Day 2 - Thursday, October 15, 2020


9:30 AM
NETWORKING LOUNGE OPEN

10:00 AM
WELCOME & GREETINGS; HIGHLIGHTS FROM DAY ONE

Forum Chair:
Michael Waters
, Chief Executive Officer, Minto Apartment REIT and Minto Group


10:10 AM
KEYNOTE INTERVIEW: THOUGHT LEADERSHIP WITH ROGER GREENBERG THE POTENTIAL IMPACTS OF COVID-19 ON REAL ESTATE: HOW CAN YOU PREPARE FOR WHAT LIES AHEAD?

As the current unprecedented and challenging time continues to evolve, everyone across the real estate industry is looking for answers to an increasing number of questions. At a time like this, thought leadership from the most seasoned CEOs and leaders of the Ottawa real estate community becomes strongly desirable. This interview begins with an assessment of the past several economic recessions that he experienced, e.g. the first half of the 1990s, the dotcom crash of 2001 and the financial crisis of 2008. He will draw upon key lessons learned from his very vast background as we find ourselves facing another recession and asking the questions: Where do we go from here? What should we be planning to do now in preparation once the recovery begins? 

Speaker:
Roger Greenberg, Executive Chairman of the Board, The Minto Group and Chairman of the Board, Minto Apartment REIT

Interviewed By:
Aaron Cameron
, AVP, Commercial Operations, First National Financial LP
Adam Powadiuk, Director, Commercial Financing, First National Financial LP


10:55 AM
CONCURRENT SESSIONS (Select B1, B2 OR B3)
SESSION B1
INDUSTRIAL REAL ESTATE DEMAND CONTINUES TO ACCELERATE: HOW CAN THE NEEDS OF THIS MARKET BE ADDRESSED? WHAT IS ON THE HORIZON?

While it is not a significant sized asset class, the Ottawa industrial market continues to be on fire – as is the case generally across the country. Space availability continues to be at a record low of below 2% combined with record rent levels. Add to this is the unexpected and significant pressures on distribution and logistics to meet the fulfillment needs of the surge in online shopping growth as a result of the pandemic. This panel will provide an overview and understanding of the major trends in this property class, where NERs are heading, current and future investment activity, how active is the development pipeline, and other major characteristics of the industrial market. 

Moderator: 
Nico Zentil
, Senior Vice President, National Investment Team, CBRE Limited

Panel:
James Beach,
Director, Real Estate & Business Development, Broccolini
Joe Iadeluca, Senior Vice President, Asset Management, Dream Industrial REIT
Peter Mcfarlane, Senior Vice President, Investment Operations, Fiera Real Estate
Greg Sweeney, Senior Managing Director & Head of Canadian Real Estate Investments, Manulife Investment Management

SESSION B2
CONSTRUCTION & DEVELOPMENT ACTIVITY ACROSS THE OTTAWA MARKET: WHERE ARE COSTS HEADING? WHAT ARE EXAMPLES OF INNOVATION? WHAT INFRASTRUCTURE PROJECTS ARE UNDERWAY?

Over the past five years and beyond, Ottawa has been experiencing a wide range of development activity. This has ranged from large-scale redevelopment of tranformational properties to smaller infill building within existing neighbourhoods. City staff have been encouraging the redevelopment of large parcels, resulting mainly in mixed-use centres as well as in proximity to existing transit and LRT stations. This session will examine the key lessons that builders have learned from development projects. What are examples of innovative projects? Where are construction costs heading as we move through the pandemic? Aside from the next phase of the LRT, what other infrastructure projects are in the pipeline? How much development is the city likely to see over the next few years?

Moderator:
Miguel Tremblay
, Partner, FoTenn Consultants

Panel:
Stuart Craig, 
Vice President, Development, RioCan REIT
David Hudock, Business Development Manager Canada, PCL Constructors Canada Inc.
Steve Martin, Director, Development, Colonnade Bridgeport
Tim Tierney, Councillor - Beacon Hill - Cyrville, City of Ottawa

SESSION B3
WHAT THE PATH FORWARD FOR COVID-19 LOOKS LIKE? WHAT LESSONS HAVE REAL ESTATE EXECUTIVES & TEAMS LEARNED IN PREPARATION FOR THE NEXT MARKET DISRUPTION?

The session will begin with an insight to the epidemiological path that the pandemic appears to be heading. Will there be a second large wave in the Fall or Winter of 2020/2021 or will there more likely be a series of shorter, smaller surges? What should we expect? What are the prospects and timing for a vaccine? What implications will there be for the overall economy? What stage are we at right now? What do owners and managers of buildings need to understand? The second portion of the discussion will focus on some of the valuable lessons that real estate executives and teams have learned from their experience with the pandemic to this point. What would be major takeaways from this experience if another major market disruption emerges in the future – from a health crisis to a natural disaster?

Moderator:
Hugh Gorman
, Chief Executive Officer, Colonnade Bridgeport

Speaker:
Dr. Vera Etches
, Chief Medical Officer of Health, City of Ottawa

Panel:
William Logar
, Executive Vice President, Asset Management, KingSett Capital
Stephen Nicoletti, Managing Director, Eastern Canada, Manulife Financial


11:55 AM
CONCURRENT SESSIONS (Select C1, C2 OR C3)
SESSION C1
UPDATE ON MULTI-RESIDENTIAL IN OTTAWA: HOW DID COVID-19 IMPACT THIS MARKET PARTICULARLY SENIORS HOUSING? CAN LANDLORDS & PURPOSE-BUILT RENTAL ADDRESS THE AFFORDABILITY ISSUE?

