+ Canadian Apartment Properties REIT (CAP REIT) acquired 58 suite property in Langley, BC for $17 million
+ CAP REIT entered into a JV, acquiring a one-third interest in King High Line Project (a mixed use project being developed in Toronto) from First Capital Realty for $60.3 million
+ H & R REIT closed $200 million sr. unsecured debt financing
+ Mohawk Medical Properties REIT acquired two medical facility buildings in Edmonton; terms not disclosed
+ PRO REIT agreed to acquire Boulevard Industrial REIT
+ RioCan REIT engaged advisors to seek ‘strategic alternatives for its U.S. portfolio
+ Slate Retail REIT agreed to acquire Meres Town Centre in Tarpon Springs, Florida for US$7.6 million
OIL SANDS NEWS
+ MEG Energy Corp. completed is major turnaround at its Phase 1, 2 and 2B facilities; will sell its interest in Access Pipeline, using proceeds for expansion and debt reduction
+ Blacksteel Energy Inc. agreed to acquire TERIC Power Ltd. for $11 million
+ BrightPath Early Learning Inc. agreed to sell its McKenzie Town facility to First Capital Realty Inc. for $7.5 million
+ Calgary population grows to 1,230,915 according to 2015 census
+ Canamax Energy Ltd. and Powder Mountain Energy Ltd. closed their combination transaction; will operate as Canamax
+ Cenovus Energy Inc. announced a reorganization; 300-400 head office job cuts this year, more next year
+ current energy prices – live link to Bloomberg energy prices ; crude futures edging up off six-month low, bleak outlook on global glut; major producers starting new rounds of cost cutting measures
+ Government of Canada sold 50.1% of the Canadian Wheat Board to G3 Global Grain Group; named will change to G3 Canada Ltd.
+ Grafton Fraser Inc. acquired Canadian stores of Jones New York chain; meanwhile, 92 U.S. stores will of Jones New York will be closed
+ Greek stock markets re-opened, dismally …
+ MEG Energy Corp. completed is major turnaround at its Phase 1, 2 and 2B facilities; will sell its interest in Access Pipeline, using proceeds for expansion and debt reduction
+ Mobius Resources Inc. and Sintana Energy Inc., agreed to a business combination
+ Northern Frontier Corp. closed its acquisition of Black Diamond Group’s construction services division
+ Parliament dissolved; election called for October 19th – will be longest and most costly campaign (78 days) since invention of television, and television will be rift with 11 weeks of attack ads – stay tuned
+ Petroamerica Oil Corp. and PetroNova Inc. completed their arrangement; will continue as Petroamerica
+ PRO REIT agreed to acquire Boulevard Industrial REIT
+ Provincial Treasurer Joe Ceci called for public input in his Budget 2015 and Budget 2106 process; feedback/link
+ RioCan REIT engaged advisors to seek ‘strategic alternatives for its U.S. portfolio
+ Royal Dutch Shell announced it will cut 6,500 jobs globally this year due to depressed crude prices
+ Sun Life Financial Inc. closed its acquisition of Prime Advisors Inc.
THIS WEEK IN FINANCINGS
- proposed & closed
+ Acasta Enterprises Inc. closed $350 million IPO
+ Canadian Pacific Railway Limited is on the market to raise US$800 million in mid-term debt
+ Edge Resources Inc. closed $500,000 equity financing
+ H & R REIT closed $200 million sr. unsecured debt financing
+ Tamarack Valley Energy Ltd. secured $165 million credit facility
+ Tricon Capital Group Inc. is on the market to raise $150 million in equity
INFRASTRUCTURE / P3
+ Billy Bishop Airport in Toronto completed/opened its 853 ft. underground pedestrian tunnel project (runs 11 feet under Lake Ontario; the $82.5 million P3 project involved Forum Equity Partners, PCL Constructors, Johnson Controls and Arup
+ Federal Government funding for improvements at Banff National Park; $44.2 million for repairs, maintenance at Johnston’s Canyon, Lake Minnewanka and Tunnel Mountain
+ Federal Government funding announcement: $583 million for Calgary SW ring road expansion on Tsuu T’ina lands
+ St. Patrick’s Island re-opened after 2-year facelift and flood remediation; includes constructed wetlands and bridge to East Village
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ Hydro Ottawa acquired 10 run-of-the-river hydro facilities from Fortis Inc.; 30.9 megawatts of capacity – terms not disclosed
+ U.S. President Obama unveiled a Clean Power Plan that will force U.S. power stations to reduce greenhouse gas emissions by 1/3rd within 15 yrs.; critics call it a war on coal …
QUOTES
+ I have just three things to teach: simplicity, patience, compassion. These three are your greatest treasures. – Lao Tzu
+ Choose a job you love, and you will never have to work a day in your life. – Confucius (of course, Confucius never worked in Calgary during an oil-price down turn …)
INTERESTING REAL ESTATE NEWS, other places
+ Canadian Apartment Properties REIT (CAP REIT) acquired 58 suite property in Langley, BC for $17 million
+ CAP REIT entered into a JV, acquiring a one-third interest in King High Line Project (a mixed use project being developed in Toronto) from First Capital Realty for $60.3 million
+ Mohawk Medical Properties REIT acquired two medical facility buildings in Edmonton; terms not disclosed
+ Slate Retail REIT agreed to acquire Meres Town Centre in Tarpon Springs, Florida for US$7.6 million
+ Vornado Realty Trust acquired 260 Eleventh Avenue (235,000 sq. ft. office building on leaded land) in Paramus, New Jersey for $110 million
