2015 Program

Platinum

National Industry Sponsor

National Green

Gold

8:00 AM
GLOBAL PROPERTY MARKET

Trends, strategies, opportunities, and risks for international real estate investment and development

International speakers will join Canadian executives to discuss investment, development, and joint venture trends, risks and opportunities in the United States, Western and Eastern Europe, Asia Pacific, Mexico, Latin America and other growing and emerging markets. Global investor interest in Canada will also be examined.

Please note that a separate registration fee is required to attend Global Property Market. Select Global Property Market when registering to ensure fees are applied.


6:00 PM
CHAIRS’ RECEPTION

A two hour opportunity for informal networking and meeting other delegates prior to the conference.

Canadian Room, Fairmont Royal York


7:00 AM
REGISTRATION & LIGHT BREAKFAST

8:00 AM
INTRODUCTION OF FORUM CHAIRS

Moray Tawse

Gary Whitelaw

Moray Tawse, Co-Founder and Executive Vice President, Mortgage Investments, First National Financial LP
Gary Whitelaw, Chief Executive Officer, Bentall Kennedy Group

OPENING REMARKS: THE THEMES OF THIS YEAR’S FORUM

Jane Gavan

Stephen Sender

Jane Gavan, President, Asset Management, Dream Unlimited Corp.
Stephen Sender


8:10 AM
TWO SHORT OPENING VIDEO PRESENTATIONS

8:20 AM
WHAT IS THE OUTLOOK FOR CANADA, THE U.S. AND GLOBAL ECONOMIES FOR 2016?

Another year has passed and there is still no clear consensus on where geo-economic trends are heading. If anything, the situation has become even more complicated and unclear. While it appears that the United States economic recovery is still progressing, dark clouds remain across EuroZone and many emerging and growing markets. All of this has implications for Canada as well. With a national unemployment rate that is still 7% and a GDP forecast of below 2%, what does all of this mean for the strength and direction of our domestic economy? Can anyone clarify what the future holds for the demand and pricing of oil and commodities? This session will feature two leading economists who will offer their insights and perspectives on all of these trends and where they believe we are heading in 2016. They will analyze the major fundamentals in Canada, the U.S. and global markets. Will we finally see any interest rate hikes by the Fed? Will the bubble burst on Canadian housing markets specifically?

Speaker Introductions:

Lori-Ann Beausoleil, Partner, National Real Estate Advisory Leader & National Forensics Leader, PwC

Outlook for the U.S. and Global Markets and What It Means for Canada

Warren Jestin, Chief Economist, Scotiabank

The Key Fundamentals of the Canadian Economy: Have We Turned the Corner?

Benjamin Tal, Deputy Chief Economist, CIBC Capital Markets


9:30 AM
INSIDE THE BOARDROOM: AN ASTRONAUT’S GUIDE TO LIFE AND SUCCESS ON EARTH

Good Morning Earth!”  That’s how Chris Hadfield woke up the world every day on Twitter for the five months he lived aboard the International Space Station. Twenty-one years as an astronaut, three spaceflights, 2600 orbits of Earth, and 4,000 hours in space, Hadfield is a worldwide sensation, and has harnessed the power of social media to make outer space accessible to millions; infusing a sense of wonder into our collective consciousness, possibly not felt since humanity first walked on the Moon. Hadfield, “the most famous astronaut since Neil Armstrong,” continues to bring the marvels of science and space travel to everyone he encounters and shows how to apply  this  to everyday life. Spending decades training as an astronaut, the secret to his success is an unconventional philosophy he learned at NASA; prepare for the worst – and enjoy every moment of it.

Hadfield will take you deep into his years of training and space exploration and share making the impossible possible. He will explain how conventional wisdom can get in the way of achievement and happiness. Hadfield’s deep and refreshing insights will show you how to think like an astronaut, welcome challenges and change the way you view your life on Earth and the definition of success.

Colonel Chris Hadfield. In 1992, Hadfield was selected as a NASA Mission Specialist—Canada’s first fully-qualified Space Shuttle crew member. Three years later, aboard Shuttle Atlantis, he was the first Canadian to operate the Canadarm in space, and the first Canadian to board a Russian spacecraft as he helped build space station “Mir.” In 2001, aboard Shuttle Endeavour, Hadfield became the first Canadian to perform two spacewalks and, in 2013, he became the first and only Canadian to be Commander of the International Space Station.


