The commercial real estate sector in general continues to outperform virtually every other asset class, and flows of both equity and debt capital are reflecting this. Capital appreciation has exceeded cash flow yields, continuing a nearly two-decade long “bullish” run, helped along by low interest rates, a strong Canadian purchasing power, managed supply of new product, strong employment, increased housing demand and healthy financial institutions. Yet there are some concerning signals, including retailers reeling from the exodus of several major chains and significant e-commerce market share growth. Cities such as Toronto and Calgary are seeing record levels of office development, with the looming risk of oversupply and falling rents. Canada’s loss of manufacturing is a growing challenge for industrial real estate. Despite the continuation of the two-decade long condo boom, rental apartments are making a resurgence and attracting institutional investors. The lending side has seen the withdrawal from Canada of a few major foreign institutions. In the capital markets it remains to be seen whether some of the larger Canadian REITs/REOCs will be taken private by private equity firms or pension funds; or whether large public entities will continue to grow by acquiring the smaller firms and expanding outside of Canada. Will we see a perpetuation of the pattern in recent years of increased Canadian capital being invested in foreign commercial real estate, as domestic investors ride the tide of recovering values in other jurisdictions.
This stimulating, full-day conference will engage many of the industry's foremost leaders in an informative, candid and interactive forum. It will investigate the causes and effects of these significant trends in Canadian real estate capital markets - both current and emerging. Four insightful panel discussions will focus on private equity, public equity, international lenders, and public and private debt. 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 and manage risks presented by emerging market conditions. The event will also provide many informal networking opportunities to build business relationships with senior executives across a broad spectrum within the commercial real estate and capital markets sectors.
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 May 22, 2015.
Citigroup Global Markets Inc.
PRIVATE EQUITY PANEL
Zelick Altman (Moderator)
Managing Director, Canada
LaSalle Investment Management
Jason L.S. Birnboim
Beaux Properties International Inc.
Vice President, Investments
Balboa Investments Inc.
Chief Executive Officer
Agellan Commercial REIT
Executive Vice President & Partner
Crestpoint Real Estate Investments Ltd.
PUBLIC EQUITY PANEL
Onorio Lucchese (Moderator)
Managing Director, Investment & Corporate Banking, Real Estate
BMO Capital Markets
Chairman & Trustee
Vice President, Investments
Pure Industrial REIT
Brookfield Asset Management
INTERNATIONAL LENDERS PANEL
Amar Nijjar (Moderator)
Senior Vice President, Debt Capital Markets
Jones Lang LaSalle
Vice President, Commercial Mortgage
Cornerstone Real Estate Advisers LLC
Principal, Real Estate Debt Strategies
The Blackstone Group
Managing Director, Northwest & Canada, Real Estate Investment
Head of Real Estate Lending, North America & Managing Director
DEBT (PUBLIC & PRIVATE) PANEL
Tzen-Yi Goh (Moderator)
Partner, Real Property & Planning
Senior Vice President, Real Estate Banking, Commercial Banking
David M. Dulberg
RBC Capital Markets Real Estate Group
Managing Director & Head of Real Estate Corporate Banking
Senior Vice President
Wells Fargo Bank N.A.
N.B. While it is highly unlikely, sessions, speakers and moderators
are subject to change without notice.