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FACILITYCalgary June21/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Artie Kos, Director @ Zedcor Energy Inc., resigned

+ Bill Graves to Chief Technology and Data Officer @ CIBC Mellon

+ Coby Bullard to Lead, Sales & Marketing @ Canadian Pacific Railway Ltd.

+ Dan Scroggins to Interim CEO @ BluMetric Environmental Inc.

+ Daniel Farb to Director @ MEG Energy Corp.

+ David Cornhill to Director @ Imperial Oil Limited

+ David Cutler, Pres. & CEO @ Centric Health Corporation, retiring

+ Eileen Pedante Stone to Lead, Grain and Fertilizer @ Canadian Pacific Railway Ltd.

+ Gary Williams to Interim Pres. & CEO @ Gemini Corporation

+ Graeme Hepworth to Deputy Chief Risk Officer @ Royal Bank of Canada

+ In Ha Jang to Managing Director, Investments @ Ontario Teachers’ Pension Plan

+ John Brooks to Sr. VP & Chief Marketing Officer @ Canadian Pacific Railway Ltd.

+ Jonathan Wahba to Lead, Sales & Marketing for Intermodal and Automotive @ Canadian Pacific Railway Ltd.

+ Justice Sheilah Marin, to Justice @ Supreme Court of Canada

+ Mark Hughes, Group Chief Risk Officer @ Royal Bank of Canada, retiring

+ Peter Sametz, Pres. & CEO @ Gemini Corporation, resigned

+ Roger Harripersad, VP Human Resources @ Gemini Corporation, resigned

+ Sharon Chilcott to Managing Dir. and Associate General Counsel, Employment Law @ Ontario Teachers’ Pension Plan

+ Tara Rosenblatt to Associate General Counsel, Investments @ Ontario Teachers’ Pension Plan

+ Terry Martin, COO @ Gemini Corporation leaving in early 2018

+ Tim Moseley to Vice-Chair @ Ontario Securities Commission


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




 MEMORIAM

+ Willard Olauson, retired co-founder of Opus and RoyOp corporations, died



 HUMAN RESOURCE + WORKPLACE TRENDS 

+ how to work happy; are you happy? … take the quiz

+ making happier workplaces? .. check this out: https://happinessworks.com/

+ why best leaders take care of their health




 QUOTES

+ Only by giving are you able to receive more than you already have. – Jim Rohn

+ Sometimes it’s not the journey or the destination, but the people you meet along the way. – Nishan Panwar




 KUDOS 

+ to CANA Construction, celebrating 75 yrs. in business




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ 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

+ 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

+ 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

+ 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 5, 2017




 TODAY'S HEADLINES


HEADLINES: Calgary tax hike | crude prices steady | Enbridge asset sale | Gemini downsize | GOA credit downgrade | Keyera expanding Simonette | Pembina Kitimat plans + Tamer Basilious interview + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Tamer Basilious, Director, Operations/Project Management, Calgary @ WSP

A recent conversation with Kirstin Evenden, Exec. Dir. @ Lougheed House

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



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



 sponsors of this week's issue:

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



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



e-mail Norm Landry
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 SAVE THE DATE / upcoming events

+ Mar. 21-23/2018; Economic Developers of Alberta; Annual Conference, Banff Centre, Banff

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide


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



 SHAREHOLDER MEETINGS

+ Dec. 7; H&R REIT, Meeting of Unitholders/Consider Re-organization, Toronto

+ Dec. 7; H&R F17 Trust, Meeting of Unitholders/Consider Re-organization, Toronto

+ Dec. 14; Alterra Power Corp., Special Meeting of Shareholders, Vancouver

+ Dec. 15; Pond Technologies, Special Meeting of Shareholders, Calgary

+ Dec. 18; Ironhorse Oil & Gas Inc., Annual and Special Meeting of Shareholders, Calgary

+ Jan. 4; Mainstreet Health Investments Inc., Special Shareholder Meeting, Toronto


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Suncor Energy started regulatory process to upgrade its base plant co-generation facility; will add 700 megawatts of capacity – expansion to be online in 2022




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NEWS SUMMARY 
 November 28 ~ December 5 


+ Calgary city council approved a 3.8% tax hike for its 2018 budget; businesses will get $45.0 million in subsidies from reserve funds

+ current energy prices – live link to current Bloomberg energy prices; U.S. shale drilling is up, having downward pressure on prices; meanwhile, OPEC members agreed to hold production cutbacks in line until end of 2018 .. tic toc

+ Enbridge Inc. announced it will sell off $3.0 billion in assets in 2018

+ Gaz Métro changed its name to Énergir

+ Gemini Corporation restructures; eliminating 22 staff and 15 contract positions

+ Gobal Petroleum Survey 2017 (97 jurisdictions ranked) – Fraser Institute report points to Texas as #1 global destination for oil industry capital; Alberta is ranked #33

+ Government of Alberta fiscal update projects $10.3 billion deficit for 2017-18; DBRS Ltd. downgraded Alberta’s rating from AA(high) to AA

