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“City Building”: The Live – Work – Play Paradigm

2012 Guest Speaker

Douglas T. Linde President and Director

2012 Guest Speaker

David Frum Best Selling Author & Political Analyst

2012 Guest Speaker

David Miller Former Mayor of & Former Head of the C40 2012 REALpac Chief Executives Retreat Welcome To Boston!

2012 REALpac Chief Executives Retreat Greetings from the Governor

2012 REALpac Chief Executives Retreat Guest Speakers

Douglas T. Linde – President & Director adviser to the Rudy Giuliani presidential campaign. Frum is a Boston Properties  Keynote Speaker member of the board of directors of the Republican Jewish Mr. Douglas T. Linde has been a director Coalition. David Frum was born in Toronto, Canada in 1960. He since January 21, 2010. Mr. Linde serves as received a simultaneous B.A. and M.A. in history from Yale in 1982. President of Boston Properties, Inc. Prior to his He was appointed a visiting lecturer in history at Yale in 1986; in appointment to this position in May 2007, he 1987, he graduated cum laude from the Harvard Law School, served as Executive Vice President since where he served as president of the Federalist Society. January 2005 and he also served as Chief Financial Officer and Treasurer from 2000 until November 2007. He joined Boston Properties in January 1997 as Vice President of Acquisitions and New Business David Miller – Partner, Aird & Berlis, (Mayor to help identify and execute acquisitions and to develop new of Toronto from 2003 - 2010, former Chair of business opportunities and was promoted to Senior Vice President the C40 and Urban Green Jobs Advocate)  for Financial and Capital Markets in October 1998. Guest Speaker & Moderator – Session A David’s experience, international activities Prior to joining Boston Properties, Mr. Linde served from 1993 to 1997 and strong public profile is generating as President of Capstone Investments, a Boston significant opportunity for the firm to enhance investment company. From 1989 to 1993, he served as Project its international presence. As Mayor of Manager and Assistant to the Chief Financial Officer of Wright Toronto, David led trade missions to, and Runstad and Company, a private real estate developer in Seattle, gave major speeches in numerous European, WA. He began his career in the real estate industry with Salomon American and Latin American cities, Hong Kong, and mainland Brothers’ Real Estate Finance Group. China.

While in , David was the Chair of the C40 Climate Leadership Mr. Linde is a member of the Board of Directors of Beth Israel Group, comprised of the Mayors of the world’s leading cities Deaconess Medical Center and serves on the Finance Committee. working in partnership with the Clinton Climate Initiative. David has He is a member of the Real Estate Roundtable and serves as a been succeeded as Chair of the C40 by Mayor Michael director of the Boston Municipal Research Bureau and Jobs for Bloomberg of . At the request of Mayor Bloomberg, David . Mr. Linde also serves on the Urban Studies and will continue to be formally involved with the work of the C40. Planning Visiting Committee at MIT. Mr. Linde received a BA from Wesleyan University in 1985 and an MBA from Harvard Business Since leaving office, David has been appointed as an advisor to School in 1989. the World Bank and the OECD, and is affiliated with the Club de Madrid (the International organization of former Presidents and Prime Ministers). He has also been appointed to the Boards of the Suzuki Foundation and Cape Farewell Canada, as well as SAIL David Frum – Best Selling Author and Political Capital Partners' Advisory Board. David is working as an advisor to Pundit  Guest Speaker international businesses interested in sustainability. David Frum captivates audiences with his observations of political leadership, his commentary on events of the day and his opinions on Canada-US relations. He examines the major issues shaping the 2012 election and crisis of governance in America that both parties must address in order to affect change. One of the leading political intellectuals in America, David has a profound influence in politics, and his opinions and advice are widely respected and called upon.

The Journal dubbed him one of the leading political commentators of his generation. He is also cited as one of the top 100 public intellectuals in America. Political speechwriter, author, journalist, and commentator, David Frum is at the top his game.

