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2013 Program

Wednesday, September 25, 2013

7:15 a.m.

REGISTRATION AND CONTINENTAL BREAKFAST

8:05 a.m.

WELCOME AND OPENING REMARKS

Conference Co-Chairs:
Kris Boyce, Chief Executive Officer, Greenwin Inc.
Greg Speirs, Senior Vice President, Investment Management, Realstar Management

8:10 a.m.

Economic Outlook for 2013 and Beyond

Benjamin Tal with his ever engaging delivery will offer insight into the Canadian economy with a specific focus on the multi-family and apartment sector. He will also provide his forecast on interest rates, commodity prices, bond yields, inflation and economic risk on the Canadian economy. How will increased government interference or regulations affect the housing market and in turn the rental market? What is in store for energy prices, immigration and population growth across the country? What are the demographic projections for markets across Canada, and which regions are projected to out-perform?

Benjamin Tal, Deputy Chief Economist, CIBC World Markets Inc.

8:45 a.m.

Where is Rental Demand Coming From and What Changes are on the Horizon

This session will provide an in-depth overview of current rental housing supply and demand across Canadian markets, and in what direction they are heading. The speaker will comment on which households are renting, buying, and where they are locating. With widely varying vacancy rates and rent levels across the country, what are the driving forces and what should we anticipate as impactful events or forces?

Peter Norman, Chief Economist, Altus Group

9:15 a.m.

Overview of Multi-Family Residential Values Across Canada

Canada has a diverse cross-section of buyers, owners and operators which results in varying asset values. What changes have occurred in property values over the last 12 months and what opportunities or challenges to these values are forecast over the next year? Paul will scan across the Canadian markets as he provides an overview on asset pricing and discusses disposition and appraisal value expectations. With specific focus on key and notable markets he will also provide a deeper understanding of just how different each markets is.

Paul Morassutti, Executive Vice President and Senior Managing Director, CBRE Limited

9:45 a.m.

MORNING REFRESHMENTS

10:20 a.m.

CONCURRENT SESSIONS (Select A1, A2, A3 or A4)

SESSION A1

Cross Country Investment Activity Update

Building on the previous sessions we will take a deep dive into the transaction market. Using recent transactions as discussion points our panel of leading investment brokers will review the Canadian multi-family transaction market over the past 12 months. We will also touch on key regions and opportunities in the U.S. What is the different in cap rate between geographic zones? How do demographics affect investment returns? What are some essential value creation strategies owners should utilize when they are contemplating selling? What’s in store for the next 12 months in terms of market activity? Will REITs continue to buy if spreads start to change? With slow transaction volume in Q1 and Q2 are listing and therefore sales picking up for the second half of the year?

Moderator:
Carey Poon, Director, Multi-Residential Valuation, Altus Group

Panel:
Aik Aliferis, Principal, Primecorp Commercial Realty Inc.

Jean-Charles Angers, Managing Director, RBC Capital Markets

Colin Catherwood, Partner, Brookfield Financial

Robert Given, Vice Chairman, CBRE, Inc.

Tim Sommer, Vice President, Capital Markets, Cushman & Wakefield Ltd.

SESSION A2

Are We in Store for a Record Amount of New Development? What Are the Driving Forces?

It’s undeniable that the investor market has been filling the need for rental stock in the GTA. Have cap rates finally compressed to a point that developers are now going to build purpose built rental stock? It seems that every apartment owner is starting or contemplating a new development. Will select markets become oversaturated? How much demand is really out there and who will be the builders to satisfy this demand? Will we see increased midrise infill development? What lessons can we learn from development in Halifax, NS and London, ON?

Moderator:
David Bloomstone, Director, TD Securities Inc.

Panel:
Steven Bozek, Vice President, Development, Oxford Property Group
Cary Green, Chairman, Greenwin Inc.
Mark Humphreys, Chief Executive Officer, Humphreys & Partners Architects, L.P.

Adrian Kozak, Director, Investments, Concert Properties Ltd.
Stephen Stewart, Director, Mortgage Investments, Centurion Apartment REIT

SESSION A3

How Do You Create Value in Your Existing Stock of Properties?

With cap rates at extreme lows many owners have chosen to sell their properties and capitalize on market conditions. Others are reinvesting in their buildings. Join this panel as we examine what options are available to property owners looking to create additional revenue streams and value in their existing buildings. Location and age of properties will vary to account for the wide variety of product across the country. Don’t be left behind as others modernize and improve their properties.

