2012 Program

7:00 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME & GREETINGS

Introduction:
Dennis Auger
, Partner, Real Estate & Financial Services, KPMG LLP

Don Fairgrieve-Park

Forum Chairman:
Don Fairgrieve-Park, Senior Vice President, Real Estate Services, Calgary/Winnipeg, Bentall Kennedy (Canada) LP


8:05 AM
INTERNATIONAL, NORTH AMERICAN, CANADIAN AND ALBERTA ECONOMIC PERSPECTIVES

The opening presentations will examine the North American economic landscape including GDP and employment growth, market liquidity, interest rate trends, rates of inflation, and currency values. The speakers will discuss how much turbulence can be expected over the next fifteen months and whether the U.S. will experience any recovery in 2013 or is it more likely to be submerged into another recession following the election. What are the potential implications for Canada of the continuing issues in Europe? What is the outlook for continued growth in China, India and other major emerging markets? What will this all mean for the demand for commodities and energy? What are the likely prospects for Alberta’s performance relative to the rest of Canada over the short and medium term?

Greg Kwong

Dr. Warren Jestin

Doug Poutasse

Introductions & Moderator:
Greg Kwong
, Executive Vice President & Regional Managing Director, CBRE Limited

Speakers:

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

Doug Poutasse, Executive Vice President, Head of Strategy & Research, Bentall Kennedy LP


9:15 AM
THE GLOBAL AND ALBERTA ENERGY MARKETS: THE ISSUES AND TRENDS
This presentation will offer an insightful discussion on the outlook for the Alberta and Global energy sector over the short and medium term. Where are oil and gas prices heading in 2013 and beyond? What are the implications of these trends for capital investment in Alberta? To what extent will the oil and gas sectors continue to evolve in two different directions? How are these two sectors currently affecting the Alberta economy? What are the likely implications for corporate growth in this industry and all supporting organizations over the next few years?

Rick George

Keynote Speaker:
Rick George
, Partner, Novo Investment Group & Past CEO of Suncor Energy Inc.


9:45 AM
MORNING REFRESHMENTS

10:15 AM
CONCURRENT SESSIONS (Select A1, A2, A3 or A4)
Session A1:
THE BOUYANT OFFICE MARKET: DOWNTOWN vs. BELTLINE vs. SUBURBS

The panel will examine the current state of the downtown, Beltline and suburban office markets and suggest what the future may hold for occupancy rates, development activity, NERs, and absorption over the short and medium term. The downtown core continues to be a star performer, accounting for 60.4 per cent of total office absorption in Canada year-to-date, with a vacancy rate of 5% and the highest NERs in the country at levels unseen since the end of 2008. However, the suburban market’s vacancy rate has risen to almost 11% over this same period of time. In between is the Beltline district with some new developments and spillover demand from tenants that want downtown proximity without paying downtown rates. This session will examine all three parts of the Calgary office market. As a final comment, the panel will discuss whether the potential for a global economic slowdown is a concern, how could it impact the oil and gas industry, and has it started already to create a degree of caution not seen since 2009/2010.

Randy Fennessey

Randy Cameron

Doug McGregor

David Routledge

Scott Taylor

Moderator:
Randy Fennessey
, President/Partner, Calgary, Colliers International

Panel:
Randy Cameron
, Senior Vice President, Western Canada, Dundee REIT
Doug McGregor, Senior Vice President, Leasing, Western Region, Artis REIT
David Routledge, Vice President, Real Estate Management, West, Oxford Properties Group Inc.
Scott Taylor, Vice President, Asset Management, Prairie Region, GWL Realty Advisors Inc.


