FACILITYCalgary

news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alex Read to COO @ Wellness Lifestyle Inc.

+ Aurélie Pépion to BP Omni Channel Sales and Operations @ Birks Group Inc.

+ Bernadette Ho to Justice, Calgary @ Court of Queen’s Bench of Alberta

+ Brenda Kenny to Chair @ Alberta Research and Innovation

+ Carold Jardine to Pres. Canadian Property and Casualty @ The Wawanesa Mutual Insurance Company

+ Catherine Tait to Pres. & CEO @ CBC/Radio-Canada

+ Christopher Vachon to Regional VP Canada @ Cove Communities

+ David Gillis, Exec. VP & CFO @ Cequence Energy Ltd., resigned

+ David Murphy to Pres. & CEO @ Centric Health Corporation

+ Donald Archibald to Exec. Chairman @ Cequence Energy Ltd.

+ Dr. Sandip Lalli to Pres. & CEO @ Calgary Chamber of Commerce

+ Edward Tsang to Sr. Associate, Senior Interior Designer, Calgary @ B+H Architects

+ George Brookman, Director @ Obsidian Energy Ltd., retiring

+ Graeme Llewellyn to CFO & COO @ Starlight Investments

+ Hamed Shahvazi to CEO & Chairman @ Wellness Lifestyle Inc.

+ Howard Crone to Exec. VP & Interim CFO @ Cequence Energy Ltd.

+ Jeff Hart to Acting CFO @ Husky Energy

+ Jonathan McKenzie, CFO @ Husky Energy, resigned

+ Jonathan McKenzie to CFO @ Cenovus Energy Lrd.

+ Michael Goldbloom to Chairman @ CBC/Radio-Canada

+ Omar Javed to VP Investor Relations @ Hydro One Limited

+ Patrick Maguire to Vice Chair and Calgary Managing Partner @ Bennett Jones LLP

+ Raymond Crossley to Members @ Alberta Securities Commission

+ Rebecca Rycroft to Sr. VP & CFO @ Munich Re Canada

+ Rob Mowat to VP Sales and Marketing @ Grande West Transportation Group Inc.

+ Rosemary Feenan to Exec. VP, Research @ QuadReal Property Group

+ Steven Cohen to Member @ Alberta Securities Commission


[please send us your appointment notices  kolke@facilitycalgary.com]




 MEMORIAM

+ Dave Robson, founder of Veritas, horseman and philanthropist; 79

+ Patti Falconer, founder of Patti Falconer agency; 77




 KUDOS 

+ to the Humboldt Broncos, to extraordinary first-responders and citizens of Humboldt, Saskatchewan – your pain is widely felt, your courage and resilience is an incredible example to all Canadians




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ Ernst & Young report indicates 84% of Canadian executives expect to divest in the next 12 months; Global Corporate Divestment Study 2018

+ Alberta Bill 30: An Act to Protect the Health and Well-being of Working Albertans – how will it impact your organization?




 QUOTES 

+ Be happy … not because everything is good, but because you can see the good in everything. – Orly Wahba

+ Only put off until tomorrow what you are willing to die having left undone. – Pablo Picasso




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ AIMCo – Alberta Investment Management Corporation

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ BOE – barrel of oil equivalent

+ Brent – North Sea crude benchmark price

+ CapEx – capital expenditures

+ CAPP - Canadian Association of Petroleum Producers

+ cap rate – capitalization rate

+ CBD – Central Business District

+ CCAA – Companies’ Creditors Arrangement Act

+ CCS – Carbon Capture and Storage

+ CEAA – Canadian Environmental Assessment Agency

+ Chapter 11 – court ordered creditor protection under U.S. bankruptcy law

+ COSIA - Canada's Oil Sands Innovation Alliance

+ CPPIB – Canada Pension Plan Investment Board

+ CREB - Calgary Real Estate Board

+ DIP – debtor in possession

+ EBITDA – earnings before interest, taxes, depreciation and amortization

+ EIA – U.S. Energy Information Administration

+ E & P – exploration and production

+ FERC – U.S. Federal Energy Regulation Commission

+ Forbearance Agreement – a short term formalized relief arrangement when loan terms are in default

