Aaron and Adam are here alongside Mark Rothschild in today’s podcast. Mark is an Analyst at Canaccord Genuity with a focus on real estate and REITs, and has an impressive track record with the stocks he covers.

Marks talks about the impact of the COVID-19 pandemic on REITs and what he believes the recovery from all the shutdowns will look like. He provides insight on how he assesses REITs and gives tips on what potential investors should look for when evaluating a REIT.

Topics covered include:

• Key metrics that Mark uses to compare REITs.
• Factors that go into the decision to invest in a REIT.
• Indicators of strong rent rolls that will last.
• Differences between Canadian and American REITs.
• Acknowledging the intangible elements of REIT valuations.
• Short-term factors that can affect the trading of REITs.
• Being consistent when comparing different REITs.
• The value of a strong management team.
• Why Mark disagrees with his peers on the outlook of a certain asset class.
• Reasons why investors are not looking to take on much risk because of the pandemic.
• How investors view the value of a development pipeline.
• REITs that are buying back stock at a discount.
• Evaluating a REIT’s debt structure.
• Mark’s prediction for bouncing back from the pandemic.
• What to look at when judging a REIT.

More about our guest…

Mark Rothschild is an analyst covering the real estate sector at Canaccord Genuity. Previously, Mark served in the same capacity at Genuity Capital Markets. His prior experience includes being part of the real estate and lodging investment banking team at Salomon Smith Barney and performing credit analysis on U.S. REITs at Moody’s Investors Service in New York. Mark has previously been ranked as a top earnings estimator for real estate in the Thomson Reuters StarMine survey, and according to TipRanks, in 2019 was the number two overall stock picker in Canada. He has an MBA from the University of Baltimore.

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Courtney Cooper is a Principal at Alate Partners. She is a leader in the rapdily growing proptech sector with a growing roster of investments through her company. 

With her company “empowering entrepreneurs who are rethinking real estate”, Courtney takes us behind the scenes of Alate’s investment decisions. She shares some exciting companies that Alate has invested in and makes predictions about the future of proptech in real estate.

Topics covered include:

• Interesting proptech that is up-and-coming in real estate.
• The 2018 founding of Alate Partners.
• The approach and process when a potential investment is found.
• Proptech investment metrics that matter most.
• Incremental growth versus leaps forward.
• The most exciting companies Alate has invested in.
• Great companies always being able to find funding.
• Covid acclerating and forcing adoption of technology.
• The future of sharing big data.
• Changing old tech habits that are fully ingrained.
• What Courtney predicts will be the biggest technology adoption 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.

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In their third time covering the Fall 2020 forums, Aaron and Adam welcome back Peter Altobelli today to discuss the top five takeaways from the Montreal Real Estate Forum. Peter is the Vice President and General Manager of Yardi, a property management software company.

Many of the takeaways apply to most cities in Canada, but Peter explains why Montreal is unique in many respects. These include the low rental rate for industrial buildings and the city’s very vibrant downtown core.

Topics covered include:

• Peter’s history with Montreal.
• #5: Proptech hits warp speed as real estate has been slow to introduce significant technological changes, but the impact of coronavirus has made it a necessity.
• Montreal, just like other Canadian cities, not keeping up with technology.
• The success of technology companies during COVID-19.
• #4: Interest rates are not going anywhere for a number of years, at least until 2024.
• Debt being taken on by countries around the world.
• #3: There’s a huge amount of development everywhere, including infrastructure projects.
• Advantages of a new development happening on the West Island.
• #2: The industrial market continues to accelerate.
• Low rental rate for industrial property in Montreal compared to other major cities.
• The kind of tenants using industrial space.
• #1: COVID-19 has changed the downtown Montreal environment, turning it into a bit of a ghost town.
• What makes Montreal’s downtown so vibrant during normal times.
• Why Peter thinks Montreal will bounce back quickly.

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.

Top 5 Highlights: Canadian Apartment Investment Conference: https://commercialrealestatepodcast.com/canadian-apartment-investment-conference-2020/

Top 5 Highlights: Vancouver Real Estate Forum: https://commercialrealestatepodcast.com/vancouver-real-estate-forum-2020/

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Joining us on today’s episode is Mark Goodman. Introduced to the podcast by the Canadian Real Estate Forums, he is the Principal of Goodman Commercial and publisher of the Goodman Report. Mark has brokered some of the biggest real estate transactions in Vancouver and is regarded as a market leader.

