Profile Magazine - Return On Growth

Special Supplement: League’s Colwood City Centre

®

Return on Growth

I s yo u r B u i l d i n g a G a s G uz z l e r ? | c u r i n g g r e e n b u i l d i n g i n c e n t i v e p r o g r a m pa r a ly s i s

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Welcome to the first issue of 2011. If you have any interest in the real estate industry, then you will truly enjoy reading the latest issue of the magazine. I had the pleasure of interviewing a number of prominent people who specialize in very different areas of real

estate, and learned a lot about many issues that were once beyond my purview.

Take Geoff Suters of Briarlane Property Condominium Management. His story is quite fascinating, as he has been involved in the condominium industry for more than 35 years, and yet he has managed to maintain a low profile, building all of his business through referral. His pedigree is even more fascinating, as his father was instrumental in helping to found the condominium industry in Ontario.

Then there’s Harvey Haber, a commercial leasing lawyer and senior partner with Goldman Sloan Nash & Haber LLP. He has been involved in the industry for more than 40 years, and had a great deal to say about issues faced by landlords and tenants. Besides being an accomplished author and lecturer, his experience as a mediator outside the commercial leasing field truly demonstrates his reputation in the legal profession.

I also learned how a couple of “small” local companies have grown and excelled in their respective fields despite the challenges of the current economy. Both DTZ Barnicke Niagara and S.Suite Property Management have followed their own paths, and used their understanding of the market, to build very successful businesses in their respective markets.

For those of you who have questions about financing (and who doesn’t?), make sure to read the Q&A with Peter Cook and Robert Fleet of First National. They offer a lot of great advice for people interested in borrowing for the purpose of financing properties.

I hope that you enjoy the issue, and get as much out of it as I did.

Best Regards,

David Gargaro

OWNERJuan Malvestitti [email protected]

PUBLISHERMarc L. Côté

EDITORIALDavid Gargaro

DESIGNDouglas Havoc Design

CONTROLLER Florencia Rojas

LEGAL Carla Bracamonte

OFFICE MANAGER Kayla Clark

SUBSCRIPTIONS

Canada: One year $27.00 Elsewhere: $39.00

Single copy sales:Canada $9.00 Elsewhere: $12.00

PROFILE Magazine welcomes letters but accepts no responsibility for unsolicited manuscripts or photographs.

Requests for permission to reprint or publish any portion of this magazine should be addressed to the publisher.

Printed in Canada on recycled paper.

58 La Pinta StreetVaughan, Ontario L6A 3H8416.236.7473www.modernempire.ca

All contents copyright © Modern Empire Inc.

Editor’s Note

Canadian Publications Mail Product Sales Agreement No. 41608530

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8 Profile

THE FEATURES

BRIARLANE CONDOMINIUM PROPERTY MANAGEMENT

12

24 28 32

S.Suite Property Management

DTZ Barnicke niagara Limited

goldman sloan nash & haber LLP

The management of condominium properties is significantly different from that of rental or income property management. It involves working with homeowners who share common property and who, in turn, elect a board of directors to make all of the decisions relating to the operation and administration of their property.

Many first-time investors who purchase real estate for rental income eventually turn to a property manager who can handle the necessary tasks with professionalism and care.

Commercial real estate has suffered during the current economic landscape, yet some companies have continued to grow and prosper.

Commercial leasing is a complex field that involves dealing with different types of properties and managing the varied of interests of both landlords and tenants.

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10 Profile

IN THIS ISSUE

Q&A with peter cook and robert fleet of first nationalPeter and Robert provide borrowers with advice on what they need to do to secure financing.

22

21

34

Curing Green Building Incentive Program Paralysis

IS YOUR BUILDING A GAS GUZZLER?

League’s colwOOD city centre supplement

Colwood City Centre is a multi-phase, mixed-use urban community located in Greater Victoria. It is also part of League’s plan to help its members with developing Intergenerational Wealth™.

Why do millions of dollars in green incentives get left on the table each year? The silo effect is a big part of the problem.

If you have never completed an energy assessment of the buildings you manage, then you need to know the truth about your building’s energy usage.

CERTIFIED.

Congratulations to Briarlane Property Management Inc.,and wishing you much continued success for 2011!

telephone: 905.602.1555 • [email protected]

12 Profile

Tina ChiuCOO

BRAD SMITH GEOFF SUTERS

&

Profile 13

BRAD SMITH GEOFF SUTERS

The management of condominium properties is significantly different from that of rental or income property

management. It involves working with homeowners who share common property and who, in turn, elect a

board of directors to make all of the decisions relating to the operation and administration of their property.

It is the property manager’s daunting task to assist the board in making informed business decisions with respect

to the operation of their property and condominium community.

14 Profile

Geoff Suters is the owner of Briarlane Condominium Property Management Inc., a full-service condominium property management company based in Newmarket, with a portfolio of condominium properties spread throughout the GTA. He started Briarlane Property Management Inc. in 1999 with Brad Smith, which they later divided into separate condominium and rental property divisions. Geoff has more than 35 years of experience in the condominium property management industry. He has chosen to maintain a low profile, devoting much of his time to assisting his condominium clients with the difficult task of managing their properties. It is not surprising that all of his business has been obtained through referral.

Geoff graduated from the University of Guelph with a degree in geography. However, he inherited his interest in property management from his father, H.W. Suters, who was involved in rental housing before he immigrated with

his family to Canada in 1956. Geoff’s father could be viewed as one of the founding fathers of Ontario’s condominium industry. He was involved in developing the province’s rent-geared-to-income program and was one of the founders of the Ontario Housing Corporation in 1964.

Mr. Suters’ goal was to address the acute shortage of affordable housing and land for moderate-income families. It was his belief that land lease, condominium and any other new programs should be developed to encourage home ownership, especially in concentrated urban areas. He also had to find ways, such as the introduction of fluctuating interest rates, to attract more money into the residential mortgage field. The introduction and promotion of these ideas paved the way for the development of condominium housing in Ontario as we know it today.

Geoff entered the condominium management business when he joined Farlinger Developments, which built and managed the Fox Run townhouse condominium in North York. In 1977, Geoff, Brad and their partners launched Highmark Properties, which specialized in rental and commercial property management. Within the following two years, Highmark was

awarded contracts to manage three condominium properties in Richmond Hill, one of which (40 Baif Boulevard) Geoff still manages to this day.

When Geoff sold his interest in Highmark Properties in 1989, the organization had a management portfolio in excess of 27,000 suites, as well as numerous commercial properties. In 1992, the president of a former Highmark client (YCC 444) asked Geoff if he wanted to manage their property again. Geoff agreed and set up a small company with the assistance of three friends, which he ran out of his house. He was later approached by Park Property Management to serve as vice president of its condominium division.

In 1998, Geoff purchased the condominium division from Park Property Management. In February 1999, he established Briarlane Property Management with Brad. As the business grew rapidly, there came a need

for additional office space. Brad and Geoff jointly decided to split the company into the two separate divisions that exist today. Geoff relocated the condominium division to a new office in Newmarket.

Just recently, Geoff’s son-in-law, Alberto Alonso, who recently immigrated to Canada, joined Briarlane to continue the family’s involvement in the condominium industry. He will be taking a senior role in the company’s operation. Alberto’s experience in hotel management and guest services with the Ritz-Carlton, as well as five years in the construction industry in Spain, makes him an important and welcome addition to the organization.

One surprising aspect of the company’s success is that much of Briarlane’s growth has been without the benefit of much advertising. All business has been achieved through referral. Building and condo owners would contact Geoff and Brad when looking for new management; when asked, they would say that they heard about them from existing clients. At present, Geoff manages about 30 properties, all acquired through referral. Briarlane also has high staff and client retention levels. Stability means

Briarlane

“One surprising aspect of the company’s success is that much of

Briarlane’s growth has been without the benefit of much advertising.”