Frum is an expert on Canada-US relations, and leads discussion on social and political issues of the day. Whether it is the war on terror or the inner workings of the White House, David offers refreshing and clear insights of complicated issues. Frum is a contributing editor at Newsweek and The Daily Beast and a CNN contributor. He is the author of seven books, including most recently, his first novel Patriots published in April 2012.

In 2001-2002, David Frum served as a special assistant to President George W. Bush. In 2007-2008, he served as senior foreign policy

2012 REALpac Chief Executives Retreat Moderators and Panelists

Kevin J.E. Adolphe – COO, Investments, Chairman of Brookfield LePage , a major Financial, and President & CEO, Canadian facilities management company. His previous Manulife  Panelist – Session C experience includes , Cambridge Leaseholds, Coscan and Gentra. Mr. Arthur received his honors degree in Kevin Adolphe holds several senior executive Urban and Regional Planning from the University of Waterloo and positions with Manulife Financial Corporation his Master of Science in Urban Land Economics from the University including Chief Operating Officer of of British Columbia. He is a member of the World Presidents’ Investments, and President and CEO of the Organization, REALpac, ULI and NAIOP, and ICSC. Company’s global real estate arm, Manulife Real Estate. In addition, Kevin is Chair and CEO of Manulife Real Estate Funds, and a Director and Chair of the

Audit Committee of NAL Resources Management Limited, Michael Cooper – Vice Chairman & CEO, subsidiary groups of Manulife Financial. Kevin is a member of Dundee REIT  Panelist – Session C Manulife Financial’s Management Committee and a Trustee for the Manulife UK Pension Plan. Michael Cooper has worked in the and property management As COO of Investments for Manulife Financial, Kevin has overall industry since 1987. He currently holds the responsibility for all finance, market risk management, securities position of Vice Chairman and Chief Executive operations, mortgage administration, derivatives and middle office Officer of Dundee REIT in which capacity he is operations, systems and functions in spanning Toronto, focused on strategy, acquisitions, capital Boston, Asia and the United Kingdom. Kevin is also responsible for markets and investor relationships. He held the position of Chief the Company’s global real estate portfolio and as President and Executive Officer of Dundee Realty Corporation from its creation in CEO of Manulife Real Estate, Kevin has overall accountability for 1996 to its restructuring into Dundee REIT in 2003, during which time the strategic management and operations of Manulife’s extensive it grew from under $5 million worth of assets to over $1 billion. Prior and diversified portfolio of prime office and industrial properties in to joining Dundee Realty, Mr. Cooper was a Vice-President of key metropolitan centers throughout Canada, the Goodman & Company, responsible for investments in real estate and Asia. and for establishing and co-managing the Dynamic Real Estate Funds. Mr. Cooper also served as Vice-President of both marketing Prior to joining Manulife in 2006, Kevin served as Chief Control and development for Twigg Holdings Limited, a private developer Officer with CIBC, one of Canada’s major banks, playing a lead and manager of urban office buildings, primarily in downtown role in governance and internal control frameworks across the Toronto. Mr. Cooper currently sits on the Board of Directors of bank. In addition, Kevin served as Chair of the Audit Committee for Cancer Care Ontario, Dundee Capital Markets, Dundee the joint venture in CIBC Mellon as well as Chief Financial Officer Corporation, Lakefield Foundation, Power Plant Gallery and United and Chief Administrative Officer for CIBC World Markets. He has Corporations Limited. He holds a law degree from the University of extensive experience in derivatives and managing Capital market Western Ontario and received a Masters in Business Administration middle and back office functions. During his career, Kevin has from York University in 1986. worked in Canada, England and Australia. ………………………………………………………………………………………………………………….

