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Registration Sponsored By
Continental Breakfast Sponsored By
Introduction of the Forum Chair:
Kam Raman, Regional Vice President, Pacific Region, FCT
Jennifer Podmore Russell
Jennifer Podmore Russell, Senior Vice President, Rennie Group
How is Canada, British Columbia and Vancouver placed internationally? What impact will the continued growth in the US have on Canada? What are the potential implications of the NAFTA negotiations? The presentation will also focus on national employment, GDP, interest rate, inflation and real estate fundamentals.
Craig Wright, Senior Vice President & Chief Economist, RBC
There is no denying that British Columbia’s economy is robust with signs of growth across most market segments. Between higher employment, stronger-than-expected performance of the housing market, and rising population, the strength of one of Canada’s largest provinces is quite evident. What are the main factors contributing to these trends? How has the change in provincial political leadership impacted the economy? What can we expect in 2018 and beyond? Is this economic strength sustainable? What does the region need to do to maintain its competitive advantage?
Vaughn Palmer, Columnist, Vancouver Sun
At the end of 2017, Vancouver was ranked as the most unaffordable housing market in North America. But what is the real story? Is housing demand continuing to grow stronger? What are the demographic factors of renters vs. owners? In which direction are they heading? How are developers and homebuilders approaching the supply challenges? What programs are in place to assist with more affordable housing and what companies have been successful in using them? How are government fiscal and regulatory policies impacting the market? Can municipalities and developers align on producing more affordability within the housing market?
Brian McCauley, President & CEO, Concert Properties
Mark Achtemichuk, Senior Vice President, CMLS Financial
Luke Harrison, CEO, Vancouver Affordable Housing Agency
Anne McMullin, President & CEO, Urban Development Institute
Greg Moore, Mayor, City of Port Coquitlam and Chair, Metro Vancouver Board of Directors
The Vancouver industrial market continues to experience very low vacancy rates due to consistently strong demand and constraints on new supply, beginning with the lowest availability of industrial land in North America. Developers are now looking outside of Metro Vancouver with a focus south of the Fraser to build out instead of up. What factors are responsible for this strong demand? Are industrial strata gaining popularity? How is the logistics market affecting the location and design requirements of warehouses? Given the high cost of urban land, are secondary markets seeing an increase in industrial activity? Case studies of new developments will also be discussed, e.g. Delta iPort.
Bill Randall, Senior Vice President, Industrial, Cushman & Wakefield
Beth Berry, Vice President, Industrial Development, Beedie Development Group
Charlie Deeks, Vice President, Investments, Pure Industrial Real Estate Trust
Chris Holtved, Senior Portfolio Manager, Real Estate, HOOPP
Brent Sawychyn, Principal, PC Urban Properties Corp.
The apartment market in Vancouver and the Lower Mainland has been extremely active in 2017 in both new starts and the repurposing of older buildings. According to the BCREA, multi-residential completions will jump 40% in 2018, increasing to some 6,000 units by Q3. How is the surge in completions expected to impact housing affordability in the Greater Vancouver Area? With low cap rates, and high land costs, how sustainable is purpose built rental? Is condominium development a better alternative? Will rising prices in the single-family market sustain higher rental demand? How are demographic shifts such as down-sizing households and millennials affecting the apartment market?
Patrick McEvay, Vice President, JLL
Eric Bond, Senior Market Analyst, Canada Mortgage and Housing Corporation
Daniel Drimmer, Chief Executive Officer, Starlight Investments
Shenoor Jadavji, President, Lotus Capital Corp.
Hani Lammam, Executive Vice President, Cressey Development Group
Dan Sander, Hollyburn Properties Limited
It is no secret that land in Vancouver and the Lower Mainland is a hot commodity. With ever-increasing demand and constrained supply, what are the median prices for industrial, mixed use, inner city, suburban and residential and non-residential land? What transactions have been completed over the past twelve months? What land will likely be available in the near term? Given the supply constraints, are joint ventures becoming a norm bringing a land owner together with a developer? Where are land values potentially heading for the remainder of 2018 and beyond?
Bob Levine, Principal, Capital Markets Group, Corporate Executive, Investment, Avison Young
Sandra Cawley, Principal, BC Appraisers
Jennifer Drury, Vice President & Branch Manager, Real Estate Lending, Canadian Western Bank
Jason Tonin, Vice President, Land Development, Beedie Development Group
Owen Yates, Partner, Frontline Real Estate Services
In this landlord’s market, a number of notable projects have been launched in the past twelve months or about to proceed. Predictions are that Vancouver to will have the second-lowest office vacancy rate in the Western Hemisphere by 2019. What factors are contributing to this strong demand within the office market? As US companies like WeWork and Amazon look to expand their Canadian presence, how will Vancouver accommodate the needs of high tech companies? What are these tenants demanding in terms of built product and workplace standards? As people move out of the downtown core into surrounding areas, how is this affecting the office market in both the suburbs and downtown core? Are the office submarkets as robust?
Mark Trepp, Senior Vice President, Tenant Representation Group, JLL
David Ferguson, Chief Investment Officer, Low Tide Properties
Rob Kavanagh, Vice President, Asset Management, GWL Realty Advisors
Bryce Margetts, Vice President, Western Canada, Canderel
Stephen Smith, Managing Director, Western Canada, Real Estate, Manulife Real Estate
This session will examine the office, retail, industrial, and multi-residential investment activity in the Vancouver market. The discussion will begin by briefly examining benchmark transactions over the past twelve months. The investors will then examine properties within each asset class and determine whether they would have an interest to buy any of them. What cap rates and valuation will they apply to each property? How will the cost of capital range from private equity funds to REITs to institutional investors? What are these investors looking for in order to have a successful transaction? The last portion of the session will examine their perspective on investment real estate market fundamentals for 2019 and beyond for the Vancouver market.
