2013 Program

7:00 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
WELCOME & GREETINGS

Introduction:
Renzo Farronato
, Vice President, Commercial Services, FCT

Randy Cameron

Forum Chairman:
Randy Cameron, Interim President & CEO, Dundee Industrial REIT


8:05 AM
CAN ANYONE CORRECTLY GUESS WHERE THE ECONOMY IS HEADING?

The opening presentation will examine the North American economic landscape including GDP and employment growth, interest rate trends, inflation, and currency values. Is the U.S. recovery now in full motion? How much turbulence can be expected over the next fifteen months as a result of continuing issues in Europe and the uncertainty in many emerging markets? What will be the impact of the decisions on the two pipelines and of the recent flood on Alberta’s economy? 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?

Warren Jestin

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


8:30 AM
UNCERTAIN PRICING, THE CONTROVERSIAL PIPELINES AND OTHER ISSUES AND TRENDS AFFECTING ALBERTA’S HYDROCARBON MARKET

Major concerns are emerging about whether the Alberta energy sector can anticipate a stable growing market. The issues begin with whether the Keystone and Northern Gateway pipelines will be approved by the governments in the U.S. and British Columbia respectively. Discussion has also focused on the ongoing debate over the impact of petroleum extracted from the oil sands on greenhouse gas emissions. Coupled with this issue are questions about future oil demand from the U.S., the outlook for the natural gas sector, and the unpredictability about the pricing of both commodities. How do the capital markets view the oil and gas market at this time? What are their concerns? Have the issues reached a point wherein Bay Street is shutting off the financial taps to the oil patch? What does the future hold for the juniors at this time? These and many other issues will be addressed.

Larry Beasley

Martin Molyneaux

Greg Stringham

Introductions:
David Allison
, Director, Braun/Allison Inc.

Speakers:
Martin Molyneaux
, Vice Chairman, FirstEnergy Capital Corp. 

Greg Stringham, Vice President, Markets & Fiscal Policy, Canadian Association of Petroleum Producers 


9:15 AM
CALGARY’S STRATEGY FOR DENSIFICATION AND MIXED-USE: IS THIS THE CANADIAN TREND AND WILL MARKET FORCES SUPPORT AND SUSTAIN IT?

Calgary’s City Council and administration are trying to curb sprawl and change the footprint of the city as a 725 square-kilometre metropolis of only 1.15 million people. Tapping unused downtown lands, their strategy calls for the creation of sustainable, higher density, mixed-use communities, with an emphasis on “live, work, play and learn”. They also want a variety of transport modes, unlike the expansive auto-centric approach of Calgary’s past. To what extent are these planning policies consistent with similar transformations that are underway across the country in Canadian inner cities and suburban transit centres? Is there enough genuine demand for sustainable profitability in these new strategies? Can we engender new demand? Most importantly, can we bring these innovative urban practices in line with market forces to create strong ongoing opportunities for building and selling this new urban vision? This presentation will offer tangible examples and fresh thinking on these trends and questions.

Larry Beasley

Speaker:
Larry Beasley
, Founding Principal, Beasley and Associates, Planning Inc.

Larry Beasley was the long-serving Chief Planner for the City Of Vancouver. He is largely credited with the transformation of its downtown core along “New Urbanist” lines, known as Vancouverism or “The Vancouver Model”. He now advises cities and developers across Canada and around the world. In 2004, he was made a Member of the Order of Canada in recognition of his contribution to contemporary urbanism


9:50 AM
MORNING REFRESHMENTS

10:20 AM
CONCURRENT SESSIONS (Select A1, A2, A3 or A4)
Session A1:
THE CALGARY 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 with a vacancy rate of 6% and evidence that suggests another development cycle might be underway. In the meantime, vacancies in the Beltline and the suburban markets are approaching 11% and 9% respectively. However, are there some contrarian forces at work? On the one hand, Imperial Oil will be moving to a new campus style development in Quarry Park. But other major energy companies are doing the opposite and looking for large blocks of space in the downtown market. And TELUS and Shaw Communications have unveiled plans for separate major mixed-use developments in the core that will also include significant office space for their corporate needs. This session will examine all three parts of the Calgary office market and provide a variety of forecasts taking into account the challenges facing the energy sector.

