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Commercial Real Estate Podcast
37 minutes | 7 days ago
The Proptech Canada Report with Courtney Cooper of Alate Partners
Courtney Cooper is welcomed back to the podcast in this REF Club episode. She is the Principal at Alate Partners and Co-Founder of Proptech Collective. Courtney recently helped produce the Proptech Canada Report, which she’ll be discussing today. We begin by hearing about the cities with the most robust proptech innovation in Canada, and why there is one surprising absentee from the list. Courtney explains types of businesses that have benefitted and suffered from the COVID-19 pandemic and shares her outlook on the current proptech scene. Topics covered include: Startups in the commercial space versus the residential space. Canada’s growing tech scene. Why the term “proptech” is not defined in the report. Companies falling under both technology and real estate categories. Alate’s involvement with proptech. COVID-19 and how it has affected the careers that people pursue. The most important aspect in making a proptech company succeed. How Proptech Collective started last year. Innovation that has happened and will continue to evolve due to the pandemic. Examples of business types that lost steam during the pandemic. The returns an investor can expect in the proptech space. Where investment money is flowing from and to. Reasons why we should all be excited about technology in real estate. More about our guest….. Courtney is a principal at Alate Partners. In this role, she helps identify and scale promising real estate technology companies, provides market analysis and due diligence, and manages relationships with industry partners. Courtney has spent nearly 10 years in real estate technology and operations. Prior to joining Alate, she led innovation and business transformation initiatives at Dream and Great-West Life. Courtney is a board observer at Arrive, Lane, Branch, and Eden as well as the co-founder of the Proptech Collective. Courtney takes a human-centred approach, developed through her graduate studies in Strategic Foresight and Innovation at OCAD University. She holds a B.S. in Business Administration with a specialty in Operations from Georgetown University. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. 2021 Proptech in Canada Report: https://www.proptechcollective.com/report The post The Proptech Canada Report with Courtney Cooper of Alate Partners appeared first on Commercial Real Estate Podcast.
51 minutes | 11 days ago
Buildings Going Digital with Andrew Freitas of WiredScore
Andrew Freitas, Head of Canada Markets for WiredScore, is our guest in this episode. WiredScore is the only global connectivity rating platform for real estate. They assess the infrastructure that enables a well-connected building. There are several different scoring systems offered by WiredScore, and Andrew will take us through them and explain which ones are used and why. He talks about the need for high quality internet in new and old buildings, and how COVID-19 has changed real estate. Topics covered include: The story behind the founding of WiredScore. Scores in major Canadian cities versus smaller urban areas. The vast physical infrastructure usually needed to distribute internet. How Andrew helps buildings stay ahead of the technological curve. Descriptions of well and poorly connected buildings. Exposure that Andrew got to commercial real estate in previous jobs. Educating the real estate industry about technology Why your building should have multiple entry points for internet. Storing infrastructure in secured areas. How the COVID-19 pandemic has influenced real estate decisions. Building infrastructure in new buildings versus retrofitting old buildings. The development and upcoming launch of SmartScore. WiredScore Home and what it measures in multi-family units. Viewing internet as a utility just like any other. Andrew’s interest in outdoor activities and how they influence his thoughts on connectivity. More about our guest…. Andrew has been a part of the commercial real estate industry in Canada for the past 13 years where he started his career as a broker representing occupiers of commercial space across various asset types and industries. He then managed the data analytics needs of various types of businesses in CRE for CoStar Group. Currently, Andrew oversees the Canadian business for WiredScore, the global rating platform for digital connectivity in real estate. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Check out WiredScore: https://wiredscore.com/ The post Buildings Going Digital with Andrew Freitas of WiredScore appeared first on Commercial Real Estate Podcast.
47 minutes | 18 days ago
A Hard Insurance Market with Fraser Roberts of INTECH Risk Management
Fraser Roberts talks with Aaron and Adam in today’s episode. He is the CEO of INTECH Risk Management. Fraser has worked with the company for over 15 years, taking over the business from his father in 2014. With the COVID-19 pandemic causing a large impact on the insurance industry, Fraser gets into his thoughts on the current state of the market. We hear about the turbulence that insurance companies continue to face, the challenges posed to property owners and what Fraser thinks needs to happen for rates to see a decrease. Topics covered include: The outlook on insurance covering losses from COVID-19. Increases in rates that Fraser expects to see in 2021 and if this trend will continue How insurance has been affected in the construction industry. Specific clauses that present the biggest challenges. Adding to the business while preserving what Fraser’s father built. Headwinds that are being faced to properly insure buildings due to the pandemic. Managing the constant changing of the insurance environment. Issues that arise which can stop clients from getting the coverage they need. Why multi-residential units bring higher premiums. Engaging with multiple brokers to find coverage. Building and testing the long-term relationship with your insurance broker. What makes INTECH unique in the insurance space. Why the realization must be made that pandemic coverage has to be limited. Cost of replacement versus actual cash value. A story about an insurance company refusing to renew a policy. More about our guest…. As INTECH Risk Management’s CEO, Fraser Roberts is responsible for running all aspects of the company. Asides from his CEO duties, Fraser acts as an outsourced Risk Manager to a number of prominent developers and asset managers in North America. Fraser oversees both the Owners and Lenders Insurance Advisory teams, gaining valuable insight into the needs and challenges facing both lenders and business owners. His intimate knowledge of the insurance marketplace and risk management best practices have enabled him to dramatically reduce his clients’ total cost of risk while improving their scope of coverage. With clients in both the Commercial Real Estate and Infrastructure sectors, Fraser brings a wealth of knowledge when drafting and negotiating insurance and indemnity provisions in construction contracts, loan agreements, leases, and other material agreements. He consults on issues such as claims management, broker services, insurance program design, contractual risk transfer, alternative risk financing, among others, and advises lenders on all insurance matters related to a variety of transaction types, including Commercial Mortgages, Commercial Mortgage-Backed Securities, Mergers and Acquisitions and Construction, and Project Finance. Fraser participates in the furthering of risk management education in the financial services and commercial real estate industries, where he regularly conducts private seminars for Lenders, Lawyers, Contractors, and Developers and speaks at industry events. Fraser holds a Bachelor of Arts from the University of Toronto, Trinity College, and a Master of Laws through the University of Toronto Faculty of Law. In addition, he is a licensed insurance broker through the Registered Insurance Brokers of Ontario and is a member of the Global Risk Management Institute. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post A Hard Insurance Market with Fraser Roberts of INTECH Risk Management appeared first on Commercial Real Estate Podcast.
