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FACILITYCalgary June21/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alka Gautam to Board Chair @ Canadian Life and Health Insurance Association

+ Bob Lupmanis to Director, Market Data Services @ Omega Securities Inc.

+ Chris Basset to National Dir., Content and Editorial Standards – Global News @ Corus Entertainment Inc.

+ Chris Reid, CFO @ CruzSur Energy Corp., resigned

+ Christopher Riddoch to Bus. Dev. Mgr. @ Modis

+ Craig Skauge to Pres. @ Olympia Trust Company

+ Darren Smits to Co-Managing Partner @ Burstall LLP

+ Donna Brandin to Director @ Invesque Inc.

+ Dr. Theodora Kapoyannis to Director of Field Experience, Werklund School of Education @ University of Calgary

+ George Cope, Pres. & CEO @ BCE Inc. and Bell Canada, retiring Q1 2020

+ Gianna Manes, Pres. & CEO @ ENMAX announced retiring Q1 2020

+ Gregory Vorwaller, Director @ Trez Capital Senior Mortgage Investment Corporation, resigned

+ Jay Tucker, CFO @ Subversive Capital Acquistion Corp.

+ Jenny Leavey to Sourcing Specialist @ Pembina Pipeline Corporation

+ John Russell to Web Application Developer @ ICE Health Systems

+ Khalil Hankach to Interim CFO @ Inovalis REIT

+ Kristin Gulka, CFO @ Hemostemix Inc., resigned

+ Marianella Parada to CFO @ CruzSur Energy Corp.

+ Mark Reid to Interim CEO @ SDX Energy PLC

+ Mary Cameron to Vice-Chair @ Habitat for Humanity International

+ Megan Gauley to Mgr. Employee & Leader Communications @ Suncor

+ Michael Raynes, CEO & Director @ SDX Energy PLC, resigned

+ Mirko Bibic to Pres. & CEO @ BCE Inc.

+ Paul Romain to Chief Compliance Officers @ Omega Securities Inc.

+ Rick Andison to Project Director, Buildings Group @ Stuart Olson Inc.

+ Ronnie Prasad to Dir. Corporate Finance @ BDC

+ Silvy Wright to Board Chair @ Insurance Bureau of Canada

+ Stephane Lesperance to Pres., Commercial Ris and Health Solutions in Canada @ Aon Plc

+ Stephane Amine to Truste @ Inovalis REIT

+ Stephen Mandel, Leader @ Alberta Party, stepped down

+ Steve Hawkins to Board Chair @ Canadian ETF Association

+ Susan Handrigan to Pres. & CEO @ Canada Youth World

+ Tom Wenner, CFO @ Inovalis REIT, left the company

+ Tracey Bodnarchuk to Chief Revenue Officer @ Hopewell Residential Management LP

+ Zoe Addington to ADM, Economic Policy, Executive Council @ Government of Alberta

~

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




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ Evolution of Work 2.0 ! ~ The Me v. We Mindset

+ job description survey results

+ one-third of w orkers finding romance at work - yay cupid!




 QUOTES 

+ I feel the capacity to care is the thing which gives life its deepest significance.- Pablo Casals

+ The unselfish effort to bring cheer to others will be the beginning of a happier life for ourselves. – Helen Keller




  KUDOS  

+ two Alberta properties won International TOBY Awards, presented at the BOMA International TOBY Awards in Salt Lake City: Cochrane Community Health Centre (Bentall Kennedy) won Medical Office Building TOBY, and Park Place Shopping Centre (Primaris Mgmt.) won the Retail Building TOBY ..

