RPIC Course Descriptions
Fundamentals
This course will provide new and existing industry members with the institutional and economic context for commercial real estate investment and development in Canada. This course is not part of the RPIC program.
Fundamentals
The objective of this virtual course is to learn the institutional and economic context for commercial real estate investment and development in Canada, understand the main transaction types, and to learn how to practically apply real estate investment analysis in undertaking those transactions. Students will gain an understanding of real estate cash flows and risks of different property types, and the main risk management techniques in those transaction types.
COURSE OVERVIEW
- Basic Real Estate economics
- Law & Regulation – interests in land, title & tenure, planning, zoning and land use
- Basic valuation principles, financial leverage and the capital stack
- Creating proformas, choosing and applying discount rates and terminal cap rates on investment properties
- Investment analysis of development properties
- Structuring acquisitions, leases, and mortgages
- What to fight for in a purchase and sale negotiation
KEY LEARNING OUTCOMES
- Understanding the various approaches to valuation and their flaws
- Understanding the drivers of revenue and expenses
- Understanding an owner’s ability to improve cash flow or limit risks to cash flow
- Understanding the legal fundamentals involved in real estate investment
- Understanding the impact of financing on income producing investments
- Understanding how value is created through successful development
- How risk is transferred through properly structured agreements.
WHO SHOULD ATTEND
- Mid-career professionals who want to broaden out their knowledge or exposure
- Mid-career and senior executives new to the real estate industry
- Directors of real estate companies
- Lenders to real estate
- Regulators, including urban planners and engineers
- Real estate professionals interested in understanding the context of their business
- Real estate agents looking for a broader understanding
- Those beginning their careers in real estate
COURSE INSTRUCTORS
- Joseph Shaw, Head of Relationship Investing, Hazelview Investments
- Charlene Schafer, Partner, Torys LLP
COURSE FEES
- REALPAC Member Company*: $795.00
- Non-Member Company: $895.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Asset Management
This course will help attendees learn to manage the numerous and varied issues between owners, consultants, property managers, accountants, tenants, capital markets and regulatory authorities.
Asset Management
Real estate asset management is a complex and diverse function that has evolved over the past few decades to emerge as an integral area of practice within the world of commercial real estate. There are many approaches, definitions and models of asset management, and the skills required of and functions performed by an asset manager depend on several variables of a portfolio, including: the size and scale of an organization, the number and type of assets under management, the business goals of the owners(e.g. current income vs. capital gain), as well as the nature of the mandate (internal or outsourced to a third party).
Asset management continues to expand in order to help deal with the numerous and varied issues between owners, consultants, property managers, accountants, tenants, capital markets and regulatory authorities. This course will feature case studies and group exercises. Attendees will be encouraged to participate in moderated class discussions.
 |
Eligible for Continuing Education Credits with BOMI. |
COURSE CONTENT
- Overview of the asset management function
- Portfolio management
- Review of budgeting and planning processes
- Mergers and acquisitions
- Evaluating hold/sell decisions
- Public and private financing
- Build vs. buy decision making parameters
- Valuation analysis
- Client services and reporting
KEY LEARNING OUTCOMES
- Familiarity with the skills and experience required of an Asset Manager
- Clearer knowledge of the general goals of the Asset Manager
- Greater awareness of the advantages and disadvantages of internal, third party, and fund structure
- Asset Management mandate models
- Deeper knowledge of the challenges facing asset managers and the interplay of asset managers with other organizational functions
- Ability to identify the key performance indicators used by the asset manager in performing his or her function
WHO SHOULD ATTEND
- Asset managers looking to deepen their understanding and are keen to study and interact with other professionals involved in asset management
- Real estate professionals wishing to pursue a career in asset management
- Owners looking to gain a better understanding of the advantages and disadvantages of different asset management mandates
- Investors looking to invest in a real estate fund or engage third party asset managers
- Legal, accounting, banking, finance, and advisory client service professionals looking to broaden their understanding of their clients’ needs
- Brokers, analysts, property managers, leasing specialists, and others looking for an opportunity to broaden their knowledge in this field
- HR and recruiting professionals looking to better understand the skills, experience, and value of employees and prospective candidates
Please Click Here for a Manager Justification Letter
INSTRUCTORS
- Peter McFarlane, SVP, Investment Management Operations, Fiera Real Estate
- Theresa Warnaar, SVP, Retail & Asset Resilience, KingSett Capital
COURSE FEES
Virtual attendance:
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
In person attendance:
- REALPAC Member Company*: $1,495.00
- Non-Member Company: $1,695.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Capital Markets
This course will discuss raising capital across the real estate sector including REIT vs. corporate structures, the IPO process, related valuation and performance measurement concepts, and more.
