UDI Real Estate Evening
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The most important networking event in the real estate industry. More than 700 decision makers will be in attendance.

A culinary experience inspired by Montréal’s neighbourhoods

6:00 pm – 9:00 pm
Gare Windsor Salle Des Pas Perdus, 
1160, Avenue des Canadiens-de-Montréal

Tickets must be purchased for this event.

INTRODUCTION

André Boisclair, President & CEO, Urban Development Institute of Québec

WELCOMING & OPENING COMMENTS

Conference Chair:

Yves-André Godon, Senior Vice President, Montréal Region, Bentall Kennedy

An insightful presentation on the economic fundamentals that are driving the Canadian economy in general and the potential performance of Quebec in particular. What is the outlook for economic growth, employment growth, inflation, interest rates, and commodity prices over the next twelve months? Where are Canadian interest rates heading? How strong will the U.S. recovery continue to be throughout 2018? How do the prospects for Montreal compare with other major Canadian cities? What is the outlook for the engines of the Montreal economy, the housing market and the prospects for economic growth in this metropolitan area?

Guest Speaker:

Clément Gignac, Senior Vice President & Chief Economist, Industrial Alliance

THE FUNDAMENTALS UNDERLYING MONTRÉAL TODAY: WHY IS THIS CITY VIBRANT AND ATTRACTING STRONGER CANADIAN AND FOREIGN ATTENTION?

Greater Montreal is on fire. The city is increasingly capturing the attention of domestic and global business with its wealth of opportunities and superior quality of life. Montreal offers the most competitive operating costs of all North American metropolitan areas, and attracts business with financial and tax credits for investment, R&D, job creation, and training. No one tops Montrealers for creativity and innovation. These strengths have made the city a hot spot for life sciences, aerospace, information and communications technology and is considered the cultural capital of Canada. Two elements found in many of today’s successful cities are a broad range of strong economic drivers coupled with a vibrant population and culture that inspires and attracts an intellectual market of residents. This presentation will examine why Montreal has these characteristics.

Mario Lefebvre, Vice President, Research, Global Real Estate Markets, Ivanhoé Cambridge 

HOW HOT IS THE MONTREAL REAL ESTATE MARKET PERFORMING FROM A LEASING AND INVESTMENT PERSPECTIVE?

An overview of the performance of the office, industrial, retail, and multi-unit residential markets in Montreal over the past twelve months. Where are vacancy rates and cap rates trending at this time? Can the Montreal market absorb new space? What are the major demographic, capital, and investment factors influencing the market? What is the outlook for 2018 and beyond?

DEVELOPMENT ACTIVITY IN THE GREATER MONTRÉAL MARKET: A 360° OVERVIEW

How much development activity is currently underway, how much has been completed during the past year, and what is ready to be undertaken.

Jean-Bernard Parenteau, Director, Communications and Strategic Development, Altus Group

SPOTLIGHT ON TWO SIGNIFICANT PROJECTS

Development activity on and off the island is experiencing some unprecedented levels. The discussion will examine examples of two projects and what is their significance to the Montréal market.

Moderator:
Tom Godber, Principal, Avison Young Québec

Panel:
Luc Fortin, Vice President, Development, First Capital Realty
Roger Plamondon, President, Real Estate Development & Acquisitions, Broccolini

10:50 AM

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

SESSION A1:
THE ONGOING EVOLUTION OF THE MONTREAL OFFICE MARKET: FROM NEW DEVELOPMENTS TO THE RENEWAL OF EXISTING BUILDINGS

With more than 90 million sq.ft. of space, the Montreal office market experienced a decrease to the 10% vacancy level. There are some signs that the new space absorption is greater than some have anticipated with increasing occupancy. What were the major reasons for these trends? With a number of more new developments nearing completion, what are the major challenges to achieving greater absorption in this market? How have the suburbs fared relative to downtown and midtown? What are owners of older legacy towers, B and C class properties doing to try to compete against the attributes offered by the new green certified technologically advanced buildings? What is the impact of tenants rethinking their workplaces and space requirements? What are the key priorities of major tenants with expiring leases? Are leasing trends in step with valuations and cap rates? Is this a tenants’ market or a balanced market?

Moderator:
Michal Kuzmicki, Vice Chairman, BFIN

Panel:
Lloyd Cooper, Vice Chairman, Office Leasing, Montréal, Cushman & Wakefield
Tim Low, Vice President, National Leasing, Allied Properties REIT
Bernard Poliquin, Senior Vice President, Office – Québec, Ivanhoé Cambridge
Brian Salpeter, Senior Vice President, Development, The Cadillac Fairview Corporation Limited

A panel discussion will examine the debt market and what borrowers can expect for the remainder of 2018 and beyond. This will include comparative insights from a cross-section of lenders including Schedule A banks, large pension funds, lifecos, mortgage investment corporations and other alternatives. To what extent are their priorities, underwriting and strategies varying at this time? How are they assessing a transaction and pricing it in this market? To what extent are rising bond yields and government regulations affecting interest rates and spreads? Are there any property classes that they are avoiding or reducing exposure to? Case studies of actual transactions including smaller projects will be examined during the session.