+ to Hayley Wickenheiser, elected to the Hockey Hall of Fame

+ to Order of Canada recipients, four from Calgary: Ronnie Burkett, Elizabeth Cannon, Eldon Godfrey and Keith MacPhail ~ full honours list




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ ABS – Asset Backed Securities

+ 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

+ DAB – Development Appeal Board

+ DILBIT – diluted bitumen

+ 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

+ FEED – front-end engineering and design

+ 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

+ ISO – International Organization for Standardization

+ 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

+ ROFR – right of first refusal

+ 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


 weekly newsletter




current week data

this  site is refreshed with a new issue every Tuesday


updated July 2, 2019


Editor/Publisher: Mark Kolke



 TODAY'S HEADLINES


HEADLINES: ASC survey | Air Canada sale | Devon sale closed | Pieridae Energy buy Shell assets + Neil Camarta interview  + deals + rig counts + upcoming events, appointments, Golf Tournaments + 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:

This week's conversation with Neil Camarta, Pres. & CEO @ Field Upgrading and former Sr. VP Oilsands @ Suncor and Royal Dutch Shell

A recent conversation with John Kenny, Founder and Exec. VP @! Yr Plans Inc. and co-founder of Solium Capital

A recent conversation with Shannon Bowen-Smed, CEO @ Bowen Group

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



 sponsors of this week's issue:

 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



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



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



CLICK HERE TO GET MARK'S HOME SEARCH APP FOR YOUR MOBILE PHONE - search any MLS listing you see, get information and/or book a showing without making a call - check it out! It's new and aVERY cool tool.

CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ July 11; 17th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

+ Aug 12; Shrine Golf Tournament, Pinebrook Golf and Country Club, Calgary; details/sponsor/register

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ Sept. 4; Little Warriors 4th Annual Golf Tournament, The Quarry, Edmonton; info/register

+ Sept. 5; 2019 Enmax BOMA Golf Tournament, Kananaskis Country GC, Kananaskis; info/register

~

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




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NEWS SUMMARY 
 June 25 ~ July 2 


+ Alberta corporate tax dropped to 11% on July 1, now lowest provincial rate in Canada

+ Alberta Securities Commission published its consultation paper: Energizing Alberta’s Capital Market

+ Air Canada seems to have concluded its acquisition of Transat A.T., though Mach Group keeps advocating for their rival bid backed by the Quebec Government – seems Transat A.T.’s board and shareholders will have the final say… tic toc

+ Botaneco Inc., a plant protein company got $8.0 million in federal government agriculture supercluster funding

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices up as U.S. crude stocks drop and holding steady on news U.S. and China are agreeing to a standstill on tariff wars … tic toc

+ Devon Energy Corp. closed its $3.8 billion sale of its Canadian business/Devon Canada assets to Canadian Natural Resources Limited

+ GOA eased its restrictions of oil production curtailments for August; 3.74 million bpd compared with 3.71 million bpd for July

+ GOA hired CIBC to divest of its crude-by-rail program

+ LNG Canada got a $275.0 million federal government investment in support of its $40.0 billion LNG project at Kitimat, BC

+ Pacific Oil and Gas Ltd. closed its acquisition of Canbriam Energy Inc.

+ Paramount Resources Ltd. agreed to sell its Karr 6-18 natural gas facility, related midstream assets and expansion in progress for $470.0 million to CSV Midstream Solutions Corp.

+ Pieridae Energy Ltd. agreed to acquire all of Shell’s midstream and upstream assets in Southern Alberta for $190.0 million

+ rig activity in Canada

+ rig counts – U.S.: holding steady at 967 this week; Canada: up 5 to 124 this week; full breakdown

+ Scotiabank agreed to sell its operations in Puerto Rico and U.S. Virgin Islands to Oriental Bank




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Automotive Properties REIT completed an $84.0 million equity financing

+ Cequence Energy Ltd. closed $11.2 million equity financing by private placement

+ LOOP Insights Inc. closed $3.0 million equity financing by private placement

+ Renoworks Software Inc. closed $750,000.0 equity financing by private placement