Paul Finkbeiner – President, Great West Life Kevin holds a Bachelor of Commerce from the University of Toronto Realty Advisors  Panelist - Session A and is designated with both the Canadian and Ontario Institutes of Chartered Accountants as well as the Canadian Institute of Mr. Finkbeiner has responsibility for the overall Certified Management Consultants. He is a member of the Board management and growth of GWL Realty of Trustees for Trinity College, University of Toronto, the Institute of Advisors real estate portfolio, including Corporate Directors and a member of the Ontario Chapter of strategic direction, business development, Young Presidents’ Organization (YPO). asset and property management and specialized real estate advisory services to pension funds and institutional clients. Under his leadership, GWL Realty Advisors Inc. has David Arthur – President & CEO, Brookfield Real achieved significant overall growth since 1996, increasing assets Estate Opportunity Fund  Panelist - Session B under management from $800 million to over $13 billion, and is one Mr. Arthur is Managing Partner, North America of Canada’s largest real estate organizations managing office, Real Estate Investments, Brookfield Asset industrial, and multi-residential space totalling approximately Management and also the President and 60 million square feet in over 300 properties located across the Chief Executive Officer of the Brookfield Real country. Mr. Finkbeiner has over 24 years experience in the Real Estate Opportunity Fund I & II, real estate Estate Industry. Prior to joining GWL Realty Advisors, Mr. Finkbeiner opportunity funds investing in high yield office, spent 7 years with various companies within Carena Development industrial and residential real estate Limited, including Trizec Corporation, Brookfield Properties and opportunities in major markets in the United States and Canada. Trilea Shopping Centres. The funds have invested in over 20 million square feet of properties; he has played a leading role in over $40 Billion of real estate Mr. Finkbeiner holds both a Bachelor and a Master of Applied transactions at Brookfield. In addition, Mr, Arthur is a Director of Science degree from Queen’s University and also holds a Master of Rouse Properties Inc. Prior to joining the fund, he was President and Business Administration degree from McGill University. Chief Executive Office of Brookfield Properties Ltd. Responsibilities included Brookfield’s business in Canada as well as in Denver, Minneapolis and southern . Mr. Arthur was founding

2012 REALpac Chief Executives Retreat Moderators and Panelists

Blake Hutcheson – President & CEO, Oxford Peter Menkes – President, Industrial and Properties Group  Moderator - Session C Commercial Division, Menkes Developments Blake Hutcheson is responsible for Oxford’s Inc. REALpac Board Member  Panelist - Session A overall business including its long term Peter Menkes joined the Company in 1982 and, strategy and objectives, and leading the today, heads the Industrial/Commercial Division executive management team in the in the capacity of President. Under Peter’s execution of the global business plan. He will leadership, the Company has developed and also lead Oxford’s capital under managed over 20 million square feet of office, management strategy and relationship- industrial and retail space across the GTA. building efforts with key partners around the world, and actively participate in OMERS capital raising initiatives. Notable projects that have embodied Peter’s vision include the Transamerica Tower at 5000 Yonge Street, Empress Walk, a 250,000 Mr. Hutcheson was most recently Head of Global Real Estate with sq.ft. retail entertainment centre, 25 York Street, home of and Mount Kellett Capital Management, a New York-based private one of the First LEED Gold Buildings in Canada, the Beaver Creek equity firm with offices in key locations around the globe. Prior to Business Park and the AeroCentre Office Park. The Company that, he spent 14 years with CB Richard Ellis in Toronto, most oversees the day-to-day operations and management of over six recently as President of the Canadian, Latin American and million square feet of prominent office, industrial and retail space, Mexican operations. including landmark buildings such as the Procter & Gamble Canadian Headquarters at 4711 Yonge Street; the Transamerica He holds a Bachelor of Arts in Political Science from the University of Tower; Telus Tower; Consilium Place and Somerset Plaza. Western Ontario, a Graduate Diploma in International Relations and Comparative Politics from the School of Economics Peter has an undergraduate degree – BSc. in Business and a Masters in Real Estate Development from Columbia Administration – from Boston University School of Management and University. is an active member of industry associations including REALpac and NAIOP. He takes a keen interest in community affairs and is a member of a number of organizations, including the Board of North …………………………………………………………………………………………………………………. York Hospital Foundation, the Board of Governors of the Technion Roger Johnson – Senior Vice President, University in Israel, and, the Chair of the Bathurst Jewish Community Enterprise Real Estate, TD Bank Group  Centre Square Development Community. Panelist - Session B In October 2008, Roger Johnson joined TD Bank …………………………………………………………………………………………………………………. Financial Group as Senior Vice President, Thomas Schwartz – President & CEO, CAPREIT Enterprise Real Estate. REALpac Board Member  Panelist - Session B Tom Schwartz graduated as a Chartered Roger joins TDBG from Bank of America where Accountant in 1975 and went on to pursue a he led real estate for its Small Business and career in real estate development. Tom Global Consumer businesses. Before joining founded Intraurban Projects to specialize in Bank of America, Roger was Vice President, Development – East the development of new housing projects in Division for McDonald’s Corporation where his responsibilities mature communities. Intraurban built and included all real estate development activity and managing 6,000 developed over 2500 housing units serving all sites on the East Coast of the United States. market segments and through York Heritage Properties has participated in the development, construction, and management Roger leads the Enterprise Real Estate team for TDBG which of over 600,000 sq. ft. of commercial space. includes the Corporate and Retail Real Estate groups in Canada and the United States. In his role, Roger is leading strategy and the In 1997, Tom Schwartz, founded Canadian Properties execution for global real estate operations, supporting TDBG’s Real Estate Investment Trust (“CAPREIT”), Canada’s first apartment business objectives and delivering outstanding, efficient real estate real estate investment trust. Tom currently is President and C.E.O. of services. CAPREIT. CAPREIT currently owns over 36,000 apartment suites and land lease sites located in or near major urban centres from coast Creating a centre of excellence with a new enterprise-wide real to coast. Tom Schwartz is active in industry and government affairs estate platform and focus will ensure TDBG Real Estate capabilities and is currently on the Board of Trustees of CAPREIT; the Board of continue to be a competitive advantage for TDBG. In his spare Directors of Chartwell Seniors Housing REIT; the Board of Directors of time Roger enjoys boating and playing golf. Roger cherishes the REALpac; and the Board of Directors of the Mount Sinai Hospital ladies in his life; his wonderful wife of many years and their lovely Foundation. Tom is also a member of the Schulich School of daughter. Business Advisory Council – Program in Real Estate and Infrastructure.

