CANADIAN INSTITUTE OF PUBLIC REAL ESTATE …c.ymcdn.com/sites/ · GREETINGS FROM THE GOVERNOR. ......

2011 REALpac Chief Executives Retreat WELCOME TO CHICAGO!

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2011 Keynote Speaker

Scotty Bowman Winningest Coach in NHL History

2011 REALpac Chief Executives Retreat WELCOME TO CHICAGO!

2011 REALpac Chief Executives Retreat GREETINGS FROM THE GOVERNOR

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.


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).


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.


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).


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).


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.

mailto:[email protected]



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.



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)


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”


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



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


DAY THREE TUESDAY, OCTOBER 18, 2011

07:45–

09:00

BREAKFAST Grand Ballroom 1 (4th fl)


09:05–

09:35

PRESENTATION “The Bleeding Edge: A Quick

Look At Some Of The World’s Leading Buildings”


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!

http://www.peninsula.com/Chicago/en/default.aspx#/Chicago/en/

http://www.japonaischicago.com/index2.html

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

hig

an

Av

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http://www.japonaischicago.com/index2.html

http://www.peninsula.com/Chicago/en/default.aspx#/Chicago/en/


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,


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

E: [email protected]

Robert Campanelli M.U.P.

Vice President, Professional Development & Industry Sustainability

T: 416-642-2700 x222

F: 416-642-2727

E: [email protected]

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



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