2 0 1 1A n n u a l R e p o r t

I n t e l l i g e n t | I n f l u e n t i a l I I n f o r m a t i v e

Representingthe Canadian

Real Estate Industry

ProudlyCelebrating

Representingthe CanadianReal Estate Industry

ProudlyCelebrating

CEO Message 03Who We Are 04 2011 Officers and Board of Directors 05 Members of REALpac 06Our Guiding Principles 09 Vision 09 Mission 09 Values 09REALpac Streamlines Member Representative Structure 10REALpac & IPD Launch the “REALpac/IPD Canada Property Index” 11What We Do - 6 Key Areas 13 1 - Advocacy / Government Relations 14 2 - Financial Best Practices 18 3 - Research & Standards 20 4 - Professional Development 22 5 - Industry Publications 30 6 - Committees 32Our Staff 34Our Sponsors 36

INSIDE

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S. Michael Brooks, Ph.D., LLM, MBA

REALpacChief Executive Officer

CEO MESSAGE

2011 was another very successful year for REALpac. In addition to meeting almost all of our financial and operational targets for the year, we refreshed our commitment to membership in a number of ways. We reaffirmed our commitment to our Chief Executive members by creating events exclusively organized for them. We raised the bar at our Chief Executive Retreat and conducted roundtables in Toronto and Calgary to solicit direct input from Chief Executives on REALpac’s government relations initiatives and policy positions. I believe we go into 2012 on the strongest footing we have ever been on in terms of being truly representative of the Canadian institutional and public real estate market.

Lobbying for the REITs continued this year. I’m hopeful that the third round of REIT amendments will be forthcoming in the federal 2012 spring budget. We reaffirmed our commitment to our pension fund, pension fund advisor, and institutional members by successfully transitioning the IPD joint arrangement from ICREIM and putting that relationship on a new five-year footing. Many of our members rely on appraisal-based data for benchmarking and performance assessment and we are pleased to be able to grow that relationship through IPD.

We also made significant progress in expanding our professional development offerings in 2012, sensing a vacuum in the market in Canada. We rolled out new offerings in Valuation, Finance and Investment, and Asset Management. We also once again added to our menu of benchmarking services by developing, with FPL out of Chicago, a Mortgage Lender Compensation Survey. Our Chief Executives Retreat in Chicago was the best yet, with our largest group of Chief Execu-tives in attendance to date. Hearing Scotty Bowman, our keynote speaker, talk about his experiences was a highlight as were the opulent surroundings of the

Peninsula Hotel. That’s a hard act to follow but I’m sure we will try to beat it in 2012.

I am delighted to hand the reigns of this great organization over to Mr. Paul Morse as of March 5th, 2012. I am sure he will carry on, with REALpac staff, providing great service to REALpac members and providing excellent stewardship of this industry into the future. It has been a great almost 15 year run for me as CEO of REALpac, and I’ve had the pleasure to watch our industry grow and mature to be, based on 2011 REIT returns and IPD data, amongst the strongest in the world.

My thanks to all of my Board Chairs over the years from whom I have learned so much. Thanks to the past and current Board members who have treated me so well. Thanks to all REALpac members and their staffs over the years without whose support we would not have been able to accomplish what we did. Thanks to the staff of REALpac, who were day-family for me and each other, and who made coming to work every day truly enjoyable. They are all so talented. I also thank my colleagues in the other organizations we have partnered with over the years, including recently Ferguson Partners Limited and Mr. Bill Ferguson, MMCI Canada and Mr. George Przybylowski, IPD and Mr. Simon Fairchild, Marsh and our various sponsors. It has also been an honor to work with various other associations with whom we have joined forces from time to time. To all, I will miss you. Farewell.

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2011 Officers

2011 Board of Directors

Pierre Bergevin

President & CEO

Cushman & Wakefield Ltd.

James Britton

President & CEO

Northern Property REIT

Roger Greenberg

Chairman & CEO

The Minto Group

Peter Menkes

President

Menkes Developments Limited

Thomas Schwartz

President & CEO

CAPREIT

Kim McInnes

President

Ivanhoe Cambridge Inc.

Philip Fraser

President & CEO

Killam Properties Inc.

Dori Segal

Chair & Director, REALpac, 2011 & 2012

President & CEO, First Capital Realty Inc.

