FACILITYCalgary

news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary May 27/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Amarjeet Sohi. To Minister of Natural Resources @ Government of Canada

+ Anned Mette de Place Filippini to Deputy Chief Investment Officer @ Burgundy Asset Management Ltd.

+ Arthur Atkinson, COO Buildings Group @ Stuart Olson, left the company

+ David Lemay, Pres. & CEO @ Stuart Olson to Acting COO Buildings Group

+ Franco Sciannablo to Sr. VP & CFO @ Yellow Pages Limited

+ Glenn Dawson to Director @ International Frontier Resources Corporation

 + Jacqueline Sheppard to Director @ AIMCo

+ Jean-Louis Servranckx to Pres. & CEO @ Aecon Group Inc.

+ Jim Bertram to Director @ Emera Inc.

+ Jochen Tilk to Director @ Emera Inc.

+ Ken Taylor, CFO @ Yellow Pages Limited, leaving the company

+ Maggie Farrnington to Board Chair @ Keyano College

+ Matt Abel to Sr. Project Mgr. @ Jayman BUILT

+ Michael Sczesny to Managing Principal, Edmonton @ Riddell Kurczaba Architecture

+ Oliver Nachevski to VP & COO @ Strongco Corporation

+ Roger Chaffin, Chief @ Calgary Police Service, retiring

+ Stanley Smith to Director @ Toscana Energy Income Corporation

+ Tina Lai to Chief Human Relations Officer @ Seaspan Corporation


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


 MEMORIAM

+ Alan Castle, retired lawyer and co-founder of the Trinity Place Foundation; 86

+ Barry Steinfeld, Partner @ MacLeod Law; 68

+ Larry Robinson, CFL Hall of Famer, former Calgary Stampeder; 76




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ swearing at work …

+ are you paying for double benefit coverages?




 CHARITY GOLF TOURNAMENTS 

+ Aug. 8; 2018 Robert Quatsch Memorial Golf Tournament, Sturgeon Valley Golf & Country Club, Edmonton; info/registration

+ Aug. 13; 17th Annual Links & Legends Charity Golf Tournament, Valleyridge Golf Course, Calgary; info/register


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



 CALGARY OLYMPICS 2026 BID WATCH 


+ City Council approved and additional $5.1 million for the pre-bid/due-diligence process

+ bid stages and timelines




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ 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

+ 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

+ 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

+ 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

+ 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


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this  site is refreshed with a new issue every Tuesday morning


updated July 24, 2018




 TODAY'S HEADLINES


HEADLINES: CNRL milestone | E&Y finalists | Nutrien asset sale | Ralph Klein Park opened | Tervita/Newalta merger closed + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

A recent conversation with Trevor Winkler, Regional Managing Partner @ MNP

A recent conversation with Deb Hymers, Founder/CEO of NSTEP

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



 sponsors of this week's issue:

e-mail to Katherine Robinson, Managing Director

e-mail to Kim Green, Sr. Associate, Interior Design
ARCHITECTURE + INTERIOR DESIGN



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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



e-mail Norm Landry
 
PROJECT MANAGEMENT



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



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 SAVE THE DATE / upcoming events

+ July 26-29; Calgary Folk Music Festival, Prince’s Island Park; info/tickets

+ Sept. 1-2; Canmore Highland Games, Centennial Park, Canmore; info/tickets

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

+ Sept. 5; Canadian Apartment Investment Conference, Metro Toronto Convention Centre, Toronto; info/register

+ Sept. 25-27; International Pipeline EXPO, Telus Convention Centre, Calgary; info/registration

+ Sept. 6; RealREIT Conference, Metro Toronto Convention Centre, Toronto; program/registratio

+ Oct. 23-25; 2018 CanWEA Annual Conference and Exhibition, BMO Centre, Stampede Park, Calgary; info/registration

+ Oct. 30; 24th Annual Joint Conference – GPAC/PJVA; Calgary Petroleum Club, Calgary; info/registration

+ Nov. 28-29; Real Estate Forum, Metro Toronto Convention Centre, info/register

~~

+ May 26-29/2019; 10th Annual Clean Energy Ministerial and 4th Annual Mission Innovation, Vancouver; details


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ GOA, through Emissions Reductions Alberta are providing $70.0 million in grants for the BEST (Biotechnology, Electricity and Sustainable Transportation) Challenge




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NEWS SUMMARY 
 July 17 ~ 24 


+ Canadian Natural Resources Limited passed the 1.0 billion/barrel milestone at its Athabasca Oil Sands Project

+ castle anyone? - Calgary’s namesake castle in Scotland, overlooking Calgary Bay – on the market for $1.2 million!