+ Scotiabank is on the market to raise $1.5 billion in sub. debt

+ UrtheCast Corp. closed US$1.5 million debt financing

~

*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 …




 INFRASTRUCTURE / P3  


+ Brookfield Asset Management Inc. and Singapore’s sovereign wealth fund GIC agreed to acquire U.S. railroad Genesee & Wyoming Inc. for US$6.37 billion

+ Calgary City Hall in some turmoil over the GreenLine LRT project; seems the ‘way across or under the Bow’ is in limbo causing some to advocate stalling the project until technical issues are resolved … tic toc

+ Canada Infrastructure Bank committed $71.1 million to VIA Rail Canada to explore high frequency rail service in the Quebec City – Toronto corridor




 CONSTRUCTION NEWS + INNOVATION 

+ everything you ever wanted to know about brick cladding

+ governments of Canada, Saskatchewan and Alberta investing $81.5 million in new wastewater treatment plant in Lloydminster

+ Jasper National Park’s Whistlers Campground redo; $48.7 million contract awarded to PCL Limited




 SAVE THE DATE / upcoming events

+  July 1-8; Climate Innovation Forum 2019; London, UK; info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ July 23; Policy & A Pint, U of C School of Public Policy, Junction YYC, Calgary; info/tickets

+ Sept. 2-4; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register

+ Sept. 9-11; BOMEX 2019, St. John’s, Nfld.; info/sponsor/register

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

+ Sept. 17-19; Canadian Association of Professional Landmen (CAPL), 2019 Conference, Calgary; info/register

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 6; Calgary Real Estate Forum, TELUS Convention Centre; info/register

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


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



 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ Purolator are building a ‘national super hub’ in Toronto; $330.0 million facility on 60 acre site – a 430,000 sq. ft. building will go into service in 2021




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ Hines have entered the coworking trend; Hines Squared will work with Industrious and Convene




 INTERESTING TRENDS IN RETAIL 


+ Catalyst Capital Group Inc. acquired a stake in Hudson’s Bay Co. – reported to be planning a counter to the $1.0 billion pending takeover bid by Richard Baker … tic toc

+ Costco opened its largest store in Canada, 183,000 sq. ft., in St. John’s, NL

+ Oliver & Bonacini Hospitality will operate four restaurants in the ICE District Marriott hotel in Edmonton




 this week in REITS 


+ American Landmark/Electra America is reported to be bidding to acquire Pure Multi-Family REIT LP vs. a deal already in play with another bidder … tic toc

+ Automotive Properties REIT completed an $84.0 million equity financing

+ Automotive Properties REIT completed its $30.4 million acquisition of three dealerships from AutoCanada Inc.

+ BTB REIT acquired two properties on the south short of Montreal for $62.6 million

+ Corporate Office Properties TRUST formed a JV with Backstone REIT for purchase of seven of COPT’s data center properties valued at US$265.0 million/1.2 million sq. ft. of warehouse space

+ European Residential REIT closed an acquisition of 21 Netherlands projects from CAP REIT for €98.0 million

+ Khalil Hankach to Interim CFO @ Inovalis REIT

+ Stephane Amine to Truste @ Inovalis REIT

+ Tom Wenner, CFO @ Inovalis REIT, left the company




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ in Ottawa, Common is partnering with Dream Unlimited Corp. to develop Common Zibi, 252-bed residence on the Ottawa River in the 34-acre Zibi project

+ in Roseville CA, Anthem United acquired 460 acres of land; Creekview will be a master planned community

+ in Toronto, Oxford Properties unveiled plans for $3.5 billion project; Union Park will be a 4.3 million sq. ft. mixed use project – two office towers, two residential towers and an urban park built over a rail corridor adjacent to Rogers Centre and the CN Tower




 SHAREHOLDER MEETINGS

+ July 5; Flow Capital Corp., Annual Special Meeting, Toronto

+ July 11; Emera Inc., Special Meeting of Shareholders, Halifax

+ July 23; WestJet Airlines Ltd., Special Meeting of Shareholders, Calgary

~

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




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