44 minutes | a month ago
ESG and Real Estate Outperformance with Catherine Marshall of RealAlts
Today we’re talking about environmental, social, and governance (ESG). To help out, we’ve got an expert in this topic: Catherine Marshall. She is a Principal at RealAlts, and has had her finger on the pulse of ESG for over ten years. Catherine tells us about R4 Advisors, a new ESG management consulting company that she has formed. She explains the impact that investors’ desire for ESG has had on real estate in recent years and provides examples of companies that are outperforming with ESG. Topics covered include: What being green in real estate meant when Catherine first entered the space. ESG stocks and how they have performed over the past 15 years. Examples of each pillar of ESG. Long-time efforts that have unknowingly been part of ESG. Ambiguity and confusion that exists in real estate. Examples of investment organizations that demand ESG in their portfolios. The virtuous circle of reporting ESG metrics. The absolute number-one way to outperform. Studies that have caused investors to pay more attention to ESG. Examples of organizations with solid ESG policies. Launching the brand-new collaborative platform R4 Advisors. Using the GRESB score and “what gets measured gets managed.” Green finance and loans. Performance versus satisfying requirements. More about our guest… Ms. Marshall co-founded R4 to bring specialized global investment management expertise to real estate and real asset ESG consulting. R4 is a natural evolution in her 12-year consulting history as Principal Consultant at RealAlts, a real assets investment consulting firm whose work includes ESG and TCFD reporting, new fund development, and investment strategy in Real Estate, Infrastructure, Agriculture, and Private Debt. She has an equally extensive background in hands-on ESG work as a builder, industry association leader, and sustainability expert. Prior to founding RealAlts, Catherine had extensive investment management experience as Director of Research and Strategy, Real Estate at the Canada Pension Plan Investment Board (CPPIB); Senior Vice President and Global Strategist at LaSalle Investment Management; Associate Portfolio Manager at Genus Capital Management; and Assistant Portfolio Manager, Real Estate, at the British Columbia Investment Management Corporation (BCI). She has also worked at Aon Investment Consulting as Associate Partner, Global Real Estate. Ms. Marshall was one of the first investment professionals in the world to attain the Sustainability and Climate Risk (SCR) certification in 2020. This demanding program in TCFD reporting, Green Finance and other emerging topics is offered by the Global Association of Risk Professionals. She is the ESG columnist on the Expert Panel of the Canadian Investment Review, and the former Executive Member and Treasurer of the Canada Green Building Council Toronto Chapter and has been a member of sustainability advisory groups. In addition to the SCR, she holds the CFA designation, has an undergraduate degree in Economics and Urban Studies from Queen’s University, and a Master’s in Economics and Finance from Simon Fraser University. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. The post ESG and Real Estate Outperformance with Catherine Marshall of RealAlts appeared first on Commercial Real Estate Podcast.
42 minutes | a month ago
COVID-19 and Seniors’ Housing with Brian Kimmel of First National
In partnership with the Real Estate Forums Club, Brian Kimmel is making his second appearance on the podcast. He is THE expert in finance on retirement homes and senior living, and has been part of the First National team for decades. We begin with Brian painting a picture of how long-term care and retirement homes looked before the COVID-19 pandemic struck the world. He explains why this asset class has been stable throughout the pandemic and discusses challenges that these homes will be facing in the coming years. Topics covered include: The state of seniors housing right before the COVID-19 pandemic hit. Average wait time to get into long-term care. Long-term care homes versus retirement homes. Price differences in both types of living facilities. How COVID has magnified the crisis of long-term care home availability. Why COVID was so devastating in long-term care homes. The outlook on vaccinations getting to residents of these facilities. Brian’s lack of confidence in government to build enough supply. Building smaller rooms as an affordable option. Private retirement home lending. The reason behind why COVID has caused less move-ins. Issues in underwriting retirement home deals. The stability of retirement home financing throughout the pandemic. Bridging gaps in vacancy as the industry waits for baby boomers to move in. Where Brian would personally put investment money right now. More about our guest… Brian Kimmel has been a part of the First National Financial commercial team for the past 20 years, and has originated more than $4 billion in commercial financing. Brian is a foremost specialist in apartments and seniors housing. During the past 20 years, he’s seen every type of deal that there is to see so he knows the positive precedents. His clients benefit from his vast experience as well as his commitment to them — to knowing their businesses and to understanding the intricacies of their strategies. Known and highly respected for his transparency and candor, Brian’s clients trust him implicitly and see him as more than a lender. To them, he is a key business advisor and critical member of their teams. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. The post COVID-19 and Seniors’ Housing with Brian Kimmel of First National appeared first on Commercial Real Estate Podcast.
