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Transcript of CANADIAN INSTITUTE OF PUBLIC REAL ESTATE …c.ymcdn.com/sites/ · GREETINGS FROM THE GOVERNOR. ......
2011 REALpac Chief Executives Retreat WELCOME TO CHICAGO!
S
2011 Keynote Speaker
Scotty Bowman Winningest Coach in NHL History
2011 REALpac Chief Executives Retreat REALpac STAFF
S. Michael Brooks - Chief Executive Officer -
REALpac
- PhD, University of Waterloo, School of
Planning
- Master of Business Administration (MBA),
Real Property Development, York University
- Master of Laws (LLM), Osgoode Hall Law
School
- Bachelor of Law (LLB), University of Western Ontario
- Honours Bachelor of Environmental Studies (Hons. BES), Urban &
Regional Planning, University of Waterloo
- ICD.D (Institute of Corporate Directors)
Michael is the Chief Executive Officer of the Real Property
Association of Canada (“REALpac”). His role encompasses
strategic planning, policy formulation, government relations,
member recruitment and retention, and overseeing office
operations. One of Michael’s key roles is being proactive with the
real estate community in Canada and internationally, and ensuring
REALpac is seen as a thought leader on policy and government
relations issues locally, nationally and internationally. Michael has
consistently grown REALpac’s reputation and reach over the past
12 years.
Michael is an Adjunct Professor at the Ted Rogers School of
Management, Ryerson University, Toronto, where he teaches real
estate finance, development, corporate social responsibility and
sustainability. He is a member of the Canadian Bar Association,
American Bar Association, Law Society of Upper Canada,
International Council of Shopping Centres, and the Urban Land
Institute. Michael is the Canadian delegate (with Oxford Properties
Group Inc.) to the newly formed international commercial real
estate sector study of the Global Reporting Initiative (“GRI”) and is
the representative for REALpac with the UNEP SBCI (United Nations
Environment Programme, Sustainable Buildings & Climate
Initiative). Michael is also a Fellow of the Royal Institute of
Chartered Surveyors, and has practiced real estate law in Canada
for over 25 years. He is a former Board Member and Treasurer of
the Canada Green Building Council and is a LEED AP.
416-642-2700 x225 [email protected]
Nancy Anderson – Vice President, Financial
Reporting - REALpac
- Chartered Accountant (CA)
- Diploma in Accounting, Wilfrid Laurier
University
- Master of Arts - Political Science (MA),
University of Windsor
- Honours Bachelor of Arts (Political Science)
– University of Western Ontario
Nancy joined REALpac in September 2010, and plays a key role in
leading the on-going development of financial accounting and
reporting best practices for the real estate investment and
development industry, as well as being responsible for the financial
reporting and fiscal management of REALpac. Her role
encompasses monitoring proposed and new accounting
standards for International Financial Reporting Standards (IFRS),
Accounting Standards for Private Enterprises (ASPE) and US GAAP,
and analyzing the impact to financial accounting and reporting
for real estate and related entities. Nancy is also responsible for
writing amendments to REALpac’s IFRS Handbook, and providing
support in designing and delivering related accounting training
programs and events. She participates as an active member of
the Real Estate Equity Securitization Analysis (REESA), a global
coalition of real estate associations, providing Canadian input and
representation in joint advocacy efforts with the International
Accounting Standards Board (IASB) and Financial Accounting
Standards Board (FASB), and chairs the Financial Best Practices
Committee of REALpac.
Prior to joining REALpac, Nancy was an Audit Manager at
PricewaterhouseCoopers, a Senior Manager in IFRS Financial
Reporting & Special Projects at a large retail company, and most
recently was an Associate Director and Member Advisor with the
Institute of Chartered Accountants of Ontario. Her career has
varied through auditing, accounting, and educational/advisory
roles, with a recent focus on emerging issues in IFRS and ASPE. As a
chartered accountant, she is a member of both the Canadian
Institute of Chartered Accountants and the Institute of Chartered
Accountants of Ontario.
416-642-2700 x226 [email protected]
Robert S. Campanelli, M.U.P. – Vice President,
Professional Development & Industry
Sustainability - REALpac
- Master of Urban Planning (MUP), McGill
University
- Bachelor of Arts (BA), Urban Studies,
Concordia University
- Certificate in Corporate Social
Responsibility, University of St. Michael’s College, University of
Toronto
Rob joined REALpac in November 2004, and brings over 17 years of
experience working within the industry association management
sector, at both the national and international levels. Rob is co-
Chair of REALpac’s Corporate Responsibility & Sustainability (CR&S)
Committee and drives many of the Association’s CR&S related
activities. Rob also plays a key role in managing the REALpac
Professional Development Institute (RPDI), which houses all of the
Association’s training programs, and he directs the planning and
management of a number of member-only professional
development and networking events throughout the year.
Prior to joining REALpac, Rob was with the Canadian Association of
Management Consultants (CAMC) where he held a number of
positions including Manager, Professional Development & External
Relations as well as Manager, Chapter Relations. From 1993 to 2000
Robert worked with the International Air Transport Association
(IATA), where he held the positions of Program Manager with the
IATA Training and Development Institute (ITDI) as well as Manager
of the Airport and Obstacle Database (AODB).
416-642-2700 x222 [email protected]
Carolyn Lane - MBA, MA, Vice President,
Membership & Communications, REALpac
- Master of Business Administration (MBA with
Distinction), University of Leicester, UK
- Master of Arts (MA), Urban & Economic
Geography, University of Toronto
- Certificate in Town and Country Planning,
Oxford Brookes University, UK
- Honours Bachelor of Environmental Studies (Hons. BES), Urban &
Regional Planning, University of Waterloo
Carolyn joined REALpac in June 2000, with significant experience
as a management and land use planning/development
consultant.
