Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Aaron Cameron and Adam Powadiuk sit down with Rob Kumer, CEO at KingSett Capital, to explore strategies for navigating today’s uncertain market. Rob shares insights on balancing institutional growth with entrepreneurial flexibility, how impact investing can drive both strong returns and social good and why zero-carbon initiatives present lucrative opportunities. He also breaks down Canada’s real estate landscape compared to the U.S. and what catalysts could shift the market in the next 24-36 months.

Here is what you will learn:

• How to balance institutional growth while maintaining entrepreneurial decision-making and culture
• Why impact investing must generate both social benefits and compelling economic returns to achieve scale
• The strategy behind achieving double-digit returns through zero-carbon building retrofits
• How to identify opportunity in today’s “capital recession” environment while operating fundamentals remain strong
• Why current market conditions present unique opportunities to acquire institutional-quality assets at attractive yields
• How Canadian real estate market dynamics differ from the US in terms of valuation adjustments and transaction volume
• The key factors driving institutional write-downs and why asset pricing is finally aligning between buyers and sellers
• Why maintaining a 200-250 basis point spread between cap rates and interest rates remains crucial for investment success

Rob Kumer is the CEO of KingSett Capital, a leading Canadian investment management firm with approximately $19 billion in assets under management. With extensive experience in both credit and equity investments, he has successfully led the firm’s evolution while maintaining its entrepreneurial spirit and core values. His leadership has been instrumental in expanding KingSett’s portfolio across various sectors, including affordable housing, zero-carbon initiatives, and institutional-quality assets, while focusing on generating compelling returns alongside social impact.

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Aaron Cameron and Adam Powadiuk sit down with Michael Brooks, CEO of REALPAC, on the sidelines of the RealCapital 2025 conference to discuss Canada’s evolving real estate landscape. They explore the impact of US tariffs, interprovincial trade barriers, and the challenges facing CMHC’s funding programs. Brooks also shares insights on housing policy across party lines and the role of AI in transforming real estate development. 

Here are the key talking points from the episode:

• Understanding REALPAC: Canada’s Leading Real Estate Association
• Trump’s Tariffs: Impact on Canadian Real Estate & Trade
• Breaking Down Interprovincial Trade Barriers in Canada
• Housing Policy: Liberal vs Conservative Approaches
• CMHC Funding Crisis: $80 Billion Deficit and Industry Impact
• Development Charges: Reforming a Broken System
• AI Revolution in Real Estate: From Planning to Zero Waste

Michael Brooks is the CEO of the Real Property Association of Canada (REALPAC), representing the country’s largest real estate investment and development firms. A lawyer and former partner at Aird & Berlis LLP, he has been a leader in real estate law, policy, and sustainable development. Brooks has served on boards including the Toronto Foundation and the World Green Building Council. He also advises the Canadian government on sustainable development and has held academic roles at Toronto Metropolitan University.

 

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron sit down with Carl Gomez, Chief Economist and Head of Analytics at CoStar Group, to discuss the future of Canadian commercial real estate. They explore key trends, including the impact of potential U.S. tariffs, shifting apartment and office market dynamics, and evolving interest rate policies. From investment opportunities to rent control challenges, this insightful discussion offers a data-driven outlook for CRE professionals navigating today’s market.

Here are the key talking points from the episode:

• Market Recovery: From ‘Survive till ’25’ to New Reality
• Interest Rates: Why Bank of Canada Cuts Don’t Tell the Full Story
• Trump’s Tariffs: Potential Impact on Canadian Economy
• Housing Market: Supply Challenges and Affordability Crisis
• Rent Control: Comparing Canadian Markets to Alberta Model
• Investment Opportunities: Finding Value in Office and Retail
• Future of Office: Hybrid Work and Market Evolution

Carl Gomez is the Chief Economist and Head of Analytics at CoStar Group, bringing over 25 years of expertise in real estate economics and financial markets. With previous experience working on trading floors with bond traders, he offers unique insights into the intersection of macroeconomics, capital markets, and commercial real estate. His comprehensive understanding of both economic indicators and real estate fundamentals makes him a trusted voice in analyzing market conditions and forecasting industry trends. 