+ FSR – floor space ratio

+ FTC – U.S. Federal Trade Commission

+ GJ – gigajoule

+ GLA – gross leasable area

+ GOA - Government of Alberta

+ GOM – Gulf of Mexico

+ GTA – greater Toronto area

+ GW - gigawatt

+ G&A – general and administrative

+ HOOP – Healthcare of Ontario Pension Plan

+ IEA – International Energy Agency

+ IFMA – International Facility Management Association

+ IPO – Initial Public Offering

+ JV – Joint Venture

+ KV – kilovolt (one thousand volts)

+ KW – kilowatt (one thousand watts)

+ LEED – Leadership in Energy and Environmental Design

+ LNG – Liquefied Natural Gas

+ LPG – Liquefied Propane Gas

+ MCF – thousand cubic feet

+ MCF/D – thousand cubic feet per day

+ mezz – mezzanine debt

+ MOU – Memorandum of Understanding

+ MT – metric ton

+ MW – megawatt (1 million watts)

+ NAFTA – North American Free Trade Agreement

+ NEB – National Energy Board

+ NGLs – natural gas liquids

+ OPEC – Organization of Petroleum Exporting Countries

+ P3 – Public Private Partnership

+ PADD – U.S. Petroleum Administration for Defense Districts

+ PPA – Power Purchase Agreement

+ PSAC – Petroleum Services Association of Canada

+ PSP – Public Sector Pension Investment Board

+ RECA – Real Estate Council of Alberta

+ REIT – Real Estate Investment Trust

+ RFI – request for information

+ RFP – request for proposals

+ RFQ – request for qualifications

+ RICS – Royal Institution of Chartered Surveyors

+ RNG – renewal natural gas

+ SAGD – steam assisted gravity drainage

+ SAIT – Southern Alberta Institute of Technology

+ S & P – Standard & Poors

+ sub – subsidiary

+ sub. – subordinated

+ tic toc – we’ll see …

+ TOD – transit oriented development

+ UDI – Urban Development Institute

+ WTI – West Texas Intermediate crude benchmark price

+ WTO – World Trade Organization

+ YYC – YYC Calgary International Airport




 CHARITY GOLF TOURNAMENTS 

+ June 21; 57th Annual CSPG Classic Golf Tournament, Elbow Springs Golf Club, Calgary; info/register


[send your tournament notices to:  kolke@facilitycalgary.com ]



 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated April 10, 2018




 TODAY'S HEADLINES


HEADLINES: Birchcliff/AltaGas deal | crude prices limping | Noralta Lodge takeover | Olds College adds Land Agent program | TransMountain expansion plans in jeopardy + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

A recent conversation with Mac Logan, Planner, former General Mgr. Transportation at City of Calgary and now Principal and Maplehawk. 

A recent conversation with Mike O'Connor, 'bucket list adventurer' and founder, Pres. & CEO of O'Connor Associates Environmental Inc.

Click here to access the archive: archived conversations with fascinating Calgarians ...



 sponsors of this week's issue:

e-mail Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
OFFICE MOVERS



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



PUT YOUR 
COMPANY HERE
 Advertising/sponsorship queries:  kolke@facilitycalgary.com 
SEE YOUR 
BRAND HERE



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 CALGARY OLYMPICS 2026 BID WATCH 


+ seven cities still in the race; Graz, Austria; Cortina/d’Amprezzo/Milan/Turin, Italy; Sappora, Japan; Stockholm, Sweden; Sion, Switzerland; Erzurum, Turkey … and Calgary!

+ Notley government’s insistence on a plebiscite, which is their condition attached to initial funding, does not carry with it a commitment to participate in games funding; Mayor Nenshi has added fuel to fire insisting the province pay for the plebiscite

+ city officials are saying, $4.6 billion to put on the games

+ other participating communities (like Canmore) are being kept in the dark; so far the entire process has been a PR failure, such that fears about the whole process are justifiable …




 CORPORATE RESPONSIBILITY REPORTS 


+ PrairieSky Royalty Ltd. published its 2017 Annual Responsibility Report




 SAVE THE DATE / upcoming events

+ April 11; Calgary Chamber of Voluntary Organizations, Connections Conference 2018; Ross Glen Hall, Mount Royal University, Calgary; info/register

