Exclusive networking for all Forum delegates. A unique opportunity to tour elements of the first national museum to be created since 1967 and the first ever to be located outside of the National Capital Region. A fascinating award winning and iconic building that will be a great experience in its own right.
Arni Thorsteinson, President, Shelter Canadian Properties Limited
The Honourable Brian Pallister, Premier of Manitoba
Within the Canadian context, Winnipeg has had one of the best economic performances of any large city (population over 500,000) in Canada since the global downturn in 2009. The city has maintained a generally stable economy. This presentation will examine the outlook of this unique market and why it continues to enjoy a relatively low unemployment rate of around 6%. Winnipeg’s GDP has performed above the national average over the past six years and manufacturing has shown signs of additional strength in this market. How do the prospects compare with the outlook for other major Canadian cities? To what extent is a U.S. economic recovery affecting this market?
Douglas Porter, Chief Economist & Managing Director, BMO Financial Group
An overview of leasing and investment activity in Winnipeg over 2015 and the first Quarter of 2016. What were the benchmark leasing and investment deals during the past twelve months? What is the outlook for the remainder of 2016 and beyond in the office, retail, industrial and multi-unit residential sectors in terms of absorption rates, cap rates and leasing and investment activity? How do the prospective trends for Winnipeg compare with other major Canadian markets?
Don White, Executive Vice President, Colliers International
Two essential elements found in many of today’s successful cities are a diversified range of strong economic drivers coupled with a vibrant population and culture that inspires and attracts an intellectual market of residents. So how does Winnipeg fare in this regard? What competitive advantage does it offer?
The city has a highly educated and productive workforce, low cost energy, a central location with excellent multi-model transportation system for distribution of goods to market, and a diversified manufacturing base that includes agri-business, financial services, and aerospace among other industries. Strong retail sales continue to grow. Winnipeg’s is experiencing steady job growth and unemployment rates among the lowest in the country. At the same time, the city provides an outstanding balance between work and quality of life and offers one of the lowest overall business costs of any major Canadian centre. What are some of the major drivers responsible for Winnipeg’s stable economy? The presentations will also include a brief update on Centre Port Winnipeg: the development of an 20,000 acre tri-modal inland port.
Vince Barletta, Leader, YES! Winnipeg
Brad Chase, Vice President, Logistics & Multi-Modal, Bison Transport Inc.
Steve Kroft, President & CEO, Conviron, and Chair, Business Council of Manitoba
Dayna Spiring, President & CEO, Economic Development Winnipeg and Former Chief Strategy Officer, Canadian Wheat Board
This session will examine what the future holds for the Winnipeg office market. Where are vacancy rates, cap rates and other underlying leasing and investment fundamentals heading at this time? Office space NERs tend to range widely from $6 to $25 per square foot – among the lowest in major Canadian cities. What will it take to increase these rates? Are owners afraid to push rental rates even though operating costs are considerably lower than other markets across Canada? How are Class B and C properties performing compared to Class A space? What does the future hold for the large proportion of older buildings that dominate a number of parts of the city? Can these aging assets be strategically repositioned? What is the outlook for demand for the remainder of 2016 and beyond? How will the new supply affect leasing fundamentals? Is the downtown market edging out suburban office?
Noah Hughes, Vice President, Leasing & Development Projects, Bentall Kennedy (Canada) LP
Brian Bastable, Vice President, Slate Asset Management LP
Brad Goerzen, Vice President, Leasing, Central Region, Artis REIT
Sean Kliewer, Associate Vice President, Colliers International
Graham Zakaluk, Vice President, Portfolio Manager, I.G. Investment Management Ltd
With over 80 million square feet of industrial space, Winnipeg is the largest distribution centre between Vancouver and Toronto. The city is at the core of both of Canada’s national intermodal rail systems with direct connections to the United States via Burlington Northern. Winnipeg is also the headquarters for many of the top inter-provincial general freight carriers in Canada and offers access to ocean ports through Churchill and Thunder Bay. How is the industrial real estate market performing? Where are vacancy rates at this time? How is CentrePort Canada affecting the market? Is there any increase in demand for more industrial space? What does the future hold for the older industrial properties that do not easily meet the needs of today’s logistics market and may be facing obsolescence? Is any speculative development likely? Are we seeing more investors from Alberta and BC coming to Winnipeg?
