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FACILITYCalgary June21/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Akash Sahai to Director @ Posera Ltd.

+ Anne Marie Owens, Sr. Editor, National Post @ Postmedia Network Inc., resigned

+ Clinton Keay to CFO and Secretary @ Crombie REIT

+ Craig Mull to Director @ Cipher Pharmaceuticals Inc.

+ Cynthia Garneau to Pres. & CEO @ VIA Rail Canada

+ Dan Letkeman to Client Service Mgr. II @ Telus

+ Denis Girouard to Co-Head and Exec. VP, Financial Markets @ National Bank of Canada

+ Gayemarie Brown to Director @ Prodigy Ventures Inc.

+ Greg Kiraly, COO @ Hydro One Inc., sacked in a reorganization

+ Hugh O’Reilly, CEO @ OPTrust, resigned

+ Ignacio Cariaga to Sr. Cement Technical Services Mgr. @ Lehigh Hanson

+ Jamie Scarlett, Exec. VP & Chief Legal Officer @ Hydro One Inc., sacked in a reorganization

+ Jim Keohane, CEO @ HOOPP announced plan to retire

+ John Ewing to Director @ Centric Health Corporation

+ Katelin McNeil to Project Mgr. – International Concept Dev. @ CNOOC International

+ Ken Robertson to Director @ Sarment Intelligent Services

+ Kristen Brown to Mgr., Community and Public Affairs @ Fluor Corporation

+ Laurent Ferreira to Co-Head and Exec. VP, Financial Markets @ National Bank of Canada

+ Leslie O’Leary to VP Enterprise Tax @ Enbridge Inc.

+ Mark Kenney to CEO and Trustee @ CAP REIT

+ Mark Poweska to Pres. & CEO @ Hydro One Limited

+ Ricardo Pascoe, Chief Technology Officer & Exec. VP @ National Bank, retiring

+ Richard Pascoe, Chief Transformation Officer and Exec. VP @ National Bank of Canda, retiring

+ Rob Hislop to Estimator @ Graham Construction

+ Robert Masson, CFO @ Sleep Country Canada Holdings Inc., resigned

+ Scott Cryer to CFO and Corp. Secretary @ European Residential REIT

+ Sebastian Elawny to Partner, Calgary @ KPMG Law LLP

+ Sheila Frame to Director @ Theratechnologies Inc.

+ William Butt to Director @ CI Financial Corp.

~

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




 MEMORIAM

+ Barry Brovender CA, VP @ Trez Capital, dear kind friend of mine and trusted colleague passed away yesterday in Vancouver after a spirited battle with bladder cancer – he will be sadly missed by many




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ Boeing’s mea culpa

+ disconnect between leaders and employees on ‘innovative culture’




 QUOTES 

+ A creative man is motivated by the desire to achieve, not by the desire to beat others. – Ayn Rand

+ When you are grateful – when you see what you have – you unlock blessings to flow in your life. – Suze Orman




 CORPORATE RESPONSIBILITY REPORTS 


+ Sun Life Financial Inc. released its 2018 Sustainability Report and 2018 Public Accountability Statement


 INFRASTRUCTURE / P3  


+ Royal Inland Hospital Patient Care Tower $288.0 million project in Kamloops won named 2018 North American Social Infrastructure Deal of the Year




 CONSTRUCTION NEWS + INNOVATION 

+ PCL Construction teaming with machine learning firm on artificial intelligence

+ very cool external glass elevators for Aon’s new building in Chicago

+ no joke; robots to build 3D print dwellings on Mars – published on April 1st believe it, or not




  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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current week data

this  site is refreshed with a new issue every Tuesday


updated April 2, 2019




 TODAY'S HEADLINES


HEADLINES: Bellatrix recapitalizing | GPS speakers | Horizon Logistics closing | TransAlta under attack | TransCanada progress on KXL | ZCL merger approved + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + lots of financings this week




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 Laureen Regan, Pres. & CEO @ BOOM Group Inc.

A recent conversation with Mike Bodnar, Managing Principal @ Buffalo Fire Engineering Ltd.

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



 sponsors of this week's issue:

 
DATA CENTRE

e-mail: June.Read@DataHive.ca



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



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



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



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



e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



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

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

+ 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 ]




 this week in REITS 


+ Automotive Properties REIT closed $23.95 million acquisition from AutoCanada Inc., two auto dealership properties in Winnipeg

+ BSR REIT completed its US$53.1 million acquisition of Wimberly Apartments (372 units)

+ CAP REIT is on the market to raise $300.0 million in equity

+ CAP REIT agreed to acquire a portfolio (Atlantic Canada/Ontario/Alberta) consisting of 23 properties (3,469 suites) for $182.0 million

+ CAP REIT and European Residential REIT completed their transaction; 41 properties in the Netherlands for $326.5 million

+ Clinton Keay to CFO and Secretary @ Crombie REIT

+ Inovalis REIT agreed to acquire an office property/three buildings (204,718 sq. ft.) in Frankfurt, Germany

+ Mark Kenney to CEO and Trustee @ CAP REIT

+ NexPoint Hospitality Trust closed US$4,588,500.0 equity financing by IPO

+ Scott Cryer to CFO and Corp. Secretary @ European Residential REIT

+ WPT Industrial REIT agreed to acquire US$226.0 million logistics portfolio (2.2 million sq. ft./13 buildings and three land parcels) in Chicago, Milwaukee and Minneapolis




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ report indicates Canada is ahead in climate change ‘rate of warming’ ….