2011 REALpac Chief Executives Retreat REALpac STAFF
Carolyn has consistently grown the depth and breadth of
REALpac’s survey and communications by managing projects such
as the Annual Property Assessment & Tax Report, the Annual
Canadian Real Estate Compensation Survey, the REALpac/FPL
Canadian Real Estate Sentiment Survey, among others. Carolyn
maintains consistent high quality member and public
communications, produces monthly Member Bulletins and Annual
Reports, edits and publishes REALpac Handbooks and standards,
prepares News Releases and liaises with the media, ensures
consistent REALpac branding, and oversees operations and
systems. Carolyn Chairs the Compensation Survey Committee, Co-
Chairs the Human Resources Committee, Co-Chairs the Insurance
& Risk Management Committee, and sits on the Green Lease and
Corporate Responsibility & Sustainability Committees.
Within the area of Membership, Carolyn has recently taken on the
responsibilities of member recruitment, retention and engagement.
Prior to joining REALpac, Carolyn was a Senior Associate and Senior
Planner at Dillon Consulting Limited and was a Manager in Arthur
Andersen’s Real Estate Advisory Services Group. Her career
focused on the provision of consulting services including corporate
real estate, site location/relocation, project management of multi-
disciplinary land use and environment projects (nationally and
internationally), public consultation, and real property disposition
initiatives for public and private sector clients.
Carolyn holds the Certified Association Executive (CAE)
designation from the Canadian Society of Association Executives, is
a full Member of the Canadian Institute of Planners (MCIP), and is a
Registered Professional Planner (RPP) in the Province of Ontario.
416-642-2700 x223 [email protected]
Ryan Eickmeier, M.P.P. - Manager, Government
Relations & Policy, REALpac
- Master of Public Policy (M.P.P.), The
American University, School of Public Affairs
- Certificate in Political Campaign
Management (Campaign Management
Institute), The American University School of
Public Affairs
- Honours Bachelor of Political Science (B.A, Magna Cum
Laude), Pre-Law, Politics, and International Relations, New
England College
Ryan joined REALpac in March 2010 bringing with him a wealth of
experience in the field of government relations, political advocacy,
and public policy. Ryan is responsible for advancing REALpac
advocacy positions through multiple levels of government via a
transparent, open approach in line with REALpac's mission and
vision. Ryan monitors the daily progress in relevant government
legislation, produces monthly and as needed government relations
updates, government submissions, in depth policy research papers
and commentaries, and maintains close relationships with
important government and stakeholder contacts.
Prior to joining REALpac, Ryan was an Associate at the political
consulting firm Greener and Hook, LLC where he worked on both
the political and corporate side of the company. Ryan worked
extensively with political candidates at all levels on messaging,
strategy, research, and social media communications. On the
corporate front, Ryan worked with trade associations, corporations,
and various companies to develop complete government relations
advocacy plans as well as ad hoc risk management projects to
mitigate the impacts of forthcoming public policy issues. Before
Greener and Hook, Ryan was a research assistant at The Center for
Terrorism and Intelligence Studies (CETIS) where his deliverables
helped formulate the Global Terrorism Database (GTD), now the
largest open source intelligence database in the world. Ryan also
worked as a policy analyst at the grassroots advocacy firm The
New Hampshire Advantage Coalition where he produced
advocacy literature and political mailers. In the fall of 2007, Ryan
accepted a key staff position within United States Senator Fred
Thompson's Presidential Campaign. As an advance and field
representative for the State of New Hampshire, Ryan was
responsible for the planning and execution of campaign events,
grassroots advocacy efforts, and ensuring maximum visibility for the
candidate at all times. Ryan is a full member of the Public Affairs
Association of Canada (PAAC), the Government Relations Institute
of Canada (GRIC), and the Commercial Real Estate Development
Association (NAIOP).
416-642-2700 x224 [email protected]
Julia St. Michael, MBA, LEED AP - Manager,
Research & Marketing, REALpac
- Master of Business Administration (MBA,
Retail and Commercial Development
Specialization), Ryerson University
- Graduate Diploma in Applied
Biotechnology, The Michener Institute for
Applied Health Sciences, Toronto
- Honours Bachelor of Science (Hons. BSc.), Biology and
Evolution, University of Toronto
Julia joined the Association in August 2009 as a Research Associate
and transferred into the role of Manager, Research & Marketing in
March of 2010. Since joining REALpac, Julia has been responsible
for the content development, research, and preparation of
numerous projects and publications. Her work has included the
compilation of the "Canadian Institutional Commercial Debt
Market Report", the revamping of the "Guide to Corporate
Responsibility and Sustainability Reporting", and the "REALpac
Green Lease Guide for Commercial Office Tenants". In addition,
Julia spearheaded the development of the REALpac Energy
Normalization Methodology and managed the development of
the REALpac Energy Benchmarking Program including the roll-out
and administration of the 2010 Energy Benchmarking Survey and
the publication of the 2010 Energy Benchmarking Report. Julia also
develops and implements the association's marketing initiatives.
Prior to joining REALpac, Julia worked in the field of human genetic
disease and infectious disease genotyping at the Canadian-based
Tm Bioscience Corporation as well as with the US-based Luminex
Corporation.
Julia is a LEED® Accredited Professional (AP).
416-642-2700 x237 [email protected]
Deborah Prestwich - Manager, Office Services,
REALpac
Deborah joined REALpac in May 2006 and is
responsible for organizing and coordinating
office operations and procedures to ensure the
organizational effectiveness and efficiency of
the Association. She coordinates REALpac’s
Board of Directors meetings; the Annual
General Meeting; the preparation of ancillary Board
resolutions/materials, as required; and maintains the corporate
records. In addition, Deborah coordinates special events such as
dinners, seminars and training classes. Deborah also provides
Executive Assistant support to the Chief Executive Officer and
REALpac staff.
