TUESDAY MAY 1, 2012 • METRO TORONTO CONVENTION CENTRE NORTH BUILDING

Staying GoldenAn Insider's Look at North America's

Hottest Development Market

Platinum Sponsors Gold Sponsors

www.realestateforums.com

CONFERENCE CHAIRS

Niall HaggartJim Tadeson

KEYNOTE SPEAKERS

Paul BedfordGeorge CarrasDonald GivenDouglas Porter

PRESENTERS

Remo AgostinoWayne BarwiseMartin BlakeBill BryckScott CameronJohn CampbellDavid CarreiroGord CookJasmine CracknellSam CrignanoBrian CurtnerDean CuttingMike CzestochowskiDavid DaumGord DriedgerBoaz Feiner (invited)

Sheldon FentonMarco FiliceJohn Filipetti (invited)

Jeff FlemingtonMurray GoldmanRob GodallDerek GoringChris Harhay (invited)

John HayesHugh HeronTyler HershbergLisa LafaveBarbara LawlorJason LesterGabriel LeungGregg LinternBarry LyonLeor MarguliesDan MarinovicBruce McCuaigFinley McEwanSandy McNairAndrew McNeillJeff MillerEamonn MurphyJoe Nestic (invited)

Mauro Pambianchi (invited)

John Peets (invited)

Tom ReeceMark ReevePhil StewartGary SwitzerBrian Wagner (invited)

Michael WhelanGuy Wilson (invited)

Stelio Zupancich (invited)

Who Will Attend• CEOs, CFOs and other senior executives of

real estate companies that are active in land investment and development

• Developers and builders of ICI and residential projects

• Public and private equity investors and pension funds active in real estate

• Financial institutions and lenders active in land related financing

• Real estate brokers specializing in ICI and residential land investment

• Lawyers, accountants, appraisers and other specialists in real estate transactions, valuation, development, and financing

• Municipal, provincial, and federal government officials involved in planning, land development, the environment, transit, infrastructure, real estate, and housing

Insights on Trends, Issues,Strategies, and Opportunities in LandInvestment and Development Activity

The 2012 Land & Development conference will examine thecurrent market fundamentals and the dynamics affecting landacquisition and development in the Greater Golden Horseshoe,and speculate on where land values are heading for 2013 andbeyond. Who are today’s developers and investors, and howwill their strategies and expectations impact the developmentlandscape?

The conference will focus on condominium and residentialactivity together with office, industrial, retail and mixed-usedevelopment. Key themes for 2012 include: constructionfinancing for condominiums and commercial developments;the explosion of employment, growth, and developmentdowntown and nodes in the 905; Municipal and Provincialvisions, priorities and planning policies across the region;what does the future hold for small and mid-sized homebuilders;and what development activity is happening outside the GGH.

The 8th annual Land & Development Conference will providevaluable insights into development strategies, challenges,opportunities and risks as we examine where this sector isheading from the perspective of owners, developers, investors,and lenders. Last year’s event had an attendance of over 450 executives.

This special event has been organized by MMPI Canada, theproducers of the Real Estate Forums, in conjunction with asteering committee of developers, owners, lenders, brokers,and their intermediaries.

In keeping with the strong reputation of the Forums, The Land& Development Conference will present high-quality speakerson very topical issues at a relatively low registration fee.

Opportunities for networking will also be available throughoutthe conference.

We sincerely hope you will take advantage of this informative event.

Co-Chairs:

Niall HaggartExecutive Vice President

The Daniels Corporation

Jim TadesonFounding Partner

Carttera Private Equities Inc.

Supporting Associations

EDUCATION CREDITSATTENDANCE AT LAND & DEVELOPMENT MAY QUALIFY FOR:

• Appraisal Institute of Canada• Canadian Association of Accredited Mortgage Professionals• Certified General Accountants of Ontario• Institute of Chartered Accountants of Ontario• Real Estate Council of Ontario (RECO), REBBA 2002• The Law Society of Upper Canada

For updates, please visit www.realestateforums.comand select “Land & Development Conference”.

MMPI Canada is solely responsible for the content of the Land & Development program.

Principal Supporting Association

The Land & Development CThe Land & Development Co7:15 a.m.REGISTRATION AND CONTINENTAL BREAKFAST

8:00 a.m.OPENING REMARKS: CONFERENCE CO-CHAIRS

Niall Haggart, Executive Vice President, The Daniels Corporation

Jim Tadeson, Founding Partner, Carttera Private Equities Inc.