+ Apr. 19; B’nai Brith Dinner honouring Rachel Notely and Darryl Janz; info/tickets or contact Jerry Spevakow

+ Apr. 20,24,26,27; Bowl For Kids Sake, Chinook Bowladrome, Calgary; info/register

+ Apr. 25; Vancouver Real Estate Forum, Vancouver Convention Centre; info/registration

+ May 9; EducationMatters: Fuel the Future fundraiser; info/tickets

+ May 10; Kananaskis Golf Courses re-opening day; bookings online starting Mar. 14; res # 1-877-591-2525

+ June 4-6; OPEX Summit; Operational Excellence in Energy Chemical & Resources, BMO Centre, Calgary; info/agenda

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register , registration now open

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register


[send your event notices to:  kolke@facilitycalgary.com ]



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ COSIA’s Carbon XPRIZE has been narrowed to 10 contest firms in its third round; global completion has $20.0 million in prize money available … tic toc

+ Siemens Gamesa Renewable Energy commissioned; 100MW North Kent wind farm in SW Ontario; ownership is Chatham-Kent, 15%, Wapole Island First Nation 15%; balance is a JV between Pattern Development and Samsung Renewable Energy Inc.




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NEWS SUMMARY 
 April 3 ~ 10 


+ Avison Young acquired Alcor Commercial Realty Inc.

+ Birchcliff Energy Ltd. and AltaGas Ltd. entered into a long-term processing arrangement for the Gordondale Facility

+ current energy prices – live link to current Bloomberg energy prices; crude prices coming back from last week’s retreat due to Texas production clogging pipelines and pushing prices down; meanwhile global markets shudder at early steps in a U.S. v. China trade war …

+ KPMG LLP agreed to acquire Adoxio Business Solutions

+ KPMG LLP acquired Egyde

+ Noralta Lodge Ltd. (7,900 rooms/11 sites) acquired by Civeo Corp. for $367.0 million

+ Olds College have launched a 2-year diploma program for: Land Agent – info/apply

+ Quorum Softweare acquired Entero Corporation; terms not disclosed

+ rig counts: down 23 to 111 – full breakdown

+ TransMountain pipeline expansion wrangling continues; Kinder Morgan announced they are stopping all but necessary spending on the project, the Trudeau government continues to use words rather than enforcement mechanics, Premier Notley rightly is using a loud Alberta voice, warning of provincial ‘economic pressure’ action against B.C. and indication that the Alberta government will invest in the pipeline, possibly the federal government too; Kinder Morgan imposed a deadline of May 31st to get project conditions out of the way … tic toc

+ Sage Energy Corporation and NGC Compression Solutions agreed to combine; will operate as NEXT Compression Corp.

+ U.S. rig counts: up 20 to 989; overview and summary




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Saturn Oil & Gas Inc. closed $2.75 million debt financing

+ Yangarra Resources Ltd. secured $150.0 million credit facility




 this week in REITS 


+ Agellan Commercial REIT agreed to acquire seven light industrial buildings in Dallas, TX; 194,000 sq. ft., for US$12.2 million

+ Choice Properties REIT announced plans for its mixed-use community at 2280 Dundas St. W, Toronto

+ Crestpoint REIT acquired a 12-building (industrial portfolio in Burnaby and Vancouver), ABB’s research and design centre in Montreal, 50-% interest in two development projects (Toronto and Montreal) for $500.0 millino

+ Electra American made an all cash offer to acquire Pure Multi-Family REIT; the REIT has, so far, resisted claiming the bid is too low … tic toc

+ Granite REIT acquired two U.S. properties (Greencastle & Bethel, PA); 1.0 million sq. ft., US$74.1 million

+ Pure Multi-Family REIT LP received an unsolicited takeover bid from Electra America … tic toc

+ R&R REIT agreed to sell three hotel properties US$10.2 million to The Siegel Group Nevada Inc.



