REITs, Housing Policy and the Economy with Mark Kenney | EP138

Working Capital The Real Estate Podcast

Mark Kenney is a President and Chief Executive Officer at CAPREIT
Mark Kenney joined Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), a TSX listed company, in 1998. In 2019, Mark was appointed President and Chief Executive Officer. As Canada’s largest publicly traded provider of quality rental housing, CAPREIT currently owns or has interests in approximately 67,000 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, the Netherlands and Ireland. In 2020, CAPREIT was included in the S&P/TSX 60 Index. With over 30 years of experience in the multi-family sector and as President and Chief Executive Officer, Mark is actively involved in creating and implementing the strategic vision for the organization through the direction of company policy and oversight of the crucial divisions within CAPREIT, including property management operations, marketing, procurement, development, and acquisitions. A frequent contributor to BNN Bloomberg and other media, Mark is a passionate advocate for the role of Real Estate investor

In this episode we talked about:
* Mark’s Background and How he Got into Real Estate
* The Comparison of the Commercial Real Estate World of the 80s-90s and nowadays
* Difference between Commercial Real Estate and Residential Real Estate
* Pricing and Valuations of Industrial Multi-Residential
* Supply in Real Estate
* Real Estate Deals in Suburban and Rural Areas
* Development Costs and Charges
* Areas of Investment into Manufacturing Housing
* CAPREIT Focus in terms of Real Estate Projects
* 2023-2024 Interest Rates Environment
* Advice to Newcomers

Transcription:

Jesse (0s): Welcome to the Working Capital Real Estate Podcast. My name's Jessica Galley, and on this show we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jessica Gallen. You're listening to Working Capital, the Real Estate Podcast. My guest today is Mark Heney, president and Chief Executive Officer at Capri.

Mark joined Canadian Apartment Properties real estate investment trust, a TSX listed company in 1998. In 2019, mark was appointed president and chief executive officer as Canada's largest publicly traded provider of quality rental housing. Capri currently owns or has interest in approximately 67,000 residential apartment suites, town homes, and manufactured housing community sites. Well located across Canada, the Netherlands, and Ireland in 2020. Capri was included in the S N P and TSX 60 index.

Mark, how you doing today?

Mark (1m 3s): Great, Jesse, thanks for having me.

Jesse (1m 4s): Yeah, pleasure to have you on. You know, wanted to talk a little bit about, you know, the current environment that we're in right now, you know, your background in the industry and, and Capri in general. But I guess, you know, maybe we could start with you have over 30 years experience in multifamily in that sector, and I was just curious to kind of get a little bit of a background of guests that we have on. It's always interesting to see how they got into the wild West. We called real estate.

Mark (1m 32s): Yeah, so I, I don't know, like, because I go back in time here to when I was growing up, I think it was very normal for young people to be interested in cars and real estate. It was, so, it wasn't anything that special about being drawn to real estate. I think like a lot of people I would daydream about real estate and back then it w