This session will open with an overview of the major trends in the Ottawa apartment market which enjoyed a vacancy rate of less than 1.5% at the begin of the year. And then suddenly the pandemic struck along with accelerated unemployment and a steep decline in immigration. Concerns immediately were raised about rent collection related to the ability of unemployed tenants to pay. Did government programs offset some of these concerns? How has the multi-residential market performed since March? Is it a property class to be own during the current environment? What impact are lower financing costs, lower utility costs, lower repair and maintenance costs and non-existent CAPEX having on the value of these assets. Where are demand and vacancy rates heading now? How much development is in the pipeline? Discussion will also examine the subsector of seniors housing, including its future as we emerge from COVID-19 and evaluate the major issues it posed. Discussion will also focus on affordable housing. Are these programs or other initiatives that landlords and developers can utilize to produce lower priced accommodation?

Moderator:
Aik Aliferis,
Senior Managing Director & Senior Director of Institutional Property
Advisors, Marcus & Millichap

Panel:
Ugo Bizzarri,
Co-Founder & Chief Investment Officer, Timbercreek Asset Management
Phil Fraser, President & CEO, Killam Apartment REIT
Neil Malhotra, Chief Financial Officer, Claridge Homes
Cliff Youdale, Chief Development Officer, Ottawa Community Housing

SESSION C2
ELEVATING ARCHITECTURE & DESIGN: JUST HOW FAR CAN YOU PUSH THE LIMITS ON A PROPOSED DEVELOPMENT OR REVITALIZATION PROJECT?

With city building being significant ongoing activity, one question is: how far can owners and developers be pushed by architects to incorporate innovative design of the project? This applies to any newly constructed use as well as retrofitting the built environment. Are municipal officials keen to accept and approve “thinking outside the box”? This session will feature four primarily young architects who will address these questions and suggest a range of possibilities.

Moderator:
Brian Casagrande,
Partner, FoTenn Consultants Inc.

Panel:
Ryan Koolwine,
Principal, Project1 Studio
Andrew Reeves, Principal & Founder, Linebox Studio
Samantha Schneider, Principal, Christopher Simmonds Architect
Rick Shean, Principal & Owner, Shean Architects

SESSION C3
HOW ARE INNOVATION & TECHNOLOGICAL ADVANCEMENTS IMPACTING THE VALUE OF EXISTING BUILDINGS, NEW DEVELOPMENT AND THE CORPORATE BOTTOM LINE? WHAT CRITICAL ROLE CAN DATA QUALITY PLAY?   

Technological innovation is transforming the world at unprecedented speed and the real estate market and industry is not exempt from this trend. This applies to both new development as well as existing assets. It can be even more important within the real estate enterprise itself. How are you using technology to work smarter, operate your buildings more efficiently, and manage your business more profitably? Technology can be used to produce a considerable and growing amount of data by asset or by portfolio. But what is particularly important among these metrics and analytics and what is not? What are some current innovations that can impact the quality and operation of your real estate assets, your portfolio, and your firm? 

Moderator:
Dave Wallace,
Chief Operating Officer, The Regional Group

Panel:
Peter Altobelli
, Vice President, Sales & General Manager, Canada, Yardi
Michael Crook, Senior Vice President, Product Management, Altus Analytics, Altus Group
Terry Young, Vice President, Operations, KRP Properties


12:40 PM
NETWORKING LOUNGE

1:20 PM
THE INVESTMENT ROUNDTABLE ON THE OTTAWA MARKET: WHAT IMPACT HAS COVID-19 HAVE ON TRANSACTION ACTIVITY? WHAT ARE BUYERS LOOKING FOR? WHERE ARE CAP VALUES HEADING?

An insightful discussion with a cross-section of senior executives responsible for investment decision-making representing a wide range of national real estate organizations: from private equity funds to institutional investors. To what extent did transaction activity pause during Q2 and the acceleration of the pandemic? How strongly has it recovered? What are investors’ perspectives on Ottawa’s fundamentals, what attracts them to this market, and what is their strategic thinking going forward?  Among the other questions to be examined:

·As current and prospective investors in the Ottawa market, what property classes and quality of assets are you looking for?
·What does it take to complete an investment deal in this market? Is it still challenging to determine asset values? Where are cap rates heading?
·What are you buying or selling and why are you buying or selling?
·What will be your strategy for 2021 and beyond in this market?
·Where in the cycle do you see the Ottawa market?
·What property classes will likely offer the best returns in 2021? Why?
·Is Ottawa now considered a top tier market for Canadian investors?

Moderator:
Michael Waters,
Chief Executive Officer, Minto Apartment REIT and Minto Group

Panel:
Colin Baryliuk
, Executive Managing Director, Investments, KingSett Capital
Simon Holmes, Co-Head Managing Director, Canadian Investments, BentallGreenOak LP 
Devon Howsam, Vice President, Acquisitions & Asset Management, Crestpoint Real Estate Investments
Blair McCreadie, Head of Canadian Real Estate and Fund Manager, Fiera Real Estate
Jaime McKenna, Managing Director, Group Head of Real Estate, Fengate Asset Management

 


2:15 PM
CLOSING REMARKS

2:20 PM
NETWORKING IN THE LOUNGE