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16 Profile

a lot to clients, which is why most of Briarlane’s initial clients are still with them.

“A lot of property management businesses spend a great deal of time trying to grow their businesses,” explained Brad. “Instead, we take very good care of what we have and that seems to make our companies grow.”

Geoff is a hands-on manager, and is involved in the day-to-day operations of some properties. He also gets involved in a number of special projects. With the recent development of thousands of new condominium units, growth is never a problem. Unfortunately, the growth in new property management talent has not kept pace. It takes time to find managers with the right mixture of personal skills and talents to ensure that his company is represented properly, and that the buildings in his portfolio are managed to the highest degree of care.

“Finding the right property manager is important,” said Geoff. “I’m always looking for bright young people with the right combination of human resources skills and characteristics, because I can teach them the rest. I encourage young people with those talents to get their RCM and CPM designations. I’ll even pay for it when they are successful in achieving their designations.”

Briarlane provides “standard” condominium management services, which can be divided into two categories. The first involves financial administration, including collection of maintenance fees, which are deposited into the appropriate condominium accounts controlled by individual condominium clients. All Ontario condominium corporations must maintain at least two separate bank accounts: an operating account and a specific reserve fund account. The property manager also processes bills for payment, arranges for signing officers to sign cheques and produces monthly financial statements, which the condo board receives in advance of scheduled meetings. The board can also speak to the

accountant or property manager for more information on the building’s financial position.

“We are audited annually by an independent auditor retained by the condominium owners to make sure that we are doing our job properly,” stated Geoff. “We will also draft an annual operating budget and assist the board and consultants in the preparation and review of reserve fund budgets. We also offer PowerPoint budget presentations for the owners, which set out how the operating and reserve fund budgets are developed. This is a very important part of the communication process.”

The second element of the job involves the physical management of the building and property. This includes supervision of building staff, scheduling regular maintenance (from window washing and snow removal to garage cleaning and pest control), and following up on

maintenance programs. Property managers provide the board and owner with information on contracts, get quotations and ensure that they get the best value for the dollar. The property manager is responsible for issues related to the supervision of the building’s corporate staff, as well as scheduling capital projects and dealing with professional consultants and engineers when tendering those projects.

“Briarlane boasts an ideal portfolio of buildings that consistently purchase supplies to ensure the upkeep of their buildings,” stated Mukesh Shanghavi, Vice President, Sales and Marketing, H&S Building Supplies Ltd. “They have a knowledgeable property management team that understands the industry and what it takes to stay competitive with other surrounding apartment buildings.”

The condominium concept creates some interesting challenges for both property managers and condominium boards. The average board comprises a group of people with different backgrounds who are elected by homeowners to manage the condominium corporation’s business

“It takes time to find managers with the right mixture of personal skills and talents to

ensure that ... the buildings in his portfolio are managed to the highest degree of care.”

Briarlane

Profile 17

CONGRATULATIONS BRIARLANE!Landscape maintenance | Landscape design, construction and repair | Snow ploughing and removal

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18 Profile

interests. Although experience in the management of real estate assets is not a prerequisite to being elected to a board, the members are responsible for operating and administering the affairs of a multimillion dollar asset as well as a condominium community.

An effective condominium manager must ensure that decisions made by the board are objective rather than driven by individual personalities and condominium politics. It is well known that condominiums can fall prey to individuals who, when elected to the board, expend their energies on pursuing a personal agenda rather than the best interests of the condominium community.

“This is perhaps one of the more significant weaknesses of the condominium concept and has yet to be addressed effectively,” stated Geoff. “Once again, it is for this reason that the manager requires

extraordinary talents in human relations, and is often called upon to become a referee in disputes.”

The board must understand that all matters pertaining to their property’s management be dealt with at regular board meetings. All decisions are made by a majority of the board members present at a duly constituted meeting. All matters are considered confidential unless agreed upon by all members of the board. Geoff’s condominium clients are asked to abide by a Code of Ethics, which emphasizes standard of care as well as confidentiality and individuals’ right to privacy.

Monthly board meetings are a necessary element of the condominium lifestyle, as this is where issues are discussed and decisions are made. The property manager uses the meeting to keep the condo board up to date on what is happening with the assistance of a well-organized meeting package. The package often includes an agenda, meeting minutes, financial statements and a property management report. The manager also assists the board with organizing annual and special meetings with owners. These meetings play an essential role in the operation of the condominium and provide a forum in which the board can communicate with the owners on matters of mutual interest. In some cases, the property manager may also be called upon to chair these meetings.

Communication is a vital issue for building owners. They want to know what the condo board is doing, and what is happening with building operations. Condo boards often try to achieve this goal by putting out their own newsletters and websites. However, as they are volunteer organizations, these efforts are often short-lived. Briarlane is addressing this issue by launching a website that will provide communication portals for its clients, starting in May 2011. Owners will be able to communicate with their condominium’s board of directors, access financial information, read meeting information and access a library of documents for their building. They can also access forms and manuals, put out newsletters, and keep track of annual and seasonal maintenance.

“Each building owner will have password access to their own site,” added Geoff. “This will be without a doubt revolutionary and the latest

in wise technology, giving condominium boards and owners the ability to stay informed on building issues. The website is being designed to address all of the owners’ communication issues.”

Geoff sees a greater need for more professional property management. The number of condominiums in the Greater Toronto Area is growing, and there is an increasing need for more managers. He also sees a need for tighter industry controls. There is no licensing in place, although the industry is trying to certify people in property management. Current condominium legislation is actually consumer protection legislation. There is very little policing to control the governance of condominium corporations, despite the emphasis placed on directors by the Condominium Act to exercise proper standard of care. This leaves most condo owners with very few options other than retaining the services of their own lawyer should they believe their rights as an owner are being compromised.

Added Brad, “Geoff and I, as well as our management teams, have learned to recognize that the key to effective property management services is not in the size of the management organization, but rather its ability to recognize that each property has its unique characteristics and to deliver its service in a personalized fashion using highly qualified and experienced personnel.” P

“An effective condominium manager must ensure that decisions made by the board are

objective rather than driven by individual personalities and condominium politics.”

Briarlane

Profile 19

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20 Profile

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Colwood City Centre | 3

Many people will tell you that to know League Assets Corp., you have to start with two words coined (and trademarked) by the Victoria-based company’s founding partners, Emanuel Arruda and Adam Gant: Intergenerational Wealth™.

“League is in the business of creating Intergenerational Wealth™ for our Member-Partners,” said Adam Gant, CEO, League Assets Corp. “Our goal is to help our Member-Partners create, preserve and manage wealth across generations. We want to do something different that affects people’s daily lives and creates impact over the long term.”

To create that long-term impact, League provides its more than 2,500 Member-Partner investors with opportunities to invest in commercial and residential real estate properties through syndication, or group ownership. The company provides these investment opportunities through its income-producing IGW Real Estate Investment Trust (REIT) and range of development Limited Partnerships. These investment vehicles form the core of the company’s business.

League’s HistoryLeague has approximately $600 million in assets under management, with a total build-out value of approximately $2 billion. However, the company’s roots are humble ones.Emanuel Arruda and Adam Gant co-founded League in 2005 in a small, shared office in Victoria, BC. It began with the syndication of their first commercial property with a few friends and family members. The concept worked so well they thought, “If we only had more friends, we could make everyone more money,” recalls Emanuel. And with that, he began writing The Blue Book of Real Estate Syndication, a little book with a big message. Now six years and more than 2,500 “friends” later, League manages one of the fastest growing private Real Estate Investment Trusts in North America.

From the start, one of their main goals was to provide long-term investment opportunities in commercial real estate for the middle-class Canadian investor. They wanted to better society through the development of Intergenerational Wealth™, which involves the creation of long-term wealth for future generations of their Member-Partner investors’ families. It was based on the belief that if one didn’t have to spend so much time trading their time for money, at a job they wouldn’t want to do otherwise, League’s Member-Partners could spend more time being better parents, grandparents, parishioners and community members.

