With interest rates elevated, immigration slowing, and new supply outpacing demand in markets across Canada, the real estate sector is facing headwinds. Our recent Distressed Real Estate Conference convened over 250 professionals—developers, investors, lenders, brokers, insolvency lawyers, and trustees—for a timely and sold-out event that tackled the tough questions head-on.

From market fundamentals to stalled sites and builder collapses, speakers delivered hard truths and practical insight into where things stand—and where they're headed.

Key Takeaways from the Conference

• “Survive 'til '25” may not be enough. With oversupply and falling demand, developers say the pain could last longer—possibly until 2027 or beyond.

• Land is frozen. Few buyers, even fewer closings. Sellers are accepting steep discounts or sitting tight.

• Lenders are recalibrating. Enforcement is selective. Creative workouts are essential.

• A slow-moving construction train-wreck? As projects pause and layoffs rise, workforce shortages may worsen the coming housing crisis.

Conference Replay

For those across the country who were not able to attend in person, a virtual replay featuring all four panel discussions is now available for on-demand viewing.

Watch the Preview

Who Should Watch

If your work is connected to commercial real estate, real estate development, construction or real estate lending you will not want to miss the conference replay.

Insolvency professionals should also plan to watch to learn firsthand about the issues and dynamics at play in the market.

The replay can be watched anytime at your convenience.

Panels

Panel 1: Distress in Real Estate – The Big Picture for 2025

The real estate landscape is under pressure—but how deep is the distress, and how are market players responding? This panel features on-the-ground perspectives from a lender, a developer, and a broker, each grappling with the effects of high interest rates, constrained financing, and falling demand across asset classes. The conversation will explore how current conditions compare to past downturns, what sectors are most vulnerable, and how strategies are shifting in response. Panelists will also share their outlook for the next 12–18 months—when things might stabilize, and what conditions will be needed for recovery to begin.

Panelists:

• Jared Menkes, Executive Vice-President, High-Rise Residential, Menkes Developments

• Robert Goodall, President and CEO, Canadian Mortgage Capital Corporation

• Casey Gallagher, Vice Chairman, National Investment Team, CBRE Capital Markets

Panel 2: Builders in Trouble – Workouts, Surety Claims, and Insolvencies in Construction

What happens when a builder goes under mid-project? This panel unpacks the mechanics of construction-related distress. Panelists will explore the common triggers behind builder failures, the early warning signs that stakeholders should watch for, and the critical roles sureties and consumer protection agencies play when projects stall. Drawing on recent collapses and restructuring efforts, the discussion will highlight legal, regulatory, and practical strategies for stabilizing troubled developments—and ensuring continuity where possible.

Panelists:

• Howard Friedman, Vice President & Chief Underwriting Officer, Residential Surety, Travelers Canada

• Kevin Brodie, Vice President of Underwriting, Tarion Warranty Corporation

• Bryan Gelman, President, Albert Gelman Inc.

• Jeffrey Larry, Partner, Paliare Roland LLP

Panel 3: Inside the Workout – Financial, Legal, and Operational Battles in Real Estate Restructurings

Behind every distressed real estate project is a battle to rescue value — and it takes financial, legal, and operational firepower to win. This panel dives into real-world restructurings, exposing the strategies, setbacks, and solutions that separate successful workouts from costly failures.

Panelists:

• Murtaza Tallatt, Director, KSV Advisory

• Elliot Steiner, CEO, ELM Developments

• Brendan O'Neill, Partner, Goodmans LLP

Panel 4: Chasing the Deal – Landmines and Opportunities in Distressed Real Estate Sales

As distressed real estate continues to come to market, buyers, brokers, and insolvency professionals face an increasingly complex transaction environment. This panel offers a behind-the-scenes look at the realities of executing distressed real estate deals—from stalking horse bids and debtor redemptions to last-minute offers and failed closings. Panelists will explore how to structure distressed sales, manage execution risk, and navigate hidden liabilities. The discussion will also examine who is stepping up to buy these assets today—including institutional investors, family offices, and well-capitalized developers—and what they’re looking for in distressed opportunities. Learn how to capture opportunity while avoiding the pitfalls that can derail a deal.

Panelists:

• Jeff Berger, Managing Director, TDB Advisory

• Mike Czestochowski, Vice Chairman, Land Services Group, CBRE Canada

• Maya Poliak, Partner, Chaitons LLP

CPD

The learning portions of the conference replay are eligible for CPD credit for both lawyers and accountants.

Pricing

$249 + HST

We hope you’ll take this opportunity to catch up on the timely and insightful discussions from this important event. It will definitely be time well spent!

Best regards
Dina

Dina Kovacevic
Editor-in-Chief
Insolvency Insider

Sponsors

Thanks to our generous sponsors for making the conference possible:

Media Sponsor: