2019 Program

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7:00 AM
WESTERN CANADA APARTMENT INVESTMENT CONFERENCE

An In-Depth Examination of the Surging Multi-Unit Residential Market

Enhanced opportunities for networking will be available throughout this year’s conference. CEOs, CFOs and other senior executives of large and small firms that own apartment buildings will be joined by public and private equity investors, pension funds, financial institutions, lenders, commercial real estate brokers, lawyers, accountants, appraisers, and other specialists in real estate finance and valuation.

Please note that a separate registration fee is required to attend the Western Canada Apartment Investment Conference. Select Western Canada Apartment Investment Conference when registering to ensure fees are applied.


7:00 AM
REGISTRATION
CONTINENTAL BREAKFAST

8:00 AM
OPENING REMARKS: PROGRAM OVERVIEW

Eric Slatter

Introduction:
Sharon Ohayon
, President, Edmonton CREW

Eric Slatter, Partner, Omada Commercial


8:10 AM
ECONOMIC OUTLOOK FOR ALBERTA & EDMONTON: WHERE ARE KEY FUNDAMENTALS HEADING?

In 2017, Alberta’s economy had a nation-leading 4.5% GDP growth. What has transpired since then? Growth has been slower and declining. Energy investment has not resurfaced on a significant basis. While population growth continues and household incomes are much higher than in Calgary, the impact of stalled pipeline construction, unexpectedly major pricing differential, and U.S. tariffs has taken its toll on Edmonton’s economy. How is Alberta expected to perform for the remainder of 2019 and into 2020? Where are the key economic fundamentals heading?

Todd Hirsch, Chief Economist, ATB Financial

 
SPEAKER PRESENTATION - Click button to download presentation

8:45 AM
UPDATE ON THE HEADWINDS IN THE ENERGY MARKETS: THE OUTLOOK FOR HYDROCARBON PRICING
AND INVESTMENT 

What is expected to happen with oil and gas prices over the course of 2019 and the foreseeable future? What impact will this have on oil and gas exploration in Alberta and on Edmonton in particular?  What are the implications of the Western Canadian Select differential and what will this mean for the greater economy of Alberta?  This presentation will provide a strategic and insightful update on the Canadian oil and gas sectors, where OPEC policies are likely to be heading in the future, and other geopolitical and economic factors that can affect the hydrocarbon markets.  

Jonathan Stringham

Introduction:
Debbie Robillard
, Regional Vice President, Prairies, FCT

Speaker:
Jonathan Stringham
, Manager, Fiscal and Economic Policy, Canadian Association of Petroleum Producers

 
SPEAKER PRESENTATION - Click button to download presentation

9:15 AM
VALUEGRAPHICS & UNDERSTANDING EDMONTONIANS: WHAT MOTIVATES THEIR DECISION-MAKING? HOW DOES IT IMPACT OFFICE, RETAIL AND MULTI-RESIDENTIAL MARKETS?

Valuegraphics is the world’s first database that is exclusively designed to provide market insights powerful enough to guide strategic thinking. The Founder will explain what Edmontonians really value, want, expect and other important insights that go beyond demographic and psychographic information.  It is an enormous profiling tool that identifies the core values that motivate people to make decisions about all things, large and small. A discussion will follow with a group of developers who will comment on the data and provide their perspectives on how this data could impact the way they do business especially in office, retail and multi-residential projects and markets. Valuegraphics mitigates planning risk. Instead of gut feel, or the opinion of the most powerful person in the room, you can settle on a direction based on very strong and powerful data. 

David Allison

Rohit Gupta

Mike Saunders

Michael Smith

Introduction:
Deborah MacPherson
, Partner, Tax Business Unit Leader, Regions West, KPMG LLP

Moderator:
David Allison
, Consumer Behavior, Marketing Advisor, Valuegraphics Data Pioneer

Panel:
Rohit Gupta
, President, Rohit Group of Companies
Mike Saunders, Vice President, Development, Qualico Commercial
Michael Smith, Senior Vice President, Western Canada, ONE Properties

 
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10:10 AM
MORNING REFRESHMENTS

10:40 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
SESSION A1:
AN INCREASINGLY POSITIVE SAGA OF THE OFFICE MARKET: HIGHEST DEMAND FOR SPACE SINCE 2012

The Conference Board of Canada predicts Edmonton will add up to 17,600 office jobs by 2021. In the meantime, the city’s downtown and suburban office class continues to be a tenant’s market. In the core, vacancy rates have dropped 25% due to strong leasing activity coupled with the removal of some vacant space. While suburban markets were hit hard, only two have vacancy rates above 20%.  How much absorption has there been in the market, and what can be expected in the remainder of 2019 and beyond? While space continue to contract and result in higher rents? What is the outlook for the Edmonton’s downtown and suburban office markets over the next two to three years?