2011 REALpac Chief Executives Retreat GUEST SPEAKERS, MODERATORS & PANELISTS
Deborah started her career in the law firm of Goodman and Carr
in the Corporate/Commercial law section where she worked for 17
years. When one of the firm’s senior partners, for whom she
worked, was asked to join Cineplex Odeon Corporation in 1986,
Deborah accepted his offer to join him at Cineplex. During the
ensuing 16 years she was the Executive Assistant to the President
and CEO. As well, she established and supervised the corporation’s
charitable donations department. In addition to her duties, during
her last two years at Cineplex, she was appointed Corporate
Secretary of the corporation.
416-642-2700 x.221 [email protected]
George W. Ahl, III - Principal, M3 Capital Partners
LLC Session 1 - Moderator
Mr. Ahl is a founding Principal of M3 Capital
Partners (M3) and has overall responsibility for
the firm’s institutional capital relationships in
North America. M3 Capital Partners is a global
real estate private equity investment and
advisory firm headquartered in Chicago, with
offices in New York, London, and Hong Kong.
Included in his role are the building and oversight of all strategic
capital relationships in the United State and Canada, originating
advisory transactions in the region, and facilitating cross-border
investments involving North American capital into Asia, Europe,
and Latin America.
Prior to M3 Capital Partners, Mr. Ahl was a senior vice president with
Security Capital Markets Group, the predecessor entity to M3.
Before joining Security Capital, Mr. Ahl was a managing director of
Crimson Capital in Warsaw, Poland and Prague, in the Czech
Republic. In that capacity, he advised the Ministry of Privatization
of both countries on the valuation and transfer of ownership of
former state-owned companies as part of the region’s transition
from centrally planned to market economies.
Earlier in his career, Mr Ahl was with LaSalle Partners and at Merrill
Lynch Corporate Finance as part of their investment banking
group.
Mr. Ahl received a B.A. from Williams College. He holds a Series 63
License and a Series 24 General Securities Principal License with M3
Capital Partners. Mr. Ahl is a member of several leading real estate
industry organizations, including the Urban Land Institute, National
Association of Real Estate Investment Managers, Pension Real
Estate Association, Association of Foreign Investors in Real Estate,
and the Real Property Association of Canada.
David Arthur - Managing Partner, Real Estate
Investments (North America), Brookfield Asset
Management Session 2 - Panelist
David Arthur is Managing Partner, Real Estate
Investments, North America for Brookfield Asset
Management. Mr. Arthur is also the President
and CEO of the Brookfield Real Estate
Opportunity Fund, a real estate opportunity fund
investing in high yield office, industrial and
residential real estate opportunities in major markets in the United
States and Canada. Currently, the Funds own over 19 million
square feet of properties. Brookfield Asset Management (NYSE, TSE
– “BAM”) is the principal investor and sponsor. David is also a
director of The Howard Hughes Corporation.
Prior to joining the Fund, David was President and CEO of Brookfield
Properties Ltd. Responsibilities included Brookfield’s business in
Canada as well as in Denver, Minneapolis and southern California.
David was founding Chairman of Brookfield LePage Johnson
Controls, a major Canadian facilities management company.
In addition, David’s previous experience includes Cadillac Fairview,
Cambridge Leaseholds and Coscan. David received his Honours
degree in Urban and Regional Planning from the University of
Waterloo and his Master of Science in Urban Land Economics from
the University of British Columbia. He is a member of the World
President’s Organization, REALpac, ULI and NAIOP, and ICSC.
Scotty Bowman... ‘The Winningest Coach in NHL
History’ Keynote Speaker
Long before he would emerge as the
winningest coach in NHL history, Scotty
Bowman was first named head coach of the
Canadiens in 1971-72. It was behind the Habs'
bench where Bowman would learn what it
takes to build a champion.
After being hired away from the Canadiens farm team by the St.
Louis Blues in the late 1960s, Bowman was returned to the family by
legendary Habs GM Sam Pollock, who entrusted him with a team
that would reach unprecedented heights.
A brilliant tactician, Bowman outwitted opposing coaches on a
nightly basis, keeping them guessing with his every move. After
guiding the Canadiens to the Stanley Cup in the spring of 1973,
Bowman established a Canadiens dynasty that remains one of the
greatest in league history.
On his way to leading the Habs to four straight Stanley Cups from
1976 through 1979, Bowman oversaw the greatest team ever
assembled-the 1976-77 Canadiens. No team in the NHL could
touch the Canadiens as they rolled to an incredible mark of 60-8-
12 while piling up 132 points, a league record that still stands today.
Bowman's attention to detail and relentless coaching style kept his
players grounded and focused on what mattered most - winning
the Stanley Cup. Hardly a players' coach, he still had the knack of
getting the best from everyone on his teams, from superstars to role
players, whether they liked it or not.
After guiding the Habs to five Stanley Cups over his eight years
behind the Montreal bench, Bowman would go on to raise the
Cup four more times as head coach of the Penguins and Red
Wings. The most decorated coach in the history of the game with
nine championships, Bowman took his rightful place in the Hockey
Hall of Fame in 1991.
Scotty Bowman was named Blackhawks senior advisor, hockey
operations on July 31, 2008.
2011 REALpac Chief Executives Retreat GUEST SPEAKERS, MODERATORS & PANELISTS
Simon Fairchild - Managing Director, IPD North
America, IPD Presenter – Day 2
Simon Fairchild is Managing Director of IPD North
America and is responsible for the overall
management, development and strategic
direction of the US and Canadian companies.
Simon previously headed up the Global Client
Management team at IPD and has also
previously been responsible for: the UK Portfolio Analysis Service
which measures the performance of £150bn of property
investments; technical development of IPD’s measurement,
benchmarking and risk analysis services; and the development of
IPD's services in South Africa and Ireland. Simon is a director of IPD
and joined in 1988 from a background in asset management with
a major UK bank. He has a degree in Economics from Leicester
University, a masters degree in Economics & Finance from the
Warwick University Business School and is a member of the
Investment Property Forum.
Robert Forest - Partner, Adrian Smith + Gordon Gill Architecture Presenter - Day 3
Robert Forest has extensive knowledge and
experience with the execution of projects on
an international scale. Bob’s expertise in both
project management and technical
architecture contribute to his comprehensive
understanding of both the built environment
and the practice of architecture.
