Thursday, December 5, 2019

7:15 AM
REGISTRATION & CONTINENTAL BREAKFAST

8:00 AM
SUMMARY OF DAY ONE AND THE FOCUS OF DAY TWO

Avtar Bains

Kevan Gorrie

Avtar Bains, President, Premise Properties
Kevan Gorrie, President & CEO, Granite REIT


8:10 AM

Introduction:
Jane Helmstadter
, Partner, Real Estate, Bennett Jones LLP

MAKING SENSE OF THE CANADIAN AND GEO-POLITICAL ENVIRONMENT: FROM FEDERAL & PROVINCIAL ELECTIONS TO THE U.S. & BREXIT

A “fireside chat” with an analysis on what the outcome of the October federal election and various provincial elections in the past year could mean for the Canadian economic and business environment going forward. Added to this will be commentary on geo-political trends such as Brexit and the 2020 U.S. election. Is there a reason for any concern? 

The Honourable John Baird

Jay Hennick

Keynote Guest:
The Honourable John Baird
, Senior Advisor, Bennett Jones LLP and a former Senior Cabinet Minister in the Government of Canada (Foreign Affairs, Environment, Transport & Infrastructure)

Interviewer:
Jay Hennick
, Chairman & CEO, Colliers International


8:50 AM
INSIDE THE MIND OF CANADA’S LARGEST RETAILER

A presentation by the head of Canada's food and pharmacy leader with a network of corporate and independently-operated stores across the country that employ 200,000 Canadians. What is his vision for the future of retailing? What are his strategies? Is being the principal shareholder of the largest REIT in Canada one of them?

Galen G. Weston, Chairman & CEO, George Weston Limited, Executive Chairman, Loblaw Companies Limited, and Chairman, Choice Properties REIT


9:50 AM
CONCURRENT SESSIONS (SELECT B1, B2, B3, B4 or B5)

SESSION B1:
THE CHANGING NATURE OF WORK, THE NEEDS OF OCCUPIERS AND THEIR IMPLICATIONS FOR THE OFFICE MARKET ACROSS CANADA: HOW ARE THESE TRENDS AFFECTING THIS PROPERTY CLASS? 

Canada’s office market of some 525 million sq.ft. experienced a 15% decline nationally in vacancy to 10%. What were the reasons for this trend when you consider that our cities are witnessing the largest surge in new development in over 25 years? Is the demand from the high-tech market a key factor? To what extent is the strong growth and shift towards coworking office environments another reason? The office is becoming more than a conventional work space. The result is a range of coworking business solutions offered by a number of players and the evolution of WorkPlace-as-a-Service (WaaS). This session will examine these and other trends including the demand for this space, its amenitization, the implications for leasing, and how to engage the appraisal and capital markets to properly assign value to flexible leases. Can you “pick the lock on WaaS” including its demand, business, and balance with traditional leasing practices in today’s office market?

Sheila Botting

Wayne Berger

Barbara Ciesla

Trish Clarry

Lachlan MacQuarrie

Jonathan Pearce

Moderator:
Sheila Botting
, Partner & Canadian Real Estate Leader, Deloitte

Panel:
Wayne Berger
, Chief Executive Officer, Canada & Latin America, IWG
Barbara Ciesla, Vice President, Experience, Allied Properties REIT
Trish Clarry, Principal, Corporate Solutions, JLL
Lachlan MacQuarrie, Vice President, Real Estate Management, Oxford Properties Group
Jonathan Pearce, Executive Vice President, Leasing, Office & Industrial, North America, Ivanhoé Cambridge


SESSION B2:
THE APARTMENT MARKET CONTINUES TO BE VERY BUOYANT: SOLID RETURNS, STRONG DEMAND, RECORD LOW VACANCY RATES

For many investors, the staple of a well-diversified real estate portfolio today includes multi-residential assets. Predictable yields and strong cash flows make apartments one of the most reliable property classes. Investor interest far outweighs supply in many markets resulting in an average cross-country cap rate of 4.4%. Rental demand has also led to a national vacancy rate decline from 3% to 2.4% in the past year. Consider that Vancouver, Toronto, Montreal and Ottawa are also well below 2%. What direction is the multi-residential market likely to take in 2020 in these and other gateway cities across Canada? How much purpose-built rental construction is expected in the short term? In which cities? How are some owners integrating multi-residential development within their current assets and properties? Does the apartment market face some possible challenges over the next few years or is it somewhat insulated from most risks? 