 INFRASTRUCTURE / P3  


+ Infrastructure Ontario and Metrolinx issued an RFP to three shortlisted consortia to design, build and finance the Milton Corridor GO train project

+ Trudeau government’s ‘Investing in Canada’ program is providing Alberta with $3.3 billion over the next decade for infrastructure projects; details/process




 CONSTRUCTION NEWS + INNOVATION 

+ George Brown College selected architects for it’s the Arbour project, a tall wood campus building on Toronto’s waterfront; Moriyama & Teshima Architects + Acton Ostry Architects got the job to design it. The Arbour will host Canada's first Tall Wood Research Institute, allowing students and researchers to generate innovative ideas and research in low-carbon, mass timber construction. It will also become home to the college's School of Computer Technology, and a new child care facility.

+ The Photographer and Architecture – great photos by Naoya Hatekayama




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Starlight Investments closed its acquisition of four-bldg. hi-rise multi-res properties (456 units) in Vancouver

+ Tricon Capital Gorup Inc. agreed to sell its portfolio of 14 manufactured housing communities (Tricon Lifestyle Communities) to an institutional investor; terms and purchaser not disclosed




 INTERESTING THINGS IN RETAIL 


+ MTY Food Group Inc. completed its acquisition of Timothy’s World Coffee and Mmmuffins

+ Nine West Holdings Inc. filed for bankruptcy protection; restructuring will involve sale Nine West and Bandolino business units and to facilitate expansion …




 INTERESTING THINGS IN OFFICE 


+ Slate Acquistions, in it’s portfolio deal with Cominar REIT, acquired an 18-story office building at 55 University Avenue in Toronto – and then flipped it to I.G Investment Management Ltd. (part of Investors Group) for $195.1 million




 SHAREHOLDER MEETINGS

+ Apr. 10; Bank of Nova Scotia, Annual Meeting of Shareholders, Toronto

+ Apr. 12; Cargojet Inc., Annual General and Special Meeting of Shareholders, Toronto

+ Apr. 18; Calgary Real Estate Board, Annual General Meeting, CREB Headquarters, Calgary

+ Apr. 19; Calgary Airport Authority, Annual General Meeting, Calgary Airport Marriott

+ Apr. 20; National Bank of Canada, Annual Meeting, Drummondville, QB

+ Apr. 20; TransAlta Corporation, Annual and Special Meeting of Shareholders, Calgary

+ Apr. 26; Linday Park Sports Society, Annual General Meeting, Repsol Sport Centre, Calgary

+ Apr. 30; Tervita Corporation, Annual and Special Meeting of Shareholders, Calgary

+ Apr. 30; Newalta Corporation, Annual and Special Meeting of Securityholders, Calgary

+ May 1; AltaGas Ltd., Annual General Meeting of Shareholders, Calgary

+ May 3; Fortis Inc., Annual Meeting of Shareholders, St. John’s

+ May 3; GMP Capital Inc., Annual and Special Meeting of Common Shareholders, Toronto

+ May 3; The Empire Life Insurance Company, Annual and Special Meeting, Toronto

+ May 3; Manulife Financial Corporation, Annual Meeting of Shareholders, Toronto

+ May 4; AutoCanada, Annual General Meeting of Shareholders, Edmonton

+ May 4; Pembina Pipeline Corporation, Annual General Meeting of Shareholders, Calgary

+ May 7; Economical Mutual Insurance Company, 146th Annual Meeting, Waterloo

+ May 7; Inter Pipeline Ltd., Annual Meeting of Shareholder, Calgary

+ May 8; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 8; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 9; Sun Life Financial Inc., Annual Meeting, Toronto

+ May 10; Big Rock Brewery Inc., Annual Meeting of Shareholders, Calgary

+ May 10; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, Calgary

+ May 10; Crombie REIT, Annual General Meeting, New Glasgow, NS

+ May 11; Obsidian Energy Ltd., Annual General Meeting, Calgary

+ May 11; Yellow Pages Limited, Annual General Meeting of Shareholders, Montreal

+ May 15; Intermap Technologies Corporation, Annual Shareholders Meeting, Calgary

+ May 18; Cona Resources Ltd., Annual and Special Meeting, Calgary

+ June 7; Dollarama Inc., Annual Meeting of Shareholders, Montreal


[send your event notices to:  kolke@facilitycalgary.com ]

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this site last updated May 6, 2025