2017 Program

Wednesday, April 19

5:30 PM
CHAIR’S RECEPTION

The Saskatchewan Real Estate Forum Chair’s Reception is taking place in The Regency Ballroom of The Hotel Saskatchewan on Wednesday, 19 April.It is an ideal opportunity for informal networking and meeting with other delegates the evening prior to the Forum and we hope to see you there.The Reception is included in the Forum registration and is nontransferable. Name badges will be provided on the evening.


Thursday, April 20

7:15 AM
REGISTRATION & LIGHT BREAKFAST

8:00 AM
WELCOME AND OPENING REMARKS: FORUM CHAIR
UNDERSTANDING SASKATCHEWAN’S COMPETITIVE ADVANTAGE: HOW RESILIENT IS IT DURING THESE TURBULENT TIMES?

Forum Chair:

Rosanne Hill Blaisdell, Managing Director, Harvard Developments Inc.


8:05 AM
WHAT ARE THE MAJOR ECONOMIC DRIVERS IN SASKATCHEWAN? HOW RESILIENT IS THIS MARKET DURING THESE TURBULENT TIMES?

Within the Canadian context, Saskatchewan has had one of the best economic performances and GDP growth of all provinces since 2010. However, in the past two years, it has faced some challenges. This presentation will examine the most significant elements of this unique market including some global, national trends, economic fundamentals, and their potential implications for Saskatchewan. It will also examine the resilience of the province’s diverse economy for returning to growth. How do the prospects for this market compare with other Canadian provinces? What implications will the decline in oil and other commodity prices have on Saskatchewan?

Michael Gregory, Deputy Chief Economist and Head of U.S. Economics, BMO Capital Markets


8:40 AM
WHAT ARE THE MAJOR CONTRIBUTORS TO SASKATCHEWAN’S COMPETITIVE ADVANTAGE? WHY IS THIS PROVINCE ON TRACK TO BE CANADA’S LEADING ECONOMY?

In the global environment of the 21st century, economies tied to commodities and resources were experiencing the strongest growth until the past few years. However, Saskatchewan is the sixth-best place in the world for mineral investment – out of 93 jurisdictions surveyed across Canada and around the world. Just as importantly, the province has evolved into the most diverse economy in Canada that includes: agribusiness, biotech, a mining industry larger than Ontario’s, fabricated manufacturing, engineering, prospecting, and a hydrocarbons market. World class companies are headquartered here. The speakers will offer some insights on the strong competitive advantage and resiliency that the diverse economy of this province offers.

Moderator:
Bob Kasian
, Partner, MLT Aikins LLP

Speakers:

Murad Al-Katib, President & CEO, AGT Food and Ingredients Inc. is a strategic business and financial thinker in an international agri-food trading and commodity business. Murad founded AGT Foods in 2001, building a Canadian start-up into a global billion dollar value-added pulses, staple foods and ingredients company for global markets. Murad serves on the Board of the Asia Pacific Foundation of Canada and Chairs the Regina Regional Opportunities Commission Board. He was named EY “Canadian Entrepreneur of the Year” in 2016.

Michael Hoffort, President & CEO, Farm Credit Canada joined the organization in 1988 and has served FCC in various positions of increasing responsibilities including Relationship Manager, Vice-President of Partners and Channels, Vice-President of Prairie Operations and Chief Risk Officer. In this latter role, he aligned FCC’s risk management practices with those of federally-regulated financial institutions in Canada. In July of 2014, Michael was appointed to the position of President and Chief Executive Officer.

Andy Kelemen, Vice President, Corporate Development, Agrium Inc. and a member of the firm’s Senior Leadership Team. He is responsible for large business and asset acquisitions and divestitures and has played a major role in Agrium’s growth including the current merger of equals with Potash Corporation of Saskatchewan, the acquisition of the Australia Wheat Board and the successful proxy vote outcome against hedge fund activist Jana Partners.

Craig Lothian, President & CEO, Keystone Royalty Corp. (a land and royalty company), Lex Capital Management Inc. (a private equity fund manager), and Executive Chair & Acting CEO of Villanova 4 Oil Corp. (an exploration & development company). He has over twenty years’ experience in the oil and gas sector, having founded four private energy companies that sold for collective proceeds of more than $300M. Craig also sits on the Board of Greystone Managed Investments and was one of the founding directors of Enterprise Saskatchewan.


