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FACILITYCalgary June28/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alfredo Tan to Chief Digital & Innovation Officer @ WestJet

+ Brett Friesen to VP Community Development @ Hopewell Residential Management LP

+ Camilla Sutton to Pres. & CEO @ Women in Capital Markets

+ Christine Battist to CFO @ Avison Young

+ Gabe Gonda to Managing Dir., Corp. Dev. @ The Globe and Mail

+ James Brown to Partner, Calgary @ Zeidler Partnership Architects

+ Jill MacKenzie to CFO @ Hopewell Residential Management LP

+ Joe Mazzaocco, Exec. Managing Dir. @ KingSett Capital, left the company

+ Linda Hopp to Director, Sales & Marketing @ ARIS Landscape Design

+ Manoj Pail to VP & Corporate Controller, Finance @ Hopewell Residential Management LP

+ Michael Cremen to Sr. VP Sales, Americas @ Veritas Technologies

+ Mike Pedersen to Chair @ Business Development Bank of Canada

+ Noah Goldstein to Managing Dir. @ KSV Advisory Inc.

+ Rob Kumer to Chief Investment Officer @ KingSett Capital

+ Scott Coates to Mortgage Team Lead @ KingSett Capital

+ Troy Wagner to VP Acquisitions & Dev. @ Point Loma Resources Ltd.


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




 MEMORIAM

+ Dr. Martin Barkin, Trustee @ NorthWest Healthcare Properties REIT, passed away




 QUOTES 

+ The most exquisite pleasure is giving pleasure to others. – Jean de La Bruyere

+ Music is a moral law. If gives soul to the universe, wings to the mind, flight to the imagination, and charm and gaiety to life and to everything. - Plato




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ study suggests cultural and technological change will drive organizational transformation



  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




 SUGGESTIONS / COMMENTS:
 
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updated January 23, 2018




 TODAY'S HEADLINES


HEADLINES: Amazon HQ ‘not Calgary’ | BofC rate bump| crude prices steady | CARA/KEG merger | MATTRIX acquires D2 | Keystone XL has sufficient shippers + Nic Blanchet interview  + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Nic Blanchet, Executive Director @ Friends of Fish Creek Provincial Park Society

A recent conversation with Marjorie Zingle, CEO @ DATAHIVE

A recent conversation with Jenn Lofgren, Founder/CEO @ INCITO

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



 sponsors of this week's issue:

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



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 to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



 SAVE THE DATE / upcoming events

+ Jan. 28-30; Whistler ICSC Conference, Fairmont Chateau Whistler, Whistler, BC; info/register

+ Feb. 5-6; 3rd Annual Alberta & Saskatchewan Renewable Energy Finance Summit, Westin Hotel, Calgary; info/register

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

+ Mar. 21; EPAC Awards Luncheon, Calgary Petroleum Club, info/tickets

+ April 11; Calgary Chamber of Voluntary Organizations, Connections Conference 2018; Ross Glen Hall, Mount Royal University, Calgary; info/register

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register

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

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register


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



 SHAREHOLDER MEETINGS

+ Jan. 24; Pure Technologies Ltd., Special Meeting/Approve Merger, Calgary

+ Jan. 26, Alberta Real Estate Association, Annual General Meeting, Grande Prairie

+ Jan. 30; Metro Inc., Annual Shareholders Meeting, Montreal

+ Feb. 19; Imvescor Restaurant Group Inc., Special Meeting of Shareholders, Montreal

+ Feb. 26; Soleil Capital Corp., Special Meeting of Shareholders, Calgary


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Elemental Energy completed its Brooks Solar Project; 17 MW of renewable energy will feed into the Alberta grid; project has 49,000 solar panels

+ NASA reported 2017 was the 2nd hottest year on record (2016 was the worst); check out the article and graph




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NEWS SUMMARY 
 January 16 ~ 23 


+ Bank of Canada raised its overnight interest rate by ¼ of 1% to 1.25%

+ Calgary is ‘out of the running’ for the Amazon 2nd World Headquarters; Amazon has narrowed the list to 20 from 238 submissions. Calgary is out due to lack of sufficient ‘appropriate talent’. Toronto is the only non-U.S. city still in the hunt …

+ Cara Operations Limited (1,259 restaurants) to merge with Keg Restaurants Ltd.(105 restaurants); Keg shareholders and financiers get $200.0 million; David Eisenstat remains CEO @ Keg and takes on mgmt. of some other Cara brands

+ Brookfield Asset Management Inc. and Onex Corp. reported on verge of a US$3.7 billion deal to acquired IWG Plc(owner of Regus business centres) … tic toc …

+ current energy prices – live link to current Bloomberg energy prices; WTI at $63.95!

