DEVELOPERS' DEN XII
WELCOME TO THE FINAL ROUND MARCH 18, 2022 SCHULICH SCHOOL OF BUSINESS SEYMOUR SCHULICH BUILDING
AGENDA
4:30PM
Guest Arrival & Check-in
5:00PM
Final Round Presentations
6:15PM
Robert R. McEwen Auditorium
Reception & Awards Presentation CIBC Marketplace
DDXII Organizing Committee Nick DiCastri | MREI '20 (Chair) Tracy Hui | MREI '20 Matthew Miklas | MREI '20 Christian Petersen | MBA '13 Jinny Tran | MBA '20 Nicole Vicano | MBA '11
ABOUT DEVELOPERS' DEN Developers’ Den was co-founded in 2011 by George Carras and Andre Kuzmicki after being vigorously championed by the President of the Schulich Real Estate and Infrastructure Club, Pete Ivanovic. This annual event is co-hosted by the Brookfield Centre in Real Estate and Infrastructure at the Schulich School of Business and the Schulich Real Property Alumni Association. Developers’ Den is proudly presented by Altus Group. Now in its 12th year, Developers’ Den attracts top real estate students, delivering a unique learning opportunity that challenges them as future leaders of the industry. The Competition provides a real-world scenario and represents experiential learning at its best. Student competitors take on the challenge of preparing a concise and compelling proposal under tight deadlines, defending their assumptions, balancing risk and reward, and most of all, thinking on their feet when challenged by the panel of leading industry executives. The 1st place team wins a cash prize of $6,000, 2nd place takes $3,000, and 3rd place receives $1,500. Developers’ Den is a two-phase Competition: twelve teams competed today in the Semi-Final Round and the top three teams are participating in tonight’s Final Round.
PRESENTING SPONSOR
As the Developers' Den Presenting Sponsor, Altus Group would like to welcome all competitors and guests to the Final Round of the competition. Altus Group is honoured to be a long time sponsor of Developers' Den and is excited to be a part of it again as it resumes in person this year. We are pleased to once again support our industry by showcasing the talented real estate students from North America's leading business schools. Altus Group is proud to acknowledge the future generation of decision-makers and we wish all the participants the best of luck. Thank you and enjoy the competition.
CASE SPONSOR
LEAD SPONSORS
SUPPORTING SPONSORS
ASSOCIATE SPONSORS
FINAL ROUND JUDGES Renée Gomes Senior Vice President, Development, DiamondCorp Renée is a Registered Professional Planner and Senior Vice President of Development at DiamondCorp. She is a champion of creative, multi-sector approaches to city building and has led numerous strategies for advancing public policy objectives through commercially successful real estate projects, including master planning initiatives that feature transit-oriented communities and world-leading approaches to sustainable development. Renée previously managed Waterfront Toronto’s development initiatives in the East Bayfront and West Don Lands communities, including Athletes’ Village for the Pan/Parapan American Games. She led the master planning and municipal approvals processes for East Harbour, Canada’s largest planned commercial development, and has prepared growth management and revitalization strategies for numerous communities in the Greater Toronto Area and in England. Renée is a lecturer in the University of Toronto’s Graduate Program in Planning, a member of ULI Toronto’s Management Committee, and a Board Director of Evergreen.
Geoff Matthews MBA '12 EVP Development, Capital Developments Geoff has nearly 20 years of experience in Real Estate Development and Acquisition. Geoff currently leads the Development Team at Capital Developments and is responsible for the delivery of several complex mixed-use projects across the GTA. Prior to joining Capital Developments, Geoff was Senior Vice President of Development at Great Gulf where he managed a variety of urban land redevelopment processes both locally and abroad. Geoff’s work experience spans from the acquisition and underwriting phase to the successful execution of a variety of award-winning projects including One Bloor East and Monde Condominiums. Complementing his analytical skills is an ability to work collaboratively with fellow team members and partners to maintain an attitude of integrity and trust. Geoff holds a degree in Mechanical Engineering from Queen’s University and an MBA from the Schulich School of Business, with a specialization in Real Property and Infrastructure. An avid proponent of education, Geoff coinstructed a real estate development course with for several years at Schulich following completion of his studies.