42 minutes | 2 months ago
The 2020 Office Tenant Survey with Wendy Waters of GWL Realty Advisors
In partnership with the Real Estate Forum, Wendy Waters is back for her fourth appearance on the podcast. She is Vice President, Research Services & Strategy at GWL Realty Advisors, and will be bringing us through the 2020 Canadian Office Tenant Preference Survey. With survey answers being heavily influenced by the COVID-19, Wendy analyzes each category and theorizes why participants answered the way they did. Aaron and Adam have a slew of questions, as office tenancy is the big question heading into a post-pandemic world. Topics covered include: Building features that tenants want. The possibility of managing uneven flows of workers post-COVID. Daytime amenities versus nighttime amenities. Connectivity in office buildings. How cybersecurity has become more challenging in the past year. Tenant satisfaction with the buildings they work in. Information on who responded to the survey. The accelerated trend of working from home. Sentiment towards office setups and layouts during the pandemic. Other aspects of the workplace that are affected by working from home. What percentage of tenants believe that green initiatives are important. Methods of commuting to work and how the pandemic has influenced them. Examples of green campaigns in office buildings. The number of workers that receive online shopping packages at the office. What happens when there are amenities available that tenants are unaware of. Wendy’s anticipation of vacancy rates. More about our guest…. Wendy Waters is a multidisciplinary researcher, writer and real estate investment strategist. Her unique background allows her to blend research methodologies from economics, demography, anthropology, history, finance and marketing into strategic analysis to support superior real estate decision making. Top-down, bottom-up, macro and micro perspectives further round out the approach that distinguishes her work within the industry. She currently leads the Research Services & Strategy team at GWL Realty Advisors. GWL Realty Advisors is one of Canada’s leading real estate investment advisors, providing comprehensive asset management, property management, and specialized real estate services to pension funds and institutional clients. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. The post The 2020 Office Tenant Survey with Wendy Waters of GWL Realty Advisors appeared first on Commercial Real Estate Podcast.
36 minutes | 2 months ago
2020’s Biggest Transactions with Ray Wong of Altus Group
Today is another interview that Aaron and Adam recently conducted as part of their partnership with the Real Estate Forum. This time the expert is Ray Wong of Altus Group. He previously appeared on the podcast in June 2020 to discuss the state of the industry during the pandemic. Though we’re still dealing with COVID-19, Ray is now able to analyze what the pandemic has brought thus far and share data about the largest real estate transactions of 2020. He outlines his expectations compared to what actually transpired, as well as what he expects to see happen in 2021. Topics covered include: Year-over-year changes in 2020 versus 2019. The dire consequences of the pandemic discussed in its early days. The largest retail transaction in 2020 and what it can teach us. Seeing a combination of rental and condos on retail centres. The largest industrial transaction of the year, which happened in Alberta. The big drop off in office space deals last year. Seeing retail transactions as land transactions. Demand for grocery retail and the “retail is dead” narrative. Why valuations were hardly affected on multi-family units. More investors getting into industrial real estate. The value of the biggest real estate deal in Canada in 2020. What’s going to transpire in the office space going forward. Shopify’s office space holdings. Industrial rates in various cities across the country. More about our guest… Ray is the Vice President of Data Operations for Altus Group’s Data Solutions team. Overseeing 60+ researchers across Canada, Ray’s primary responsibility is to ensure data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events. Prior to joining Altus Group, Ray was the Head of Research for CBRE Canada. He was responsible for the collection of market intelligence and publishing marketing market reports on a regular basis. Ray interacted with both internal and external clients in respect to presenting and discussing real estate information, trends and analysis. He initiated and introduced the CBRE Econometric Real Estate Forecasting model in Canada for office and industrial real estate. Ray is regularly asked to comment on the real estate market in various print, radio and online news publications. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. The post 2020’s Biggest Transactions with Ray Wong of Altus Group appeared first on Commercial Real Estate Podcast.
40 minutes | 2 months ago
Tech Strategies for Real Estate with Casey Witkowicz and Brett Miller
Two guests are with us in this episode: Casey Witkowicz and Brett Miller. Casey is the founder of RYCOM Corporation, while Brett is the CEO of Canderel. Their discussion with Aaron and Adam is about how real estate and technology strategies are working together in the COVID-19 pandemic to lead into an economic recovery. We start off by hearing the effects that the pandemic has had in the businesses of both guests, along with what technologies have thrived during this period. They get into arguments for why people will want to return to work in an office and the need for integrated data across all real estate. Topics covered include: The journey that Canderel has gone through in the past 2 years to become more technological. Casey’s prediction for how machines will be used in the next hundred years. Blockchain’s use case and why it hasn’t yet caught on. Technology that Brett and Casey are the most excited about. Managing the changes that come with introducing technology. The quick pivot that Canderel made to their work process. Considering if businesses need people to be in their office full-time. An argument for why people want to go to an office. Brett’s background and his experience in technology strategies for real estate. How Casey works with Brett and with real estate in general. The abundance of proptech emerging in the real estate space. Why knowledge transfer needs to happen in this industry. A dream that Brett has for information in his organization. More about our guests…. Brett Miller – CEO, Canderel Brett Miller has 30 years of experience in the commercial real estate industry and the management of high growth entrepreneurial businesses in both North America and Europe. He started his career with Canderel (1986-1992) and rejoined in February 2019 as its Chief Executive Officer, taking over from Jon Wener who remains on as Chairman. Brett Miller is responsible for setting the strategic vision of Canderel, the oversight of all operations, 3rd party service businesses and the deployment of the company’s capital in a diverse portfolio of real estate projects across North America. Prior to Canderel, Brett Miller was the CEO of JLL Canada. When he joined the company in 2012 it had a small footprint in Canada with a staff of 150. During his 6 year tenure he grew the company by a factor of 10 through organic growth, the completion of 5 acquisitions and the launch of multiple new business lines. Through his leadership JLL became a leading national competitor in the real estate services industry in Canada. He held a similar role for CBRE from 2001-2012 during which time as its EVP Eastern Canada he grew CBRE into a dominant real estate services company in the region. Prior to 2001 Brett worked in London as the General Manager of a new venture owned by News International and in Paris creating and running a start-up logistics business. Brett Miller received his MBA from INSEAD and his Bachelor of Commerce in Finance from McGill University. His charitable and community activities include the INSEAD Alumni Endowment Fund Trustee, Chair of The Missing Children’s Network Gala, BOMA Canada Advisory Board and the leadership of The Defi Canderel. Casey Witkowicz – Founder, RYCOM Corp Casey has over three and half decades of experience in the information, communication and technology industry working in and serving markets throughout North America including real-estate. Electrical engineer by training, Casey has worked in R&D, product development, sales, executive management and has introduced countless of digital strategies, services and technologies for AT&T, Motorola, through private investments and more recently RYCOM Corporation. Founder of RYCOM, Casey is an entrepreneur, leader, investor, builder, frequent contributor to various industry thought leadership discussions and panels. The most important personal asset we have is our time and experience, Casey serves on a number of industry boards and with RYCOM supports a variety of academic collaborations to develop the next generation workforce. Most importantly Casey is a husband and dad who cares about human values and needs. Through the creation of LEAN ON ME, RYCOM serve’s and gives back to our communities corporately and individually. RYCOM is a trusted thought leader in Smart Tech solutions for public and private sector real estate, properties and portfolios. The convergence of real-estate operations, investments, tenant needs, and smart tech requires a wholistic approach to real-estate going forward. RYCOM HIVE is wholistic delivery platform merging smart tech, people and process assuring our clients outcomes and investment value. Smart Buildings are the center pieces of intelligent communities and smart cities. RYCOM is creating and deploying strategies built with industries brightest innovation, our development, integration securing the promise of technology and meeting the demands of the future. RYCOM has and continues to demonstrate that green strategies are both investment grade and sustainable, building the path to a carbon free economy. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform in 2021. The post Tech Strategies for Real Estate with Casey Witkowicz and Brett Miller appeared first on Commercial Real Estate Podcast.