“Not only are they Members in League,” said Emanuel, referring to the company’s unique term for its investors, “but because our intentions and goals are aligned with theirs, they are also our partners. So we’re all Member-Partners.”

Adam was an entrepreneur and a private real estate investor before he met his partner. Emanuel was a marketing professional who had run his own company in Toronto before arriving in Victoria. They soon found that their apparently divergent skill sets were a perfect match for one another.

“I was sure about Adam when I met him,” said Emanuel. “We talked about real estate syndication and business opportunities, and creating lasting wealth. But more importantly, we shared the same ethics and ideals.”

Recounts Adam, “Through his creation of League’s Credo, which everyone agrees to before they join the company in any investment, Manny helped crystallize the vision of what we stand for. We wouldn’t be the same company without it.”

The two partners built their real estate investment business by buying and renovating distressed properties. In the two years following incorporation, League purchased more than $200 million of real estate on behalf of their Member-Partners (without equity from investment brokers or outside investment banks). The model

LEAGUE ASSETS INC.

4 | Colwood City Centre

was to improve older spaces with renovations to attract higher-paying tenants. This, in turn, made the location more desirable for future tenants who would later sign on at even higher rates.

One such example was Tyee Plaza in Campbell River (on Vancouver Island), which they purchased in June 2007 for about $14 million. After rejuvenating the plaza, League brought in Shoppers Drug Mart as an anchor tenant, which helped to increase the value of the property to $21 million in just 18 months.

“We’ve been involved with League since they purchased Duncan Mall and Duncan Plaza (in Duncan, BC) in 2008, which we were managing at the time for the previous ownership,” said Bruce Russell, President, Gulf Pacific Group. “It gave them an opportunity to gauge our services, and has led to agreements to manage their other properties. We are pleased to grow with League, and are appreciative of the fact that they are a company that does not stand still.”

Creating Intergenerational Wealth™Early on their partnership, both men arrived at League’s central philosophy of Intergenerational Wealth™.

“Intergenerational Wealth™ is about helping our members create wealth, not just managing it,” said Adam. “We want to do something different — something that has a greater impact than just generating returns. We want to help people create sustainable levels of wealth.”

You can view Intergenerational Wealth™ in three ways. First, it is a lifestyle that consists of creating wealth, as opposed to simply consuming wealth. Second, it involves sustaining a level of existence through the management of family wealth. Third, it is a discipline that combines sound ethical practices; purpose-driven financial knowledge, training and practices; legal, accounting and economic frameworks; the perpetuation of the family’s values, traditions and wisdom; and life-defining, perspective-shaping experiences. The end result is the creation, preservation and transfer of a family’s wealth of capital, knowledge, traditions and values.

Intergenerational Wealth™ involves reaching past one’s own lifetime to improve the lives of those who come after, which is what makes one’s lives meaningful. League’s goal is to empower the families of its Member-Partners by providing Intergenerational Wealth™ so that they can improve the quality of their lives and improve the quality of the lives of others.

“The main goal of the whole process,” said Emanuel, “is to help Member-Partners improve their quality of life through Intergenerational Wealth™. In simple terms, Intergenerational Wealth™ frees a person up so they can accomplish their highest, best good.”

Setting the FoundationA key part of League’s success to date in providing Intergenerational Wealth™ for its Member-Partner investors is its diverse range of investment products. It begins with the IGW REIT, which allows people to invest in a broadly based pool of multifamily residential, light industrial, commercial and office properties across Canada. Depending on their investment needs, investors can select from either traditional REIT units (for cash flow plus growth potential) or REIT-based Income Priority Units (a cash flow only investment) that provides a fixed return paid monthly over a variety of terms.

Member-Partners can also select from various development Limited Partnerships, including Colwood City Centre (see below) and projects investing in solar energy generation. The company also manages, on behalf of its Member-Partners, the IGW Mortgage Investment Corporation, which invests in a pool of mortgages, rather than directly in real estate as do REITs. The company’s latest fund is the Member Partners’ Solar Energy LP, which will draw an income stream at a rate guaranteed by Ontario’s Feed-In-Tariff (FIT) program for up to 20 years.

The concept of syndicated real estate—ownership of a single property or a pool of properties by a group of people—is not a new one. However, there is much more to League than just this

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business. The company’s mission is to effect long-term change and to establish Intergenerational Wealth™, and they intend to accomplish these goals by following ethical and moral standards.

“We think of our Member-Partners as family, and we want to help them to help their families benefit,” said Emanuel. “We want them to think differently about estates, so that they can make it, keep it, live off it and then transfer it.”

The Credo and The Blue BookAlmost as soon as League was established, Emanuel took stock of the situation, secluded himself in his vintage motor home for 40 days and returned with a draft of the 21 tenets of the company’s Credo. It set out publicly how the company and its employees would operate legally, morally and ethically—even in private. These guidelines set out what Emanuel wanted the business to achieve, as well as what was to be avoided. Adam read the Credo and agreed with the tenets, and both founders signed the Credo to cement their business relationship and the terms by which they would achieve their goals.

“I think it was at that moment that Manny showed me the Credo and we signed it together that I knew we had something remarkably different,” said Adam.

The Credo covers all aspects of League’s operations and its principles assure League’s accountability to its Member-Partners and the communities in which they operate. The first tenet of the Credo, and perhaps most telling, is based on the “golden rule:” “We will do for others as we would have them do for us.”

As important as the Credo is The Blue Book of Real Estate Syndication (simply referred to as The Blue Book). Emanuel wrote the book to outline the basic principles of investing in Canadian REITs, as it explains fundamental information about the company and its investments, its ethical standards, League values and more. Before an investor can join League as a Member-Partner, he or she must read The Blue Book and then speak to a Member Service Manager (MSM) to demonstrate that they understand it. Once it has been ensured that they actually understand the investment, he or she can choose an investment in which to subscribe.

“We don’t have ‘traditional, hard-nosed’ salespeople,” explained Emanuel. “We’re looking for like-minded Member-Partners, so our process is to filter people out, not ‘drag net’ them in. Nobody is ‘sold’ a League investment.”

Commitment to AccountabilityQuarterly revaluations of the properties within the IGW REIT are carried out under the auspices of a third party, Colliers Realty Services. Colliers reassesses all the properties semi-annually to arrive at the REIT’s Net Asset Value, and then takes the final step of determining the value of a single REIT Unit. This independent process assures Member-Partners that their investments are independently and accurately priced.

In 2010, another independent organization, Calgary-based ExemptAnalyst, rated both the traditional IGW REIT Units and fixed-term Income Priority Units as “investment grade,” with ratings of STA-2 and BBB, respectively. In 2011, ExemptAnalyst analyzed League’s IGW REIT and the offerings of 32 other Asset Managers offering real estate securities in Canada’s exempt market. League’s IGW REIT was rated first, having the lowest fees of any of its peers.

Hand in glove with this transparency are three strongly connected elements of League’s commitment to accountability. To protect Member-Partners against fraud or other wrongful acts committed by League executives or employees (above and beyond protection offered by security regulations), the company’s insurance broker, Aon Reed Stenhouse, provides a $10 million Executive Liability policy and a $5 million Employee Fidelity policy.

“We want to make sure that Member-Partners can ‘see the gears’ in the machine,” explained Emanuel. “We want them to understand that the company, and the returns we provide, are not too good to be true. People tend to take time to allow trust to build.”

In conjunction with the Credo is the League Investment Guarantee, which is tied to the tenth tenet of the Credo: “We believe that League’s compensation should be linked to results.” The goal is to create additional value for investors, as it is in the interests of League owners. One of the key elements aspects of the guarantee is that League takes 20% of the increase in the value of the property, as opposed to 20% of the entire investment.