Moderator:
Alison Chave, Vice President, National Practice Lead, Debt Capital Markets, Canada, JLL

Panel:
Peter Dimakarakos, Vice President, Head of Origination,Trez Capital
Vincent Faustini, Regional Vice President, Equitable Bank
Sarah Mashhady, Director, Otéra Capital
Daniel Simunac, Country Head, Canada, Raymond James Bank, N.A.

SESSION A3:
AN UPDATE ON MAJOR ELEMENTS OF THE MULTI-RESIDENTIAL MARKET:  CONDOMINIUMS, RENTAL APARTMENTS AND STUDENT HOUSING

The session will bring some clarity to major elements of the rental and higher density housing markets in Montreal. How are the condominium and rental housing markets performing? What will be required in order for condominium development to continue throughout 2018 and beyond? How much new purpose built rental apartments is on the horizon? How strong are the opportunities in related niche rental markets, e.g. student housing? To what extent is multi-unit residential transforming the inner city areas of Montreal?

Moderator:
Marc Hetu, Vice President & Co-Leader, National Apartment Group, CBRE Limited

Panel:
Jean-Marc Bélanger, Vice President, Operations, COGIR Real Estate
David Owen, President, Mondev Construction
Marie-Anyse Pin, Managing Director, Québec, CAPREIT
James Wilson, Vice President, Investment Management, Realstar Management

SESSION A4:
ATTRACTING, RETAINING, DEVELOPING & ENGAGING MILLENNIALS – THE FUTURE LEADERS FOR YOUR ORGANIZATION

Talented professionals are the cornerstone of any successful business. With baby boomers increasingly retiring and a smaller (and often much more demanding) pool of talent in Gen Y and Gen X, organizations are trying to plan for succession, develop younger talent, and create a work environment that can win the next generation. How do you attract “best in class” employees who have appropriate skills to eventually fill mid and senior level jobs? What would make a millennial want to join and invest back into your company? How can you attract future leaders and maintain a talent pipeline for your company? How do you keep them engaged to ensure that they do not exit too soon? What values and new sets of skills will they bring into your organization? Why are diversity, inclusion, sustainability and other values key to attracting and keeping this generation of talent?

Moderator:
Yves Devin, Adjunct Professor, HEC Montréal

Panel:
Joseph Broccolini, Executive Vice President, Broccolini Construction
Michael Broccolini, Vice President, Business Development & Finance, Broccolini Construction
Teresa Broccolini, Director, Property Management, Broccolini Construction
Richard Hylands, President, Kevric Real Estate Corporation
Sébastien Hylands, Senior Director, Business Development, Kevric Real Estate Corporation

11:50 AM

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

SESSION B1:
MONTRÉAL’S NEW PARADIGM AS A GLOBAL LEADER IN TECHNOLOGY

The Montréal economy's good performance is not the result of a spontaneous movement. With 250 university researchers and technological innovation moving at unprecedented speed, Montréal is now the world’s 2nd largest hub in artificial intelligence. With its clean energy, its affordable and stable energy costs, and the proximity of the technology sector, the metropolitan area is well engaged in the transition to energy sustainability. However, despite a broad consensus, the municipal administration is slow to relieve non-residential taxation. Is Ecofiscality at our doorstep? Three elements that will be examined: how has this city has emerged as an artificial intelligence powerhouse; why is Montréal the largest growth market in Canada for data centres? And how can we establish a cohesive fiscal plan?

Moderator:
André Boisclair, President & CEO, UDI Québec

Panel:
Vincent Bérubé, Partner, Montréal, McKinsey & Company
Eric Filion, Vice President, Customer Service, Hydro-Québec Distribution
Anne-Marie Hubert, Québec Managing Partner, Consultative Services, EY Canada

SESSION B2:
INDUSTRIAL REAL ESTATE MARKET: IN WHAT DIRECTIONS ARE DEVELOPMENT, LEASING AND INVESTMENT TRENDS HEADING?

The Montreal industrial market has performed with considerable stability over the past few years. The session will open with a brief examination of current and projected investment trends, vacancy and absorption rates, and prevailing NERs. A comparative discussion will follow on off-island markets (e.g. the South Shore and Laval) vs. the challenges in more mature markets closer to the city (e.g. St. Laurent, Pointe Claire, Lachine, East End). What is the outlook for the next 12 months? What is driving the demand for new development especially for the logistics market? What plans in the Port of Montreal will create growth for the industrial market? What does the future hold for the older industrial properties and the repositioning of obsolete buildings? Can they be sold for a premium to investors with redevelopment or renewal plans? Is e-commerce showing impact in the industrial market?