Cory Wosnack

Ken Bautista

Jennifer Jordan

Bryce Margetts

Terri Pozniak

Moderator:
Cory Wosnack
, Principal, Managing Director, Avison Young

Panel:
Ken Bautista
, Partner & Chief Executive Officer, Makespace Group Inc.
Jennifer Jordan, Designer, Jennifer Jordan Interior Design
Bryce Margetts, Vice President, Western Canada, Canderel
Terri Pozniak, Vice President, Western Canada, IWG

 
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SESSION A2:
THE MULTI-RESIDENTIAL MARKET: PURPOSE-BUILT RENTAL, CONDOMINIUMS AND OTHER TRENDS

This session will examine the Edmonton multi-residential market – both rental and condominiums. The discussion will open with an overview of key supply and demand trends. What direction are they heading? How much development activity absorption is the apartment market witnessing? For the third consecutive year, rental supply increased by 4%. Apartment vacancy also began to decline from a 25 year high of 7% in 2017. What were the primary reasons? On the other hand, the condominium market is facing strong headwinds. Inventory is up and prices are down with the largest decrease in the housing sector being suffered by condominiums. Where is this part of the market heading? To what extent are developers strictly focused at producing more purpose-built rental? Why is multi-unit residential gaining so much traction from investors and developers?

Samuel Dean

Raj Dhunna

Henry Edgar

Jayne McKay

Michael Tsourounis

Moderator:
Samuel Dean
, Senior Vice President, Capital Markets, Multi-Family Alberta, JLL

Panel:
Raj Dhunna
, Chief Operating Officer, Regency Developments
Henry Edgar, Partner, Edgar Development
Jayne McKay, Senior Market Analyst, Urban Analytics
Michael Tsourounis, Managing Director, Real Estate Investment Management, Timbercreek Asset Management

 
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SESSION A3:
TECHNOLOGICAL DISRUPTION & TRANSFORMATION: IMPLICATIONS FOR THE REAL ESTATE MARKET LEADING TO INNOVATIVE STRATEGIES

Technology is changing the world at an unprecedented speed and the real estate industry is not exempt from this transformation. The intersection of real estate and technology is referred to as PropTech in addition to smart buildings, smart cities and other terms. Its been said that “Technology changes exponentially; organizations change logarithmically.” You need to understand it, embrace it, and bring it to your decision table at all levels of management. What is the range of strategies that enable you to take advantage of technological innovations for your real estate assets, for your overall portfolio, for your firm, for your clients, and for your best practices? What are the economic benefits and results? What are examples of PropTech initiatives in the Edmonton market? What are some successes across Canada? What is around the corner in technological innovation? When do I start?

Casey Witkowicz

Dave Bentley

Marcin Mizianty

Kent Rochon

Moderator:
Casey Witkowicz
, President & CEO, Rycom Corporation

Panel:
Dave Bentley, Former Assistant Deputy Minister, Properties Division, Alberta Infrastructure
Marcin Mizianty, Vice President, Data Science, AltaML Inc.
Kent Rochon, General Manager, BGIS


11:40 AM
CONCURRENT SESSIONS (Select B1, B2 or B3)
SESSION B1:
THE INDUSTRIAL MARKET IS DOING BETTER THAN YOU THINK: WHY ARE SUPPLY SIDE FUNDAMENTALS STRENGTHENING? 

The Edmonton industrial market is experiencing a further contraction in vacancy rates to below 5% and rents marginally rising. As the overall market tightens, landlords are facing less competition for tenants especially those who want to expand or relocate. What are underlying factors behind the demand for industrial space? How much build-to-suit activity is there? To what extent are new projects being located outside of Edmonton in the surrounding rural municipalities due to overall cost factors and timing of approvals? What major logistical developments are due for occupancy in 2019? How are the needs of tenants and users of industrial space changing?