Aik Aliferis

John Ballantyne

Philip Fraser

Paula Gasparro

Alfred Hendry

Mark Kenney

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

Panel:
John Ballantyne
, Senior Vice President, Asset Management, RioCan REIT
Philip Fraser, President & CEO, Killam Apartment REIT
Paula Gasparro, Vice President, Real Estate Finance, CMLS Capital
Alfred Hendry, Chief Executive Officer, Homestead Land Holdings Limited
Mark Kenney, President & CEO, CAPREIT


SESSION B3:
INDUSTRIAL REAL ESTATE IS EXCEPTIONALLY HOT: HOW IS THIS ASSET CLASS PERFORMING ACROSS THE
COUNTRY? WHAT LIES AHEAD?   

A strong case be made that industrial real estate has been on an accelerated and significant comeback trail over this decade. Industrial space vacancy across the country has fallen to a historically low level of 2%.  Supply tightened in eight of the ten major commercial real estate markets. This session will examine key investment, leasing and development trends in this asset class across Canada today. What are the factors responsible for this exceptionally strong demand? To what extent can it still be categorized as a tale of two submarkets comprised of new modern warehousing buildings vs. older vintage properties with marginal applications for various users? With over 25 million sq.ft. under development, is demand so strong that there is justification for even more projects? Where are NERs heading in Toronto, Montreal and Vancouver compared with Calgary and Edmonton? How strong is investor interest overall in the Canadian industrial market?

Chris Holtved

Beth Berry

Keith Major

Karen Oldfield

Brian Pauls

Ben Sykes

Moderator:
Chris Holtved
, Senior Portfolio Manager, Real Estate, HOOPP

Panel:
Beth Berry
, Vice President, Industrial Development, Beedie
Keith Major, Managing Partner, Canadian Office & Industrial Services, BentallGreenOak (Canada) LP
Karen Oldfield, President & CEO, Halifax Port Authority
Brian Pauls, President & CEO, Dream Industrial REIT
Ben Sykes, Vice President & Principal, Industrial Investment, Avison Young


SESSION B4:
STRONG GROWING INTEREST IN ALTERNATIVE ASSETS: DATA CENTRES, STUDENT AND SENIORS HOUSING AND INFRASTRUCTURE AMONG OTHERS

Investors are increasingly turning to alternative real estate sectors to take advantage of attractive yields, long-term growth prospects and diversify their portfolios. Sectors such as data centres, self-storage, seniors and student housing are gaining more attention as cap rates for core real estate assets continue to increase. The rise of alternatives has been extremely rapid – investment in the sector has more than tripled since 2010. This session will briefly examine each of the most significant segments, what is the outlook for growth and which cities offer the greatest opportunities, and to what extent there are challenges and barriers of entry. 

David Cervantes

Paul Campbell

Lois Cormack

J.P. Mackay

Jaime McKenna

Moderator:
David Cervantes
, Senior Vice President, Advisory & Transaction, CBRE Limited

Panel:
Paul Campbell
, CEO, Versacold Logistics & Project Lead, Royal York Hotel, KingSett Capital
Lois Cormack, President & CEO, Sienna Seniors Living
J.P. Mackay, Vice President, Urban Data Centres & Special Operations, Allied Properties REIT
Jaime McKenna, Managing Director, Real Estate, Fengate Asset Management


SESSION B5:
THE ACCELERATING GROWTH OF PROPTECH: HOW CAN REAL ESTATE COMPANIES DEVELOP INNOVATIVE STRATEGIES THAT CAN APPLY ADVANCEMENTS IN TECHNOLOGY TO IMPROVE THEIR BOTTOM LINE?  

Technological innovation is changing the world at an unprecedented speed and the real estate market and industry is not exempt from this transition. PropTech has now become a commonly used term pertaining to the intersection of real estate and technology. While technology enables everyone to do so more today, fast forward ten years and the pace of change and evolution will be more significantly accelerated. What is the range of strategies that you could be considering in order 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 some examples of PropTech initiatives that have entered the market?