Stephen Taylor

Vice Chair & Director, REALpac, 2011 & 2012

President & COO,

Morguard Investments Limited

WHO WE ARE

Alberta Investment Management Corporation (AIMCO) Micheal Dal Bello SVP, Real EstateAllied Properties REIT Michael Emory President & CEO Peter Sweeney VP & CFOArtis REIT Armin Martens President & CEO Jim Green CFOAspen Properties Ltd. Scott Hutcheson Chairman & CEO Veronica Bouvier EVP & CFOAvison Young Mark Rose Chairman & CEO Robert Ishoj CFO, PrincipalBaybridge Seniors Housing Inc. Doug MacLatchy President & CEO Sandy Ardern CFOBentall Kennedy Group Gary Whitelaw Group CEO Lawrence Neilson CFOBMO Capital Markets Real Estate Inc. Derek Dermott Managing Director Keith Jameson DirectorBoardwalk REIT Sam Kolias Chairman & CEO William Wong CFOBrookfield Financial Brydon Cruise President & Managing Partner Mark Murski Managing Partner & CFOBrookfield Real Estate Opportunity Fund David Arthur President & CEO Sujoy Gupta VP, FinanceBuild Toronto Inc. Lorne Braithwaite President & CEO David Fiume SVP & CFOCadillac Fairview Corporation Limited, The John Sullivan President & CEO Cathal O’Connor EVP & CFOCalloway REIT Al Mawani President & CEO Bart Munn CFOCanadian Tire Corporation, Limited Robert Mongeau VP, Real Estate ServicesCanderel Richard Diamond SVP David Hawrysh CFOCANMARC REIT James Beckerleg President & CEO Gordon Lawlor EVP & CFOCAPREIT Thomas Schwartz President & CEO Scott Cryer CFOCBRE Limited John O’Bryan Vice Chairman Jeff Cook SVP, FinanceChartwell Seniors Housing REIT Brent Binions President & CEO Vlad Volodarski CFOCIBC World Markets Inc. Allan Kimberley Vice Chairman and Managing Director Mark Johnson Managing DirectorColliers International Inc. David Bowden CEO Canada Peter Humphries CFOCominar REIT Michel Dallaire President & CEO Michel Berthelot VP & CFOCREIT (Canadian REIT) Stephen Johnson President & CEO Tim McSorley VP & CFOCrombie REIT Donald Clow President & CEO Glenn Hynes CFO & Secretary

MEMBERS OF REALpac

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Cushman & Wakefield Ltd. Pierre Bergevin President & CEO Rene Gulliver CFO, AmericasDorsay Development Corporation Geoffrey Grayhurst President Edmond Chow CFODundee REIT Michael Cooper Vice Chairman & CEO Mario Barrafato SVP & CFOEPIC Realty Partners Inc. Gordon Thompson President Sandra Gay VP & CFOFengate Capital Management Ltd. Lou Serafini Jr. President Pranav Pandya VP, Finance & OperationsFieraSceptre Stuart Lazier CEOFirst Capital Realty Inc. Dori Segal President & CEO Karen Weaver EVP & CFOFirst National Financial LP Moray Tawse VP, Mortgage InvestmentsGazit America Inc. Gail Mifsud CEO Lenis Quan CFOGE Capital Real Estate Bradley Trotter Managing Director David Stippich CFOGrosvenor Americas Limited Andrew Bibby President & CEO Rekha Patel CFOGT Canada Medical Properties REIT Andrew Shapack CEO Brian Wilson CFOGWL Realty Advisors Inc. Paul Finkbeiner President Ralf Dost CFO & EVPH&R REIT Thomas Hofstedter President & CEO Larry Froom CFOHomestead Land Holdings Limited Francine Moore President Joseph Tomasich CFOIGRI Inc. John Comery President & CEO Michael Bruce VP, Accounting & FinanceInfrastructure Ontario David Livingston President & CEO Jim Curran Jim CurranIvanhoe Cambridge Inc. Kim McInnes President Gervais Levasseur EVP & CFOKillam Properties Inc. Philip Fraser President & CEO Robert Richardson EVP & CFOM3 Capital Partners LLC George Ahl, III PrincipalMacquarie Capital Markets Canada Ltd. John Bartkiw Managing Director, DIG & Head of Real Estate, Canada Sandy Poklar VP, Investment BankingManulife Financial Kevin Adolphe EVP & COO, Investments & President & CEO, Manulife Real Estate Larry Verdon CFO, Real Estate DivisionMCAN Mortgage Corporation William Jandrisits President & CEO Tammy Oldenburg VP & CFOMelcor Developments Ltd. Ralph Young President & CEO Jonathan Chia CFO & VP FinanceMenkes Developments Ltd. Peter Menkes President Jim Leon CFOMinto Group, The Roger Greenberg Chairman & CEO Robert Wener CFOMorguard Corporation Rai Sahi Chairman & CEO Paul Miatello CFO