8:05 a.m.KEYNOTE PRESENTATIONS

Economic Outlook for the GTA for 2012 andBeyond: Opportunity in Difficulty

An insightful presentation on the global and domesticfundamentals that are driving the broader Canadian economyand the performance of Ontario and Toronto in particular.What is the outlook in 2012 and beyond for employmentand spending growth, inflation, interest rates, and energyand other commodity prices? What are the key economicengines driving job creation in Ontario? Can the manufac-turing sector cope for long with a Canadian dollar at par?How do the prospects for Toronto compare with othermajor Canadian cities? How does the forecast for Ontariocompare with the rest of Canada and the United States?

Douglas Porter, Deputy Chief Economist & Managing Director, BMO Capital Markets

Navigating the Development Markets at The Next Level

After pushing the limits in 2011 and setting new records,the property markets in the GTA have entered a new era in2012. The presentation will provide a detailed examinationand critical analysis of the land and housing (lowrise andhighrise) markets in the GTA and offer a perspective acrossother markets and separate the myths from the facts. Howsustainable is the current market? What are the emergingtrends? What are the new risks?

George Carras, President, RealNet Canada Inc.

How Can the Province’s Growth Plan be Course-Corrected to Respond to CurrentEconomic Times?

While the GTA struggles to implement the Province’s GrowthPlan, a key question remains unaddressed: have we beenovertaken by changing economic realities that necessitate are-thinking of the Growth Plan? This presentation will touchon the importance and sustainability of the developmentindustry in the economy of the GTA. What do we need to doto get the GTA from a plan to reality? How do we positionourselves for growth while addressing large infrastructurerequirements and the high costs of transit, piped infrastructure,energy? How do we shift from a culture of growth control togrowth encouragement? How can we leverage Provincialplanning tools to become a competitive place to grow?

Donald Given, President, Malone Given Parsons Ltd.

9:45 a.m.MORNING REFRESHMENTS

10:10 a.m.CONCURRENT SESSIONS (Select A1, A2, or A3)

SESSION A1

THE GTA INDUSTRIAL MARKET: IS THERE LIGHT AT THE END OF THE TUNNEL?

This session will examine the major challenges confrontingindustrial development in the current market, and whatopportunities lay ahead. What industries and uses canreplace the traditional marketing sectors? What, if anything,can be done with existing industrial space? Where will thenew Employment Lands come from, when will they comeon line, will they be serviced, and will available land be inline with the needs of businesses and industrial users? Isbuilt-to-suit the most viable option? Will spec developmentreturn? How much growth can be expected in this sector?

Moderator:

Gord Cook, Executive Vice President, Colliers International

Panel:

David Carreiro, Executive Vice President, First Gulf Corporation

John Hayes, Managing Partner, Blackwood Partners Inc.

Jeff Miller, Vice President, ProLogis

Joe Nestic, Senior Vice President, Menkes Developments Ltd. (invited)

Phil Stewart, Director & Principal, Pound & Stewart Associates Ltd.

SESSION A2

THE FACTS & FALLACIES OF THE CONDOMINIUMMARKET IN THE TORONTO COMMUTERSHED:HAVE WE GOT IT WRONG?

Condominium activity has hit a record pace over the lasttwo years. With single-family lot availability at an all-timelow, many first time condo developers are entering themarket: what are the implications for the marketplace withso many new entrants? Has the rapid pace of constructionor the emergence of new builders had an effect on buildingquality? With supply hitting 28,000 units in the last yearalone, has development reached capacity yet? And unitpricing has remained at an all-time high: are we reachingthe affordability ceiling? With the growing price of land,materials, development fees and labour, can pricing comedown? Who’s buying these units: are they owner/occupiers,or investors? And who are the investors: Canadian, oroffshore? How long can the surging investor activitycontinue? Is there an imbalance between supply and thedemand for condo living?

Moderator:

Leor Margulies, Barrister & Solicitor, Robins, Appleby & Taub LLP

Panel:

Jasmine Cracknell, Associate, N. Barry Lyon Consultants Limited

Martin Blake, Vice President, Project Implementation, The Daniels Corporation

Barbara Lawlor, President, Baker Real Estate Corporation

Gabriel Leung, Director of Development, Concord Adex

SESSION A3

CONSTRUCTION FINANCING FOR CONDOMINIUMSAND COMMERCIAL DEVELOPMENTS

While activity has remained strong in the condominiumand other commercial markets, the development processhas become lengthier and more costly, and traditionalfinancing sources are tightening up. This panel of leadingconstruction lenders will comment on the pricing andavailability of debt and equity financing, including: Whatwill happen when interest rates start to rise, and what are

Lanyards Sponsor Biographies Sponsor

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the signals that will cause this to change? How can lendersmatch a borrower’s expectations on the expected length of thedevelopment process? What is the lender’s perspective ongreen building: where is the return? If CMHC lending limitshave gone to $600 billion (same amount as our nationaldebt), and they are now at $550 billion: what happens as theyapproach the ceiling? What are lenders’ pre-sale, pre-lease,and covenant requirements, and where will they be headingin the next twelve months?