Indeed, once they come through the building’s main doors, visitors to League’s Victoria corporate offices are greeted by


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a large Coat of Arms, granted to the company in 2007 by the Heraldic Authority of Canada under the auspices of the Governor General of Canada.

“Each element in the Coat of Arms embodies an aspect specific to League,” said Emanuel. “The crest conveys League’s commitment to security and strength while symbolizing principles put in place by Adam and myself to protect investors and their investments.”

The motto on the Coat of Arms sets the tone for the owners’ way of thinking and acting: “My word is my bond; My honour is my glory.”

Leading by ExampleAs part of its commitment to social responsibility and promoting the development of Intergenerational Wealth™, League supports causes that have worldwide impact. In December 2008, it created the League Charitable Foundation, which is a donor-advised pool of funds that is donated to several charitable causes. Its main goal is to address homelessness and poverty around the world. The foundation was announced in conjunction with a gift of $200,000 to the Greater Victoria Housing Society, which provides affordable rental housing for seniors, families and persons with disabilities.

The League Charitable Foundation invites donations from Member-Partners, issues tax receipts and forwards the funds to other charities as directed by the donors. The donor-advised fund provides an alternative to direct giving or creating a private foundation. Donors receive the benefit of administrative convenience and tax advantages by directing their donations through the fund. League donates the time of its staff, so there are no administration fees and 100% of donations go to where they are intended. Member-Partners are able to give more as part of their commitment to creating Intergenerational Wealth™. League also donates 5% of its bottom line to the foundation each year.

Through the foundation, League assists a number of charitable organizations, such as Absolute Leadership, a nonprofit organization based upon a sustainable operations model. The organization leverages the “sweat equity” of human capital, as well as donated building materials and tools, to build houses and facilities in Third World countries. In conjunction with Home Depot and WestJet, League supports Absolute’s Hero Holidays program, which enables Canadian teens to travel to developing nations where they build homes, schools and clinics, lead playgroups and comfort orphans, and become involved in other life-changing experiences.

Most recently, League pledged $40,000 to the BC Cancer Society, which is based in Victoria. “Many of our own staff and Member-Partners have friends and loved ones affected by cancer, so this particular cause strikes a chord in all of us,” said Adam. “We’re proud to support the BC Cancer Foundation in their goal to provide innovative cancer research and improved support for patients and families in our community.”

Colwood City CentreOne of League’s defining projects is Colwood City Centre, a multi-phase, mixed-use urban community located in the western communities of Greater Victoria. Rising on 14 acres of land in the City of Colwood, near the Island Highway, the property is surrounded by the Royal Roads University and its protected forest lands, the Royal Colwood Golf and Country Club, the Juan de Fuca Recreation Centre, and the Galloping Goose Regional Trail. It is also in close proximity to the Colwood Lagoon and will provide residents scenic views of the Pacific Ocean.

“It’s our flagship development project,” said Adam. “As we build it out over the next 15 to 20 years, I think people will be truly impressed by what they see.”

Colwood City Centre consists of 3.8 million square feet of mixed-use space, making it one of the largest projects of its kind in Canada. The community will feature up to 11 residential towers ranging in height from 24 to 29 storeys, several 4-storey wood-frame residential buildings above retail stores, 2-storey townhomes, four 5-storey office buildings, big-box retail, a hotel and a “village core” that features restaurants, hotels, shops, services and open space. All of these buildings will be integrated at the ground level with a horizontal “main street” pedestrian focus.

“We’ve been managing the existing retail properties in Colwood, and will continue to manage the new properties as they are completed,” said Bruce. “We are very pleased to be affiliated with League on this project, as we want to be a part of its growth. They’ve done an excellent job in increasing the value of their real estate purchases through professional planning and execution.”

Colwood’s novel approach will see the majority of parking for business and residential purposes placed underground, while some ground-level parking spaces will also be provided within the “village core.” Buildings will be built with strict smart growth standards, with LEED (Leadership in Energy and Environmental Design) certification in mind, as well as to 2010 seismic standards. About half of the structures will feature “green” roofs.

“We’re planning for the redevelopment of an existing shopping plaza that we currently own and operate, into a new sustainable


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urban centre that will have residential, retail, office and public areas,” explained George Kallergis, League Assets Corp., Vice President, Residential Development. “We believe the mix of uses will promote a vibrant lifestyle for its future residents, tenants and visitors and, at the same time, will give the City of Colwood a sophisticated new image and sense of identity.”

The project began in January 2007 following the acquisition of 16 titles to amass the 14 acres of land for the site. Zoning for Colwood City Centre began in spring 2008. The first phase of construction is slotted to begin during the summer of 2011. The initial launch was successful, as League had a pre-sell target of 40 units, and they sold 20 units on the first day alone.

Due to the size of the Colwood City Centre development, League can also offer an enhanced residential amenity package. As each new residential building is developed, a new amenity will be made available to all residents of the community. Each building would have its own amenity (e.g., fitness centre, rooftop garden, barbeque deck, swimming pool, social lounge, art studio, learning centre) that would be made available to all residents. League can also negotiate exclusive discounts and incentives to residents within our community by structuring special programs with retailers and restaurants within the “village core.”

“An undertaking of this size and calibre naturally requires a vision that looks even beyond our current market and through complete real estate cycles,” said George. “Our focus has been on mitigating risk by building only what the market can absorb, limiting our exposure, while at the same time capitalizing on existing opportunities.”

League offers two ways for people to take that all-important first step. The first is the Preferred Purchaser Program, where during the pre-sales phase, early-bird condominium purchasers and existing Member-Partners will be eligible for residential unit discounts, priority selection of condominium units and other benefits that will be announced prior to launch.

The second way that League enables people to own residential condominium units, either for living in or as investment properties, faster than normally possible is through the company’s unique Equity Partnership Program.

The Equity Partnership Program differs from conventional debt-based mortgages programs. Instead of making a monthly payment on the collateral mortgage granted as part of the payment, equity partnership financing is paid for by the equity build-up from the first mortgage principal repayment and the appreciation of the property’s value over time.

“Our goal is to help as many people as possible to own property,” said Adam. “We want to help lifelong renters become owners by providing ways for them to buy in. We provide down payment financing, and lower down payment options.”

By working with the Colwood City Centre Limited Partnership, homebuyers can use a portion of the value of their home’s purchase price for the down payment and then pair it with a mortgage. The

homebuyer pays their share of the down payment based on their financial carrying capacity, with League providing the rest. Monthly payments are still required on the mortgage, but not on the equity portion provided by the Partnership. The Partnership will be paid when the buyer sells or refinances the property.

“Ensuring that the doors are kept open for residential ownership is also key to our belief that only through the acquisition and ownership of real estate can you start on your way to Intergenerational Wealth™,” said Emanuel.

Working with the Equity Partnership allows potential homebuyers to enter the real estate market sooner and start building wealth instead of paying rent. The Equity Partnership also helps real estate investors, as they get to keep the full amount of monthly rents without having to share the rent return. By accessing the equity financing fund, homebuyers and investors can avoid paying the mortgage insurance premium, which is worth from 1.5 to 3 per cent of the first mortgage. Providing access to this fund helps both groups of purchasers to save money.

“Colwood City Centre is a fantastic investment project, as it a great commercial asset to hold for a long time,” stated Adam. “It provides significant exposure to a city centre asset class, and it will become a nucleus of economic activity through shopping, office buildings and residential properties.”

The Future of LeagueLeague plans to continue expanding its message of the importance of developing Intergenerational Wealth™. Over the next ten years, the company wants to continue recruiting Member-Partners, with the eventual target of establishing a worldwide base.

“Our goal is to continue to provide investors with better access to real estate investments and create ways for them to build Intergenerational Wealth™,” said Emanuel.