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Morguard Investments Limited Stephen Taylor President & COO Pamela McLean Senior VP Finance & CFOMorguard REIT Tim Walker CFOMortgage Fund Three Robert Millar PresidentNational Bank Financial Craig Shannon Managing Director & Head of RE Investment Banking Philippe Tomic VP, Corporate & Investment BankingNorthern Property REIT James Britton President & CEO David Leiman CFONorthWest Healthcare Properties Peter Riggin President Ernest Spraggs CFOOPTrust Robert Douglas Managing Director, Real Estate InvestmentsOxford Properties Group Inc. Blake Hutcheson President & CEO Colin Loudon EVP & CFOParkbridge Lifestyle Communities Inc. Iain Stewart President, Western Operations & Co-CEO Cal Wilson CFOPartners REIT Patrick Miniutti President & COO Dionne Barnes CFOPlazacorp Retail Properties Limited Michael Zakuta President & CEO Floriana Cipollone CFOPrimaris Retail REIT Louis Forbes EVP & CFO John Morrison President & CEOPublic Storage Canadian Properties David Singelyn President Vincent Chan CFORaymond James Ltd. Lucas Atkins Managing Director and Head of Real Estate Investment Banking Michael Lazier VPRBC Capital Markets Real Estate Group Carolyn Blair Managing DirectorRedcliff Realty Advisors Inc. Sam Schembri CFORetrocom Mid-Market REIT Richard Michaeloff CEO Tom Wenner CFORioCan REIT Edward Sonshine QC President & CEO Rags Davloor SVP & CFOScotia Capital Inc. Stephen Sender Managing Director, Industry Head - Real EstateScotiabank Andrew Lennox SVP, Real Estate David Morley VP, Real EstateScott’s REIT Teresa Neto CFOSilverBirch Hotels & Resorts Steve Giblin President & CEOSkyline Gil Blutrich President Vadim Shub CFOStandard Life Investments (Real Estate) Inc. Peter Cuthbert Head of Real Estate Gregory Martin Property Finance ManagerSun Life Assurance Company of Canada Philip Gillin Sr. Managing Director, Head of Canadian Real Estate Marie Bishop AVP Mortgages & Real EstateTD Securities Inc. Andrew Phillips Managing Director and Team HeadTimbercreek Asset Management Blair Tamblyn President & CEO Ugo Bizzarri CFO, VP Acquisitions / FinanceTransglobe Apartment REIT Kelly Hanczyk CEO Leslie Veiner CFO & SecretaryWhiterock REIT Jason Underwood CEO Kursat Kacira CFO

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Vision

Mission

Values

To be Canada’s most influential voice in the real property investment industry.

To bring together Canada’s real property investment leaders to collectively influence public policy, to educate government and the public, and to ensure stable and beneficial real estate capital and property markets in Canada.

Excellence: We strive for excellence in everything we do, from workplace organization, to ethical standards, to personal growth, to communications with others, to dealings with and amongst Members, and to dealings with government and the public. We strive for continuous improvement.

Leadership: We strive to be leaders for the Canadian real property community. We see things not as they are, but as they ought to be, and effectively communicate those aspirations to the wider community. We encourage positive change, and dare to articulate new visions and approaches that foster economic growth, environmental sustainability, and human equity. We strive to be seen as stewards of our industry.

Citizenship: We strive to enlarge our role as part of the local, provincial, national and international community and fulfill those responsibilities professionally, credibly and with the utmost integrity, keeping the greater good in mind. We represent our Members carefully, thoughtfully, and always with due regard to the need to earn and maintain the respect of those we may be communicating with and the wider community.

OUR GUIDING PRINCIPLES

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REALpac STREAMLINES MEMBER REPRESENTATIVE STRUCTURE AND REAFFIRMS ITS COMMITMENT TO CHIEF EXECUTIVES

As a result of the 2010 Member Survey of Chief Executives, feedback from the Annual Leadership Retreat, and discussions at the Board on how to improve engagement of our leaders, as of May 1st, REALpac refocused specific events, advocacy leadership and professional development on the “Chief Executive” (i.e., the senior most officer responsible for all matters related to real property – CEO, President, Managing Director, or their functional equivalent).

As part of a new strategic member representative structure, a rigorous review of membership was undertaken, and an environment scan conducted on how the best-in-class, executive level associations worldwide handle their membership structure. We believe that this slight refinement will enhance the membership experience of our Chief Executives.

