FACILITYCalgary

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

FACILITYCalgary May 27/25

ARCHIVED ISSUES

CONVERSATIONS

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Allison Leggatt to Interior Designer @ DIALOG

+ Bretan Baumgardt to Practice Leader, Western Canada @ NORR

+ Brian LeBlanc to CFO @ Accelware Ltd.

+ Chris Cameron to CIO @ American Hotel Income Properties REIT LP

+ Cindy Radu to Family Wealth Transition Advisor @ Unbiased Financial Services Inc.

+ Dorian Kominek to Territory Mgr. @ Miele Canada

+ Doug Arnell, Director @ Pembina Pipeline Corporation, stepped down

+ Edmund Murphy to Pres. & CEO @ Great-West Life & Annuity Insurance Company

+ Greg Sawchenko to VP Bus. Dev. @ Edge Liability Risk Management

+ Guy Mersereau, Sr. VP @ Vallen, retired

+ Janice MacPherson to Sr. Consultant @ Cenera Inc.

+ Jenn Lofgren to Director @ The GRAND

+ Jennifer Doiron to Partner @ Cenera Inc.

+ Joan Dunlop to Director @ Cenera Inc.

+ John Melton to Director @ Eagle Energy Inc.

+ Jonathan Mariner to Sr. Advisor to the CEO @ Imagination Parks Technologies Inc.

+ Katrina Edgerton-McGhan to Counsel @ DLA Piper

+ Laura McIntyre to VP Engineering @ Accelware Ltd.

+ Maggie Liu to Director @ The GRAND

+ Melanie Jeannotte to National Pres. @ Gallagher Benefit Services (Canada) Group Inc.

+ Michael McCreary to Tech Sales Rep @ Dryvit Systems

+ Niaz Tadayyon to Sr. Mgr. Advanced Analytics @ Accenture

+ Neil Lathangue to Chief Commercial Officer @ Integrated Contraction Solutions

+ Patrick Burgess to Counsel @ DLA Piper (Canada) LLP

+ Quinto Rafuse to Director @ The GRAND

+ Rajinder Singh to Director @ Genworth MI Canada Inc.

+ Robert Reynolds to Chair @ Great-West Lifeco U.S.

+ Sander Duncanson to Partner @ Osler, Hoskin & Harcourt LLP

+ Sheri Brake to Director @ Cenera Inc.

+ Steve Cutler to Sr. Consultant @ Cenera Inc.

+ Teresa Goldstein to Mgr. of Community Planning @ City of Calgary

+ Terry Jensen to Pres., Surface Rock Products @ Surface Rock Technologies Inc.

+ Tim Rahilly to Pres. @ Mount Royal University

+ Tina O’Connor to COO @ ENCOM Wireless Data Solutions

+ Tom McGuire to Exec. VP & Group Treasurer @ Scotiabank

+ Wes Schrader, Director @ Eagle Energy Inc., retired

~

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




 MEMORIAM

+ Catherine Rogers, former VP & CFO @ Western Financial Group; 60

+ Michael Wilson, former Finance Minister of Canada and mental health advocate; 81




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ are ‘open office plans’ overrated? Is it time to ditch them?

+ future-proof your business by developing leaders




  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

+ DILBIT – diluted bitumen

+ 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

+ ISO – International Organization for Standardization

+ 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


updated February 12, 2019




 TODAY'S HEADLINES


HEADLINES: AGT Food going private | Alt Hotel East Village opened | Redwater Energy ruling | Solium Capital about by Morgan Stanley for $1.1 billion + Naresh Nakhid interview  + deals + rig counts + upcoming events, appointments + REIT NEWS + financings




CONVERSATIONS

FACILITYCalgary Publisher Mark Kolke interviews interesting people. He seeks a glimpse of what drives them, how they see the world and what they see in Calgary's future:

This week's conversation with Naresh Nakhid, Partner - Private Enterprise @ MNP

A recent conversation with Clark Grue, Pres. & CEO @ CALGARY Telus Convention Centre

A recent conversation with Vincent Fung, Managing Dir. & CEO @ Debian Information Technology

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

 sponsors of this week's issue:

e-mail to Katherine Robinson, Managing Director

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



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



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 Lance Laliberte - Sales at PREMIERE OFFICE MOVERS
 
OFFICE MOVERS



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



CONTACT US
SALES COACHING



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ DP Energy is proposing a 63 acre solar farm project in Shepard Industrial Park – 1,500 panels, capital cost to be $40.0-50.0 million




 KUDOS 

+ to Hayley Wickenheiser, to be inducted into the International Ice Hockey Federation’s Hall of Fame




 QUOTES 

+ A mind is a like a parachute. It doesn’t work if it is not open. – Frank Zappa

+ True happiness is … to enjoy the present, without anxious dependence upon the future. – Luius Annaeus Seneca




 SHAREHOLDER MEETINGS

+ Feb 12; Bank of Nova Scotia, 187th Annual Meeting of Shareholders, Toronto

+ Apr. 4; CIBC, Annual Meeting of Shareholders, Montreal

+ Mar. 6; Servus Credit Union, Annual General Meeting, Edmonton

+ Mar. 21; Cargojet Inc., Annual General Meeting of Shareholders, Toronto

+ May 8; Maxar Technologies Inc., Annual Meeting of Stockholders, Westminster, Colorado

