FACILITYCalgary

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

FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Ben Cowan-Dewar to Chair @ Destination Canada

+ Bob McPhee, CEO @ Calgary Opera, retired

+ Brenda Rideout to Pres. & CEO Tangerine

+ Darby Allan, Fire Chief @ Regional Municipality of Wood Buffalo, retired

+ David Mills to Mgr. Facilities Engineering @ Blackbird Energy Inc.

+ David Szybunka to Lead Portfolio Mgr. @ Rayne Capital Management Inc.

+ Ehren Cory to Pres. & CEO @ Infrastructure Ontario

+ Ian Ross to Chair @ Partners REIT

+ Jennifer Tory to CAO @ Royal Bank of Canada

+ Jim Westlake to Director @ Keek Inc.

+ Katharine Stevenson to Director @ Capital Power Corporation

+ Keith Trent to Director @ Capital Power Corporation

+ Kursat Kacira to Pres., CEO & Director @ Firm Capital American Realty Partners Corp.

+ Lauralee Martin to Director @ QuadReal Property Group

+ Lorne Braithwaite to Director @ QuadReal Property Group

+ Madeleine Schmidts to Associate Principal @ S2 Architecture

+ Mike Robinson Pres. & CEO, PBL Insurance Limited to Chairman @ Canadian Broker Network

+ Mitchell Molloy to Managing Partner @ Rayne Capital Management Inc.

+ Neil McLaughlin to Group Head, Personal & Commercial Bank @ Royal Bank of Canada

+ Paul Cantor to Chairman @ QuadReal Property Group

+ Paul Goodman to Mgr. Completions & Production @ Blackbird Energy Inc.

+ Randy Lennox to Pres. @ Bell Media Inc.

+ Stephen Bellringer to Director @ QuadReal Property Group

+ Steve Barnett to Director @ QuadReal Property Group

+ Thomas Garbutt to Director @ QuadReal Property Group

+ Vern Wadey, VP Bus. Dev. & VP Jordan Cover LNG @ Veresen Inc., retiring

+ Victor Guo to Exec. VP Governance, Special Situations @ Kingsdale Advisors


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




IN MEMORIUM
SHAKERS AND MOVERS who left us 

+ Art Davis Q.C., founder of law firm Milne Dave … died

+ Hans Maciej, retired oilman, sports advocate, founding member of Calgary Olympic Development Assocation and Alberta tennis icon … died




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ Canadian oil & gas firms reduced headcount by up to 50% according to Ernst & Young study; read their report

+ emotional intelligence at work? … check out the Robert Half survey and download their report

+ some thoughts on money, savings, pensions … and taxes, at tax time: The Taxman Cometh – an essay by Ryan Ackers




 SHAREHOLDER MEETINGS

+ Feb. 28; Bayshore Petroleum Corp., Annual General Meeting, Calgary

+ Mar. 8; Blackbird Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ Mar. 24; Panorama Petroleum Inc., Special Meeting of Shareholders, Vancouver

+ Apr. 12; Cargojet Inc., Annual General and Special Meeting of Shareholders, Toronto

+ Apr. 25; Canadian National Railway, Annual General Meeting of Shareholders, Regina

+ May 2; Agrium Inc., Annual Meeting of Shareholders, Calgary




  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

+ 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


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated Feb. 28, 2017




 TODAY'S HEADLINES


HEADLINES: AIMCo buying 2 blgds | Blackbird buying assets | Enbridge completed Spectra merger | TransCanada selling some assets | Veresen exiting power business + Julie Hamilton interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Julie Hamilton, Preventing Injuries / Saving Lives advocate, speaker

Last week's conversation with Fred Mertz, CPA, farm accounting/tax guru and Leader of Four Quarters Group

A recent conversation with Jarett Thompson, VP, New Leasing and Sales @ Melcor

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



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OFFICE MOVERS



CONTACT DAWSCO
 
COFFEE SERVICES



e-mail to Sharon Martens
 
INTERIOR DESIGN



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COMMERCIAL INTERIOR CONSTRUCTION



CONTACT PIVOTAL
 
PROJECT MANAGEMENT



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
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 CLIMATE CHANGE / LEED / RENEWABLE ENERGY  

+ Capital Power Corporation agreed to acquire 294MW (two gas-fired facilities) from Veresen Inc. for $500.0 million

+ Emissions Reduction Alberta issue its 2015/16 Annual Report

+ Innergex Renewable Energy Inc. closed its $49.0 million acquisition of 69.55% interest in Yonne wind farm (44MW) in northern France




 this week in REITS 


+ Agellan Commercial REIT closed $55.0 million equity financing

+ Crombie REIT is on the market to raise $75.0 million in senior unsecured debt

+ Ian Ross to Chair @ Partners REIT

+ InterRent REIT is on the market to raise $75.0 million in equity

+ Killam Apartment REIT is on the market to raise $70.0 million in equity

+ Pure Industrial REIT secured $150.0 million unsecured credit facility

+ Pure Industrial REIT agreed to acquire 996,482 sq. ft. (two buildings) Cedar Port Distribution Centre in Houston

+ Tricon Capital Group Inc. agreed to acquire Silver Bay Realty Trust Corp. for $1.4 billion




 INFRASTRUCTURE / P3  


+ Government of Canada and Bow Valley College – investing $788,000 million to start Strathmore Learning and Innovation Centre




 CONSTRUCTION NEWS + INNOVATION 


+ Soundwall launched a new product – an interactive flat-panel speaker made of aluminum artwork; can stream songs and up to 150 works of stock art or you can upload your own 




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NEWS SUMMARY 
 Feb. 21 ~ 28 


+ Blackbird Energy Inc. agreed to acquire a portfolio of Elmworth and Pipestone assets from Paramount Resources; terms not disclosed