Exclusive to our Chief Executives, we offered the following events in 2011:

• The Chairman’s Dinner

• Chief Executives Retreat

• Chief Executives Policy Roundtables (Toronto & Calgary)

Exclusive to our Chief Financial Executives (i.e., the senior most financial officer responsible for all matters related to real property [i.e., CFO, or their functional equivalent]), we offered the following events in 2011:

• Senior Financial Officers Retreat

• Chief Financial Executives Dinner

Chief Executives and Chief Financial Executives are invited to attend the REALpac Annual General Meeting.

Of course, other senior staff of REALpac member companies may participate in the Association as a “Member Delegate” to serve on REALpac committees and receive the unique features and benefits offered by the Association.

REALpac & IPD LAUNCH THE “REALpac / IPD CANADA PROPERTY INDEX”

At the beginning of 2011, REALpac assumed the functions of the Institute of Canadian Real Estate Investment Managers (ICREIM), an organization originally formed to manage the Frank Russell Index for Canada and subsequently, the ICREIM / IPD Canada Property Index.

A new REALpac / IPD Canada Property Index Committee was established of former ICREIM members within REALpac for the purpose of enhancing the Canada Property Index. In turn, REALpac and IPD signed an agreement on January 27, 2011, to work together and to rebrand the Canada Index as the REALpac / IPD Canada Property Index.

On February 17, 2011, REALpac and IPD presented the results of the Canada Property Index. Investment in Canadian commercial real estate bounced back in 2010 with the strongest performance in three years, at 11.1%, as measured by the rebranded REALpac / IPD Canada Annual Property Index. The annual total return – a marked turnaround from 2009’s negative return, at -0.3%, and 3.7% in 2008 – is underpinned by a 4.0% capital growth and a 6.5% income return.

The REALpac / IPD Canada Annual Property Index measured C$97 billion of directly-held commercial real estate as at the end of 2010.

IPD is a global information business, dedicated to the objective measurement of commercial real estate performance. As the world’s number one provider of

real estate performance analysis for funds, investors, managers and occupiers, IPD offers a full range of services including research, reporting, benchmarking, conferences and indices. IPD operates in more than 20 countries including most of Europe, the US, Canada, South Africa, Australia, New Zealand and Japan. IPD’s indices are the basis for the developing commercial property derivatives market, and the most authoritative measures of real estate returns worldwide. For further information visit www.ipd.com and for IPD’s News Centre visit www.ipd.com/news

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1. Advocacy / Government Relations REALpac provides representation before federal, provincial and

municipal policymakers on issues affecting the investment real estate industry.

2. Financial Best Practices REALpac speaks with a single, credible and authoritative voice with

the financial media and the investment marketplace.

3. Research & Standards REALpac provides access to the latest industry research, standards

and surveys.

4. Professional Development The REALpac Professional Development Institute provides industry

and member only professional development, training, conferences and events.

5. Industry Publications REALpac produces a number of publications in a host of areas of key

interest and importance to the Canadian commercial real estate industry.

6. Committees REALpac allows for participation on any of its standing or ad

hoc committees.

WHAT WE DO – 6 KEY AREAS

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REALpac has a specific approach to government relations. We prefer to develop positions in-house, and to present those views in a consistent way to governments and stakeholders. We always research our positions, and strive to understand the legal and political background of the issue.

Our Approach

1. Advocacy / Government Relations

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Advocacy PrinciplesWe engage in dialogue with government officials and stakeholders based on the following core principles:

• REALpac is politically neutral and works collaboratively with government officials and representatives on issues related to real estate, capital and property markets

• REALpac always seeks higher moral ground and sees itself as a steward responsible for the good of the investment real estate industry

• REALpac is committed to following and adhering to federal, provincial, and municipal lobbying registration and disclosure laws, and conducting its lobbying efforts in a transparent manor

• REALpac works collaboratively with like minded organizations to influence public policy that benefits our Members and the industry as a whole

• REALpac maintains an informed, extensively researched issues base by staff who understand real estate

New for 2011

The purpose of the ‘REALpac Chief Executive Policy Roundtable Series’ was to engage REALpac Chief Executive Members in discussions regarding current and future advocacy efforts, as well as encouraging dialogue and open lines of communications on the issues. Roundtables were held in Toronto and Chicago and were highly successful.

 

In 2011, REALpac was pleased to see the federal government’s commitment to finalizing the REIT legislation, as outlined in the budget, and remain in active contact with Finance Canada throughout the consultation period. REALpac was also pleased to see the federal government invest significant amounts of money into new energy efficiency and environmental initiatives such as establishing a more stringent National Energy Code for Buildings and improving indoor air quality to list a few. REALpac had advocated for many of these initiatives through our pre-budget and green platform submissions.