10:00 AM
MORNING REFRESHMENTS

11:15 AM
CONCURRENT SESSIONS (Select A1, A2 or A3)
SESSION A1
HAVE THE OFFICE MARKETS IN SASKATOON AND REGINA PEAKED? WHAT CAN WE EXPECT IN THE REMAINDER OF 2017 AND GOING FORWARD?

This session will examine the current trends and future outlook for the office markets in Regina and Saskatoon. Where are the leasing fundamentals in both cities heading at this time? Having had the lowest office vacancy rates in Canada for in past years, Regina has now turned into a tenant’s market. Experiencing a negative absorption, Saskatoon’s office market has also followed this trend. What does the future hold for the downtown and suburban office markets in both cities? What is needed to drive demand to turn the tide? How are Class B properties likely to perform compared to Class A space? What strategies are smaller landlords pursuing in these markets?

Barry Stuart

Ken Achs

Don Atchison

Michael Bischoff

Dale Griesser

Aaron McDougall

Moderator:
Barry Stuart
, Managing Partner, Senior Sales Associate, ICR Commercial Real Estate

Panel:
Ken Achs
, President & CEO, Mid-West Group of Companies
Don Atchison, Canwest Commercial & Land Corp.
Michael Bischoff, Chief Investment Officer, Concorde Properties
Dale Griesser, President & Broker, Avison Young Commercial Real Estate (Sask.) Inc.
Aaron McDougall, Director, Leasing, Harvard Developments Inc.


SESSION A2
HOW HOT ARE LAND AND RESIDENTIAL DEVELOPMENT IN THE GREATER REGINA AND SASKATOON MARKETS?

Saskatoon and Regina continue to entice investors looking to develop land. Aside from demand created by population growth, residential land development activity and housing projects are continuing. They have also been affected by a wide range of factors including: municipal planning policies, the impact of issues with the MDs surrounding the two cities, and the cost and limitations on the availability of serviced land. What is the price and inventory of residential lands in the Regina and Saskatoon markets? Where are land values across the province heading for 2017 and beyond? What is the outlook for housing demand over the longer term? What infrastructure and transportation improvements should be priorities going forward to meet the need of growth in these communities? Where are construction costs heading?

Barry Remai

Denis Jones

Paul Moroz

Kevin Reese

Garth Tomlinson

Brad Zurevinski

Moderator:
Barry Remai
, Remai Group of Companies

Panel:
Denis Jones
, President & CEO, Deveraux Developments
Paul Moroz, Senior Development Manager, Daytona Land
Kevin Reese, President, Karina Developments Ltd.
Garth Tomlinson, Business Development Manager, PCL Construction Management Inc.
Brad Zurevinski, General Manager, Dream Development


SESSION A3
WHAT ARE ENTREPRENEURS DOING IN TODAY’S MARKET TO SUCCEED?

Given the strong investor sentiment in the Canadian market, major opportunities have emerged for entrepreneurialism in the real estate industry. Who are they 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. What have been the most significant challenges that they have had to endure? How do they see opportunities unfolding in the future? What impact will the $2B Regina bypass have on growth, investment and development?

Richard Jankowski

Muir Barber

David Calyniuk

Karl Miller

Tom Williams

Moderator:
Richard Jankowski
, Managing Director, Avison Young Commercial Real Estate (Sask.) Inc.

Speakers:
Muir Barber
, President & CEO, Pinnacle Developments
David Calyniuk, Chief Executive Officer, Land & Commercial Development, North Ridge Development Corporation
Karl Miller, President, Meridian Development
Tom Williams, Vice President, Engineering, Walker Projects


11:35 AM
CONCURRENT SESSIONS (SELECT B1, B2, OR B3)
SESSION B1
HOW IS ONE OF CANADA’S UNIQUE INDUSTRIAL REAL ESTATE MARKETS PERFORMING?

The industrial real estate markets in Regina and Saskatoon are characterized by some of the lowest vacancy rates and higher NERs in the country. This session will examine the current trends that are moving this asset class. To what extent can these two markets become Western Canadian transportation and logistics centres? The panel will also examine other characteristics of the market including: how much space has been added in the past few years; to what extent has there been a resurgence of spec development; how much availability of land is there for additional industrial development; what type of product is in highest demand in Regina and in Saskatoon; and what is the outlook for the industrial sector over the next 12-24 months.