+ current energy prices – live link to current Bloomberg energy prices; steady within recent range … OPEC seems to be adhering to its production cutbacks so markets are stable, if we can use that word …

+ Enbridge Inc. and Spectra Energy Corp. completed their merger

+ Frac Shack International acquired the Mobile Elevating Platform div. of Rigless Rentals Inc.; terms not disclosed

+ Norton Rose Fullbright in merger talks with Chadbourne & Parke; merged firms will have more than 4,000 lawyers

+ Restaurant Brands International Inc. agreed to acquire Popeyes Louisiana Kitchen Inc. for $1.8 billion

+ Saudi Aramco’s IPO plan moving along; JP Morgan, HSBC and Morgan Stanley will lead the process

+ Strad Energy Services Ltd. closed its acquisition of two Fort St. John are companies and their assets; $2.75 million

+ TransCanada Corporation is offering to sell 49.3% interest in Iriquois Gas Transmission System and 11.8% of Portland Natural Gas System to TC Pipelines LP

+ Tricon Capital Group Inc. agreed to acquire Silver Bay Realty Trust Corp. for $1.4 billion

+ Valeura Energy Inc. closed its acquisition of its JV partner Trace Basin Natural Gas Corporation’s interest for US$20.9 million

+ Veresen Inc. agreed to sell off its power business in multiple transactions for an aggregate $1.18 billion




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Agellan Commercial REIT closed $55.0 million equity financing

+ AltaGas Ltd. closed $300.0 million preferred share financing

+ Aveda Transportation and Energy Services Inc. closed $22,460,175.0 equity financing

+ Blackbird Energy Inc. is on the market to raise $80.0 million by common share and flow-through common share issues

+ Boralex Inc. closed $33.4 million debt financing

+ Crew Energy Inc. is on the market to raise $300.0 million in sr. unsecured debt

+ Crombie REIT is on the market to raise $75.0 million in senior unsecured debt

+ InterRent REIT is on the market to raise $75.0 million in equity

+ Killam Apartment REIT is on the market to raise $70.0 million in equity

+ Manulife Financial Corporation closed US$750.0 million unsecured sub. debt financing

+ Metro Inc. closed $400.0 million sr. unsecured debt financing

+ North American Energy Partners Inc. is on the market to raise $40.0 million in convertible unsecured sub debt

+ Perisson Petroleum Corporation closed $4.0 million secured debt financing

+ Pure Industrial REIT secured $150.0 million unsecured credit facility

+ Raise Production Inc. closed $455,000.0 final tranche of a common share & warrants financing by private placement

+ Return Energy Inc. is on the market to raise $3.0 million in flow-through shares issue by private placement

+ Serinus Energy Inc. closed $25.2 million equity financing

+ Superior Plus Corp. closed $250.0 million in sr. unsecured debt financing

+ TAG Oil Ltd. is on the market to raise $15.0 million by a common share & warrants financing

+ Tricon Capital Group Inc. is on the market to raise $150.0 million in equity

+ Tricon Capital Group Inc. is on the market to raise $150.0 million in convertible debt

+ Valeura Energy Inc. closed $11.0 million equity financing by private placement




 QUOTES

+ Chaos often breeds life, when order breeds habit. – Henry Adams

+ There is no exercise better for the heart than reaching down and lifting people up. – John Andrew Holmer




 KUDOS

+ to Gary & Caitlyn Browning – reflecting on being U of C Faculty of Environmental Design Alumni; great YouTube video shot in the Browning man-cave …




 NEW TECH + TOOLS TO WATCH 

+ Nokia is coming to market with three new Android smartphones and a revamped version of its 3310 model which will now allow web browsing; the launch was part of Nokia’s announcements to re-enter mobile tablet markets – targeting 5% world market share by 2019 … tic toc




 SAVE THE DATE / upcoming events

+ Mar. 2-5; Calgary Home + Garden Show, BMO Centre, Stampede Park; info/tickets

+ Mar. 22-24/2017; Economic Developers Alberta Annual Conference 'Embracing Change; Creating Opportunity', Banff Centre, Banff; info/registration

+ Mar. 23; EPAC Awards, Calgary Petroleum Club, Calgary; info/tickets

+ Apr. 4-7/2017; Japan Gastech Conference & Exhibition, Tokyo; info/register/save the date

+ Apr. 5-7; National Privacy & Data Governance Congress, Carriage House Inn, Calgary; info/register

+ Apr. 10-11; North American Crude Oil Summit, Omni Houston Hotel, Houston, TX; info/register

+ Apr. 20; Saskatchewan Real Estate Forum, Queensbury Convention Centre, Regina; info/register

+ Apr. 26; Administrative Professionals Day - everywhere

+ June 5; World Environment Day - time to save the planet

+ June 13 - 15/2017; Global Petroleum Show, Stampede Park, Calgary; info/save the date

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal


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



INTERESTING REAL ESTATE NEWS, other places


+ AIMCo acquired two buildings in Edmonton; HSBC Place and Enbridge Place; prices not disclosed – but I’m curious why AIMCo is buying these old buildings … doesn’t seem consistent with their portfolio

+ CPPIB in partnership with TH Real Estate and Silverpeak Real Estate Partners agreed to acquire 49% of the Greenway office portfolio (11 building campus/5.0 million sq. ft.) in Houston from Parkway Inc. for US$512.1 million

+ in Edmonton, ICE District ‘officially opened’ its first office tower: Edmonton Tower is Triple-A, LEED GOLD tower – 27 floors; City of Edmonton it largest/lead tenant

+ Oxford Properties Group announced plans for a $60.0 million redevelopment plan for Upper Canada Mall in Newmarket, ON; completion for 2018




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this site last updated May 6, 2025