One such way to provide for future wealth is to turn to new areas for the League’s Member-Partners to invest in. Recently, League launched its Member-Partners Solar Energy Limited Partnership that invests through a wholly-owned operating partnership in the installation of rooftop mounted photovoltaic solar panels in Ontario to generate electricity. The Government of Ontario has instituted a Feed-in-Tariff (FIT) program that guarantees to buy the power at a fixed price per kilowatt-hour for 20 years; the Limited Partnership expects to be awarded FIT contracts to supply electricity from its solar projects.

“We’re very excited by this new project,” said Adam. “Our Member-Partner investors have been asking us for an opportunity to invest in renewable energy, so we’re glad to oblige. This investment offering reflects where we want to take League in the future. We want to lead the way in performance, but we also want to improve the world and change things so as to improve people’s lives.

“We’re off to a good start,” added Emanuel, “but we still have a lot of work ahead of us.”


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Profile 21

In agriculture, silos are separate, vertical compartments that are used to store grain securely and prevent cross-contamination. In the business world, silos are systemic barriers to communication. When the silo effect is present, critical data is hoarded and information sharing stops. The building industry is prime territory for information silos. Why do millions of dollars in green incentives get left on the table each year? Well, it’s true that many incentive programs are not as effective as they should be. But it’s also true that the silo effect is a big part of the problem.

Owners employ a steady stream of outside professionals who routinely gather and then discard information – information that is immensely valuable to building owners. One person, for example, may take extensive floor measurements to calculate how much carpet needs to be installed. Then a designer takes the same measurements to come up with a floor plan, and an HVAC contractor takes his own measurements to determine how much space needs to be heated.

The HVAC contractor may not know that the lights are about to be completely replaced by a lighting contractor, which could have a significant impact on heating and cooling requirements. A retrofitter needs accurate information but realizes that the architectural blueprints are obsolete and don’t match the as-built structure. He gathers new measurements that have great value, but are never shared with the owner or archived by building managers.

Building owners may be desperately looking for ways to lower costs and bolster revenues, but many of them continue to walk away from essentially free funding for green initiatives from governments and utilities. Ask them why and most will explain that they were just too exasperated by the amount of work involved in gathering the data required to apply for these grants, incentives and rebate programs.

Technology to Combat the Silo Effect

What these owners lack is control and organization of building information. Architectural technology has advanced exponentially within recent years, but many building owners cannot take advantage of it because they are using obsolete tools.

Relying exclusively upon e-mails and memos, for instance, to manage complex building projects today is like trying to run an office with typewriters and fax machines instead of computers. Owners need to have instant access to and control of information through a flexible and interactive platform, such as Building Information Modeling (BIM) software.

BIM is a user-friendly but sophisticated and centralized building database that can be accessed through multiple interfaces. With BIM it’s

easy to get the information that is needed, while simultaneously adding fresh information to the databank from numerous sources. It acts as a common file for all participants to view, study and interact with for the duration of a project and the lifetime of the building.

Once created, the model can be used for everything from floor plan designs, energy studies, asset management and retrofits to the in-house creation of digitized virtual sales and marketing tours. BIM technology is a powerful and permanent silo breaker and facilitator of active collaboration.

Motivating Performance with Irresistible Incentives

Of course, technological solutions alone are not enough to break down data silos and promote the productive sharing of information. If you want people to act differently, you have to remove their motivation for perpetuating the status quo and replace it with better reasons to do something new.

To begin with, building owners can stipulate that all projects are to be done using the BIM platform, and they can specify mandates for cooperative participation in all bid contracts. Contractors also reap rewards in this scenario, as having access to BIM makes it much easier for them to generate accurate and persuasive bid proposals. Additionally, BIM offers more potential for smaller players to team up and compete for larger and more lucrative contracts.

But the biggest incentives are attractive project opportunities and money. These increase when logjams related to data gathering are no longer impeding the flow of financial resources from programs like those offered by the Ontario Power Authority and the BOMA ECAP Program.

By providing more credible data, professional plans and quantifiable predictions of energy savings, BIM technology also makes it much easier to compile and present convincing applications for grant money and rebate programs. With that kind of power, the industry can stop storing innovations in silos and begin depositing the fruits of collaborative success in bank vaults where they belong. P

Michael Laurie, P.Eng., is President of PLANiT Measuring, which provides onsite building measuring and BIM services. He can be reached at [email protected] or 1-800-933-5136.

Curing Green Building Incentive Program ParalysisBy Michael Laurie, P.Eng.

22 Profile22 Profile

Industry LeadersIndustry Leaders

Q&APeter Cook, Assistant Vice President of Commercial Lending, and Robert Fleet, Manager of Business Development, are financing specialists with First National, CMHC’s largest multi-family lender in Canada. Together they have more than 27 years of financing experience. Their seven-member team is responsible for originating, underwriting and funding multi-residential and commercial loans. Their in-depth understanding of the mortgage industry has led to frequent speaking engagements across Canada. Peter and Robert freely share their knowledge and advice with audiences, clients and prospective clients.

By Michael Manzoni

Peter Cook and Robert Fleet

Profile 23

Q – What advice would you give to borrowers to help them secure financing?

A – Borrowers should be cautious about who they choose as a lender. The fundamental element borrowers should consider most carefully is the reputation of the institution in the multi-family industry and the experience of the individual managing the file. If the lender doesn’t start the conversation by discussing the borrower’s business plan, with specific questions about their long-term and short-term goals, then it should raise a red flag. We recommend the borrower choose a lender that specializes in their specific type of financing. You don’t want to deal with an inexperienced person recently transferred from another department.

Q – Does this apply to all borrowers?

A – Yes. Whether you’re a small landlord or a large institutional borrower, avoid using a lender based solely on convenience and familiarity. Don’t choose a lender just because they’re across the street or exclusively on interest rate. Instead, do your homework and work closely with an experienced lending institution and one of their financing specialists even if they are several provinces away. Borrowers stand to gain a huge advantage. They can still get a competitive interest rate with the added value of a strategic partner who has long-term experience in the multi-residential industry.

Q – What’s the number one frustration that borrowers face when financing properties?

A – It might surprise you to find that it’s the long, drawn out approval process that annoys borrowers the most. The financial crisis has brought about requirements for a higher level of scrutiny in the lending industry, requiring additional borrower information, more sets of eyes and multiple signatures to approve a mortgage. Now, more than ever, multi-departmental institutions are frustrating borrowers with last-minute changes, reports, addendums and surprises that could delay or prevent closing. The last thing a borrower wants is red tape and stress.

Q – So, how can a borrower avoid the bureaucracy?

A – Every lender has a different approval process. The borrower should ask how long the process will take and how many credit reviews are required to approve their loan. They should also ask how quickly they can expect a letter of interest, a commitment letter and at what point they may lock in their rate in advance of funding. These are important questions to ask prior to selecting a lender.

Q – What can borrowers do to minimize their risk?

A – One of the biggest uncertainties is the direction of interest rates. A borrower should inquire if their lender is willing to lock their interest rate a minimum of 90 days prior to closing. Some lenders won’t allow rate lock until five days prior to funding. In a rising interest rate market, this limitation could cost a borrower thousands of dollars. Ask the lender to disclose details of when the interest rate can be locked in and if additional fees apply. Another way to minimize risk is to limit one’s personal

guarantee. By insuring the mortgage through CMHC, borrowers can also limit their exposure. Depending upon the loan-to-value percentage, the personal guarantee can range from zero to 50% of the loan amount.

Q – What can you suggest to help borrowers save money?

A – Every borrower must consider their “total cost of borrowing” when choosing a lender. The cost of third-party reports, such as appraisals, environmental, engineering and structural, along with lenders’ processing fees may vary by thousands of dollars depending on the lender. Borrowers should request their lender provide them with three quotes from approved third-party firms and disclose all processing and closing fees. The lender’s legal fees should also be taken into consideration. Request the lender provide more than one legal quotation and advise whether title insurance is required. Some lenders will permit borrowers to close with title insurance allowing the borrower’s lawyer to close on behalf of both the borrower and lender, saving thousands in legal fees.