Coming from a family of real estate practitioners, Mark has witnessed the transformation of Vancouver’s real estate market. He explains what his company does that contributes to their success and examines some of the regulations that were implemented in Vancouver last year.

Topics covered include:

• Brokering some of the biggest transactions in Vancouver 
• Mark’s exposure to real estate starting at a young age
• The very first phone call that Mark made as a commercial broker
• Being results-oriented in a competitive market
• Political challenges today reminiscent of the 1990s
• The lack of purpose-built rental construction in Vancouver
• Vancouver’s chronic supply and demand imbalance
• Rent freeze and vacancy control
• What happens if there is no value proposition to invest in rental housing

More about our guest….

Mark Goodman aggressively seeks new ways of marketing properties and perfecting the purchase and sale of real estate. He’s sold over $3 billion in apartment buildings and development sites in more than 500 transactions.

Since 2002, Mark has been a Goodman partner and principal. Over the years, he’s played a pivotal role in putting the company ahead of the industry curve.

Mark is a past director of the Vancouver Real Estate Board — Commercial Division.

Mark plays a lead role in publishing the Goodman Report, the company’s state-of-the-art platform for apartment news and marketing. The Goodman Report has positioned Goodman Commercial as authorities on apartment building sales in B.C. and across Canada. Mark is frequently quoted in the Vancouver Sun, National Post, The Globe and Mail, Business in Vancouver, Western Investor, Landlord BC Magazine and more. He has been a moderator and keynoter speaker for the Urban Development Institute, Vancouver Real Estate Forum and the Canadian Apartment Investment Conference.

Goodman Report here. 

The CRE Podcast is powered by First National Financial.

In partnership with Real Estate Forums.

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Today’s episode is part of the Canadian Apartment Investment Conference series, run by the Canadian Real Estate Forums. Austin Joynes, Vice President of Marketing and Training at Rhapsody, joins Aaron and Adam to discuss the nuances of perfecting the lease-up of apartment buidings.

You may think that with such demand for apartments, marketing them would not be necessary. Austin informs us why this train of thought is so wrong and the importance of have a marketing plan before breaking ground. We also hear about the COVID-19 pandemic’s effect on landlords and tenants of apartments.

Topics covered include:

• Deciding who you want to rent to before you start building.
• Why it is important to have a marketing strategy despite low vacancy rates.
• Making sure that amenities packages are flexible over time.
• The concept of loyalty towards apartments.
• Looking to the USA for trends.
• Getting involved with marketing early.
• Odd amenities enjoyed by different age groups.
• Preferred amenities in Vancouver versus Calgary.
• How the Alberta apartment market has been since the oil boom ended.
• How landlords are dealing with COVID-19 and shifting values of tenants.
• The type of apartment Austin would build if he was limited to one type.

More about our guest….

With almost 15 years’ experience leading vertically integrated real estate services for leading edge organizations, Austin specializes in the purpose-built rental / build-to-rent sector with expertise in operations, marketing, leasing, design and customer experience for existing and new build apartment communities. He is focused on designing, launching and leasing new developments in major markets across Canada.

Austin works with institutional and private organizations to craft and align investment, product, operating and marketing strategies that drive continuous asset performance to the highest level over the long term. He has developed an expert understanding of marketing and operating best practices, renter purchasing behavior, and how market and legislative conditions impact the purpose-built rental / build-to-rent industry in Canada.

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In partnership with Real Estate Forums.

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The Vancouver Real Estate Forum recently took place in a digital format. Today, we’re going to hear about the top five highlights from that conference. We have the pleasure of once again welcoming Peter Altobelli, Vice President and General Manager of Yardi, to go through these five key takeaways.

The COVID-19 pandemic continues to impact Vancouver and the rest of the world, but some surprising, positive trends have emerged from it. Peter talks about how Vancouver is still in a great position and why the market correction that has taken place isn’t necesarily unhealthy.