Glen Hill

Rhonda Ekstrom

Michael Hungerford

Frank Long

Eric Wesling

Moderator:
Glen Hill
, Vice President & Partner, Saskatchewan, Colliers InternationalDownload Presentation

Panel:
Rhonda Ekstrom
, Vice President, Business Development, Global Transportation Hub Authority
Michael Hungerford, Partner, Hungerford Properties
Frank Long, Director, Saskatoon Land, City of Saskatoon
Eric Wesling, President, First West Properties


SESSION B2
CREDIT AND DEBT MARKETS:  DOES ANYONE KNOW WHAT LIES AHEAD?  WHERE ARE SPREADS HEADING?  WHAT ARE THE MAJOR SOURCES?

A discussion focusing on the debt market and examining what borrowers can expect for the remainder of 2017 and beyond. While real estate continues to attract strong amounts of investment capital, how are lenders and sources of debt capital viewing the Saskatchewan market? Who are the most active lenders in this province and what are they looking for? How are they likely to assess 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? How available are mezzanine financing and other secondary sources of debt?  Discussion will also briefly examine construction financing and loans for smaller assets and smaller projects.

Ron Margolis

Chase Allen

Paul Herra

Lisa Robichaud

Tim Schroh

Moderator:
Ron Margolis
, President, Margolis Capital – Commercial Mortgage Professionals

Panel:
Chase Allen,
 Vice President, Origination, Canada ICI Capital CorporationDownload Presentation

Paul Herra, Assistant Vice President, Business Development, CMLS Financial

Lisa Robichaud, Vice President, Specialized Sales Force, MSNWO Region, RBC Royal Bank

Tim Schroh, Executive Vice President & COO, Affinity Credit Union


SESSION B3
MUNICIPAL PLANNING & DEVELOPMENT POLICIES AND BEST PRACTICES:  HOW TO SUSTAIN GROWTH, BE COMPETITIVE AND ATTRACT INVESTMENT?

In an ever competitive environment, in which capital is footloose, cities are competing for investment dollars to support municipal growth policies. This session provides opportunity for discussion on the importance of clear municipal rules and regulations, and the need for strong collaborative dialogue between the public and private sectors to support continued real estate investment/development for economic growth. Municipal plans – such as Regina’s Official Community Plan – are dependent upon the private sector for execution to achieve desired economic and population growth.  In addition to tax regimes and labour market considerations, investors are less apt to pursue markets with ambiguous and/or inconsistent rules and regulations that result in higher risk and less certainty. To this end, some of the questions to be explored include: What do the public and private sectors need to learn about each other to improve community competitiveness? What are the sticking points in public-private sector relationship and approval processes? What are leading practices in dealing with sustaining growth and attracting investment? What is the role of the municipality and regulations in real estate development? How are current processes working and how can they continue to improve?

Stuart Wicijowski

Jason Carlston

Darryl Dawson

Diana Hawryluk

Alan Wallace

Moderator:
Stuart Wicijowski
, Partner, McDougall Gauley LLP

Panel:
Jason Carlston
, Vice President, Land Development, Dream Development
Darryl Dawson, Manager of Development Review, City of Saskatoon
Diana Hawryluk, Executive Director, City Planning and Development Division, City of Regina
Alan Wallace, Planning Consultant, V3 Companies of Canada Ltd.


12:35 PM
LUNCHEON
LUNCHEON REFRESHMENTS


1:35 PM
LUNCHEON KEYNOTE PRESENTATION

The business of football, its importance to the province of Saskatchewan, and what lessons real estate executives can learn from this team sport. Discussions will also focus on the new leading-edge Mosaic Stadium.

Introduction by:

Mayor Michael Fougere, City of Regina

Speaker:

Craig Reynolds, President & CEO, Saskatchewan Roughriders


2:25 PM
CONCURRENT SESSIONS (SELECT C1, C2, OR C3)
SESSION C1
INVESTOR INTEREST IN SASKATCHEWAN:  WHO WANTS TO INCREASE THEIR PRESENCE IN THIS MARKET?

An insightful discussion about investment activity in the Saskatchewan 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: What have been the major challenges facing investors trying to buy assets in Regina or Saskatoon? What is the profile of investors who are looking at these markets? With some investors deciding to dispose of their assets, is there any disconnect between supply and demand of product?  Where are cap rates likely to be by 2018 relative to today’s prices? Which product types appear to most strongly favoured by investors? How do the investment markets in Regina and Saskatoon compare with other Canadian cities?

