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Private Equity Real Estate Forum

May 23 – Toronto

goREAL 2019

A 360° Perspective on North American Real Estate

Deep dive into North American private equity real estate via the goREAL platform. This annual gathering of innovative and influential real estate leaders and investors offers one of a kind, intimate setting for industry stakeholders to address transformational market shifts as well as key economic, socio-demographic and technology trends impacting short/long-term investment decision-making. With a full day agenda covering a range of core topics on property markets, strategies across asset types, portfolio optimization, dealflow, fundraising, co-investments, deal structuring and transaction risk management, goREAL serves as a vibrant platform for sharing cutting edge solutions, sourcing capital and off-market deals, and cultivating effective relationships with peers and investors.

Ted Willcocks

Ted Willcocks

Global Head of Asset Management, Real Estate, Manulife
Jim Clayton

Jim Clayton

Professor and Timothy R. Price Chair, Brookfield Centre in Real Estate & Infrastructure, Schulich School of Business, York University
Stephen Price

Stephen Price

President & Chief Executive Officer, Graywood Developments
Steven Marino

Steven Marino

Senior Vice-President, Portfolio Management, GWL Realty Advisors

Jeff Ross

Jeff Ross

Senior Vice President, Leasing & Tenant Coordination, RioCan
Erika Gucfa

Erika Gucfa

Investment Director, Private Markets, Product Strategy & Solutions, Aberdeen Standard Investments
Charles Dillingham

Charles Dillingham

former Vice President, Portfolio Management, Morguard Financial; Senior Vice President, HOOPP
Paul Chin

Paul Chin

Executive Vice President and Chief Investment Officer, Otéra Capital

Frank Margani

Frank Margani

Executive Director, Mortgage Investments, KingSett Capital
John G. Crombie, ICD.D

John G. Crombie, ICD.D

Executive Leader & Senior Advisor (Commercial Real Estate)
Tim Sanderson

Tim Sanderson

Executive Vice President, JLL
Mike Czestochowski

Mike Czestochowski

Executive Vice President, Advisory ＆ Transaction Services, Land Services, CBRE

Stephen P. Doyle

Stephen P. Doyle

Chairman, Worldwide Properties Inc. (Family Office)
Emily Hanna

Emily Hanna

Partner, Investments, Crown Realty Partners
Sasha Cucuz

Sasha Cucuz

CEO at Greybrook Securities, Partner at Greybrook Capital
Kyle Hulme, CPA, CA

Kyle Hulme, CPA, CA

National Lead of Digital Strategy, National Real Estate Sector Consulting Leader, BDO Canada LLP

David Hamilton

David Hamilton

Chief Development Officer, Graywood Developments
Sanjil Shah

Sanjil Shah

Managing Partner, Alignvest Student Housing
Benjamin Abramov

Benjamin Abramov

Director, LaSalle Investment Management
Mathew Laing

Mathew Laing

Senior Vice President, Development and Planning, Trinity Group

Toby Wu

Toby Wu

Senior Vice President, Development, East, QuadReal
Derek Lobo

Derek Lobo

Founder and CEO, SVN Canada Inc., SVN Rock Advisors Inc.
Myron Boltman

Myron Boltman

Vice President, Office Leasing, Cushman & Wakefield
Amar Nijjar

Amar Nijjar

Founder & CEO, CapStack Advisory

Henryk Gelbert

Henryk Gelbert

Director, Mortgage Investments and Joint Ventures, Centurion Asset Management
 

Agenda

Actionable content by and for private capital leaders

 

 

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  • goREAL 2019

    May 23

  • privCAP 2019

    Sep 26

  • proTECH 2019

    Oct 10

  • goREAL 2018

    May 10

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Opening Remarks
    Where
    St. Andrew Hall

  • Key global and regional trends shaping North American property markets · Late cycle investing challenges, risks and opportunities: cyclical versus structural considerations · Societal, demographic and technological shifts and disruptions shaping the real estate sector · The changing geography of jobs and economic activity · Evolving definition of real estate – blurring of traditional property sectors and rise of new ones · Capital sources (debt and equity) for real estate investment and development today and tomorrow · Looking into the future - challenges and opportunities for real estate community over the next decade
    Keynote
    Where
    St. Andrew Hall

  • Assessing distinct fund structures and product offerings on the market · Return objectives, fund characteristics, leverage, liquidity features · Investment strategies across asset classes and geographies · Innovative portfolio strategies in competitive and volatile markets (risk/return trade-offs) · Assessing core, value-add, opportunistic/development investments · Opportunities, risks, challenges in primary and secondary markets · Co-investment vehicles, pooled real estate funds, private equity capital · Trends in capital flow, emerging regional/global players, evolving investor profile Leveraging technology for operational efficiency Risk management, compliance and governance
    Panel
    Where
    St. Andrew Hall

