+ American Hotel Income Properties REIT LP closed its acquisition of 133 room rail crew hotel in Lincoln, Nebraska for US$3.9 million
+ Automotive Properties REIT closed its acquisition of a two dealership property (Porsche Centre & Land Rover Edmonton) for $23 million; 6.0% going in cap rate
+ Automotive Properties REIT agreed to acquire a dealership property (Toyota Woodland) in Montreal for $7.2 million; going in cap rate is 7.3%
+ BTB REIT closed $1.7 million overallotment of its recent equity financing
+ Killam Properties Inc. completed its conversion to a REIT; now known as Killam Apartment REIT
+ Pure Multi-Family REIT LP closed its disposition of Windsong Apartments in Dallas for US$22 million
+ Slate Office REIT closed disposition of 15 buildings (12 industrial, 3 retail) for $56.2 million
+ Slate Office REIT increasing its ownership interest in three office properties in St. Johns, Newfoundland, approx.. $28 million
+ Vornado Realty Trust sold its leasehold interest in 20 Broad Street in Manhattan for US$ 200 million
+ Auspice Capital Advisors launched a real-time crude index, the CCI
+ Avison Young acquired Toronto based appraisal firm Metrix Realty Group (Ontario) Inc.
+ Calgary downtown office vacancy rate starting 2016 is 17.6% [CBRE report], compared to 11.8% in 1st qtr. 2015 .. yikes; clearly a tenant’s market, but there aren’t many new tenants in this market right now; expect some flight to quality and sharp-deals for renewing or renegotiating tenants. To get a copy of my ‘Strategy Paper on negotiating office leases in 2016 – Calgary/office’, send an email to: mark.kolke@calgaryofficespace.com with Strategy Paper in the subject line
+ CBC Calgary is on the move; selling their facility on Memorial Drive; they will move to leased premises in the Cambrian project adjacent to Foothills Hospital complex
+ CIBC agreed to sell its stake in American Century Investments for US$1 billion
+ Collins Barrow Calgary opened an office in the Alistair Ross Technology Centre … cool idea, hang out where the start-ups are incubating …
+ Crew Energy Inc. announced its 2016 CapEx Budget is $74 million
+ current energy prices – live link to Bloomberg energy prices ; WTI prices down on inventory concerns, Brent intra-day trading up nervously (Iran-Saudi dispute influence) but ending down based on global financial market gloom …
+ Encana Corporation’s sale of DJ Basin assets to Crestone Peak Resources (The Broe Group and CPPIB) has been delayed without disclosure of why; will close in 2nd qtr … tic toc …
+ FACILITYCalgary news – Mark Kolke’s OP-ED page debuts today; click the VIEWPOINT page
+ financial markets slump to open the year; led by China equity markets heading down – triggering a trading halt yesterday – the led to stock exchanges around the world sliding in reaction … tic toc …
+ Killam Properties Inc. completed its conversion to a REIT; now known as Killam Apartment REIT
+ Millar Western Forest Products Ltd. closed its $30,690,000 sale of the Boyle Sawmill to Northland Forest Products Ltd.
+ OPEC published its World Oil Outlook 2015 – link to the 400 page PDF ; calling for massive investment before 2040 to avoid massive crude price spikes; predicts US$5/barrel/year lift toward US$80/barrel by 2020 …
+ Packers Plus Energy Services Inc. won a patent infringement judgement against Canuck Completions; $7.7 million in damages plus costs …
+ Saudi Arabia continues to pump crude at record levels, driving down world prices – however they must face domestic reality soon, one would think, as they close out 2015 with a US$98 billion budget deficit – which is a lot of schools, roads, hospitals etc.; one would think they would have seen this coming??
+ Serinus Energy Inc. is selling its natural gas interests in Ukraine to KUB-Gas Holdings Limited for $30 million
+ Shoreline Energy Corp. filed for bankruptcy; Grant Thornton appointed trustee
+ Suncor and Canadian Oil Sands have kept up the battle-of-press-releases, each arguing their view of Suncor’s hostile takeover bid is the right one; shareholders will know soon … tic toc …
+ Talisman Energy Inc. and related companies have changed their names; now Repsol Oil & Gas Canada Inc., Repsol Alberta Shale Partnership, Repsol Wild River Partnership, Repsol Groundbirch Partnership, Repsol Central Alberta Partnership, Repsol Canada Energy Partnership
+ TC Pipelines LP closed its acquisition of 49.9% of Portland Natural Gas Transmission System from TransCanada Corporation
+ Tidewater Midstream and Infrastructure Ltd. agreed to acquire three Edmonton area natural gas processing and liquids extraction facilities and the Brazeau River Complex, related pipelines and rail access at Fort Saskatchewan; terms not disclosed
+ Vermilion Energy Inc. announced first-gas production from its Corrib Project (JV with Shell & Statoil) in Ireland
+ WesternZagros Resources Ltd. commenced a review of financing alternatives
THIS WEEK IN FINANCINGS
- proposed & closed
+ Africa Energy Corp. closed US$5 million equity financing
+ BTB REIT closed $1.7 million overallotment of its recent equity financing
+ Calfrac Well Services Ltd. closed $27.5 million equity financing
+ Caza Oil & Gas Inc. closed US$45.5 million equity financing
+ CO2 Solutions Inc. closed $2,093,000 debt & warrants financing
+ Brookfield Property Partners and Korea Investment Corporation closed their $2 billion acquisition of Postdamer Platz, a 2.9 million sq. ft. / 17 building projected in Berlin
+ Centennial Real Estate Co. and partners acquired five regional malls (Milford, Conn; Santa Ana, CA, Vernon Mills, Ill.; Aurora, Ill.; Vancouver, WA) from Westfield Corporation for US$1.1 billion
+ Sienna Senior Living Inc. closed its acquisition of Traditions of Durham, 140 unit retirement residence in Oshawa, ON for $37 million
OIL SANDS NEWS
+ Suncor and Canadian Oil Sands have kept up the battle-of-press-releases, each arguing their view of Suncor’s hostile takeover bid is the right one; shareholders will know soon … tic toc …
INFRASTRUCTURE / P3
+ Boralex Inc. closed its acquisition of a portfolio; 350MW of wind power projects in northern France
+ major solar farm set to start at Windsor Airport, to be complete by end of 2016. Samsung a deal for a 50-megawatt Windsor Solar project, which will involve 100,000-plus solar panels installed on the 300-acre site
