FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Amber Osadan-Ullman to Sr. Dev. Mgr. @ Calgary Municipal Land Corporation

+ Brett Friesen to VP, Development and Multi-Family @ Hopewell Residential

+ Bryan Cox to Pres. & CEO @ BC LNG Alliance

+ Charles Weaselhead to Chancellor @ University of Lethbridge

+ Dale McFee to Chief @ Edmonton Police Service

+ David Searl to COO @ Value Chain Solution Inc.

+ Dr. Deena Hinshaw to Chief Medical Officer of Health @ Government of Alberta

+ Elizabeth Osler to Director @ Law Society of Alberta

+ Ellie Choi to VP & General Counsel, Toronto @ Chandos Construction Ltd.

+ Gary Gardner to Sr. VP National Sales, Canada @ Sedgwick

+ Gay Mitchel to Director @ Canadian Western Bank

+ Geoffrey Boddy to Partner @ Jensen Shawa Solomon Duguid Hawkes LLP

+ Greg Stack to Area Mgr., Toronto @ Chandos Construction Ltd.

+ Ian Reid to Chairman @ Alberta Construction Association

+ Jacquie Henderson to Strategic Account Mgr. @ Praxair S.R.L.

+ Kris Schoch to Traffic & Logistic Specialist @ Weir Minerals

+ Lyonel Kawa, CIO @ BURNCO Ltd., left the company

+ Parnell Lea to Director, Security & Life Safety @ Brookfield Properties

+ Ryan Brain to Pres. & CEO @ WSP

+ Stephen Dulmage, Directore @ Victory Capital Corp., resigned

+ Susan Bishop to Commerial Account Mgr. @ Palmer Salmon Insurance

+ Todd Craigen to Pres., Eastern Buildings and Civil Infrastructure @ PCL Construction

~

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




 MEMORIAM

+ Ron Joyce co-founder of Tim Hortons empire; 88




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ CIBC research – Retiring Right – says 27% of retired Canadians regret retiring; 23% have tried re-entering, 59% for the intellectual stimulations, 50% for the money

+ half of Canadians check work e-mail while on vacation; 72% for Millenials – Allianz report

+ top 10 emerging jobs in Canada




  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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this  site is refreshed with a new issue every Tuesday


updated February 5, 2019




 TODAY'S HEADLINES


HEADLINES: AltaGas sale | Husky restarts offshore | Irving closes Top Oil buy | Pembina/Kuwait JV $4.5 billion polypropylene plant | Trinidad acquired by Ensign + 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:

Last week's 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 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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ HBC closed the sale of 50% stake in 18 German properties to SIGNA Prime Selection unit for $375.0 million




 KUDOS 

+ to BOWEN Group, celebrating 45th anniversary in business

+ to Harry Rosen Inc. – celebrating 65th anniversary of it’s founding …




 QUOTES 

+ Kindness begins with the understanding that we all struggle. – Charles Glassman

+ Wherever you go, no matter the weather, always bring your own sunshine. – Anthony D’Angelo




 SHAREHOLDER MEETINGS

+ Feb. 5; AGT Food and Ingredients Inc., Special Shareholders Meeting, Toronto

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

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

+ 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 ]




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com



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NEWS SUMMARY 
 January 29 ~ February 5 


+ AltaGas Ltd. closed the sale of its remaining interest in Northwest British Columbia Hydro Electric facilities for $1.39 billion to a JV – Axium Infrastructure Canada II LP and Manulife Financial Corporation

+ Avison Young closed its acquisition of  U.K. based GVA; combined operation will operate as Avison Young

+ Collins Barrow changed its name to Baker Tilly

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; heavy crude differential narrowing; crude prices strengthening due to Venezuelan unrest and Saudi cutbacks

+ Husky Energy resumed production off Newfoundland …

+ Irving Oil closed its acquisition of 200 yr. old Irish firm Top Oil; terms not disclosed

+ Notley government eased oil production threshold by 75,000 bpd

+ Pembina Pipeline Corporation and Petrochemical Industries Company K.S.C. announced a go-ahead on their JV to be built near Fort Saskatchewan; propane dehydration plant, polypropylene plant, upgrading facility via Canada Kuwait Petrochemical Corporation that will process 23,000 bpd of propane into polypropylene; the $4.5 billion facility will get $300.0 million royalty credit from GOA – construction starting in 2019, to be operational mid-2023

+ Pembina Pipeline Corporation announced its will invest $500.0 million in capital to construct Phase VIII its Peace Pipeline System

+ Pond Technologies Holdings Inc. closed its acquisition of Regenerex Health Corporation

+ rig counts - Canada: up 11 to 243 this week; click for full breakdown

+ rig counts – U.S.: down 14 of 1,045 this week; full breakdown

+ Trinidad Drilling Ltd. got shareholder approval for its amalgamation with Ensign Energy Services Inc.; will operated as a wholly owned subsidiary of Ensign

+ were you in the Class of ’69 @ Western Canada High?; Doug Follett is organizing a ‘50th Reunion’; connect with Doug




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AF1 Capital Corp. closed $300,000.0 IPO equity financing

+ Brookfield Asset Management closed $15.0 billion equity raise for its Global Real Estate Fund

+ Canada Pension Plan Investment Board closed €1.0 billion green bond financing

+ Canada Western Bank closed $125.0 million preferred share financing

+ CGX Energy Inc. is on the market to raise $29.03 million by a rights offering

+ Dream Industrial REIT is on the market to raise $125.0 million in equity

+ Dream Industrial REIT secured $150.0 million credit facility

+ Marksmen Energy Inc. closed $1.25 million warrants financing

+ Top Strike Resources Corp. secured $3.25 million 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 

+ Chandos Construction growing – expanding to Toronto, senior execs moving from Edmonton to Toronto

+ 10 best mountain cabins

+ cool, Canadian … and in Beijing!




 INFRASTRUCTURE / P3  


+ Boralex Inc. commissioned its 23MW Sources de l’Ancre winde farm in France

+ Fiera Infrastructure Inc. established a long-term partnership with EllisDon Capital to pursue P3 projects

+ GOA announced an acquisition of land in Springbank (465 acres); they now have 20% of the required acreage to create the flood diversion project they new we needed after the 2013 flood

+ Green Line funding agreement for first phase signed by GOA and City of Calgary - $3.0 billion over eight years from provincial and federal governments – 28 stations, 46 km.

+ Vancouver City Council approved $3.8 billion; UBC extension along Broadway corridor should be complete by 2025




 INTERESTING THINGS IN INDUSTRIAL REAL ESTATE 


+ Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec and Oxford Properties, real estate arm of OMERS signed a 50-50 JV to invest in U.S. logistics company IDI Logistics and all its assets from Brookfield-sponsored real estate fund; terms not disclosed




 this week in REITS 


+ BTB REIT agreed to sell a property in Delson, QB for $22.5 million

+ Chorus Aviation Inc. closed $97.26 million equity financing

+ Crestpoint REIT and Anthem Properties Group Ltd. partnered to acquire Tillicum Centre in Victoria for $110.0 million

+ Dream Industrial REIT acquired a 21-building/3.5 million sq. ft. (in 5 U.S. markets) for $235.0 million

+ Dream Industrial REIT is on the market to raise $125.0 million in equity

+ Dream Industrial REIT secured $150.0 million credit facility




 SAVE THE DATE / upcoming events

+ 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

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


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

Unless otherwise noted, everything on this website is Copyright  Protected - © 1999 - 2025 - Mark Kolke, Publisher / MaxComm  Communications/Waterglass Press, units of PLANDflex Corporation, all rights reserved.


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this site last updated May 6, 2025