FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

CONVERSATIONS

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alison Reed to Director @ CGI

+ Andrew Reardon, Director & Chair @ Canadian Pacific Railway Limited, retiring

+ Bruno Guilmette to VP & CFO @ Boralex Inc.

+ Carl Souchereau to Deputy Director @ Asset Performance Canada

+ Chris Hogue to Sr. VP, Canada @ International Petroleum Corp.

+ David Caldwell to Dir. Bus. Dev. @ TerraHDD Solutions Inc.

+ Dean Wulf to COO @ Avatex Developments

+ Ed Sobel to VP, Exploration @ @ International Petroleum Corp.

+ Gerardo Almaguer to Pres. & CEO @ Développement international Desjardins 

+ Ian Rae to Director @ Transat A.T. Inc.

+ Isabelle Courville to Chair @ Canadian Pacific Railway Limited

+ Jason Clemett to CEO @ Formual Fluid Systems Ltd.

+ John Festival to Director @ International Petroleum Corp.

+ Justin O’Shea to Staffing Mgr., Calgary @ Randstad Canada

+ Holly Yuzwa to Sr. Sales Mgr. Calgary Downtown/Beltline @ Residence Inn by Marriott

+ Howard Mann to CEO @ Alternate Health Corp.

+ Kathy Waller to Director @ CGI

+ Kevin Griffiths to Chair @ Alberta Safety Codes Council

+ Lori-Lynn Gregoire to Sr. Project Mgr. @ WSP

+ Luke Harrison to VP Bus. Dev. @ Horizon North Manufacturing

+ Melinda Park to Chair @ Southern Alberta Institute of Technology (SAIT)

+ Paul Haggis to Chair @ Alberta Enterprise Corporation

+ Rebecca Morley, Director @ Birchcliff Energy Ltd., resigned

+ Robert Mionis to Director @ Shawcor Ltd.

+ Stacey Hatcher to VP Communications @ Canadian Association of Petroleum Producers

+ Stacey McDonald to Director @ Birchcliff Energy Ltd.

+ Stefan Schauss to Director @ CellCube Energy Storage Systems Inc.

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




 MEMORIAM

+ Don Staus, Pres. & CEO @ Carrick Petroleum Inc.; 60




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ Wellbeing tech trends of 2019




 CORPORATE RESPONSIBILITY REPORTS 


+ Pembina Pipeline Corporation released its Sustainability Report; 48 page download




 QUOTES 

+ Life is ten percent what you experience and ninety percent how you respond to it. – Dorothy Neddermeyer

+ In order to be happy oneself it is necessary to make at least one other person happy. – Theodor Reik




  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

+ IMCO – Investment Management Corporation of Ontario

+ 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 December 18, 2018


 TODAY'S HEADLINES


HEADLINES: Aspen buys Sun Life Plaza | Bill C-69 in hands of Senate committee | Enbridge completed Spectra merger + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings




CONVERSATIONS

Last week's conversation with Darby Young, Chief Accessibility Strategist/CEO @ Level Playing Field

A recent conversation with George Mylonas, Pres. & CEO @ Landstar Communities

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



 sponsors of this week's issue:

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



CONTACT US
SALES COACHING



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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 SHAREHOLDER MEETINGS

+ Dec. 19; Blackbird Energy Inc., Special Shareholders Meeting, Calgary

+ Jan. 8; Aimia Inc., Special Meeting of Shareholders, Toronto

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




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Greenhouse Gas Pollution Pricing Act comes into effect Jan/2019; Blakes wrote a good piece on what this means for all of us: click here to download




 SAVE THE DATE / upcoming events

+ Feb. 19-21; 31st International Pipeline Pigging & Intergey Management Conference, Houston; info/registration

+ Feb. 21; B’nai Brith Annual Fundraising Dinner, Calgary; info – tickets/call 403-255-6554

+ Mar. 20; 2019 EPAC Awards Luncheon, Calgary Petroleum Club; info/register

+ Apr. 3-5; Economic Developers Alberta, 2019 Annual Conference, Banff Centre, Banff; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

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


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



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NEWS SUMMARY 
 December 11 ~ 18 


+ AltaGas Ltd. announced its 2019 CapEx Budget is $1.3 billion

+ Aspen Properties acquired Sun Life Plaza from Choice Properties REIT for $225.0 million

+ Athabasca Oil Corporation agreed to sell its interests in Leismer pipelines and Cheecham storage terminal to Enbridge Inc. for $265.0 million

+ Athabasca Oil Corporation announced its 2019 CapEx Budget is $95.0 million

+ Baytex Energy Corp. announced its 2019 CapEx Budget is $550.0 million

+ Bill C-69 passed 2nd reading in the Senate, now in committee: check out ARC’s Peter Tertzakian and Jackie Forrest in conversation with Canada West Foundation’s Martha Hall Findlay – 29 minute audio link

+ Cenovus Energy Inc. announced its 2019 CapEx Budget is $1.2 billion

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude price slump continues on stock market drops and weak Chinese demand

+ Echelon Wealth Partners Inc. agreed to acquire Dundee Securities Ltd.

+ Enbridge Inc. completed its acquisition/merger that acquired Spectra Energy Partners LP; Spectra is now a wholly owned subsidiary of Enbridge

+ Equicapita Income Trust acquired I-XL Building Products Ltd.; terms not disclosed

+ GOA is calling for Expressions of Interest in establishing new refining operations in Alberta: download the EOI call

+ Horizon North Logistics Inc. announced 2019 CapEx Budget is $50.0 million

+ International Petroleum Corp. completed its combination with BlackPearl Resources Inc.