REALpac also established meaningful partnerships with the Federal government in 2011: We were invited by the Ministry of Natural Resources Office of Energy Efficiency to serve on a committee that is focused on establishing an innovative financing mechanism for energy efficient buildings. This committee will take its final set of recommendations and present them to the Council of Energy and Mines Ministers in the summer of 2012. REALpac is also currently working collaboratively with Environment Canada on a national best practice program to prevent bird collisions with commercial buildings.

Provincially, while elections nation-wide deferred progress we had made on files, REALpac took advantage of the time to consult with members on our advocacy efforts via the Chief Executive Policy Roundtable luncheons which produced invaluable feedback. 2011 also marked a first for REALpac, as we made submissions in all ten Canadian provinces and are now actively pursuing advocacy issues in each.

(1) Defining Our Position

REALpac defines its position on industry issues through member feedback, internal policy analysis, and attendance at key stakeholder meetings. Our tools include:

• Stakeholder Meetings • International Research • Consultations with Government • Staff Analysis

(2) Building Support

REALpac builds support for its initiatives by maximizing its presence to government officials and the public, securing key partnerships with like-minded organisations, and utilizing industry resources to their maximum extent. Our tools include:

• Coalition Building • Social Media • Trade Publication Articles

(3) Communicating with Government & Key Stakeholders

REALpac effectively communicates with government and key stakeholders through multiple avenues including meetings, fundraisers, formal and informal emails, conference calls, and submissions. Our tools include:

• Attending Political Fundraisers• Bringing Member representatives along

to meetings• Consultation Submissions• REALpac/Government Official Meetings • Data and Information Sharing • Informal Emails & Phone Calls • Submission Writing

1. Defining Our Position

2. Building Support

Member Consultation

- Direct Mail

- Earned Media

- Advertising

- Mobilizing Members

Policy Analysis

REALpac/ Gov’t

Joint Policy Development

3. Communicating with Government

& Key Stakeholders

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2011 Wins Directly Related to REALpac’s Advocacy Efforts Included:• $78 million investment by Natural Resources Canada

over the next two years towards new energy efficiency initiatives including establishing a more stringent National Energy Code for Buildings

• $600.8 million by Environment Canada over the next five years towards improving indoor and outdoor air quality

• Pre-merger notification transaction-size threshold increase from $70 million to $73 million

International Affairs:Internationally, REALpac worked with the Real Estate Equities Securitization Alliance (REESA) to further and protect the interests of our Members investing abroad. Members of REESA include REALpac, the European Public Real Estate Association (EPRA), the British Property Federation (BPF), the National Association of Real Estate Investment Trusts (NAREIT), the Property Council of Australia (PCA), the Asia Pacific Real Estate Association (APREA), and the Association for Real Estate Securitization (ARES). REALpac is represented on the Global Reporting Initiative’s (“GRI”) Construction & Real Estate Sector Supplement. We are also working with the United Nations Environment Program Sustainable Buildings and Climate Initiative (“UNEP SBCI”).

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2011 Advocacy Issues

Amendments to the Real Estate Investment Trust (REIT) Rules Federal

Amendments to Competition Bureau Pre-Merger Notification Fee Requirements Federal

Creating a Robust Sustainable Development Strategy Federal/Provincial/Municipal

Ontario Security Commission Business Acquisition Report (BAR) Obligations Provincial

Changes to Real Estate Brokers Acts Provincial

Over-The-Counter Derivative Trading Provincial

Employment Lands and Retail Zoning Provincial

Bird Collisions with Commercial Real Estate Buildings Federal/Provincial

Issue Government Level

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REALpac’s objective is to lead the industry in developing and recommending best practices in financial reporting in Canada. We also seek to lead the industry by advocating to standard setters in Canada and internationally for fair and relevant accounting and financial reporting standards.

Our Approach

2. Financial Best Practices

Our approach is to:

• Research issues

• Understand the potential impact of new financial reporting standards

• Develop application guidance and to form best practice recommendations through the input of the REALpac Financial Best Practices Committee

• Partner with other global real estate associations through its active participation in the Real Estate Equity Securitization Alliance (REESA) to develop consensus views globally on accounting and financial reporting matters, as well as on the application of ac-counting standards

REALpac’s leadership in financial best practices is recognized by the wider Canadian real estate investment and development industry through REALpac’s IFRS and ASPE Handbooks, in-class accounting training programs, and various publications.

