+ Ashley Buchanan to CEO @ The Michaels Corporation

+ Axel Schwan to Regional Pres., Tim Hortons for Canada & U.S. @ Restaurant Brands International

+ Carla Smith to Sr. VP Specialty Solutions, Canada @ Intact Financial Corporation

+ Dennis Mullenburg, CEO @ Boeing Inc., fired

+ Felix Betancourt to Interim CEO @ ARROW Exploration Corp.

+ Fotis Kalantzis to Pres. & CEO @ Return Energy Inc.

+ Gerald Scherman to Director @ Karnalyte Resources Inc.

+ Geri Greenall to CFO @ Return Energy Inc.

+ John DeSanti to Board Director @ Prostate Cancer Centre

+ John Hepburn to CEO & Scientific Director @ Mitacs Inc.

+ Kary Benner to Team Lead @ Holland Design

+ Katie Fontana to VP & CFO @ Birks Group Inc.

+ Ken Anderson to Sr. VP Investor Relations & Corporate Dev. @ Intact Financial Corporation

+ Lucio Di Clemente to Director @ Spark Power Group Inc.

+ Mark Gifford to CEO @ Real Estate Foundation of BC

+ Mike Watters to Business Dev. Mgr. @ Certarus Ltd.

+ Pasquale Di Lillo, VP & CFO @ Birks Group Inc., resigned

+ Pete Weightman to Sr. VP & Chief Underwriting Officer @ Intact Financial Corporation

+ Peter Taylor to Pres. @ Perpetuo Limited

+ Rene Tremblay to Trustee @ CAP REIT

+ Shiraz Ahmed to CFO @ Fairstone Financial Inc.

+ Sri Dronamraju to Chief Information Security Officer @ BMO Financial Group

+ Susan Jenah to Director @ Hydro One Inc.

+ Tracey Black to Pres. & CEO @ Payments Canada

+ Travis Kalanick, Director @ Uber, resigned

~

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

+ prediction of HR trends for 2020

+ making diversity and inclusion a priority

+ Jan. 7; Starlight U.S. Multi-Family (No. 1) Value-Add Fund, Special Meeting of Unitholders, Toronto

+ Jan. 9; NAV Canada, Annual Meeting, Ottawa

+ Jan. 21; Alberta Real Estate Association, Annual General Meeting, Red Deer

+ Jan. 24; Aimia Inc., Special Meeting of Shareholders, Montreal

+ Mar. 21; Arrow Exploration Corp., Annual General and Special Meeting, Calgary

~

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

+ Automotive Properties REIT closed $92.0 million equity financing

+ CAP REIT closed its $13.4 million purchase of Redwood Manor (48-suites) in New Westminster, BC

+ ERES REIT closed $144.0 million equity financing

+ ERES REIT closed €105.0 million acquisition of 222 suite building in the Netherlands

+ Firm Capital Property Trust closed $23.0 million equity financing

+ First Capital Realty Inc. completed its conversion to a REIT structure

+ Germain Hotels closed $50.0 million equity raise

+ Granite REIT acquired two industrial buildings in Mississippi and three development properties in Dallas for $246.7 million  

+ Inovalis REIT closed $51.5 million equity financing

+ Morguard North American Residential REIT closed its acquisition of remaining 50% of the Marquee in Chicago; will hold as 50/50 JV with Morguard who increased its position from 49% to 51%

+ NorthWest Healthcare Properties REIT closed $253,150,000.0 equity financing

+ PRO REIT closed its $8.5 million acquisition of Burnside Industrial Park building in Halifax; 50,000 sq. ft. fully leased property

+ Rene Tremblay to Trustee @ CAP REIT

+ SmartCentres REIT closed $450.0 million debt financing

+ Subversive Real Estate Acquisition REIT LP is on the market to raise US$200.0 million in equity by IPO

+ True North Commercial REIT closed its $117.8 million acquisition of Trillium Executive Centre in Markham, ON

+ to the honoured recipients; the Governor General made 120 new appointments to the Order of Canada

 weekly newsletter

Est. July, 1999

HEADLINES: crude prices are up | First Capital Realty is now a REIT | Gibson terminal expansion | MDA to be Canadian again | ICON park sold | Pembina acquired KML | TC Energy selling stake in Coastal GasLink + deals + rig counts + upcoming events, appointments + REIT NEWS + financings

DARE TO LEAD™ | Calgary

January 30 - 31, 2020

Early Bird: $1,450 until December 15

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+ Absorb Software agreed to acquire ePath Learning

+ AltaGas Ltd. announced its 2020CapEx Budget is $900.0 million

+ Boulder Creek Golf Course Ltd. and Silverwing Golf Course Ltd. and related limited partnerships were place in receivership; PricewaterhouseCoopers Inc. is court appointed Receiver

+ Canadian Pacific closed its acquisition of Central Maine & Quebec Railway

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude up to three-month high, cautiously on expectation of U.S. – China trade deal firming, Middle-East tensions and market response to inventory build

+ Encana filed regulatory papers to shift operations to U.S.