Grant Ranslam

Jorden Dawson

Marc Harden

Matthew Johnson

Matt Woolsey

Moderator:
Grant Ranslam
, Principal, Industrial, Avison Young

Panel:
Jorden Dawson
, Director, Industrial Development, Beedie
Marc Harden, Vice President, Leasing, Triovest Realty Advisors
Matthew Johnson, Executive Director, Industrial Investments, KingSett Capital
Matt Woolsey, President, York Realty

 
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SESSION B2:
WHAT ASSETS ARE INVESTORS FOCUSING ON IN EDMONTON? HOW STRONG IS THEIR LEVEL OF INTEREST?

This session will assess investment interest and activity within the office, retail, industrial, and multi-residential markets in Edmonton. The session will begin with a brief examination of benchmark transactions over the past twelve months including some record levels of sales. Discussion will then focus on each asset class and determine which ones have the strongest investor interest and why. Where are cap rates trending in 2019? How do investor decisions vary from private equity funds to REITs to privately owned buyers to institutional capital? What do they foresee for the Edmonton market beyond 2019?

Ryan Zacharuk

Michael Cornelissen

Jeff Fleming

Jaime McKenna

Dave Young

Moderator:
Ryan Zacharuk
, Senior Director & General Manager, Valuation & Advisory, Altus Expert Services, Altus Group

Panel:
Michael Cornelissen
, Senior Vice President, Acquisitions, LaSalle Investment Management
Jeff Fleming, Executive Vice President, Investments & Development, GWL Realty Advisors
Jaime McKenna, Chief Investment Officer, Minto Apartment REIT
Dave Young, Executive Vice President, Managing Director, CBRE Limited

 
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SESSION B3:
HOW DO LENDERS VIEW THE LEVEL OF RISK IN EDMONTON? INSIGHTS ON SOURCES, SPREADS AND AVAILABILITY OF DEBT & EQUITY CAPITAL

A discussion focusing on the debt market and examining what borrowers can expect for the remainder of 2019 and beyond. While real estate continues to attract strong amounts of capital, how are lenders and sources of debt and equity capital viewing Edmonton? Where is the cost of capital heading? Who are the most active lenders in this market and what are they looking for? How are they assessing a deal and price it? Are there any property classes that they are avoiding, reducing exposure to, or increasing pricing for? How will the strategies vary among the various types of debt lenders – from major banks and MICs to credits unions and private sources? To what extent of the share of the market grown among non-bank lenders? How available is construction financing and loans for smaller assets and smaller projects?

Brandon Kot

Graham Collings

Ricardo Estrada

Geoff McTait

Carla Woodward

Moderator:
Brandon Kot
, Managing Partner, Edmonton, Canada ICI Capital Corporation

Panel:
Graham Collings
, Executive Vice President, Investments, ACM Advisors
Ricardo Estrada, Senior Director, Commercial Mortgages, Prairies & Territories, Sun Life Financial
Geoff McTait, Executive Director, Head of Origination, Canada, Timbercreek Asset Management
Carla Woodward, Vice President, Real Estate & Construction Services, RBC

 
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12:35 PM
NETWORKING LUNCHEON
LUNCHEON REFRESHMENTS

1:30 PM
LUNCHEON KEYNOTE CONVERSATION
GROWTH, DEVELOPMENT AND INFRASTRUCTURE: WHERE IS EDMONTON HEADING?

One of the key elements underlying the scale and intensity of growth and development are the policies of all 3 levels of government (municipal, provincial and federal). This session will examine the evolution of Edmonton and the growth management policies it is pursuing. How is Edmonton likely to evolve over the next decade? What do building owners, investors and developers need to understand?

Kevin McKee

Tim Cartmell

Don Iveson

Moderator:
Kevin McKee
, President, Pangman Development

Speakers:
Tim Cartmell
, Councillor, Ward 9, City of Edmonton
Don Iveson, Mayor, City of Edmonton


2:20 PM
CONCURRENT SESSIONS (Select C1, C2 or C3)
SESSION C1:
SHIFTING DEVELOPMENT LANDSCAPE IN THE EDMONTON MARKET: URBAN VS. SUBURBS VS. EXURBS

The ongoing transformation of Edmonton and the surrounding municipalities is continuing as the city transitions from construction driven to a mature economy. How is the development community assessing development opportunities in the face of the Municipal Government Act, City Charters, and inflationary pressures? What are some of the city’s strategic investments and how will it impact the way we will develop in the city? How is the city using technology that effects how city builders consider investment? What projects are moving into the RMs, and what projects are moving into the City of Edmonton due to shifting value propositions? Are there any changes in municipal policies on the horizon that will encourage renewal and development within the City?