FINAL ROUND JUDGES Gregory Sweeney Senior MD & Head of Canadian Real Estate Investment, Manulife Real Estate Investment Management Gregory leads Manulife Investment Management’s real estate investment team in Canada. He is responsible for executing the investment strategy for both its General Account and third-party clients, which includes all aspects of investment management such as origination, underwriting, structuring and negotiation of transaction documents in support of real property acquisitions, dispositions and development activity in Canada. Since joining the company in 2011, Gregory has completed investment transactions across all property types and regions. In addition, he has participated in a number of strategic corporate initiatives including the development and launch of Manulife’s inaugural Canadian commercial real estate pooled fund and real estate due diligence in support of Manulife’s acquisition of Standard Life’s Canadian operations. Gregory is a graduate of Wilfrid Laurier University with a bachelor’s degree in Economics and Financial Management and a master’s degree in Business Economics. Moreover he is a CAIA and CFA charterholder.
SEMI-FINAL JUDGES Stewart Barclay Chief Operating Officer, Perimeter Development
Emily Long MBA '15 Director, Acquisitions & Asset Management, Crestpoint Real Estate Investments Ltd.
Glenn D'Silva Managing Director, Portfolio Manager, Manulife
Philip Ristevski MBA '14 Managing Director, Head of Canadian Real Estate Development, Manulife
Xi Huang Vice President, Investments & Residential, RioCan REIT
Bryan Siekierko MBA '08 Managing Director & Portfolio Manager, Manulife
Karl Innanen Managing Director, Colliers International
Raymond Wong Vice President, Data Operations, Data Solutions, Altus Analytics Altus Group
Amanda Ireland Vice President, Development, SmartCentres REIT
Thank You Judges!
CASE SUMMARY 85 Charles Street West in Kitchener, Ontario The Property – 85 Charles St W is a 3.2-acre surface parking lot located in Kitchener’s Central Business District. Manulife acquired the site as part of a larger portfolio acquisition several years back. The parking lot used to serve adjacent office buildings, but is no longer utilized and represents a prime redevelopment opportunity given the site’s central location and proximity to both local and regional transit stations. The site is designated “City Centre District” in the City of Kitchener Official Plan and zoned “D-5, Warehouse District Zone” in the current Zoning By-law. Case teams may pursue applications for Official Plan Amendment and Zoning By-law Amendment to support their development concept. Part 1 – The Case: At the outset of the competition, case teams were initially given the following challenge: The teams have been tasked to assess the highest and best use of the site and prepare a presentation to summarize why their firm should be selected to partner with Manulife on this redevelopment opportunity. Manulife is looking for a partner who has local real estate development expertise, and shares the same vision of creating sustainable communities and generating long-term value through developing income producing assets. The case team must consider Manulife’s sustainable investing guidelines and Environmental, Social & Governance (ESG) ambitions, while meeting its economic objectives. Part 2 – Case “Twist”: On the day of the competition, teams are asked to re-evaluate their proposal given new market information on the construction industry. They have been asked to incorporate higher construction costs due to increasing commodities prices, adjust construction escalation and construction duration to reflect market trends risks, and clearly explain costs and benefits associated with their proposed sustainability strategy. This twist will challenge the team to re-evaluate their ESG ambitions to ensure it aligns with the reality of the market conditions.
STUDENT EXPERIENCE FUND Proceeds from Developers’ Den support the Brookfield Centre in Real Estate & Infrastructure Student Experience Fund. Enhanced Learning Direct and Hands-On Real-World Perspectives Behind-the-Scenes Experiences
Developers’ Den, 2019
Developers' Den, 2020
Developers' Den, 2021
THANK YOU
PROUDLY CO-HOSTED BY:
The Organizing Committee, Schulich Real Property Alumni Association, and Brookfield Centre in Real Estate and Infrastructure would like to thank all past and present volunteers, judges, and sponsors for their generous contributions of time, mentorship, and funds which have so significantly enriched the student learning experience of this competition. THANK YOU!