Topics covered include:

• #5: Vancouver continues to be a strong market for investment amid softening activities, particularly for multi-res.
• Rent capping due to the pandemic.
• Challenges and opportunities that may come moving forward.
• #4: The luxury retail market continues to perform well, even throughout the pandemic.
• Reasons why some people have more spending money right now.
• #3: Demand for industrial space remains strong and the vacancy rate remains low.
• Looking at cubed-foot measurements instead of square-foot.
• The low amount of new industrial coming into the Vancouver market.
• #2: Tech growth continues to be strong.
• Why tech firms are choosing Vancouver instead of other Canadian or global cities.
• Storing data internationally that is collected in Canada.
• #1: Government policies continue to impact growth and development in the region.
• Delays working with municipal and provincial governments.

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.

Listen to Peter’s last appearance on the podcast “Top 5 Highlights: Canadian Apartment Investment Conference” here.

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We are welcoming Brian Rosen in this episode of the podcast. He is the President and CEO of Colliers Canada, the company where Adam started his real estate career.

Brian had just one year with Colliers before he was promoted to President and CEO in March of 2020, just as the world got hit with the COVID-19 pandemic, so he tells us how important the relationships he built in that time have proven to be. He talks about the goals he set before the pandemic and why they haven’t changed, while the way they are accomplished has shifted.

Topics covered include:

• Why Brian chose Colliers as the next step in his career.
• The organizational culture at Colliers.
• The priorities that Brian wanted to accomplish in 2020 before covid was a factor.
• Motivating people by staying connected.
• The year in a leadership position that Brian had before the pandemic.
• Integrating into a new company from a senior management position.
• Distinctive pitch styles at competing brokerages.
• Having a sense of what client needs have changed because of COVID-19.
• Markets that are showing signs of growth.
• Operating at reduced capacity.
• Relationships that are being gained and lost right now.
• Diversity in Canadian real estate.
• Why many people start their career at Colliers.

More about our guest…

Brian Rosen is the President and Chief Executive Officer | Canada at Colliers International, Canada’s leading commercial real estate services and investment management firm. He assumed the role on March 31, 2020 and is responsible for driving growth and establishing the strategic direction of the business in the region. In addition to his role as President and CEO in Canada, Brian is also a member of the global senior executive team that sets the vision and strategy for Colliers International.

Prior to being appointed President and CEO in March 2020, Brian served as Chief Operating Officer I Canada at Colliers, overseeing operations of the Canadian business, including business development, finance and accounting, marketing and communications, IT and human resources. While in this role, Brian worked closely with the senior leadership team to refine Colliers’ fully integrated service offering and establish strategic areas of focus for the business.

Brian has spent his career fostering innovation and driving change, solving complex problems and continuously challenging and improving operations. An experienced General Manager, Corporate Strategist, Sales Leader, and Marketer, Brian worked at Iron Mountain for over a decade before joining Colliers, serving most recently as Senior Vice President and General Manager, Canada. Brian has had extensive experience in both the U.S. & Canada and prior to Iron Mountain was a Corporate Strategist at Avon Products and Management Consultant at Marakon Associates.

Brian holds an MBA from Harvard Business School and an undergraduate degree in Molecular Biology from Princeton University.

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Peter Altobelli of Yardi is back for his second appearance on the podcast. He’s here with Adam and Aaron to do something that’s a little different: they’re going through the top five highlights from the 2020 Canadian Apartment Investment Conference.

Some points that come up during the countdown include why older properties may have difficulty accomodating the amentities of modern life and the importance of building for a particular tenant base. The second wave of the coronavirus in Canada and its effect on real estate is a recurring talking point too as 2021 is on the horizon.

Topics covered include:

• #5: A shift in preferences in the multi-unit space.
• What being home more often because of the pandemic has caused.
• The parcel delivery process in apartment buildings.
• #4: Technology being a tool for tenants, prospects, and operators, as well as a factor in development.
• Changes that have happened during COVID-19.
• Technologies that keep everyone distanced and old processes that will get phased out.
• #3: The creative and necessary strategies discussed on affordable housing.
• Misalignment between federal, provincial, and municipal governments.
• What a rent subsidy could look like in Canada.
• #2: The ability to develop, reposition, and manage based on a profile of a particular tenant.
• Seeing a trend of redeveloping property and repositioning it.
• Understanding the consumer and catering to them.
• #1: The economy is in for some bumps before we see it stabilize. Going into 2021, the outlook is more grim.
• Peter’s prediction of higher vacancy rates.
• How CERB helped Canadians and what it not being available during the second wave means.