10:20 AM
MORNING REFRESHMENTS

10:50 AM
CAPITAL ALLOCATION IN 2016: WHERE IS IT LIKELY TO BE HEADING?

Leaders from banking, insurance, and real estate will discuss their strategies for optimizing returns in 2016 and beyond in today’s unpredictable and often volatile environment. What is different today than a year ago? Where do they expect to be allocating resources – both capital and human – and why?

Amanda Lang

Dean Connor

Victor Dodig

Jon Love

Interviewer:
Amanda Lang
, Business News Anchor, Bloomberg TV Canada

Panel:
Dean Connor
, President & CEO, Sun Life Financial
Victor Dodig, President & CEO, CIBC
Jon Love, Managing Partner, KingSett Capital


11:40 AM
STRATEGIC THINKING FOR 2016 FROM THREE REAL ESTATE LEADERS

A discussion with three senior executives, each of whom is active not only across Canada but also in the U.S.  Two of their organizations are also in various markets in Europe. The conversation will focus initially on their conclusions about the Canadian market and what opportunities and risks lies ahead for 2016. They will also provide a comparative examination of the U.S. and European markets. Topics covered will include capital flows, markets to watch, a perspective on property types, what the panel considers to be the best bets for 2016 and how their respective 2015 performance has met their expectations of twelve months ago.

Raymond Torto

Blake Hutcheson

Dori Segal

Gary Whitelaw

Moderator:
Raymond Torto
, Lecturer, Graduate School of Design, Harvard University and retired Global Chief Economist, CBRE Limited

Panel:
Blake Hutcheson
, President & CEO, Oxford Properties Group
Dori Segal, Chairman of the Board, First Capital Realty Inc.; Executive Vice Chairman Gazit-Globe; Vice Chairman, Equity One, Inc.
Gary Whitelaw, Chief Executive Officer, Bentall Kennedy Group


12:30 PM
LUNCHEON
LUNCHEON REFRESHMENTS

1:35 PM
AFTERNOON REFRESHMENTS

1:40 PM
CONCURRENT SESSIONS (Select A1 or A2)
SESSION A1:
CANADA VS. U.S. VS. OTHER GLOBAL MARKETS:
ASSESSING THE RISKS, CHALLENGES AND THE BEST POTENTIAL OPPORTUNITIES

Real estate investment activity is wide ranging across tier one countries, growing markets and many emerging markets. In some cases, it is more buoyant than in others. This session will offer some clarity on strategic thinking, investment opportunities and key trends in this global environment. How are institutional investors, REITs, and opportunity funds evaluating their allocation to real estate assets? Is a key factor safety vs. growth? In assessing risk/return, what markets do they favour and which ones are they avoiding? What is the prevailing view of the U.S. market? Is Canada considered overpriced? Which market is safer and positioned to provide better returns? Investors are now more focused on major cities around the world rather than prioritizing countries. What are some of the ones on their list? Looking ahead, what risks and opportunities do they see increasing in 2016? Where is the greatest potential growth likely to come from? Is benchmarking your real estate performance a key priority? What have been some of their successes and failures over the past year?

Peter Senst

Peter Ballon

David Henry

Driss Oualkadi

Sujan Patel

Moderator:
Peter Senst
, President, Canadian Capital Markets, CBRE Limited

Panel:
Peter Ballon
, Managing Director & Head of Real Estate Investments –  Americas, CPPIB
David Henry, Chief Executive Officer & Vice Chairman, Kimco Realty Corporation
Driss Oualkadi, Managing Director, Deka Real Estate
Sujan Patel, Managing Director & Co-Head of Investments, NorthStar Asset Management Group


SESSION A2UNDERSTANDING THE TORONTO MARKET:
WHAT IS DRIVING CITY BUILDING & DEVELOPMENT? HOW MUCH MORE CAN WE EXPECT?

Across Canada, there is an unprecedented amount of intensification activity and urban revitalization on a scale that has not been seen for decades. This is in fact a global trend just as the renewal of inner city areas has become a common activity. This panel will specifically focus on the City of Toronto to provide some insights on what have been the key factors responsible for what has occurred over the past ten years. The senior planning official of the City will be joined by two diverse developers/investors and a leading architect to offer some very wide ranging perspectives. They will provide their insights on what key economic, demographic, planning and social forces are responsible for the intensification and renewal activity of our major cities, and what the implications of these trends are for real estate investment and development activity going forward. What are some examples of innovation that are being implemented? Is there any signal on the horizon that these trends in Toronto have or will peak or are they likely to carry on for some time?

