2005 Program

7:00 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME & GREETINGS

Forum Chairman:
Kevin Pshebniski
, President, Hopewell Developments


8:05 AM
THE ECONOMIC OUTLOOK FOR THE CALGARY MARKET: HOW LONG WILL THE GROWTH CONTINUE?

The opening presentation will examine the economic outlook and performance of the Calgary market, and the key associated trends that are driving the growth in this region including the Alberta Advantage. What is the outlook for employment and population growth for the Calgary area over the next 12 months? How do the economic prospects for Calgary compare with the outlook for other major Canadian cities? The presentation will also examine the outlook for the Canadian economy for 2006 as a whole including the interest rates, inflation, bond yields, and energy costs.

Speaker:
Dr. Warren Jestin
, Senior Vice President & Chief Economist, Scotiabank

Scotiabank Group – Global Economic Research: Global Outlook (pdf) 
Scotiabank Group – Global Economic Research: Real Estate Trends (pdf) 
Scotiabank Group – Global Economic Research: Scotiabank Commodity Price Indices (pdf)

Download Scotiabank Group Presentations:


8:35 AM
THE ALBERTA ENERGY SECTOR: HOW HIGH IS HIGH?

A leading industry analyst will provide his insights on the outlook for the oil & gas, hydrocarbons and energy sector in Alberta over the short and medium term. Among the many questions that he will answer: Where are world oil and gas prices heading in 2006 and over the long term? What are the implications of these energy prices for capital investment in Alberta? How much research, exploration and development is planned over the next 10 years? How has the strength of the energy sector contributed to Calgary’s rise as a major financial centre in Western Canada? With the continued growth of Edmonton and the strong economy in Vancouver, how permanent will this role be for Calgary?

Speaker:
Martin Molyneaux
, Managing Director, Institutional Resesarch, First Energy Capital Corporation


9:05 AM
THE VISION FOR CALGARY: MANAGING GROWTH IN CANADA’S FASTEST GROWING CITY

With Canada’s fastest growing urban economy and with at least $60 billion of investment planned in the next few years, Calgary has a very exciting future.  What is the vision for the future of this key Western city? What is the strategy that Calgary is implementing to manage growth and development? What transportation policies, industrial strategies and planning policies is the city embarking upon as part of this plan? Can the City afford to keep growing the way that it has been growing? What Calgary currently to improve the movement of people in and around the City?

Speaker:
Mayor David Bronconnier
, City of Calgary (invited)


9:30 AM
MORNING REFRESHMENTS

10:00 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
Session A1:
THE OUTLOOK FOR RESIDENTIAL AND NON-RESIDENTIAL LAND AROUND CALGARY: HOW FAR WILL THE PRICE CONTINUE TO RISE?

The session will open with an overview presentation of the trends in the pricing and investment sales of ICI land, residential land, and residential lot in the greater Calgary area. This will be followed by a more detailed discussion of the dynamics in the Calgary lowrise and highrise housing markets as well as the demand for industrial, retail and office greenfield and redevelopment sites. Where are land values heading in the Calgary market for 2006 and beyond?

Moderator and Overview Presentation:
George Carras
, President, RealNet Canada

Panel:
Chris Broccolo
, Principal, Verus Partners LLC 
Sandy Menzies, Vice President, Land Development, Remington Development Corporation 
Don Merlo, Vice President, Infill, Carma Developers Ltd.


Session A2:
UPDATE ON THE HOT INDUSTRIAL REAL ESTATE MARKET

Over the past few years, the industrial real estate has been one of the most sought after asset classes by investors across Canada and continues to be the preferred investment. Have cap rates compressed to the point where it is now more economic to build new industrial buildings than it is to buy them? This panel will answer this question as well as examining the current situation and future prospects for this sector from the perspective of owners, developers, investors and users.

Moderator and Overview Presentation:
Tim Sommer
, Investment Sales, Financial Services Group

Panel:
Randy Cameron
, Senior Vice President, Western Canada, Dundee REIT 
Jeff Fleming, Director, Commercial Investments, GWL Realty Advisors Inc. 
Ross Fraser, Regional Vice President, Investments, Summit REIT 
Andy Smele, Partner, Panattoni Development Company


Session A3:
ROUNDTABLE DISCUSSION ON GOING PUBLIC AND BECOMING A REIT: WHY DO THESE STRATEGIES MAKE SENSE?