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. 

Listen to Peter’s last appearance here. 

Listen to David Allison of the Valugraphics Database discuss using human behaviour to target specific demographics here.

Listen to John Fox of Robins Appleby discuss affordable housing here.

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We are welcoming back Derek Lobo for his third appearance in today’s episode. He is the Broker of Record at SVN Rock Advisors, having expertise in managing apartments and apartment construction.

Derek gets into the coronavirus pandemic and explains in detail why apartments have been such a resilient asset class. He shares his thoughts on building apartments to attract target demographic and talks about some challenges and victories his company has had during this unprecedented year.

Topics covered include:

• Four reasons why the apartment space has been solid in Canada.
• Tenants re-evaluating what they want to pay.
• How landlords are managing the situation.
• The speeding up of apartment development.
• Solving the affordability problem.
• Building to sell versus building to keep.
• The lack of pain points in the apartment space compared to other asset classes.
• Designing buildings based on the tenant you want to attract.
• Examining tenants and relying on data.
• Transparency that has occurred between competitors during the pandemic.
• Challenges that Derek has seen in his own company.
• Advice that Derek has for young people.

A bit about our guest….

Derek Lobo is the CEO and Broker of Record at SVN Rock Advisors. He is regarded as a knowledgeable expert in the Student Housing Field and in the Apartment Industry and has provided numerous seminars and training programs for every level of apartment professional, ranging from owners and property managers to leasing agents and on-site personnel. His extensive knowledge of the industry has placed him as an in-demand presenter and consultant throughout North America.

Email: Derek.Lobo [at] SVN.com

Derek Lobo: LinkedIn

Derek’s first appearance on the CRE Podcast

Derek’s second appearance on the CRE Podcast

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Our guest today is Greg Speirs. He is the Executive Vice President, Portfolio Management at Realstar, one of Canada’s largest private owner-operators of rental properties, with over 25,000 units coast-to-coast. 

Greg shares his experience working in real estate internationally prior to taking on the Canadian market. After, we hear Greg’s thoughts on some of the changes that COVID-19 has brought to real estate. Realstar focuses on apartments, so Greg talks about how that asset class is being affected. He also shares his thoughts on the abundance of downtown construction that has happened across Canadian cities in the past few years.

Topics covered include:

• Finding like-minded partners.
• Raising capital versus deploying capital.
• Realstar’s vision to acquire high-caliber properties for the long-term.
• Starting off the portfolio with value-add properties.
• Utilizing discounts to justify risk.
• Understanding the risks of owning property in certain geographic areas.
• The worst phone call regarding building damage that Greg has received.
• If the value proposition of Realstar has changed in recent years.
• The construction that is ongoing in downtown Canadian cities.
• Social challenges in the real estate industry.
• Diversity initiatives being undertaken by Realstar.

More about our guest….

Greg is Executive Vice President, Portfolio Management at Realstar Management, one of Canada’s leading privately owned real estate investment and management companies.  He leads a team that is responsible for asset management, fund management and investor relations.  The portfolio includes 6 private funds worth over $5.0bn with over with 120 multi-residential properties containing close to 25,000 apartments.  He has helped raise close to $2.0bn in equity capital since 2011.  He joined Realstar in 2007 and helped transform Realstar into one of Canada’s leading multi-residential investment managers. 

Greg earned degrees from Queen’s University, the University of Cambridge and INSEAD.  Prior to joining Realstar, Greg was VP, Real Estate Finance with Lehman Brothers.  His previous roles include real estate consulting with Deloitte.

Greg is co-founding member of the Toronto chapter of the CLL Society.  In his free time Greg enjoys tennis and cycling.

James Wilson of Realstar episode.

Jeffrey Charles of Gallagher discussing insurance episode.

The CRE Podcast is powered by First National Financial

This episode is made in partnership with the Canadian Real Estate Forums

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