Thursday September 24 10:00 am to 2:30 pm EDT "Read on" for Day 2 Program
Michael Brooks, Chief Executive Officer, Real Property Association of Canada
Vlad Volodarski, Chief Executive Officer, Chartwell Retirement Residences Pammi Bir, Managing Director, Global Equity Research, RBC Capital Markets
Click image for Sponsorship Opportunities
As the current unprecedented and challenging time continues to evolve, everyone across the real estate industry is looking for answers to an increasing number of questions. One of the founders of Canadian REITs and the longest serving CEO will share his insights on the current situation and horizon. He will draw upon key lessons learned from his vast background as we find ourselves in another recession and answer chief questions: Where do we go from here? What should we be planning to do once the recovery begins?
Ed Sonshine, Chief Executive Officer, RioCan REIT
Interviewed by: Stephen Sender, Trustee and Director of various Boards
An insight to the path of epidemiology and where the pandemic is likely heading. Will there be a second large wave in the Fall or Winter or Spring of 2020/2021 or will there more likely be a series of shorter, smaller waves? What should we expect? What implications will there be for the overall economy? Where are we at that stage? What are the prospects and timing for a vaccine? Insights from a leading epidemiologist on where COVID-19 could be heading and what lies ahead as we look for the pandemic to come to an end. He will also explain that while we can’t ignore our economy, we won’t have robust revitalization without strong surveillance systems and health-protection measures. A frightened and grieving population will not drive a strong economic recovery.
Dr. David Fisman, Epidemiologist, Professor at the Dalla Lana School of Public Health, and a practicing physician at Toronto’s University Health Network
Concurrent Sessions (Select B1, B2 or B3)
Around the world, companies and people had to abandon their offices as governments mandated everyone to work to contain the spread of COVID-19. How have these protocols affected Canada’s 530M sq.ft. office market? A wide range of unprecedented issues will be examined that landlords and tenants have faced as a result of the pandemic. The discussion will focus on topics from both the perspective of office landlords as well as users. For example: how have landlords responded to the challenges facing some of their tenants; what steps respectively have landlords and tenants taken when they reopened offices and buildings; what permanent shifts may result from the impacts of the pandemic, e.g. will office floors, workplaces and buildings be redesigned, will demand and, in turn, rents decline as more people work remotely partially or fulltime, will location location matter if remote working succeeds?
Access the Full Program
Moderator: Sheila Botting, Principal & President, Professional Services, Americas, Avison Young
Panel: Matt Kornack, Director, Real Estate Equity Research National Bank Financial Tim Low, Senior Vice President, Leasing, Allied Properties REIT Bernard Poliquin, Chief Real Estate Operations Officer & EVP, Office & Industrial, Cominar REIT Kim Riley, Executive Vice President, Investments & Developments, Artis REIT Gord Wadley, Chief Operating Officer, Dream Office REIT
One of the most significant issues that all commercial real estate mortgage lenders, investors, brokers and owners face today is being able to get a handle on property valuations. Have there been pauses in property financing while lenders evaluate COVID-19 disruption and its actual impact on property cash flows? Will tenant’s business—and not just its credit worthiness—now affect valuation? How has this situation impacted property liquidity? Interrupted and, in some cases, erratic cash flows, an uncertain economic recovery, coupled with a decline in investment activity have all made property valuation a challenge. Low transaction volume has eroded confidence in pricing new transactions. What’s the new risk paradigm? This important conversation will try to provide some clarity during these uncertain times.
Moderator: Colin Johnston, President, Research Valuation and Advisory, Canada, Altus Group
Panel: Sam Brown, Senior Vice President, Origination & Product Development, CMLS Financial Jason Castellan, Co-Founder & CEO, Skyline Group of Companies Dennis Mitchell, Chief Executive Officer & CIO, Starlight Capital Tom Rothfischer, Partner, KPMG LP
Data is playing two significant roles in the REIT market. On the one hand, senior executives are using a wider range of information that enhances their strategic planning and all aspects of decision-making. REITs also continue to experience growing demand from all stakeholders to effectively disclose and manage their environmental, social and governance (ESG) performance. This session will examine the wide range of options being used including voluntary disclosure, guidance, and aggregated frameworks. How are organizations using this information within their investment, development and asset management decision-making? What is the evidence that strong ESG practices coupled with public disclosure results in superior investment returns, e.g. higher rental income and lower interest expenses?
