Real Estate Capital Markets in Stormy Seas
Navigating Through the Credit and Liquidity Crunch
Wednesday, January 30, 2008 - TORONTO
- Benjamin Tal, Senior Economist, CIBC World Markets Inc.
- Richard Baillie, Director, Commercial Mortgages, Sun Life Financial
- Paul Campbell, President & Chief Executive Officer, SITQ (Société immobilière Trans-Québec)
- Sam Damiani, Vice President & Director, Real Estate & Lodging, Equity Research, TD Newcrest - TD Securities Realty Group Inc.
- Michael Emory, President & Chief Executive Officer, Allied Properties REIT
- Ira Gluskin, President & Chief Investment Officer, Gluskin Sheff + Associates Inc.
- Bill Jandrisits, Director, Finance, Starwood Capital Group Global, LLC
- Douglas Klaassen, Partner, Stikeman Elliott LLP
- Patricia Koval, Partner, Torys LLP
- Douglas MacLatchy, President & Chief Executive Officer, MacLatchy Ventures, Inc. (former President & Chief Executive Officer Sunrise Senior Living REIT)
- Sandy McIntyre, Senior Vice President & Senior Portfolio Manager, Sentry Select Capital Corporation
- Gail Mifsud, Real Estate & Lodging Analyst, Blackmont Capital
- Rossa O’Reilly, Real Estate Analyst, CIBC World Markets Inc.
- Reiner Plessl, Director, RBC Capital Markets Real Estate Group
- Don Ross, Vice President, MCAP Financial Corporation
- Mark Rothschild, Principal, Real Estate Analyst, Genuity Capital Markets
- Michael Smith, Senior Vice President, Real Estate and Hospitality Analyst, Equity Research, National Bank Financial
- Tim Westlake, Senior Vice President, Dominion Bond Rating Service
N.B. Sessions and speakers are subject to change without notice.
- Sheila S. Botting, Senior Managing Director - Canada, Capital Markets Group, Cushman & Wakefield LePage Inc.
- Colin H. Loudon, Partner & National Industry Leader, Real Estate, KPMG LLP
- Stephen L. Sender, Managing Director, Industry Head, Scotia Capital Inc.
- Jamie Ziegel, Senior Managing Director & National Practice Director, Investment Sales, Capital Markets Group, Cushman & Wakefield LePage Inc.
The commercial real estate market is currently experiencing profound effects from the socalled “credit crunch.” Initially set in motion by the collapse of the subprime mortgage markets in the U.S., it is now having a much broader impact on the increasingly securitized global commercial real estate sector in the form of tightened credit and extreme illiquidity – a dramatic reversal of trends prevailing until just a few months ago. Asset values have declined substantially, cap rates have risen for many property types, credit spreads have increased, leverage has declined, and transactions have slowed to a trickle. The situation is still evolving and likely to get worse before it stabilizes; and great uncertainty prevails.
Some observers see these changes as a healthy correction to an overheated market. It seems likely that they will continue to have profound effects on the competitive advantage of various types of investors, favouring those with cash and handicapping leveraged buyers. It will certainly create excellent opportunities for some market participants. It remains to be seen how lenders will re-price risk, and how this will affect transactions and property development.
This stimulating, full-day executive seminar will focus on how these factors will likely play out in the near and medium terms, and how real estate professionals may best manage this so-called crisis. It will engage many of real estate’s and the capital markets’ foremost leaders in informative, candid and interactive discussions. The panel sessions will have a practical focus, analyzing current trends, forecasting future changes, and examining strategies executives can immediately implement to capitalize on opportunities the credit and liquidity crunch presents. Speakers will address these issues from the perspectives of privately-held and publicly-traded equity and debt capital. There will be many informal networking opportunities to build business relationships with senior executives in corporate and investment real estate.
To ensure the high quality of this unique and interactive seminar, registration will be limited to 100 people. Our seminars usually sell out quickly, so register early to avoid disappointment. A reduced fee will apply to registrations received by January 11, 2008.
MAJOR THEMES OF THIS SEMINAR
- How will tightened credit and illiquidity impact the commercial real estate sector?
- What’s ahead on both the debt capital and equity capital fronts, for both privately held and publicly-traded capital?
- What opportunities will this create for various classes of investors?
- What will be the impact on cap rates and real estate values?
- How is risk being re-priced in the debt and equity capital markets?
- Which property classes will be most affected, and how?
- What will be the impact on private equity buyout opportunities?
- What kinds of transactions will offer the best promise of returns in 2008?
- What are the best strategies for different market participants?
- When will the credit and liquidity markets return to normal, if ever? What is “normal”?
WHO SHOULD ATTEND?
- Professionals engaged in office, multi-unit residential, retail, industrial,
and hotel properties
- Providers of privately-held and publicly-traded equity and/or debt
- Institutional lenders such as banks, life insurance companies and
- Investment bankers, fund managers, and finance professionals engaged
in real estate
- Executives of pension funds, private equity firms, REITs, institutional
investors and opportunity funds
- Commercial real estate and financing brokers and advisors
- Lawyers, accountants and other consultants advising the real estate
- End-users/tenants of corporate real estate
- Public and private sector property and facility managers
- Developers, planners, land and construction professionals
- Professionals engaged in real estate acquisitions, dispositions, asset
management, leasing and marketing
- To ensure the high quality of this unique seminar, attendance will be limited to the first 100 paid registrants.
- $525.00 plus 5% GST = $551.25
(GST No. R107868 705)
- Fee includes tuition, seminar materials, continental breakfast, refreshment breaks, lunch and closing reception (sponsored by Stikeman Elliott).
EARLY REGISTRATION DISCOUNT
- Register and pay on or before January 11, 2008, and enjoy a reduced fee of $465.00 plus GST = $488.25
- Written cancellation of registration on or before January 11, 2008 will be subject to a $150.00 cancellation fee. No fees will be refunded after this date.
Ontario Bar Association Conference Centre
20 Toronto Street, 2nd Floor
(Two blocks east of Yonge Street, between Adelaide Street East and King Street East.)