Moderator:

Dan Marinovic, Vice President, Finance, First Gulf Corporation

Panel:

Scott Cameron, President, Cameron Stephens Mortgage Capital Ltd.

David Daum, Senior Vice President, Real Estate Lending,ScotiaBank

Rob Goodall, President, Canadian Mortgage Capital Corporation

Stelio Zupancich, Vice President, Real Estate, TD Commercial Banking (invited)

11:15 a.m.CONCURRENT SESSIONS (Select B1, B2, or B3)

SESSION B1

CAN ANYONE MAKE SENSE OF THE PRICE OFLAND? WHAT IS THE OUTLOOK? WHAT ARE THESUPPLY ISSUES?

A panel of analysts and commercial brokers specializing inland sales will discuss the current state of the market acrossthe 416 and 905 area codes: With land prices increasing upto 500% over the last 7 years, and serviced low rise lots athistorically low inventory levels, where will the market turnover the next twelve to 18 months? Are governmentregulations restraining the market and driving pricing, andwhere will developers turn to ensure residential andcommercial demands are met? Can the public sector releaselands to bring pricing and availability back in check? Whatare the best opportunities across the GTA right now?

Moderator:

Mike Czestochowski, Senior Vice President, CBRE Limited

Panel:

Murray Goldman, President, The Goldman Group

Derek Goring, Vice President, Land Development,Infrastructure Ontario

Brian Wagner, Partner, Wagner, Andrews & Kovacs (invited)

Guy Wilson, Senior Director, Altus Group (invited)

SESSION B2

THE OFFICE LANDSCAPE OF 2020: WILL ANYONERECOGNIZE THE 416 AND 905 AREAS?

The office markets in downtown Toronto and across the suburbsare booming, with 15 new office projects currently underdevelopment (and only 6 are in downtown Toronto). How willgovernment and public sector planning strategy shape thelook of the downtown cores? How are municipalities implement-ing design guidelines? What values are these new buildingsattracting, and what effect will they have on existing properties?What are tenants looking for, and how big a factor is sustain-ability? Is the Toronto central business district seeing a shiftsouth, or will it decentralize to the suburbs? Who is buildingnow, and why? What’s driving tenant demand?

Moderator:

Sandy McNair, President, Altus InSite

Panel:

Wayne Barwise, Executive Vice President, Development,The Cadillac Fairview Corporation Limited

Jeff Flemington, Senior Vice President & Principal, Avison Young Commercial Real Estate (Ontario) Inc.

Eamonn Murphy, Managing Director, Jones Lang LaSalle Real Estate Services (invited)

John Peets, Senior Vice President, Leasing, Oxford Properties Group Inc. (invited)

SESSION B3

DEVELOPMENT OPPORTUNITIES FROM THEPUBLIC SECTOR: MARKET IMPACT OF THE PAN AM GAMES, AND OTHER FEDERAL,PROVINCIAL AND MUNICIPAL PROJECTS

This session will examine the wide ranging impact of large-scale development projects throughout the Greater GoldenHorseshoe. The first portion of the session will provide anoverview of the Portlands, PanAm Games, and Downsviewdevelopments, and what development opportunities areassociated with these projects. Also addressed will be anoverview of upcoming projects, and available opportunitiesfrom both the Provincial and Municipal governments. Finally,how are these major construction initiatives impacting theconstruction industry costs, timelines, and availability oflabour, and will there be resulting fallout in residential supplyand demand projections?

Moderator:

Jason Lester, COO, Dundee Realty Corporation

Panel:

Bill Bryck, President & CEO, Parc Downsview Park Inc.

John Campbell, Chief Executive Officer, Waterfront Toronto

Bruce McCuaig, President & CEO, Metrolinx

Michael Whelan, Vice President, Development, BUILD Toronto Inc.

12:15 p.m.NETWORKING LUNCHEON

LUNCHEON REFRESHMENTS

1:15 p.m.KEYNOTE PRESENTATION:

TRANSIT, TRANSPORTATION AND INFRASTRUCTURE:WHAT'S THE PLAN TO GET THE BIG MOVE MOVING?