Martin McGarry, President, Cushman & Wakefield Winnipeg
Murray DeGirolamo, Executive Vice President, Hopewell Development
David Eyre, Principal, Vermont Property Group
Michael Hungerford, Partner, Hungerford Properties
Chris Vodrey, Director, Leasing, Morguard
Across Canada, there is an unprecedented amount of urban revitalization and development 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 Winnipeg to provide some insights on development trends in this market. A senior planning official of the City will be joined by two developers/investors, a general contractor and a leading architect to offer some very wide ranging perspectives. Discussion will examine planning policies, economic and social forces that are responsible for the intensification activity, and what the implications of these trends are for real estate development activity going forward, e.g. live/work/play/learn? Will these trends likely continue? Where are construction costs heading at this time?
John Stefaniuk, Partner, Thompson Dorfman Sweatman LLP
Sean Barnes, Vice President & District Manager, PCL Constructors Canada Inc.
John Kiernan, Director, Planning, Property & Development Department, City of Winnipeg
Ben Myers, Senior Vice President, Market Research & Analytics, Fortress Real Developments
John Wintrup, Partner, Land Development Consultant, Richard Wintrup & Associates
The Winnipeg retail market is experiencing some strength in leasing and growth. So what does the future hold? How is the supply and demand balance at this time with respect to the various types of retail formats being offered, tenant interest in this market, and levels of consumer spending? What are some of the new developments and their attributes that are responding to this market? Is differentiation also a key ingredient between existing centres and new projects? What plans do various retail owners in Winnipeg have with respect to upgrading their existing properties? Who are new retailers that are expected to be come into this market? What formats and innovations are growing the most in popularity, e.g. an outlet mall? To what extent are e-commerce, online shopping and omnichannel strategies having any impact on the Winnipeg retail market?
Derrick Chartier, Principal, Capital Commercial Real Estate Services Inc.
Michel Avigliano, Vice President, Retail, Hopewell Development
Blair Forster, President, Forster Projects Inc.
Deborah Green, General Manager, Polo Park, The Cadillac Fairview Corporation Limited
Bruce Hamilton, President, Royal Canadian Properties Limited
A panel discussion will examine the market fundamentals, challenges and dynamics related to residential and condominium development in the Winnipeg market. What are current land values and where are they potentially heading for 2016 and beyond? What is the outlook for 2016 and beyond for condominium and single family housing land and development? Are mixed-use projects a means for introducing more residential product into the market like Glasshouse Lofts? Can these developments help revitalize inner city areas? Is there a strong demand for more condos in Winnipeg? Are there any infrastructure and transportation improvements that should be priorities going forward to meet the need of all of this inner city and suburban growth?
Chris Daly, Principal Architect, MMP Architects Inc.
Braden Batch, Senior Market Analyst, Canada Mortgage and Housing Corporation
Mark Olson, President & CEO, LandStar Development Corporation
Vince Spezzano, Vice President, Business Development, Multi-Family, A&S Homes
Eric Vogan, Vice President, Qualico Communities Winnipeg
An insightful discussion about investment activity in the Winnipeg 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 Winnipeg? How much migratory capital is making its way into this market from BC and Alberta? With the continued access to low priced capital and a strong number of potential buyers, how much of a disconnect is there between supply and demand of product? Where will cap rates be by 2017 relative to today’s prices? Which property classes and what quality of assets are most strongly favoured by investors? How does the investment market in Winnipeg compare with other Canadian cities?