Senior executives of REITs and public real estate companies based in Western Canada will examine the key issues and trends in this important sector. How are REITs addressing the challenge of growing in a high priced environment with the anticipation of higher interestrates on the horizon? How active do they expect to be in the Calgary market over the next year? They will also discuss some of the pros and cons for smaller and medium sized real estate organizations who might be considering creating such entities.

Moderator & Overview Presentation:
Stephen Sender
, Managing Director, Real Estate, Scotia Capital (download presentation)

Panel:
Jim Britton
, President & CEO, Northern Property REIT 
Sam Kolias, President & CEO, Boardwalk REIT 
Greg Royer, President & CEO, Royal Host REIT 
Arni Thorsteinson, President & CEO, Shelter Canadian Properties Limited


11:10 AM
CONCURRENT SESSIONS (Select B1, B2 or B3)
Session B1:
MAJOR TRENDS IN THE RETAIL MARKET: WHAT WILL IT MEAN FOR CALGARY?

The retail sector continues to demonstrate leasing strength and strong investment interest. This session will open with an overview of the Canadian retail sector by a leading market consultant. A panel discussion will follow regarding the outlook and prospects for the retail sector for 2006 and beyond in the Calgary market. What is the respective performance of strip and power centres, regional centres, and community enclosed malls? What new retail concepts, if any, are emerging in the Canadian market? How are traditional retailers revitalizing their formats?

Moderator:
Ron Renaud
, President, Rencor Developments Inc.

Panel:
Ron Holowatuk
, Vice President, Retail, Hopewell Development Corporation 
Brian Kozak, Vice President, Western Canada, First Capital Realty Inc. 
Scott Lee, Principal, Northwest Atlantic (Canada) Inc. 
Ken Pattenden, President, Taco Time Canada Inc.


Session B2:
BROKER ROUNDTABLE: WHAT DOES THE FUTURE HOLD FOR INVESTMENT ACTIVITY IN CALGARY?

Office, retail, industrial, and multi-unit residential sectors continue to enjoy excellent liquidity and at high values. Access to debt and equity capital has rarely been better – and at, historically, very low rates. This session will feature a wide-ranging discussion on current and emerging investment trends in Calgary from the perspective of leading brokers and investment bankers. Who are the most active buyers? Who are the sellers? Which product types are currently most favoured by investors? What have been some of the most significant transactions? How do investor attitudes vary from institutional vs. private and domestic vs. offshore? How does Calgary compare with Edmonton, as well as other Canadian markets?

Moderator:
Scott Hutcheson
, President & CEO, Aspen Properties Ltd.

Panel:
Karen Barry
, Associate Vice President, Investment, Royal LePage Commercial Inc. 
John Cardiff, Associate Vice President, Brascan Financial Real Estate Group
Jason Cottle, Managing Director, RBC Capital Markets Real Estate Group 
David Forbes, Executive Vice President, CB Richard Ellis Alberta Limited 
James Miller, Senior Investment Negotiator, Avison Young Commercial Real Estate (Alberta) 
Chris Ridabock, President, JJ Barnicke Calgary Inc.


Session B3:
REAL ESTATE FINANCING TRENDS IN THE CALGARY MARKET

An examination of debt market activity in Calgary with a particular emphasis on financing transactions under $15 million. Using case studies of various types of properties, the panel will discuss pricing in today’s market that will provide you with an understanding of: lending criteria and policies of various lenders; maximum loan amounts, and limits on loan values for any individual client; pricing; what asset classes are desirable and which ones are undesirable at this time; and the major differences between traditional mortgages and conduit loans.

Moderator & Overview Presentation:
Troy Barker
, Director, Prairie Region, First National Financial Corporation

Panel will include:
Jeff Bowling
, Director, Real Estate Division, CIBC 
Geoff Coombe, Regional Director, Calgary Mortgage Branch, Manulife Financial 
Cameron Grieve, Director, Real Estate, GE Commercial Finance 
Kelly Smith, Senior Vice President, Managing Director, GMAC Commercial Mortgage of Canada, Limited


12:20 PM
INFORMAL LUNCHEON & NETWORKING OPPORTUNITY
LUNCHEON REFRESHMENTS

1:20 PM
LUNCHEON PRESENTATION: ENCANA’S LONG TERM REAL ESTATE STRATEGY

An insightful discussion by the EnCana Real Estate Team regarding its major new office re-organization in downtown Calgary — its new office project, the schedule, and space coming onto the market.


