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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Al Bellstedt, Chairman @ Stuart Olson Inc., retiring

+ Alain Champagne to Pres. @ Jean Coutu Group Inc.

+ Ashley Cawdle to Che De Cuisine @ Teatro Group

+ Bernard McDonell to Chairman @ First Capital Realty

+ Carl Souchereau to Managing Dir. @ Asset Performance Canada

+ Carla Hansen to IS Financial Analyst @ TransCanada Corporation

+ Chaim Katzman, Director @ First City Capital, stepping down

+ Corrie Barrie to CEO @ Best Buy Co. Inc.

+ Craig Hayman to Commissioner @ Ontario Securities Commission

+ David Filmon to Chairman @ Stuart Olson Inc.

+ François Coutu, Pres. @ Jean Coutu Group (PJC) Inc., retiring

+ Ian Ross to Interim CEO @ Partners REIT

+ James Bond to Chief Compliance Officer & General Counsel @ Wawanesa Insurance

+ Jane Domenico, Trustee & CEO @ Partners REIT, resigned

+ Jason Roth, ITSM Team Lead @ BURNCO Rock Products Ltd., resigned

+ Jeffrey Mooallem, Director @ First City Capital, stepping down

+ Joelle Mar to Director, Development and Campaigns @ Calgary Health Trust

+ Michelle Cook to Acting Assistant Communications Director, Calgary @ Government of Alberta

+ Mike Lasby to Building Science Engineer@ Morrison Hershfield

+ Miranda Fisher to Learning and Development Specialist @ Repsol

+ Morten Aksdal to Sr. Account Mgr. @ Telus

+ Nancy Lepler to Chief Merchant @ Roots Corporation

+ Peter Anderson, CEO @ CI Financial Corp., retiring

+ Ron Dizy to Chief Strategy Officer @ Spark Power Group Inc.

+ Sean Baylis to VP, Portfolio Mgr. & Wealth Advisor @ RBC Dominion Securities

+ Sean Dollinger to Pres. & CEO @ New Spark Media Inc.

+ Stephane Poirier to Pres. & CEO @ Quebec City Jean-Leasage International Airport

+ Taisa Ballantyne to Engagement Strategist, Social Innovation Institute @ MacEwan University

~

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




 MEMORIAM

+ Marsha Hanen C.M., former Professor and Dean of General Studies @ University of Calgary; 83



 HUMAN RESOURCES + WORKPLACE TRENDS 

+ finding the next generation of leaders

+ can you be flexible? Six steps to a flexible workplace




 TECH Corner ...

+ Mueller report tells how the Russians did their hacking

+ Samsung delaying launch of its Galaxy Fold model indefinitely due to technical problems




 QUOTES 

+ If you are really thankful, what do you do? You share – W. Clement Stone

+ It does not do to dwell on dreams and forget to live. – J.K. Rowling




 CONSTRUCTION NEWS + INNOVATION 

+ costs up due to steel and aluminum tariffs

+ 17th Avenue SW (The Red Mile) construction pause is over; now that the Flames playoff run is over, construction resumes …




 this week in REITS 


+ CAP REIT closed its acquisition of Willoughby Walk (191 units) in Langley, BC for $69.6 million

+ Dream Industrial REIT is on the market to raise $144.0 million in equity

+ ERES REIT agreed to acquire a portfolio of Dutch properties from CAP REIT for €333.0 million

+ Ian Ross to Interim CEO @ Partners REIT

+ Jane Domenico, Trustee & CEO @ Partners REIT, resigned




  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




 CORPORATE RESPONSIBILITY REPORTS 

+ The Billy Bishop Toronto City Airport – 2nd Annual Sustainability Report




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ New York City will soon have the world’s largest solar roof; the Javits Center installation will have 4,000-panels




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current week data

this  site is refreshed with a new issue every Tuesday


updated April 23, 2019




 TODAY'S HEADLINES


HEADLINES: Alberta elects Kenny/UCP | Calgary Flames out of playoffs | crude way up! | earth day yesterday | Eau Claire project delay + 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:

Watch for next week's conversation with Carol Kitchen, Pres. & CEO @ UFA (United Farmers of Alberta)

A recent 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 ...



