Editor’s note

Production Manager

Digital Media Director

Alberta & B.C Sales

APRIL 2020 Barbara Carss barbc@mediaedge.ca

Sean Foley seanf@mediaedge.ca

Kerrigan Brown, Jiri Skopek

Annette Carlucci Wong annettec@mediaedge.ca Rick Evangelista rickr@mediaedge.ca Rachel Selbie rachels@mediaedge.ca Kelly Nicholls kellyn@mediaedge.ca Melissa Valentini melissav@mediaedge.ca Steven Chester stevenc@mediaedge.ca circulation@mediaedge.ca Dan Gnocato dang@mediaedge.ca

Kevin Brown kevinb@mediaedge.ca

Sean Foley seanf@mediaedge.ca

Nadia Piculik, CPA CMA nadiap@mediaedge.ca

TEL: (416) 512-8186 • FAX: (416) 512-8344

Published and printed six times yearly as follows: March, April/May, June, Aug/Sept, Oct/Nov, Dec by MediaEdge Communications Inc. 2001 Sheppard Avenue East, Suite 500 | Toronto, Ontario M2J 4Z8 (416) 512-8186 Fax: (416) 512-8344 e-mail: circulation@mediaedge.ca Subscription Rates: Canada: 1 year, $60*; 2 years, $110* Single Copy Sales: Canada: $12* Outside Canada: US 1 year, $85 International $110 *Plus applicable taxes Reprints: Requests for permission to reprint any portion of this magazine should be sent to info@mediaedge.ca.

Copyright 2020 Canada Post Canadian Publications Mail Sales Product Agreement No. 40063056 ISSN 0834-3357

Authors: Canadian Property Management Magazine accepts unsolicited query letters and article suggestions. Manufacturers: Those wishing to have their products reviewed should contact the publisher or send information to the attention of the editor. Sworn Statement of Circulation: Available from the publisher upon written request. Although Canadian Property Management makes every effort to ensure the accuracy of the information published, we cannot be held liable for any errors or omissions, however caused. Printed in Canada

editor’snote

COVID-19 IS BOTH a major shock and not entirely surprising. As recently as last fall, few people would have ranked a global pandemic as the most worrisome threat to societal well-being and economic stability, but few strategic planners would have omitted it from the list of probabilities.

The Building Owners and Managers Association (BOMA) of Canada produced the first edition of its Guide to Pandemic Planning well over a decade ago and, presciently it now seems, updated it just last year. Other industry-led efforts to promote resiliency, business continuity and recovery in response to natural or humantriggered disasters, and to safeguard people, property and data, have additionally bolstered overall readiness to respond to many of the issues that have arisen in the past weeks. Nevertheless, transitioning from a planning exercise to real-time unfolding events is unnerving for everyone.

Industry associations have played a central role in connecting their members and helping them share their experiences and expertise throughout this pandemic crisis. Equally important, they’ve underscored the industry’s contribution to the Canadian economy and communicated its needs to all levels of government.

Cheryl Gray, Head, Special Projects, with QuadReal Property Group’s operational excellence division, has surely happened upon an interesting year for her term as the first ever President of the Institute of Real Estate Management (IREM) from outside the United States. “The primary focus for IREM right now is to support our members and the property management industry by providing them with relevant information, tools and resources as they deal with the challenges of managing through the impact of COVID-19,” she recently told the REMI Network.

Beyond the well-known stalwarts, COVID-19 has prompted new organizations like the Canadian Hotel Advisor Collective, a group of real estate, legal, financial and marketing services providers who quickly came together to support one of commercial real estate’s hardest hit sectors. “We’ve all placed a priority on helping the industry and our clients, and I think we are all pleased to be working together on this,” founding member, Bill Stone, Executive Vice President of CBRE Hotels told the REMI Network.

Technology’s role is undisputed in keeping the industry— and the economy, in general — functioning throughout the lengthy and widespread lockdown. This issue’s features on smart buildings and proptech further explore technology’s reach and potential. (Accordingly, our digital news site at www.REMInetwork.com has enabled our editorial team to deliver timely reporting on the events and repercussions of the past tumultuous weeks. We invite you to stay with us as we see what happens next.)

We also look back to the pre-COVID-19 view, with reports on the performance of the Canada Property Index in 2019, and insight on open-end real estate funds drawn from REALPAC’s information-collecting initiative last year. Although it’s far from breaking news that real estate follows a cyclical course and institutional investors are in it for the long haul, it seems like a fitting time to repeat that message.

Finally, we present the annual Who’s Who in Canadian Real Estate survey. Thank you to Kerrigan Brown, AJ Campbell and Taras Kozak for collecting and coordinating this year’s results.

Barbara Carss barbc@mediaedge.ca @BarbaraCarss

contents

Focus: Real Estate News & Context

6 COVID-19 Response: Crisis management overlaps with business contingency and recovery plans.

10 Smart Pandemic Controls: Building technology supports infection detection, services for quarantined occupants and remote systems operations.

12 2019 Investment Returns: March turbulence jostles the perspective from 2020’s early weeks.

16 Open-end Funds: REALPAC queries 15 property fund managers collectively holding more than $143 billion in assets under management.

19 Who’s Who in Canadian Real Estate: Results of the 25th annual survey of office, retail, industrial and multi-residential portfolios.

30 Proptech Potential: Canadian commercial real estate companies are navigating the learning curve of data-based technologies and services.

34 Accessibility Progress: Updates proposed for Canada’s National Building Code.

Departments

3 Editor’s note

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