Rob Spanier

Michael Emory

David Gerofsky

Jennifer Keesmaat

Dermot Sweeny

Moderator:
Rob Spanier
, Partner & Principal, LiveWorkLearnPlay and Chair, Toronto District Council, Urban Land Institute

Panel:
Michael Emory,
 President & CEO, Allied Properties REIT
David Gerofsky, Chief Executive Officer, First Gulf Corporation
Jennifer Keesmaat, Chief Planner & Executive Director, City of Toronto
Dermot Sweeny, Principal, Sweeny &Co Architects Inc.


3:00 PM
NETWORKING RECEPTION

7:30 AM
REGISTRATION & LIGHT BREAKFAST

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

Jane Gavan

Stephen Sender

Jane Gavan, President, Asset Management, Dream Unlimited Corp.
Stephen Sender


8:10 AM
UNDERSTANDING THE RESULT OF THE CANADIAN NATIONAL ELECTION: WHAT DOES IT MEAN FOR ECONOMIC GROWTH GOING FORWARD?

With October’s Canadian federal election, here is analysis of what the resulting Parliament may mean for economic and social policies for the next few years. What are the implications for job growth? What lies on the horizon with respect to the national elections in the U.S. in 2016? Is there anything that we need to concerns ourselves about?

Introduction:

Chuck Scott, President, Global Occupier Services – Canada, Cushman & Wakefield

Speaker:

Diane Francis is an award-winning columnist, bestselling author, investigative journalist, and television commentator.  In 1991, she became the first woman editor of a national daily newspaper in Canada, a position she held at the National Post until the paper was sold in 1998.


8:40 AM
WHERE ARE OIL AND COMMODITY PRICES LIKELY HEADING IN 2016? WHAT ARE THE MAJOR GAME-CHANGERS TO WATCH FOR?

An insightful presentation by one of the leading and most highly respected global strategists on the commodities’ market. What can we expect to happen over the next twelve months? What will be the key determinants of where prices and demand are heading?

Helima Croft, Managing Director and Chief Commodities Strategist, RBC Capital Markets. Prior to her current role, Helima held senior positions in business intelligence, geopolitics and commodities with Barclays, Lehman Brothers, the Council on Foreign Affairs and the CIA.


9:30 AM
CONCURRENT SESSIONS (Select B1, B2, B3, B4 or B5)
SESSION B1:
THE OFFICE MARKET ACROSS CANADA: WHAT CHALLENGES DOES IT FACE IN WHICH CITIES? WHAT KEY FACTORS WILL IMPACT FUTURE DEMAND?

Canada’s office market of more than 500 million sq.ft. continued to soften during this past year. Vacancy rates rose in most markets and have reached almost 10% nationally. What were the major reasons for this trend when you consider that our major cities are witnessing the largest surge in new development in some 25 years? What are the major challenges to achieving more absorption? How have the suburbs fared relative to the downtown cores? What are owners of older legacy towers, B and C class properties doing to try to compete against the attributes of the new higher performance green certified buildings? How is the “brick and beam” market performing? What is the impact of tenants rethinking their workplaces and space requirements? What are the key priorities of tenants on a stratified basis? Are leasing trends in step with valuations and cap rates?

Michael Caplice

Sheila Botting

Tom Burns

Sandy McNair

Jonathan Pearce

Stephen Taylor

Moderator:
Michael Caplice
, Senior Managing Director, Market Leader, GTA, Cushman & Wakefield Ltd.

Panel:
Sheila Botting
, Partner & Canadian Real Estate Leader, Global Real Estate Financial Services Leader, Deloitte
Tom Burns, Executive Vice President & COO, Allied Properties REIT
Sandy McNair, President, Altus InSite
Jonathan Pearce, Senior Vice President, Office Leasing, Office North America, Ivanhoé Cambridge
Stephen Taylor, Vice President, Real Estate, Healthcare of Ontario Pension Plan

SESSION B2:
THE APARTMENT MARKET CONTINUES TO BE BUOYANT: SOLID RETURNS, SUSTAINABLE DEMAND, AND PURPOSE BUILT RENTAL

For many investors, the staple of any well-diversified real estate portfolio today is still the multi-family market. Predictable yields and strong cash flows make apartments one of the most reliable property classes. Investor demand far outweighs supply resulting in continued cap rate compression. What direction are they likely to take in 2016? How can investors make low cap rates work? How are occupancy rates in major markets across the country? How much new apartment construction is expected given replacement costs vs. the prices of assets? In which cities? What are factors supporting the growing interest in student housing? What challenges does the apartment market face over the next few years?