A recognized authority on the economics of sustainable design,
Bob has combined his knowledge of local and international
policies, funding sources and varied economic models to develop
a system of ‘best practices’ for the management of high-
performance projects. He has lectured and published his work on a
national scale.
Bob is dedicated to the advancement of the management
discipline within an architectural context. After over a decade
spent practicing abroad Bob has developed a unique
understanding of architectural practices across the globe and has
utilized this knowledge in the management of numerous large-
scale, complex projects. He works diligently alongside design
teams from all disciplines throughout each project, ensuring that
designs are executed with a careful understanding of each client’s
goals and vision.
Prior to founding Adrian Smith + Gordon Gill Architecture LLP in
2006, Bob was an Associate Partner in the Chicago office of
Skidmore, Owings & Merrill LLP, and had previously worked at
design firms in Toronto, Hong Kong and Osaka, Japan.
Prior to beginning his architectural career, Bob played professional
football for Canadian teams the Ottawa Rough Riders and
Montreal Machine. He utilizes the leadership skills and
understanding of team dynamics gained from this experience
today in a professional capacity.
Most recently, Bob joined Adrian Smith, Gordon Gill and Roger
Frechette as a founding principal of PositivEnergy Practice
(www.pepractice.com), an energy, engineering and consulting
firm that designs and implements energy, resource management
and carbon reduction strategies for public and private clients
around the world.
Daniel Fournier, Chairman and Chief Executive
Officer, Ivanhoé Cambridge, and Executive
Vice-President, Real Estate, Caisse de dépôt et
placement du Québec
Session 1 - Panelist
Daniel Fournier is Executive Vice-President, Real
Estate of the Caisse, and Chairman of the
Board and Chief Executive Officer of Ivanhoé
Cambridge. In this capacity, he oversees the
institution's real estate investments, including strategy development
and portfolio management and growth. He also coordinates the
operations of the Real Estate group's main companies and their
network of partners, subsidiaries and affiliates. In addition, Mr.
Fournier serves as the Chairman of the Board of Otéra Capital and
sits on the Caisse's Executive Committee.
Mr. Fournier has more than 30 years of experience in the business
community and a solid background in the real estate industry.
Prior to joining the Caisse, he was Chairman of the Board of the
GENIVAR Income Fund and a director of Canadian Tire. He has
also been a director of Summit REIT, a trustee of Standard Life – an
insurance corporation active in the real estate sector, and Vice-
Chairman of the Board of real estate broker CB Richard Ellis
Canada. He previously served as a member of the Caisse's real
estate team, acting as Executive Vice-President and Chief
Investment Officer at subsidiary SITQ from 2008 to 2009.
Mr. Fournier holds a Bachelor of History from Princeton University in
the U.S. and a Bachelor of Arts in Jurisprudence from Oxford
University in the U.K., where he was the recipient of a Rhodes
Scholarship.
Mr. Fournier is very involved in the community. He is a past
President and Founder of NF Canada, an organization dedicated
to helping people living with neurofibromatosis, and a past
Chairman of the Board of the McCord Museum. Over the years, he
has served as a director of Fondation Jean Lapointe, Sainte-Justine
Hospital Foundation, YWCA and YMCA Foundations and Château
Ramezay Museum Foundation.
Blake Hutcheson - President and CEO, Oxford Properties Group Session 1 - Panelist
Blake Hutcheson is responsible for Oxford’s
overall business including its long term strategy
and objectives, and leading the executive
management team in the execution of the
global business plan. He will also lead Oxford’s
capital under management strategy and
relationship-building efforts with key partners around the world, and
actively participate in OMERS capital raising initiatives.
Mr. Hutcheson was most recently Head of Global Real Estate with
Mount Kellett Capital Management, a New York-based private
equity firm with offices in key locations around the globe. Prior to
that, he spent 14 years with CB Richard Ellis in Toronto, most
recently as President of the Canadian, Latin American and
Mexican operations.
He holds a Bachelor of Arts in Political Science from the University of
Western Ontario, a Graduate Diploma in International Relations
and Comparative Politics from the London School of Economics
and a Masters in Real Estate Development from Columbia
University.
(biographies continued on page 10)
2011 REALpac Chief Executives Retreat RETREAT AT A GLANCE - PROGRAM & SCHEDULE
DAY ONE SUNDAY, OCTOBER 16, 2011
15:00
CHECK-IN The Peninsula – Chicago
108 East Superior Street (at North Michigan Avenue)
N.B. Take elevators up to lobby level
18:00–
20:00
WELCOME RECEPTION Shanghai Terrace (4th fl)
Spouses/Companions Welcome
DAY TWO MONDAY, OCTOBER 17, 2011
07:45–
09:00
BREAKFAST Grand Ballroom 1 (4th fl)
Spouses/Companions Welcome
09:00–
09:05
OPENING REMARKS Michael Brooks, CEO,
REALpac Grand Ballroom 2 (4th fl)
09:05–
09:30
PRESENTATION “Global Market Outlook”
Grand Ballroom 2 (4th fl)
PRESENTER: Simon Fairchild, Managing Director, IPD
North America, IPD
09:30–
10:30
PANEL SESSION 1 “Real Estate Equity And Its
Allocation” Grand Ballroom 2 (4th fl)
What capital will be attracted to real estate, by
whom, and for what reasons/expected returns?
What capital is leaving real estate? Why?
What vehicle types do they prefer and why?
What is the cost of capital?
What trends are evident? What will be the
impact of those decisions on the way we do
business? Who will be best positioned to take
advantage of this?
MODERATOR: George W. Ahl III, Principal, M3 Capital
Partners LLC (New York)
PANELISTS: Blake Hutcheson, CEO, Oxford Properties
Group; Daniel Fournier, Chairman and Chief Executive
Officer, Ivanhoé Cambridge, and Executive Vice-President,
Real Estate, Caisse de dépôt et placement du Québec;
Vivek (Vick) Seth, Managing Director - Head of Real
Estate Investment Banking, Raymond James (St.