Capital Markets
Real estate capital markets have evolved over the past 15 years to include more sophisticated and diverse capital structures and investment opportunities in private and public markets, with institutional ownership taking on an increasing presence in the marketplace. Key players in the real estate sector have expanded to include mutual fund managers and equity capital markets participants along with the analyst community playing an active role, and public company managers and their boards placing increasing importance on sound corporate governance.
This virtual course will discuss various ways of raising capital across the real estate sector, REIT vs. corporate structures, the IPO process, related valuation and performance measurement concepts in the public markets, and current issues facing the capital markets with a focus on governance. In addition, this course will utilize a combination of lectures, guest speakers, and mini case studies designed to replicate actual day to day experiences of various market participants.
|
Eligible for Continuing Education Credits with BOMI. |
WHO SHOULD ATTEND:
- Real Estate managers who are looking to deepen their understanding of the real estate capital markets
- Real Estate professionals wishing to pursue a career in the public markets
- Owners who are looking to gain a better understanding of the process, advantages and disadvantages, and costs of going public
- Investors looking to invest in public real estate entities
- Legal, accounting, banking, finance, and advisory client service professionals looking to broaden opportunities in raising capital
- Brokers, analysts, property managers, leasing specialists, and others looking for an opportunity to broaden their knowledge in this field
- HR and recruiting professionals looking to better understand the skills, experience, and value of employees and prospective candidates
KEY LEARNING OUTCOMES:
- Familiarity with the capital markets environment and skills and experience required of various market participants
- Understanding of market measurement tools used to assess and evaluate public companies
- Greater awareness of the advantages and disadvantages of internal vs external management mode
- Deeper knowledge of the challenges and benefits of being a public company and the governance issues facing managers and Boards of Directors
INSTRUCTOR:
- Stephen Sender, Corporate director, serving as Trustee of H&R Real Estate Investment Trust, Director of Sienna Senior Living Inc., Trustee of Centurion Apartment REIT and Trustee of Centurion Real Estate Opportunities Trust
COURSE FEES
Virtual attendance:
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
In person attendance:
- REALPAC Member Company*: $1,495.00
- Non-Member Company: $1,695.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Development
This course takes participants through the feasibility analysis process from beginning to end along with exploring the role of each member of the development team including consultants and the community.
Development
Development is a critical component of community building. The development business is multi-disciplinary where the developer brings one or more of finance, entitlement, marketing and deal making expertise to the table along with access to capital.
This virtual course takes participants through the feasibility analysis process from beginning to end along with exploring the role of each member of the development team including consultants and the community. The development of multiple property types are explored including mixed use incorporating case studies, lecture and discussion. In addition, the course will discuss financing and various sources of risking all aspects of the development process.
