Q. What does it mean to win this award?

A. It’s a big honour, not to mention an unexpected one! It’s particularly humbling because BOMA is such an important organization for the commercial real estate industry. It’s been around more than 100 years and has made a critical contribution through the establishment of best practices, building certifications and awards, education etc. It’s exciting to be recognized by such an impactful organization.

Q. How has the commercial real estate industry changed during your 45 years in the industry?

A. When I started, real estate was an alternative investment class for institutional investors like HOOPP. Today, it’s fully mainstream.

Also, the players have gotten bigger. It used to be primarily local entrepreneurs, but now the owners, tenants and investors are global with extremely sophisticated companies and very long-term views. As a result, we’re seeing higher quality buildings with much greater use of technology, a greater sensitivity to the health and well-being of building occupants, and buildings that are much more environmentally sustainable.

Q. Where do you see the commercial real estate industry going?

A. The big trends affecting the industry are:

• Urbanization: Cities will continue to get bigger and draw in a larger share of economic activity, while acting as cultural centres. So the real estate industry will continue to thrive as we continue to develop and intensify the use of the land.
• The building as community: There is a huge trend towards improving the well-being of the tenants of buildings. You see this in better systems and improved sustainability, and you also see it in buildings that incorporate more uses. Increasingly, buildings are not just office buildings; they incorporate residential and retail, as well as places of worship, schools and entertainment. There is much more of a sense of the building a community.
• Technology: It’s hard to predict technology, but there is no question buildings are becoming more sophisticated, with complex systems and sensors. A building is now more of a thinking machine than just a physical place. “SMART” buildings now sense and anticipate their occupants’ needs – from heating, lighting, and elevators to security and safety. We also see it in the construction of buildings where we use virtual models to anticipate what construction glitches we will encounter before construction even begins. Things are only going to become more sophisticated.

Q. What has been HOOPP’s contribution to commercial real estate?

A. HOOPP has a great track record and reputation, in Canada and globally. Our real estate team is highly regarded for our strategies and performance. As an example, five years ago, we doubled our holdings in industrial real estate (specifically, warehouses) – a timely and calculated risk that has been extremely successful thanks to the explosion in e-commerce.

We also punch above our weight on sustainability, and have been recognized globally for our contributions. We are creating great buildings, helping cities grow, all while making good returns to help us deliver the pension promise to our members.

Q. What are you most proud of?

A. It’s exciting to be a part of the commercial real estate industry. We are building structures that are both works of art and the biggest machines that humans make. And in the process we’re building communities, growing cities and driving the economy.

Also, for much of my career I was fortunate enough to work for pension plans where you have the privilege of knowing that your work is helping people retire with dignity.