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news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary June21/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Ana Avramovic to Sales Director @ Voltus Inc.

+ Ben Vendittelli to Exec. VP, Chief Investment Officer @ Groupe Mach

+ Blair Goertzen to Director @ Keyera Corp.

+ Clint Miller to Global Director, Affinity Groups @ Avison Young

+ Dana Corkey to Marketing and Creative Strategy Mgr. @ CJ Campbell Insurance Ltd.

+ David MacNaughton, Canadian Ambassador to the United States @ Government of Canada, resigned

+ David Powell to Exec. VP, Development @ Northland Power Inc.

+ David Watson to Board Chair, Southern Alberta @ Habitat for Humanity

+ Don Morrison, Director @ Spark Power Group Inc., resigned

+ Eli Aviv to VP Finance @ GuestTek Interactive Entertainment Ltd.

+ Gary Patterson, Director @ Alaris Royalty Corp., resigning

+ Greg Bay to Director @ Gear Energy Ltd.

+ Greg Kist to Pres. & CEO @ Rockies LNG Partners

+ Greg Squires to VP Operations, Western Region @ Canadian Pacific Railway Limited

+ Guy Bainbridge to Director @ Manulife Financial Corporation

+ James Clements to Sr. VP Strategic Planning and Technology Transformation @ Canadian Pacific Railway Limited

+ Jared Ducs to CFO @ Surge Energy Inc.

+ Jennifer Arezes to Sr. Underwriter, Large Property Insurance Canada @ AXA XL

+ Jessica Roberts to Sales Representative @ Knoll

+ John Macdonald to Director @ Electrovaya Inc.

+ Jordy Chilcott to Pres. @ Sun Life Global Investments (Canada) Inc.

+ Jordy Chilcott to Sr. VP Investment Solutions  @ Sun Life Global Investments (Canada) Inc.

+ Julie Dickson to Director @ Manulife Financial Corporation

+ Ken Dixon to Sr. VP, Real Estate Management @ Epic Investment Services

+ Kurt MacAlpine to CEO and Director @ CI Financial Corp.

+ Laura Schwinn to Director @ Pason Systems Inc.

+ Mark Cooper to Director of Communications @ Government of Alberta

+ Mark Redd to Exec. VP Operations @ Canadian Pacific Railway Limited

+ Meghan Road to Interim CFO @ Roots Corporation

+ Melissa Morrison to Student Appeals Officer @ University of Calgary

+ Paul Wood to Pres. & COO @ Giant Tigers Stores Limited

+ Peter Grosskopf to Director @ Alaris Royalty Corp.

+ Robert Johnson, Exec. VP, Operations @ Canadian Pacific Railway Limited, retiring

+ Teri Lang to Mgr., Engagement Relations @ Calgary Chamber of Commerce

+ Terry Yanofsky to Director @ Reitmans (Canada) Limited

+ Wilson Wang to Director @ Gear Energy Ltd.

~

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




 MEMORIAM  

+ Jim Donlevy, legendary former Head Coach of University of Alberta Gold Bears, educator and sportsman; 82

+ Michael McDonald, former VP Finance & CFO @ Talisman Energy; 67




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ 1 in 3 Canadians planning to switch jobs within next 12 months …

+ learning agility is key to human leadership in the new world of work




 TECH Corner ...  

+ latest iPhone – the iPhone 11 is coming




 QUOTES 

+ The superior man understands what is right; the inferior man understands what will sell. – Confucius

+ Sustainability has to be a way of life to be a way of business. – Anand Mahindra




 KUDOS 

+ to Jon Cornish, former Calgary Stampeder running back, inducted into the Canadian Football Hall of Fame

+ kudos and a laugh: Forbes magazine have a feature article on Robyn and Mark Jones, formerly of Lethbridge, who’ve built a US$1.0 billion insurance business in Texas. The writer/editor at Forbes have no doubt missed visiting Alberta, but you gotta love their pun, indicating that the Joneses were from ‘Leftbridge, Alberta’ – you can’t make this stuff up




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

CLICK HERE FOR FULL GLOSSARY  




 SAVE THE DATE / upcoming events

+  Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 4; Canadian Apartment Investment Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

+ Sept. 14; Cerebral Palsy Association, Life Without Limits Challenge, Rotary Challenger Park, Calgary; info/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration

+ Sept. 17-19; Canadian Association of Professional Landmen (CAPL), 2019 Conference, Calgary; info/register