Jean-Charles Angers

Todd Cook

Anne Morash

Greg Romundt

Tyler Seaman

Greg Speirs

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

Panel:
Todd Cook
, President & CEO, Northview Apartment REIT
Anne Morash, Senior Vice President, Multi-Residential, GWL Realty Advisors
Greg Romundt, President, Centurion Asset Management Inc.
Tyler Seaman, Vice President, Hotels & Multi-Residential, Oxford Properties Group Inc.
Greg Speirs, Senior Vice President, Asset Management, Realstar Management

SESSION B3:
CASE STUDIES OF TWO MAJOR SCALE DEVELOPMENTS THAT ARE RE-DEFINING THE ORIGINAL NATURE OF SUBURBAN COMMUNITIES

Across Canada, unprecedented levels of urban revitalization are underway. Economic, demographic, social and political forces have created a favourable environment for the renewal of our major cities. But these preconditions are not simply limited to downtown cores. This session will examine two case studies – large scale projects that are putting people and sustainability at the forefront of urban planning as suburban communities undergo a major evolution. The Vaughan Metropolitan Centre is a bold vision for a 442 acre vibrant, modern urban development that includes multi-use office towers, residences, open green space, and a wide range of retail. By 2031, it is expected to be home to at least 25,000 people and more than 11,000 jobs. The redevelopment of the former Buttonville Airport in Markham is poised to create a world-class employment district with a vibrant mixed-use lifestyle destination that will include some 24,000 jobs and 4,000 homes. These examples will offer insights and a greater understanding of these trends across major cities.

Jamie Ziegel

Wayne Barwise

Mitchell Goldhar

Moderator:
Jamie Ziegel
, Managing Director, TD Securities Inc.

Speakers:
Wayne Barwise
, Executive Vice President, Development, The Cadillac Fairview Corporation Limited
Mitchell Goldhar, Founder, SmartCentres

SESSION B4:
TRENDS FACING CAPITAL AND DEBT MARKETS IN 2016: WHAT IS THE OUTLOOK FOR SPREADS, COST, AVAILABILITY AND PRIMARY SOURCES?

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 2016 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 cost, availability and most accessible sources of capital? Will lenders be more or less aggressive next year? What impact is the federal government policy having on capital and the real estate market generally? How challenging is asset valuation today? What information is required from a valuation by management, purchasers, vendors, shareholders, lenders, and the capital markets? Since 2010, there has been a consistent question being asked about when the BOC will increase interest rates. What is the view of this panel as to when this may finally happen? How quickly and far will rates then increase?

Tom Rothfischer

Sylvain Cossette

Phil Gillin

David Grieve

Mark Johnson

Moray Tawse

Moderator:
Tom Rothfischer
, Partner, KPMG LLP

Panel:
Sylvain Cossette, Executive Vice President & COO, Cominar REIT
Phil Gillin, Senior Managing Director & Portfolio Manager, Canadian Property Investments, Sun Life Financial
David Grieve, Director, Mortgage Investments, AIMCo
Mark Johnson, Managing Director & Co-Head, Real Estate Investment Banking, CIBC
Moray Tawse, Co-Founder & Executive Vice President, First National Financial LP

SESSION B5:
GROW YOUR NOI AND ASSET VALUE ORGANICALLY: REPOSITIONING YOUR PROPERTIES AND OTHER STRATEGIES

Virtually every new development in today’s market is being designed with LEED certification or some high performance metric in mind. However, new construction still only represents perhaps 1% of the building stock. How can aging assets remain competitive in a market given the increasing amount of green buildings developed in recent years? Can you maximize returns and the financial potential of your property assets through value-added programs, repositioning, operational excellence and superior management expertise? Can you increase the value of B and C class buildings while in turn providing greater value to your tenants? Does this open new investment opportunities where you can see a value that the seller may not? How challenging is it to reposition or to repurpose your properties in order to grow your NOI? What do you need to keep in mind when considering these strategies?