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron sit down with Marlon Bray, Executive Vice President at Clark Construction Management, for a candid conversation about the evolving landscape of commercial real estate construction. Marlon shares his insights on modernizing construction management with innovative technology, the challenges of streamlining development approvals, and Toronto’s housing crisis. He also discusses labor shortages, NIMBYism, and the gap between government policies and development realities. Packed with sharp insights and practical solutions, this episode is a must-listen for developers, builders, and industry professionals.

Here are the key talking points from the episode:

• Job Titles in Real Estate: Evolution or Inflation?
• Digitizing Construction: The Push for Modern Tech Solutions
• Breaking Down Development Silos: Building Better Together
• Government Policy Challenges in Housing Development
• The Construction Labor Crisis: Where Have All the Workers Gone?
• Tale of Two Cities: Edmonton vs Toronto Approval Process
• NIMBYism: The Danforth Case Study

Marlon Bray is the Executive Vice President at Clark Construction Management, bringing over 20 years of hands-on construction advisory experience. His expertise spans multiple sectors, focusing on large-scale private developments, including residential, office, and industrial projects. Previously, at Altus Group, he led pre-construction and contract administration services for Eastern Canada, advising on thousands of projects with a combined value exceeding $87 billion. Marlon strongly advocates for construction technology and process innovation, using data-driven solutions to enhance efficiency. His candid insights on industry modernization and housing policy reform make him a respected voice in commercial real estate.

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron are joined by Jennifer Keesmaat, President and CEO of Collecdev-Markee,  to discuss Canada’s housing development challenges. They explore inefficiencies in approval processes, vested interests that cause delays, and policy innovations that could transform real estate. Jennifer shares insights on reducing red tape, fostering affordability, and rethinking development charges to accelerate housing supply. Tune in for expert analysis on reshaping urban planning.

Here are the key talking points from the episode:

• From Activism to Action: Toronto’s Development Boom 2012-2017
• Breaking the Gridlock: Political Cycles vs Development Timelines
• The Eglinton Experiment: Lessons in Large-Scale Rezoning
• Rethinking Appeals: A New Approach to Development Approvals
• Fast-Track Development: How to Get 90-Day Approvals
• Inside Collecdev Markee: Building Diverse Housing Solutions
• Defining Affordability: Multiple Standards, Multiple Solutions
• Community Building vs Single Projects: Finding the Right Balance
• The Magic Wand Solution: Reimagining Development Charges

Jennifer Keesmaat is a renowned urban planner, real estate developer, and entrepreneur dedicated to transforming cities. As Toronto’s Chief City Planner (2012-2017), she championed walkable, sustainable communities and streamlined development approvals. Now President & CEO of Collecdev-Markee, she leads the creation of 7,500+ homes while advising governments on housing policy through The Keesmaat Group. Named one of Canada’s most influential people, she serves on global urban planning boards and co-hosts the Invisible City podcast. In 2024, she was appointed to the National Housing Council, continuing her mission to shape vibrant, inclusive cities of the future.

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of The Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron sit down with Jose Pellicer, Partner, Strategy of Evonite, to discuss his transition from managing institutional billions to launching a European real estate investment firm. They explore market cycles, value-add opportunities, ESG regulations, and the importance of downside protection. Jose shares insights on risk assessment, strategic mispricing, and why long-term institutional investors are key to success in today’s evolving European real estate landscape.

 

Here are the key talking points from the episode:

• From Pension Fund to Startup: The Birth of Evonite
• Risk vs Return: A New Investment Philosophy
• The 400 Basis Point Rule: Measuring Value in Real Estate
• Capital Raising: Navigating the Startup Challenge
• Finding Value in Small Industrial Assets
• ESG in Europe: The Reality of Energy Performance Standards
• Final Thoughts: Looking Ahead to Evonite’s Future

 

Jose Pellicer is a Partner, Strategy at Evonite, a pan-European real estate investment firm. With a distinguished career in institutional investment, he previously served as Global Chair of the Investment Committee and Global Head of Strategy at M&G Real Estate. Jose is a leader in risk management, ESG integration, and sustainable investment strategies, having played a key role in the successful Trans-European Fund series. Known for his strategic vision and leadership, he is also highly regarded for his collaborative and engaging approach.

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron are joined by Kathy Black, Head of Development at Fiera Real Estate. Together, they explore Canada’s evolving development landscape. From navigating the condo market slowdown to the booming success of industrial condos and the rise of purpose-built rentals, Kathy shares how Fiera is adapting to changing market conditions. Listeners gain actionable insights into rental metrics, development financing, and strategic pivots shaping commercial real estate today.

