Canadian Commercial Real Estate: Trends, Risks & Outlook
Roundtable Luncheon with Andrew Barnicke, Ugo Bizzarri and Jeremy Wedgbury
Andrew Barnicke, Vice Chairman & Managing Partner, Capital Markets Canada, Colliers International
Andrew leads Colliers’ Capital Markets Canada team, assisting clients acquire and dispose of institutional quality commercial real estate assets, source capital solutions and facilitate multi-market and international mandates.
Andrew has more than 30 years’ experience in commercial real estate, which includes serving as Partner and Senior Vice President at JJ Barnicke Limited, an independent commercial real estate firm which DTZ acquired in 2008. On behalf of clients, Andrew completed sales and financings in excess of $40 billion. Most recently, he was Co-Founder and President of Barnicke Investments & Consulting (BIC), a private equity real estate focused on mixed-use and change-of-use opportunities. One of BIC’s investments was the former Toronto Four Seasons hotel for $145 million which has been repurposed into two high-rise residential towers (800 units), a 50,000 SF office building and a 30,000 SF retail podium.
Andrew is active in his community and currently is a Board member of the Ivey School of Business Entrepreneurship, Council, Presentation Manor Seniors Living and Art Gallery of Ontario Curators Circle and the Guardian Capital Real Estate Fund.
Ugo Bizzarri, Senior Managing Director, Chief Investment Officer & Global Head of Direct and Debt Investments, Timbercreek
Ugo Bizzarri co-founded Timbercreek Asset Management in 1999 and is Senior Managing Director, Chief Investment Officer & Global Head of Direct and Debt Investments. Mr. Bizzarri is also a Director of Timbercreek Financial. In his role as Senior Managing Director/CIO, Global Head of Direct and Debt Investments, Mr. Bizzarri leads the team responsible for the acquisition & disposition of direct real estate and the underwriting & funding of commercial mortgage investments secured by direct real estate. Mr. Bizzarri and his team have been responsible for underwriting, financing and acquiring over $4.9 billion of multi-residential real estate and have constructed and managed a diversified debt portfolio of over $1.3 billion in Timbercreek-sponsored commercial mortgage investments.
Mr. Bizzarri has over 20 years of experience in the valuation, acquisition and disposition of investment-grade cash-flowing real estate. Prior to founding Timbercreek, Mr. Bizzarri was in portfolio management at OTPPB where he played a leadership role in the strategic planning, corporate transactions/restructuring and property acquisitions for the real estate group.
Mr. Bizzarri is an independent Director of Cymbria. Mr. Bizzarri is a graduate of the Ivey School of Business and holds the Chartered Financial Analyst designation.
Jeremy Wedgbury, Senior Vice President, Commercial Mortgages, First National
Jeremy Wedgbury is the Senior Vice President, Commercial Mortgages for First National and is responsible for the sales and marketing of First National’s commercial mortgage products. This role includes the management of approximately 25 mortgage originators located in offices nationally and the credit review of the commercial loan products, including CMHC-insured fixed and floating rate loans, CMBS loans, small commercial loans, second mortgages and interim/construction loans. Prior to joining First National in 2004, Mr. Wedgbury worked with other leading commercial mortgage lenders for 14 years, including Manulife Financial and Merrill Lynch Financial. Mr. Wedgbury’s educational background includes a Bachelor of Arts from Wilfrid Laurier University and the Urban Land Economics Diploma (Real Estate) from the University of British Columbia.
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