Date: August 22, 2023

Name of podcast: Altus Insights Podcast Series

Episode title and number: State of the Southwest Ontario CRE market

Brief summary of episode: Southwest Ontario region has benefited from affordable housing, increasing population migration from the GTA, and significant growth in its tech center. In this episode, Mitchell Blaine, Executive Vice President at JLL, sits down with Ray and Marlon to discuss how the present cycle has impacted the CRE market in Southwest Ontario and predictions for the region’s future.

Panelists in this episode:

• Mitchell Blaine is the Executive Vice President at JLL Canada. Mitchell has over 20 years of experience in commercial real estate in the Southwestern Ontario market. His resume includes more than 1 000 transactions totaling $2.7 B, as he has represented a wide array of global, national, and local companies. Mitchell has consistently been recognized as a top performer, and his successes can be credited to his profound market knowledge, unsurpassed problem-solving capabilities, communication, transparency and relentless drive to deliver superior results for his clients.

• Raymond Wong 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.

• Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.

Date: August 15, 2023

Name of podcast: Altus Insights Podcast Series

Episode title and number: Canada office capital markets

Brief summary of episode: In this episode, Jaysen Smalley, Vice Chairman at CBRE Investment Capital Markets in Toronto, joins Ray and Marlon to discuss the evolving dynamics of Canada’s office sector in a post-COVID world.

Panelists in this episode:

· Jaysen Smalley is the Vice Chairman at CBRE Investment Capital Markets in Toronto. Jaysen has over 20 years of experience working for CBRE and has worked on over $50 billion in real estate transactions in all asset classes across Canada. Jaysen currently leads the Office Sector for Toronto’s National Investment Team, prior to joining CBRE, he worked in the investment banking industry with both private and public companies executing corporate divestitures, and equity and debt financings.

· Raymond Wong 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.

· Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.

Key topics:

01:58 – Perspectives on office investment demand: Are we seeing significant market discounts on these assets?

06:15 – Is the pace of core office sales in Canada going to keep up the pace?

09:38 – How will conversion play out in the office market?

11:57 – How are office conversions impacting sales?

15:54 – Are there significant increases in credit defaults with office assets on the horizon?

23:25 – Predictions for office demand over the next 4-5 years

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We live in contradictory times, demand for housing is at an all-time high. But developers across North America are struggling with a constantly changing environment that can inject risk from many different angles, entitlement approval, interest rates, supply chain, labor, construction costs, sustainability, climate change and the list goes on. To help sort this all out we’ve got two experts on these development risks joining us for the show, Faris Rehman, Director of Development Advisory at Altus, and Jack McGowan, Senior Director of Cost and Project Management at Altus.

Panelists in this episode:

· Faris Rehman is the Director of Altus Group’s US development advisory team. With over 20 years of progressive experience in construction due diligence, quantity surveying and construction risk management for project ranging in value from $1 million on $700 million in various roles. His career includes developing residential, healthcare, institutional projects and renovations for post-secondary and research institutions in US and Canada.

· Jack McGowan is a Senior Director for Cost and Project Management at Altus Group, responsible for the overall management and growth of Altus’ project management services including operations, strategic development and business development. Jack has been involved with managing and delivering large-scale construction and infrastructure projects for over thirty years and had experience with managing over $5 billion dollars in construction.

· Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence through to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.

Key topics:

02:26 – Five key risks when assessing a development project

03:30 – Advice for mitigating the five key development risks

05:53 – How do the risks change when moving into a different/new area for development?

07:50 - What’s the advice for mitigating today’s volatility risks?

08:16 - Even as a veteran developer, how hard is it to manage risks on a development project that represents a completely new regulatory environment?

13:10 – How important is change management if you’re looking at doing a development in a new market?

15:37 – Do approaches to risk differ from region to region? North America to the Middle East?