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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Amanda Petherick to Partner @ MNP

+ Andrew MacLeod to CEO @ Postmedia Network Canada Corp.

+ Brad Baker to Partner & Managing Director @ Boston Consulting Group

+ Bruce Leslie to VP Corporate Communications @ Westleaf Cannabis Inc.

+ Gary Garnder, COO @ Canbrian Energy Inc., retired

+ Gord Alexander to Architectural Technologist @ Inertia Corporation

+ Graham Janego to COO @ Canbriam Energy Inc.

+ Howard Eng, Pres. & CEO @ Greater Toronto Airports Authority, announced retiring

+ Jeff Fielding, City Manager @ City of Calgary, resigned

+ Jeff Reid to Director for Canada @ Burns & McDonnell Energy Group

+ Jeremy Thal to Pres. & CEO @ Royop Development Corporation

+ John Nashmi to CFO @ Distinct Infrastructure Group Inc.

+ John Nieto Chief Technology Officer @ Canbriam Energy Inc., retired

+ Joy Bowen-Eyre to CEO @ The Alex Community Health Centre

+ Larry Cole to CFO @ Canbriam Energy Inc.

+ Leanne Bjalek to Partner @ MNP

+ Mary Moran resumed her role as CEO @ Calgary Economic Development

+ Martina Sarro to Director, Client Services @ William Joseph Communications

+ Melinda Park to Chair, Board of Governors @ SAIT

+ Michael Ward to Pres./Canada Retail Mgr. @ IKEA Canada

+ Paul Godfrey, CEO @ Postmedia Network Canada Corp., stepping down

+ Peter Snucins, Director @ Crown Capital Partners Inc., resigned

+ Rachel West to Partner @ Carbert Waite LLP

+ Robert Sankey to CEO @ Burgundy Asset Management Ltd.

+ Steve O’Connell to CEO @ Grosvenor Americas

+ Tara Ursulescu to Mgr., EmPower Women in Trades Program @ Manpower

+ Thomas Foucault to Partner & Managing Director @ Boston Consulting Group

+ Vince Aliberti to Sr. Strategic Account Exec. @ DMA Global

~

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




 MEMORIAM

+ Hon. Russel Dixon QC, retired Queen’s Bench Judge and distinguished lawyer with Howard, Dixon, Mackie and Forsyth; 94




 QUOTES 

+ Do you know the difference between education and experience? Education is when you read the fine print; experience is what you get when you don’t. – Pete Seger

+ No one has ever become poor by giving. – Anne Frank




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ strategies for engagement

+ young professionals leaving Vancouver over high housing costs




  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

+ 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

+ 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 January 15, 2019




 TODAY'S HEADLINES


HEADLINES: Aimia sale to Air Canada | Husky selling assets | Jones Brown acquired | KKR & SemGroup JV | world’s biggest YMCA opens + 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:

A recent conversation with Darby Young, Chief Accessibility Strategist/CEO @ Level Playing Field

A recent conversation with George Mylonas, Pres. & CEO @ Landstar Communities

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



 sponsors of this week's issue:

e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



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



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



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



 this week in REITS 


+ Alignvest Student Housing REIT agreed to acquire ‘The Annex’, 503-bed facility a the University of Ottawa; terms not disclosed

+ BTB REIT closed its $25.3 million acquisition of two properties in Laval, QB

+ CAP REIT is on the market to raise $37,537,500.0 over-allotment of its recent equity raise

+ Elad Genesis LP got court approval for its pending $680.0 million takeover of Agellan Commercial REIT

+ Firm Capital Property Trust acquired a 50% interest in a seven property portfolio of food and drug anchored retail properties (Alberta, Sask., Ontario, Quebec and Nova Scotia) from Crombie REIT for $41.6 million

+ Sandpiper Group, an activist investor, announced it has plans to shake up more Canadian REITs




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ DEEP Earth Energy Production Corporation got $25.6 million funding commitment for its project near Estevan, SK; total project capital cost is $51.3 billion; the portfolio will be managed by Crombie REIT




 KUDOS 

+ to Catherine Ford, coming out of retirement to making a ruckus again on the op-ed pages of the Calgary Herald …welcome back




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NEWS SUMMARY 
 January 8 ~ 15 


+ Aimia Inc. closed its $497.0 million sale of Aimia Canada/Aeroplan to Air Canada Inc.

+ Bank of Canada kept its benchmark rate at 1.75%

+ Bonterra Energy Corp. announced its 2019 CapEx Budget is $57.0 million

+ BP Energy Partners LLC acquired a controlling interest in Cryopeak LNG Solutions Corp.