Greg Kwong

Peter Mayerchak

Doug McGregor

Bill Richards

Alex Wong

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

Panel:
Peter Mayerchak
, Executive Vice President & Partner, Suburban Leasing and Sales, Colliers International
Doug McGregor, Senior Vice President, Leasing, Western Region, Artis REIT
Bill Richards, Vice President, Leasing, Bentall Kennedy (Canada) LP
Alex Wong, Executive Vice President, Avison Young

Session A2:
THE CALGARY AIRPORT REGION, THE LRT EXPANSION, THE RING ROAD: FACILITATING DEVELOPMENT OPPORTUNITIES IN THE GREATER CALGARY AREA

Public infrastructure is a very significant element that supports the growth of the Calgary market and in turn the market for development activity. This session will examine four major transit and transportation infrastructure projects providing insights into what has been achieved to-date and what planning remains to complete each project goals. Discussion will focus on: the ongoing expansion of the Calgary Airport (Canada’s longest runway, more leasing) which as a result will be 12 times larger than it was in the late 1970s; the development opportunities that are being created in and around the Calgary Airport area; the revitalization of fifteen LRT station platforms to handle four train cars rather than three; the completion of the $1.4B LRT West line and the plans for additional C-train expansion in all directions; and the progress with the Ring Road which has been completed in the northwest and northeast and is currently under construction in the southeast. How does all this infrastructure facilitate additional commercial and residential development activity in Calgary?

Doug Porozni

Bill Bird

Mark Bowen

Ann Coffin

Moderator:
Doug Porozni
, Vice President, Development Ronmor Developments Inc.

Speakers:
Bill Bird
, Senior Vice President, Industrial, WAM Development Group
Mark Bowen, Group Leader, Structural Engineering Team, Read Jones Christoffersen Ltd.
Ann Coffin, Transportation Planner, Alberta Transportation

SESSION A3:
THE GROWTH OF REITS AND THEIR ROLE IN THE REAL ESTATE MARKET

This year marks the 20th anniversary of the arrival of Real Estate Investment Trusts (REITs) in Canada. What is more significant is the unprecedented number of new REITs that have been created this year. Sixteen and counting. This session will examine the REIT concept and suggest why some real estate owners are accessing the capital markets to launch IPOs and new REIT structures. Among the many questions that will be examined: How do you create one? What are the ideal strategies to do so and the benefits to the private owner? What is the minimum size in NAV in order for a new REIT to be a viable option? When interest rates begin to rise, how will they affect REITs? Under what circumstances can a REIT be a developer? Is the timing to launch a REIT still appropriate?

Blair Sinclair

Joel Armitage

Bill Bird

Paul Derksen

Todd Yuen

Moderator:
Andrew Phillips
, Managing Director and Head of Real Estate, TD Securities Inc.

Speakers:
Todd Cook
, President & COO, Northern Property REIT
Neil Downey, Managing Director & Real Estate Analyst, RBC Capital Markets
Shant Poladian, President & CEO, FAM REIT
Darin Rayburn, Chief Executive Officer, Melcor REIT

SESSION A4:
MULTI-UNIT RESIDENTIAL: WHY NEW DEVELOPMENT CAN BE MORE VIABLE THAN BUYING EXISTING ASSETS

As Calgary continues to enjoy strong population growth, the short and medium term outlook for the multi-unit residential market is one of many bright lights among owners and investors as well as tenants. Notwithstanding the return of the condominium market, vacancy rates in multi-family buildings continue to be in the very low single digits. Investor appetite for this property class is so strong that pricing has hit record high levels. Cap rates are so low that they have contributed to making new rental development feasible. There are at least six developers building apartments in the Calgary market. For even though there have record prices on apartment transactions in major markets acoss Canada, there is a lack of available quality product available for buyers. This session will examine all of these trends

Melvin Foht

David Down

Stephen Knight

David Miner

Stefan Savelli

Moderator:
Tim Sommer,
Senior Vice President, Investment Sales, Capital Markets, Cushman & Wakefield Ltd.

Panel:
Matthew Boukall
, Director, Research, Valuation & Advisory, Residential Advisory Services, Altus Group Limited
Jeff Hyde, VP, Development, GWL Realty Advisors Inc.
Mark Kenney, COO, CAPREIT
Toby Wu, Vice President, Asset Management, Bentall Kennedy Canada


11:25 AM
CONCURRENT SESSIONS (Select B1, B2, B3 or B4)
SESSION B1:
CASE STUDY OF THE HUNDRED YEAR FLOOD: WHAT HAPPENED, HOW WAS IT MANAGED AND WHAT ARE THE NEXT STEPS?

In June 2013, Alberta experienced a heavy rainfall that triggered catastrophic flooding that is considered to have been the worst in the province’s history. A total of 27 local states of emergency were declared as water levels rose and numerous communities were placed under evacuation orders included downtown Calgary. Over 100,000 people were displaced throughout the region. Preliminary estimates suggest damage from the flood will be in the range of $3 to 5 billion. This session will examine some of the challenges facing emergency management officials and building owners as they worked to minimize damages and return the city to normal. This will include the role played by the Calgary Business Recovery Task Force. What can be done to mitigate the damage of any future natural disasters and floods?