42 minutes | 3 months ago
West Coast Secondary Market Investment with Robin Kelley of Groupe Denux
Robin Kelley, Partner at Groupe Denux based in Victoria, is joining us in this episode. He is a second-generation investor in his family, and owns and manages apartments all across the country but with a focus on the Victoria, BC market. A regular listener of the podcast, Robin takes us through how his family-owned company came to be. He talks about the effects of the COVID-19 pandemic on different markets, including both positive and negative trends happening in Victoria. Topics covered include: Robin’s case for investing in Victoria versus Vancouver. What Groupe Denux looks for when choosing a market to invest in. Vacancy rates achieved when offering rent under market rate. Tightening margins in secondary real estate markets. The trend of people leaving city centres. An advantage of secondary markets that was previously a disadvantage. Changes that have happened in Victoria over time. Starting his career in Quebec before moving to the west coast. Delving into construction of new buildings. Friendly competition that exists within the family-owned Groupe Denux. The eclectic group of markets that Groupe Denux is involved with. Business that Robin is conducting in Calgary right now. Struggles that Alberta was experiencing even prior to the COVID-19 pandemic. The flex financing option for affordable housing offered by CMHC. More about our guest….. Undergraduate Degree in Economics Graduate Degrees in Economics and Urban Planning Started my career at the Canada West Foundation, and then moved to Ottawa where I worked in Financial Sector Policy at the Department of Finance (we oversaw FINTRAC), had a stint working in Canada – US relations at the Privy Council Office under the Foreign Policy Advisor to the Prime Minister, along with a short stint at the Treasury Board. Started in Commercial Real Estate in 2006, when I joined the group. In addition to helping grow a family portfolio, was a lead on a few acquisitions in France including the construction of a BREEM Certified Tech Office Building, in Montpellier, France. We actively manage our portfolio and use only our own capital aside from our lenders. In recent years my focus has been on the construction and acquisition of multibay light industrial and multi family projects. I am a soccer fanatic with the injuries to prove it, love being pounded by the swells on the west coast while fishing, not obsessed about hunting but I do own guns including on from the turn of century (the last one via my Grandmother), and am an avid cyclist and a survivor of Mt.Ventoux. My wife forces me to live on a hobby farm rather than on the water or in an urban village. The post West Coast Secondary Market Investment with Robin Kelley of Groupe Denux appeared first on Commercial Real Estate Podcast.
49 minutes | 3 months ago
REITs in the Investment World with Tom Dicker of Dynamic Funds
Today we are welcoming Tom Dicker to the show. He is the Vice President and Portfolio Manager, Equity Income Team at Dynamic Funds. A member of several Canadian Real Estate Forums panels in 2020, Tom shares his knowledge on Canadian real estate and its relation to the broader investment world. We hear about why Canada is one of the best countries for REIT investment, which then leads into a discussion around the COVID-19 pandemic. Tom explains his thoughts on the future of office and retail space, along with investment opportunities that the pandemic has presented. Topics covered include: Distinctions that REITs have from country to country and how this changes the investing approach.0 The NAV premium and how it relates to COVID-19. Real estate performance compared to the S&P 500 Pension fund’s increasing exposure to real estate. Problems with the consumer price index. Where Tom would invest if he wanted to try to 10x his money. Advantages to investing in Canadian real estate versus other countries. Risks with data centres. Shifts in Dynamic’s portfolio at the beginning of the pandemic. The outlook on office and retail space. Behavioural changes that COVID-19 has brought which may stay around forever. The direct impact of bond interest rates. Reasons why REITs are a great way to get real estate exposure. More about our guest: Tom Dicker is Vice President and Portfolio Manager at 1832 Asset Management. Tom joined 1832 in 2011 as a portfolio manager and is a senior member of the award-winning Equity Income team. He is a global real estate specialist and is co-manager of the Dynamic Global Real Estate Fund, the Dynamic Real Estate and Infrastructure Income Fund, and the Scotia Private Real Estate Income Pooled Fund. Tom also manages several other funds with North American and US dividend mandates. Tom has 16 years of investment industry experience and has been named as a Brendan Wood Top Gun Investment Mind, Lipper Award, and Fundata A+ Award . Tom received an Honours Bachelor of Commerce Degree from the University of Ottawa and holds the Chartered Financial Analyst designation. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post REITs in the Investment World with Tom Dicker of Dynamic Funds appeared first on Commercial Real Estate Podcast.
