:00 PM
CLOSING ROUNDTABLE:
ATLANTIC CANADA: WHAT IS IN STORE OVER THE NEXT TWO YEARS?

Our insightful panel of leading professionals will offer their view on where the market is headed over the next 12 to 24 months. They will provide forecasts and predictions on major trends affecting the commercial real estate markets. The panel will also comment on their investment strategies and decision-making processes when contemplating an acquisition or development in Atlantic Canada. Some of the other questions that will also be explored include:

  • What are the most significant challenges, trends, risks and opportunities for investors and owners in the market?
  • What can be expected with respect to investment velocity and deal flow?
  • Are you concerned about resources with over $100 Billion of major projects on the horizon?
  • How will you capitalizing on the increased investment within the region?
  • Are investors looking East as capital searches for yield?
  • Where do you see cap rates heading over the next 12 months?
  • Where do you see lease rates going in the near term? What challenges if any do the leasing markets face?
  • What will happen to the capital stack and will government policy play a large role?
  • What asset class will be the most sought after in 2013 and why?
  • What are you seeing in capital, financial and real estate markets across Canada?

Moderator:
Michael Zakuta
, President & CEO, Plazacorp Retail Properties Ltd.

Panel:
Don Clow
, President & CEO, Crombie REIT
Paul Finkbeiner, President, GWL Realty Advisors Inc.
Philip Fraser, President & CEO, Killam Properties Inc.
Charlie Oliver, Owner, Martek Morgan Finch Incorporated
Robert Roy, President, Fiera Properties Limited


4:00 PM
NETWORKING RECEPTION