Thursday October 1 9:00 am to 1:00 pm PDT "Read on" for Day 2 Program
Forum Chair Chuck We, Senior Vice President, Western Canada, Hudson Pacific Properties
The Lower Mainland is a region defined by steady population growth, the emergence of a Asia-centric global economy and an increasingly diversified industrial base, and accounts for a majority of B.C's population, GDP & business activity. This presentation will touch on these themes and provide an up-to-date forecast for the region’s economy.
Introduction: Jeff Brown, Regional Vice President, FCT Speaker:
Jock Finlayson, EVP & Chief Policy Officer, Business Council of British Columbia
In the first half of 2019, there was 700K sq.ft. of positive net absorption in the Vancouver market, with downtown vacancy falling to 2.4%. The suburban office market is a little softer. Vancouver has been ranked as the 12th of the top 50 markets for tech talent in North America. What are the underlying factors that are driving this strong demand? How are companies managing their future growth in such a tight market?
Moderator: Jocelyne Legal, Managing Director, Office Leasing, Cushman & Wakefield
Panel: Matt Carlson, Vice President, Colliers International Jeff Lim, Vice President, Leasing, BentallGreenOak (Canada) LP Jeff Rank, Senior Vice President, Office Leasing, QuadReal Property Group Stephen Smith, Managing Director, Western Canada, Manulife Real Estate
Overall investment activity in Vancouver has decreased from 2019. 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 are becoming the major challenges to buy assets in this market? Discussion will then focus on each asset class. Where are cap rates and valuation heading? How will the cost of capital affect investment decision-making? What does it take to complete an investment deal in this market? What do investment fundamentals look like for the remainder of 2020 and beyond for the Vancouver market?
Moderator: Lorne Burns, Naftional Industry Leader, Real Estate, KPMG
Panel: Trevor Blakely, Chief Executive Officer, Forgestone Capital Bob Levine, Principal, Avison Young Vera Liu, Director, Investments, KingSett Capital Andrew Tong, Senior Vice President, Investments, Concert Properties
A panel discussion will examine the construction and debt financing markets and what borrowers can expect for the remainder of 2020 and beyond. This will include comparative insights from a cross-section of lenders. To what extent are their priorities, underwriting and strategies varying at this time? How are they assessing a transaction and pricing it in this market? How are bond yields and government regulations affecting spreads? Are there any property classes that they are avoiding or reducing exposure particularly with respect to construction financing?
Moderator: Brett Sandler, Chief Financial Officer, Bosa Properties
Panel: Sam Brown, Senior Vice President, Origination and Product Development, CMLS Capital Chris Enns, Executive Director, Mortgage Investments, KingSett Capital Bill Sherritt, Director, Community Business & Real Estate, Vancity Savings Credit Union
Concurrent Sessions (Select C1, C2 or C3)
Technological innovation is transforming the world at unprecedented speed and the real estate market and industry is not exempt from this transition. PropTech is now a commonly used term pertaining to the intersection of real estate and technology. What is the range of strategies that you could be considering?
Moderator: Jennifer Sicilia, Vice President & General Manager, RYCOM Corporation
Panel: Monika Jaroszonek, Co-Founder & CEO, RATIO.CITY Lachlan MacQuarrie, Head of Platform Services, Oxford Properties Shawn Punton, Director, Operations, Hudson Pacific Properties Jas Saraw, Vice President, Canada, Procore Technologies
Despite having some of the highest land and construction costs in Canada, Vancouver is still seeing strong levels of development activity. This session will examine projects that have gone through the process and have been successful, as well as both larger scale suburban development, inner city projects and activity in the Lower Mainland. How are viable projects going forward given land constraints and construction costs?
Moderator: Bill Tucker, Chief Executive Officer, Omicron
Panel: Michael Heeney, President & CEO, Surrey City Development Corporation Darren Kwiatkowski, EVP, Acquisitions + Development, Shape Properties Corp. Christopher Mullins, Senior Director, Cost & Project Management, Altus Group
As Vancouver continues to grow as a global gateway city and popular tourist destination, it also continues to be an attractive market for new retailers. While stores like Hermes and Tiffany & Co. have doubled down their footprints in the downtown core, a plethora of Asian-based low-cost retailers are also setting up shop. How do new tenants like Colony and Cineplex Rec Room fit into the traditional retail environment? What other strategies are owners and developers using to fill vacant space? The panel will examine this and also consider other emerging trends and how landlords and retailers are responding to them.
Moderator: Adrian Beruschi, Senior Vice President, CBRE Limited
Panel: Chris Doulos, SVP Real Estate, Design and Construction, Cineplex Entertainment Brodie Henrichsen, Senior Vice President, Retail, JLL Maria Holly, Senior Vice President, Merchandising & Leasing, Shape Properties Eric Sherman, Vice President, Real Estate, Yorkville, First Capital Realty
A panel of senior real estate executives will share their insights about the Vancouver market for the second half of 2020 and beyond. What trends are they watching closely in Vancouver and the Lower Mainland? What key challenges and risks face investors, owners and developers of office, retail, industrial and multi-family properties in this market? Is the demand for more space sustainable? What asset classes and transactions will likely offer the best possible returns in 2020? What are their overall views of Vancouver as a key strategic market?
Moderator: Chuck We, Senior Vice President, Western Canada, Hudson Pacific Properties
Panel: Michael Emory, President & Chief Executive Officer, Allied Properties REIT Kevin Leon, President, Crestpoint Real Estate Investments Ltd. Richard Weir, EVP, Acquisition & Asset Management, Bosa Development Corp.
Forum Chair: Chuck We, Senior Vice President, Western Canada, Hudson Pacific Properties