Petersburg, FL)
10:30–
10:45 REFRESHMENT BREAK
10:45–
11:45
PANEL SESSION 2 “Market Opportunities”
Grand Ballroom 2 (4th fl)
What land use types, in what markets, could
have the best upside and why? A top 3 picks by
North American and International “insiders”.
What will be the key positive drivers of these
opportunities? Key drags? Key risks?
What will be the impacts of debt worries on
capital and the asset classes?
How do we position ourselves to take
advantage of the positive drivers/opportunities
and limit risk?
MODERATOR: Stephen Sender, Managing Director,
Industry Head - Real Estate, Scotia Capital Inc.
PANELISTS: David D. Arthur, Managing Partner, North
America Real Estate Investments, Brookfield Asset
Management; R. Scot Sellers, CEO, Archstone; Peter
Senst, EVP & Director, CBRE (Toronto)
12:00–
14:00
LUNCHEON & KEYNOTE ADDRESS
Grand Ballroom 1 (4th fl)
Spouses/Companions Welcome
KEYNOTE SPEAKER: Scotty Bowman... The NHL’s
Winningest Coach
14:00–
19:00 FREE TIME Connect with the office, shop or see the sights!
19:00
COCKTAIL RECEPTION & DINNER
Japonais Restaurant
600 West Chicago Avenue p: 312-822-9600
Spouses/Companions Welcome
DAY THREE TUESDAY, OCTOBER 18, 2011
07:45–
09:00
BREAKFAST Grand Ballroom 1 (4th fl)
Spouses/Companions Welcome
09:05–
09:35
PRESENTATION “The Bleeding Edge: A Quick
Look At Some Of The World’s Leading Buildings”
Grand Ballroom 2 (4th fl)
PRESENTER: Robert Forest, Partner, Adrian Smith +
Gordon Gill Architecture
09:35–
09:50
THE MONDAY MORNING ROUND-UP
Michael Brooks, CEO, REALpac
09:50–
10:55
PANEL SESSION 3 “Debt” Grand Ballroom 2
(4th fl)
What will be the end game of the US
Government debt crisis, and the “pretend and
extend” in the US?
What will be the impact of the CMBS market re-
emergence? Same old or different this time?
Cap rates – Risk – Inflation: the holy triumvirate.
What will be the future?
What will be the impacts on availability and cost
of debt capital? How to minimize risks and take
advantage of this situation?
MODERATOR: Mark Rose, Chairman & CEO, Avison
Young
PANELISTS: William (Bill) Jandrisits, President & CEO,
MCAN Mortgage Corporation; Ryan Krauch,
Principal, Mesa West Capital; Ethan Penner,
President, CBRE Capital Partners
10:55–
11:00 CLOSING REMARKS Michael Brooks, CEO,
REALpac
11:00 RETREAT ENDS Check-out time is 12:00pm
Have a Safe Journey!
2011 REALpac Chief Executives Retreat AREA MAP
COCKTAIL RECEPTION & DINNER Monday, October 17th, 7:00PM
JAPONAIS RESTAURANT
600 West Chicago Avenue (at North Larrabee Street)
T: 312-822-9600 Spouses/Companions Welcome
RETREAT HOTEL
THE PENINSULA
108 East Superior Street (at North Michigan Avenue)
N.B. Take elevators up to lobby level
W est Chicago Avenue
No
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Mic
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an
Av
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2011 REALpac Chief Executives Retreat GUEST SPEAKERS, MODERATORS & PANELISTS
William J. (Bill) Jandrisits - President & CEO,
MCAN Mortgage Corporation Session 2 - Panelist
William Jandrisits is President and CEO of MCAN
Mortgage Corporation. MCAN is a publicly
traded mortgage investment company, listed
on the Toronto Stock Exchange (TSX) under the
symbol MKP and is a reporting issuer in all
provinces and territories in Canada.
MCAN invests its funds in a portfolio of mortgages including single-
family residential, residential construction, non-residential
construction and commercial mortgages, as well as other types of
loans and investments, real estate, securitization investments and
marketable securities in the form of corporate bonds and real
estate investment, income and royalty trusts. MCAN funds its
operations with term deposits eligible for deposit insurance from
the Canada Deposit Insurance Corporation.
Previously Mr Jandrisits was Director of Finance at Starwood Capital
Group. In this position, Mr. Jandrisits oversaw the financing of all
acquisitions by Starwood Capital and the refinancing of portfolio
assets. Starwood Capital Group Global, LLC is a privately held
investment management firm that specializes in real estate related
investments on behalf of select private and institutional investment
partners. Starwood Capital is one of the nation's most active and
successful real estate investment firms, having acquired a highly
diversified portfolio totalling more than $14.0 billion in real estate
assets. During the past fifteen years, Starwood Capital has closed
and/or advised on over 380 transactions ranging in size up to $14.6
billion and has acquired equity interests in residential lots, multi-
family and condominium units, hotels, office, retail and industrial
space, golf and leisure-related properties.
Prior to joining Starwood, Mr. Jandrisits served as a Managing
Director, North American Real Estate for RBC Financial Group. He
most recently was responsible for various aspects of RBC's real
estate lending activities in the U.S., including loan production,
structuring of complex transactions, monitoring business
performance and oversight of several operating units of RBC's
North American lending operations. Mr. Jandrisits spent nine years
at the Royal Bank of Canada, where he last served as Vice
President of Global Real Estate and was responsible for managing
the bank's global real estate portfolio. He also headed Real Estate
Advisory Services, which was responsible for the review and
underwriting of transactions over $50 million.
Prior to joining RBC in 1993 Mr. Jandrisits held positions at Sun Life
Trust as a Manager in the Real Estate Finance division and at
Citibank Canada, where he was a Senior Associate in the
Corporate Real Estate.