Moderator:
Scott Cryer, Chief Financial Officer, CAPREIT

Panel:
Sean Allman, Manager, Property Condition Assessments, Halsall Associates

Frédéric Soucy, Executive Vice President, Cogir Management Corporation
Wayne Tuck, Vice President of Operations, Chief Operating Officer, Centurion Property Associates Inc.
Bill Zigomanis, Vice President, Investments, Boardwalk Rental Communities

SESSION A4

Lessons Learned from Owners and Operators in U.S. Markets

Are our U.S. neighbours really more advanced in terms of operations? What technologies, strategies and methods to increase NOI, Margins, and NAV are they using? What can be exported north of the border to impact the Canadian market? This panel of U.S. investors will explore their portfolio and asset strategies as we learn how their market works and what we can borrow to enhance our own.

Moderator:
Peter Donovan, Senior Managing Director, CBRE

Panel:
Rick Graf
, President and CEO, Pinnacle Family of Companies
Stacy Hunt, Executive Director, Greystar Real Estate Partners
Matt Jordan, Managing Director, LaSalle Investment Management
Evan Kirsh, President, Starlight U.S. Multi-Family
Robert Landin, Chief Executive Officer, Milestone Apartments REIT

11:30 a.m.

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

SESSION B1

What’s Really Going on with the Condo Market? What are the Implications for Apartment Owners and the Rental Market?

It’s rumored that a number of large developers are being approached by condo developers to buy their condo land sites or being asked to forward purchase purpose built apartments. What is happening in the condo sector to create the new market realities that seem to be changing the land market dynamics? To what degree are we continuing to find that there is a shadow rental market behind the condo market? Are Condo developers hesitating and turning to the rental formula? Significant discussion has been underway on if there is a bubble in the Calgary, Vancouver, Montreal, Toronto and Ottawa condo market. Are developers having second thoughts, and turning to rental development or looking to JV with rental owners to mitigate any market changes? What has happened in the condo market over the last 12 months and what implications does that have on the rental inventory in Canada’s largest cities?

Moderator:
Steven Gross, Vice President, Investment Management, Bentall Kennedy (Canada) LP

Panel:
George Carras, President, RealNet Canada Inc.

Todd Cowan, Managing Partner, CD Capital Partners
Earl Kufner, Vice President, Toronto Office, Colliers International

SESSION B2

Cross Border Opportunities: Resolving the Myth About Tax Implications in Order to Invest in the U.S.

Of all the property classes in the U.S. the rental market is arguably the hottest. Does investing in U.S. markets really make sense? What do you need to know to get your foot in the door? Are people making money? Is it any different than owning in Canada? Don’t let tax implications hold you back. What are the tax strategies and corporate requirements to get set up in the U.S.? Our panel of experts will discuss how to get started and what ownership structures are best to implement.

Moderator:
Maralynne Monteith, Senior Tax Lawyer, WeirFoulds LLP

Panel:
Amy Erixon, Principal and Managing Director, Investments, Avison Young
Robert Given, Vice Chairman, CBRE, Inc.
Chris Vangou, Partner, PwC

SESSION B3

Diversity Through Student Housing? What You Need to Know

What do you need to know about student housing? Our panel of leading professionals will examine investment metrics, operating strategies and platforms, exit strategies, and overall specification or diversification strategy within this asset types. What are the barriers to entry and are the markets ripe for an influx of capital or are they fully saturated. Is there any low hanging fruit left?

Moderator:
Andrew Drexler, Assistant Vice President, Commercial Mortgages, First National Financial LP

Panel:
Sandy Harrington, Broker, Principal, IC Funding Financial Corporation
Henry Morton, President, Campus Suites
Gregory Romundt, President & CEO, Centurion Apartment REIT

SESSION B4

Is there a Strategic Advantage to Investing Outside of Core Cities?

What is considered a secondary market? What are the investment differences between primary and secondary markets? With some investors concentrating their acquisition plan strictly on secondary markets, Is there a strategic advantage to investing outside of core markets? What are the management and operating advantages and challenges associated with these markets? Who are the players and partners in development, financing, and property management?

Moderator:
David Lieberman, Vice President, National Apartment Team, Avison Young

Panel:
Mike Bonneveld, Director, Acquisitions, Skyline Asset Management Inc.
Brent Merrill, President & CEO, MetCap Living Management Inc.
Scott Ullrich, President & CEO, Gateway Property Management Corporation

Leslie Veiner, President & CEO, True North Apartment REIT

12:30 p.m.

LUNCHEON

LUNCHEON REFRESHMENTS

1:30 p.m.

Survey Results: Understanding Tenant Desires

Metroland Media will present the recent findings of their tenant survey across Canada. With over 10,000 people surveyed this informative session will focus on renter appetite for amenities, parking spaces, suite layout and more. As we see an influx of development and asset repositioning it is time we finally understood what our future tenants actually want to see in a property. With significant new development potentially on the horizon the market may become considerably more competitive. With the majority of information not previously released, this data has been compiled with the owner, lessor and operators in mind as they strive to understand what can be a competitive advantage. Understanding tenants’ desires will differentiate owners and operators alike.