~

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




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http://facilitycalgary.com

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http://markmusing.com  




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NEWS SUMMARY 
 February 5 ~ 12 


+ AGT Food and Ingredients Inc. got shareholder approval for their plan of arrangement to take the company private; court approval secured

+ Alt Hotel Calgary East Village opened; 152 rooms

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude ticking up slightly in anticipation of OPEC production cuts

+ Global Petroleum Show Strategic and Technical Conference program is now available

+ Obsidian Energy reduced its 2019CapEx Budget to $45.0 million

+ Redwater Energy – Supreme Court of Canada ruling – do you understand it?; check out this interpretation by Simon Dyer et al

+ rig counts - Canada: down 3 to 240 this week; click for full breakdown

+ rig counts – U.S.: up 4 to 1,049 this week; full breakdown

+ Scotiabank agreed to sell its El Salvador operations to Imperia Intercontinental Inc.

+ Solium Capital Inc. agreed to be acquired by Morgan Stanley of $1.1 billion

+ Western Canada High – class of ’69; Doug Follett is organizing a ‘50th Reunion’; connect with Doug




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Cliffside Capital Ltd. is on the market to raise $3.0 million in equity by a rights offering

+ Crown Capital Partner Funding LP secured $25.0 million credit facility

+ Cycle Capital Fund IV, LP closed $109.0 million equity raise

+ Eguana Technologies Inc. closed $3.0 million equity financing by private placement

+ Hydro-Quebec closed $500.0 million debt financing

+ Ridgewood Canadian Investment Grade Bond Fund closed $14.0 million equity raise by private placement

+ 5N Plus Inc. closed US$25.0 million unsecured sub. debt financing

~

*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 

+ CapEx and OpEx savings – Global Digital Transformation Benefits Report 2019 published by Schneider Electric

+ impending shortage of people to fill construction jobs




 INFRASTRUCTURE / P3  


+ Canada Lands Company started an RFP process for Sale and redevelopment of Montreal’s Silo No.5 and Pointe du Moulin pier

+ NAIT acquired 13.27 hectares of Blatchford development site (former Edmonton City Centre Airport lands) and additional 4.8 hectares north of its campus for expansion; includes all the east side hangars …

+ Tsuut’ina Nation broke ground on a new $18.0 million high school

+ University of Calgary got $8.5 million from the City of Calgary’s Opportunity Calgary Investment Fund to support a new program – Life Sciences Innovation Hub – opens in July/2019

+ WinSport announced it will close sliding tracks (louge, skeleton and bobsled) at Canada Olympic Park due to an $8.0 million shortfall on a $25.0 million refurbishment project




 INTERESTING THINGS IN INDUSTRIAL REAL ESTATE 


+ Drone Delivery Canada launched their commercial operations from a 16,000 sq. ft. facility in Vaughan, ON

+ Ivanhoe Cambridge announced it will invest $500.0 million to overhaul Vaughan Mills and Montreal’s Eaton Centre

+ StorageVault agreed to pay $275.0 million for 38 self-storage facilities (several vendors) in BC, Alberta, Manitoba and Ontario




 INTERESTING THINGS IN RETAIL REAL ESTATE 


+ Apple likely to open Flagship Store in Vancouver at intersection of Georgia and Howe streets

+ Bunzl Canada introduced WandaNEXT system in Toronto grocery stores – great way for customers to call for service in washrooms; no word on whether staff will actually respond. It if works, maybe gas station chains might give it a try (we can only hope!)

+ Chris Cameron to CIO @ American Hotel Income Properties REIT LP

+ Sunrise Records and Entertainment Limited is buying 100 HMV stores out of bankruptcy; 27 stores will close immediately … stay tuned for the Sunrise concept …




 this week in REITS 


+ Firm Capital Property Trust closed $83.0 million retail 50/50 JV with Crombie REIT

+ Granite REIT agreed to acquire two properties (Dallas, TX) and acquired a third one (Louisville, KY) for US$173.3 million

+ Inovalis REIT closed sale of its Hanover, Germany property for $38.6 million

+ Summit Industrial Income REIT agreed to acquire 100% of 236,124 sq. ft. logistics facility in Montreal for $23.0 million

+ True North Commercial REIT acquired 11-storey/107,066 sq. ft. Narono building in Ottawa for $24.5 million




 SAVE THE DATE / upcoming events

+ Feb. 15; 4th Annual Bret Hart Men’s Health Day, The Prostate Cancer Centre, Rockyview General Hospital; free PSA tests for men 40-80 plus other checks; info/details

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

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

+ Feb 27-28; Well Site Facilities Canada Unconventional Shale Congress 2019, Calgary Marriott Downtown; info/register

+ Mar. 1; MardiGras Fundraising Gala for Lung Cancer Research; Hellenic Community Centre, Calgary; details/tickets

+ 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

+ Apr. 9-10; ISA Calgary Show, Stampede Park, Calgary; info/book exhibit space

+ April 23; Canadian Gas Dialogues, Calgary Petroleum Club, Calgary; info/register

+ May 27-29; Williston Basin Petroleum Conference, Delta by Marriot Regina, SK; info/register

+ June 10-12; NeoCon, The Mart, Chicago; info/register

+ June 11-12; Downstream 2019, George Brown Conv. Center, Houston; info/register

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

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

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


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



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this site last updated May 27, 2025