Session A2:
KEY TRENDS AND ISSUES AFFECTING THE LAND AND HOUSING MARKETS IN CALGARY AND OUTLYING COMMUNITIES

The session will open with a brief overview of the trends concerning the price and inventory of commercial and residential land in the greater Calgary area. A panel discussion will then examine the market fundamentals, issues and dynamics affecting land acquisitions and development in the region. What are current land values and where are they heading for 2013 and beyond? What are the City’s plans with respect to its land portfolio and bringing supply on stream? How large is the inventory of serviced land at this time? Is there a disconnect between the City and the development industry re: how much land supply is needed vs. how much is available using twenty-five year projections? There is a considerable growing amount of development and growth in smaller communities on the fringe of Calgary but also further afield: from Swift Current and Grande Prairie to Airdrie, Balzac and Rocky View. What is the impact of this trend on the City of Calgary? What infrastructure and transportation improvements should be priorities going forward to meet the need of all of this growth?

Jaydan Tait

Greg Brown

Lesley Conway

Chris Jacyk

Richard Priest

Moderator:
Jaydan Tait
, General Manager, Calgary Infill, Brookfield Residential

Panel:
Greg Brown
, Principal, Brown & Associates Planning Group
Lesley Conway, President, Hopewell Residential Communities
Chris Jacyk, Growth Management Team Lead, City of Calgary
Richard Priest, Vice President, Land Development, Wenzel Developments Inc.


Session A3:
THE CHANGING LANDSCAPE OF THE RETAIL MARKET AND THE IMPLICATIONS FOR CURRENT TENANTS AND OLDER FORMATS

The Canadian retail market is experiencing some dramatic change. One of the most significant is the range of U.S. and European retailers who have entered Canada and the potential implications of these new entrants on landlords, developers, existing retail tenants, and consumers. What will be the key impact of this influx on new retail developments, tenant profiles, and leasing activities? What does the future hold for the renewal of older retail? How much change are we likely to see in formats and size, e.g. bigger is not always better? What impact is inner city condominium development having on urban retail formats to serve that new market segment? What will the new premium outlet malls mean to the Canadian retail landscape? Who are now the real anchors in retail centres? What lies ahead for retail market activity in Calgary in 2013?

Rob Walker

Ralph Huizinga

Lec Mroczek

Tom Munro

Darryl Schmidt

Moderator:
Rob Walker
, Vice President & Partner, Retail, Colliers International

Panel:
Ralph Huizinga, Vice President, Acquisitions & Development, Western Canada,First Capital Realty Inc.
Lec Mroczek, Manager, Real Estate & Development, Tim Hortons
Tom Munro, Vice President, Real Estate & Store Development, Overwaitea Food Group
Darryl Schmidt, Vice President, National Leasing,The Cadillac Fairview Corporation Limited


Session A4:
AN UPDATE ON THE OIL SANDS: IMPLICATIONS FOR CALGARY, FORT MCMURRAY AND EDMONTON MARKETS

The panel discussion will examine the market fundamentals and dynamics of the oil sands in Alberta. What significant and specific implications have the oil sands had on Calgary, Edmonton and Fort McMurray? The panel will quantify the impact the impacts of oil sands on these communities and how to mitigate these impacts and challenges. Has the Government of Alberta helped or exacerbated the issues and challenges over the last twelve months? Finally, what is the responsibility of consultants to identify these impacts and challenges?

Michael Evans

Glen Laubenstein

Bryan Lutes

Moderator & Speaker:
Michael Evans
, Executive Director of Stakeholder Relations, Regional Municipality of Wood Buffalo

Panel:
Glen Laubenstein
, Chief Administrative Officer, Regional Municipality of Wood Buffalo
Bryan Lutes, President, Wood Buffalo Housing & Development Corporation


11:25 AM
CONCURRENT SESSIONS (Select B1, B2, B3 or B4)
Session B1:
GAME CHANGING DEVELOPMENTS IN CALGARY: QUARRY PARK, THE BOW, AND CROSSIRON MILLS

An examination of three significant current or recent development projects and their impact on the Calgary market. The discussion will focus on the Bow (the tallest office tower in Canada outside of Toronto which has redeveloped the east side of the City’s downtown commercial core) CrossIron Mills (the largest single level shopping centre in Alberta with some one million sq.ft. of enclosed retail and entertainment activity); and Quarry Park (the first suburban live/work/play campus style development in Calgary with a diversification of retail, single and multi-unit residential, light industrial, and office uses). What insights can the owners/developers/users of these projects offer?