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Sept. 23-26; 2019 IREM Global Summit, Hilton Union Square, San Francisco; info/register

+ Sept. 25-26; Artificial Lift & Production Optimization, Western Canada 2019, Blackfoot Inn, Calgary; info/register

+ Sept. 25-26; Waterpower Canada Conference, Montreal; info/register

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Oct. 9; Energy Council’s 2019 Energy Person of the Year Award Dinner, Westin Hotel, Calgary; sponsor info/tickets

+ Oct. 21; tentative date, Federal Election – everywhere; Elections Canada are recommending staying with this date even though it conflicts with Shemini Atzeret Jewish holiday … tic toc

+ Oct. 21-25; Forests of Opportunity, 2019 SFI Annual Conference, Richmond, VA; info/register

+ Nov. 1; Stantec presents the 5th Annual Peter Burgener Memorial Charity Concert, Barney Bentall and The Cariboo Express in support of Classroom Champions, Bella Concert Hall at MRU, Calgary … save the date; register for RSVP Invitations

 + Nov. 6; Calgary Real Estate Forum, TELUS Convention Centre; info/register

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 19-21; ISSA Show North America 2019, Las Vegas, NV; info/register

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


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



 SHAREHOLDER MEETINGS

+ Aug. 14; CAE Inc., Annual Meeting, Saint-Laurent, QB

+ Aug. 16; Street Capital Group Inc., Special Meeting of Shareholders, Toronto

+ Aug. 21; The Wawanesa Life Insurance Company, Special Meeting of Shareholders and Policyholders, Winnipeg

+ Aug. 23; theScore Inc., Shareholder Meeting, Toronto

+ Sept. 17; Calgary Council of Voluntary Organizations (CCVO), Annual General Meeting, Calgary

~

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


 weekly newsletter

Est. July, 1999




 TODAY'S HEADLINES


HEADLINES: Air Canada buying Transat | Canadian Tire bought Party City | Canfor takeover bid | Intact buying On Side Restoration | Inter Pipeline in play + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




this  site refreshed with a new issue every Tuesday


current week data ~ updated August 13, 2019


Editor/Publisher: Mark Kolke



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:

A recent conversation with Denise Baril, Founder/Pres. @ Workplace Speaker Network

A recent conversation with Neil Camarta, Pres. & CEO @ Field Upgrading and former Sr. VP Oilsands @ Suncor and Royal Dutch Shell

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



 sponsors of this week's issue:

RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



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



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



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



CONTACT US
SALES COACHING



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



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



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



 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ 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

+ Aug. 21; NASCA (Northern Alberta Shopping Centre Assoc.) Charity Tournament in support of KidSport Edmonton, Belvedere Golf and Country Club, Sherwood Park; info/register

+ Aug. 22; BILD Calgary 2019 Industry Charity Tournament, Priddis Greens, Priddis; info/register

+ Aug. 29; Urban Measure Invitational for Cystic Fibrosis, Inglewood Golf & Curling Club, Calgary; info/register

+ 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

+ Sept. 19; Basecamp Resorts/Murrieta’s 1st Annual Charity Golf Tournament, Stewart Creek, Canmore; info/register

~

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




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NEWS SUMMARY 
 August 6 ~ 13 


+ Absorb Software acquired Learning Management System Learning

+ Air Canada and Transat agreed to increase the prices of Air Canada’s acquisition of Transat; all cash transaction will be $720.0 million

+ Canadian Tire Corp. acquired 65 Party City stores across Canada for $174.4 million

+ Canfor Corp. subject to $981.6 million takeover/take private bid from Great Pacific Capital Corp.; Jim Pattison controlled Great Pacific already controls 51% of Canfor

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; western Canadian inventories declined, Saudi intervention helped but crude prices fragile after recovering from last week’s sharp dip …

+ Equicapital Income Trust and Equicapital Investment Corp. completed acquisition of 70% interest in Wingenback Inc.

+ GOA news; MLAs getting a 5% pay cut, Premier Kenney’s salary cut 10%

+ GFL Environmental Inc. acquired Evergreen Industries Ltd.

