CONCURRENT SESSIONS (SELECT B1, B2, B3, B4 or B5)
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, Partner & Canadian Real Estate Leader, Deloitte
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
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, Senior Managing Director & Senior Director, Institutional Property Advisors, Marcus & Millichap
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
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, Senior Portfolio Manager, Real Estate, HOOPP
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
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, Senior Vice President, Advisory & Transaction, CBRE Limited
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
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, Managing Director, Techstars
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