Michael Pittana

Yves-André Godon

Adam Lazier

Joe Mazzocco

Antoinette Tummillo

Moderator:
Michael Pittana
, Co-Founder & Chair, Crown Realty Partners

Panel:
Yves-André Godon
, Chief Operating Officer, Triovest Realty Advisors Inc.

Adam Lazier, Partner, Slate Asset Management LP
Joe Mazzocco, Partner, Investments, KingSett Capital
Antoinette Tummillo, ‎Executive Vice President, Canada REMS, Colliers International


10:40 AM
MORNING REFRESHMENTS

11:10 AM
CONCURRENT SESSIONS (Select C1, C2, C3, C4 or C5)
SESSION C1:
THE PRESSURES AND THE CONTINUED EVOLUTION OF THE RETAIL MARKET: ARE WE APPROACHING A PERIOD OF STRONG WINNERS AND WEAK LOSERS?

No other real estate property class has attracted as much attention as retail. We have watched Canadian, U.S. and European retailers open stores, close them or look for fresh approaches to their formats. There is a range of views on how much online shopping is really impacting the Canadian retail market. To what extent is omnichannel a new word in the retail vernacular? The influx of inner city mixed-use and residential developments are opportunities for new urban retail formats. There also appears to be a widening gap occurring between strong malls with rising sales and weaker malls with lower quality retailers, sales, and less foot traffic. Some analysts are offering dire forecasts for the future of older malls 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 the evolution of the Canadian retail real estate market.

John Crombie

Alan Marcovitz

Huw Thomas

Fred Waks

John Williams

Sam Winberg

Moderator:
John Crombie
, Senior Vice President, Retail Leasing Canada, Triovest Realty Advisors Inc.

Panel:
Alan Marcovitz
, President, Westcliff Management Ltd.
Huw Thomas, President & CEO, SmartREIT
Fred Waks, President & CEO, Trinity Development Group Inc.
John Williams, Senior Partner, J.C. Williams Group
Sam Winberg, Co-Founder & Broker, Eastern Canada, Northwest Atlantic (Canada) Inc.

SESSION C2:
INDUSTRIAL REAL ESTATE MARKETS ACROSS CANADA: HOW ARE THEY REALLY PERFORMING?  WHAT LIES AHEAD?

Can a case be made that industrial real estate has been on a strong comeback trail for the past two years? This session will examine major investment, leasing and development trends in this property class across Canada today. 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 many users? What does the future hold for B and C class aging and out-dated buildings? Is there another trend also emerging, e.g. resource-based markets vs. the rest of the country? To what extent are there have and have not markets? What are the greatest sources of demand for space and in which markets? How are industrial tenant requirements changing? How are landlords responding? Do rent levels now support new development in most markets? What is needed in order to move NERs much higher in Toronto and Montreal? How strong is investor interest in industrial properties?

Gord Cook

Brent Chapman

Kevan Gorrie

Allan Perez

Paul Zemla

Moderator:
Gord Cook
, Executive Vice President, Colliers International

Panel:
Brent Chapman
, President & CEO, Dream Industrial REIT
Kevan Gorrie, President & CEO, Pure Industrial REIT
Allan Perez, Managing Director, CanFirst Capital Management
Paul Zemla, Chief Investment Officer, Bentall Kennedy

SESSION C3:
THE OUTLOOK FOR INVESTMENT ACTIVITY IN 2016:  WHAT WILL IT TAKE FOR A REBOUND?

A panel of investors will be joined by commercial brokers to provide an extensive discussion on prospective buying and selling trends for 2016. The story for the past year has been a familiar one: a market imbalance where the amount of capital trying to enter the market continues to greatly outnumber quality buying opportunities. What have been the major reasons for continued investor interest in Canada? What will be required in order to create greater liquidity? Who are likely to be buyers in 2016? Will value added and opportunistic buyers be active? Who will be the sellers? Which asset classes will likely be most favoured by investors? Which markets will be “top of mind”? How do investor attitudes vary from institutional vs. private and domestic vs. offshore? Where will cap rates be trending for core assets? How are mid-markets likely to fair vs. major cities?