Mark Kolke

Christopher Becks

Bruce Burrell

Lee Rogers

Dave Wittal

Moderator:
Mark Kolke
, President, MaxComm Communications

Panel:
Christopher Becks,
Director, Real Estate Management, Oxford Properties Group
Bruce Burrell, Director, Calgary Emergency Management Agency
Lee Rogers, President, Rogers Insurance Ltd.
Dave Wittal, Director-Building Operations, Strategic Group

SESSION B2:
THE CHANGING LANDSCAPE OF THE RETAIL MARKET AND THE IMPLICATIONS FOR CURRENT TENANTS AND OLDER FORMATS

The Canadian retail market is undergoing 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. The other is the accelerating growth in e-commerce and online shopping. What is the initial impact that these two trends are having 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 2014?

Alistair Corbett

Clint Elenko

Marcia Grant

Ryan Rutherford

Chris Wood

Moderator:
Alistair Corbett
, Vice President, CBRE Limited

Panel:
Clint Elenko,
Vice President, Development, Canadian Tire Real Estate Limited
Marcia Grant, Senior Director of Leasing, The Cadillac Fairview Corporation Ltd.
Ryan Rutherford, Associate, Avison Young (Canada)
Chris Wood, Principal/Broker, Northwest Atlantic (Canada) Inc.

SESSION B3:
PARADE OF MAJOR NEW PROJECTS AND MIXED-USE DEVELOPMENTS

From stand-alone industrial, retail, office and residential projects to major mixed-use communities and multi-use buildings, Calgary has a significant amount of construction and development underway. This session will provide an overview of the many of the large scale projects underway and some of the developments that have been announced with a commencement in the next year or two. How are mixed use projects really performing? City planners love them…what do developers and users think? How much of the activity is in the downtown or inner city areas vs. suburban locations? What are the major reasons responsible for the scale and the type of projects? Is there any danger that on the risk cycle that there is too much development activity being undertaken?

Vince Dods

Stuart Craig

Iain McCorkindale

Warren Paulsen

Robert Proud

Moderator:
Vince Dods
, Partner, Gibbs Gage Architects

Panel:
Stuart Craig
, Vice President, Planning & Development, RioCan Management Inc.
Iain McCorkindale, President, M2i Development Corporation
Warren Paulsen, Vice President, Commercial, Brookfield Residential
Robert Proud, Managing Director & Chief Investment Officer, Triovest Realty Advisors Inc.

SESSION B4:
A NEW ALIGNMENT IS EMERGING BETWEEN BUSINESS STRATEGY, REAL ESTATE, CORPORATE CULTURE, AND A SUSTAINABLE WORK ENVIRONMENT

A paradigm shift is occurring in the corporate office with the changing nature of the multi-generational workplace. Some of this starts with the wide-range in an organization’s demographics: from seasoned veterans and baby boomers to generation X and millenials. These four groups represent major differences with respect to their approach to work and the skills and tools that they require with the integration and impact of technology on today’s corporation. One net result is as little as 9% actual desk utilization or three hours per weekday. Companies are now looking at space in new ways that enhance ICT investment, productivity and redefines the culture. They want seamless access to information, knowledge sharing, collaboration and productivity returns that also assist staff recruitment, retention, and branding. How is this creating a demand for higher building performance, innovative office design, efficient space utilization, and sustainability? How are tenants dramatically reshaping and innovating the office workplace? How are theyengaging employees in this process and strategy?

Sheila Botting

Tim Low

Nila Leiserowitz

Andrew MacLachlan

Moderator:
Sheila Botting
, Senior Practice Partner, Client Cabinet & National Leader, Deloitte Real Estate

Panel:
Tim Low,
National Director of Leasing, Allied Properties REIT
Nila Leiserowitz, Managing Principal, Gensler
Andrew MacLachlan, Executive Vice President, Jones Lang Lasalle Real Estate Services


12:25 PM
INFORMAL LUNCHEON & NETWORKING OPPORTUNITY
RECEPTION

1:15 PM
LUNCHEON KEYNOTE: BUILDING A WINNER!

Brian Burke

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

Speaker:
Brian Burke
, President – Hockey Operations, Calgary Flames Hockey Club (download video of presentation)


2:10 PM
CONCURRENT SESSIONS (Select C1, C2, C3 or C4)
SESSION C1:
CASE STUDY OF THE BELTLINE: HOW HAS THIS INNER CITY AREA BEEN TRANSFORMED OVER THE PAST TWENTY YEARS?

