Conference Program
Day One
Wednesday, October 28
9:00 am to 12:30 pm CDT
"Read on" for Day 1 Program
8:30 am
NETWORKING LOUNGE OPENS
9:00 am
OPENING COMMENTS
Forum Chair:
Jim Ludlow, President, True North Real Estate Development
9:10 am
THE ECONOMIC OUTLOOK FOR THE WINNIPEG MARKET: HAS COVID-19 ALTERED ITS PREVIOUS COURSE?
Within the Canadian context, Winnipeg has had one of the best economic performances of any large city since the global downturn in 2009. It has maintained a generally stable economy as the city’s GDP has performed above the national average over the past ten years as well. But COVID-19 emerged unexpectedly in March. With widespread retail, business and production shutdowns, declining consumer spending, and accelerating levels of unemployment, the pandemic had an economic impact. Here is an update on where are we now. How has the Manitoba economy fared so far through the pandemic? How much softness has COVID-19 created? Is Manitoba recovering faster than other provinces?
Andrew Grantham, Senior Economist, CIBC World Markets
9:40 am
HOW ARE WINNIPEG LEASING AND INVESTMENT MARKETS PERFORMING DURING THIS UNPRECEDENTED TIME?
An overview of leasing and investment activity in Winnipeg over 2019 and the first three quarters of 2020. How did leasing and investment activity change once the pandemic emerged? What is the outlook for the remainder of 2020 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?
Trevor Clay, Principal, Capital Commercial Real Estate Services Inc.
10:10 am
WINNIPEG’S COMPETITIVE EDGE
Two essential elements found in many 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. 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, aerospace and other industries. Winnipeg offers one of the lowest overall business costs of any major Canadian centre. What are some of the major drivers responsible for this market’s relatively stable economy? How have these factors played a role in helping Winnipeg manage its way through the pandemic so far?
Ryan Kuffner, Vice President, Sales and Business Development,
Economic Development Winnipeg
WHAT WINNIPEG IS DOING TO FACILITATE GROWTH NOTWITHSTANDING COVID-19: A FIRESIDE CHAT WITH THE MAYOR
Mayor Brian Bowman, City of Winnipeg
In conversation with:
Dan Chubey, Managing Director, Winnipeg, Colliers International
11:20 am
NETWORKING LOUNGE AND CHAT ROOMS
11:40 am
Concurrent Sessions (Select A1, A2 or A3)
Session A1
TO WHAT EXTENT HAS COVID-19 IMPACTED THE OFFICE MARKET? WHAT ARE ISSUES THAT LANDLORDS AND TENANTS HAVE BEEN ADDRESSING? WHAT DOES THE FUTURE HOLD?
Prior to the pandemic, the Winnipeg office market had witnessed significant investment and emergence of new commercial districts. Then in March, companies and people had to abandon their offices as governments mandated that employees work remotely from home. How have these protocols affected the office market? This session will begin by examining a wide range of the unprecedented issues and challenges landlords and tenants faced as a result of the pandemic. What has been the impact on leasing activity and NERs? Are there any permanent shifts that may result from the impacts of COVID-19? In a bigger picture, can True North Square and Portage and Main not only co-exist but both thrive? How are Class B and C properties performing compared to Class A space at this time?
Moderator:
Ryan Behie, Vice President & Managing Director, CBRE Limited
Panel:
Aaron McDougall, Vice President, Leasing, Harvard Developments Inc.
Evan Johnston, Senior Vice President & Chief Legal Officer,
Wawanesa Insurance
Fabricio Mendes, Vice President, Acquisitions & Dispositions, Artis REIT
Jamie Petch, Senior Vice President, Office, KingSett Capital
Session A2
IS INDUSTRIAL REAL ESTATE ON FIRE? HAS COVID-19 HAD A POSITIVE IMPACT THIS MARKET?
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 has the industrial real estate market been performing through the pandemic? Has COVID-19 created accelerated demand for more distribution and logistical space? What kind of tenants are propelling growth at this time? Are industrial tenant requirements changing? How are landlords responding? Is growth and development continuing in many areas including the CentrePort Canada area? What is the overall vacancy rate now? What does the future hold?
Moderator:
Aaron DeGroot, President, Cushman & Wakefield Winnipeg
Panel:
Diane Gray, President & CEO, CentrePort Canada
Calvin Polet, President, Neptune Properties
Marissa Poseluzney, Vice President, Leasing, QuadReal Property Group
Chris Vodrey, Director, Leasing, Morguard
WHY JOIN REF CLUB? SEE BELOW
REAL ESTATE FORUM CLUB (REF Club)
Session A3
CONSTRUCTION & DEVELOPMENT ACTIVITY ACROSS WINNIPEG: WHAT CAN WE LEARN FROM THESE PROJECTS? WHAT ARE SOME MAJOR TRENDS?