2:00 PM
CONCURRENT SESSIONS (Select C1, C2 or C3)
Session C1:
NEW OFFICE BUILDINGS IN THE CALGARY MARKET

With Calgary having the hottest office market in Canada, six new projects totalling 2.6 million sq.ft. have been announced to respond to the very low vacancy rate in the core as well as the suburbs. This session will open with a brief overview of the leasing market and outlook for the Calgary office sector for 2006 and beyond. A panel discussion will follow with an examination of some of the new developments downtown and in the surburbs, the expected sale of the Bank of Montreal property, and Encana’s plans to develop a 2 million sq.ft. office building by 2009.

Moderator & Overview Presentation:
Sandy McNair, President, InSite Real Estate Information Systems

Panel:
Peter Cohos
, President & CEO, Tonko Realty Advisors Ltd. 
Andrew Edmundson, Senior Vice President, Office/Industrial Asset Management, Morguard Investments Limited 
Randy Fennessey, Partner and Managing Director, Colliers International 
Terry Johnston, Development Manager, Opus Building Corporation 
Randy Magnussen, Senior Vice President & General Manager, Bentall Real Estate Services LP

 


Session C2:
MUNICIPAL POLICIES RELATED TO TRANSPORTATION, PLANNING AND DEVELOPMENT, AND REAL ESTATE: WHERE ARE THEY HEADING?

A roundtable discussion with senior City of Calgary officials who have responsibilities in the areas of planning, real estate development and disposition, and transportation. This panel will examine some of the key issues facing growth in the city and how they are being addressed.Among the topics to be discussed:

  • What transportation policies, industrial strategies and planning policies is the city embarking upon to manage its ongoing growth successfully?
  • What is the City currently doing or contemplating to improve the movement of people in and around the city, as well as access to commercial and retail sites?
  • Does the City expect to take any particular changes to its planning policies and procedures over the next year? If so, what will they be and when will they come into effect?

There will also be an update on development and transaction activity from the head of the City of Calgary’s Corporate Properties Department.

Moderator:
David Weinkauf,
Senior Vice President, Remington Development Corporation

Panel:
Alex Broda
, Director, Transportation Planning Division, City of Calgary 
Lynne Craig, Manager Land Division, Corporate Properties & Buildings, City of Calgary 
Gary Klassen, Director, Development & Building Approvals, City of Calgary


Session C3:
THE CONDOMINIUM AND RENTAL APARTMENT MARKETS IN CALGARY: ARE THEY HEADING IN OPPOSITE DIRECTIONS?

Notwithstanding the strong population growth in Calgary, concern is expressed by some investors about the short and medium term outlook for the multi-unit residential market. What impact is the strong condominium market having on both the supply of rental units and the pool of renters? Is the Calgary condominium market peaking or will it continue to perform very well in 2006? Where is the short and medium term investment outlook for the apartment sector?

Moderator & Overview Presentation:
Sandy Navrady
, Practice Leader, Altus Helyar

Panel:
Calvin Buss
, President, Millenium Realty Ltd. 
Richard Corriveau, Senior Market Analyst, Calgary, Canada Mortgage & Housing Corporation 
Kevin Screpnechuk, Senior Vice President, Rental Operations, Boardwalk REIT 
Naum Shteinbah, Vice President, Streetside Development Corporation

 


3:00 PM
Afternoon Refreshments

3:15 PM
THE EXECUTIVE ROUNDTABLE — MAKING SENSE OF PROPERTY VALUES: WHERE DO WE GO FROM HERE?

A panel discussion on the most significant issues facing real estate decision-makers today – the future outlook for property values. The questions to be examined are as follows:

  • Why are property values in Canada continuing to be so strong today?
  • What are the key factors influencing current property values in Calgary?
  • Are properties undervalued, fairly valued or overvalued?If high prices are an international trend, is Canada now priced at global values?
  • How long is real estate likely to remain more attractive than alternative areas of investments?
  • How much investment activity do they foresee across Canada in general and in Calgary specifically for 2006?
  • Of those panelists who are buyers, what are their strategies at this time? What will be their priorities over the next 12 months?

The panel will also address the matter of liquidity and its impact on property values and many other factors that determine value.

Moderator:
Kevin Pshebniski
, President, Hopewell Development Corporation

Panel:
Paul Brundage
, Executive Vice President, Oxford Properties Group Inc.
Amy Erixon, COO, North American Operations, Giffels Asset Management America Inc.
Doug McGregor, Head of Global Investment Banking, RBC Capital Markets and President & CEO, RBC Capital Markets Real Estate Group
James Midwinter, Executive Vice President,GWL Realty Advisors Inc.
John O’Bryan, Managing Director,TD Securities Realty Group


4:15 PM
CLOSING RECEPTION