Ben Liao

Rao Mulpuri

Annette Prater

Jose Ribau

Nick Romito

Moderator:
Ben Liao
, Managing Director, Techstars

Panel:
Rao Mulpuri
, Chief Executive Officer, View Inc.
Annette Prater, Executive Vice President, Technology & Innovation, Brookfield Properties
Jose Ribau, Executive Vice President, Digital & Innovation, The Cadillac Fairview Corporation Limited
Nick Romito, Chief Executive Officer & Co-Founder, VTS


11:00 AM
MORNING REFRESHMENTS

11:30 AM
CONCURRENT SESSIONS (SELECT C1, C2, C3, C4 or C5)

SESSION C1:
THE PRESSURES AND CONTINUED EVOLUTION OF RETAIL: SOME INTRIGUING INSIGHTS ON WHERE THIS MARKET COULD BE HEADING

No other real estate property category has attracted as much chatter in recent years as retail. Once a favourite of investors, this asset class is now facing many increased challenges. We have all watched Canadian, U.S. and European retailers opening stores, closing them or looking for fresh approaches to their formats. While there is a range of views on how online shopping is impacting the Canadian retail market, it is clear that the landscape is shifting. This session will open with two presentations that will provide some informative insights on the emerging strategies of retailers and landlords. What are they doing in this highly competitive market to retain the vitality of personal shopping experiences? Some analysts are offering dire forecasts for the future of all mall formats as changing demographics and buying habits negatively affect poorer quality properties. This session will examine these and other trends, and discuss the facts and fallacies pertaining to where the Canadian retail real estate market is heading from an investor, developer, retailer and consumer perspective. 

Nurit Altman

Jan Kestle

David Zietsma

Don Clow

Inge van den Berg

Moderator:
Nurit Altman
, Director, RBC Capital Markets Real Estate Group

Presenters:
Jan Kestle
, President & CEO, Environics Analytics
David Zietsma, Senior Vice President, Strategy + Performance, Jackman Reinvents

Panel:
Don Clow
, President & CEO, Crombie REIT
Inge van den Berg, Vice President, Strategic Insights, The Cadillac Fairview Corporation Limited


SESSION C2:
INVESTMENT OVERVIEW OF GATEWAY CITIES AND MID-MARKETS ACROSS CANADA

An extensive discussion on prospective buying and selling trends for 2020. A four principal asset class national average cap rate is 5%. The story for the past year has been a familiar one: a market imbalance where the amount of capital trying to buy assets continues to exceed quality investment opportunities. The result? Strong investment demand. What are the major reasons for this continued trend across Canada? Who are likely to be buyers in 2020?  Will value added and opportunistic buyers be more active? Who will be the sellers? Which asset classes will likely be most favoured by investors? Which cities will be “top of mind”? How do investor attitudes vary from institutional vs. private and domestic vs. offshore? What opportunities are there for investors to tap into or partner with the public sector? What do you need to understand about these types of relationships? How are mid-markets likely to fair vs. major cities? 

Thaine Carter

Prakash David

Daniel Drimmer

Emeka Mayes

Stephen Robertson

Jeff Thomas

Moderator:
Thaine Carter
, Vice President, TD Securities

Panel:
Prakash David
, Executive Vice President, Investments and Development, Triovest Realty Advisors Inc.
Daniel Drimmer, Founder & CEO, Starlight Investments
Emeka Mayes, Vice President, Investments, First Capital Realty Inc.
Stephen Robertson, Head of Acquisitions, Canada, LaSalle Investment Management
Jeff Thomas, Group Head, Development, KingSett Capital


SESSION C3:
CAPITAL AND DEBT MARKETS IN 2020: WHERE ARE SPREADS, PRICING, AVAILABILITY AND SOURCES HEADING? 

A wide-ranging discussion will examine the availability of public and private debt and equity for Canadian real estate from the perspective of the capital markets, borrowers, banks and mortgage originators. The participants will offer their views from different points on the compass as they comment on today’s capital and credit market environment; what they foresee in 2020 and beyond; what risks are emerging at this time; and how they would favour deploying their capital? What can you expect next year with respect to the pricing, availability of capital, and the most accessible sources? Will lenders be more or less aggressive next year? How challenging is asset valuation today? Where are Canadian interest rates and monetary policy likely heading in 2020? 

Tom Rothfischer

Paul Chin

Colin Johnston

Heather Kirk

Jenny Li

Jeremy Wedgbury

Moderator:
Tom Rothfischer
, Partner, KPMG

Panel:
Paul Chin
, Executive Vice President & Chief Investment Officer, Otéra Capital
Colin Johnston, President, Research, Valuation & Advisory, Altus Group
Heather Kirk, Executive Vice President & CFO, Cominar REIT
Jenny Li, Managing Director, North American Real Estate, BMO Capital Markets
Jeremy Wedgbury, Senior Vice President, Commercial Mortgages, First National Financial LP


SESSION C4:
THE FACTS AND FALLACIES ABOUT THE SUBURBS AND MID-MARKETS: ARE THEY STRONGER THAN YOU THINK?

