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 

+ Adam Zeiger to Sr. VP & Chief Relationship Officer @ Invesque Inc.

+ Bernadette Kollman to Chair @ Travel Alberta

+ Carmel Smetschaka to Gen. Mgr. Health & Safety @ H&R REIT

+ Cressida Hogg, Head of Infrastructure Portfolio @ Canada Pension Plan Investment Board, stepped down

+ David Sterna to VP Marketing and Commercial @ Advantage Oil & Gas Ltd.

+ Doug Tingley to Pres, Day & Ross Freight @ Day & Ross Inc.

+ Jane Mactaggart to Pres. & CEO @ Tundra Oil & Gas

+ Jim Little, Chief Marketing Officer @ Shaw Communications Inc., stepping down

+ Judy Fairburn to Director @ Tundra Oil & Gas

+ Karim Habra to Head of Europe @ Ivanhoé Cambridge

+ Ken Dixon to VP @ Epic Realty Partners

+ Kenneth Neufeld to Chairman @ Tundra Oil & Gas

+ Lisa Wise to Director @ Calgary Co-Operative Association Limited

+ Lori Ell to Director @ Calgary Co-Operative Association Limited

+ Roy Goodall to Director @ Calgary Co-Operative Association Limited

+ Scott Lawrence to Head of Infrastructure Portfolio @ Canada Pension Plan Investment Board


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




 MEMORIAM

+ Frank Meyer, founder of Computer Modelling Group; 77

+ Sherrold Moore, former Sr. VP @ Amoco Canada, philanthropist; 88




 KUDOS 

+ to 9/15ths of Calgary City Council for listening to Calgarians …




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ notice of termination while on disability leave – YES, or NO?

+ Government of Canada ending barriers to disabled immigrants




 INFRASTRUCTURE / P3  


+ Aecon Group Inc. consortium selected as preferred proponent for the Finch West LRT project in Toronto

+ Infrastructure Ontario published its RFQ short-list of prequalified proponents for the Orleans Health Hub project

+ Infrastructure Ontario issued an RFP to design, build, finance, operate and maintain the Hamilton LRT project




 CONSTRUCTION NEWS + INNOVATION 

+ Montreal put out the call for proposals to ‘reinvent’ a service yard




 QUOTES 

+ What would you attempt to do if you knew you would not fail? – Robert Schuller

+ Don’t blow out another’s candle for it won’t make yours shine brighter. – Jaachynma Agu




  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




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FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated April 17, 2018




 TODAY'S HEADLINES


HEADLINES: crude prices up | Notley to legislate export levels | Hines and Oaktree by First Tower | Horizon acquires Shelter Modular | TransMountain ‘Trudeau promises …. | Vermilion acquires Spartan + 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 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



 
DATACENTER

e-mail: June.Read@DataHive.ca



e-mail Norm Landry
 
PROJECT MANAGEMENT



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



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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 CALGARY OLYMPICS 2026 BID WATCH 


+ City Council voted to ‘go forward’ with next steps toward a bid; a subcommittee of council will oversee the bid process. City officials are working on selecting a Chair and CEO of the Olympic BidCo




 CORPORATE RESPONSIBILITY REPORTS 


+ Cadillac Fairview Corporation Limited published its 2017 Corporate Responsibility Report




 SAVE THE DATE / upcoming events

+ 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 ]



 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 ]



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NEWS SUMMARY 
 April 10 ~ 17 


+ Adecco Group acquired General Assembly for US$413.0 million

+ Allarco Entertainment (Super Channel) emerged from creditor protection

+ Canadian Refinery Overview 2018 – NEB’s Energy Market Assessment

+ current energy prices – live link to current Bloomberg energy prices; crude prices were up on middle-east unrest and tighter OPEC market, then softened as Syrian situation eased

+ GOA legislation; the Notley government is introducing the ‘Preserving Canada’s Economic Prosperity Act’ which will empower the government to restrict the export of natural gas, crude oil and refined fuels leaving the province; currently 80,000 barrels/day of refined fuels goes to B.C. in addition to crude oil and natural gas. B.C.’s Attorney General is threatening to sue Alberta … tic toc

+ Hines and Oaktree Capital Management (on behalf of unnamed funds) acquired Calgary’s First Tower (formerly known as the TELUS Tower) from H&R REIT; 708,354 sq. ft. bldg. is half-vacant. Terms not disclosed …

+ Horizon North Logistics Inc. closed its $4.75 million acquisition of Shelter Modular Inc.

+ iA Financial Group acquired ABEX Brokerage Services Inc.

+ NEB released a report on Canada’s refining industry: Canadian Refinery Overview 2018

+ rig counts: down 9 to 102 amid spring breakup; complete breakdown

+ Sturgeon Refinery (NorthWest Upgrading JV) announced another cost overrun; $300.0 million bump to projected total capital cost of $9.7 billion

+ Trans Mountain Pipeline $7.4 billion expansion: Prime Minister Trudeau promising legislation if necessary to push through Kinder Morgan’s project notwithstanding opposition of the B.C. government; emergency debate in the House of Commons … tic toc

+ U.S. rig counts: up 5 to 1,008 – full breakdown

+ Vermilion Energy Inc. agreed to $1.4 billion acquisition of Spartan Energy Corp.



THIS WEEK IN FINANCINGS 
- proposed & closed

+ Ceridian HCM Holding Inc. is on the market to raise US$600.0 million by IPO

+ CIBC’s FirstCaribbean International Bank Ltd. is on the market to raise US$240.0 million by IPO

+ Ensign Energy Services Inc. closed $11.05 million 2nd tranche of a convertible unsecured sub. debt financing

+ Marksmen Energy Inc. closed $425,666.0 first tranche of a common share & warrants issue by private placement




 this week in REITS 


+ Crombie REIT entered into two JV partnerships for new mixed use developments; LeDuke in Montreal and PrinceDev in Oakville

+ Hines and Oaktree Capital Management (on behalf of unnamed funds) acquired Calgary’s First Tower (formerly known as the TELUS Tower) from H&R REIT; 708,354 sq. ft. bldg. is half-vacant. Terms not disclosed …

+ Pure Industrial REIT got Investment Canada approval for its takeover deal with BPP Pristine Holdings ULC (affiliate of Blackstone Property Partners and the Core+; unitholder and court approval already in place




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Investors Group Trust Co. sold a nine-property Montreal portfolio to Fiera Properties; 925,807 sq. ft. of industrial assets – terms not disclosed




 INTERESTING THINGS IN RETAIL 


+ Isaac Larian led JV made a US$890.0 million bid to acquire Toys “R” Us Inc. stores in Canada and the United States ...




 INTERESTING THINGS IN INDUSTRIAL 


+ Clarion Partners acquired 3.8 million sq. ft. office portfolio from Pauls Corp.; Denver, Dallas, Las Vegas and Atlanta




 SHAREHOLDER MEETINGS

+ 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. 24; BMO Life Assurance Company, Annual Meeting of Shareholders and Policy Holders, Toronto

+ 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; Great-West Lifeco Inc., Annual and Special Meeting of Shareholders, Winnipeg

+ May 3; Source Energy Services Ltd., Annual General Meeting, Calgary

+ 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, Kitchener

+ 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; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ May 9; Enbridge Income Fund Holdings Inc., Annual Meeting of Shareholders, Calgary

+ May 10; TransGlobe Energy Corporation, Annual and Special Meeting of Shareholders, Calgary

+ May 12; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ 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 10; TransAlta Renewables Inc., Annual Meeting of Shareholders, Calgary

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

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

+ May 15; Innergex Renewable Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ 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