Middlefield REIT CEO Interview Series: CAPREIT ($CAR-UN.TO) President & CEO, Mark Kenney, sits down with Middlefield President & CEO, Dean Orrico for a fireside chat. Together, they delve into CAPREIT's approach to operating in the multi-family real estate sector and provide valuable insights into addressing Canada's housing challenges.
Middlefield strategies with a key focus in real estate:
TIMECODES 00:00 - Preview Conversation 00:32 - Introductions 03:10 - What are the key regulatory reforms necessary to support the Canadian housing sector? 04:41 - What is the most important issue for the Ontario provincial government to address in housing? 05:41 - For you perceive any potential challengers for CAPREIT's ability to set market tents on properties not subject to rent control in Ontario? 6:34 - Are current rents unaffordable for many Canadians? 9:37 - How can we boost the supply of affordable housing? and, what impact does CAPREIT's low portfolio turnover on its business? 12:06 - Do immigration levels need to be reduced to address the imbalance between housing supply and demand? 15:23 - How do CAPREIT shareholders benefit from its approach of divesting older assets and reallocating the proceeds towards new developments? 19:33 - Who are the prospective buyers for you dispositions? why aren't governments considering using these assets social housing? 20:44 - Are rents getting too high for the average Canadian? 23:28 - What kind of cost inflation are you seeing in your business this year? 25:21 - What factors do you think will lead to the resurgence of investors in the Canadian market? 27:39 – Outro