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

FACILITYCalgary June28/22

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ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Denise Weeres to Director, New Economy @ Alberta Securities Commission

+ Derek Evans to Director, Pres. & CEO @ MEG Energy Corp.

+ Derek Hudson to Pres. & CEO @ Edmonton Economic Development Corp.

+ Devon Griffiths to COO @ Granite Oil Corp.

+ Eduard van Geldersen to Sr. VP & Chief Investment Officers @ Public Sector Pension Investment Board

+ Elias Olmeta to Director @ AutoCanada Inc.

+ Gail Hibbs to Director, Client Services @ Odyssey Trust Company

+ Greg Metcalfe to Sr. VP & CFO @ CAN Canada

+ Henry Hamm, Director @ Granite Oil Corp., retired

+ Michael Kitt to Head, Real Estate Equity Investments @ RBC Global Asset Management

+ Michael Rawluk to Director @ AutoCanada Inc.

+ Paul Antony to Exec. Chairman @ AutoCanada Inc.

+ Samir Sabharwal to General Counsel @ Alberta Securities Commission

+ Stephen Green to Director @ AutoCanada Inc.

+ Stephen Landry, CEO @ AutoCanada Inc., stepped down

+ Ted Redmond to Pres. & CEO @ ZCL Composites Inc.

+ William Berman to Pres., United States @ AutoCanada Inc.


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




 MEMORIAM

+ Paul Cantor, industry legend and Chairman @ Quadreal Property Group; 76

+ Ryan Bischoff, co-founder of BNG Engineering; 46




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ things employees don’t want to talk about

+ details in demotion …




 CALGARY OLYMPICS 2026 BID WATCH 


+ next Olympic and Paralympic Games Assessment Committee Meeting – Aug. 21

+ the bid process




 CHARITY GOLF TOURNAMENTS 

+ Aug. 29-Sept. 2; Shaw Charity Classic, Canyon Meadows Golf & Country Club, Calgary; tickets/donate

+ Sept. 5-6; Calgary Flames Celebrity Charity Golf Classic, Country Hills Gold Club Calgary and Links of Glen Eagles, Cochrane; info/registration

+ Sept. 7; Calgary Drop-in & Rehab Centre – Kindness Open, Silvertip Resort, Canmore; info/register/sponsor

+ Sept. 16; Give’r FORE Liver Charity Golf Tournament, Fox Hollow Golf Course, Calgary; info/register


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Calgary had its hottest day on record, August  13 - 36.4 C [97.52F]; previous record was 36.1C in 1933 and 1919




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ 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

+ 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

+ 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

+ IPO – Initial Public Offering

+ 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 morning


updated August 14, 2018




 TODAY'S HEADLINES


HEADLINES: Cenovus asset sale | Ensign bid for Trinidad | Genesis mall project | Gibson expansion | TransMountain cost up $1.9 billion + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

Last week's conversation with Susan Otterson, Pres. @ ABL Imaging Group

A recent conversation with Trevor Winkler, Regional Managing Partner @ MNP

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



 sponsors of this week's issue:

click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



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 MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



 SAVE THE DATE / upcoming events

+ Sept. 1-2; Canmore Highland Games, Centennial Park, Canmore; info/tickets

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 5; Canadian Apartment Investment Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 25-27; International Pipeline EXPO, Telus Convention Centre, Calgary; info/registration

+ Sept. 6; RealREIT Conference, Metro Toronto Convention Centre, Toronto; program/registratio

+ Oct. 23-25; 2018 CanWEA Annual Conference and Exhibition, BMO Centre, Stampede Park, Calgary; info/registration

+ Oct. 30; 24th Annual Joint Conference – GPAC/PJVA; Calgary Petroleum Club, Calgary; info/registration
+ Nov. 13; Calgary 2026 Winter Olympic Bid Plebiscite – where/when to vote

+ Nov. 28-29; Real Estate Forum, Metro Toronto Convention Centre, info/register

+ Dec. 9-10; 9th Annual Sustainable Innovation Forum 2018/COP24, Katowice, Poland; info/register

~~

+ May 26-29/2019; 10th Annual Clean Energy Ministerial and 4th Annual Mission Innovation, Vancouver; details


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



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NEWS SUMMARY 
 August 7 ~ 14 


+ Air Canada – Canada’s Best New Restaurants; long list announced [4 are Calgary operations ]

+ Apache Corp. announced plans to launch a new US$3.5 billion midstream company to be called Altus Midstream; will cater to Texas shale oil & gas market

+ Cenovus Energy Inc. agreed to sell the general partnership interest in Pipestone and Wembley natural gas and liquids business to NuVista Energy Ltd. for $625.0 million