  • Mike will be speaking about the status of the GTA development land market by reviewing recent land transactions and current trends, how the government is responding to current trends and where the projected market might be going.
    Presentation
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Key demand drivers/macro to micro, interest rates/affordability, government policy, investor/owner occupier, onshore vs. offshore · Entitlements and approvals: opportunities/challenges relating to municipal process, evolving policies, community/political engagement, nimbyism · Construction cost escalation: what’s driving it and are we under sustained pressures; how are developers managing it? · Financing: land, construction, permanent; what is the lender’s view of the market and is there a gap vs. developer outlook; key constraints from the developer’s standpoint (land, construction, mezz, permanent)? · Major trends impacting development (technology, sustainability) and how companies are adapting · Joint-ventures and co-investments: private with private/ institution with institution / private with institution - are we going to see more of it? · Outlook for development growth and markets 2019/2020
    Panel
    Where
    St. Andrew Hall

  • Presentation by Derek Lobo on apartment market dynamics, reflecting on the 40 most expensive apartment transactions, cap rates across Canada, construction opportunities nationwide as well as mixed use properties, followed by discussion with Evan Kirsh on multifamily portfolio strategies, dealflow, emerging market risks and opportunities.
    Panel
    Where
    St. Andrew Hall

  • Buffet Lunch + Chef's Dessert
    Where
    Edinburgh Room

  • Student housing is an established global real estate asset class. Institutional investors have invested over $200 billion in student housing, with $15-20 billion invested annually in markets outside of Canada. Is there an opportunity to invest in Canada?
    Presentation
    Where
    St. Andrew Hall

  • WeWork, as a disruptor, seems to be move aggressively into the Toronto market (deal with Dream, JV with Ivanhoe). WeWork and co-working model – a threat or opportunity? · With tech office continuing to drive demand in the office market, what kind of space and amenities do technology companies demand? · With downtown Toronto facing one of the lowest vacancy rates, are there opportunities in the suburbs from an absorption of investment perspective? · What is driving demand for office development currently planned in Toronto? Is it a function of low availability rates downtown, new tenant amenities? · ESG and sustainable buildings are gaining a lot of traction from investors and tenants. Is the demand real or still somewhat academic? · Industrial availability rates are at historic lows, and so are industrial cap rates. investor interest outstripping fundamentals? · Where do you see the opportunity in industrial?
    Panel
    Where
    St. Andrew Hall

  • Retail in the US: transformational changes or business as usual/part of the economic cycle? · "Death of Retail”- Is there any truth to it? If so, how does it impact retail in Canada? · What can Canada learn from retail changes, trends and innovations happening around the world? Will Canada be able and/or willing to make these changes to survive? · What makes Canada retail different from the US or Europe? Why are we so special? · Is Canada ahead or behind in retailing when you look at the industry on a global basis? · Are Canadian retailers and landlords worried about changes happening in the US and globally? If so, what are they doing about it? · A number of US retailers are owned by private equity and are experiencing large financial debt loads that they are unable to service due, in part, by declining revenues. Why did this happen and what effect is it having on the retail market globally? · Entrance and expansion of luxury retail in Canada, such as HR, Sak’s, and Nordstroms, is the Canadian retail market large enough to support all of them? · Is there true meaning to the word “Placemaking” that seems to have fallen into our vocabulary? · How much influence does US retail really have on Canada? If so, where areas are most and least vulnerable? Which Canadian retailers are suffering with the recent foreign invasion? What can (or should) they do to survive?
    Panel
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Assessing the dynamics in capital formation for CRE projects; evolving sources of capital · Capital stack examples on a construction project with touch points on: Role of senior debt, mezz, pref equity, deposits and land lift to boost ROI’s with minimal cash equity; Big owner perspective i.e Otera vs Create Private Money i.e Firm’s view on it - conservative vs. aggressive structure?; Commonly used pref returns and waterfall structures. Does 90-10 with 12 pref and 50-50 work or not? · Where are the opportunities in today’s market - small/mid market unsophisticated developers with a good project or a large sophisticated developer with access to cheap cost of debt capital · Who is maximizing project level ROI better? · Touch on technology - proptech, finTech, WeWork · Family office perspectives on CRE deal structuring and co-investments · Challenges and opportunities for specialized CRE debt funds in Canada
    Panel
    Where
    St. Andrew Hall

  • Networking, deal sourcing, investment presentations
    Where
    St. Andrew Lounge

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Opening Remarks
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Buffet Lunch + Chef's Dessert
    Where
    Edinburgh Room

  • Networking, deal sourcing, investment presentations
    Where
    St. Andrew Lounge

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Networking, deal sourcing, investment presentations