45 minutes | 3 months ago
COVID-19 and Package Delivery Trends with Patrick Armstrong of Snaile
In a Canadian Real Estate Forum webinar, Aaron and Adam are joined by Patrick Armstrong. Although he is not directly involved in commercial real estate, his company, Snaile, provides automated smart parcel locker solutions which can be found in office buildings, apartment buildings, and more. ECommerce deliveries have exploded in 2020 with social distancing measures put in place since COVID-19, but even before the rapid adoption of on-line shopping, package delivery space and security was an issue. Combining physical property level space limitations with on-site staff workload compounded the challenges facing multi-residential and commercial owners and operators. Leveraging technology and the IoT, Snaile has seen huge adoption in the space. We also hear about challenges unique to the office space and the effects that the pandemic has had on adoption of smart lockers. Topics covered include: Early adopters and their use of the technology as an amenity to increase rent. The biggest, most interesting markets for Snaile. Laws that protect Canada Post deliveries. How Patrick became a serial entrepreneur. What inspired Patrick to come up with the idea for Snaile. Increases in volume that Snaile has seen during the pandemic. Installing lockers in new buildings versus old buildings. Getting packages picked up and preventing them from sitting for a long time. Companies and spaces that avail of Snaile’s mailboxes. Current activity in the office space and resistance from developers. Financing models available to implement this technology. What Patrick thinks package deliveries will look like in five years. More about our guest: An accomplished entrepreneur and business leader, Patrick Armstrong has continued delivering an impressive success portfolio across multiple industries. Since 1999, he has helped to develop and launched five companies which have all enjoyed both acclaim and distinction. His leadership as both CEO and Director of Product Development and Business Strategy directly contributed to these companies’ enduring success stories. Currently serving as the CEO of Snaile, Canada’s Parcel Locker Company, he has helped it grow to now operate automated smart parcel lockers in 24 Canadian cities providing multi-family resident, office and campus delivery management and retail buy online pickup in store (BOPIS) order fulfilment. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post COVID-19 and Package Delivery Trends with Patrick Armstrong of Snaile appeared first on Commercial Real Estate Podcast.
46 minutes | 3 months ago
Covid-19 Second Wave and Apartment Performance with Tony Irwin of FRPO
For the second time, we’re joined by President and CEO of The Federation of Rental-Housing Providers of Ontario (FRPO), Tony Irwin. His first appearance came early on in his role at FRPO, so he shares how the oranization has grown over the past few years. Tony gets into the effects of the second wave of the COVID-19 pandemic on the apartment industry, speaking to the difficulties that both tenants and landlords are experiencing. He also talks about challenges in the supply of apartments and what he’d like to see to combat this issue. Topics covered include: Recent escalation of activity from tenant organizations. Data collection during the first few months of the pandemic. The industry coming together to work for the greater good. The concern of arrears never getting paid back and other tenant challenges. Moving forward with the Landlord and Tenant Board’s systems in place to solve disputes. What happens when there’s a COVID-19 outbreak in an apartment building. Impacts on rents and vacancy rates in the marketplace. The possible speed of recovery in the Greater Toronto Area. Advocating for less red tape when building apartment units. Acknowledgement of the supply issue by governments. Conversations that need to happen in society about housing. More about our guest… Tony Irwin is President & CEO at the Federation of Rental-housing Providers of Ontario. Before joining FRPO, Tony was President & CEO with the Canadian Consumer Finance Association; a national trade association representing businesses that provide a range of financial product to Canadians. Previously, Tony was Vice President, North American Government Affairs, with Dollar Financial Group, Inc., where he served as Chairman of the Canadian Payday Loan Association and was active with the Community Financial Services Association of America. From March 2009 to July 2012 Tony was Manager of External Affairs & Consumer Relations with Allstate Insurance Company of Canada, where he implemented a national government relations strategy and served as official company spokesperson. Prior to joining Allstate, Tony served as Executive Director of the Justin Eves Foundation, a non-profit organization granting scholarships and bursaries to learning-disabled and disadvantaged young people to assist them to achieve a post-secondary education. Tony has also held key political roles and was Senior Advisor to an Ontario Premier and Executive Assistant to the Leader of the Official Opposition. Check out Tony’s previous appearance: http://commercialrealestatepodcast.com/tony-irwin-frpo/ The CRE Podcast is powered by First National. Episode sponsor is Wyse Meter Solutions. In partnership with Canadian Real Estate Forums. The post Covid-19 Second Wave and Apartment Performance with Tony Irwin of FRPO appeared first on Commercial Real Estate Podcast.
46 minutes | 3 months ago
The Value in People with Michael Turner of Oxford Properties Group
In conjunction with the Canadian Real Estate Forum, our guest today is Michael Turner. A speaker at the 2020 Toronto Real Estate Forum, he is the president of Oxford Properties Group. With 2020 being a challenging year for so many, Michael explains why people are integral in getting through the pandemic and why we will all become more savvy because of this experience. Topics covered include: The 4 priorities of Oxford and the mindset behind them. Capital allocation shifts over the past few years. The first thing Michael did when he assumed a leadership role. How good people and leadership have helped Oxford through the COVID-19 pandemic. Where capital is being prioritized right now. The life sciences sector and why it can benefit when other assets struggle. Oxford’s preference to build operating businesses at scale. Managing a global business throughout the pandemic. The Fairmont hotels purchased by Oxford and their strategy for them. Takeaways from his time at CBRE and why he eventually left after 13 years. Michael’s view on social media and how he uses it for business. The outlook for 2021. More about our guest….. Michael Turner is the President of Oxford Properties Group. Oxford is a leading investor, manager and developer of high-quality real estate assets, with investments in offices, retail, logistics, multi-family and hotels. Oxford’s business comprises one of the world’s premier global portfolios, operating out of 17 gateway markets in eight countries around the world, and invests across the risk spectrum. As President, Michael oversees Oxford’s $60-billion of assets under management, directing growth and investment strategies to execute Oxford’s mandate across a global platform. Michael leads a team of over 2,200 exceptional people who are committed to improving the cities and communities in which Oxford does business, while collectively helping to meet the pension promise of OMERS. Michael holds a Bachelor of Arts from the University of British Columbia, a Masters of Planning from Queen’s University, a Masters of Finance from the University of Toronto and is a CFA charter holder. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post The Value in People with Michael Turner of Oxford Properties Group appeared first on Commercial Real Estate Podcast.