The Beltline is a neighbourhood that has been in significant transition over the past few decades. Along with the Rivers District and the Downtown East Village, the Beltline has been part of an ambitious urban planning and rejuvenation venture planned by the City to increase the residential density of central Calgary. The vision for this area on the fringe of the downtown core has been one of a mixed-use neighbourhood that would include a range of commercial uses integrated with high density condominium and apartment towers. For office users, it has offered an alternative to the high rents of downtown proper. This session will examine the evolution of the revitalization and densification activities in the Beltline beginning with a brief look at what has transpired over the past twenty years. Discussion will then focus on the key question of what development is currently underway in the Beltline and lies ahead for this key area. It represents an opportunity for inner city densification that integrates residential, retail, office and entertainment uses: a true example of live, work, play and learn.

Randy Ferguson

Owen Craig

Roger Navabi

Chris Ollenberger

John Torode

Moderator:
Randy Ferguson
, COO, Strategic Group

Panel:
Owen Craig
, Chair, Beltline Planning Group
Roger Navabi, President, Qualex Landmark
Chris Ollenberger, Managing Principal, QuantumPlace Developments Ltd.
John Torode, President, Torode Realty Ltd.

SESSION C2:
THE INDUSTRIAL MARKET IS HOT: HOW LONG WILL THE STRONG DEMAND FOR SPACE AND DEVELOPMENT CONTINUE?

Over the past decade, Calgary has established itself as a major Western Canadian logistics and distribution centre. Following a period of robustdevelopment, the slowdown in the economy brought new construction to a virtual stop. But by 2011, there has been a return of new projects with over four million square feet of new industrial space to be primarily delivered in 2013 and next year. Vacancy rates have dropped to 4.5%. 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 for 2014 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? What does the future hold for second generation space? Can Calgary become an inland port vs. Vancouver for logistics in Western Canada?

Blair Sinclair

Neil Ferris

Michael Hungerford

Jon Mook

Alistair Pickering

Moderator:
Blair Sinclair,
Senior Vice President, Leasing & Development, Triovest Realty Advisors Inc.

Panel:
Neil Ferris,
Associate Vice President, Colliers International
Michael Hungerford, Partner, Hungerford Properties
Jon Mook, Senior Vice President, Industrial Division, Barclay Street Real Estate Ltd.
Alistair Pickering, Director of Real Estate Management Industrial, Oxford Properties Group

SESSION C3:
FINANCE SESSION: HOW DO LENDERS STRESS TEST THEIR DEALS? AN INSIDE VIEW

As commercial real estate investment continues, seemingly unabated, private and public entities alike are attracted to low cost debt capital. Capital markets have a significant role in the supply and pricing of debt capital. What criteria do lenders consider when stress-testing their deals in a rising interest rate environment? What sensitivity analysis do they apply and what metrics are they looking for when underwriting a borrowers loan request? What are the common trends that lenders are experiencing when dealing with financing requests?

Steven Hart

Geoff Coombe

Jeff Govett

Jason Jogia

Dean Proctor

Moderator:
Steven Hart,
Managing Director, CMLS Financial Ltd.

Panel:
Geoff Coombe
, AVP & Regional Director, Commercial Mortgages, Prairie Provinces, Manulife Financial
Jeff Govett, Calgary Regional Head, Commercial Real Estate, HSBC Bank Canada
Jason Jogia, Director & Group Lead, Prairie Region, Scotiabank
Dean Proctor, VP & Deputy Regional Manager, Prairies, Canadian Western Bank

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

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, whathave 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 2014; 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

Peter Cohos

Jason Cottle

Greg Guatto

Bruce Traversy

Moderator:
John O’Bryan
, Chairman, CBRE Limited

Panel:
Peter Cohos,
Managing Director & CEO, Triovest Realty Advisors Inc.
Jason Cottle, Managing Director, RBC Capital Markets Real Estate Group
Greg Guatto, President & COO, Aspen Property Management Ltd.
Bruce Traversy
, Principal, Investments, Dundee Real Estate Asset Management


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 are senior real estate executives with portfolios across the country. 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; what is your view of the U.S. economy at this time; is liquidity being threatened by the issues in the economies in Europe and the emerging markets 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?

Randy Cameron

Michael Cooper

Roman Drohomirecki

Blake Hutcheson

Jon Love

Moderator: 
Randy Cameron
, Interim President & CEO, Dundee Industrial REIT

Panel:
Michael Cooper,
President & CEO, Dundee Realty Management
Roman Drohomirecki, Co-Chief Operating Officer and EVP, Central and Western Regions, Ivanhoé Cambridge
Blake Hutcheson, President & CEO, Oxford Properties Group
Jon Love, Managing Partner, KingSett Capital


4:15 PM
CLOSING REMARKS

4:20 PM
NETWORKING RECEPTION