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Opening remarks
    Where
    Main Dining Room

  • Economic outlook, interest rates and how these impact short/long-term asset allocations · Key global and regional trends shaping North American property markets · Assessing the current lending environment · Social, demographic and technological changes affecting the real estate sector · Capital in and outflows, property valuation, market correction · What makes the present cycle different from previous ones; what to expect in 2020 and beyond · What should investors know today to make better investment decisions tomorrow · US vs Canada: Challenges and opportunities for investors
    Keynote
    Where
    Main Dining Room

  • Which property classes and geographies offer the best risk/return trade-offs? · Innovating portfolio-level strategy in competitive and volatile markets · Assessing core, value-add and opportunistic investments · Niche real estate investments - pitfalls and profits · Investing in secondary markets - what works, what doesn't · Fine-tuning established portfolios to market trends · Co-investment structures and stakeholder management · Leveraging technology for operational efficiency · Portfolio risk management and tax considerations
    Panel
    Where
    Main Dining Room

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Development growth challenges and opportunities in key markets · Supply/demand in residential and commercial real estate · Coping with land/building costs and affordability · Deal structuring, financing and alternative sources of capital · Co-investment opportunities for private and institutional investors · Key technology trends impacting the construction industry · Real estate crowdfunding: competitive or complementary?
    Panel
    Where
    Main Dining Room

  • Financing a mega project like The ONE, where would developers find their cheapest source of capital since the credit crisis? · What trends do you currently observe in construction financing, and what opportunities do you see for non-bank lenders? · More private capital is available today for real estate investment than ever before. How keen are developers to access such liquidity at various stages of development? Is there room for partnership with private equity groups? · As a mixed-use project with undoubtedly prime location, it would be safe to assume The ONE is highly attractive to retail real estate investors. · How did this fact play out with project financing? · Tell us about your exit strategy… Pre-sale of residential units? Sale of retail space? What metrics do you use to make sure you will be in the green zone? · Key risk areas in large residential and commercial development projects · Profitability/success as a commercial project, and how do you plan to manage such risks? · Trends in high-rise development in Canada · Design and architectural challenges of building tall buildings · From vision to reality: navigating government approvals
    Interview
    Where
    Main Dining Room

  • Real estate investment vehicles: what is right for you? · Optimizing real estate deals (cost, structure, terms) · Transactional risk management (commercial, multi-family properties) · Trends and best practices in acquisition/disposition due diligence · Legal/tax considerations for forming and operating private real estate funds in Canada · Cross-border investments, tax strategies, offshore structures · Evolving compliance and regulatory environment
    Panel
    Where
    Main Dining Room

  • Buffet Lunch + Chef's Dessert
    Where
    Main Dining Room

  • Re-assessing multifamily investment approaches in current markets · Value-add and stabilized properties across the risk/return spectrum · Getting into the construction game: The new dealflow? · How shifting demographics and lifestyle attitudes impact the rental market · Property value and cashflow enhancement techniques · Boosting tenant acquisition and retention rates · Portfolio diversification and risk management
    Panel
    Where
    Main Dining Room

  • Running an effective fundraising campaign · How investors source and select funds · What incentives do you need to offer to LPs? · Building a momentum in the fundraising process · Raising capital from institutional firms · Strategies for securing a first strong close · Structuring your fundraising deals · Examining deal terms and capital stack · Working with placement agents · Real estate crowdfunding
    Panel
    Where
    Main Dining Room

  • Amar will talk about leading technology trends in the CRE capital space and discuss challenges faced by capital users in the private capital markets industry.
    Presentation
    Where
    Main Dining Room

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Investment climate and trends in primary and secondary cities · Redevelopment and repositioning in response to evolving client needs · Lease negotiation techniques for increased NOI and profitability · Digitalization and outsourcing - implications for office real estate investment · E-commerce, big data, analytics - how retailers and investors cope with technology · What does the future hold for office and retail construction? · CRE portfolio strategies for premium risk-adjusted returns · Approaches to capital stack and risk management in CRE deals · Biggest opportunities in 2020?
    Panel
    Where
    Main Dining Room

  • Hotel investment outlook: travel markets, hospitality trends · What drives investor demand: local vs. foreign groups · Competition for prime assets and its impact on valuation · M&A activity and consolidation trends in key markets · Deal structuring and financing options for investors · Innovative asset value enhancement techniques · Exit climate and secondaries · Optimizing operations and auxiliary revenue drivers · Choosing your hotel operator: What every investor should know · Independent vs chain hotels · Opportunistic development
    Panel
    Where
    Main Dining Room

  • Networking, deal sourcing, investment presentations
    Where
    Main Dining Room

  • WIne, Hors d'Oeuvre
    Where
    Marconi Lounge