2012 REALpac Chief Executives Retreat Moderators and Panelists

Dori Segal – President & CEO, First Capital John Sullivan – President & CEO, The Realty Chairman of the REALpac Board  Cadillac Fairview Corporation Limited Moderator - Session B REALpac Board Member  Panelist - Session A Mr. Segal is President and Chief Executive John is the President and Chief Executive Officer of First Capital Realty Inc. He is also, Officer at Cadillac Fairview, one of North the Executive Vice Chairman of First Capital America's largest real estate companies Realty’s largest shareholder, Gazit-Globe, with over $19 billion in assets. Prior to Israel’s largest real estate investment receiving his promotion to CEO in January company. Dori also serves as Vice Chairman of 2011, he was the company’s Executive Vice President, of Equity One Inc. and Chairman of the Real Development. John has also worked with Brookfield Properties Property Association of Canada (REALpac). An independent Corporation and Marathon Realty Company Limited. businessman since 1984, he joined Gazit in 1993 both as a principal investor and a senior member of the management team. He had a Throughout John's career, he has been involved in all aspects of leading part in the growth of Gazit, which operates and owns commercial real estate, including acquisitions, dispositions, leasing, properties with a total value of over US $18 billion in North America, finance, asset management and development. Europe, Israel and Brazil.

John has a Bachelor of Civil Engineering from Concordia University Since 1997, he has been active in the acquisition, development in , an MBA in Finance from McGill University in Montreal and redevelopment of shopping centres in Canada. He was and has completed Harvard’s Advanced Management Program. mainly responsible for the purchase of Gazit’s initial portfolio in …………………………………………………………………………………………………………………. Canada and then played a key role in the acquisition of First Raymond Torto Ph.D. – Global Chief Capital Realty Inc. (formerly known as Centrefund Realty Economist, CBRE  Panelist - Session C Corporation) in August 2000. Since then, First Capital Realty has become Canada’s leading owner, developer and operator of Raymond Torto is the CBRE Global Chief supermarket and drugstore anchored neighbourhood and Economist and serves as the Company’s community shopping centres in growing urban markets across primary spokesperson on the global economy Canada. First Capital Realty has interests in 172 properties and commercial real estate markets. Dr. Torto including 6 under ground up developments, totaling approximately is also the Executive Managing Director of 24.1 million square feet. CBRE Global Research and Consulting CBRE’s worldwide team of commercial real estate …………………………………………………………………………………….. market analysts and economists.

