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FACILITYCalgary June21/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Angela Lekatsas to Pres. & CEO @ Cervus Equipment Corporation

+ Aaron Regent to Chairman @ Scotiabank

+ Brad Ballard to Manager, Toronto @ Partners Group

+ Brad Riddell to VP Bus. Dev., Cybersecurity @ Cytelligence Inc.

+ Brett Driver to Director of Sales and Marketing @ The Bolt Supply House

+ Carla Link to Director, Communications and Community Relations @ YWCA Calgary

+ Clement Gascon, Justice @ Supreme Court of Canada, retiring

+ Cliff Stevenson to VP @ Canadian Real Estate Association

+ Craig Forrest to Group Leader, Canada @ Arup

+ Damon Mitchell to Commercial Operations Mgr., Calgary @ Rancho Realty

+ Devon MacDougall to Director of Technolgoy @ Posera Ltd.

+ Ed Dodig to Exec. VP CIBC Wood Gundy @ CIBC

+ Emily Laidlaw to Ethics Advisor to City Council @ City of Calgary

+ Erin Griffin to Content and Communications Specialist @ Beutel Goodman Investment Council

+ Gordon Trainor to COO @ Connacher Oil and Gas Limited

+ Graham Drake, Pres. & CEO @ Cervus Equipment Corporation, retiring

+ Heather Arthurs to Market Dev. Mgr. @ HNI Canada

+ James Duthie to Protection Services Supervisors @ Salvation Army

+ Jeff Jeter to Pres., Upstream & Emerging Businesses, Norther America @ Ritchie Bros.

+ John Gorman to Pres. & CEO @ Canadian Nuclear Association

+ Jon Hantho to Pres. & CEO @ CBI Health Group

+ Karen Whiteman to Interim Exec. Dir. @ Duke of Edinburgh’s International Awards Canada

+ Kari Taylor to Chief Sales Officer, U.S. Regions @ Ritchie Bros.

+ Kim Hamill to Communications Mgr. @ Celero Solutions

+ Linda Mantia, COO @ Manulife Financial Corp., leaving the company …

+ Marco Royer to Head of Liability, Zurich Canada @ Zurich North America

+ Mark Samuel, Chairman @ Samuel, Son & Co. Limited, retiring

+ Marlon McDougall to Pres. & CEO @ North American Helium

+ Mathew Fish to CFO @ Red Pine Petroleum Ltd.

+ Michael Beckerman to Pres & CEO @ MKTG Canada

+ Michael Lerner to Director and CEO @ Red Pine Petroleum Ltd.

+ Ming Sheng, Director, CFO & Secretary @ Red Pine Petroleum Ltd., resigned

+ Nigel Hunton to Pres. & CEO @ Photon Control Inc.

+ Olympia Trencevski to VP Operations, Edmonton @ ProCura Real Estate Services

+ Paige Magnussen to Leasing Mgr. @ Bentall Kennedy

+ Patricia Olynyk to VP Finance @ Yangarra Resources Ltd.

+ Paul Chung, Director, CEO and Pres. @ Red Pine Petroleum Ltd, resigned

+ Peter Lee to Exec. VP Banking Centres @ CIBC

+ Peter Myers to Director, Project Mgmt. @ Kalina Power

+ Phil Hammond to Sr. VP, Bus. Dev. @ Data Communications Management

+ Richard Clayton to Healthcare Specialist @ DIRTT Environmental Solutions

+ Robert Deluce to Executive Chairman @ Porter Airlines

+ Shave Tevelein to Superintendent @ CANA Construction Ltd.

+ Spencer Todd to Director @ Drone Delivery Canada

+ Steve Cove to Director, Recruitment @ Sphere Recruitment Solutions

+ Tim Hannah, Chairman @ OPSEU Pension Trust, resigned

+ Tom O’Neil, Chairman @ Scotiabank, retired

+ Tracy Froland to Managing Dir., Edmonton @ Riddell Kurczaba Architecture Engineering Interior Design Ltd.

~

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




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ check out 100 best restaurants in Canada; 10 of them are in Calgary, 4 in Edmonton

+ the future of recruiting

+ dealing with a toxic boss




 QUOTES 

+ The things you do for yourself are gone, but the things you do for others remain as your legacy. – Kalu Kalu

+ Children learn more from what you are than what you teach. – W.E.B. Du Bois






 CONSTRUCTION NEWS + INNOVATION 

+ 2019 winner of the EU Mies van der Rohe Award for Contemporary Architecture

+ PCL won $217.6 million contract to redo exterior of federal government office complex in Gatineau

+ first concert at The Shed, Hudson Yards, NYC




 this week in REITS 


+ Bentall Kennedy acquired 127.3 acre McCall Landing land in NE Calgary from RioCan REIT and CPPIB for $25.0 million

+ 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

+ Granite REIT acquired two logistics properties (943,000 sq. ft.) in Mississauga for $154.0 million

+ Minto Apartment REIT closed $173.0 million equity raise




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ ABS – Asset Backed Securities

+ 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

+ BIM – Building Information Modeling

+ 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

+ DAB – Development Appeal Board

+ DILBIT – diluted bitumen

+ DIP – debtor in possession

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

+ EIA – U.S. Energy Information Administration

+ EPC – engineering, procurement and construction

+ E & P – exploration and production

+ FEED – front-end engineering and design

+ 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

+ IMCO – Investment Management Corporation of Ontario

+ IPO – Initial Public Offering

+ ISO – International Organization for Standardization

+ 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

+ MOA – Memorandum of Agreement

+ 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




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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.