Submissions to Government in 2011 included:• REESA Submission on IASB Agenda

Consultation 2011

• REESA Comment Letter to the IASB and FASB on Lessor Accounting Model for Investment Properties Reported at Cost

• REESA Comment Letter to the IASB and FASB in Response to the Proposed Scope of Investment Property Standards

• REESA Comment Letter in Response to the IASB and FASB Joint Request for Views on Effective Dates and Transition Methods

To download any of the above noted submissions, go to www.realpac.ca > Financial Best Practices > Submissions to Standard Setting Bodies

Highlights in 2011 included:• Lobbying with REESA on changes to the Leases

exposure draft (and working to help the IASB and FASB better understand our industry)

• Publication of the REALpac ASPE Handbook

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• Working on ensuring consistent reporting practices under IFRS in the first year of its implementation through: guidance provided in the IFRS Handbook, and discussions in the FBPC Committee to bring forward and resolve IFRS implementation challenges and issues.

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Undertaken in a sound, reasoned, and deliberative manner, our internal and directed research activities provide compelling arguments to support our advocacy initiatives and address issues of importance to the Canadian real property investment industry. Our research initiatives include “Thought Leadership” Papers on current issues, Standards, and Surveys.

Our Approach

3. Research & Standards

Featured Research in 2011 included:

Canadian Institutional Commercial Mortgage Market Estimated at $110.0 billionREALpac commissioned a research report by Dr. Cynthia Holmes, PhD, Ryerson University, to determine the changes in the size of the commercial mortgage market since 2000 and the effect of the weak economic conditions of 2008 and 2009 on market size. The report also analyzed how changes in key macroeconomic variables are associated with changes in commercial mortgage holdings. The research concluded that the total size of the disclosed institutional commercial mortgage market in Canada, and as of May 2011, was estimated at $110.9 billion.

2011 Canadian Institutional Commercial Mortgage Market Report

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The REALpac Professional Development Institute is the home for all of REALpac’s professional development related activities including training courses, webinars, conferences, and member-only events.

Our Approach

4. REALpac Professional Development Institute

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Professional Development Programs:

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REAL Estate

Asset Management

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Finance & Investment

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Advance your career: Commercial Real Estate Programs

Canadian GAAP is changing. Effective, January 1, 2011, publicly-accountable entities will need to report under IFRS. Public entities need a good understanding of both Canadian GAAP and IFRS. Both standards do not provide rules for specific industries and therefore a challenge exists in the practical interpretation and application of accounting standards to the real estate industry. This course will provide participants with a review of REALpac’s recommendations for the interpretation and application of IFRS for the publicly-accountable real estate investment and development industry in Canada.

Asset Management Accounting Leadership Development

This unique program, led by REALpac’s CEO, Michael Brooks, PhD, and a world-class faculty of seasoned industry practitioners and professors, offers a professional development experience second to none in Canada.

This 2.5 day intensive program has been developed to:• Complement the professional development

needs of the Canadian commercial real estate sector,

• Help organizations prepare their most talented professionals to lead the business,

• Meet the needs of professionals looking to develop a stronger understanding of the key business functions of a successful commercial real estate organization.

This distinctive and one of a kind program in Canada, offers participants an in-depth look into the world of Asset Management; each participant will develop an understanding of the asset management function as well as the skills and experience required of a qualified asset manager. They will come to appreciate the risks, benefits and costs of various asset management mandate models; be introduced to the cross-functional interplay between asset management and property management, finance, leasing, accounting, legal, development, tax, and sales & marketing; review the budgeting & planning process, mergers & acquisitions, evaluating hold/sell decisions, public and private financing, build vs. buy decisions, valuation analysis, client service and reporting; and, among other things, will gain practical insight from seasoned industry professionals.

REALpac, in partnership with MMPI Canada, produced five of Canada’s best attended real estate conferences:

Conferences:

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Chief Executive Only Events

Chief Executive Policy Roundtables (Toronto & Calgary)

7th Annual Chief Financial Executives Dinner (Toronto)

1st Annual Chairman’s Dinner (Toronto)

21st Annual Bank of Canada Dinner with The Governor of the Bank of Canada, Mark J. Carney, and his senior deputies (Ottawa)(Board Members only and invited guests)

Annual General Meeting (Chief Financial Executives were also invited to this meeting)

 

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REALpac produces a number of publications in a host of areas of key interest and importance to the Canadian commercial real estate industry.