His experience in the financial services industry followed several
years experience as Controller and Vice President, Marketing and
Administration for a Kerbel Group, Toronto area Developer.
Mr. Jandrisits holds an Honors Business Administration and a Master
of business Administration degree from the Ivey School of Business
at the University of Western Ontario.
Ryan Krauch - Principal, Mesa West Capital Session 3 - Panelist
Ryan Krauch is a Principal with Mesa West
Capital and is involved in all areas of the
company including originations, asset
management, investor relations and
operations. With offices in Los Angeles and New
York, Mesa West is a real estate finance company with over $2
billion in lending capacity. Mesa West primarily provides non-
recourse first mortgage loans for high quality institutional real estate
properties throughout the United States. The portfolio includes all
major property types with loan sizes from $10 million to $150 million.
As an institutionally funded portfolio lender, Mesa West has great
structuring flexibility and can provide certainty of execution for its
borrowers. The investment and due diligence process is extremely
streamlined allowing Mesa West to perform under tight time
constraints.
Prior to joining Mesa West, Mr. Krauch headed the joint venture
equity platform for Somera Capital Management, a West-Coast
based valued-add real estate equity funds manager. Mr. Krauch
started his career at PricewaterhouseCoopers Consulting (now IBM
Global Services). Mr. Krauch received his degree from Dartmouth
College, is actively involved in the Urban Land Institute, is a
member of the International Council of Shopping Centers, and is a
regular speaker at various real estate events.
Ethan Penner - President, CBRE Capital Partners
Session 3 - Panelist
Ethan Penner is the President and founder of
CBRE Capital Partners, the real estate debt
investment vehicle of CBRE. Mr. Penner has 29
years of experience in the real estate and
mortgage finance businesses.
During the 1990's Mr. Penner achieved renown
as the founder and CEO of The Capital
Company of America/Nomura Capital where he is considered by
many to have pioneered the application of securitization
technology to real estate finance. Mr. Penner was voted by his
peers in the real estate industry as “The Financial Services Executive
of the Year” for each year that he headed CCA/Nomura (1993-
1998). In 1999, National Real Estate Investor recognized him as one
of the 20th Century’s 100 Icons of the U.S. real estate industry. In
1997 and 1998, Global Finance included Mr. Penner as one of the
world’s most powerful people in finance.
Prior to creating CCA/Nomura, Mr. Penner was a Principal at
Morgan Stanley, responsible for developing and managing the
mortgage trading and mortgage finance businesses. He began his
career as a principal as a mortgage-backed securities trader at
Drexel Burnham Lambert. He has also served stints as President of
Kennedy Wilson and a Principal with Lubert Adler.
Mr. Penner has a B.S. in Finance from New York University. He has
been active in numerous philanthropic activities focused on
providing opportunities to disadvantaged youths. Notably, in 1996
he founded and led the Walt Frazier Youth Foundation which
provided internships to over 100 teenagers at major U.S.
corporations. He enjoys writing and has had numerous works
published in publications that include The Wall Street Journal, The
Institutional Real Estate Investor, among others. Ethan is married to
Marisol Penner and they have five children.
Mark E. Rose - Chairman & Chief Executive
Office, Avison Young Session 3 - Moderator
Mark E. Rose was named Chief Executive
Officer of Avison Young in June 2008 and
elected Chairman of the Board of Directors of
Avison Young (Canada) Inc. in November
2008. Mr. Rose oversees all financial,
2011 REALpac Chief Executives Retreat GUEST SPEAKERS, MODERATORS & PANELISTS
operational and strategic activities of the real estate services
company, which provides leading edge solutions to investors,
owners and occupiers throughout North America. Prior to joining
Avison Young, Mr. Rose was named Chief Executive Officer of
Grubb & Ellis Company (NYSE: GBE) in March 2005. He oversaw all
strategic and operational activities of this leading global
commercial real estate firm, which provides a full range of real
estate services, including transaction, management and consulting
services, to users and investors worldwide.
Mr. Rose joined Grubb & Ellis from Jones Lang LaSalle where he had
served as Chief Operating Officer and Chief Financial Officer of
the Americas since 2002. At Jones Lang LaSalle, he was responsible
for driving implementation of strategy, operational effectiveness
and delivery of client-focused business solutions in North and South
America as well as overseeing financial initiatives for the region.
During his 12-year career with Jones Lang LaSalle, he was
responsible for strategic corporate real estate solutions and
investment services across the full spectrum of property types,
including high-rise office towers, regional malls, retail centres,
industrial complexes and hotel investments. He was responsible for
the company’s Six Sigma implementation and its real estate
technology operational Centres of Excellence, and spent two
years as the company’s Chief Innovation Officer. Mr. Rose began
his career at Jones Lang LaSalle in Washington, D.C., when he
joined the company from Metropolitan Realty Advisors, a
brokerage and investment firm he founded in 1993. Previously, he
was Chairman, Chief Executive and Chief Financial Officer of the
U.S. Real Estate Investment Trust of British Coal Corporation Pension
Funds.
R. Scot Sellers - Chief Executive Officer,
Archstone Session 2 - Panelist
Under his guidance, Archstone has evolved into
one of the most respected—and innovative—
apartment companies in America.
In the last 14 years, the company has earned a
leadership position in virtually all aspects of the
apartment business including branding, capital
redeployment and technological innovation.
The company owns a unique portfolio of apartment communities
in many of the most desirable neighborhoods in the nation's
premier cities. With over 30 years of experience in the apartment
industry, Mr. Sellers has been responsible for the development,
acquisition and operation of more than $40 billion of apartment
communities.
Mr. Sellers served as the 2006 Chair for the National Association of
Real Estate Investment Trusts (NAREIT) and is a member of the
Executive Committee of the National Multi-housing Council. In
addition, Mr. Sellers was named as 2005 Entrepreneur of the Year in
real estate for the Rocky Mountain Region by Ernst & Young. Mr.