|
Eligible for Continuing Education Credits withBOMI |
 |
Eligible for Continuing Education Credits with CIP |
COURSE CONTENT
- Overview of the development function, the value added by development and the development process
- The development team and their roles
- The feasibility analysis exercise including site analysis, zoning, market analysis, design, cost estimation, financial analysis and highest and best use
- The development process
- Management and key sources of risk at different phases of the development process
- Financing the development process – issues, risks and pricing
- Perspectives of the various stakeholders – developers, investors, customers, lenders, consultants, service providers, neighbours and regulators
KEY LEARNING OUTCOMES
- Clearer knowledge of the goals and value added by the Developer
- Familiarity with the skills and experience required of a Developer
- Greater awareness of the risks and benefits in the development process
- Knowledge of the design, marketing and sales aspects of development
- Experience in financial analysis and modeling of development projects
- Understanding of the pricing and sources capital and expectations of capital providers
WHO SHOULD ATTEND
- Developers looking to deepen their understanding of development and are keen to interact with other industry professionals
- Professionals wishing to pursue a career in real estate development
- Owners looking to gain a better understanding of the benefits and risks of development and redevelopment
- Investors looking to invest in a real estate development or engage third party developers
- Client service professionals to the development industry looking to broaden their understanding of their clients’ needs
Please Click Here for a Manager Justification Letter
COURSE INSTRUCTOR
- Dr. Avis Devine, Associate Professor, Brookfield Centre in Real Estate & Infrastructure, Schulich, York University
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Finance & Investment
This course combines theory and industry practice to help participants examine current topics and emerging issues in the increasingly complex world of real estate finance and investment.
More about Finance & Investment Less about Finance & Investment
Finance & Investment
The market for commercial real estate investment continues to evolve and integrate with broader investment and capital markets. This course combines theory and industry practice to examine current topics and emerging issues in the increasingly complex world of real estate finance and investment.
The primary objective of the virtual course is to introduce tools and refine concepts and techniques that will improve investment, financing and risk management decisions. The course will explore both the “micro-level” pertaining to individual properties and deals, and “macro-level” portfolio and investment management considerations. It is designed to be interactive, with attendees encouraged to participate during lectures and case studies.
|
Eligible for Continuing Education Credits with BOMI. |
COURSE CONTENT
- The evolution of real estate as an asset class
- Real estate capital market perspectives, trends and emerging innovations
- Structuring the financing of property investment: the “capital stack”
- Investment analysis and valuation of existing (built) properties
- Ratio and discounted cash flow techniques: cap rates and discount rates
- Commercial mortgage capital sources and mortgage underwriting
- Debt financing: impact on risk, return and valuation over the cycle
- Financial analysis of real estate development projects
- The role of real estate in modern mixed asset portfolios
- Public versus private market pricing of real estate equity
- Assessing, pricing and managing real estate investment risk
WHO SHOULD ATTEND
- Commercial real estate professionals with some exposure to finance, investment and/or valuation
- Professionals interested in a more in-depth treatment of the concepts and applications critical to the finance and investment function
- Professionals who specialize in more singular (yet related) functional areas (such as finance, acquisitions, accounting, development)
- Professionals who are keen to explore cutting edge analysis and be exposed to the finance & investment function’s broader context and how it integrates into the larger business
It is expected that participants will have a basic understanding of time value of money concepts and be somewhat familiar with the use of a financial calculator (and/or the finance functions in MS-Excel).
Please Click Here for a Manager Justification Letter
KEY LEARNING OUTCOMES
- Explain why and how institutions invest in real estate
- Value income property using a variety of metrics
- Appreciate the importance of “below NOI” line items in pro formas
- Underwrite a commercial mortgage loan
- Relate cap rates to discount rates, bond yields and property income growth
- Link investors’ expected equity returns to property level returns, debt costs and leverage amount
- Quantify the incremental risks associated with the use of debt financing
- Understand CMBS, CRE CDOs and mezzanine debt and their roles in the credit crisis
- Calculate the incremental cost of additional layers of debt financing
- Derive a net present value and IRR for a development project
INSTRUCTOR
- Dr. Jim Clayton, Professor & Timothy R. Price Chair, Brookfield Centre in Real Estate & Infrastructure, Schulich School of Business, York University
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Law
This course will focus on the legal underpinnings of real estate, regulatory controls over real estate, and legal best practice in effecting transactions including purchase and sale, leasing and financing.