Our Approach

5. Industry Publications

   

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Our Committee Members assist REALpac in setting priorities, devising strategies, and influencing policies that affect our industry. Additionally, the Committee meetings provide a forum for senior Members of REALpac to exchange ideas and offer opportunities to build relationships. REALpac Committees are very active and meet three to four times per year.

Our Approach

6. Committees

Corporate Responsibility & Sustainability Committee

To establish a broad industry framework that supports the Corporate Responsibility & Sustainability needs of the Canadian real property community. To draw insight from a community of experts when trying to set priorities and influence policies, and to be a forum at which to exchange ideas and promote best practices.

Energy Committee

To provide leadership around building energy con-sumption targets and reduction initiatives in Canada. To encourage intelligent and cost effective reduction in energy usage in buildings and to provide positive public and government relations for our industry. To position the industry to attract the best tenants, avoid excess regulation, and maintain profitability over the long term.

Financial Best Practices Committee

To monitor and maintain Canadian generally accepted accounting principles applicable to the real estate industry; to monitor U.S. and international accounting standards, to recommend changes when necessary to the REALpac IFRS & ASPE Handbooks; and to monitor financial reporting rules and policies issued by security regulators in Canada and the U.S.

Human Resources Committee

To share best practices within the professional human resources community, discuss issues related to professional development, and share information related to compensation-related surveys.

REALPAC / IPD Canada Property Index Committee

To increase real estate market transparency in Canada through independent and comparable performance analysis with investors, managers, consultants, and occupiers.

REIT Committee

To identify legislative changes required for the REIT vehicle; to review capital markets issues; and to set REIT industry standards.

Risk Management Committee

To share best practices within the insurance and risk management community, discuss issues affecting the industry, and develop and maintain benchmarking data.

Committee Mandates

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Michael Brooks, Ph.D., LLM, MBA

Chief Executive Officer

mbrooks@realpac.ca

416-642-2700 x 224

Nancy Anderson, CA, MA

VP, Financial Reporting

nanderson@realpac.ca

416-642-2700 x 226

• 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)

• Fellow of the Royal Institution of Chartered Surveyors

• LEED AP

• 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

Robert Campanelli, MUP

Vice President, Professional Development

& Industry Sustainability

rcampanelli@realpac.ca

416-642-2700 x 222

• 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

Carolyn Lane, MBA, MA

Vice President, Research & Communications

clane@realpac.ca

416-642-2700 x 223

• 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

OUR STAFF

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Deborah PrestwichManager, Office Services

dprestwich@realpac.ca

416-642-2700 x 221

Julia St. Michael, MBA, LEED AP

Manager, Marketing & Member Services

jstmichael@realpac.ca

416-642-2700 x 237

• 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

• 16 years as Executive Assistant to the President & CEO,

Cineplex Odeon Corporation

• Appointed Corporate Secretary, Cineplex Odeon, for two years

• Established and supervised the Charitable Donations Department,

and instrumental in establishing the Human Resources Department,

Cineplex Odeon

• 17 years of corporate / commercial law experience for two senior

partners at Goodman and Carr, Toronto

Liliya Lourenco, BIB, CGA (Level 3)

Accounting Administrator

llourenco@realpac.ca

416-642-2700 x 234

• Bachelor Degree in International Business (BIB)

• Certified General Accountants (CGA), Level 3

Ryan Eickmeier, MPP

Manager, Government Relations & Policy

reickmeier@realpac.ca

416-642-2700 x 224

• Master of Public Policy (M.P.P.), The American University School

of Public Affairs

• Certificate in Political Campaign Management (Campaign Manage-

ment Institute), The American University School of Public Affairs

• Honours Bachelor of Political Science (BA Magna Cum Laude),

Pre-Law, Politics, and International Relations, New England College

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Sponsorship is the vehicle through which select suppliers and expert service providers interact with REALpac staff and the membership. Through an informal program of offerings, sponsors work in concert with REALpac staff and the membership to advance the Association’s mission and improve each other’s businesses.

It is through the development of a broad and sophisti-cated bank of leaders from organizations which naturally dovetail with the Association, that REALpac is able to foster a strong peer-to-peer network, support a cooperative exchange of talent and ideas, and promote a high-level and practical transfer of knowledge between the members of the Association and the organizations that serve its Members.

OUR SPONSORS

BDO prides itself on delivering quality client service, technical expertise and unique

specializations. As a hard-working team of partners, professionals, and additional staff, we

communicate and collaborate on many different projects. Our strong sense of professionalism,

commitment, and loyalty accompanies a genuine respect for each other, our clients, and our

communities. We work to solve problems and implement solutions in a timely manner, while

acting with honesty and integrity at all times.

