+ Jacques Parisien to Director @ The Guarantee Company of North America
+ Michael Cooper to Chairman @ DREAM Office REIT
+ Micheal Kelly to Director @ Economical Insurance
+ Peter Janson to Director @ The Guarantee Company of North America
+ Steve Thompson, Director @ Border Petroleum Limited, resigned
QUOTES
+ It’s not that I don’t believe in miracles, but I never quite trust that they’re real. – Mariel Heminway
+ I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour. – Ben Bernanke
FACILITYCalgary current week data
this site is refreshed with a new issue every Tuesday morning
updated ... April 7, 2015
TODAY'S HEADLINES
Alberta election call | crude oil up 5% | Calgary Flames ‘new home’ project | Century Downs opens | Laracina in CCAA | Prentice Watch | TransCanada re-think on Energy East terminal + Diane Jones Konihowski interview | upcoming events & corp. meetings + financings + executive and board appointments >>>>
+ CAPREIT closed its $53.7 million acquisition of 285 unit project in Burlington, ON
+ Crown Realty Partners acquired 3 bldgs. (465,306 sq. ft.) in Markham, ON - on behalf of Crown Realty III Limited Partnership
+ Killam Properties Inc. acquired the Brewery Market and Keith Hall properties in Halifax for $27.5 million
+ Milestone Apartments REIT closed US$40 million acquisition of 303-unit Heritage Millenia in Orlando, FL
+ Sears Holdings & General Growth Partnerships are forming a JV to purchase/leaseback 12 Sears properties; Sears will create a new REIT to hold a further 200 properties
SAVE THE DATE / GOLF TOURNAMENTS
+ June 8, IFMA Annual Golf Tournament, Inglewood Golf Course
+ Albertans will go to the polls in a Provincial Election; writ to be dropped today; Premier’s press conference at 10:30AM …. Election day will be May 5th …
+ Calgary Flames have gone public with their dream: location is West Village (GSL lands and Greyhound facility on Bow Trail … and adjacent lands, plans an arena, football stadium, athletic field house and possibly much more; the roles, players and share of costs, magnitude of costs, is ‘to be determined’ but with Ken King and Murray Edwards behind it, clearly the project has very determined advocates …
+ CBRE Group Inc. agreed to acquire Global WorkPlace Solutions from Johnson controls for US$1.48 billion
+ Century Casinos Inc. opened the Century Downs Racetrack and Casino in Balzac, adjacent to Cross Iron Mills
+ Connacher Oil & Gas Limited applied – and was refused – court approval to recapitalize outside Canada
+ Crius Energy Trust closed its US$19.1 million acquisition of TriEagle Energy LP
+ current energy prices: crude trading upward over concerns about Greece possibly defaulting on bailout package, Iran uncertainty, lower than expected U.S. inventory rise & eroding fear of interest rate increases …
+ European markets nervous again/still … risk of Greek default on IMF debt is in the news; assurances but so far no payment .. tic toc …
+ DREAM Unlimited Corp. and DREAM Office REIT have re-organized and internalized management
+ Encana Corporation and Cutbank Ridge Partnership closed a sale of Montney area natural gas and infrastructure to Veresen Midstream LP (Veresen & KKR LP 50/50); net to Encana was $461 million
+ Exall Energy Corporation in receivership, entire board resigned, ASC issued Cease Trade Order
+ Government of Canada is selling all of its GM Stock, 73.4 million shares (from the last recession bailout)
+ Keyera Corp. and Kinder Morgan Inc. announced a 50/50 JV to develop $330 million above ground crude storage facility near Edmonton
+ Laracina Energy Ltd. put into CCAA creditor protection due to default on payment on $150 million in debt to Canada Pension Plan and Investment Board
+ McCoy Global Inc. adopted a shareholder rights plan
+ Perpetual Energy Inc. and Tourmaline Oil Corp. completed their $258.7 million asset swap transaction
+ Prentice watch: announcements of new seniors housing ($180 million in grants for 31 projects), reassurance that $2 billion in promised school projects will be funded, re-announcing $1.3 billion infrastructure funding for municipalities, reassurances budget will provide $500 million for floor mitigation over 10 yr. program, and promises to fund road commitments around the province … which seems to add up to ‘too many promises’, so it looks like an election is imminent …
+ Pure Technologies Ltd. closed US$18.5 million acquisition of Wachs Valve and Hydrant Services LLC
+ RioCan REIT did a swap with Kimco; one property now Kimco’s 100%, two others (Brentwood Mall, Calgary and Grand Park, Mississauga ) now 100% RioCan
+ Slate Retail REIT agreed to acquire three assets from Slate U.S. Opportunity (No. 3) Realty Trust fro US$195 million
+ TerraVest Capital Inc. closed its acquisition of Signature Truck Systems Inc. and Lakeshore Metal Works Inc.
+ TransCanada Corporation closed the sale of its remaining 30% interest in Gas Transmission Northwest LLC to TC PipeLines LP for US$446 million
+ TransCanada Corporation announced it will alter its Energy East pipeline project; plans for a terminal at Cacouna cancelled due to environmental concerns (risk to Beluga whales)
+ TriOil Resources Ltd. changed its name to ORLEN Upstream Canada Ltd.
FINANCINGS - proposed & closed
+ Baytex Energy Corp. closed $632.5 million equity financing
+ Crius Energy Trust secured a $250 million credit facility
+ Gaz Metro Inc. closed $100 million secured debt financing
+ Pembina Pipeline Corporation is on the market to raise $200 million in a preferred share issue
+ RioCan REIT closed $175 million sr. unsecured debt financing
+ Veresen Inc. closed $200 million preferred share issue
this week in REITS
+ CAPREIT closed its $53.7 million acquisition of 285 unit project in Burlington, ON
+ DREAM Unlimited Corp. and DREAM Office REIT have re-organized and internalized management
+ Michael Cooper to Chairman @ DREAM Office REIT
+ Milestone Apartments REIT closed US$40 million acquisition of 303-unit Heritage Millenia in Orlando, FL
+ RioCan REIT closed $175 million sr. unsecured debt financing
+ RioCan REIT did a swap with Kimco; one property now Kimco’s 100%, two others (Brentwood Mall, Calgary and Grand Park, Mississauga ) now 100% RioCan
+ Sears Holdings & General Growth Partnerships are forming a JV to purchase/leaseback 12 Sears properties; Sears will create a new REIT to hold a further 200 properties
+ Slate Retail REIT agreed to acquire three assets from Slate U.S. Opportunity (No. 3) Realty Trust fro US$195 million
INFRASTRUCTURE / P3 / GREEN
+ Infrastructure Ontario & Metrolinx awarded a 30-yr. contract to Plenary Infrastructure ERMF to design, build, finance and maintain the East Rail Maintenance Facility; 500,000 sq. ft. GO Transit facility will cost $859.2 million