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude prices noodling along/up a little on uncertainty about softening Chinese demand and speculation on OPEC led supply cuts unsettling traders

+ Gear Energy Ltd. announced its 1st half- 2019CapEx Budget is $10.0 million

+ Husky Energy announced it is doing a strategic review – will potentially sell its Canadian retail and commercial fuels business and its Prince George, BC refinery

+ Jones Brown Inc. acquired by Arthur H. Gallagher & Co.

+ KKR & Co. and SemGroup Corp. formed a JV to grow their portfolio of pipeline assets; JV is called SemCAMS Midstream ULC

+ London Drugs acquired McBain Camera; terms not disclosed

+ nominations are open: 5th annual Global Petroleum Show Awards; nominations close March 15th

+ rig counts - Canada: up 108 to 184 this week; click for full breakdown

+ rig counts – U.S.: held steady at 1,075 this week; full breakdown

+ Royal Dutch Shell Plc reported to be considering sale of some Canadian assets to focus on it’s LNG project

+ SemCAMS Midstream ULC is acquiring Meritage Midstream for $600.0 million

+ Seven Generations Energy announced its 2019 CapEx Budget it $1.25 billion

+ Surge Energy Inc. announced its 2019 CapEx Budget is $135.0 million

+ TransCanada Corporation announced its intention to do a name change to TC Energy

+ Trudeau government cabinet shuffle on the heels of Scott Brison’s resignation: here’s the full cabinet link

+ world’s largest (300,000 sq. ft.) YMCA opened in Seton; the Brookfield Residential YMCA at Seton includes a 250 seat theatre, child care and medical facilities – capital cost $193.0 million, $3.5 million contributed by Brookfield Residential




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Bank of Nova Scotia is on the market to raise $1.75 billion by a sub. debt issue

+ CAP REIT is on the market to raise $37,537,500.0 over-allotment of its recent equity raise

+ CIBC is on the market to raise $325.0 million by a preferred shares issue

+ Jaguar Resources Inc. secured US$132.0 million stand-by credit facility

+ Middlefield Group/2019 Resource Limited Partnership is on the market to raise $50.0 million by IPO

~

*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 

+ Ontario taking control of subway construction away from City of Toronto; introducing legislation

+ 2019 Grands Prix Du Design award winners




 INFRASTRUCTURE / P3  


+ Calgary’s Rivers District plan was revealed; it’s back to the drawing board because it didn’t reflect ‘a new arena’ element – tic toc …

+ Pattern Energy Group Inc. closed $216.0 million sale or its interest in the K2 Wind power facility to Axium Infrastructure




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ in New York, the 90 yr. old iconic Chrysler Building is for sale – owners engaged CBRE to manage the sale

+ repurposing an obsolete former shopping mall – Google signed a 584,000 sq. ft. / 14-yr. lease




 INTERESTING THINGS IN RETAIL 


+ Calgary’s retail vacancy rate reported to be down from 5.1% in 2nd half of 2018 to 4.5ish – as market absorbs Sears closure space (so without Sears, things are trending really well)




 INTERESTING THINGS IN OFFICE REAL ESTATE 


+ some new ideas are circulating in the office design world – like tech-free zones for ‘digital detoxing’ – forces staff to spend part of their day without computer, tablet or smartphone access; whether that will be viewed as blessing or curse is yet to be determined; now, as an amenity for break-times, it’s fantastic quiet-zone idea … tic toc

+ space as a service seems to be the new buzzword for 2019; it describes the WeWork concept and all of its clones, and the remaking of Regus et al, trying to appear the same. WeWork was expecting a large capital infusion from Softbank, but that’s turning out to be much smaller than expected




 SHAREHOLDER MEETINGS

+ Jan. 31; Trinidad Drilling Ltd., Special Meeting of Shareholders, Calgary

~

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




 SAVE THE DATE / upcoming events

+ Jan. 22 – 25; World Economic Forum, Annual Meeting, Davos-Kloseters, Switzerland; info/register

+ Jan. 24; Robbie Burns Dinner (British Canadian Bus. Assoc.), Calgary Petroleum Club; info/tickets

+ Jan. 25-26; Your Book is Your Business, Alastair Ross Technology Centre, U of C Research Park, Calgary; info/register

+ Jan. 27-29; ICSC Whistler Conference, Fairmont Chateau Whistler, Whistler, BC; info/register

+ 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

+ 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

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

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


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

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