+ Essential Energy Services Ltd. announced its 2020CapEx Budget is $5.0 million

+ Gear Energy Ltd. announced its 2020CapEx Budget is $50.0 million

+ Gibson Energy Inc. announced it will expand its Hardisty Terminal; 1.0 million barrels of new tankage will be in service by end of 2020

+ Hungerford Properties sold Icon Business Park; business terms and new owner not disclosed; Equium Group announced they will manage the property for the new owners …

+ Northern Private Capital agreed to acquire/repatriate MDA (MacDonald Detweiler) from Maxar Technologies for $1.0 billion; the maker of the Canadarm will be 100% Canadian again

+ Pembina Pipeline Corporation closed its acquisition of Kinder Morgan Canada Limited

+ Pengrowth Energy Corporation sale to Cona Resources Ltd. got shareholder, debt holder, and court approval

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 8 to 805 this week; Canada: down 50 to 99 this week; full breakdown

+ SNC-Lavalin Group Inc. pled guilty to federal government fraud changes, paid $280.0 million fine

+ Sun Life agreed to acquire 80% interest in Infrared Capital Partners for $1.0 billion

+ TC Energy agreed to sell a 65% stake in new $6.2 billion 670-km. Coastal GasLink pipeline; a JV of KKR and AIMCo – terms not disclosed

+ Automotive Properties REIT closed $92.0 million equity financing

+ Bausch Health Companies Inc. is on the market to raise $1.25 billion in sr. debt by private placement

+ ERES REIT closed $144.0 million equity financing

+ E3 Metals Corp. closed $907,000.0 tranche of an equity financing by private placement

+ Firm Capital Property Trust closed $23.0 million equity financing

+ Gateway Casinos is on the market to raise US$1.1 billion in equity by IPO

+ Inovalis REIT closed $51.5 million equity financing

+ mCloud Technologies Corp. is on the market to raise $10.0 million in equity by private placement

+ NorthWest Healthcare Properties REIT closed $253,150,000.0 equity financing

+ Return Energy Inc. closed $25.0 million equity financing by private placement

+ SmartCentres REIT closed $450.0 million debt financing

+ Starlight U.S. Multi-Family (No. 1) Core Plus Fund is on the market to raise US$202.9 million in equity by IPO

+ Subversive Real Estate Acquisition REIT LP is on the market to raise US$200.0 million in equity by IPO

+ WeWork secured US$1.75 billion 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 …

+ Cando Rail Services started construction of Cando Sturgeon Terminal in Sturgeon County, Alberta. Phase 1 of the terminal will provide additional rail capacity to Alberta's Industrial Heartland and utilize a loop-track system to enable storage of up to 1900 railcars; completion expected in 2020

+ Competition-Winning Architecture of 2019

+ 12 buildings to anticipate in 2020

+ Acciona/Aecon consortium selected by B.C. government as preferred proponent for the $1.4 billion Pattulo Bridge Replacement Project

+ BMO Financial Group published its 2019 Sustainability Report

+ Canadian Pacific published its 2018 corporate sustainability report: Sustainably Driven

+ Cadillac Fairview agreed to sell a 50% interest in Quebec’s Carrefour Laval mall to TD Asset Management Inc. et al; deal also provides for a similar deal on west-Toronto’s Sherway Gardens mall

+ Invesque Inc. closed its US$55.0 million acquisition of 196 unit/234 bed sr. living property portfolio from Commonwealth Senior Living

+ Morguard Corporation entered into an agreement to acquire the shares of Temple Hotels Inc. it does not already own

+ Trudel Alliance acquired 7 centers/28 buildings Quebec City assets from First Capital Realty for $165.0 million

+ Cineplex is shopping itself to find a better deal than its $2.2 billion takeover bid from Cineworld Group Inc.

+ Ribtor Warehouse, one of Calgary’s oldest retailers, closing its doors/winding up business

+ WeWork in talks to sell its ‘Managed by Q’ business unit for US$55.0 million; they acquired that unit last year for US$220.0 million

+ Not how long, but how well you have lived is the main thing. - Seneca

+ Be happy for this moment. This moment is your life. – Omar Khayyam

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