+ Gen III Oil Corp. agreed to acquire the idle Bowden oil refinery; 20 yr. lease from Parkland Fuel Corp. and plans to invest $90.0 million to rebuild …

+ InPlay Oil Corp. announced its 2018CapEx Budget is $38.0 million

+ Journey Energy Inc. announced its 2018CapEx Budget is $40.0 million

+ MATRRIX Energy Technologies Inc. closed its acquisition of D2 Drilling Inc. in an all shares transaction; price not disclosed

+ Pengrowth Energy Corporation announced its 2108CapEx Budget is $65.0 million

+ Razor Energy Corp. completed its $4.9 million acquisition of Kaybob assets

+ Razor Energy Corp. announced its 2018CapEx Budget is $38.4 million

+ TransCanada Corporation announced it has secured sufficient commitment (500,000/bpd) for shipping to go ahead with the Keystone XL Pipeline; GOA committed to 50,000/bpd for 20 yrs.

+ U.S. rig counts – down five for the week to 747

+ Yangarra Resources Ltd. announced its 2018CapEx Budget is $90.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Axis Auto Financing Inc. closed $19.0 million equity financing

+ CIBC closed $450.0 million preferred share issue

+ Exito Energy II Inc. and Good Life Networks Inc. closed $9.2 million equity financing by private placement

+ Journey Energy Inc. is on the market to raise $22.0 million in debt & warrants issue

+ National Bank of Canada closed $300.0 million preferred share issue

+ Seaspan Corporation is on the market to raise US$250.0 million in unsecured debt




 KUDOS 

+ Lloyd’s roller rink closed – the Calgary institution had been in operation for 53 yrs.




 this week in REITS 


+ Dr, Martin Barkin, Trustee @ NorthWest Healthcare Properties REIT, passed away

+ Granite REIT agreed to sell a portfolio (St. Thomas, On., Bowling Green, KY, and 7 in GTA) of 10 properties (multiple buyers) for $400.0 million

+ Inovalis REIT completed its acquisition of an office building (134,500 sq. ft. in Frankfurt, Germany); 50/50 JV with an institutional investor

+ Wyndham to acquire La Quinta for US$2.0 billion; underlying Quinta owned properties will be spun off in to CorePoint Lodging Inc., a publicly traded REIT




 INFRASTRUCTURE / P3  


+ Alberta Transportation confirmed nearly half of Alberta’s highways maintained by Carllion Canada are subject  to a contingency plan; Carillion’s parent is insolvent … tic toc

+ Calgary’s Memorial Park Library, sandstone structure built in 1912, funded by Andrew Carnegie, declared a national historic site by Parks Canada




 CALGARY OLYMPICS 2026 BID WATCH 


+ International Olympic Committee officials came to town; offered encouragement for Calgary’s bid; City Council members said some ‘slightly more positive things’ but it all seems moot without something forward in negotiations between the Calgary Flames and the city for a new arena (a winter games will require 2-3 arenas); no commitment of funds yet from Notley or Trudeau governments … tic toc




 CONSTRUCTION NEWS + INNOVATION 

+ Aecon Group Inc. $1.5 billion takeover by China Communications Construction Co. Ltd. may not be a sure thing; competitors are complaining to Industry Canada seeking to block the deal … tic toc




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Broccolini acquired a downtown development site for $100.0 million (Victoria Square area); first development on the 135,000 sq. ft. site is a 35-storey residential tower

+ Sienna Senior Living Inc. agreed to acquire 10 retirement residence properties (1,245 doors) in Toronto, Ottawa and SW Ontario for $382.0 million; going in cap rate is 6.1

+ Wyndham to acquire La Quinta for US$2.0 billion; underlying Quinta owned properties will be spun off in to CorePoint Lodging Inc., a publicly traded REIT




 OFFICE TRENDS IN OFFICE REAL ESTATE 


+ 10 smart building ‘IoT’ trends for 2018




 INTERESTING  TRENDS IN RETAIL REAL ESTATE 


+ Amazon opened its Amazon Go grocery store prototype in Seattle; store tallies purchases by an App; no cashiers in the store … tic toc

+ Cara Operations Limited (1,259 restaurants) to merge with Keg Restaurants Ltd.(105 restaurants); Keg shareholders and financiers get $200.0 million; David Eisenstat remains CEO @ Keg and takes on mgmt. of some other Cara brands

+ Ivanhoe Cambridge is on the market to sell two malls, Toronto and Vancouver; Market Mall in Calgary was removed from the offering as a redevelopment project is underway


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