Mark Rose

Avtar Bains

Jonathan Gitlin

Matt Picken

Tony Reale

Ted Willcocks

Moderator:
Mark Rose
, Chief Executive Officer, Avison Young

Panel:
Avtar Bains
, President, Premise Properties
Jonathan Gitlin, Senior Vice President, Investments, RioCan REIT
Matt Picken, Executive Vice President, Managing Director, Capital Markets, JLL
Tony Reale, Managing Director & Group Head, Canadian Property Brokerage & Real Estate Advisory, BMO Capital Markets
Ted Willcocks, Global Head of Asset Management, Manulife

SESSION C4:
TRENDS, STRATEGIES, RISKS & OPPORTUNITIES IN MARKETS OUTSIDE OF CANADA’S SIX MAJOR URBAN CITIES

It may come as no surprise to many that some of the lowest commercial vacancy and unemployment rates coupled with highest GDP growth can be found in a number of Canadian mid-market cities. The six largest urban centres in Canada generally attract the strongest attention because of their higher levels of liquidity among other reasons. Why have midmarkets increased in popularity, especially during the past five years? A growing number of investors and developers are now attracted to the mid-market communities in their search for value and growth. They have quietly and patiently found many successful opportunities. This session will examine some of their experiences from B.C. to Atlantic Canada and include markets such as Red Deer, Grande Prairie, Regina, Saskatoon, Winnipeg, Barrie, Kitchener and Halifax among others.

Bill MacAvoy

Jason Castellan

Don Clow

Armin Martens

Doug Porozni

Patrick Sullivan

Moderator:
Bill MacAvoy
, Managing Director, Cushman & Wakefield Atlantic

Panel:
Jason Castellan
, Chief Executive Officer & Co-Founder, Skyline Group of Companies
Don Clow, President & CEO, Crombie REITArmin Martens, President & CEO, Artis REIT
Doug Porozni, President, Ronmor Developers Inc.
Patrick Sullivan, Chief Operating Officer, Primaris Management Inc.

SESSION C5:
STRATEGIC & ENTREPRENEURIAL THINKING FROM LEADERS UNDER 45

Two common concerns raised during the brainstorming meetings for our Canadian real estate conferences is the need for more succession planning and the challenge for non-baby boomers to find a way to move-up to the C-suites within the real estate industry. This session will feature four senior executives under the age of 45 who have broken through the mold and entered the upper ranks of their respective organizations. It will be an insightful discussion and opportunity to understand their career paths and most importantly what have been some of the essential conditions that enabled them to assume their executive responsibilities. What advice would they offer organizations in order to facilitate strategic succession planning? The session will also focus on their perspectives of the Canadian real estate market and the industry. As they look forward, what do they see as some of the major challenges as well as opportunities? How will they respond to any risk that lies ahead?

Brett Miller

Steven Marino

Laetitia Pacaud

Kevin Salsberg

Allison Wolfe


12:30 PM
LUNCHEON
LUNCHEON REFRESHMENTS


1:30 PM
AFTERNOON REFRESHMENTS

1:35 PM
CLOSING ROUNDTABLE DISCUSSION: HOW DO YOU EXPECT TO GROW IN 2016? A TIME TO BE CAUTIOUS OR TO FIND OPPORTUNITIES?

Given the broad range of issues that were raised during the Real Estate Forum over the previous two days, a group of senior real estate executives will offer the last word. Representing a divergence of interests and viewpoints, the panel will offer their insights on what risks and opportunities lie ahead, and what courses of action they would suggest accordingly. Are they chasing yield or momentum? Will real estate continue to benefit from a flight to yield? How high will interest rates likely rise in 2016 in the U.S. and what impact will they have on the market? Will higher rates in Canada follow? Will REITs be able to sustain their strong performance? What will cause investors to head for the sidelines? Where is the smart money going? Of all the opportunities in today’s market, what is the most significant one? Are Canadian investors going to continue to increase their global presence? Is 2016 a year to be bold or conservative? Are there still solid development opportunities? In which property classes and markets?

Jane Gavan

Blair Welch

Stephen Sender

Michael Cooper

Paul Finkbeiner

Sylvain Fortier

John Sullivan

Moderators:
Jane Gavan
, President, Asset Management, Dream Unlimited Corp.
Stephen Sender

Panel:
Michael Cooper
, President & CEO, Dream Unlimited Corp.
Paul Finkbeiner, President, GWL Realty Advisors
Sylvain Fortier, Global Chief Investment Officer, Ivanhoé Cambridge
John Sullivan, President & CEO, The Cadillac Fairview Corporation Limited
Blair Welch, Partner & Co-Founder, Slate Asset Management LP