The commercial real estate sector in general has over several years outperformed 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, managed supply of new product, strong employment, increased housing demand and healthy financial institutions. Yet the public markets now seem to be levelling off, due in part to lower demand for natural resources and a weak Canadian dollar. The considerable maturity and institutionalization of the Canadian property markets are causing many investors to look abroad to the US, Europe, Asia and Latin America. There is uncertainty about the impact of future policies of the new federal government, especially concerning income tax and lending rates.
Retailers are coping with high consumer debt levels, currency exchange rates making goods more costly, and online shopping growth. The office sector is experiencing record levels of new construction in cities such as Toronto, Montreal and Vancouver. There is looming oversupply and falling rents in several markets. Canada's loss of manufacturing is a growing challenge for industrial real estate, while rapid technology advances are revitalizing this sector. Despite the continuation of the condo boom, rental apartments are making a resurgence and attracting institutional investors. Will population growth, immigration and aging create enough demand for this growing supply, especially at the upper end of the rent scale?
While the markets should remain stable through 2016, growth is doubtful. Will this present an opportunity for private equity firms to acquire large REITs and REOCs? Will large public entities continue to grow by acquiring smaller firms and expanding outside of Canada? Will Canadian capital continue be invested in recovering foreign real estate? On the debt side, what opportunities and challenges does the withdrawal from Canada of several major foreign institutional lenders present? When will interest rates begin to rise, and what impact will this have?
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 REITs, REOCs and IPOs; foreign equity investment into Canada; conventional lending; and crowdfunding / alternative lending. 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 January 8, 2016.
Senior Managing Director & Portfolio Manager, Canadian Property Investments
Sun Life Investment Management Inc.
Managing Director & Principal Officer
Raymond James Bank
lessons learned in global real estate investing
Global Head of Real Estate Investments
Canada Pension Plan Investment Board
REITs, REOCs and IPOs: In Recovery or relapse?
Demetri Andros (Moderator)
Managing Director, Valuation & Advisory Services, GTA
Vice President, Financial Advisory Services - Real Estate
Ernst & Young Orenda Corp. Finance
Chief Executive Officer
Slate Retail REIT
Chief Financial Officer
foreign equity capital flow: inflow to canada or flight?
Craig Smith (Moderator)
President & Broker of Record
Ashlar Urban Realty Inc.
Vice President, Investments, Canada
Executive Vice President
Jones Lang LaSalle
Anbang Asset Management (Hong Kong) Co. Ltd.
conventional Lenders; trying to sustain unconventional market strength into 2016
Tamara Lawson (Moderator)
Chief Financial Officer
Starlight Investments Ltd.
Vice President &Regional Manager, Real Estate
Managing Director, Head of U.S. Real Estate Corporate Banking
Royal Bank of Canada
The Blackstone Group
Director, Real Estate Corporate Banking
CIBC World Markets
crowdfunding comes to Canada: using technology to facilitate capital flows
Chad Gemmell (Moderator)
Real Crowd Capital Inc.
Vice President, Debt Capital Markets
Founder & Executive Director
National Crowdfunding Association of Canada
M+H Properties Group
Waverley Corporate Financial Services Ltd.
Dentons Canada LLP
N.B. While it is highly unlikely, sessions, speakers and moderators
are subject to change without notice.