Forward-thinking business advice, 150 years’ experience

Deloitte, one of Canada’s leading professional services firms, provides audit, tax, financial

advisory and consulting services through more than 7,600 people in 56 locations across the

country. As far back as 1845, our founders began pioneering the development of professional

standards. Today, we continue to reflect their progressive mindset by serving our clients with

results, quality and integrity.

E&Y Creating the right climate for your business success. We provide global services in four

main areas: Assurance, Tax, Transactions and Advisory. Through these services, we can help

you retain the confidence of investors, manage your risk, strengthen your controls and achieve

your potential.

We are 130,000 talented people with a shared way of working and commitment to quality.

This allows us to put together a team that can give you the seamless service you need,

wherever you are in the world.

FPL Advisory Group (“FPL”) is a family of companies focused on providing highly specialized

advisory services to the real estate and related operating and financial services industries.

Through our complementary practice areas, we work with our clients to develop the right

talent, leadership, structure, and strategies for success in today’s intensely competitive

marketplace.

FPL is comprised of two primary operating companies that work together to serve a common

client base. Ferguson Partners provides executive, director, and professional search services.

FPL Associates provides a range of specialized consulting and finance-related services in the

areas of compensation, management consulting, executive on-boarding, and succession

planning. The firm is headquartered in Chicago and maintains offices in London, New York,

San Francisco, and Tokyo. For more information, please visit www.fpladvisorygroup.com.

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ICF International (NASDAQ:ICFI) partners with government and commercial clients to deliver

consulting services and technology solutions in the energy, climate change, environment,

transportation, social programs, health, defence, and emergency management markets. The

firm combines passion for its work with industry expertise and innovative analytics to produce

compelling results throughout the entire program life cycle, from analysis and design through

implementation and improvement. Since 1969, ICF has been serving government at all levels,

major corporations, and multilateral institutions. More than 3,000 employees serve these

clients worldwide. ICF’s Web site is www.icfi.com.

KPMG LLP, a Canadian limited liability partnership established under the laws of Ontario, is

the Canadian member firm affiliated with KPMG International, a global network of professional

firms providing Audit, Tax, and Advisory services. Member firms operate in 145 countries and

have more than 123,000 professionals working around the world.

Marsh has over 24,000 employees and provides advice and transactional capabilities to clients

in over 100 countries. Marsh Canada Limited has 1,100 colleagues and offices in

13 cities across Canada. Marsh is a unit of Marsh & McLennan Companies (MMC), a global

professional services firm with over 50,000 employees worldwide and annual revenue of

$10 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance

specialist; Mercer, the provider of HR and related financial advice and services; and Oliver

Wyman, the management consultancy.

Accessible, independent, knowledgeable and experienced, we are committed to being proactive

in bringing our clients timely information and advice, and our partners are accessible to our

clients. We provide a team-based approach and dedication to partner or senior professional

involvement and regular client contact—for every client, for every engagement.

Grant Thornton—a leading Canadian accounting and business advisory firm, providing audit,

tax and advisory services to private and public organizations.

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RealNet Canada Inc. is the leading real estate information services company in Canada

powering the decisions of over 28,000 professionals. Founded in 1995, RealNet provides

coverage in both the commercial real estate investment and residential development markets

powering the decisions of firms involved in over 70% of the market activity. RealNet’s

mission is to help clients make better decisions in Real Estate.

In Canada, PwC has sustainability and climate change specialists in every major city across

the country. Our specialists come from a variety of backgrounds which enhances our ability to

address the complexity of climate change challenges. In addition, we have a strategy of teaming

with other service areas of our firm (i.e., tax and accounting) and industry groups, such as our

Real Estate and Engineering & Construction practices, to provide unique and tailored services.

Our Canadian sustainable business services include:

- Advice to Government

- Carbon Assets and Liability Accounting and Disclosure Requirements

- Carbon Transaction Due Diligence

- Chain of Custody/Supply Chain Risk Management

- Climate Change Strategy and Risk Assessment

- Corporate Responsibility Performance Improvement

- Greenhouse Gas Project and Organization Assurance (Verification)

- Greenhouse Gas Data Management and IT Systems

- Greenhouse Gas Project Development

- Emissions Assessments of Technologies and Processes

- Reporting and Assurance of Non-Financial Information

- Tax and SHRED Implications of Climate Change

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One University AvenueSuite 1410Toronto, OntarioCanada M5J 2P1

www. realpac.cainfo@realpac.caT: 416.642.2700F: 416.642.2727