Peter Senst – Executive Vice President, Dr. Torto has successfully performed in various policy and CBRE  Moderator - Session C management positions in academic and government arenas as a Peter joined CBRE Limited in October 1989. Professor of Economics, Department Chairman and Director of the He specializes in investment sales and heads Public Policy Institute at the University of Massachusetts and as a the CBRE National Investment Team, government official in the City of Boston. After gaining valued Toronto. Peter has been the top sales person experience in these sectors, he built on his knowledge and for CBRE Canada numerous times and is a expertise by becoming a founding principal of Torto Wheaton member of the Canadian Board of Directors Research (TWR), an internationally recognized commercial real and Executive Management Committee. estate research company. Soon after its founding, TWR was Also, he is the Managing Director of the Canadian Global Capital acquired by CBRE and is now branded as CBRE Econometric Advisory Program, and a member of the CBRE Global Transaction Advisors. team. Dr. Torto has authored four books and numerous academic and Peter has completed more than $30 billion in sales across Canada professional articles on economics and commercial real estate. He and in the past 24 months alone has completed over $5 billion of is a frequent speaker at industry events and is often quoted in the real estate transactions. Major transactions have included Scotia global real estate press. Dr. Torto is active in many real estate Plaza ($1.3 B); Ivanhoe Cambridge Enclosed Shopping Centre organizations including service as Treasurer, Vice Chairman and Portfolio 50 % Interest ($1.2 B); Downtown Class Chairman of Pension Real Estate Association (PREA) and as a “A” office Portfolio ($1.05 B); Toronto Metro Toronto Convention Director of the PREA Board. He is also a Senior Fellow of the Real Complex ($237 M); The Four Seasons hotel redevelopment ($225 Estate Research Institute and a Fellow of the Homer Hoyt M); Place d’Orléans Enclosed Shopping Centre ($186 M); The Pauls Advanced Studies Institute as well as a member of Urban Land Canadian Industrial Portfolio ($175 M); and The Menkes Brampton Institute, American Real Estate Association and a Counselor of Real Industrial Portfolio ($110 M). Estate.

Dr. Torto is a co-recipient with Bill Wheaton of the 2007 James A.

Graaskamp Award for Real Estate Research Excellence and is

currently an adjunct professor at Harvard University’s Graduate School of Design. Dr. Torto holds a Ph.D. in Economics from Boston College.