A major trend across Canada is high density mixed-use development in the downtown cores of gateway markets. We’re told that millennials want to live, work, play and learn in inner cities. Employers and retailers recognize this and are following them accordingly. But is that where all the action is at this time? What about older and newer peripheral suburban communities and mid-markets? Has the interest in living, working and shopping in these areas peaked? Have suburban assets lost their appeal for investors? Has development activity waned? And what about secondary markets? The lowest unemployment rates coupled with higher GDP growth can be found in a number of Canadian mid-market cities. A growing number of investors and developers are now active in the suburbs and mid-sized communities in their search for value and growth. They have found viable opportunities. This session will examine some of the key facts and fallacies pertaining to these trends across Canada. You may be surprised at what you hear.

Stefan Teague

Jason Castellan

Clinton Elenko

Emily Hanna

Nick Macrae

Kim Riley

Moderator:
Stefan Teague
, Executive Managing Director, GTA Market Leader, Cushman & Wakefield

Panel:
Jason Castellan
, Co-Founder & CEO, Skyline Group of Companies
Clinton Elenko, Vice President, Western Canada, CT REIT
Emily Hanna, Partner, Investments, Crown Realty Partners
Nick Macrae, Senior Portfolio Manager, Real Estate, HOOPP
Kim Riley, Executive Vice President, Investments & Development, Artis REIT


SESSION C5:
WHAT ARE ENTREPRENEURS DOING IN TODAY’S MARKET TO SUCCEED?

Given the strong investor sentiment in the Canadian market, unique opportunities have emerged for entrepreneurialism in the real estate industry. They are found not only in the major cities but in mid-markets as well. Entrepreneurs are experienced at looking for innovation and accessing well priced capital. They are often privately-owned firms or private equity funds. While they do not dismiss risk, they often have the ability to see value and reward where many others do not. How do they source capital? What are some examples of how they structure their deals? What niches do they strategically focus on to find the highest potential value opportunities that will provide quality returns? What have been the most significant challenges that they have had to endure? Given present conditions in the Canadian economy and real estate market, how do they see investment opportunities unfolding for 2020?  

Don White

Michael Hungerford

Lucas Manuel

Blair McCreadie

Max Rosenfeld

Laurence Vincent

Moderator:
Don White
, President & CEO, Private Pension Partners Inc.

Panel:
Michael Hungerford, Partner, Hungerford Properties
Lucas Manuel, Managing Director & Partner, Slate Asset Management
Blair McCreadie, Head of Canadian Real Estate & Fund Manager, Fiera Real Estate
Max Rosenfeld, Vice President, Acquisitions & Asset Management, Crestpoint Real Estate Investments Ltd.
Laurence Vincent, Co-President, Groupe Prével 


12:40 PM
LUNCHEON
LUNCHEON REFRESHMENTS

1:35 PM
AFTERNOON REFRESHMENTS

1:40 PM
CLOSING ROUNDTABLE DISCUSSION
HOW DO YOU EXPECT TO GROW IN 2020? IS IT A TIME FOR SOME CAUTION, MORE INNOVATION, OR LOOKING FOR NEW OPPORTUNITIES?

Given the broad range of issues that were raised during the Real Estate Forum over the previous two days, a panel of senior leaders will offer the last word. Representing a divergence of interests and viewpoints, their insights will focus on what risks and opportunities they see in the year ahead, and what courses of action they are likely to follow accordingly. Is 2020 a year to be bolder or more conservative? Are they chasing yield or momentum? What could cause them to head for the sidelines? Of all the opportunities in the market, what is the most significant one? Are more Canadian investors going to continue to increase their global presence? Are there still good quality development opportunities? In which property classes and markets? How focused are they on technological disruptors and transformation within their organization and their real estate activities? 

Avtar Bains

Kevan Gorrie

Remco Daal

Paul Finkbeiner

Nadeem Meghji

Brett Miller

Toni Rossi

Moderators:
Avtar Bains
, President, Premise Properties
Kevan Gorrie, President & CEO, Granite REIT

Panel:
Remco Daal
, President, Canadian Real Estate, QuadReal Property Group
Paul Finkbeiner, Global Head of Real Estate, Great-West LIFECO
Nadeem Meghji, Senior Managing Director and Head of Real Estate Americas, The Blackstone Group
Brett Miller, Chief Executive Officer, Canderel
Toni Rossi, President, Real Estate, Infrastructure Ontario


2:45 PM
ADJOURNMENT