Mark Rousseau, Managing Director, Digital Revenue, Metroland Media Group Inc.

2:10 p.m.

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

SESSION C1

What’s Going on with Financing and Underwriting? How Exposed Could You Be?

What are the implications for capital markets across Canada with respect to the multi-family and apartment sector? Are there changes on the horizon for CMHC or to the alternative financing sources? Using case studies to illustrate their points of view, our panel will review recent financing transactions and discuss future terms and conditions likely to occur.

Moderator:
Jamie Ziegel, Managing Director, TD Securities Inc.

Panel:
Wayne Byrd, Chief Financial Officer, Skyline Group of Companies
Harley Gold, Vice President, Business Development, CMLS Financial Ltd.

Leo St. Germain, Vice President, Commercial Real Estate Lending, MCAP Financial Corporation

Jeremy Wedgbury, Managing Director, Commercial Mortgages, First National Financial LP

SESSION C2

With Properties of Significant Age is it Better to Improve or Tear Down? What are the Strategies?


Competing with shiny new condo units has its challenges and opportunities. Older properties typically offer larger living areas and overall square footage while condo buildings and new rental stock offers luxury amenities located in mixed use complexes. What are the different strategies to deal with our significantly aging properties and what happens when a property is just too old to repair? What are the implications for replacing the rental stock and how do you deal with existing tenants? What are the exit options as an owner? If reinvestment will get you another decade or two, what are the must haves and what creates the biggest ROI. What are some typical challenges with renovating and retrofitting our older properties? Is it really worth it after all?

Moderator:
Gloria Salomon, Chief Executive Officer, Preston Group

Panel:
Scott Armstrong, Associate, MMM Group

Joe Hoffer, Lawyer, Cohen Highley LLP

Dermot Sweeny, Principal, Sweeny Sterling Finlayson &Co Architects Inc.
Gerd Wengler, President, Park Property Management Inc.

SESSION C3

How are Small and Large Landlords Using Technology to Improve Their Bottom Line?

Everywhere you turn there are new technologies being sold on the premise that will improve your operating performance, bottom line or both. Who is actually using these new technologies, do they have proven ROI’s and if so what are these? What have been the opportunities and challenges when integrating them into your current practices? This panel will explore what options currently exist, how they can be incorporated and what is their financial impact on operations and tenant retention.

Moderator:
Lorne MacDougall, Director, Toronto Office, Office of the Privacy Commissioner of Canada

Panel:
Peter Altobelli, Vice President and General Manager, Canadian Operations, Yardi Systems Inc.

Bruce Cadieux, Marketing Coordinator, Homestead Land Holdings Limited

Jason Leonard, Director, Business Development, Landlord Web Solutions

Brock MacLean, Executive Vice President, Homes.com

Patrick Postrehovsky, Co-Founder & CEO, RentMoola

SESSION C4

Record Pricing: Is it Time to Sell? How to Best Structure Your Exit

With pricing at an all-time high and listings starting to pick up steam what is the ideal structure to hold your assets within? From small private owners to larger entities what structures work? Is the family trust, share sale or joint ventures the best way to shed your assets in a low cap rate high demand market? How do you limit your tax exposure and increase your net profits based solely on your corporate or personal holding strategy?

Moderator:
Michael Betsalel, Vice President, Investment Services, Colliers International

Panel:
Steven Albiani, Partner, Stratum Advisory Group Inc.
Gene Gomes, Managing Director, Abacus Private Equity

Dan Sander, Director, Vice President, Hollyburn Properties Ltd.

Kareem Sethi, Managing Director, Streetwise Capital Partners Inc.

3:10 p.m.

AFTERNOON REFRESHMENTS

3:15 p.m.

The Last Word: Where Do We Go From Here?

Is this a time to grow, sell or restructure? What development plans are on the horizon? What are the implications of Canadian, private and U.S. based REITs on the sector? Our panel of industry leaders will discuss their plans for the next 12 months and what major opportunities and challenges exist.

Moderators:
Kris Boyce, Chief Executive Officer, Greenwin Inc.
Greg Speirs, Senior Vice President, Investment Management, Realstar Management

Panel:
Ugo Bizzarri, Founding Managing Director, Portfolio Management and Investments, Timbercreek Asset Management
Jason Castellan, CEO & Co-Founder, Skyline Group of Companies
Roberto Geremia, President, Boardwalk REIT
Robert Richardson, Executive Vice President & CFO, Killam Properties Inc.
Ezio Sicurella, Vice President, Investments, Residential and Hotels, Ivanhoé Cambridge Inc.

4:15 p.m.

NETWORKING RECEPTION