+ Aug. 17; 16th Annual Special Olympics Calgary Golf Classic, Country Hills GC .. details later
+ Aug. 20; 17th Annual CREB Charitable Foundation, Building Hope Charity Golf Tournament, Blue Devil Golf Club, Calgary
INTERESTING REAL ESTATE NEWS, other places
+ Edmonton’s Arena District’s official name was announced: Ice District
+ Infrastructure Ontario and Ministry of Transportation issued an RFQ to design, build, finance and maintain the Highway 427 expansion project.
+ Inovalis REIT completed a JV (with IGIS Fund) of a Paris, France office peroperty (330,681 sq. ft., 253 parking spaces) for C$125million; going in cap rate 7.2%
+ Ivanhoé Cambridge and Callahan Capital Properties closed its US$225 million acquisition of 100% interest in Channel Cente - 251,394 ft2 in Boston's Seaport District submarket and 100% interest in 410 17th Street - 434,740 ft2 office property in Denver's central business district, AND, agreed to acquired 100% interest in 180 North LaSalle Street - 768,859 ft2 office property located in Chicago's central business district and the remaining 51% interest in 330 Hudson Street - 467,830 ft2 office property located in New York's Hudson Square submarket – all being acquired from Beacon Capital Partners.
+ Pure Multi-Family REIT LP agreed to acquire the Amalfi Stonebriar project (395 luxury units) in Dallas, Texas for US$67.5 million
+ Sears Holdings Corp. in the U.S. spun off US$1.6 billion in properties (235 properties in a sale/leaseback transaction) to its own REIT, Seritage Growth Properties
+ Starlight U.S. Multi-Family (No. 4) Core Fund closed its US$42.7 million acquisition of 264-unit complex in Orlando, Florida
OIL SANDS NEWS
+ Laricina Energy Ltd. reached a settlement deal with shareholder and major creditor CPPIB Credit Investments involving $142 million debt; exiting CCAA protection to resume normal operations with enough cash to continue through to March 2018
+ Royal Dutch Shell plc executives disclosed they are considering restarting mothballed oilsands development projects – but not until oil returns to US$80/barrel
+ SilverWillow Energy Corporation has agreed to be acquired by Value Creation Inc.
+ Laricina Energy Ltd. reached a settlement deal with shareholder and major creditor CPPIB Credit Investments involving $142 million debt; exiting CCAA protection to resume normal operations with enough cash to continue through to March 2018
+ Royal Dutch Shell plc executives disclosed they are considering restarting mothballed oilsands development projects – but not until oil returns to US$80/barrel
+ SilverWillow Energy Corporation has agreed to be acquired by Value Creation Inc.
+ Bank of Canada interest announcement coming tomorrow, Wed. July 15th
+ Calgary Stampede 2015 – attendance estimated at 1.2 million, down from 1.26 million last year
+ Calgary Stampede visitors – national party leaders: Harper, Mulcair, Trudeau and May visited Calgary – hugged babies, flipped pancakes and all left town without most Calgarians noticing …
+ current energy prices – live link to Bloomberg energy prices ; oil dips on market expectations of Iran/nuclear deal, Greek bailout … and global oversupply issues raised by International Energy Agency
+ Government of Alberta gave the go-ahead on a new Calgary Cancer Centre. This is the project cancelled last year by Premier Prentice; the announcement by Premier Notley who said two possible sites on the Foothills Hospital campus are being considered
+ Gowling Lafleur Henderson LLP is merging with U.K. firm Wragge Lawrence Graham & Co.; will operate as Glowlings WLG
+ Greece woes continue, but improved slightly; 11th hour deal will provide more support from Euopean financing ministers & bankers grew tired/frustrated with Greece’s reluctance to accept more austerity measures; Greeks must adopt more austerity measures to get € 90 billion bailout. Meanwhile Prime Minister Tsipras faces revolt within his party … tic toc …