Across Canada, there has been an unprecedented amount of urban revitalization and development for the past ten years on a scale that has not been seen for decades. Aside from residential and commercial projects, major public sector and infrastructure projects have also been at the forefront of construction activity. This has been the case in Winnipeg as well. From the ongoing transformation of the downtown core thru CentrePlan and the revitalization of the Exchange District to the Smartpark Innovation Hub and spec commercial development projects. Numerous iconic projects are playing a key role in redefining the city. This session will examine some of the current most significant developments, and how they are impacting Winnipeg. How has the pandemic affected development activity and projects that are in the pipeline? Is uncertainty in construction costs among other issues having an impact on activity as well?
Moderator:
Don White, Chief Executive Officer, Private Pension Partners
Panel:
Chase Allen, Managing Director, Winnipeg, Canada ICI
Wendy Janzen, Vice President, Manitoba, Colliers International
Loretta Martin, Director of Development, CentreVenture Development Corporation
Greg Rogers, Chief Executive Officer, UM Properties LP
12:35 pm
NETWORKING LOUNGE AND CHAT ROOMS
Conference Program
Day Two
Thursday, October 29
9:00 am to 12:30 pm CDT
"Read on" for Day 2 Program
8:30 am
NETWORKING LOUNGE OPENS
9:00 am
OPENING COMMENTS
Forum Chair:
Jim Ludlow, President, True North Real Estate Development
9:10 am
ONE ON ONE WITH A CANADIAN REAL ESTATE THOUGHT LEADER
Introduction:
Tom Thiessen, Executive Director, BOMA Manitoba
Interviewer:
Jon Love, Chief Executive Officer, KingSett Capital
In conversation with:
Jim Ludlow, President, True North Real Estate Development
10:00 am
Concurrent Sessions (Select B1, B2 or B3)
Session B1
RETAIL IS BEING BRUISED DURING COVID-19: HOW ARE
LANDLORDS & RETAILERS SURVIVING THE IMPACTS?
WHAT DOES THE FUTURE HOLD?
Under normal market conditions, no other real estate property category has attracted as much chatter in recent years as retail. Once a favourite of investors, this property type has been facing many increasing challenges for some time. But COVID-19 resulted in a considerable number of stores and restaurants to close due to healthy and safety government mandates. In a pandemic, certain types of retail have become the most vulnerable property type. This panel discussion will examine a wide range of key issues that both landlords and retailers have been dealing with in the current situation. How have malls performed vs. power centres vs. grocery anchored centres vs. street retail? With the surge in online shopping due to mandated closure of most retail outlets, what happened once stores, malls and restaurants reopened? How are brick and mortar going to co-exist with online shopping? How can landlords redefine the onsite retail experience for shoppers? This session will examine these and other trends pertaining to the future of the retail property market.
Moderator:
Rennie Zegalski, Principal, Capital Commercial Real Estate Services Inc.
Panel:
Peter Havens, General Manager, CF Polo Park, The Cadillac Fairview Corporation Limited
Angela Mathieson, CEO, CentreVenture Development Corporation
Mauro Padula, Vice President, Leasing, Western Region, SmartCentres REIT
Trevor Thomas, Vice President, Retail, JLL
Session B2
WHAT ARE ENTREPRENEURS DOING IN TODAY’S MARKET
TO SUCCEED?
Given the strong investor sentiment in the Canadian market, major opportunities have emerged for entrepreneurialism in the real estate industry. In the Winnipeg market, who are some of them and what are they doing? They are experienced at looking for innovation. They are often privately-owned firms. While they do not dismiss risk, they often have the ability to see value and reward where many others do not. What have been the most significant challenges that they have had to endure? How are they managing through the pandemic? Do they see opportunities unfolding in the future as the economy recovers with aging inventory of existing buildings and the potential to repurpose assets from one use to another, e.g. transforming aged inventory into new buildings, repurposing B class industrial into retail?
Moderator:
Martin McGarry, President, MMI
Panel:
Bryce Alston, Director, Alston Properties
Karl Loepp, Chief Operating Officer, Private Pension Partners
Sam Sidhu, President, Whiteland
John Stroich, President & Managing Director, LS Properties and Green Valley Management
Session B3
INVESTOR INTEREST IN WINNIPEG: WHO WANTS TO INCREASE
THEIR PRESENCE IN THIS CITY? IS 2020 THE STORY
OF A BIFURCATED MARKET?
An insightful discussion about investment activity in the Winnipeg market over the past nine months. The session will begin with a brief overview of what happened over this period of time – prior to the pandemic and after it arrived? The panel will address a range of questions including: What have been the major challenges facing investors trying to buy assets in Winnipeg? With the continued access to very low-priced capital, is there a growing interest among buyers as the year moves to an end? How much of a disconnect is there between supply and demand of product? Where will cap rates be by 2021? Are there challenges in valuations that create issues for investment activity? What needs to happen in order for investment activity to grow?
Moderator:
Bryn Oliver, Principal, Capital Commercial Real Estate Services
Panel:
Brian Bastable, Managing Director, Slate Asset Management LP
Phil Brown, Vice President, Acquisitions & Leasing, Industrial, Hopewell Development LP
David Hanick, Chief Legal Officer, Starlight Investments
Gord Wiebe, CEO & Principal, Corpfin Capital
11:00 am
Concurrent Sessions (Select C1, C2 or C3)
Session C1
GROWING INTEREST IN BRANDON, PORTGAGE LA PRAIRIE AND STEINBACH: WHAT ARE THE KEY FACTORS ABOUT THESE
SECONDARY MARKETS?