Sellers serves on the boards of The Howard Hughes Corporation,
the CEO Forum, Ace Scholarships and Scholar-Leaders
International. Prior to his role at Archstone, he held senior positions
with Security Capital Group Incorporated and Lincoln Property
Company.
Mr. Sellers received his M.B.A. from Stanford University Graduate
School of Business and a B.S. from Lewis and Clark College.
Stephen L. Sender - Managing Director, Industry
Head - Real Estate, Scotia Capital Inc. Session
2 - Moderator
Stephen Sender is a Managing Director at
Scotia Capital Inc. and serves as Industry Head
for the firm’s real estate practice, with 23 years
experience in the investment banking industry
both in Canada and abroad. During the past
15 years he has specialized in the Canadian
real estate sector, providing investment banking advice to
numerous public entities (REITs and real estate operating
companies). He has been directly involved in raising equity and
debt capital for the Canadian real estate sector since 1993 in a
very large number of transactions raising in excess of C$20 billion.
Over the years he has provided financial advice in numerous M&A
transactions in the real estate sector, including mergers, takeovers
and related party transactions. He is a frequent moderator/speaker
at conferences in Canada focusing on capital markets
developments in the real estate sector.
Prior to entering the investment banking industry Stephen spent five
years in the accounting profession working for Deloitte & Touche.
He received a Bachelor of Commerce (Honours) in 1979 and
qualified as a C.A. (S.A.) in 1984.
Peter Senst - Executive Vice President and
Director, CB Richard Ellis Session 2 - Panelist
With 19 years of Investment Sales experience
Peter has completed more than $14 billion in
sales of high profile real estate transactions
across Canada and the US. He is the leader of
the National Investment Team - Toronto. The
team runs a balanced book of business
between office, industrial, retail and land. Peter
has raised equity for numerous clients, monetized entire companies
and is able to help implement growth and strategic initiatives for all
real estate situations. For the past 6 years, Peter has consistently
been CB Richard Ellis’ top producing professional in Canada.
Vivek (Vick) Seth - Managing Director, Head of
Real Estate Investment Banking, Raymond
James Session 1 - Panelist
Vivek Seth has more than 20 years of corporate
finance and real estate experience, with
involvement in over 250 transactions worth more
than $40 billion. He is the Head of the Real Estate
Investment Banking Group at Raymond James &
Associates, which is involved with public and
private offerings and mergers and acquisitions
within the real estate, hospitality and homebuilding industries. Prior
to joining Raymond James in 2001, he was a senior member of the
real estate investment banking group at J.P. Morgan, where he
was involved in several landmark real estate transactions in the
United States, Europe and Latin America. Prior to J.P. Morgan, Mr.
Seth was one of the three founding members of the real estate
group at CIBC World Markets and previous to that spent eight
years at Salomon Smith Barney focusing on the real estate,
hospitality and healthcare industries. He received a Bachelor of
Science in electrical and computer engineering from the University
of Notre Dame.
2011 REALpac Chief Executives Retreat
MEMBER DIRECTORY
ORGANIZATION - CONTACT, TITLE E-MAIL PHONE EXT
1. Alberta Investment Management Corporation (AIMCO)- - Micheal Dal Bello, SVP, Real Estate [email protected] 780-392-3798
2. Allied Properties REIT - Michael R. Emory, President & CEO [email protected] 416-977-9002 131
3. Artis REIT - Armin Martens, President & CEO [email protected] 204-947-1250 234
4. Aspen Properties Ltd. - R. Scott Hutcheson, Chairman & CEO [email protected] 403-216-6807
5. Avison Young - Mark E. Rose, Chairman & CEO [email protected] 416-673-4028
6. Baybridge Seniors Housing Inc. - Doug MacLatchy, President & CEO [email protected] 416-487-2020 1
7. Bentall Kennedy Group - Gary Whitelaw, Group CEO [email protected] 416-681-3410
8. BMO Capital Markets Real Estate Inc. - Keith Jameson, Director [email protected] 416-359-7752
9. Boardwalk REIT - Sam S. Kolias, Chairman & CEO [email protected] 403-206-6789
10. Brookfield Financial Real Estate Group - Brydon Cruise, President & Managing Partner [email protected] 416-956-5223
11. Brookfield Real Estate Opportunity Fund - David D. Arthur, President & CEO [email protected] 416-359-8537
12. Cadillac Fairview Corporation Limited, The - John M. Sullivan, President & CEO [email protected] 416-598-8320
13. Calloway REIT - Al Mawani, President & CEO [email protected] 905-326-6400
14. Canadian Tire Corporation, Limited - Robert Mongeau, VP, Real Estate Services [email protected] 416-480-8044
15. Canderel - Richard Diamond, SVP [email protected] 416-593-6366 226
16. CANMARC REIT - James W. Beckerleg, President & CEO [email protected] 514-841-9725 358
17. CAPREIT - Thomas Schwartz, President & CEO [email protected] 416-861-9404
18. CB Richard Ellis Limited - John O'Bryan, Vice Chairman [email protected] 416-815-2388
19. Chartwell Seniors Housing REIT - Brent Binions, President & CEO [email protected] 905-501-4703
20. CIBC World Markets Inc. - Allan S. Kimberley, Vice Chairman and Managing Director [email protected] 416-594-7512
21. Colliers International Inc. - David J. Bowden, CEO Canada [email protected] 416-777-2200
22. Cominar REIT - Michel Dallaire, President & CEO [email protected] 418-681-8151
23. CREIT (Canadian REIT) - Stephen E. Johnson, President & CEO [email protected] 416-628-7780 32