Law
Commercial real estate is an industry where law and business are intertwined. Title and tenure, planning and land use regulation, and legal contracts such as leases, purchase agreements, construction contracts, loan documents and development agreements play a major role in creating cash flows, reducing risk, ensuring compliance, and ensuring desirable outcomes. Get it wrong, and losses and costs can mount and risks can increase. Understand the legal side, and avoid or substantially reduce risk in real estate transactions.
This virtual course will focus on the legal underpinnings of real estate, regulatory controls over real estate, and legal best practice in effecting transactions including purchase and sale, leasing, financing, construction and development.
|
Eligible for Continuing Education Credits with BOMI |
 |
Eligible for Continuing Education Credits with CAAMP |
COURSE CONTENT
- Title and Tenure
- Surveys and Searches, David Carter
- Specific Interests in Land, David Carter
- Zoning and Land Use Regulation
- Acquisitions and Dispositions, David Carter
- Mortgage Financing, David Carter
- Leasing
- Construction Law
KEY LEARNING OUTCOMES
- Know the sources of law
- Understand structuring risks and issues with title
- Become familiar with the regulatory environment, and strategies to manage development
- Craft effective acquisition and disposition strategies
- Understand the mortgage and key deal terms
- Discover leasing issues and best practice
- Learn the major construction documents and construction processes
WHO SHOULD ATTEND
The virtual course will be of interest to the following real estate and lending industry participants: Property Owners, Investors and Developers, Mortgage and Property Brokers, Mortgage and Loan Servicers, Asset Managers, Appraisers, Lawyers, Accountants, Financial Regulators, among other types of stakeholders.
Please Click Here for a Manager Justification Letter
COURSE INSTRUCTOR
- David Carter, Partner, Grechi Carter
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Lending
The primary objective of this course is to identify and understand the goals and underwriting methods of real estate lending and explain the rationale behind varying structures and approaches.
Lending
The primary objective of this virtual course is to identify and understand the goals and underwriting methods of real estate lending and explain the rationale behind why varying structures and approaches are used by different lenders. In addition, the curriculum will include a combination of theory and practice, providing real-world financing examples from within the Canadian marketplace as well as comparing it with other markets, together with utilizing a combination of lectures, interactive panel discussions and business cases to provide students with a fulsome and interactive learning experience.
|
Eligible for Continuing Education Credits with BOMI. |
|
Eligible for Continuing Education Credits with CAAMP. |
COURSE CONTENT
- The use of debt and financial leverage – identifying what is the right amount
- The Canadian commercial mortgage market: identifying players, market size and share by lender type
- How different lenders lend and why – funding sources, preferences and motivations
- How lenders employ financial leverage themselves – the economics behind financial institutions
- Identifying assets classes by relative volatility and financeability in Canada
- Investment real estate vs. business (operating) real estate – identifying underwriting differences
- The 8 C’s of mortgage loan underwriting
- Structuring commercial loans by type: construction, term and revolver
- Identifying underwriting metrics and assessing future refinance risks
- Floating vs. fixed – benefits and limitations of each
- Breakage costs: swaps, yield maintenance and defeasance
- Senior secured vs. senior unsecured – what’s the difference and who qualifies?
- Understanding the differences between A/B notes and 1st mortgage/2nd mortgage loan structures
- Loan syndication – where, how and why?
- Market downturns and mitigating risk – amendments, extensions and other loan modifications
- Loan defaults and foreclosure – understanding lenders’ options, rights and remedies
- Lessons learned from the past – both from locally and abroad
- Where are we now? Current and emerging market trends
KEY LEARNING OUTCOMES
- Clearer knowledge of the general goals of employing leverage
- Familiarity with the skills and experience required of being a lender
- Greater awareness of the rationale and benefits and limitations of different loan structures and features
- Ability to calculate key performance metrics used by lenders in underwriting a loan
- Better understanding of the Canadian lending landscape, who the major players are and how and why they lend
WHO SHOULD ATTEND This course will be relevant to the following lender types:
- Commercial and corporate banks
- Insurance companies
- Pension funds
- Trust companies
- Credit unions
- Private lenders and other non-bank financial institutions
- Mortgage investment corporations and mortgage REITs
- Foreign lenders
- CMBS and conduit lenders
In addition, the course will be of interest to the following real estate and lending industry participants: Property owners, investors and developers, mortgage and property brokers, mortgage and loan servicers, asset managers, appraisers, lawyers, accountants, financial regulators, among other types of stakeholders.