Q – How can borrowers maximize their return on equity?

A – A borrower can finance up to 85% of the property’s lending value with a CMHC-insured mortgage. They may also be able to extend the amortization period to 35 years or secure a longer-term mortgage. This strategy will improve the debt coverage ratio and may result in a further increase in the loan amount. Also, if acquiring a new property, they might consider leveraging beyond 85% by obtaining a vendor take-back mortgage or securing a second mortgage. The lender should be able to offer conventional or CMHC second mortgages at competitive interest rates.

Q – What should a borrower do to obtain the lowest possible interest rate?

A – They should insure their mortgage through CMHC. A CMHC insured mortgage will provide them with a substantially lower interest rate. Depending upon the loan size, the borrower could save tens of thousands of dollars in interest over the life of the mortgage. However, the lowest interest rate on its own is not the most important thing. The focus should be on the total cost of borrowing as outlined above and how the lender’s process may impact your overall cost.

Q – What’s the most important piece of advice you can offer to borrowers?

A – Build a strong relationship with an experienced commercial lender. Find a person who will share their long-term experience and is willing to do more than just quote a competitive interest rate. Test their knowledge and willingness to work in your best interest against the information we provided here. Remember that a few basis points saved on your interest rate can cost you dearly if coupled with the wrong advice.

For more information on any of the discussed topics, or to find out more about financing, direct your questions to Peter Cook or Robert Fleet at 1-800-465-0039.


Industry Leaders

Many first-time investors who purchase real estate for rental income are surprised by the amount of work involved. They come in with the belief that it involves picking up cheques

and making minor repairs. Property management also involves managing people, which makes the process more time consuming. At this point, the investor often turns to a property manager who can handle the necessary tasks with professionalism and care.

Roxane Bernhard is the owner of S.Suite Property Management Inc., a full-service residential, condominium and commercial property management company. She has more than 15 years of experience in the industry, having worked with property managers and industry leasing professionals throughout Canada and the US. She has written and lectured on various topics related to the industry.

Roxane graduated from the University of Toronto with a degree in criminology and sociology. She worked for several years with a private investigation firm on automobile insurance and disability claims. She then joined a consulting firm as a mystery shopper for apartment buildings. She would act as the renter, going through the rental process, and provide a

report for the owner on how it could be improved to better position the property for prospective renters.

Roxane then became a mystery shopper with DALA, an apartment marketing and leasing company. She later took over the contract leasing department, and helped to develop the company’s market analysis and financing plan. Roxane also ran seminars and trained leasing professionals across Canada and the US.

“Working as a leasing professional in the US was a great experience,” said Roxane. “Higher vacancy rates in the US have made leasing professionals more savvy and creative. They treat renters like clients, and not just a means to an end.”

Roxane then joined MetCap Living Management as a portfolio manager. She was responsible for the leasing and marketing department, which managed 8,000 rental units across the GTA. She left the company upon the birth of her first child. During maternity leave, she earned her RCM designation, and began working with M.F. Property Management, a condominium management company. MetCap also hired her to manage a property in St. Catharines.

Roxane bernhard

26 Profile

With the birth of her second child, Roxane left both companies and started S.Suite Property Management Inc. At the time, it was just a website that served to establish the company’s brand and foundation. She wanted the website to explain what her business would be about. The company’s mission statement stated: “It is our mission to provide proactive property management. A service which not only enhances our clients’ real estate, but fully recognizes our clients’ needs.”

The website and marketing paid off, as S.Suite Property Management attracted a number of first-time investors. They wanted to be hands-off with respect to their investment properties. Roxane would often take her second child with her to show buildings to potential investors, which endeared her to new clients. They liked the fact that she was juggling family dynamics.

S.Suite Property Management began with a 12-unit building, and then started to grow. Roxane attracted investors who were growing in their businesses. They were looking for someone they could trust to look over their investment, as they often travelled outside the country. Roxane worked her way up to managing larger buildings, using what she learned with smaller buildings to build property management systems and protocols.

S.Suite Property Management is a full-service property management company, where each employee is an accredited professional in the property management industry. The company focuses on multi-unit residential, single-family residential, condominiums and commercial properties. They provide complete tenant services, accounting, marketing, maintenance, capital improvement and more.

One key element of the S.Suite brand is the Street to Suite concept. Roxane’s team works to capitalize on the first thing that tenants see by enhancing curb appeal. They look at each property from the prospect’s point of view, making sure that signage is easy to see and the property is easy to access. They make it more inviting to enter the building, as well as ensuring that the entire process is tenant friendly.

“The Street to Suite concept is about getting the potential tenant to come inside,” said Roxane. “Once they are through the door, it’s much easier to get the deal done. It begins with looking at the experience from the prospect’s point of view.”

Client care is the focus of the S.Suite Property Management platform. They make sure that they are available to all clients. On the tenant side,

the company employs a maintenance tracking system that ensures they follow up on requests in a timely fashion. Tenants have 24/7 access to a line for complaints or issues. The leasing team is user friendly, always making time for people to view units.

Owners are provided with floating maintenance and leasing personnel. This ensures that investors with smaller buildings get the same level of service as those with dedicated personnel. S.Suite makes it a point to be hands-on and knowledgeable about issues for different properties, reporting to owners on issues regularly. Owners of smaller buildings can use the company’s resources to get better rates and response times from service providers.

S.Suite is responsible for mostly multi-unit residential properties. One reason is Roxane’s passion for leasing and finding people their next home. They also have greater control over decisions related to unit care. To help with the transition, each tenant receives a welcome package that outlines their rights and responsibilities, such as trash placement, housekeeping rules, maintenance and more.

“It’s all about making living in a multi-unit building more enjoyable,” explained Roxane. “Each building also receives a resident newsletter, which helps to make them feel more like part of the community.”

Roxane sees consistency and service as two key components of S.Suite’s success. Her goal is to provide a consistent level of service to her clients. Being on the same page as her clients is important, and there can be issues when owners want to operate a building at a different level of service. She has had to drop a client when they have been either unwilling or unable to maintain a certain level of care.

Roxane sees plenty of room for growth for S.Suite, as there are always buildings being bought and sold. Current market conditions have made real estate investment a popular means of wealth growth. Condominium management is often the first point of new growth, as condos are eventually converted into rental units. New investors tend to dabble in property management before hiring a professional.

“Managing an investment is a lot of work,” explained Roxane. “There is also the emotional aspect of property management. Many investors find it difficult to separate the personal from the professional. When you put money into something, it’s hard to step back and separate yourself from it.” P

“The Street to Suite concept is about getting the potential tenant to come inside

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The current economic landscape has been a challenge for many organizations. Commercial real estate has not escaped the fallout, as companies that would normally purchase new properties have

either closed or delayed making acquisitions. Yet through these unstable times, some companies have continued to grow and prosper. What is the secret to these companies’ ability to not only survive but expand?

Todd Crawford and Taylor Wilson are co-owners of DTZ Barnicke Niagara Limited, a full-service commercial real estate brokerage that specializes in sales, leasing and valuation of commercial properties within the Niagara Region. The company has been involved in more than $1 billion in sales, leases and valuations. They also specialize in appraising and selling golf courses, hotel and resort properties, and retirement homes and lifestyle communities.

In late 2004, Todd and Taylor formed a partnership with the purchase of J.J. Barnicke Niagara Limited. At the time, this Niagara affiliate was a two-person, high-end, boutique commercial real estate sales and leasing company. They recognized the potential of this brand in the Niagara Region. As of 2011, their office has 26 associates, which includes brokers, appraisers, property mangers and administration. The firm manages more than 20 commercial properties, and three of these properties are part of their investment syndicate.