+ Hudson’s Bay Company and RioCan REIT closed their first tranche of putting real estate into their joint venture; RioCan-HBC JV acquired $1.6 billion in properties of which 7 owned or ground-leased HBC properties [2.6 million sq. ft.], and two RioCan malls
+ Ithaca Energy Inc. closed the sale of its Norwegian exploration business for US$60 million plus future rights
+ KPMG LLP agreed to acquire Towers Watson’s Human Resource Service business
+ Laricina Energy Ltd. reached a settlement deal with shareholder and major creditor CPPIB Credit Investments involving $142 million debt; exiting CCAA protection to resume normal operations with enough cash to continue through to March 2018
+ Marathon Petroleum agreed to acquire MarkWest Energy Partners for US$14.69 billion
+ Northern Spirit Resources Inc. announced a planned reorganization, financing and change of management team pending
+ Pacific Rubiales Energy Corp. takeover bid collapsed
+ Premier Notley held court with oil & gas industry exectives; reports vary but the consensus is that she said the right things to comfort the investment community but with a royalty review in the works many companies are taking a ‘wait and see’ approach …
+ Royal Dutch Shell plc executives disclosed they are considering restarting mothballed oilsands development projects – but not until oil returns to US$80/barrel
+ Sherson Group Inc., o/a Nine West entered CCAA bankruptcy protection; 48 stores involved – continuing operations, for now .. tic toc ..
+ Stantec acquired V1 Engineering
+ Suncor Energy and TransAlta Corporation agreed to exchange some wind power facilities in the Poplar Creek/Fort McMurray cogeneration facilities that will move to Suncor; TransAlta will acquire facilities in Thamesvill, ON and Drumheller, AB
THIS WEEK IN FINANCINGS
- proposed & closed
+ Ballard Power Systems closed US$150 million equity financing
+ Bonterra Energy Corp. closed $31 million equity financing
+ Canadian Overseas Petroleum Limited closed $7.2 million common share & warrants financing
+ Canamax Energy Ltd. closed $15.4 million equity financing
+ Crown Capital Partners Inc. closed $65,010,000 IPO
+ Horizon North Logistics Inc. closed $80.6 million equity financing
+ Kelt Exploration Ltd. is on the market to raise $90.0 million in equity financings
+ MCAN Mortgage Corporation closed $15 million rights offering
+ Medical Facilitities Corporation secured $100 million revolving credit facility
+ Northern Spirit Resources Inc. are on the market to raise $2 milion in equity
+ PrairieSky Royalty Ltd. closed $198 million equity financing
+ Toronto-Dominion Bank is on the market to rasise $150 million in a preferred share issue
+ Titanium Transportation Group closdd $11.5 million common share & warrants financing
this week in REITS
+ Gregory Howard to Trusteet @ Smart REIT
+ Inovalis REIT completed a JV (with IGIS Fund) of a Paris, France office peroperty (330,681 sq. ft., 253 parking spaces) for C$125million; going in cap rate 7.2%
+ Pure Multi-Family REIT LP agreed to acquire the Amalfi Stonebriar project (395 luxury units) in Dallas, Texas for US$67.5 million
INFRASTRUCTURE / P3 / GREEN
+ Caisse de dépôt et placement du Québec set up a new subsidiary, CDPQ Infra for a public transit system on the new Champlain Bridge and a public transit system linking downtown Montréal to the Montréal-Trudeau International Airport and the West Island
+ Government of Alberta gave the go-ahead on a new Calgary Cancer Centre. This is the project cancelled last year by Premier Prentice; the announcement by Premier Notley who said two possible sites on the Foothills Hospital campus are being considered
+ Suncor Energy and TransAlta Corporation agreed to exchange some wind power facilities in the Poplar Creek/Fort McMurray cogeneration facilities that will move to Suncor; TransAlta will acquire facilities in Thamesvill, ON and Drumheller, AB