This presentation will provide an overview of the current stateof transit and infrastructure across the region, and look atexactly how people and goods move through and within theGreater Golden Horseshoe. What is the current plan forinfrastructure development, and what will likely be theoutcome? Where will funding come from for the MetrolinxBig Move, and what portion of financing will fall on thedevelopment community? How will all systems (MTO,Metrolinx, GO, TTC, etc.) be integrated to ensure adequatecapacity and service for the growing concentration of peopleand goods?

Paul Bedford, Principal, Paul Bedford & Associates

2:00 p.m.CONCURRENT SESSIONS (Select C1, C2 or C3)

SESSION C1

INNOVATIVE MIXED-USE AND MULTI-USE: THE NEW MODEL OF DEVELOPMENT AND CITY BUILDING IN THE GTA

Developers attempting to create mixed-use or multi-useproperties face a unique set of regulations, approvals, and costsunheard of in any single-use facility. In this session, hear thewar stories and best practices for bringing your mixed-useproject to fruition, including: increased charges and differingdemographics for retail space; varied timelines and approvalsprocesses for each portion of the property; and navigating theunderwriting and financing of these complex projects.

Moderator:

Barry Lyon, President & Senior Partner, N. Barry Lyon Consultants Inc.

Panel:

Remo Agostino, Director of Development, The Daniels Corporation

Gregg Lintern, Director, Toronto & East York DistrictCommunity Planning, City of Toronto

Finley McEwan, Director of Development, The Cadillac Fairview Corporation Limited

Gary Switzer, President & CEO, MOD Developments Inc.

onferenceonference

SESSION C2

IS THERE A FUTURE FOR THE SMALL AND MID-SIZED BUILDER? HOW CAN THEY SURVIVEIN THE GTA MARKET?

With land supplies shrinking, the length of the developmentprocess growing, the availability of construction financingshrinking, and the cost of construction rising, the potentialfor small to mid-sized homebuilders to maintain or establishtheir position in the market place is more questionablethan ever before. With the bigger companies now snappingup infill and small land parcels, where can you turn tobuild next? How can smaller builders wrangle throughTarion’s constraints? And with land, how deep do yourpockets need to be to withstand the lengthy approvalsprocess and development cycle? Are builders lookingtowards the tech triangle to take advantage of the region’ssurging employment base? Leading builders will offer theirperspectives on the most viable opportunities to keep projectsflowing and staff employed as a new model is formed.

Moderator:

George Carras, President, RealNet Canada Inc.

Panel:

Sheldon Fenton, President, Reserve Properties Limited

Boaz Feiner, President, Housing Division, Geranium Corporation (invited)

Chris Harhay, Vice President, Harhay ConstructionManagement (invited)

Tyler Hershberg, President, BSäR Group of Companies

Tom Reece, Vice President Lending, CareVest Capital Inc.

SESSION C3

THE 905 EXPLOSION: EMPLOYMENT, GROWTH AND DEVELOPMENT NODES

How are suburban municipalities evolving to shed the notionof a bedroom community, and meet the needs and lifestylesof their residents? With fewer people able to afford asingle-family starter home, density in these centres israpidly increasing, but are jobs following suit? And howare the downtown cores evolving to accommodate thelive/work/play lifestyles of downtown condo residents? Is the retail sector meeting the needs of the changingdemographics? Where is the competition and structure for a vibrant downtown lifestyle market coming from? Are there mechanisms, plans, policies and incentives in place to facilitate this growth?

Moderator:

Brian Curtner, Principal, Quadrangle Architects Ltd.

Panel:

Dean Cutting, Partner, Carttera Private Equities Inc.

Marco Filice, Senior Vice President & General Counsel,Liberty Development Corporation

John Filipetti, Vice President, Development, Oxford Properties Group Inc. (invited)

Andrew McNeill, Strategic Leader, Strategic Community Initiatives, City Manager's Department, City of Mississauga

Mauro Pambianchi, Chief Development Officer,SmartCentres Inc. (invited)

3:10 p.m.EXECUTIVE ROUNDTABLE

WHAT IS THE OUTLOOK FOR LAND INVESTMENTAND DEVELOPMENT ACTIVITY OVER THE NEXTTWELVE TO 24 MONTHS? WHAT STRATEGIESSHOULD YOU BE THINKING ABOUT?

Given the broad range of issues discussed at the Land &Development Conference today, a panel of well-respectedsenior real estate executives will provide their insights andperspectives on what they believe are the most criticalissues and market trends that the development sectormust focus on over the next twelve to 24 months, andwhat courses of action would they suggest accordingly.The conversation will cover these questions and more:

• How long will the current condo market last: will it burst or deflate slowly?