Kevin McKee

Kalen Anderson

Russell Dauk

Stephanie McCabe

Jodie Wacko

Moderator:
Kevin McKee
, President, Pangman Development

Panel:
Kalen Anderson
, Director, The City Plan, City of Edmonton
Russell Dauk, Vice President, Land Development & Commercial, Rohit Group of Companies
Stephanie McCabe, Deputy City Manager, Urban Form & Corporate Strategic Development, City of Edmonton
Jodie Wacko, President, Beaverbrook Communities


SESSION C2:
WHAT ARE ENTREPRENEURS DOING IN TODAY’S MARKET TO SUCCEED?

Given the strong investor sentiment in the Canadian market, many opportunities have emerged for entrepreneurialism in the real estate industry. In Edmonton, who are some of them and what are they doing? They are experienced at looking for innovation and accessing lower priced capital. They are often privately-owned firms. While they do not dismiss risk, they often have the ability to see value and reward where many others do not. From repurposing older buildings to infill development in vacant spaces, their strategy often requires some creative thinking. What have been the most significant challenges that they have had to endure? How did they successfully overcome them?

John Frederickson

John Day

Chris Dulaba

Chris Hudson

Ian Morgan

Moderator:
John Frederickson
, Regional Vice President, Prairie Region, Colliers International

Panel:
John Day, President, John Day Developments
Chris Dulaba, Placemaker, Beljan Development
Chris Hudson, Vice President, Real Estate Finance, Harbour Mortgage Corp.
Ian Morgan, Principal, NEXT Architecture Inc.

 
SPEAKER PRESENTATION - Click button to download presentation

SESSION C3:
HOW IS THE EDMONTON RETAIL MARKET CONTINUING TO EVOLVE? WHAT IS THE SECRET SAUCE BEHIND ITS VIBRANCY?

No other real estate property class has attracted as much chatter in recent years as retail and its many increased challenges. Canadian, U.S. and European retailers are opening stores, closing them or looking for fresh approaches to their formats. With relatively high household disposable incomes, a growing population and attractive demographics, the retail market in Edmonton continues to perform very strongly. This session will examine these and other factors more closely to provide insights into where retail is heading. How are regional malls performing vs. power centres vs. strip centres vs. grocery anchored centres vs. urban retail? What impact is online shopping having on any of these formats? Facts and fallacies will be discussed from an investor, developer and retailer perspective.

John Shamey

Daniel Eggert

Sarah Itani

Geoff Stollery

Dan Woychuk

Moderator:
John Shamey
, Senior Associate, Cushman & Wakefield

Panel:
Daniel Eggert
, Vice President, Property Development Divison North, Melcor Developments
Sarah Itani, Business Development Manager, Cidex
Geoff Stollery, Vice President, Leasing, Primaris
Dan Woychuk, Vice President, Retail Leasing, Forster Harvard Development Corp.

 
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3:15 PM
AFTERNOON REFRESHMENTS

3:30 PM
CLOSING ROUNDTABLE
ASSESSING THE EDMONTON MARKET: ITS CHALLENGES, ITS STRENGTHS AND ITS POTENTIAL FOR 2019 AND BEYOND

A roundtable discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for the remainder of 2019 and beyond for the Edmonton and the surrounding area. They will offer their insights on what they see occurring over the next twelve months, and their strategic thinking going forward. Among the other questions to be examined:

  • What are the most significant challenges, trends, risks and opportunities for investors and owners in the Edmonton market?
  • To what extent is the conundrum of the oil and gas market holding you back?
  • Where is Edmonton in the cycle at this time?
  • What can be expected with respect to investment velocity and deal flow? What asset classes and transactions will likely offer the best possible returns in 2019?
  • How much growth do you anticipate in rental rates in the Edmonton market and in which property classes?
  • What is it about Edmonton that intrigues many national investors and developers?
  • How would you compare this market with others across Canada?  

Eric Slatter

Alan MacKenzie

Nolan Montgomery

Ted Willcocks

Paul Zemla

Moderator:
Eric Slatter
, Partner, Omada Commercial

Panel:
Alan MacKenzie
, President, Triovest Realty Advisors
Nolan Montgomery, President, Camgill Development Corporation
Ted Willcocks, Global Head of Asset Management, Real Estate, Manulife
Paul Zemla, President, Investment Management & Chief Investment Officer, Bentall Kennedy (Canada) LP


4:25 PM
CLOSING REMARKS

Eric Slatter, Partner, Omada Commercial


4:30 PM
NETWORKING RECEPTION