+ Jupiter Resources Inc. got debtholder approval for its US$1.1 billion recapitalization under CBCA

+ Painted Pony Energy Ltd. announced its 2018 CapEx Budget is $95.0 million

+ Pembina Pipeline Corp. has delayed its decision to go forward with a $3.5 billion petrochemical facility … tic toc

+ Pond Technologies Holdings Inc. and Regenurex Health Corporation agreed to amalgamate; new entity will be Pond Naturals Inc.

+ rig counts - Canada: down 12 to 174 this week; click for full breakdown

+ rig counts – U.S.: down 4 to 1,071 this week; full breakdown

+ Standard Exploration Ltd. is changing its name to Southern Energy Corp.

+ TORC Oil & Gas Ltd. announced its 2019 CapEx Budget is $180.0 million

+ TransAlta Corporation announced its 2019 CaEx Budget is $170.0 million

+ TransCanada Corp. agreed to sell its 575MW Coolidge Generating Station in Arizona to Southwest Generating Operating Co. LLC for $623.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Accord Financial Corp. is on the market to raise $3.4 million in unsecured sub. Debt

+ Algonquin Power & Utilities Corp. is on the market to raise $172.5 million in equity

+ CAP REIT is on the market to raise $250.0 million in equity

+ Granite REIT secured a $300.0 million sr. unsecured debt facility

+ Northwest Healthcare Properties REIT is on the market to raise $125.0 million in convertible debt

+ Obsidian Energy Ltd. secured a $470.0 million syndicated credit facility

+ SPUD.ca (Sustainable Produce Urban Delivery Inc.) closed $11.0 million debt financing

+ 49 North Resources Inc. closed $452,571.0 rights offering

*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 …




 CONSTRUCTION NEWS + INNOVATION 

+ top 10 materials of 2018




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Brookfield Asset Management Inc. closed its US$11.4 billion acquisition of Forest City Realty Trust Inc.

+ Google plans to double its workforce in New York; they’ve announced a 1.7 million sq. ft. campus in Hudson Square that will serve as its primary location for their global operations

+ Oxford Properties Group acquired a portfolio in Australia; 5.3 million sq. ft. portfolio from Investa Office Fund (19 buildings) for $3.3 billion (A$3.4 billion)




 INFRASTRUCTURE / P3  


+ dam – flood prevention battle continues; Springbank dry reservoir flood-mitigation project is finally going to happen, but Rockyview County and T’suu Tina are saying whoa! … no word on whether Notley government will press on or re-think; either way, this is taking way too long and we are faced with another spring with our fingers crossed …

+ EllisDon awarded $239.0 million contract for major rebuild of Go train station in Vaughan, ON

+ the on-again/off-again issue of a new arena to replace the Saddledome is generating discussion again; Calgary Municipal Land Corporation is reporting to Calgary City Council that it can deliver a 20,000 seat area in the Victoria Park area …12 Ave & 4 St. SE, based on needs of the Calgary Flames Owners; who will pay / cost sharing is not yet agreed … tic toc

+ TransAlta Corporation exercised its option to acquire 50% of Tidewater Midstream and Infrastucture’s Brazeau River Complex and pipeline




 INTERESTING THINGS IN RETAIL 


+ MTY Food Group Inc. agreed to acquired South Street Burger; 26 franchised and 14 corporate stores

+ Staples Canada are launching a new concept; first one is Kirkland, QC – will incorporate a new branding and store layout. Also, introduction of co-working space and in-store café in their University Ave. location in Toronto; their new brand identity ‘The Working and Learning Company’ is a mouthful compared to ‘Staples’ … we’ll see if that gets traction … tic toc 




 INTERESTING THINGS IN INDUSTRIAL REAL ESTATE 


+ Amazon Canada announced it will open a new 1.0 million sq. ft. fufillment facility in Leduc County, just outside Edmonton; ONE Properties and TD Greystone Asset Management are the developers

+ Concert Properties’ CREC Commercial Fund LP acquired a 3 building/121,951 sq. ft. portfolio (Richmond, BC; Calgary, AB and Vaughan, ON) of three full leased industrial buildings




 this week in REITS 


+ Automotive Properties REIT closed its $101.4 million acquisition of an 11 automotive properties portfolio in Ottawa and Kingston

+ CAP REIT is on the market to raise $250.0 million in equity

+ CAP REIT agreed to a property transaction with European Commercial REIT; EC REIT will acquired 41 properties (2,091 suites) from CAP REIT for $634.0 million

+ Granite REIT secured a $300.0 million sr. unsecured debt facility

+ Northwest Healthcare Properties REIT is on the market to raise $125.0 million in convertible debt

+ Plaza Retail REIT acquired Quispamsis Town Centre (New Brunswick) for $12.55 million

+ Skyline Commercial REIT acquired nine/1.3 million sq. ft. portfolio of temperature controlled facilities (Quebec and Western Canada) for $190.0 million from Congebec Logisitics

+ Summit Industrial Income REIT waived conditions – will go forward with $328.6 million – 2.1 million sq. ft. (GTA, Ottawa, Montreal and Alberta) – 998,095 sq. ft. portfolio acquisition   


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this site last updated May 6, 2025