+ Intact Financial Corporation agreed to acquire On Side Restoration; terms not disclosed

+ Inter Pipeline Ltd. confirmed a takeover bid has been received from an undisclosed party …

+ Inter Pipeline Ltd. is exploring sale of its European bulk liquid storage business

+ Inter Pipeline Ltd. announced plans to construct $100.0 million/75 km. Viking Connector pipeline; will move light crude from Viking/Mannville to Edmonton

+ Morneau Shepell Inc. completed its US$57.0 million acquisition of pension administration business of Mercer in the United States

+ New West Energy Services Inc. completed its reorganization

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 8 to 934 this week; Canada: up 3 to 140 this week; full breakdown

+ Stephen Avenue street-scape redo contact awarded; Gehl Studio will design it, Stantec will execute …




THIS WEEK IN FINANCINGS 
- proposed & closed

+ ARTIS REIT retained advisors and set up a special board committed for a strategic alternatives review

+ Bespoke Capital Acquisition Corp. is on the market to raise US$350.o million in equity by IPO

+ Correvio Pharma Corp. closed US$13.8 million equity financing

+ Crombie REIT is on the market to raise $200.0 million in equity

+ Eguana Technologies Inc. closed $1.215 million second tranche of an unsecured convertible debt financing by private placement

+ Firm Capital American Realty Partners Corp. closed $18.1 million convertible debt financing

+ Morguard North American Residential REIT is on the market to raise $100.0 million in equity

+ PRO REIT is on the market to raise $50.0 million in equity

+ R & R REIT agreed to acquire an eight-property hotel portfolio (906 keys) for US$52.0 million

+ Stuart Olson Inc. is on the market to raise $70.0 million in convertible debt

+ Sun Life Financial Inc. is on the market to raise $750.0 million in unsecured sub. debt as its inaugural sustainability bond

+ Sun Residential REIT closed $4.5 million equity financing by IPO

+ Tidewater Midstream and Infrastructure Ltd closed $75.0 million unsecured convertible sub. debt

+ Universal mCloud Corp. secured $13.0 credit facility

~

*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 …




 CORPORATE RESPONSIBILITY REPORTS 


+ Hydro One Limited published its 2018 Sustainability Report

+ Maple Leaf Foods released its 2018 Sustainability Report [118 page PDF download]




 INFRASTRUCTURE / P3  


+ following court ruling, SNC-Lavalin announced it will go forward with its $3.25 billion sale of 10.01% interest in 407 International Inc. to Canada Pension Plan Investment Board (CPPIB) who will now hold 50.1% of the Highway 407 system in the GTA




 CONSTRUCTION NEWS + INNOVATION 

+ fantastic interview with Frank Gehry at the Aspen Institute

+ PCL consortium to handle $1.5 billion rebuild four-tower complex government complex in Toronto

+ Spark Power Group Inc. and Spark Power Services Corp. acquired 3-Phase Electrical Ltd.

+ Stephen Avenue street-scape redo contact awarded; Gehl Studio will design it, Stantec will execute …




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Anthem Properties Group Ltd. acquired a mixed use property 45,000 sq. ft. building on 2.6 acre site near downtown Victoria

+ Centric Health Corporation agreed to sell its surgical and medical centres to Kensington Capital Advisors Inc. for $35.0 million

+ Clarke Inc. is making a bid to acquire all the shares of Holloway Lodging Corporation; deal values Holloway at $265.0 million. Clarke currently hold 51% of Holloway

+ Holloway Lodging Corporation sold two Nova Scotia hotels (Sydney and Truro) for $5.1 million and $3.0 million




 INTERESTING TRENDS IN RETAIL 


+ Canadian Tire Corp. acquired 65 Party City stores across Canada for $174.4 million

+ Ivanhoe Cambridge has halted its sale process to sell a non-managing interest in a 10 Canadian mall portfolio … tic toc

+ Makage opened its first store in Calgary at Chinook Centre




 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ NEXT Trucking is shaking up a niche and changing how business is done; prediction … NEXT will do to trucking what Uber did to the taxi industry

+ Prologis agreed to a staged acquisition of 473,000 sq. m. portfolio of Spanish logistics properties




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ QuadReal, Charter Hall and Abacus to acquire 68% of a Sydney, Australia office project for A$630.0 million




 this week in REITS 


+ ARTIS REIT retained advisors and set up a special board committed for a strategic alternatives review

+ Crombie REIT is on the market to raise $200.0 million in equity

+ Morguard North American Residential REIT is on the market to raise $100.0 million in equity

+ PRO REIT agreed to acquire a seven-property/696,000 sq. ft. portfolio for $97.8 million

+ PRO REIT is on the market to raise $50.0 million in equity

+ R & R REIT agreed to acquire an eight-property U.S. hotel portfolio (906 keys) for US$52.0 million

+ Sun Residential REIT closed $4.5 million equity financing by IPO




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