+ Sept. 22-24; BOMEX 2020, 20th Annual Building Excellence Summit, JW Marriott Parq, Vancouver; save the date
+ Sept. 29-30; Business Transitions Forum, Westin Edmonton; info/registration
+ Sept. 30; Vancouver Real Estate Forum, Vancouver Convention Centre West, Vancouver; info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 28; BOMEX 2020 Virtual
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ Lord & Taylor/Le Tote filed for Chapter 11 bankruptcy protection; will conduct store closeout activities commenced at 19 of Lord & Taylor’s 38 locations
+ Moores 125 stores have CCAA implications relating to US Chapter 11 filings of Tailored Brands Inc. (Men’s Warehouse et al) …
+ Simon Property Group Inc. reported being in talks with Amazon.com to convert vacant J.C. Penny and Sears stores into fulfillment centres …
SAVE THE DATE - CHARITY GOLF TOURNAMENTS
+ Sept. 11; Alberta Treasury Management Charity Classic – in support of Big Brothers Big Sisters of Calgary and Area, Canmore Golf & Curling Club; info/registration
+ Alberta COVID-19 stats trending downward: 208 deaths, 1,125 active cases of 11,430 cases to date: aggregate Alberta data – currently, 68 Albertans are in the hospital with COVID-19, and 18 of those are in intensive care units
+ Alberta did a Stage 2 relaunch, allowing many more businesses to re-open and allowing a wider range of public gathering activities started June 12th; state of public health emergency status for Calgary, and for Alberta, now lifted. The maximum size of outdoor gatherings has been raised to 200
+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board
+ a NEW publication coming soon; I will start publishing PROPERTY LINES – 1st issue coming out August 15th; monthly newsletter focused on investment real estate, property management, foreclosures and insolvency in Alberta, and including trend indicators from national and international sources
+ Bonavista Energy Corporation got its final court order approving its recapitalization transaction
+ BP has determined it has US$17.5 billion in non-economically viable assets; looking to sell them; Canadian oilsands assets and Angola holdings are reported high on their list for sale; announcements reiterated BP’s commitment to being a net-zero emissions company by 2050 … tic toc …
+ Calfrac Well Service Ltd. got an Interim Order for its recapitalization transaction; meanwhile, significant shareholder Wilks Brothers LLC are pushing an alternate restructuring plan … tic toc
+ Century Casinos Inc.’s sub. Century Resorts Alberta Inc. agreed to sell its Century Casino Calgary operation for $10.0 million to 2267166 Alberta Ltd.; Century Resorts Alberta Inc. continue to operate the facility and own the real estate
+ CI Financial Corp. agreed to acquire a majority interest in Aligned Capita (their book is $10.0 billion)
+ Circa Enterprises Inc. agreed to acquire Teletics Inc.
+ Crowfoot Land & Livestock Corporation placed in receivership; MNP appointed receiver
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices holding steady – 5-month high on large drop in U.S. inventories; WTI and Brent up-ticking on increased Asian demand and in anticipation of a further U.S. US$1.0 trillion stimulus package
+ Optiva Inc. adopted a shareholder rights plan
+ Painted Pony Energy Ltd. agreed to be taken-over by Canadian Natural Resources Limited; $461.0 million transaction value - $111.0 million cash and assumption of debt
+ Ridgewood Capital Asset Management Inc. closed $8.2 million equity financing 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 or non-arm’s-length transactions …
+ Trump government levied tariffs on Canadian aluminum; the Government of Canada says it will retaliate with $3.6 billion in offsetting tariffs … tic toc
+ Alberta signed on to a Memorandum of Understanding for exploration of a nuclear power program – Small Modular Reactors – joining New Brunswick, Ontario, and Saskatchewan …
+ Connor, Clark & Lunn Infrastructure and Alpenglow Rail LLC acquired USA Rail; terminals in Port Allen and Port Arthur, Texas
+ RWE Renewables signed a long-term supply contract with Direct Energy to take 25MW of output from its recently commissions Taber County solar plant
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ Day & Ross Inc. acquired 100,000 distribution center in Cincinnati, OH
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES ...
+ in Edmonton, Pangman Development Corporation, and a group of orthopedic surgeons are proposing a private hospital facility in Edmonton; Dialog design/$200.0 million/270,000 sq. ft.; the site is the former Ericksen Nissan car dealership near the Royal Alexandra hospital – with plans for a Royal Alex entity and Ericksen family to hold the real estate; interesting project, laden with politics … tic toc