Trevor Clay, Principal, Capital Commercial Real Estate Services Inc.
Ugo Bizzarri, Managing Director, Portfolio Management & Investments, Timbercreek Asset Management
Matthew Johnson, Executive Director, Investments, KingSett Capital
Laetitia Pacaud, President, Strathallen Capital Corp.
David Young, Executive Vice President, Managing Director, Edmonton, CBRE Limited
Tom Thiessen, Executive Director, BOMA Manitoba
Kelvin Shepherd, President & CEO, Manitoba Hydro
Numerous iconic projects are playing a significant role in redefining Winnipeg. This session will examine the current most significant redevelopment, how it will impact the local economy and what spin-off projects are contemplated or underway within its vicinity. The words “transformative,” “world-class” and “iconic” were used repeatedly in describing plans for a two-acre public plaza in downtown Winnipeg that will include a skating rink and many other public uses. This session will examine True North Square, a $400-million mixed-use development that will include a five-star hotel, office, retail and residential spaces, public art, terraces, cafe seating, skywalks, specialty lighting, streetscaping, street furniture, a water feature and a parkway along Carlton Street. Some brief discussion will also provide an update on CentrePlan, the City of Winnipeg’s visionary downtown strategy.
Shawna Lounsbury, Partner, KPMG LLP
Jim Ludlow, President, True North Real Estate Development Limited and President & CEO, True North Sports & Entertainment Limited; Winnipeg Jets Hockey Club
Angela Mathieson, Chief Executive Officer, CentreVenture Development Corporation
This session will examine the principal trends in demand, supply and investment activity in the Winnipeg apartment market. What is the short and medium term outlook for the performance of the multi-unit residential sector? How diversified is this market? What caused the vacancy rate to jump modestly at year-end? Where are rent levels heading over the next twelve months? Is the condominium market having an impact on the apartment sector? Is there a possibility that there has been too much construction of new buildings? Where are cap rates heading as investors continue to show strong interest in this property class? Has CMHC mortgage insurance had any impact on apartment values? How have provincial regulations affected rent increases and condominium conversions in this market?
Brad German, Vice President, Montrose Winnipeg
Bill Hoffer, Senior Director & General Manager, Winnipeg, Altus Group
Karl Loepp, Chief Operating Officer, Private Pension Partners
Phil McAmmond, Vice President & CEO, The Sunrex Group of Companies
Meril Rivard, Proprietor, Rivard Group of Companies
A panel discussion that will focus specifically on the debt market and try to determine what borrowers can expect for the remainder of 2016 and beyond. Who are the major sources of CMHC-insured and conventional mortgages in Winnipeg? Where are pricing and loan availability trending in 2016? How are lenders assessing risk and stress testing transactions? To what extent do lending strategies vary amongst banks, credit unions, lifecos, MICs and other sources? 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 discussion.
Ron Margolis, President, Margolis Capital – Commercial Mortgage Professionals
Ron Margolis, President, Margolis Capital – Commercial Mortgage Professionals
Chase Allen, Vice President, Origination, Canada ICI Capital Corporation
Rick Bachalo, Vice President, Mortgage Investments, Great-West Life Assurance Company
Franca Cerqueti, Director, Commercial Markets, Sales & Service, Assiniboine Credit Union
Dean Proctor, Vice President & Deputy Regional Manager, Prairies, Canadian Western Bank
A roundtable discussion with senior real estate executives as they provide their perspective on real estate market fundamentals for 2016 and beyond for the Winnipeg market and Canada as a whole. 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:
Arni Thorsteinson, President, Shelter Canadian Properties Limited
Tony Astles, Executive Vice President, Real Estate Services, Western Canada, Bentall Kennedy (Canada) LP
Armin Martens, President & CEO, Artis REIT
Richard Morantz, President &: CEO, Globe General Agencies
Kevin Pshebniski, President & CEO, Hopewell Development
Sandy Shindleman, President & CEO, Shindico