Canadian Real Estate Compensation Survey Results

Real property. Real leadership.

Canadian Real Estate Compensation Survey Results

2019

2019 REALPAC Canadian Real Estate Compensation Survey

REALPAC (the Real Property Association of Canada) is pleased to present the 2019 REALPAC Canadian Real Estate Compensation Survey. Sponsored by REALPAC and conducted by FPL Associates L.P., this survey is designed to provide real estate companies with competitive compensation levels and current information regarding the design, features, and administration of compensation and benefits programs. In addition, this year's survey includes questions specific to fund managers as well as data with respect to diversity & inclusion.

In particular, this report provides information for three major facets of compensation for 175 positions commonly found in REALPAC member organizations:

? Base salary (2019) ? Annual incentive award value (for calendar/fiscal year 2018) ? Long-term incentive award value (for calendar/fiscal year 2018)

We extend our sincere appreciation to all participating organizations for providing valuable information, which has enabled us to perform a comprehensive examination of compensation within the Canadian real estate industry.

Fifty-five organizations participated in this year's survey, reflective of a 51% response rate.

Sincerely,

Kristopher Kolenc Manager, Research & Sustainability REALPAC

Jeremy I. Banoff Vice Chairman FPL Associates L.P.

Lindsay Pankratz Survey Director FPL Associates L.P.

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Below is a list of all 55 participants in this year's survey.

Alberta Investment Management Corporation (AIMCo) Altus Group Amica Senior Lifestyles Artis REIT Aspen Properties Automotive Properties REIT BentallGreenOak Brookfield Properties Cadillac Fairview Corporation Limited, The Canadian Urban Limited CanFirst Capital Management CBRE Ltd. Choice Properties REIT Colliers International Inc. Cominar REIT Concert Properties Ltd. CreateTO Crestpoint Real Estate Investments Ltd. Crombie REIT

Crown Realty Partners CT REIT Cushman & Wakefield Dorsay Development Corporation Dream EPIC Investment Services Fengate Real Asset Investments First Capital Realty Inc. GWL Realty Advisors Hines Interests LP Homestead Land Holdings Ltd. InterRent REIT/CLV Group Ivanho? Cambridge JLL Real Estate Services Canada Inc. Killam Apartment REIT LaSalle Investment Management Manulife Financial Menkes Development Ltd. Minto Group, The

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Participating Companies

Morguard Corporation Nicola Wealth Northview Apartment REIT NorthWest Healthcare Properties REIT Oxford Properties Group Inc. Primaris Pure Industrial Real Estate Trust (PIRET) QuadReal Property Group Realstar Group RioCan REIT Sienna Senior Living SmartCentres REIT/Penguin Investments Inc. Strathallen Capital Corporation Triovest Realty Advisors Inc. WPT Industrial REIT

Participating Companies

Participant Demographics

These charts illustrate the composition of this year's participants by primary property focus and company size, defined as number of full-time employees and total revenues.

A wide representation of real estate firms in terms of property focus and size are included in this survey, allowing for a comprehensive examination into overall market practices.

Property Sector

Reta i l 14%

Di ver s i fi ed/ Combi ned*

58%

Office and I ndus tri a l

11%

Mul ti -Fa mi l y Res i denti a l Health Care 11% 4% Seni ors Res i denti a l 2%

*Diversified/Combined (three or more asset types)

Number Of Employees

150 - 499 Empl oyees

25%

Less Than 150

Empl oyees 31%

Total Revenues

Less Than $250

Mi l l i on 49%

500 - 1,000 Empl oyees

22%

Greater Than 1,000 Empl oyees

22%

$250 Million or

Greater 51%

2019 REALPAC Canadian Real Estate Compensation Survey 3

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Compensation Table of Contents

Executive Management Positions

Chief Executive Officer/President Chief Operating Officer Chief Financial Officer Chief Accounting Officer General Counsel Chief Information Officer Chief Investment Officer

Senior Management Positions

Executive/Senior Vice-President Division or Subsidiary President Regional/Business Unit Manager Head of Internal Audit Head of Human Resources Corporate Controller Corporate Treasurer Head of New Business/Development

Corporate Services Positions - Accounting

Division Controller Assistant Controller Accounting Manager Senior Accountant Staff Accountant Accounting Clerk Accounts Receivable/Accounts Payable Supervisor Accounts Receivable/Accounts Payable Professional Junior Accounts Receivable/Accounts Payable Professional

Corporate Services Positions - Administration

Business Process Improvement Office Manager Executive Assistant I (C-Suite) Executive Assistant II (Non-C-Suite) Administrative Assistant Receptionist

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Compensation by Position

Corporate Services Positions - Audit and Tax

Internal Auditor Senior Corporate Tax Executive Tax Manager Tax Professional Director of Financial Reporting Financial Reporting Manager

Corporate Services Positions - Communications

Communications Professional Designer

Corporate Services Positions - Customer Service

Customer Service Manager Customer Service Supervisor Customer Service Representative