Robert MacDougall

Van Agioritis

Cody Clayton

Brad Krizan

Moderator:
Robert MacDougall
, Senior Managing Director, Cushman & Wakefield Ltd.

Panel:
Van Agioritis
, Director, Mills Leasing, Ivanhoé Cambridge
Cody Clayton, President, Remington Developments
Brad Krizan, Director, Corporate Administrative Services, EnCana Corporation


Session B2:
UPDATE ON THE INDUSTRIAL REAL ESTATE MARKET: WILL THE STRONG DEMAND FOR SPACE AND DEVELOPMENT CONTINUE?

Over the past decade, Calgary has established itself as the leading Western Canadian logistics and distribution centre. Following a period of robust development, the slowdown in the economy brought new construction to a virtual stop. But this past year, saw a return of new projects with almost one million sq.ft. of new industrial space delivered in the 2nd quarter alone and vacancy rates still dropping to below 5%. Is this demand for additional new space sustainable? Is it primarily emanating from the distribution needs of new major retailers, suppliers to the hydrocarbons sector and other trends? Will geo-economic issues have any affect on this market? What is the outlook for vacancy rates, absorption and development for 2013 and beyond? How does the North submarket compare with South Calgary? Are developers likely to move into neighbouring communities given the levies and costs of building in the city of Calgary? How much investment activity is this asset class attracting?

Ryan Haney

Richard Broe

Murray DeGirolamo

Kevan Gorrie

Todd Yuen

Moderator:
Ryan Haney
, Vice President, Industrial, CBRE Limited

Panel:
Richard Broe
, COO, Walton Realty and Management
Murray DeGirolamo, Vice President, Industrial Western Canada, Hopewell Development Corporation
Kevan Gorrie, President, Pure Industrial Real Estate Trust
Todd Yuen, Vice President, Industrial Development, The Beedie Group


Session B3:
CRYSTAL BALL: HOW DEMOGRAPHIC AND TECHNOLOGY TRENDS ARE CHANGING THE REAL ESTATE INDUSTRY – AND SOONER THAN YOU THINK!

Today, anyone involved in the creation and sale of real estate spends a lot of time talking about demographics: about how people buying homes are very different than they were before. There is no question that the demographic make‐up of Calgary and Canada will continue to change in even more radical and visible ways. At the same time, technology is significantly changing how people relate and communicate. What do these radical changes mean for the housing industry? What does it mean for any industry? This presentation will piece together a convincing argument for what things will look like tomorrow. This is essential knowledge for anyone involved in the business of building a city.

David Allison

Speaker:
David Allison
, Co-Founder & President, Braun/Allison Inc.

Session B4:
PLANNING & DEVELOPMENT IN CALGARY: THE ONGOING DISCUSSION ABOUT THE LAND USE BY-LAW AND THE APPROVAL PROCESS

The speed at which Calgary has grown over the past ten years is impressive. But, the accelerated growth has increased pressure on The City to manage this trend effectively. This session will examine two issues arising from this period of growth: The first part of the session will focus on The City’s overall planning and building approval process. To what extent has the cost, timing and complexity for approvals increased significantly over the past decade? What are the facts and the fallacies pertaining to this process? What are the challenges that developers and municipal officials encounter? What changes can be made to improve the process for everyone’s benefit, including the work under way to improve the planning process through the Planning Improvement Initiative? Are City development approvals receiving more attention in certain geographic areas of the municipality than others?

The second part of the session will focus on the downtown core where the pace of development has been among the strongest. New land use districts that emphasize sustainability and excellence in urban design are currently being developed to eventually replace CM-2 by-law. How will this be achieved, and what are the implications? How are these new land use districts being received by all affected parties?

