+ Sept. 22-24; BOMEX 2020, 20th Annual Building Excellence Summit, JW Marriott Parq, Vancouver; save the date
+ Sept. 29-30; Business Transitions Forum, Westin Edmonton; info/registration
+ Sept. 30; Vancouver Real Estate Forum, Vancouver Convention Centre West, Vancouver; info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 28; BOMEX 2020 Virtual
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ L.L. Bean expanding its stores in Canada in partnership with Jaytex Group; Barrie, Ottawa, and Don Mills
+ J.C. Penny Co. in negotiation with lenders and landlords; conditional deal would have them exit bankruptcy protection … tic toc
+ QuanU will open its first location in Canada; the Chinese furniture retailer will open in Kennedy Commons Plaza in Toronto
+ Walmart Canada announced a $3.5 billion investment plan over five years; will involve store renovations (150 over 3 years), distribution centres (2) and new technology applications
INTERESTING REAL ESTATE NEWS FROM OTHER PLACES
+ Desjardins Group agreed to acquire Purplebricks Group plc for $60.5 million
+ Groupe Quint acquired the former Holt Renfrew building Montreal; terms not disclosed
SAVE THE DATE - CHARITY GOLF TOURNAMENTS
+ Sept. 11; Alberta Treasury Management Charity Classic – in support of Big Brothers Big Sisters of Calgary and Area, Canmore Golf & Curling Club; info/registration
+ Sept. 17; Ronald McDonald House Alberta Charity Golf Classic, 20th Anniversary; Silvertip Golf Resort, Canmore; info/register
+ Sept. 18; Alberta IoT Getting Back to Business Golf Tournament, Apple Creek, Rockyview Country; info/register/sponsor
+ PLEASE SEND US YOUR 2021 tournament details for posting here!
+ Alberta COVID-19 stats – cases spiking: 170 deaths, 1,109 active cases, 9,587 cases to date: aggregate Alberta data – currently, 86 Albertans are in the hospital with COVID-19, and 17 of those are in intensive care units
+ Alberta did a Stage 2 relaunch, allowing many more businesses to re-open and allowing a wider range of public gathering activities started June 12th; state of public health emergency status for Calgary, and for Alberta, now lifted. The maximum size of outdoor gatherings has been raised to 200
+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board
+ BJ Services filed for Chapter 11 bankruptcy protection
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; OPEC+ group want to relax production cutbacks but consumption-rise uncertainty continues to impact trading ~ meanwhile, WTI is steady around US$40/bbl as demand remains soft
+ Enbridge Inc. being extorted by Michigan regulators over permission to resume full operation of its Line 5 twin lines under the Straits Of Mackinac; the lines have been there, underwater, since 1953 …tic toc
+ Ensign Energy Services Inc. acquired Halliburton’s 40% stake in Trinidad Drilling International for US$33.4 million to now hold 100% of Trinidad
+ Government of Canada has struck a deal with the provinces; will provide $19.0 billion as its contribution to a ‘safe restart’ of COVID impacted economies; GOA is onboard …
+ Just Energy Group Inc. going through a recapitalization transaction; new board appointments pending
+ Premium Brands Holdings Corporation closed $34.5 million equity financing by private placement
+ Storagevault Canada Inc. closed $75.0 million sr. unsecured debt financing
+ Sylogist Ltd. secured $40.0 million credit facility
~
*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 or non-arm’s-length transactions …
+ CAP REIT sold its Queen’s Park Village Townhouses (188 units) asset in Calgary for $30.5 million
+ Killam Apartment REIT is on the market to raise $50.0 million in equity
INFRASTRUCTURE + P3
+ B.C. Ministry of Transportation chose its preferred proponent for the $2.8e billion Broadway subway project; Acciona North America led team will likely start construction later this year
+ GOA announced an upgrade at NAIT; will contribute $8.13 million for mechanical systems upgrade to Building O
+ Innergex Renewable Energy Inc. acquired a portfolio of six operating wind farms (23MW) in Elmore County, Idaho for US$56.8 million from Terna Energy SA
+ SNC-Lavalin chosen as Strategic Delivery Partner to Thames Water, to deliver asset management, project management, and technical services as part of a £9bn capital program; £20m, five-year contract
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ Walmart Canada announced a $3.5 billion investment plan over five years; will involve store renovations (150 over 3 years), distribution centres (2) and new technology applications
QUOTES
+ The road to success is always under construction. – unknown
+ When I say artist I mean the man who is building things – creating, molding the earth – whether it be the plains of the west, or the iron ore of Pennsylvania. It’s all a big game of construction, some with a brush, some with a shovel, some choose a pen. – Jackson Pollock
KUDOS
+ to four former Calgary Stampeders elected to the CFL Hall of Fame; John Hufnagel, Freddie Childress, Henry Burris, and Greg Vavra