2012 REALpac Chief Executives Retreat Moderators and Panelists

Gregory S. Vorwaller – Global Head of joined ITT in 1990 serving in a number of financial positions including Capital Markets, Cushman & Wakefield Inc. Vice President and Deputy Controller. During his tenure at ITT, Mr.  Panelist - Session C Wood was directly involved in the split up of that company in 1995 Gregory S. Vorwaller is Executive Vice and in numerous acquisitions and divestitures over the years, President, Global Head of Cushman & including Caesars World. Prior to ITT, Mr. Wood was employed as Wakefield’s Capital Markets group. Vice President of Finance for Trump Taj Mahal Associates. Mr. Greg, who has nearly 30 years of experience Wood began his career at Arthur Andersen LLP, where he served in financial services and commercial real numerous real estate clients, including the Trump Organization, estate, is one of the industry’s most and was instrumental in developing and expanding the firm’s profit experienced property investment and finance executives. He was improvement practice. previously Chief Operating Officer of Capital Markets and President of the Investment Properties Group for CB Richard Ellis. Mr. Wood received a Bachelor of Science degree from Montclair State College where he graduated with honors. He received his As Global Head of Capital Markets, Greg is in a key role to further strengthen our core services and elevate their delivery to clients on CPA from the state of and serves on the board of a consistent basis worldwide. Greg is responsible for all aspects of governors of the National Association of Real Estate Investment the firm’s services in the areas of acquisition, disposition, financing Trusts (NAREIT) as chair, the board of trustees of the International and recapitalization of commercial real estate worldwide. He is Council of Shopping Centers (ICSC), the board of directors of The located in Chicago, which enhances the firm’s profile in the Real Estate Roundtable and the board of directors of Post second largest office market in the United States. Properties. Mr. Wood also serves as the chair of the Metro D.C. Chapter of the Cystic Fibrosis Foundation. He is a member of the Throughout his career, Greg has maintained a particular focus on advising institutional investors on real estate investment strategies, U.S. Capital Chapter of the Young Presidents’ Organization. Also, in structured finance, real estate securitization and property sales. June 2005, Mr. Wood was named a winner by professional services And for more than a decade, he oversaw CBRE's Investment firm Ernst & Young LLP for the Ernst & Young Entrepreneur of the Properties division. Year® 2005 Awards in Greater in the Real Estate category. Prior to CB Richard Ellis where he spent 17 years, Greg was a Vice President with The First National Bank of Chicago and prior The Balcor Company. He is also well known in the pension fund industry, having worked with Institutional Property Consultants and having founded the real estate consulting practice of William M. Mercer's Asset Planning Group. Over the course of his career he has been responsible for more than $6 billion in property sales, debt financings, and sale/leaseback financings.

Greg is a member of Cushman & Wakefield’s Management Committee, which sets the strategic direction for the firm. He also sits on the Advisory Board of the Graaskamp Center for Real Estate at the University of -Madison, and is an active member of ULI.

…………………………………………………………………………………………………………………. Don Wood – President & CEO, Federal Realty Investment Trust  Panelist - Session B Don Wood is President and Chief Executive Officer of Federal Realty Investment Trust and serves as a member of the Trust’s Board of Trustees. Mr. Wood joined Federal Realty in 1998 as Chief Financial Officer. In 1999, he served as Senior Vice President and Chief Operating Officer and in 2000 was promoted to President and Chief Operating Officer. Mr. Wood also serves as chair of the Trust’s Investment Committee.

Prior to his affiliation with the Trust, Mr. Wood served as Senior Vice President and Chief Financial Officer of Caesars World, Inc., a wholly owned subsidiary of ITT Corporation. In this position, he was responsible for all aspects of finance throughout the company including strategic planning and forecasting, process reengineering, capital allocation and financial analysis. Mr. Wood