Joseph John (J.J.) Barnicke founded J.J. Barnicke Limited in 1959. The company provides a range of brokerage services and value-added business advice in commercial real estate to leading international corporations, institutions and portfolio owners across Canada. The firm has 20 full-service offices across Canada with 500 employees, including more than 300 sales professionals. Operating in all major real estate sectors, including office, industrial, investment, retail, hospitality and corporate services, Barnicke acts as a broker to service tenants, developers, owners, investors, governments and landlords. In 2007, J.J. Barnicke was rebranded as DTZ Barnicke.

In 1992, at the age of 18, Todd received his real estate broker’s license. While selling residential real estate during the day, he worked on getting his degree in Economics from Brock University. As one of the youngest members of the Niagara Region Real Estate Board, Todd developed a solid reputation as a residential real estate broker. Through his exposure to other real estate professionals, he developed the desire to branch into other areas.

“I wanted to get into commercial real estate,” said Todd. “However, I was told that, due to my age, I would not be taken seriously as a commercial real estate agent. That’s when I decided to pursue real estate appraisal.”

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While working as a real estate broker, Todd graduated from the UBC Real Estate Appraisal Graduate Program. He later acquired his Canadian Residential Appraiser (CRA), followed by the Accredited Appraiser Canadian Institute (AACI) designation from the Appraisal Institute of Canada.

After Todd and Taylor purchased the firm, they added appraisal and consulting services to the existing brokerage services. This addition was a key element in the company’s foundation and growth. Currently, DTZ Barnicke Niagara employs six people who focus on valuation and consulting, covering most areas of Ontario.

While experience plays a vital role in the appraisal process, information is king. Having access to the most up-to-date market information is integral to ensuring the accuracy of property valuation. DTZ Barnicke Niagara’s ability to access precise and current market data gives the firm a distinct edge, resulting in the creation of higher quality valuation reports for clients. The company combines its brokerage and appraisal services to give it an edge over the competition. Access to both networks means better quality data and more contacts. The firm is also open to changes in technology that could improve data quality and access, which are both essential for gaining the edge in the marketplace.

“One of the keys to appraisal is getting the best information,” said Todd. “The goal is to have complete information. It’s never 100% complete, as the market is always changing. Finding that sweet spot in market value is the challenge. Knowing that you are closer to the sweet spot than others gives you the edge.”

Taylor graduated from Brock University in the Urban and Environmental Studies/Human Geography program. He has more than 20 years of commercial real estate experience, first starting out in his father’s brokerage office. Taylor specializes in the sale of investment real estate, office leasing, property repositioning and distressed sales. His strengths include client/tenant negotiations, finding the proper solution for clients and identifying hazards at the commencement of negotiations.

“Collectively, our team offers more than 170 years of commercial real estate experience,” Taylor added. “My expertise extends beyond my years as a professional when we collectively serve our the clients.”

Property management is a more recent addition to the DTZ Barnicke Niagara portfolio. It is responsible for the company’s recent growth, as they manage more than a million square feet of real estate. They’ve made it a key facet of their growth strategy, as it enables them to tend to investors’ needs and build upon their leasing arrangements. With their background in commercial real estate, they focus on managing commercial plazas and professional office buildings, as well as industrial units. They have several long-time clients and have not lost a property since becoming property managers.

“We focus on tenant and partner relationships, as well as good owner relations,” said Taylor. “We train our people differently, making sure that we take great care of the people we tend to. We also provide day-to-day servicing.”

DTZ Barnicke Niagara provides a range of services that are related to the core business of commercial real estate sales, valuation and property management. Real estate marketing involves packaging a site for new development, such as creating concepts and designs, branding for the building, and helping with leases and sales. Market rent analysis helps tenants to determine fair market rent, and provides them with the information to take on landlords who charge more than market rate.

Taylor and Todd are believers in real estate investing. The long-term stability of properly managed income properties can create long-term growth. They formed T & T Properties, which partners tenants with large property purchases that would not normally be possible. Since its creation, the company has acquired three professional office properties. This is a key growth factor, as most tenants would like to own their property, but cannot afford to do so without assistance.

Added Taylor, “These new real estate partner-owners have the ability to tap into several years of real estate experience in our firm, which should offer greater returns in the future.” P

Taylor Wilson

DTZ Barnicke Niagara

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Enerpro_Profile_Spring11.indd 1 3/14/11 11:32:14 PM

32 Profile

Commercial leasing is a complex field that covers different categories of properties, each with its own characteristics. Landlords and tenants—the key parties on opposite sides of the commercial

leasing relationship—have particular interests and points of view. The ability to successfully manage these varied interests requires detailed knowledge of, and extensive experience within, commercial leasing.

Harvey M. Haber, QC, JD, LSM, DSA, CMed, CArb, BA is one of the foremost experts in the field of commercial leasing, backed by more than 40 years of experience. He is a senior partner with Goldman Sloan Nash & Haber LLP, a nationally recognized law firm based in Toronto. He has written and edited numerous commercial leasing books and articles, and has also lectured across Canada and the US on a wide range of related commercial leasing topics. Harvey is a well-renowned mediator and arbitrator, and is experienced in alternative dispute resolution. He has also received several prestigious awards in recognition of his contributions to the legal profession and the field of commercial leasing.

Harvey graduated with a BA from the University of Toronto, and then graduated from Osgoode Hall Law School (LLB, now JD), after which he was called to the Ontario Bar. He was subsequently appointed as a

Queen’s Counsel by the Province of Ontario. After being called to the Bar, Harvey became a partner in the law firm Greening & Haber. His commercial leasing career truly began when he became corporate counsel for Trizec Equities Ltd, a property development company. One of his key responsibilities included Yorkdale Shopping Centre, one of Trizec’s key holdings, which opened as Canada’s largest shopping centre at the time.

“One of my earliest challenges as in-house counsel at Trizec was dealing with a tenant in Yorkdale that did not pay its first month’s rent,” explains Harvey. “This was a difficult situation for a newly opened mall. I directed the landlord to send in a bailiff to set an example not only for this tenant, but for all the tenants in the Centre. The tenant arranged to have the rent paid immediately.”

Harvey later became corporate counsel for Dylex Limited, which operated a number of retail chains, including Tip Top Tailors and Harry Rosen. He then took the position of corporate secretary with The Greater York Group, which functioned as the landlord for several shopping centres. Harvey later became senior leasing counsel for The Cadillac Fairview Corporation Limited, which was primarily involved in managing shopping centres, including Toronto Eaton Centre.

Harvey M. Haber

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34 Profile

Harvey subsequently joined the law firm of Perry, Farley & Onyschuk as an associate, where he built his reputation as an experienced commercial leasing lawyer. He then became a partner with Goldman, Litwack, Nash & Haber, and later moved on to become a partner with the law firm Lilly, Goldman. He then returned to become senior partner with Goldman Sloan Nash & Haber LLP.

Harvey’s reputation as being fair and knowledgeable has led landlords, tenants and lawyers to request him for their cases. He specializes in all legal aspects of commercial leasing, and provides mediation, arbitration and negotiation services. He also forms part of Team Resolution, a group that specializes in alternative dispute resolution, where each member of the team provides specialized legal experience. Harvey is both a chartered mediator and a chartered arbitrator in every field including commercial leasing.

“As mediator, my role is to put the parties together to settle the matter,” explains Harvey. “I develop instructions to map out how the mediation will be conducted, then I’ll let the lawyers present their cases and have the clients talk as well. Then they’ll each go into a separate room (it’s called “caucusing” and the mediator will go back and forth) to settle on a figure so that they can avoid litigation.”

Harvey has written several books on topics related to commercial leasing, including The Commercial Lease: A Practical Guide, Landlord’s Rights and Remedies in a Commercial Lease: A Practical Guide and Understanding the Commercial Agreement to Lease. He has also edited a number of books, including Distress: A Commercial Landlord’s Remedy, Assignment, Subletting and Change of Control in a Commercial Lease and Tenant’s Rights and Remedies in a Commercial Lease. Harvey has written numerous articles for manuals, journals, and newsletters related to the commercial leasing industry, such as the Retail Law Strategist, The Real Estate Investor and Commercial Lease Law Insider.