50 minutes | 4 months ago
The US Perspective with Amy Price of BentallGreenOak
We have Amy Price joining us in this episode. She is the Managing Partner, Co-Head of US for BentallGreenOak. Given her position, Amy is able to provide us with a look at how real estate investing looks amidst the COVID-19 pandemic in the US and trends that might follow in Canada. BentallGreenOak is active in many countries, but Amy explains why the US is of particular importance. She gives details on some of the biggest transactions that BGO has completed during the pandemic and discusses shifts that she has seen in demand for various asset classes. We also hear comparisons between the US and Canadian markets. Topics covered include: The increase of investment activity in Canada and the US in Q4 2020. Seeing a pullback in leasing occupancy in the largest US markets. BGO’s rationale for purchasing a hotel during the pandemic. The merger of Bentall and GreenOak and why they complement each other well. Aspects that the US provides to BGO that other markets do not. Private market versus public market values for real estate. Giving prospective clients a choice in investments. Why BentallGreenOak is not driven by scale. Different strategies for investing in different asset classes. Fundamental changes in the demand for industrial real estate. Opportunities to access the debt markets. Amy’s career with Morgan Stanley. Continuing to see cap rate compression for industrial in the US. Trends that Amy sees in the US that might be on the horizon for Canada. More about our guest…. Amy Price has responsibility for the operating and financial performance of BentallGreenOak’s US business and has direct oversight of transactions, asset management, and portfolio management. Amy focuses her time on the Core, Core Plus and Development parts of the business. Amy chairs the US Investment Committee for BGO Diversified and Separate Account Clients, co-chairs the US Management Committee, and is a member of the BGO Global Coordination Committee. Prior to joining BentalGreenOak in 2012, Amy was a Managing Director and Head of Real Estate Investing for the Western United States at Morgan Stanley, where she was an Investment Committee member and built the real estate investment management business in San Francisco. Amy also spent time in Morgan Stanley’s New York and Hong Kong offices. Amy is member of the Board of Directors of the National Association of Real Estate Investment Managers (NAREIM) and member of the Urban Land Institute (ULI) Global Board of Directors in addition to being a Governing Trustee of the ULI. Amy holds an MBA with Distinction from The Wharton School of the University of Pennsylvania and graduated magna cum laude from Colgate University. The CRE Podcast is powered by First National In partnership with Canadian Real Estate Forums. The post The US Perspective with Amy Price of BentallGreenOak appeared first on Commercial Real Estate Podcast.
33 minutes | 4 months ago
Top 5 Highlights: Toronto Real Estate Forum with Peter Altobelli of Yardi
The largest event of the year just took place virtually, and Peter Altobelli is welcomed back to discuss the top five highlights from the Toronto Real Estate Forum. Peter is Vice President of Yardi Systems and a regular guest on the podcast. With so much good content, it’s hard to narrow it down to just 5 highlights. Aaron, Adam, and Peter focus heavily on thoughts expressed by the industry-leading guests in attendance and why 2021 is poised to be a great year for real estate. Topics covered include: #5: Benjamin Tal (the Chief Economist of CIBC) and his outlook on 2021. Why he feels that the second half of 2021 will be very strong. The high amount of spending the Canadian government does on its people. #4: Thomas Friedman (The New York Times) on the intersection of technology, globalization, and climate change. Taking care of the world as it globalizes. The relation between educator, innovator, and regulator. #3: Stephen Poloz (9th Governor of the Bank of Canada) on how market delays are very costly, and the solution is to spend. Central banks thinking differently than anyone else. The management of debt after the second World War. #2: Senior leaders in the industry discussing risks, challenges, and opportunities post-pandemic. Where they wanted their organizations to go in the next 6 to 12 months. The melting between logistics and retail. #1: Jon Love (Founder and CEO of KingSett Capital) and his intelligent, opinionated recaps. Being open to change and the opportunity it brings. Why the industry is in a much better position than 2008. More about our guest…. Peter Altobelli is Vice President of Sales and General Manager for Yardi Canada Ltd. Yardi develops industry-leading property and investment management software for all real estate asset classes. Peter has worked in the technology industry for more than 30 years, with a foundation in software development for the healthcare sector in the 1980s. His first role involved transforming existing software for an outpatient clinic scheduling system and introducing innovative PC technology for what has now become Hamilton Health Sciences. The CRE Podcast is powered by First National Episode sponsor is Yardi. In partnership with Canadian Real Estate Forums. John Love on LinkedIn: https://ca.linkedin.com/in/jonlovekingsett The post Top 5 Highlights: Toronto Real Estate Forum with Peter Altobelli of Yardi appeared first on Commercial Real Estate Podcast.