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



 sponsors of this week's issue:

e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CLICK HERE TO GET MARK'S HOME SEARCH APP FOR YOUR MOBILE PHONE - search any MLS listing you see, get information and/or book a showing without making a call - check it out! It's new and aVERY cool tool.

CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



PUT YOUR 
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NEW AND USED OFFICE FURNITURE



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e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



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



 INFRASTRUCTURE / P3  


+ 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

+ July 11; 17thy Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

~

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




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NEWS SUMMARY 
 April 9 ~ 16 


+ 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

+ Bank of Canada first quarter survey – sentiment softens

+ Chevron Corporation agreed to acquire Anadarko Petroleum Corporation for US$33.0 billion

+ Dr. Ed McCauley installed as President at University of Calgary

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices steadying as supply tightens and concerns about declining Chinese demand lessen…

+ Jupiter Resources Ltd. announced reduction in its 2019CapEx Budget to $150.0 million

+ Partners Group opened a Canadian office in Toronto

+ rig activity in Canada

+ 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

~

*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

+ June 3-4; 2019 Oil Sands Innovation Summit, Hyatt Regency, Calgary; info/register

+ June 4-6; Western Manufacturing Technology Show, Edmonton Expo Centre; info/registration

+ June 10-12; NeoCon, The Mart, Chicago; info/register

+ June 11-12; Downstream 2019, George Brown Conv. Center, Houston; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


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



 SHAREHOLDER MEETINGS

+ Apr. 16, Alberta Provincial Election – everywhere in Alberta – get out and VOTE!

+ Apr. 16; Blackline Safety Corp., Annual General Meeting of Shareholders, Calgary

+ Apr. 17; Calgary Real Estate Board, Annual General Meeting, Calgary

+ Apr. 18; Africa Oil Corp., Annual General and Special Meeting of Shareholders, Vancouver

+ Apr. 18; Brant Oil & Gas Company Limited, Special Meeting of Shareholders, Mississauga

+ Apr. 18; Calgary Airport Authority, Annual General Meeting, Calgary

+ Apr. 24; National Bank of Canada, Annual Meeting of Common Shareholders, Quebec City

+ Apr. 25; Vermilion Energy Inc., Annual General Meeting, Calgary

+ Apr. 26; TransAlta Corporation, Annual and Special Meeting of Shareholders, Calgary

+ Apr. 30; Canadian National Railway Company, Annual General Meeting of Shareholders, Montreal

+ May 1; Canfor Pulp Products Inc., Annual General Meeting, Richmond

+ May 2; Baytex Energy Corp., Annual and Special Meeting of Shareholders, Calgary

+ May 2; GMP Capital Inc., Annual General Meeting of Common Shareholders, Toronto

+ May 2; Great-West Lifeco Inc., Annual Meeting of Shareholders, Winnipeg

+ May 2; Manulife Financial Corporation, Annual Meeting of Shareholders, Toronto

+ May 2; The Empire Life Insurance Company, Annual and Special Meeting of Shareholders, Toronto

+ May 3; Choice Properties REIT, Annual General Meeting, Toronto

+ May 3; FirstService Corporation, Annual and Special Meeting of Shareholders, Toronto

+ May 3; Pembina Pipeline Corporation , Annual and Special Meeting of Sharholders, Calgary

+ May 3; TransCanada Corporation, Annual and Special Meeting, Calgary

+ May 7; Brookfield Real Estate Services Inc., Annual General Meeting, Toronto

+ May 7; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, Calgary

+ May 7; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 8; Chorus Aviation Inc., Annual and Special Meeting of Shareholders, Halifax, NS

+ May 8; George Weston Limited, Annual Meeting of Shareholders, Toronto

+ May 8; Intact Financial Corporation, Annual Meeting of Shareholders, Toronto

+ May 8; Maxar Technologies Inc., Annual Meeting of Stockholders, Westminster, Colorado

+ May 8; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ May 9; Inter Pipeline, Annual Meeting of Shareholders, Calgary

+ May 9, Crombie REIT, Annual General Meeting, New Glasgow, NS

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

+ May 10; TransGlobe Energy Corporation, Annual General Meeting, Calgary

+ May 14; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 23; Bellatrix Exploration Ltd., Annual and Special Meeting, Calgary

+ June 13; Cap REIT, Annual Unitholders Meeting, Toronto

~

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


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