Scott Hutcheson

Stuart Dalgleish

Vince Dods

Chris Ollenberger

Matthias Tita

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

Speakers:
Stuart Dalgleish, Director, Development & Building Approvals, City of Calgary
Vince Dods, Partner, Gibbs Gage Architects
Chris Ollenberger, Executive Vice President, OPUS Corporation
Matthias Tita, Acting Director, Land Use Planning & Policy, City of Calgary


12:25 PM
INFORMAL LUNCHEON & NETWORKING OPPORTUNITY
RECEPTION

1:25 PM
LUNCHEON KEYNOTE: THE VISION FOR CALGARY: GROWTH AND DEVELOPMENT IN WESTERN CANADA’S HOTTEST MARKET
A insightful presentation from the new senior municipal official responsible for planning and development on the exciting future for this key centre of Western Canada. What will be the priorities, strategies and policies that Calgary will be adopting to manage growth and development? How with the City be encouraging dialogue with key stakeholders like the real estate industry? What are some of the specific initiatives that are being implemented that will help shape Calgary into a major leading Canadian and global city?

Rollin Stanley

Speaker:
Rollin Stanley
, General Manager, Planning, Development & Assessment, City of Calgary


2:10 PM
CONCURRENT SESSIONS (Select C1, C2, C3 or C4)
Session C1:
THE GROWING TREND IN MIXED-USE DEVELOPMENTS: CASE STUDIES ON THE CHALLENGES AND OPPORTUNITIES

Mixed-use development is on the rise throughout Calgary – from the downtown core and the Beltline district to the suburban areas and outlying districts. The City would like to see more of this type of activity especially in the form of higher densities. What is their policy towards high density development in the suburban areas while encouraging development in downtown and inner-city areas? From a developer perspective, under what circumstances does it make the most sense? What are the opportunities for these types of projects and what challenges and risks do they pose? How do you ensure that a joint venture will work in order to develop and then manage these projects when residential uses are integrated with commercial?

Rick Lewis

Jeff Hyde

Bob Tattle

John Torode

Todd Werre

Moderator:
Rick Lewis
, Partner, Gibbs Gage Architects

Panel:
Jeff Hyde, Vice President, Development, GWL Realty Advisors Inc.
Bob Tattle, Vice President, Business Development, Anthem Properties
John Torode, President, Torode Realty Advisors Inc.
Todd Werre, Vice President, Development, Westcorp Properties Inc.


Session C2:
MANAGING CONSTRUCTION AND COSTS IN THE CALGARY MARKET

As the strength in the economy and the real estate market has returned in the past three years, construction activity is significantly underway again in Calgary. Demand is emanating from across the entire market: office, industrial, retail, multi-unit residential, hotel and mixed-use developments. On top of this is the impact on materials and labour from the billions of dollars of infrastructure construction across the oil patch, in northern Alberta, and in the public sector. This session will examine some of the challenges facing developers in this market environment, the most updated information on current and future direction of construction materials and labour, along with the availability of construction financing for both smaller and larger projects.

Greg Guatto

Iain McCorkindale

Phil Milroy

Bruce White

Moderator:
Greg Guatto
, President & COO, Aspen Properties Ltd.

Panel:
Iain McCorkindale
, President, M2i Development Corporation
Phil Milroy, President & CEO, Westcorp Properties Inc.
Bruce White, Project Director, PCL Construction Management Inc.


Session C3:
CHEAP AND AVAILABLE DEBT FINANCING: HOW LONG WILL IT LAST? WHERE ARE SPREADS HEADING? WHAT LIES AHEAD?

A panel discussion will focus on the debt market and examine what borrowers can expect for 2013 and beyond. How long will record low rates and spreads prevail? To what extent are the concerns of the Bank of Canada, the Minister of Finance, the issues in the EuroZone and the slow meandering recovery in the United States likely to affect Canadian debt markets going forward? A broad range of lenders will examine the trends in capital availability, “spot” pricing, and mortgage underwriting in the Calgary market. What type of transactions are they looking for and favouring? Case studies from actual deals will be used to demonstrate how loans are finalized and what the near term holds for borrowers entering the market in the last quarter and the beginning of 2013. How available are mezzanine financing and other secondary sources of debt? Is CMBS likely to be making a comeback? Construction financing and loans for smaller assets and smaller projects will also be briefly examined.