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



 INFRASTRUCTURE / P3  


+ Alberta $590.0 million SuperLab project at University of Alberta Campus has been ‘paused’; Jason Kenny, while campaigning, vowed to cancel the project … tic toc

+ BC Hydro announced $289.0 million (Federal gov’t contributing $83.6 million) in funding for a new power transmission line in the Peace region

+ SNC-Lavalin JV with Holtec International (Comprehensive Decommissioning International LLD), secured $1.0 billion U.S. nuclear decommissioning contract – three nuclear reactors in Buchanan, New York




 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 16 ~ 23 


+ Alberta election watch: Jason Kenny led UCP party won 63 seats, Rachel Notley’s NCP won 24; every other party zero seats. Premier and cabinet to be sworn in April 30; senior officials have been named: Jamie Huckabay, Chief of Staff; Howard Anglin, Principal Secretary; Katy Merryfield, Exec. Dir. Communications and Planning; Christine Myatt, Director of Communications and Press Secretary; David Knight Legg, Head of Transition

+ Calgary Flames eliminated from NHL playoffs by Colorado Avalanche in five games

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices well up on supply concerns, increased Chinese demand impacting world markets and U.S. plans to rescind exemption from sanctions for buyers of Iranian oil

+ Earth Day yesterday

+ Harvard Developments have again delayed going forward with its Eau Claire market site redevelopment pending Greeline LRT routing and station locations together with the soft market …

+ Pine Cliff Energy Ltd. agreed to acquire a portfolio of oil & gas assets for $8.6 million

+ Pine Cliff Energy Ltd. announced an increase of its 2019CapEx Budget to $11.1 million

+ Return Energy Inc. engaged advisors to assist in reviewing strategic alternatives

+ rig activity in Canada

+ rig counts – U.S.: down 10 to 1,012 this week; Canada count steady at 66 this week; full breakdown

+ Trans Mountain Pipeline Expansion Project approval date pushed back to June 18th by Federal Government because of need for more indigenous stakeholder consultation time …




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Bank of Montreal closed $350.0 million preferred share financing

+ CargoJet Inc. closed $100.0 million sr. unsecured debt financing

+ Dream Industrial REIT is on the market to raise $144.0 million in equity

+ Enerkem Inc. closed $76.3 million equity financing

+ Equitable Group Inc. closed $150.0 million debt financing

+ Firm Capital Property Trust is on the market to raise $26.0 million in equity

+ GFL Environmental Inc. is on the market to raise US$600.0 million in sr. debt by private placement

+ Pine Cliff Energy Ltd. is on the market to raise $3.0 million in equity by private placements

+ Surge Energy Inc. is on the market to raise $30.0 million in convertible unsecured sub debt

+ Venzee Technologies Inc. is on the market to raise $2.0 million in equity

~

*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 


+ Hyduke Energy Services Inc. completed the sale of its head office facility and lands in Nisku, AB

+ Notre Dame cathedral in Paris to be rebuilt, expected to take five to 15 years – substantial funds (US$1.0 billion so far) are being donated by French corporations and individuals toward the reconstruction




 INTERESTING TRENDS IN RETAIL REAL ESTATE 


+ Mountain Equipment Co-op (MEC) are using augmented reality (AR) to economize on space at its new 35,750 sq. ft. flagship store in Toronto; without using space you can do a 360-degree view of 130 different tent models … very cool

+ Tim Hortons franchisees agreed to a settlement of their dispute with parent company; terms kept confidential by court order




 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ Dream Industrial REIT agreed to acquire four industrial properties (797,000 sq. ft./Toronto, Ottawa, Columbus, OH) for $107.0 million

+ Lululemon in process of planning 580,000 sq. ft. facility in the Great Northern Way in Vancouver; rezoning work underway …




 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; 2019 OpEx, 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

+ June 18; S&P Global Platts Calgary Oil & Energy Forum, Calgary Marriott Downtown, 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. 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

+ Apr. 30; Transat A.T. Inc., Annual and Special 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 2; SNC-Lavalin, Annual Shareholders Meeting, Montreal

+ 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 Shareholders, Calgary

+ May 3; Tervita Corporation,  Annual General Meeting of Shareholders, 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; Equitable Life Insurance Company of Canada, Annual and Special Meeting, Waterloo, ON

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

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

+ May 8; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ 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 22; Stuart Olson Inc., Annual and Special Meeting, 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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