+ Husky Energy announced its 2018CapEx Budget is $2.9 billion

+ Jean Coutu Group Inc. shareholders approved merger with Metro; deal still need Competition Bureau clearance

+ K-Bro Linen Inc. closed its £35.0 million acquisition of Fishers Topco Ltd. (Scotland and NE England)

+ Keyera Corp. announced it will expand its Simonette gas plant; capital cost will be $85-100 million

+ MEG Energy Corp. announced its 2018CapEx Budget is $510.0 million

+ Minister of Natural Resources Jim Carr issued a letter to NEB (finally!) giving instructions from the federal government regarding enforcement of the government’s approval of Kinder Morgan’s Trans Mountain Pipeline expansion project; and it seems the obstructive actions of the City of Burnaby remain unchanged … tic toc

+ Pembina Pipeline Corporation announced its 2018CapEx Budget is $1.3 billion

+ Pembina Pipeline Corporation announced it will go forward with construction of $260.0 million export terminal in Kimitat, BC

+ rig counts: up 7 to 222 this week; complete breakdown

+ Suncor Energy Inc. announced it produced ‘first oil’ from its Hebron offshore project

+ Tesco Corporation shareholders approved its takeover of Nabors Industries Ltd.

+ The Bank of Nova Scotia made a $2.9 billion takeover bid to acquire Chilean bank Banco Bilboa Vizacay

+ U.S. rig counts: up 2 to 749




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Discovery 2017 Flow-Through LP closed $12.4 million IPO

+ Enbridge Inc. is on the market to raise $400.0 million by a redeemable preferred share issue

+ Enbridge Inc. is on the market to raise $1.5 billion in equity by private placement

+ Enbridge Income Fund Holdings Inc. is on the market to raise $500.0 million in equity

+ GFL Environmental Inc. is on the market to raise $1.0 billion by IPO

+ K-Bro Corporation is on the market to raise $30,029,400.0 in equity

+ Keyera Corp. is on the market to raised $429.4 million in equity

+ Metro Inc. is on the market to raise $1.2 billion in sr. unsecured debt

+ Pembina Pipeline Corporation is on the market to raise $300.0 million in preferred share equity

+ Pure Multi-Family REIT LP secured US$50.0 million credit facility

+ Renaissance Oil Corp. closed $1.0 million equity financing by private placement

+ Return Energy Inc. closed $899,000.0 flow-through share financing by private placement

+ Saturn Oil & Gas Inc. is on the market to raise $500,000.0 in equity by private placement

+ TMX Group is on the market to raise $300.0 million in sr. unsecured debt

+ Whitecap Resources Inc. closed $425.0 million equity financing




 this week in REITS 


+ Automotive Properties REIT closed its $23.2 million acquisition of three Edmonton properties fro

+ CT REIT agreed to acquire seven (Collingwood, Hamilton, Orillia, St. Catherines, Sudbury, Yorkton and Oliver) properties (all Canadian Tire anchored) from RioCan REIT for $200.0 million

+ Melcor REIT agreed to acquire a portfolio of five properties (172,629 sq. ft.) from Melcor Developments Ltd. for $80.875 million

+ Pure Multi-Family REIT LP closed its US$55.95 million acquisition of a Phoenix property (230 units)

+ Pure Multi-Family REIT LP secured US$50.0 million credit facility

+ Skyline Commercial REIT agreed to acquire 11 western Canada dealership properties from Cervus Equipment Corporation; sale/leaseback transaction value is $55.7 million

+ True North Commercial REIT closed its $53.0 million Halifax acquisition; 297,850 sq. ft. Bluefrog Business Campus




 INFRASTRUCTURE / P3  


+ Calgary City Hall structural repairs are continuing – tab will now be $16.8 million to correct original structural flaw; re-org of space post-repair will accommodate more people …




INTERESTING REAL ESTATE NEWS, other places


+ iA Financial Group is acquiring a 3-building downtown Victoria office portfolio from HOOP

+ Mainstreet Health Investments Inc. closed its US$68.0 million acquisition of three transitional care properties




 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ Bentall is developing its first Montreal ‘spec building’ in recent memory; 216,000 sq. ft. facility new Pierre Trudeau Airport will open summer/2018




 INTERESTING TRENDS IN RETAILING 


+ Cara Operations Limited closed its acquisition of 100% of Pickle Barrel Group of Restaurants; 12 corporate stores and a catering operation

+ MTY Food Group Inc. closes its US$24.6 million acquisition of The Counter and Built Custom Burgers; 41 franchised and 3 corporate restaurants




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ Manulife opened its new headquarters of Quebec operations in Montreal; 900 de Maisonneuve West is 27-storey, AAA, LEED Gold building with a Platinum ‘Wirescored’ rating. Co-owned by Manulife and Ivanhoe Cambridge, designed by Menkès Shooner Dagenais LeTourneux Architectes, built by Pomerleau


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