2012 REALpac Chief Executives Retreat Retreat at a Glance – Program & Schedule

DAY ONE  SUNDAY, OCTOBER 21, 2012 LUNCHEON & KEYNOTE ADDRESS  “US Office Markets” Hamilton Room  Spouses/Companions Welcome CHECK-IN  The Ritz-Carlton, Boston Common 12:30 - 15:00 14:00 KEYNOTE SPEAKER: Douglas T. Linde, President & Director 10 Avery Street, Boston, MA  T: 617-574-7100 Douglas T. Linde is the President & Director of Boston Properties. 18:00 - WELCOME RECEPTION  Avery Bar (off the hotel lobby)  20:00 Spouses/Companions Welcome TOUR  Tour of Boston Seaport Joe Fallon, CEO, Fallon Company; Andy W. Hoar, DAY TWO  MONDAY, OCTOBER 22, 2012 Regional President, CBRE; Paul M. Crowley, Managing 14:15 - 07:45 - BREAKFAST  Hamilton Room  Director, Manulife Financial, U.S. Corporate Real Estate 17:00 09:00 Spouses/Companions Welcome Presentation by the developer of One Marina in the Seaport district, st 09:00 - OPENING REMARKS  Paul Morse, CEO, REALpac  and tour of the John Hancock corporate headquarters—1 LEED 09:05 Washington Room Platinum building in New England. PRESENTATION  “City Building”  Washington Room RECEPTION & DINNER  Mistral Bistro  223 Columbus 19:00 Avenue, Boston, MA  T: 617-867-9300 David Miller, Partner, Aird & Berlis, (Mayor of Toronto from Spouses/Companions Welcome 2003 to 2010, former Chair of the C40, and Urban Green 09:05 - Jobs Advocate) DAY THREE  TUESDAY, OCTOBER 23, 2012 09:30 As a former mayor of Canada's largest and most diverse city, David 07:15 - BREAKFAST  Hamilton Room  Miller understands the economic, environmental and social 08:30 Spouses/Companions Welcome challenges faced by city leaders. During his two terms as mayor, Miller's mandate was to make Toronto a city of prosperity, livability PRESENTATION  “Politics and the Economy”  Hamilton and opportunity. Room  Spouses/Companions Welcome PANEL SESSION A  “The Live – Work – Play Paradigm”  Washington Room Washington Room PRESENTER: David Frum, Best Selling Author and Political The high price of energy, the low cost of money, gridlock, the Analyst densification of industry/sector clustering and the desire to own a 08:30 - home, has caused many developers to study and adopt the “Live- 09:30 David Frum captivates audiences with his observations of political Work-Play” concept. leadership, his commentary on events of the day and his opinions on Canada-US relations. With the presidential election just around What impact has this had on the office and retail markets? What are the corner what will the broad implications for Canada be should some of the challenges facing cities with such developments? What Romney or Obama win. What are the benefits and challenges for 09:30 - threats and opportunities do developers and owners face in these business in general, trade relations, the resource sector, cross 10:45 zones? How is this playing out in Canada? boarder relations and broader foreign policy. MODERATOR: David Miller, Aird & Berlis PANEL SESSION C  “Investment Leadership”  ANELISTS: P Washington Room  Paul Finkbeiner, President, Great West Life Realty Where around the world is the smart money headed? What are the Advisors  Peter Menkes, President, Industrial and Commercial real estate investment opportunities outside of Canada? What are Division, Menkes Development Inc. the opportunities and risks doing business today? How is the Euro-  John Sullivan, President & CEO, The Cadillac Fairview Zone -Dept Crisis influencing short term and long term strategy? Corporation MODERATOR: Blake Hutcheson, President & CEO, Oxford Properties Group 10:45 - PANELISTS: Refreshment Break 09:30 - 11:00  Peter Senst, Executive Vice President, CBRE 11:00 PANEL SESSION B  “North American Trends in Development,  Gregory S. Vorwaller, Global Head of Capital Opportunistic Acquisitions, and Tenant Demand”  Washington Markets, Cushman & Wakefield Inc. Room  Michael Cooper, Vice Chairman & CEO, Dundee REIT What are the changes in the demand for multi-family, office and retail  Kevin J.E. Adolphe, COO, Investments, Manulife space? How will these trends impact the development of our cities Financial, and President & CEO, Manulife Real and regions? Where are the opportunistic acquisitions in the U.S? Estate Listen to an outstanding panel of office, multi-res and retail owners  Raymond Torto, Ph.D., Global Chief Economist, and investors address these questions and others. CBRE 11:00 - MODERATOR: Dori Segal, President & CEO, First Capital 12:15 Realty Inc. 11:00 - CLOSING REMARKS  Paul Morse, CEO, REALpac PANELISTS: 11:05  Roger Johnson, Senior Vice-President, Enterprise 11:05 RETREAT ENDS  Check-out 12:00. Safe travels! Real Estate, TD Bank Group  Don Wood, President & CEO, Federal Realty Investment Trust  Thomas Schwartz, President & CEO, CAP REIT  David Arthur, President & CEO, Brookfield Real Estate Opportunity Fund

2012 REALpac Chief Executives Retreat AREA MAP

Reception & Dinner Hotel & Welcome Reception October 22, 2012 The Ritz-Carlton, Boston Common Mistral Bistro 10 Avery Street, Boston, MA 223 Columbus Avenue, Boston, MA T: 617-574-7100 T: 617-867-9300

2012 REALpac Chief Executives Retreat Delegates