Doug Milne

Rick Bachalo

Jeff Bowling

Darrin Lee

Robert Perkins

Moderator:
Doug Milne
, Managing Director, Calgary, Canada ICI Capital Corporation

Panel:
Rick Bachalo, Vice President, Mortgage Investments, Western Canada & PortfolioManagement, The Great-West Life Assurance Company
Jeff Bowling, Vice President and Branch Manager, Canadian Western Bank
Darrin Lee, Assistant Vice President, Commercial & Real Estate Banking,First Calgary Financial
Robert Perkins, Managing Partner, Trez Capital


Session C4:
INVESTMENT ACTIVITY IN CALGARY: FROM RECENT TRANSACTIONS TO UNDERSTANDING VALUATIONS

Hear an insightful discussion about investment activity in the Calgary market. The session will open with a brief overview of some of the bellwether transactions over the past twelve months. The panel will address a range of questions including: given cap rate compression on the one hand and the abundant availability of low priced capital on the other, what have been the major challenges facing investors trying to buy assets; where are cap rates at this time and where do they appear to be heading; which asset classes might see activity in 2013; how do investor attitudes vary from institutional vs. private and domestic vs. offshore; and how does Calgary compare with Edmonton as well as other Canadian markets? This session will feature a comprehensive discussion on current trends from the perspective of commercial realtors and investors.

John O’Bryan

Garry Beres

Hannes Kovac

Bruce Traversy

Michael Turner

Moderator:
John O’Bryan
, Vice Chairman, CBRE Limited

Panel:
Garry Beres
, Senior Vice President, CBRE Limited
Hannes Kovac, President & CEO, OPUS Corporation
Bruce Traversy, Principal, Investments, Dundee Real Estate Asset Management
Michael Turner, Senior Vice President, Investments, Oxford Properties Group Inc.


3:10 PM
AFTERNOON REFRESHMENTS

3:15 PM
EXECUTIVE ROUNDTABLE DISCUSSION: FROM THE LEGENDS TO TODAY’S GUNSLINGERS
This panel will include a wide-ranging discussion on the key trends, opportunities and risks emerging in the office, industrial, retail and multi-unit residential markets in Calgary. Participants will include long time past and present senior real estate executives. Among the questions that will be discussed what do you like about the Calgary market and what concerns do you have; what impact is the volatility in the global economy having on your strategy over the next twelve months; is liquidity being threatened by the issues in the U.S. and European economies in particular; where do you see the real estate cycle heading over the short to medium term in Calgary by asset class; what are you buying or selling, and where are you buying or selling; what plans do you have with respect your existing Calgary portfolio; and to what degree are you optimistic vs. pessimistic over the short and medium term?

Don Fairgrieve-Park

Ron Ghitter

Paul Kennedy

Arthur Lloyd

Jon Love

Moderator:
Don Fairgrieve-Park
, Senior Vice President, Real Estate Services, Calgary/Winnipeg, Bentall Kennedy (Canada) LP

Panel:
Ron Ghitter
, Chairman, Bentall Kennedy LP, former Member of Provincial Parliament,retired from the Senate of Canada, Founder of law firm Ghitter & Company
Paul Kennedy, former Chairman and President of GWL Realty Advisors, andformer President of Trizec Office Properties
Arthur Lloyd, Executive Vice President, Investments, Western North America,Ivanhoé Cambridge, founding shareholder of Killam Properties, former President & CEO, TGS North American REIT and former SVP, TrizecHahn Corporation
Jon Love, Managing Partner, KingSett Capital and former President & CEO,Oxford Properties Group Inc.


4:15 PM
CLOSING REMARKS

4:20 PM
NETWORKING RECEPTION