+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board with
+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020
+ WindRiver Power Corp. is partnering with TC Energy Corp. to develop a thermal power project adjacent to the shuttered Obed Mountain thermal coal mine; the $200.0 million project will produce 75MW using a pumped hydro storage technology. TC Energy is working on a similar, though larger, project at Meaford, ON ($3.3 billion/1,000MW plant)
SAVE THE DATE / upcoming events
+ Aug. 22; Fresh Start Recovery’s 12 Stop Ride For Recovery Motorcycle Road Rally; save the date
+ Sept. 22-24; BOMEX 2020, 20th Annual Building Excellence Summit, JW Marriott Parq, Vancouver; save the date
+ Sept. 29-30; Business Transitions Forum, Westin Edmonton; info/registration
+ Sept. 30; Vancouver Real Estate Forum, Vancouver Convention Centre West, Vancouver; info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ Devimco Immobeilier is planning a $500.0 million TOD re-do of 1,200 rental and condo project at University of Sherbooke transit station in Longueuil – 1.2 million sq. ft. development
+ PC Urban Properties and KingSett Capital have partnered to acquire Viking Way Business Centre in Richmond, BC; 160,000 sq. ft. fully leased, on 9.7-acre property
+ Apple Inc. is re-opening some stores this week; 25 across the U.S., 12 in Canada
+ Pier 1 Imports has decided to liquidate after not finding a buyer; will permanently close 540 stores in U.S. and Canada
+ Reitmans (Canada) Limited secured court-supervised CCAA protection; Ernst & Young Inc. is the monitor and will assist Reitmans with its restructuring plan
+ Alberta Tourism is rolling out: The Alberta (re)Bound Strategy this morning
+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board with -
+ Biden boasts bunk – because: in the United States, oil pipelines are regulated by the states, not the federal government; the KeystoneXL Expansion border crossing required a Presidential Permit, which Trump granted … so, in this writer’s view, Biden’s boast he would tear up the permit is political smoke-blowing …
+ Calgary opening – Premier Kenny announced the Calgary and Brooks shutdown is lifted; subject to safety and distancing guidelines all retail, restaurants, and hair-benders in Alberta are allowed to re-open – many are open, some are taking it slow, and everyone is wondering how quickly the customers will come back
+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020
+ Canada Emergency Commercial Rent Assistance (CECRA) program for small business is now open for applications via CMHC who are administering the $40.0 billion program for Canada - for relief for April, May, and June rent; three key elements: tenants must be down 70% or more in revenue, landlords must be willing to forego 25%, government covers 50% of gross rent – application process and details/nuances as you might expect from any government program; BLG put together a great summary of the program – check it out …
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices percolating upward over the last week – Saudis and OPEC+group seem to be holding to their promises on production cuts as inventories, demand, and prices recover …tic toc
*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower; we report ‘fresh raises’ and do not report secondary offerings …
+ Dream Industrial REIT acquired 31-property/192,000 sq. m. industrial portfolio in the Netherlands from M7 European Real Estate Investment Partners IV fund for €140.0 million
+ to those who’ve donated to help front-line workers in the COVID-19 pandemic; here are this week’s heroes: Molson Coors donated 20,000 meals; Teatro served 50 at the YWCA; Freshslice Pizza, 10,000 meals; Parkland Corporation, $4.0 million to front-line health workers, truckers, and food banks
QUOTES
+ A single day is enough to make us a little larger or, another time, a little smaller. – Paul Klee
+ You were sick, but now you're well again, and there's work to do. – Kurt Vonnegut
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