52 minutes | 4 months ago
Real Estate Forums Presents: Colin Lynch of TD Asset Management
In a Canadian Real Estate Forum webinar, Aaron and Adam are interviewing Colin Lynch today. Colin is Head of Global Real Estate Investments at TD Asset Management. He is responsible for the execution of his company’s global real estate strategy across 120 cities. We hear about Colin’s unique background that provides him with a meaningful perspective in the real estate industry. After talking about the effects of the pandemic this year, Colin explains what it is like being in this space as a black person and the diversity he is advocating to see in the future. Topics covered include: Colin’s unconventional background that led him to real estate. Leveraging diverse gender and racial talent in real estate. Working abroad and then deciding to come back to Canada. Differences working in Canada versus the US from a black perspective. The Black Opportunity Fund and the momentum behind it. Benefits of not being involved in real estate during Colin’s early career. Why it is so exciting to invest in real estate now. Trends that the COVID-19 pandemic have accelerated. How the world has bounced back from previous pandemics. Voicing dissent instead of silently going along with a decision. Other countries that Colin is excited about. Looking as far and wide as possible to find the best people. What Colin has learned about the Indigenous experience in Canada. Challenging people to find their passion. Making Canada more innovative and ambitious. Moving away from platitudes to improve outcomes. More about our guest….. Colin Lynch is the Head of Global Real Estate Investments at TD Asset Management. Working closely with the Alternative Investments team, Colin is responsible for the execution of the TD Asset Management Global Real Estate Strategy overseeing fund design and structuring, implementation, and oversight of acquired assets for the Global Real Estate Strategy. In this role, Colin manages investments in over 650 properties located in 120 cities worldwide. Colin joined TD Asset Management in October 2015 working with TD Asset Management’s senior executive team on corporate strategy. He transitioned to the Alternative Investments team in July 2017 and was responsible for creating business plans related to the development of an internal Real Estate Asset Management capability for our Canadian Real Estate Strategy, and the growth of our Alternative Investments platform through the development of a global real estate product. Colin brings a global perspective with his experience at Aimia (formerly Groupe Aeroplan), McKinsey & Company and Morgan Stanley. He has worked globally at the CEO and Board level to develop strategic plans and to design and implement growth and cost management programs for a number of large and medium-sized companies in several industries. Colin’s work in the Investment Banking Division at Morgan Stanley involved, among other duties, advising Morgan Stanley’s Real Estate Funds on investment transactions and Marc Carney (then Governor of the Bank of Canada) on Canada’s financial stability during the financial crisis. Colin holds an MBA from Harvard Business School, a Bachelor of Commerce and a Bachelor of Arts from Queen’s University. All were received with distinction. He also holds an ARCT (honours) from the Royal Conservatory. Colin is a member of the Board of Directors of the Sunnybrook Health Sciences Centre, the Toronto Symphony Orchestra, the Toronto Investment Board and Queen’s University’s Board of Trustees Investment Committee, where he oversees the university’s endowment and investment funds. He is also a co-founder of the Black Opportunity Fund. He was also recently Vice Chair of the Board of Directors of Toronto Community Housing Corporation where he served as Chair of its Building, Investment, Finance and Audit Committee. Black Opportunity Fund: https://www.blackopportunityfund.ca/ The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post Real Estate Forums Presents: Colin Lynch of TD Asset Management appeared first on Commercial Real Estate Podcast.
40 minutes | 5 months ago
Founding a Brokerage with Mark Fieder of Avison Young
Mark Fieder is our guest in this episode. He is President, Canada at Avison Young and has been with the company for 31 years. With such a long tenure in real estate, Mark is no stranger to market crashes like the one experienced in 2020. After providing a history of his time with Avison Young, Mark explains how his company has performed throughout the coronavirus pandemic and initiatives they have implemented. We hear about why Mark is positive about the 2021 real estate market as well as his prediction for office space. Topics covered include: How Avison Young started and the vision they had. The full-service approach that got Avison Young through the difficult early 90s. Why the company’s growth started taking off in 2009. Different roles that Mark has taken on at Avison Young. What Mark has done to carry his team through the COVID-19 pandemic. Supporting the mental health of Avison Young’s staff. Getting back to business and what Mark thinks Q1 2021 will look like. Damage being done to businesses because of the pandemic. Becoming the best but not necessarily the biggest. The sentiment of office space tenants. Mark’s anticipation for brokerage volumes in 2021. Global expansion of Avison Young and which markets are focused on. More about our guest….. Mark is President of Avison Young Canada. He is a Founding Principal and has 30 years of history with the Company. A Principal since 1989, he became Chief Operating Officer, Canadian Operations in July 2015. Prior to being promoted to that position, he was Managing Director of the company’s Eastern Canada and Ontario operations following a 14-year tenure as Managing Director of Avison Young’s Ontario offices. Fieder joined Avison Young in 1989 upon receiving a Bachelor of Arts Honours Degree in Urban Development from Western University in Ontario, in 1984. Mark serves on the Global Leadership Committee as well as the Executive Committee which together with the Board of Directors contributes to the strategic direction and growth at Avison Young’s Canadian and Global Platform. As President, he is a strategic executive responsible for overseeing a comprehensive portfolio of global real estate services, focused primarily on the delivery of excellence that leads to growth of the organization. He contributes to the development of AY’s strategic goals and objectives as well as the overall management of the organization. He also leads the market’s teams in managing real estate and provides executive level gravitas to assist in closing of relevant large transactions. Recruiting the next generation of leadership and revenue generators to continuously expand the platform of the Company into additional markets, adding service lines in existing markets, and facilitating merger/acquisition targets to closing, are few of his primary roles. Mark is a leader and champion of the unique and strong culture of the organization on a national level. He promotes a culture of, high performance, collaborative cross-functional teams, continuous learning and high standards for quality. He is, innovative, with a vision of the future of the Company; has strong leadership and mentoring skills with the ability to inspire people to action through their influence. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post Founding a Brokerage with Mark Fieder of Avison Young appeared first on Commercial Real Estate Podcast.