Lorne Burns, National Industry Leader, Building, Construction & Real Estate Practice, KPMG LLP
Colin Baryliuk, Managing Director, Investments, KingSett Capital
Trevor Blakely, Chief Executive Officer, Forgestone Capital
Mark Hannah, Managing Partner, Nicola Crosby Real Estate
Stirling Richmond, Vice President, Investment Properties, CBRE Limited
What lies ahead with respect to the cost, availability and sources of debt and equity capital for construction, short and long term needs? This panel discussion will examine what borrowers can expect in the Vancouver market for the second half of 2018. Will lenders be more or less aggressive in the remainder of 2018? What impact are provincial and federal government policies having on capital and the real estate market generally? How are lenders assessing risk and stress testing transactions? Are there any property classes that they are avoiding, reducing exposure to, or increasing pricing for? Case studies of actual transactions will be examined during the session.
Rob McJunkin, Chief Financial Officer, Anthem Properties
David Franklin, President, CMLS Financial Ltd.
Chris Enns, Executive Director, Mortgage Investments, KingSett Capital
Eric Horie, Senior Vice President, Head of Origination, Vancouver, Trez Capital
Garth Stoll, Vice President, Commercial Real Estate, HSBC
Pre-Luncheon Reception Sponsored By
Luncheon Sponsored By
Last May’s change in the provincial government has produced a more buoyant approach to infrastructure investment. What are the projects that will add new and revitalize existing infrastructure across the GVRD? How will they impact transportation and development within the Lower Mainland? How will they reshape Vancouver over the next 10 to 20 years? What opportunities does the investment activity create for development and investment?
Dr. Tsur Somerville
Norm Taylor, Executive Vice President & Managing Director, CBRE Limited
Kevin Desmond, CEO, TransLink
Dr. Tsur Somerville, Director, UBC Centre for Urban Economics and Real Estate & Real Estate Foundation of BC Professorship in Real Estate Finance
It may come as no surprise that some of the lowest commercial vacancy and unemployment rates coupled with the highest GDP growth can be found in a number of mid-markets. Shifting the magnifying glass from Vancouver and the Lower Mainland to cities such as Kelowna, Victoria and the Fraser Valley, this panel will examine the major trends in these communities. At the end of 2017, for example, there were over 1,900 multi-residential units under construction in Kelowna. How does investment and development activity in secondary markets differ from that of Vancouver? How are developers surfing the economic wave in Victoria? Are secondary markets a very good bet?
Don Campbell, Senior Real Estate Analyst, Real Estate Investment Network
David Chard, President & CEO, Chard Development Ltd.
Randall Shier, President, Mission Group
Renee Wasylyk, Partner, CEO, Trioka Developments
Ty Whittaker, Senior Vice President, Colliers International
Vancouver continues to evolve as a global city with an increasing regional population. The urban landscape continues to grow and change as new developments near completion along with those that are about begin. This session will examine major scale suburban development, as well as inner city development throughout the Lower Mainland. With diverse activity from TOD to mixed-use, how are developers creating viable projects given the land constraints and construction costs? What are the barriers to development and can Vancouver and the Lower Mainland overcome them? What are the most practical opportunities for investors at this time?
Andrew Ramlo, Vice President, Market Intelligence, Rennie Group
Gil Kelley, General Manager of Planning, Urban Design and Sustainability, City of Vancouver
Darren Kwiatkowski, Executive Vice President, Development & Design, Shape Properties
David Wesik, Executive Vice President, Wesgroup Properties
No other real estate property class has attracted as much attention as retail. Canadian, U.S. and European retailers are opening stores, closing them or looking for fresh approaches to their formats. There is a range of views on how online shopping is impacting the Canadian retail market. Given the power of e-commerce, and closures of major anchor tenants, how is the supply and demand balance at this time with respect to the various types of retail formats? Where is tenant interest in this market? Is there enough retail to service the new towers going up around TOD and more densified markets? How are the demographics of Vancouver and the Lower Mainland impacting spending habits and the market as a whole? Where is retail likely heading over the next five years?
Chris Wood, Principal, Northwest Atlantic Canada
Chris Doulos, Vice President, Cineplex Entertainment
Maria Holly, Vice President, Merchandising & Leasing, Shape Properties
Jim McLellan, Vice President, Real Estate, Indigo Books & Music Inc.
Darryl Schmidt, Vice President, National Leasing, The Cadillac Fairview
This panel of senior executives will share their predictions for the second half of 2018 and first part of 2019. If they were to take a gamble where would they place their bets? What trends do they see developing for Vancouver and the Lower Mainland? Who do they turn to as they plan for the future? Are they chasing yield or momentum? What are the key challenges, trends, and risks facing investors, owners and developers of office, retail, industrial and multi-family properties in the Vancouver market? Of all the opportunities in today’s market, what is the most significant one? Is 2018 the year to be bold or conservative?
Jennifer Podmore Russell
Jennifer Podmore Russell, Senior Vice President, Rennie Group
Avtar Bains, President, Premise Properties
Michael Emory, President & CEO, Allied Properties REIT
Paul Finkbeiner, President, GWL Realty Advisors Inc.
Stephen Wong, Managing Director, Atelier Capital Partners Inc.