this site is refreshed with a new issue every Tuesday
updated April 16, 2019
TODAY'S HEADLINES
HEADLINES: Alberta election | Chevron buying Anadarko | Solium takeover by Morgan Stanley approved | TransAlta scrapping with shareholder + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings
CONVERSATIONS
FACILITYCalgary Publisher Mark Kolke interviews interesting people. He seeks a glimpse of what drives them, how they see the world and what they see in Calgary's future:
Last week's conversation with Les Gombik, Managing Partner Calgary, Caldwell
A recent conversation with Laureen Regan, Pres. & CEO @ BOOM Group Inc.
+ Boralex Inc. commission its 15MW Moose Lake wind farm at Tumbler Ridge, BC
+ IESO (Independent Electricity System Operator) will create a ‘Lake Erie Connector’ to facilitate electricity transfer between Ontario and the United States market; project is a 1,000 MW, bi-directional, underwater transmission line utilizing state-of-the-art high-voltage direct current technology to be constructured the ITC Holdings Corp. (a Fortis company)
+ government of Newfoundland and Labrador selected NL Healthcare Partners (Fengate Asset Management, Pomerleau, Architecture49, G architects, Gibbons Snow Architects, WSP Canada, Malcolm Pinto Engineering, Jewer Bailey Consultants) to design, build, finance and maintain the Gander and Grand Fals-Windosr Care Homes project
SAVE THE DATE - CHARITY GOLF TOURNAMENTS
+ May 21; MOC Summit Golf Tournament for MBI Canadian Foundation, Fairmont Banff Springs GC, Banff; info/register
+ June 9; 4th Annual Max Robinson Children’s Foundation, Crystal Ridge GC, Okotoks; info/register
+ June 20; Ambrose University 2019 Golf Classic, Glen Eagles, Cochrane; info/register
+ June 20; 26th Annual IFMA Calgary Open, Blue Devil Golf Club, Calgary; info/register
+ June 24; Special Olympics Calgary – 20th Annual Golf Classic; save the date / details coming soon
+ Alberta Election Watch: Alberta votes today ~ most polls favour UCP, media reports the race is tightening as Notley’s NDP government struggle for re-election; where/how to vote … tic toc
+ rig counts – U.S.: down 3 to 1,022 this week; full breakdown
+ Rogers Communications won 52 of 64 new spectrum licenses auctioned off; $3.5 billion in revenue for Ottawa
+ Secure Energy Services Inc. completed acquisition of interests in storage facilities and in vacant land in Cushing, Oklahoma for US$10.4 million
+ Solium Capital Inc. got security-holder and court approval for its $1.1 billion sale to Morgan Stanley
+ TransAlta Corp. is in battle with one of its shareholders; attempts to un-do a recent financing $700.0 million financing with Brookfield and board changes are sought – the matter will be heard by the Alberta Securities Commission … tic toc
THIS WEEK IN FINANCINGS
- proposed & closed
+ CruzSur Energy Corp. closed US$2.5 million secured convertible debt financing by private placement
+ Ensign Energy Services Inc. closed US$700.0 million sr. debt financing
+ Garda World Security Corporation secured US$146.0 million credit facility
+ Hydro-Quebec is on the market to raise $500.0 million in debt
+ Minto Apartment REIT closed $173.0 million equity raise
+ Pivot Pharmaceuticals Inc. closed $590,000.0 equity raise by private placement
+ Waste Connections Inc. are on the market to raise $500.0 million in sr. debt
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*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 …
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES
+ in Halifax, ViveRE Communities Inc. closed its acquisition of Village View No. 2 Limited Partnership (42 units), for $7.9 million
+ in Paris, 12th century icon Notre Dame Cathedral fire – roof, interior and spire destroyed but exterior stone exterior and bell towers are still standing … might be salvaged. Photos: before, during, after
+ in Ottawa, Morguard opened a two-flagger-hotel, Hilton Garden Inn and Homewood Suites by Hilton Ottawa Downtown
INTERESTING TRENDS IN RETAIL REAL ESTATE
+ Bed Bath & Beyond (1,500 locations) announced they will shutter 40 stores this year, possibly more, as they compete with online retailers
+ Canada Goose plans to open six new corporate stores in 2019; two in Europe, one in the U.S. and three in Canada (Sherway Gardens in Toronto, West Edmonton Mall and Cascade Shops in Banff)
+ Crombie REIT agreed to sell an 89% non-managing interest in a 26 property portfolio to an undisclosed U.S. buyer for $161.6 million
+ MTY Food Group Inc. and Papa Murphy’s Holdings Inc. agreed to merger – transaction value US$190.0 million
INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE
+ BIMCOR acquired a three building portfolio (622,589 sq. ft.) in NE Calgary from HOOPP for $77.0 million
+ Bentall Kennedy acquired 127.3 acre McCall Landing land in NE Calgary from RioCan REIT and CPPIB for $25.0 million
INTERESTING TRENDS IN OFFICE REAL ESTATE
+ TD Bank Group agreed to lease 33 floors of 160 Front Street in Toronto AND to acquire a 30% stake in the building; Cadillac Fairview (owned by Ontario Teachers’ Pension Plan) will hold 50%, 20% is owned by IMCO (Investment Management Corporation of Ontario)
SAVE THE DATE / upcoming events
+ April 23; Canadian Gas Dialogues, Calgary Petroleum Club, Calgary; info/register
+ Apr. 27; Alberta Film and TV Awards – The Rosies, Edmonton Convention Centre, Edmonton; info/tickets
+ Apr. 29 – May 1; Canada’s Trends Conference, Fairmont Banff Springs, Banff; info/register
+ Apr. 30; Saskatchewan Real Estate Forum, Saskatoon; info/register
+ Apr. 30 – May 1; Partners in Prevention 2019 – Health & Safety Conference & Trade Show, The International Centre, Mississauga; info/register
+ May 8; Western Canada Apartment Investment Conference, MacEwan University, Edmonton; info/register
+ May 8-9; Solar Canada Conference & Exhibition, BMO Centre, Stampede Park, Calgary; info/register/exhibit
+ May 9; Edmonton Real Estate Forum, Edmonton Convention Centre; info/register
+ May 27-29; Williston Basin Petroleum Conference, Delta by Marriot Regina, SK; info/register