60 minutes | 5 months ago
“Distinctive Urban” Real Estate with Michael Emory of Allied Properties REIT
The Founder and CEO of Allied Properties REIT, Michael Emory, is welcomed by Aaron and Adam in today’s show. The Allied portfolio is centred around “distinctive urban workspace” and Michael has brought his signature asset sub-type to markets across Canada. After discussing how he got into real estate and the formation of Allied, Michael explains the importance of ESG and his company’s inaugural ESG report. We also hear his thoughts on REIT during 2020 and why he believes they will recover to reflect their underlying value. Topics covered include: The insight to real estate that Michael gained from working in law. The collapse of real estate in 1990, shortly after Michael started his private company. Where Michael searched for his very first capital raise for real estate. The recovery of office space after the COVID-19 pandemic. Correlations between financial success and environmental initiatives. The Well project in Toronto, a collaboration between Allied and RioCan. What was difficult about Allied’s IPO. Working with Westbank on KING Toronto and its unique design. An office tower in Montreal that Allied is excited about. Allied’s new ESG report. Staying at the forefront of serving knowledge-based organizations. The performance of real estate stocks during the pandemic. Stock prices of REITs reconnecting with their underlying value. More about our guest… Michael Emory is a graduate of Queen’s University (BA, Hons., 1977) and the Faculty of Law, University of Toronto (JD, 1982). Prior to entering the real estate business in 1988, Michael was a partner with the law firm of Aird & Berlis, specializing in corporate and real estate finance. Michael is the founder, a Trustee and the President & CEO of Allied, a leading owner, manager and developer of (i) distinctive urban workspace in Canada’s major cities and (ii) network-dense urban data centres in Toronto that form Canada’s hub for global connectivity. Allied’s business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. Allied went public in February of 2003 with assets of $120 million, a market capitalization of $62 million and a local urban-office portfolio of 820,000 square feet. Allied now has assets of $9 billion, a market capitalization of $5 billion and a national urban-office platform of 14 million square feet. Michael is also a Director of Equitable Group Inc. and Equitable Bank. The CRE Podcast is powered by First National. In partnership with Canadian Real Estate Forums. The post “Distinctive Urban” Real Estate with Michael Emory of Allied Properties REIT appeared first on Commercial Real Estate Podcast.
55 minutes | 5 months ago
Real Estate Forums Presents: Anthony Lanni of QuadReal
Anthony Lanni, Executive Vice President, Residential with QuadReal, is with Adam and Aaron today for another Canadian Real Estate Forum webinar in the Thought Leadership series. Anthony represents a portfolio valued at over $4 billion plus more than 30,000 suites in development in 9 cities across Canada. QuadReal has assets in 17 countries, but Anthony explains why the Canadian market excites him the most. He also talks about how the coronavirus pandemic has affected the multi-residential space and what amenities are becoming more relevant to tenants. Topics covered include: A breakdown on QuadReal’s portfolio and their global presence. The reasons for Anthony’s excitement about the Canadian market before, during, and after the pandemic. Enhancing the quality of life for residents with technology. Amenities that will be sought after over the next ten years. Healthy competition for residential assets. Making the decision on condo versus multi-residential. QuadReal’s management of British Columbia Investment Management Corporation’s portfolio. The rising average age in senior living facilities. QuadReal’s recent investment in student housing. Rent controls inhibiting supply growth. The impact of COVID-19 on vacancy rates and rent collection. Comparing the importance of occupancy and rent growth in 2021. More about our guest…. Anthony Lanni joined QuadReal in February 2017. As Executive Vice President, Residential, he is responsible for the overall leadership and strategic direction of QuadReal’s Canadian Residential and Seniors Housing portfolios, including responsibility for the sector’s integrated investment management, technical services and property management functional areas. With demonstrated leadership in acquisitions, development and construction, Anthony brings a deep understanding of markets and design to the QuadReal leadership team. Anthony was formerly a Vice President with Bentall Kennedy, where he led multi-family asset management activities in Canada. Previously, he was a partner with a Canadian development company with responsibility for the firm’s investment and development programs. Earlier, Anthony worked in corporate finance in both New York and Toronto with a global financial institution. Anthony holds an MBA in Real Estate & Finance from the Schulich School of Business at York University, a BES from York University, and is a Professional Land Economist. The CRE Podcast is powered by First National. Episode sponsor is Wyse Meter Solutions. In partnership with Canadian Real Estate Forums. The post Real Estate Forums Presents: Anthony Lanni of QuadReal appeared first on Commercial Real Estate Podcast.
63 minutes | 5 months ago
Emerging Trends in Real Estate 2021 with Frank Magliocco of PwC
Today, Frank Magliocco is back for his third appearance on the podcast. He is the National Real Estate Leader at PwC Canada. Frank is here to discuss key insights from the Emerging Trends in Real Estate 2021 report that was recently published by PwC and the Urban Land Institute. Unsurprisingly, this year’s trends have been impacted greatly by the COVID-19 pandemic and yet some of the core fundamentals remain unchanged. Frank touches on why investor sentiment was so divergent for 2021, along with the positives and negatives of investment in Montreal, Toronto, and Vancouver. Topics covered include: Uncertainty in the marketplace and its effect on buy/hold/sell ratings. Why interviewees for the report felt positive overall. Changes to equity and debt availability in real estate. Opportunities in alternative assets, including life sciences. Migration out of Montreal, Toronto, and Vancouver. Genuine action regarding environmental, social, and governance. Maintaining business continuity in a crisis. The impact COVID-19 has had on digitizing businesses and the use of proptech. Real estate disrupters. Using big data to make better investment decisions. Issues for real estate in 2021 that weren’t in the report last year. E-commerce penetration rates in Canada. Looking at secondary markets to invest in. Closing thoughts on the overall theme of the report. More about our guest… Frank Magliocco is a partner in the Audit and Assurance Group of PwC Canada working in the Toronto office. He is also the national leader for the Canadian Real Estate practice. Frank specializes in auditing, accounting and regulatory matters for real estate companies. He provides advice to clients in the broad real estate sector including property developers, residential construction companies, large national office, industrial and retail property owners, and property managers. In addition, Frank’s experience in the real estate sector includes instructing courses at the Real Property Association of Canada (RealPac), where he is a member of RealPac’s Financial Best Practices Committee. Frank began his career at PwC in 1989 and became a partner in 2001. Prior to focusing on real estate, he provided assistance with acquisitions, reorganization and debt and equity offerings to a number of private and public companies. He has significant experience with Canadian securities regulation, and has provided assistance with public filings. Frank is a CA and holds a BComm from the University of Toronto. Click here to access the Emerging Trends in Real Estate 2021 report. Check out Courtney Cooper’s episode here. The CRE Podcast is powered by First National. Episode sponsor is Wyse Meter Solutions. In partnership with Canadian Real Estate Forums. The post Emerging Trends in Real Estate 2021 with Frank Magliocco of PwC appeared first on Commercial Real Estate Podcast.
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