24. Crombie REIT - Donald E. Clow, President & CEO [email protected] 902-755-4440
25. Cushman & Wakefield Ltd. - Pierre Bergevin, President & CEO [email protected] 416-359-2372
26. Dorsay Development Corporation - Geoffrey Grayhurst, President [email protected] 416-368-1460 22
27. Dundee REIT - Michael J. Cooper, Vice Chairman & CEO [email protected] 416-365-5145
28. EPIC Realty Partners Inc. - Gordon Thompson, President [email protected] 416-644-4280
29. Fengate Capital Management Ltd. - Lou Serafini Jr., President [email protected] 289-288-3810
30. First Capital Realty Inc. - Dori Segal, President & CEO [email protected] 416-504-4114
31. First National Financial LP - Moray Tawse, VP, Mortgage Investments [email protected] 416-593-2910
32. Gazit America Inc. - Gail Mifsud, CEO [email protected] 416-447-6400
33. GE Capital Real Estate - Bradley J. Trotter, Managing Director [email protected] 416-842-1721
34. Grosvenor Americas Limited - Andrew J. Bibby, President & CEO [email protected] 415-268-4031
35. GWL Realty Advisors Inc. - W. Paul Finkbeiner, President [email protected] 416-552-5157
36. H&R REIT - Thomas Hofstedter, President & CEO [email protected] 416-635-7520
37. Homestead Land Holdings Limited - Francine A. Moore, President [email protected] 613-546-3146
38. IGRI Inc. - John W. Comery, President & CEO [email protected] 416-798-6801
39. Infrastructure Ontario - David Livingston, President & CEO [email protected] 416-325-4851
40. Ivanhoe Cambridge Inc. - Kim McInnes, President & CEO [email protected] 514-841-7737
41. Killam Properties Inc. - Philip D. Fraser, President & CEO [email protected] 902-453-4536
42. M3 Capital Partners LLC - George W. Ahl, III, Principal [email protected] 212-582-7210
43. Macquarie Capital Markets Canada Ltd. - Ron Rimer, Executive Director, Head of ECM Canada and
Diversified Industries Canada [email protected] 416-848-3591
44. Manulife Financial - Kevin J.E. Adolphe, EVP & COO, Investments & President & CEO, Manulife Real Estate [email protected] 416-852-5880
45. MCAN Mortgage Corporation - William (Bill) Jandrisits, President & CEO [email protected] 416-591-2726
46. Melcor Developments Ltd. - Ralph B. Young, President & CEO [email protected] 780-423-6931
47. Menkes Developments Ltd. - Peter Menkes, President [email protected] 416-642-8180
48. Minto Group, The - Roger Greenberg, Chairman & CEO [email protected] 613-230-7051
49. Morguard Corporation - K. Rai Sahi, Chairman & CEO [email protected] 905-281-5888
50. Morguard Investments Limited - Stephen Taylor, President & COO [email protected] 905-281-3800
51. Morguard REIT - Tim Walker, CFO [email protected] 905-281-5925
52. Mortgage Fund Three - Robert Millar, President [email protected] 403-802-3674 1
53. National Bank Financial - Craig J. Shannon, Managing Director & Head of RE Investment Banking [email protected] 416-869-6781
54. Northern Property REIT - B. James Britton, President & CEO [email protected] 403-531-0725
55. NorthWest Healthcare Properties - Peter Riggin, President [email protected] 416-366-2000 224
56. OPTrust - Robert A.S. Douglas, Managing Director, Real Estate Investments [email protected] 416-681-2509
57. Oxford Properties Group Inc. - Blake Hutcheson, President & CEO [email protected] 416-865-5353
58. Parkbridge Lifestyle Communities Inc. - Iain Stewart, President, Western Operations & Co-CEO [email protected] 403-215-2109
59. Partners REIT - Patrick Miniutti, President & COO [email protected] 250-595-9328
60. Plazacorp Retail Properties Limited - Michael A. Zakuta, President & CEO [email protected] 514-457-7007
61. Primaris Retail REIT - John R. Morrison, President & CEO [email protected] 416-642-7860
62. Public Storage Canadian Properties - David P. Singelyn, President [email protected] 310-774-5303
63. Raymond James Ltd. - Lucas Atkins, Managing Director and Head of Real Estate Investment Banking [email protected] 416-777-7107
64. RBC Capital Markets Real Estate Group - Carolyn A. Blair, Managing Director [email protected] 416-842-8915
65. Redcliff Realty Advisors Inc. - George Schott, Chairman & CEO [email protected] 416-941-1708
66. Retrocom Mid-Market REIT - Richard Michaeloff, President & CEO [email protected] 416-741-7999 5227
67. RioCan REIT - Edward Sonshine QC, President & CEO [email protected] 416-866-3033
68. Scotia Capital Inc. - Stephen L. Sender, Managing Director, Industry Head - Real Estate [email protected] 416-863-7038
69. Scotiabank - Andrew B. Lennox, SVP, Real Estate [email protected] 416-866-7872
70. Scott's REIT - Teresa Neto, CFO [email protected] 416-361-9665 9953
71. SilverBirch Hotels & Resorts - Steve Giblin, President & CEO [email protected] 604-646-8401
72. Standard Life Investments (Real Estate) Inc. - Peter Cuthbert, Head of Real Estate [email protected] 416-367-1615
73. Sun Life Assurance Company of Canada - Philip C. Gillin, Sr. Managing Director, Head of Canadian Real
Estate [email protected] 416-204-8039
74. TD Securities Inc. - Andrew G. Phillips, Managing Director and Team Head [email protected] 416-982-5381
75. Timbercreek Asset Management - R. Blair Tamblyn, President & CEO [email protected] 416-306-9967 221
76. Transglobe Apartment REIT - Kelly C. Hanczyk, CEO [email protected] 905-293-9400 1970
77. Whiterock REIT - Jason Underwood, CEO [email protected] 416-907-4861
2011 REALpac Chief Executives Retreat CONTACTS… HOTEL…
CONTACT
Deborah Prestwich
Manager, Office Services
T: 416.642.2700 ext 221
F: 416-642-2727
Robert Campanelli M.U.P.
Vice President, Professional Development & Industry Sustainability
T: 416-642-2700 x222
F: 416-642-2727
HOTEL
THE PENINSULA
C H I C A G O
108 E Superior St , Chicago, IL 60611
(at N. Michigan Ave.) +1-312-337-2888