Moderator: Stephen Pacifico, Director, Sustainability & Innovation, Epic Investment Services
Panel: Andrew Moffs, Senior Vice President & Portfolio Manager, Vision Capital Ben Mullen, Vice President, Asset Management, Minto Group Teresa Neto, Chief Financial Officer, Granite REIT Joe Solly, Partner, Sustainability & Climate Change Practice, Eastern Canada, Deloitte
Concurrent Sessions (Select C1, C2 or C3)
Last year, multi-unit residential moved to the top of many preferred property portfolios for a growing number of investors. And then came COVID-19 resulting in accelerated unemployment and a steep decline in immigration. Concerns were immediately raised about rent collection related to the ability of unemployed tenants to pay. How has the multi-residential market really performing since March? What impact are lower financing costs, lower utility costs, lower repair and maintenance costs and non-existent CAPEX having on the value of these assets? When do they see a return to more stable market conditions? We will address these and many other questions.
Moderator: David Bloomstone, Director, Investment Banking Real Estate Group & Head, Multi-Residential Property Brokerage, TD Securities
Panel: Brad Cutsey, President, InterRent REIT Glen MacMullin, Chief Investment Officer, Minto Apartment REIT Robert Richardson, Executive Vice President, Killam Apartment REIT Mark Rothschild, Managing Director, Real Estate Analyst, Canaccord Genuity Markets
This session will examine the experiences of some smaller REITs and what their growth strategies are to achieve greater mass and attract institutional/retail followings. What are the challenges facing management and how are they addressing them? Is the pressure to acquire properties and grow pushing smaller REITs to other markets and property types? Is the pandemic creating issues for them to execute their strategies going forward?
Moderator: Andrew Wallace, Head of Real Estate, Investment Banking, National Bank Financial
Panel: Steve Hodgson, Chief Executive Officer, Slate Office REIT Milton Lamb, President & CEO, Automotive Properties REIT Michel Léonard, President & CEO, BTB REIT Jenny Ma, Director, Equity Research, BMO Capital Markets Michael Zakuta, President & CEO, Plaza Retail REIT
Prior to COVID-19, industrial real estate was on a significant comeback trail. Vacancy across the country had fallen to a historically low level of 2%. NERs and CAP rates reached record numbers in many cases. Over 25M sq.ft. was under development as demand surged for modern higher quality buildings, especially for the distribution and logistics sectors. How has COVID-19 created accelerated demand for distribution and logistical space? In which markets? How has the pandemic impacted this multi-billion square foot property class and its strong leasing, investment and development trends? How strong is investor interest overall in industrial properties?
Moderator: David Tweedie, Director, RBC Capital Markets Real Estate Group
Panel: Paul Dykeman, Chief Executive Officer, Summit Industrial Income REIT Lorne Kumer, Executive Vice President, Head of Global Real Estate, Granite REIT Steve Scott, Chairman & CEO, StorageVault Canada Ayesha Shafiq, Senior Vice President, Real Estate Investments, Dream Industrial REIT
An insightful examination of the challenges, trends, and issues facing Canadian REITs and REOCs, what CEOs are doing to manage their business through the pandemic, and what are their thoughts on the horizon once a recovery can begin. The following are just some of the questions that will be examined:
Moderator: Vlad Volodarski, Chief Executive Officer, Chartwell Retirement Residences
Panel: Neil Downey, Managing Director, Global Equity Research, RBC Capital Markets Scott Frederiksen, Chief Executive Officer, WPT Industrial REIT Mark Kenney, President & CEO, CAPREIT Ashley Lawrence, Managing Director, Real Estate, Regional Head, Canada, Brookfield Property Group Adam Paul, President & CEO, First Capital REIT