Corporate Services Positions - Finance

VP, Finance Mid-Level Finance Professional Financial Analyst

Corporate Services Positions - Human Resources

Human Resources Director Human Resources Manager Human Resources Generalist Human Resources Coordinator Training & Development Professional Recruitment Professional Compensation & Benefits Professional HRIS Manager HRIS Analyst

Corporate Services Positions - Legal

Senior Legal Counsel Staff Lawyer Senior Paralegal Paralegal

Compensation by Position

Corporate Services Positions - Marketing

Head of Marketing Senior-Level Marketing Professional Mid-Level Marketing Professional Junior-Level Marketing Professional Social Media Professional Market Research Analyst

Corporate Services Positions - Payroll

Payroll Manager Payroll Supervisor Payroll & Benefits Administrator Payroll Specialist

Corporate Services Positions - Purchasing

Purchaser/Buyer

Corporate Services Positions - Research

Head of Research Senior-Level Research Professional Mid-Level Research Professional Analyst - Research Professional

Corporate Services Positions - Risk Management

Senior-Level Risk Management Professional Mid-Level Risk Management Professional Junior-Level Risk Management Professional

Corporate Services Positions - Technology

Senior-Level IT Professional Mid-Level IT Professional Junior-Level IT Professional IT Project Manager Senior-Level Data Management Professional Infrastructure Development Professional Mid-Level Applications Development Professional Web Development Professional Database Administration Specialist Help Desk Professional

Corporate Services Positions ? Technology (continued)

Network Administrator Information Security Professional Asset/Property Management Software Manager Information Technology Director Mid-Level MIS/IT Professional Junior-Level MIS/IT Professional

Real Estate Positions ? Accounting Portfolio/Fund

Senior Accountant ? Portfolio/Fund Staff Accountant ? Portfolio/Fund

Real Estate Positions - Architecture, Engineering & Environment

Chief Architect/Designer Chief Engineer Building Engineer Architectural Technician/Designer Environmental Specialist Corporate & Social Responsibility Leader Corporate & Social Responsibility Professional Corporate & Social Responsibility Analyst/Sustainability

Real Estate Positions - Asset Management

Head of Asset Management Senior-Level Asset Management Professional Mid-Level Asset Management Professional Associate - Asset Management Professional Analyst - Asset Management Professional

Real Estate Positions - Building Ops/Facilities Mgmt

Top Facilities Management Professional Head of Building Ops./Facilities Mgmt. Senior-Level Building Ops./Facilities Mgmt. Professional Mid-Level Building Ops./Facilities Mgmt. Professional Building Operations Supervisor Senior Building/Maintenance Operator Building/Maintenance Operator I Building/Maintenance Operator II

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Real Estate Positions - Building Ops/Facilities Mgmt (continued)

Building Superintendent General Facilities/Maintenance Employee I General Facilities/Maintenance Employee II General Facilities/Custodial Employee

Real Estate Positions ? Construction/Proj. Mgmt

Head of Construction Senior-Level Construction/Project Manager Mid-Level Construction/Project Manager Junior-Level Construction/Project Manager Project Coordinator Tenant Project Manager Construction Estimator

Real Estate Positions - Development

Head of Development Senior-Level Development Professional Mid-Level Development Professional Junior-Level Development Professional

Real Estate Positions - Investments

Senior-Level Investment Professional Mid-Level Investment Professional Junior-Level Investment Professional

Real Estate Positions - Leasing and Administration

Head of Leasing Senior-Level Leasing Professional Mid-Level Leasing Professional Junior-Level Leasing Professional Manager of Lease Administration Specialty Leasing Lease Administrator

Real Estate Positions - Portfolio Management

Head of Portfolio Management Senior-Level Portfolio Management Professional Mid-Level Portfolio Management Professional Analyst - Portfolio Management

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Compensation by Position

Real Estate Positions - Promotions

Marketing/Promotions Director Marketing/Promotions Manager

Real Estate Positions - Property Accounting

Property Controller Property Accounting Manager Senior-Level Property Accountant Property Accountant Junior-Level Property Accountant Revenue Coordinator

Real Estate Positions - Property Management

Head of Property Management Senior-Level Property Management Professional (Sq. Ft. Over 1.5M) Mid-Level Property Management Professional (Sq. Ft. 1-1.5M) Senior Property Manager (Sq. Ft. 500,000-1M) Property Manager (Sq. Ft. Up to 500,000) General Manager Assistant Property Manager Senior Property Administrator Property Administrator

Real Estate Positions - Property Tax

Property Tax Professional

Real Estate Positions - Security

Security Director Security & Life/Safety Manager Security & Life/Safety Supervisor Security & Life/Safety Coordinator Security & Life/Safety Officer

Real Estate Positions - Tenant Services

Tenant Client Services Manager Tenant Client Services Coordinator Concierge Client Services Professional

Compensation by Position

Real Estate Positions - Transactions

Head of Transactions Senior-Level Transactions Professional Mid-Level Transactions Professional Associate - Transactions Professional Analyst - Transactions Professional

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