Moderator:
Jean-Marc Dubé, Senior Vice President, Colliers International

Panel:
George Geracimo, Senior Vice President, Commercial East, Triovest
Bruno Goupil, President, Tornatech
Joe Iadeluca, Senior Vice President, Portfolio Management, Dream Industrial REIT
Ian Quint, President, Groupe Quint

SESSION B3:
WHY IS THE SENIORS HOUSING MARKET IN QUEBEC SO SIGNIFICANTLY DIFFERENT FROM THE REST OF CANADA AND NORTH AMERICA? WHAT DO OWNERS AND DEVELOPERS UNDERSTAND ABOUT THE REAL RISKS?

Québec is by far a significant leader in the provision of seniors housing. The province has the largest number of seniors’ buildings and retirement homes in North America. Why? This session will explore the major differences between seniors housing and traditional apartments from a legal, operations, financing, design and other key perspectives. What are the barriers to entry?

Moderator:
Jean-Charles Angers, Managing Director, RBC Capital Markets Real Estate Group

Panel:
Michel Bouchard, Vice President, Real Estate, Group Maurice
Gaëtan Cormier, Executive Vice President, Development, Réseau Sélection 
Nicolas Leblanc, Partner, Co-Head, Real Estate Group, Fasken LLP
Lyne Roy-Payette, Vice President, Real Estate Financing, Desjardins Entreprise

SESSION B4:
THE GROWTH OF SOCIAL DEVELOPMENT WITHIN REAL ESTATE STRATEGIES: HOW THEY CAN CO-EXIST AND PRODUCE VIABLE RETURNS

This session will highlight a growing trend known as “impact investment” and recent real estate projects that are strong examples of this approach. This refers to investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return". Some will take you by surprise simply by the scale of these developments and how they created innovative ways to fund social enterprises and projects with investments that produced both a financial return for the developer and a dividend for society. Do well by doing good.

Moderator:
Natalie Voland, President, Gestion Immobilière Quo Vadis

Panel:
Erica Barbosa Vargas, Director, Solutions Finance, J.W. McConnell Family Foundation
Normand Bélanger, President & CEO, Fonds immobilier desolidarité FTQ
Anastasia Mourogova Millin, Director, Lending & Impact Market Development, Vancity Community Investment Bank
Marc Picard, Managing Director, Caisse d’économie solidaire Desjardins

12:50 PM

1:50 PM

Introduction:

Daniel Desjardins, Sales and Business Development, Quebec l FCT

Vincent Duhamel, Global President & COO, Fiera Capital Corporation

Interviewed by:

2:35 PM

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

SESSION C1:
THE PRESSURES AND THE CONTINUED EVOLUTION OF THE RETAIL MARKET:
EXPERIENCE IS EVERYTHING OR IS IT?

No other real estate property class has attracted as much ongoing attention and range of opinions as retail. We have all watched Canadian, U.S. and European retailers opening stores, closing them or looking for fresh approaches to their formats. There is a range of views on how much online shopping is really impacting the Canadian retail market. The influx of inner city mixed-use and residential developments are opportunities for new urban retail formats. Yet, new to market retailers like Saks Off 5th and Saks @ The Bay are trying to establish a strong presence, that will hopefully help landmark retail properties, but how does that create the right experience todays shoppers seek?

Moderator:
Julie Martineau, President, Real Estate Services, Oberfeld Snowcap

Market Outlook Presentation:
Jean Rickli, Senior Advisor, Sales and Operations, Real Estate, Strategic Planning, J.C. Williams Group

Panel:
Danièle Bergeron, President & CEO, Mayrand Ltd.
Nicolas D'Aoust, Vice President, Leasing The Westcliff Group
Nicolas Désourdy, Vice President Leasing & Partner, Carbonleo
Mitchell Moss, President, Crofton Moore

SESSION C2:
MIXED-USE DEVELOPMENT AND INTENSIFICATION PROJECTS: WHAT IS IN THE MIX?

Inner city development activity continues to sweep across Canadian cities. Montreal is certainly no exception with a wide range of mixed-use developments occurring across the island. The evidence is very strong that successful cities need a vibrant mixed-use core where people gather and where commerce, culture, recreation, entertainment, education and inspiration meet. This session will examine several case studies of major projects in Montreal that have some unique characteristics. What type of innovative projects and city building are underway? What are the key factors responsible for the growth of mixed-use formats? How is the concept of “work, live, play and learn” applying to the downtown Montreal market? What are challenges associated with creating a mixed-use project and its ownership structure that developers need to understand?

Moderator:
Luciano D’Iorio, Managing Director, Québec, Cushman & Wakefield

Panel:
Francis Charron, President, Batîmo & Vice President and CEO, EMD Construction
Terry Fraser-Reid, Vice President Development, Eastern Canada Portfolio, The Cadillac Fairview Corporation Limited
Claude Marcotte, Executive Vice President & Partner, Carbonleo

SESSION C3:
INVESTMENT IN MONTRÉAL: WILL LAST YEAR’S STRONG INTEREST CONTINUE IN 2018? WHO WILL BE THE BUYERS AND WHAT WILL THEY BE LOOKING FOR

Last year, Montreal had one of the strongest investment markets across Canada. 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: What are becoming the major challenges to buy assets in this market? What are the differences between the issues faced by an institutional investor vs. a private equity fund vs. a REIT in acquiring properties at this time? Is Montreal attracting any migratory capital as is the case in a number of other Canadian cities? Where are cap rates likely to be heading by the end of 2018 relative to today’s prices? Which property classes are attracting the strongest interest and will likely offer the best returns? Is it possible to create value from acquiring out-of-favour sites and properties and seeing something that no one else does?

Moderator:
Armand Des Rosiers, Managing Director, RBC Capital Markets Real Estate Group

Panel:
Colin Baryliuk, Executive Managing Director, KingSett Capital
Michael Emory, President & CEO, Allied Properties REIT
Blair McCreadie, Senior Vice President & Fund Manager, Fiera Properties Ltd.
Paul Zemla, President, Investment Management & CIO, Bentall Kennedy (Canada) LP

SESSION C4:
THE EVOLUTION OF DOWNTOWN MONTRÉAL:  WHAT ARE THE MAJOR TRENDS?  WHAT DOES THE FUTURE HOLD?

“The most efficient and productive cities and regions are ones in which people are thinking and working – not sitting in
traffic. The revitalization of older downtown cores combined with transit oriented development in midtown and suburban areas have been underway for a number of years now. The trend is evident in all major urban communities as well as some secondary markets. The history of economic development and of capitalism revolves around the more intensive use of urban space. The coming decades will see greater concentrations of people, increasing densities, and further clustering of industry, work and innovation in cities.”

This session will examine the continuing evolution of downtown Montréal including the revitalization of Sainte-Catherine Street, the
development of new hotels and mixed-use projects, the creation of a luxury retail area, and how properties are being repurposed to serve changing needs of tenants and consumers. What are some of the key projects that are being undertaken by private developers? What is municipal investment is proceeding concurrently? What winning conditions are required to perform the work successfully and maximize the benefits of these investments?

Moderator:
Stéphanie Lincourt, Partner, Richter & President, CREW M

Panel:
Marie-France Desrochers, Vice President, Corporate Accounts, Newmark Knight Frank Devencore
Johanne Marcotte, Vice President, Retail Operations, Ivanhoé Cambridge
Eve Paré, President & Managing Director, Hotel Association of Greater Montréal

3:25 PM

AFTERNOON REFRESHMENTS

3:35 PM

EXECUTIVE ROUNDTABLE DISCUSSION: ASSESSING THE CHALLENGES, STRATEGIES AND OPPORTUNITIES FOR 2018 AND BEYOND FROM THE PERSPECTIVE OF REITS, PENSION FUNDS AND PRIVATE OWNERS

A discussion with senior executives from a range of organizations as they provide their perspective on real estate market fundamentals for 2018 and beyond. 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 that will be examined:

• What are the key challenges, trends, and risks facing investors, owners and developers of office, retail, industrial and multi-unit residential properties in the Montréal market at this time?
• To what extent is the city’s economy on a rebound? What is facilitating stronger growth and more development?
• Where are we now in the cycle? How much of a disconnect is there between investment activity and leasing fundamentals in certain asset classes? What can be expected with respect to investment velocity and deal flow over the next year?
• What are the key differences in strategies facing REITs vs. pension funds vs. private investors?
• What asset classes and transactions will likely offer the best possible returns in 2018?
• Given the extent of development activity in Montreal, do you have any concerns about the market being potentially overbuilt?
• What challenges do you foresee over the next twelve months with respect to a rising cost of capital?
• How do you achieve growth in office, retail or industrial rental rates in this market?

Moderator:
Yves-André Godon, Senior Vice President, Montréal Region, Bentall Kennedy

Panel:
Vincent Chiara, President, Groupe Mach Inc.
Sylvain Cossette, President & CEO, Cominar REIT
Daniel Peritz, Senior Vice-President, Montréal & Ottawa, Canderel
Claude Sirois, President, Retail, Ivanhoé Cambridge