Harvey has also served as Editor in Chief of one the most notable books in the commercial leasing industry: Shopping Centre Leases, first published in 1976 and reprinted in 1982 (Note: The royalties of $5000 from volume 1 were donated to The Law Society of Upper Canada for a

Scholarship in the Ontario Bar Admission Course), with a second edition published in 2008. The book is a compendium of articles written by 41 commercial leasing practitioners across Canada.

Harvey has developed a reputation as a well-spoken and knowledgeable lecturer, panelist, chairperson, course leader and keynote speaker, based on his ability to discuss a wide range of topics related to legal commercial leasing issues. He has spoken at numerous conferences, presentations, roundtable discussions and other events across Canada and the US, including The Law Society of Upper Canada, the Canadian and Ontario Bar Associations, The Retail Council of Canada, the International Council of Shopping Centers and The American Bar Association.

“As a commercial leasing lawyer, Harvey is the ‘eminence grise’,” stated Lisa Borsook, Managing Partner, WeirFoulds LLP. “His curiosity and enthusiasm about his practice area has never waned. He continues to attend most of the seminars and conferences that are held in the practice area, whether as a speaker or as an audience member. I can tell you that if you are sitting on the podium, and Harvey asks you a question, you had better be on top of your game in responding.”

Perhaps most impressively, Harvey learned his lecturing skills from the late Milton R. Friedman, one of the foremost educators and authors in the United States on commercial leasing. He helped Harvey to develop a style that has made him in demand as a speaker and expert in commercial leasing legal issues.

Harvey has been recognized for his achievements and experience in the commercial leasing industry. On December 8, 2000, he received the Ontario Bar Association’s (OBA) Award for Distinguished Service. On June 6, 2002, he received the Law Society Medal, the highest honour from the Law Society of Upper Canada. On May 17, 2005, Harvey received the Osgoode Hall Law School Alumni Gold Key Award, which is given for exceptional professional achievement. He has also been consistently named as one of the most frequently recommended property leasing lawyers in the Canadian Legal LEXPERT Directory and listed in the L’expert/American Lawyer Guide to the Leading 500 Lawyers in Canada. P

Harvey’s reputation as being fair and knowledgeable has led landlords, tenants and lawyers to request him for their cases.

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Contact Todd Crawford, AACI, [email protected]

DTZ_Profile_Spring11.indd 1 3/14/11 9:49:33 AM

36 Profile

If you have never completed an energy assessment of the buildings you manage, then you need to know the truth… and that is your buildings may be using more energy than necessary. This means that they are costing more than they should, even if you can pass along some of these costs to your tenants.

Most buildings were constructed at a time when energy and greenhouse gas emissions were not given much consideration. They were also likely constructed when energy, gas and waste costs were lumped together under common area costs, creating no incentive for tenants to conserve energy or water.

If you manage buildings that fit these criteria, you could achieve significant savings and boost your reputation as a green manager. Knowing where to start, and who to trust, can be difficult. You often receive advice from utilities on changing lights and appliances, but this is a piecemeal approach to achieving energy efficiency. Each utility has its own agenda, and it’s difficult to discern which option is most important.

One solution is to hire an energy management specialist, who can help you maximize your building’s energy and water efficiency. They can take care of the steps in the infrastructure upgrade process – from analysis and design to implementation and post-installation improvement. You won’t have to worry about permit applications, contractor quotes and installation details; the energy management specialist will handle the details.

Property managers should consider four key issues when evaluating an energy management specialist. First, they should provide an assessment that is fair, accurate and reasonable, and that covers all forms of energy used by the building. Second, they should consider all available technologies, and not be vested in any one type or product. Third, they should understand how the technology, mechanical systems and human requirements work together. Finally, they should consider the long-term

management of the system, report on the benefits and savings, and engage in the continual optimization of the system.

The savings generated by an energy management specialist can more than pay for the costs involved in making the structure more energy efficient. They can achieve energy reductions of more than 40 per cent, with a payback on investment of seven years or less – even before subsidies. They can even arrange low-cost financing to help managers avoid the upfront costs involved in retrofitting the building.

An energy management specialist can provide verified results by measuring current energy use against baseline information to validate the energy savings that have been achieved. They will customize their energy management system to fit the building’s characteristics, prevailing energy rates and available rebate programs. They can provide ongoing monitoring and reporting for the life of the building, and support many building types.

Employing an energy management specialist to upgrade your building’s energy infrastructure can provide many benefits. They can employ an integrated Energy Management System (EMS) to generate greater energy cost savings, and handle the logistics and financing to minimize time delays and tenant impacts. They can enhance your building’s value in terms of attracting eco-minded tenants and increase its capital value. They are aware of and can submit all energy rebate applications. They will also enhance the value you provide to the building (and the building owner). Contact an energy management specialist for a free energy assessment and transform your building from a gas guzzler into a gas sipper. P

For more information on how you can improve your building’s energy efficiency and to reduce your bottom line costs, visit www.enerprosystems.com or contact Nick Farina, President, Enerpro Systems Corp., at 604-982-9155, extension 6.

Is Your Building a Gas Guzzler?By Nick Farina

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AMBIENT MECHANICAL www.ambientmechanical.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

BROOK RESTORATION www.brookrestoration.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OBC

BROWN & BEATTIE www.brownbeattie.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

CENTURY BUILDING RESTORATION www.centuryrestorationinc.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

CERTIFIED GROUP OF COMPANIES www.thecertifiedgroup.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

CREATIVE CARPET ONE www.creativecarpetonemarkham.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

DSFM www.condolaw.to . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

DTZ BARNICKE www.dtzbarnicke.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

ENERPRO SYSTEMS www.enerprosystems.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

FIRST NATIONAL FINANCIAL www.firstnational.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IBC

GMC PLUMBING & HEATING www.gmcplumbing.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

GSNH www.gsnh.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

H&S BUILDING SUPPIES www.hsbuild.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IFC

HSI SOLUTIONS www.hsisolutions.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

HUSH MEDIA www.hushmedia.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

K.I.B. BUILDING RESTORATION www.kibrestoration.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

MCFEE MAINTENANCE & CONSTRUCTION [email protected] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

MERCOR LIGHTING GROUP www.mercurylighting.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

PHELPS www.phelps.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

PLANiT MEASURING www.planitmeasuring.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

ROMA BUILDING RESTORATION www.roma-restoration.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

TRIDENT ELEVATOR COMPANY www.tridentelevator.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

VIEWIT.CA www.viewit.ca . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

A D I N D E X

Make First National your first call.

Contact us today for a customized mortgage solution.

Multi-family and commercial mortgage financing can be complex. That’s why our mortgage

experts, Peter Cook and Robert Fleet, work with you to customize a mortgage solution that will

meet your needs. Each mortgage inquiry starts with a professional mortgage consultation and

analysis. We then develop a customized proposal detailing your loan strategy, preferred terms,

best rate solution and optimum financing recommendation.

Peter and Robert will earn your business through fast turnarounds, quick closings and some of

the best rates available.

First National is licensed under the Mortgage Brokers, Lenders and Administrators Act 2006 (Ontario) Licence No. 10514

www.firstnational.ca

Creating mortgage solutions that work for you.

Robert FleetBusiness Development ManagerT: 905.301.3449 F: 416.593.1900 / 800.463.9584E: [email protected]

Peter CookAssistant Vice President, Commercial LendingT: 416.593.2913 / 800.465.0039F: 416.593.1900 / 800.463.9584E: [email protected]

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Brook_Profiles_Spring2011.indd 1 2/19/11 3:10:43 PM

Profile Magazine - Return On Growth

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