Tom McClocklin

Brian Bastable

Craig Bell

Jonathan Saguy

Tina Svedahl

Luke Schmidt

Moderator:
Tom McClocklin
, President & Managing Director, Saskatchewan, Colliers International

Panel:

Brian Bastable, Vice President, Slate Asset Management LP
Craig Bell, Chief Operating Officer, PIC Investment Group Inc.
Jonathan Saguy, Executive Vice President, Investments, Strathallen Capital Corp.
Tina Svedahl, Vice President, Investments, Harvard Developments
Luke Schmidt, Vice President, Real Estate Investments, Greystone Managed Investments Inc.


SESSION C2
HOW BUOYANT ARE THE RETAIL MARKETS IN SASKATOON AND REGINA FOR INVESTORS, DEVELOPERS AND TENANTS?

This session will examine retail activity in Regina and Saskatoon and the extent of investor, developer and tenant interest in these markets. What are the major differences and similarities between the two markets from a leasing and development perspective? How is the supply and demand balance at this time with respect to the various types of retail formats and tenant interest in these markets? Who are the new retailers expected to be coming into these cities? Differentiation is also a key ingredient between older existing centres and newer projects. What developments are underway or have been completed in either market? How do older retail properties remain competitive? How are all the new and older assets performing? Are there any particular formats and innovations growing in popularity? What lies ahead for retail market activity in Regina and Saskatoon for 2017 and beyond?

Linely Schaefer

Blair Forster

Brad Goerzen

Doug Porozni

Gord Scraper

Theresa Warnaar

Moderator:
Linely Schaefer, Partner, ICR Commercial Real Estate

Panel:

Blair Forster, President, Forster Projects
Brad Goerzen, Senior Vice President, Leasing, Central Region, Artis REIT
Doug Porozni, President, Ronmor Developers
Gord Scraper, COO, Capital Crossing Advisors
Theresa Warnaar, Senior Vice President, Retail, KingSett Capital


SESSION C3
HOW ARE REGINA, SASKATOON AND SECONDARY REAL ESTATE MARKETS ACROSS SASKATCHEWAN ACTUALLY PERFORMING?

An overview of the performance of the office, industrial, retail, and multi-unit residential markets in Saskatchewan over the past twelve months. Where are demand and vacancy rates trending at this time? How much development activity has been completed during the past year? How much is ready to be undertaken? What impact will it have on vacancy? Can the various markets in Saskatchewan absorb all the new space? What is the supply of properties for sale? Where are cap rates and prices trending? What are examples of bellwether transactions? What is the outlook for 2017 and beyond for Saskatoon, for Regina, and for secondary markets?

Rick Brunsdon

Peter Lawrek

Speakers:
Rick Brunsdon
, Senior Partner, Saskatoon, Brunsdon Lawrek & Associates

Peter Lawrek, Senior Partner, Regina, Brunsdon Lawrek & Associates


3:20 PM
AFTERNOON REFRESHMENTS


3:00 PM
CLOSING ROUNDTABLE: ASSESSING THE RISKS, CHALLENGES, STRATEGIES AND OPPORTUNITIES FOR 2017 AND BEYOND

A discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for 2017 and beyond for Regina, Saskatoon and the overall Saskatchewan market.  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 Saskatchewan market?
  • Do they expect the credit and capital markets to continue to be flush with cash for real estate for some time?
  • Where are valuations likely heading in each of the major property classes?
  • Which ones will likely offer the best possible returns in 2017?
  • What can be expected with respect to investment velocity and deal flow in Saskatchewan?
  • What challenges if any do the leasing markets face in Regina? In Saskatoon?
  • What about development challenges?
  • What needs to change in order for the real estate markets in Saskatchewan to reach their ultimate potential?

Rosanne Hill Blaisdell

Michael Cooper

David Dubé

Paul Hill

Darin Rayburn

Moderator:
Rosanne Hill Blaisdell
, Managing Director, Harvard Developments Inc.

Panel:
Michael Cooper
, President & Chief Responsible Officer, Dream Unlimited Corp.
David Dubé, President & CEO, Concorde Group of Companies
Paul Hill, Chairman, President & CEO, The Hill Companies
Darin Rayburn, Chief Executive Officer, Melcor REIT
Executive Vice President, Investment Property Division, Melcor Developments Ltd.


4:30 PM
NETWORKING RECEPTION