• What impact do the media really have on the market?

• Canada is considered a “safe haven” for real estateinvestment: how and where do international investorsimpact development trends, growth, and financing?

• Where are the opportunities for office or industrialdevelopment?

• How far outside of the Greater Toronto Area will you go to keep building?

Moderators:

Niall Haggart, Executive Vice President, The Daniels Corporation

Jim Tadeson, Founding Partner, Carttera Private Equities Inc.

Panel:

Sam Crignano, President, Cityzen Urban Lifestyles

Gord Driedger, Senior Vice President Central Canada,First Capital Realty Inc.

Hugh Heron, Principal, The Heron Group of Companies

Lisa Lafave, Senior Portfolio Manager, Real Estate, HOOPP

Mark Reeve, Partner, Urban Capital Property Group

4:10 p.m.NETWORKING RECEPTION

Register on-line at realestateforums.comRegister on-line at realestateforums.com

Media Sponsor

Corporate Sponsors

REGISTRATION INFORMATIONFull Registration:Up to April 13 $435 + $56.55 HSTAfter April 13 $485 + $63.05 HST13% HST as indicated above.All registrations include a light breakfast, morning and afternoon refreshments, reception and luncheon.

Refunds & Substitutions:Refunds will be provided for cancellations in writingprior to Tuesday, April 24, 2012, with a processing feeof $75. We regret that refunds cannot be offered afterthat date. However, delegate substitution for the day is permitted.

Hotel Accommodation:For a limited time only reserve your Land & Developmentroom at the Intercontinental Toronto Centre at a special rate of $209.00 (plus tax). To guarantee this rate, reservations must be made directly with the Intercontinental Toronto Centre no later thanThursday, April 12, 2012.

To make your reservation call 1-800-235-4670 (Canadaand US) and ask for the Land & Development special rate.

Discount Flight:Porter Airlines is offering Land & Developmentattendees a 20% discount for travel between April 28 -May 4, 2012, on all fare classes. Book on line atwww.flyporter.com or call 1-888-619-6822 and quote promo code: LAND12.

How to Register:Advance sales only. There will be no sales at the door.

DEADLINE TO REGISTER: Tuesday, April 24, 2012

1. REGISTER ON-LINE:Easy on-line registration!Use VISA, MasterCard, or AMEX, and register on-line at realestateforums.com. Select “Land & Development Conference” and proceedfrom there. It’s quick, easy, and convenient.

2. REGISTER BY FAX USING A CREDIT CARD:Use VISA, MasterCard or AMEX andfax your form to (416) 512-1077 or 1-800-353-3094

3. REGISTER BY MAIL:Send the completed registration form with payment to:MMPI Canada10 Alcorn Avenue, Suite 100Toronto, ON M4V 3A9

PLEASE PRINT LEGIBLYRegistration form will not be processed unless completed in full. For additional registrations from the same organization, please photocopy this form. To receive confirmation by email, you must registerby Tuesday, April 24.

First Name:

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City: Province: Postal Code:

Telephone: ( ) Fax: ( )

Please circle your payment amount below:

Up to AfterApril 13 April 13

Full Registration $435.00 $485.0013% HST $56.55 $63.05

TOTAL $491.55 $548.05

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■■ Cheque enclosed (Please make cheque payable to "MMPI Canada")

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IMPORTANT:Please review the concurrent sessions throughout theprogram. Indicate the sessions you would like to attend byclearly circling your choices below. As space may be limited, seating will be on a “first come, first served” basis.

10:10 a.m. A1 or A2 or A3

11:15 a.m. B1 or B2 or B3

2:00 p.m. C1 or C2 or C3

■■ 01 Real Estate & Property Management

■■ 02 Building Owner / Developer /Investor

■■ 09 Asset Management

■■ 10 Real Estate Broker

■■ 11 Financial Services / Real Estate Financing

■■ 12 Government / Real Estate

■■ 13 Lawyer

■■ 18 Homebuilder

■■ 25 Urban Planner

■■ 27 Consultant

■■ 29 Municipal EconomicDevelopment

■■ 31 Government / Residential

■■ 05 Other (specify below)

12-0

17

ANY QUESTIONS? Call (416) 512-3807 or

visit realestateforums.comand select

“Land & Development Conference”

MMPI Canada is solely responsible for the conference content.

FOR ADDITIONAL REGISTRATION FORMS, SIMPLY PHOTOCOPY THIS FORM

YES, I require a Completion Certificate for RECO Continuing Education Credits –subject to Registrar (REBBA 2002) approvalPlease check www.realestateforums.com for updates and completion information.