Please Click Here for a Manager Justification Letter
INSTRUCTOR
Daniel Simunac, Principal Officer & Country Head, Canada, Raymond James Bank.
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Leasing
This course will allow attendees to examine the relationship between strategic leasing, asset values and real estate management.
Leasing
Become knowledgeable about the leasing process from experienced industry leaders on the owner/tenant/brokerage sectors in the Toronto leasing market. This course will allow attendees to examine the relationship between strategic leasing, asset values and real estate management. Registrants will learn from industry leaders about the importance of structuring sound leasing transactions to leverage the value of the workplace and return value to the enterprise.
Key learning outcomes:
- Discover the benefits and risks of leasing vs. owning
- Learn the terminology
- Learn about workplace trends and drivers
- Recognize the importance of market data
- Appreciate leasing’s role in projects and value creation
- Learn about the negotiating process
- Discover the top 10 clauses to protect or negotiate
COURSE INSTRUCTOR
John Peets, Vice President, Head of Office Leasing, Oxford Properties Group
LOCATION
Live Zoom Webinar
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
 |
Eligible for Continuing Education Credits with BOMI. |
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
Valuations
This course will provide participants with a practical understanding of valuation methodologies and techniques in all major asset classes and will include real world case studies and valuation modelling exercises.
Valuations
This course is being offered in collaboration with Altus Group
This course will provide participants with a practical understanding of valuation methodologies and techniques in the context of all major asset classes and will include real world case studies and valuation modelling exercises. It will also address some of the key differences in valuation issues and techniques and their impact as well as emerging valuation trends and technologies.
|
Eligible for Continuing Education Credits with BOMI |
 |
Eligible for Continuing Education Credits with AIC. |
 |
Eligible for Continuing Education Credits with RICS. |
COURSE CONTENT
- Background to valuation including market factors (supply and demand), legal issues, definitions, highest and best use
- Standard methods of valuation and an introduction to the three primary approaches
- Real estate leases and their analysis for valuation purposes
- Discounted cash flow modelling, capitalization rates, discount rates and data sources
- Valuation methodology and modelling exercise based on multi-tenant industrial property and multi-tenant office building examples
- Case study for an office valuation exercise
- Introduction to Argus DCF modelling software
- Valuation methodology and modelling exercise based on a retail property
- Case study for a retail property valuation exercise
- Global valuation standards and emerging trends in valuation including new technologies and techniques
KEY LEARNING OUTCOMES
- Know which primary and secondary valuation approaches to use for all asset types
- Critically review a cash flow pro forma and identify the key valuation issues, including sensitivity of assumptions
- Understand the appropriate applicable valuation techniques and assumptions to use for different asset classes
- Complete and review a basic cash flow model for an income producing property
WHO SHOULD ATTEND This course will be of benefit to those active in the areas of underwriting, acquisition/ disposition, investment sales, property and asset management, and valuation. It is designed for those with under 10 years of experience and /or those who have only moderate exposure to valuation issues and wish to increase their proficiency.
Please Click Here for a Manager Justification Letter
INSTRUCTORS
- Philip Smith, Executive Vice President, Altus Group
- Michael Wootton, Vice President, Central Canada, Altus Group
COURSE FEES
- REALPAC Member Company*: $1,295.00
- Non-Member Company: $1,495.00
*To determine if your company is a REALPAC Member, click here.
CANCELLATION POLICY
REALPAC reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