While 60% of the province’s population is concentrated in the capital city, communities such as Brandon, Portage la Prairie and Steinbach are hitting above their weight when it comes to growth and new development. Some may call them “sleeper” communities, but they have awakened the interest of big players. In Portage la Prairie, A region of 20,000 has locked down $1.2 billion worth of new investment. Downtown Brandon has a number of projects that are breathing new life into formerly abandoned buildings. The first phase of Steinbach North Business Park with commercial, office, retail and services on nearly 80 acres of land opened last summer. This session will examine the state of the secondary markets including the question of what impact did COVID-19 have on these communities once it accelerated in March. Where are we now?
Moderator:
Todd Labelle, Senior Associate, Investment, Land, Retail, Avison Young
Panel:
Steve McMillan, Vice President, Planning Services, VBJ Developments
Eve O'Leary, Executive Director, Portage Regional Economic Development, Portage la Prairie
Bob Schinkel, Owner & CEO, Schinkel Properties
Click image for Sponsorship Opportunities
Session C2
FACTS & FALLACIES ON HOW THE APARTMENT MARKET HAS PERFORMED IN 2020: BETTER THAN YOU THINK?
Last year, multi-unit residential moved to the top of many preferred property portfolios for a growing number of investors. Major immigration trends and strong employment contributed to a high demand scenario resulting in record low vacancy rates in many major cities and mid-markets. Then came COVID-19 resulting in accelerated unemployment and a steep decline in immigration. Concerns immediately were raised about rent collection related to the ability of unemployed tenants to pay but government programs enabled many tenants to pay their rent. How has the multi-residential market performed since March? Is it still an ideal property class to be in? 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? Have changes in CMHC mortgage insurance had any impact on apartment values? This session will provide insights into operations, communications and management during the pandemic along with the aforementioned questions.
Moderator:
Rod Slaughter, Vice President, Altus Group
Panel:
Craig Gilpin, Chief Operations Officer, Ironclad Developments Inc.
Frank Koch-Schulte, Vice President, Edison Properties
Cornelius Martens, Principal, Marwest Group of Companies
Arni Thorsteinson, President & Principal, Shelter Canadian Properties Limited
Session C3
HOW HAS THE PANDEMIC AFFECTED THE DEBT MARKETS?
WHAT LIES AHEAD?
A panel discussion that will focus specifically on the debt market and try to determine what borrowers can expect heading into 2021. Who are the major sources for conventional mortgages in Winnipeg? How are insured lenders adjusting to recent CMHC policy changes? How has the dramatic drop in bond yields in 2020 impacted loan rates? How has land development and construction financing availability changed? How are lenders assessing risk and stress testing transactions? To what extent do lending strategies vary amongst banks, credit unions, lifecos, and other entities? As a result of continuing COVID-19 uncertainty, are there any property classes that lenders are avoiding, reducing exposure to, or increasing pricing for?
Moderator:
Ron Margolis, President, Margolis Capital, Commercial Mortgage Professionals
Panel:
Rick Bachalo, Vice President, Mortgage Investments,
The Canada Life Assurance Company
TJ Lee, Director, Commercial Origination, MCAP
Raj Patel, Vice President, Commercial Real Estate, Public Sector and Supply Chain, RBC Royal Bank
Cynthia Wepruk, Director, Business Financial Centre, Assiniboine Credit Union
1:20 pm
EXECUTIVE ROUNDTABLE:
KEY QUESTIONS ON THE MINDS OF LEADERSHIP AND INVESTORS:
HOW WILL YOU DELIVER PERFORMANCE DURING COVID-19 AND
ONCE IT ENDS?
An insightful examination of the challenges, trends, and issues facing CEOs and real estate investors as they manage their business through the pandemic, and what are their thoughts on the outlook for 2021. Some of the questions that will be examined include:
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As we move through the pandemic, what do you consider to be the greatest opportunities and risks to your business at this time? What strategies are you pursuing as a result?
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What stories can you share with us about leadership, optimism, philanthropy and human resiliency that emerged during the past
seven months?
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What are the “silver linings” that will emerge from this pandemic?
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What are the key steps that you are taking to grow your business now: are you playing defense or offense? When do you expect to shift from “survival” mode to long term strategic thinking?
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What are the most significant challenges, trends, risks and opportunities for investors and owners in the Winnipeg market?
Moderator:
Jim Ludlow, President, True North Real Estate Development
Panel:
Mark Chipman, Executive Chairman, True North Sports + Entertainment
Rosanne Hill Blaisdell, Managing Director, Harvard Developments Inc.
Sandy Shindleman, President & CEO, Shindico
Don Solman, Vice President & CFO, James Richardson & Sons, Limited
12:50 pm
CLOSING REMARKS
1:00 pm
ADJOURNMENT & NETWORKING LOUNGE