Here are the key talking points from the episode:

• Career Journey: From Ground-Up Development to Fund Management 
• Portfolio Overview: 75% Residential, 25% Industrial Strategy
• Office Conversions: Why Demolition Often Makes More Sense Than Conversion
• Toronto Condo Market Challenges: A First-Hand Development Perspective
• Purpose-Built Rental Success: Regional Market Insights
• Strategic Partnerships: Navigating Distressed Development Opportunities
• Industrial Condos: The “Unsexy” Asset Class Delivering 70% IRRs
• Development Financing: Relationship-Based Lending in Today’s Market
• Future Outlook: 2025 and Beyond Development Strategy
• After Show: Behind the Scenes Discussion and Market Analysis

Kathy Black serves as Head of Development at Fiera Real Estate, overseeing a robust portfolio of development projects across Canada valued at over $2 billion. With more than two decades of experience in real estate development and fund management, Kathy has established herself as a leading expert in ground-up development across multiple asset classes, including residential, industrial, and mixed-use properties. 

Her strategic leadership has successfully raised and deployed over $231 million in development funds while achieving remarkable returns, particularly in the industrial condo sector. Kathy brings a unique perspective to real estate development, combining hands-on project management experience with sophisticated fund management expertise, making her an invaluable voice in Canadian commercial real estate development. Her pragmatic approach to market challenges and opportunities, particularly during shifting market conditions, has helped establish her as a trusted authority in the industry.

 

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron are joined by Gord Cook, Vice Chairman at Colliers, to explore Canada’s dynamic industrial real estate market. They examine the impact of rising interest rates, evolving supply-demand dynamics in the Greater Toronto Area, and the future of industrial investments. From automation trends to shifting investor profiles, this insightful discussion unpacks key challenges and opportunities shaping the sector today. Don’t miss this essential conversation on CRE trends and forecasts!

Here are the key talking points from the episode:

• The Surge and Softening of Industrial Rents  
• Impact of the 2008 Financial Crisis  
• Geographical Dynamics of Industrial Markets  
• Automation and Technology in Industrial Real Estate  
• Shifts in Investment Dynamics  
• Economic Factors Influencing the Industrial Market

With a remarkable 37-year career at Colliers International, Gord Cook serves as Vice Chairman, specializing in industrial leasing, investments, and in-fill redevelopment. A top 5 national producer year after year, Gord is known for delivering exceptional results for high-profile clients like Canadian Tire, DHL, and Home Depot. Supported by a dedicated team, he combines strategic focus with deep market insight. An active speaker and board member, Gord has earned numerous awards from NAIOP, SIOR, and Colliers. Beyond his professional achievements, he values quality time with his wife, Christy, their four sons, and RJ, the family retriever.

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Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Adam Powadiuk and Aaron Cameron welcome back Adrian Rocca, CEO of Fitzrovia, to explore Toronto’s dynamic real estate market. They discuss the impact of rising costs, the urgent need for increased housing supply, and Fitzrovia’s innovative strategies, including vertical integration and unique resident amenities. Tune in for an insightful discussion on tackling development challenges and shaping the future of multifamily living in Canada.

Here are the key talking points from the episode:

• Fitzrovia’s Remarkable Growth  
• Innovative Resident Experience  
• Urgent Need for Government Action  
• Navigating Rising Costs and Interest Rates  
• Advocating for Development Incentives  
• The Future of Housing in Canada

Adrian Rocca has over 20 years of real estate and principal investing experience with over $20 billion of transactions across Canada, the US, and Europe. Previously, Adrian served as the Head of Tricon Luxury Residences Canada (Tricon Capital’s purpose-built apartment platform) and Tricon Lifestyle Communities (US-focused manufactured housing business). Prior to joining Tricon, Adrian was a Director with Apollo Real Estate Advisors in London, U.K., and worked with Credit Suisse First Boston as an M&A associate in Toronto and London. Currently, Adrian serves as a Board Member for the Michael Garron Hospital Foundation, Toronto Public Library Foundation, and Canadian Olympic Foundation. Additionally, he serves as the Chair of the Hold’em For Life Foundation.

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