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; heavy crude differential narrows - crude prices were perking up in the last week on concerns about limited supply and Iran sanctions but reports of U.S. inventory build at Cushing pushed WTI prices down; Brent down as well …

+ Eagle Energy Inc. closed the $12.82 million sale of its Twining, AB assets

+ Ensign Energy Services Inc. made an unsolicited offer to acquire Trinidad Drilling Ltd. in an all cash deal – transaction value approximately $947.0 million

+ Genesis Land Development Corp. plan for a $300.0 million mega-mall in RockyView County, a plan for 1.4 million sq. ft. of retail and industrial space on 717 hectares – and opposed by City of Calgary, has gone to the Municipal Government Board for decisions … tic toc

+ Gibson Energy Inc. announced it will expand its Hardisty (by 1.0 million barrels) and Moose Jaw facilities

+ GMP Capital Inc. cutting its staff 10% due to slowdown in energy financings

+ Iran is asking OPEC to call an extraordinary meeting over concerns OPEC members are not meeting their commitments to reduce output … tic toc

+ Kinder Morgan Canada now predict the Trans Mountain pipeline expansion project will cost $1.9 billion more than originally forecast

+ rig counts: down 14 to 209 this week – click for full breakdown

+ Saudi Arabia cutting crude production (down 200,000bpd in July); OPEC is forecasting 2019 surplus supply …

+ Swerve Magazine ceased publication after 14 yrs.

+ TORC Oil & Gas Ltd. closed its acquisition of a Midale area company, Villanova 4 Oil Corp., in cash and shares transaction

+ U.S. rig counts: up 13 to 1,057 this week – click for full breakdown




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Crius Energy Trust secured $140.0 million credit facility

+ Crius Energy Trust secured $110.0 million syndicated working capital facility

+ Groundstar Resources Limited closed $171,000 2nd tranche of an equity financing

+ NuVista Energy Ltd. is on the market to raise $170.0 million in equity

+ NuVista Energy Ltd. is on the market to raise $214.0 million in equity by private placement

+ NuVista Energy Ltd. is on the market to raise $35.0 million in a flow-through common share issue by private placement


*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower …




 QUOTES 

+ Go for it now. The future is promised to no one. – Wayne Dyer

+ You may delay, but time will not and lost time is never found again – Benjamin Franklin




 this week in REITS 


+ CAPREIT closed its acquisition of a new 90-suite property in Langley, BC for $33.0 million

+ City Office REIT purchased The Quad, 166,606 sq. ft. campus in Scottsdale, AZ for $51.0 million

+ Partners REIT agreed to sell Mariner Square in Campbell River, BC; net proceeds $13.0 million

+ True North Commercial REIT agreed to acquire 60,000 sq. ft. office property in Markham, ON for $20.35 million




 INFRASTRUCTURE / P3  


+ Bird Construction Inc. led consortium selected to build nine OPP facilities

+ Canada Infrastructure Bank planning to place $180.0 billion in P3 projects starting in early 2019

+ Rokstad family acquired full ownership of Rokstad Power Group of Companies from the Carillion Group




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Brookfield Asset Management Inc. acquired a 99-yr. ground lease from Kushner Co. for 666 Fifth Avenue (41-storey, 1,463,892 sq. ft.) in New York; terms not disclosed

+ Minto Capital Management Inc. reduced its position in Minto Place Complex in Ottawa; now a three-way partnership in the project: Minto, Investors Group and LaSalle Investment Management

+ Parkbridge Lifestyle Communities acquired Worthington Park Community in Kingston, ON; terms not disclosed

+ Parkit Enterprise Inc. sold its JV asset - Terra Park, Jacksonville, FL; US$6.83 million plus US$750K/mth for a year

+ Regina Leader-Post building sold to syndicate of Saskatchewan investors; terms not disclosed




 INTERESTING THINGS IN INDUSTRIAL REAL ESTATE 


+ Goldman Sachs Asset Management Private Real Estate acquired 10 properties in the Chicago area; adding 830,000 sq. ft. to its portfolio




 INTERESTING THINGS IN OFFICE REAL ESTATE 


+ Adventus Realty Services acquired TownPark Commons in Kennesaw, Georgia; 1.0 million sq. ft./4 buildings on 22.2 acres for US$73.3 million

+ trending back to privacy? Great article on workplace design




 SHAREHOLDER MEETINGS

+ Aug. 21; Raging River Explorartion Inc., Special Meeting of Shareholders, Calgary

+ Aug. 21; Baytex Energy Corp., Special Meeting of Shareholders, Calgary

+ Sept. 12; GreenSpace Brands Inc., Annual and Special Meeting of Shareholders, Toronto


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



 CORPORATE RESPONSIBILITY REPORTS 


+ Cenovus Energy Inc. published its 2017 Corporate Responsibility Report




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

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