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NEWS SUMMARY 
 March 26 ~ April 2 


+ ALBERTA Election watch: leaders debate – April 4th

+ Bellatrix Exploration Ltd. announced plans for a recapitalization transaction to reduce and reorganize its debt

+ CHMC (Canada Mortgage and Housing Corporation) paid a $505.0 million dividend to its owner, the Government of Canada – the same owner (Mr. Trudeau, Mr. Morneau et al) who tightened the lending screws last year making home ownership for new home owners and mortgage financing tougher to get – good job guys, you made CMHC profitable to the detriment of the country – give yourselves a pat on the back …

+ CMLS Financial Ltd. agreed to merge with IC Funding

+ CO2 Solutions Inc. struck a board committee and engaged advisors to review strategic options

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; WTI and Brent crude prices up on supply concerns (thought Alberta inventories are up) … tic toc

+ Dundee Energy Limited made an assignment to creditors under the Bankruptcy and Insolvency Act; MNP Ltd. appointed bankruptcy trustee

+ Global Petroleum Show 2019 – released list of this year’s speakers

+ Horizon North Logistics Inc. completed its acquisition of NRB Inc.

+ Pieridae Energy Limited moving forward on its Golboro LNG project; Kellogg Brown & Root Limited engaged to do FEED work – construction to start this year with shipments expected to commence 2023/24

+ rig counts - Canada: down 17 to 88 this week; click for full breakdown

+ rig counts – U.S.: down 10 to 1,066 this week; full breakdown

+ TransAlta Corp. is under fire from significant holding activist shareholders over its recent $750.0 million convertible debt financing provided by Brookfield Renewable Partners LP … tic toc

+ TransCanada Corporation got a new U.S. Presidential Permit for its Keystone XL pipeline project

+ ZCL Composites Inc. plan of arrangement with Shawcor Ltd. got court and securityholders approval




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Aqua America Inc. closed $750.0 million equity investment from CPPIB

+ Axis Auto Finance Inc. secured a $100.0 million sr. secured revolving credit facility

+ Baylin Technologies Inc. closed $48.0 million in sr. debt financings

+ Builders Capital Mortgage Corp. is on the market to raise $1.4 million in equity by private placement

+ Cannacord Genuity Growth II is on the market to raise $87.0 million in equity

+ CAP REIT is on the market to raise $300.0 million in equity

+ Cargojet Inc. is on the market to raise $100.0 million in sr. unsecured debt

+ CellCube Energy Storage Systems Inc. is on the market to raise $10.0 million secured convertible debt financing

+ Chemistree Technology Inc. is on the market to raise $10,830,000.0 in debt by private placement

+ Clear Blue Technologies International Inc. closed $2.67 million final tranche of an equity financing by private placement

+ Cliffside Capital Ltd. closed $3.1 million equity raise by a rights offering

+ Ensign Drilling Inc. is on the market to raise US$700.0 million in sr. debt

+ Exchange Income Corporation closed $86.25 million debt financing by private placement

+ First Capital Property Trust closed $8,676,640.0 equity financing by private placement

+ First Cobalt Corp. closed $1.604,385.0 equity financing by private placement

+ Marksmen Energy Inc. closed $338,000.0 final tranche of an equity financing by private placement

+ MRF 2019 Resource Limited Partnership closed final $10.0 million tranche of its equity financing

+ NexPoint Hospitality Trust closed US$4,588,500.0 equity financing by IPO

+ Pembina Pipeline Corporation is on the market to raise $800.0 million in sr. unsecured debt

+ RYU Apparel Inc. closed $637,446.0 final tranche of an equity financing by private placement

+ SHARC International Systems Inc. is on the market to raise $5.0 million in convertible debt by private placement

~

*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 


+ Century Casinos Inc. opened its racing entertainment centre at Century Mile Racetrack and Casino in South Edmonton/Nisku on Edmonton Airport lands …

+ Holloway Lodging Corporation agreed to sell its Super 8 hotel property in Windsor, NS for $5.3 million

+ Hudson Pacific Properties announced it has acquired Bentall Centre in Vancouver in a JV with Blackstone Property Partners (Hudson Pacific 20% will operate, Blackstone 80%) from Anbang Insurance Group; terms not disclosed

+ KingSett Capital and partners acquired 1075 West Georgia (The Waffle Building) in Vancouver; terms not disclosed

+ TCL Asset Group Inc. et al acquired the assets of the Campbell’s Soup facility in Toronto; 600,000 sq. ft. – looking to sell, lease and re-purpose the facility




 SAVE THE DATE / upcoming events

+ Apr. 3; GPS presents 2019 Election Dialogues Breakfast, Calgary Petroleum Club; info/tickets

+ Apr. 4; Vancouver Real Estate Forum, Vancouver Convention Centre West; info/register

+ Apr. 3-5; Economic Developers Alberta, 2019 Annual Conference, Banff Centre, Banff; info/register

+ Apr. 9-10; ISA Calgary Show, Stampede Park, Calgary; info/book exhibit space

+ April 23; Canadian Gas Dialogues, Calgary Petroleum Club, Calgary; info/register

+ 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 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 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

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


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



 SHAREHOLDER MEETINGS

+ Apr. 2; Bank of Montreal, Annual Meeting of Shareholders, Toronto

+ Apr. 4; CIBC, Annual Meeting of Shareholders, Montreal

+ Apr. 4; Royal Bank of Canada, Annual Meeting of Common Shareholders, Halifax

+ Apr. 9; The Bank of Nova Scotia, Annual Meeting of Shareholders, Toronto

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

+ 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; Calgary Airport Authority, Annual General Meeting, Calgary

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

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

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

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

+ May 2; Manulife Financial Corporation, Annual 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; 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; Maxar Technologies Inc., Annual Meeting of Stockholders, Westminster, Colorado

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

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

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