+ current energy prices – live link to current Bloomberg energy prices; prices eased this week on reports of record U.S. output and inventory builds, then rose after Trump threatened Iran … tic toc

+ Eagle Energy Inc. sold its Twining, AB oil & natural gas assets for $13,820,000

+ Ernst & Young announced 48 finalists/10 categories: EY Entrepreneur of the Year Awards

+ Gear Energy Ltd. agreed to acquire Steppe Resources Inc. in a shares and assumption of debt transaction

+ Market on Macleod farmer’s market relocating to Avenida; vacating to make way for redevelopment, set to open in Avenida this fall ..

+ Nutrien Ltd. agreed to sell its interest in Arab Potash Company for $502.0 million

+ Ralph Klein Park & Environmental Education Centre officially opened; info/hours of operation

+ rig counts: up 14 to 211 this week; full breakdown

+ Tervita Corporation and Newalta Corporation completed their merger; will operate as Tervita

+ Trudeau government failed to find a new buyer for the Trans Mountain pipeline by the July 22 deadline; accordingly the government will go forward to close the $4.5 billion purchase from Kind Morgan

+ Trudeau government announced a cabinet shuffle

+ U.S. rig counts: down 8 to 1,046; full breakdown




THIS WEEK IN FINANCINGS 
- proposed & closed

+ CI Financial Corp. closed $325.0 million debt financing

+ ESI Energy Services Inc. closed $10.0 million equity financing by private placement

+ First Capital Realty Inc. closed $200.0 million equity financing

+ InterRent REIT is on the market to raise $100.0 million in equity

+ Power Corporation of Canada closed $250.0 million debt financing

+ Saturn Oil & Gas Inc. closed $4.04 million equity financing by private placement

+ SDX Energy Inc. secured US$10.0 credit facility

+ TransAlta OCP LP is on the market to raise $345.0 million in debt by private placement

+ True North Commercial REIT closed $57.5 million equity financing

*editor’s note: names companies involved in debt financing transactions we report in this section are ALWAYS the borrower …




 KUDOS 

+ to Willow Park Charity Classic Golf Tournament – 2 day event raised $700,000 for the Calgary Counselling Centre




 QUOTES 

+ Always go with your passions. Never ask yourself if it’s realistic or not. – Deepak Chopra

+ Take a rest; a field that has rested gives bountiful crops. - Ovid




 CONSTRUCTION NEWS + INNOVATION 

+ B.C. government announced it will create a Crown Corporation to handle union-friendly construction contracting by the government, boards and agencies – declared intention to discourage private non-union companies from bidding on infrastructure projects … tic toc

+ ground broken on Gordie Howe International Bridge on July 17th; will be the largest span ‘cable-stayed’ bridge in North America




 this week in REITS 


+ Alignvest Student Housing REIT make it’s first acquisition

+ Dream Office REIT put 700 de la Gauchetiere in Montreal on the market; expected to fetch $300.0 million

+ InterRent REIT is on the market to raise $100.0 million in equity

+ True North Commercial REIT closed $57.5 million equity financing

+ True North Commercial REIT agreed to acquire 52,000 sq. ft. office property in Abbotsford, BC for $22.0 million




 INFRASTRUCTURE / P3  


+ Plenary PCL Justice broke ground on the Abbotsford Law Courts project; completion in 2020

+ TransAlta Corporation is retiring its Sundance Unit 2 power plant July 31/18




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Anbang Insurance Group Co. Ltd. is looking to offload $10.0 billion in properties – including Bentall Centre in Vancouver and 70 York St. in Toronto

+ Canada Pension Plan Investment Board(45%) is doing a JV with Boston Properties Inc.(55%); US$628.0 million deal to acquire a 21 building/1.2 million sq. ft. development in West Los Angeles; 70% of the site is under a ground lease with 80 yrs. remaining

+ in Houston, Hines & Ivanhoe Cambridge broker ground on 47-storey office tower; 1.0 million sq. ft. tower to open in late 2021

+ in Las Vegas, Caesars is adding a US$375.0 million conference facility; 550,000 sq. ft. including massive pillarless ballrooms

+ in New York City’s Hudson Yards project, Oxford et al topped-off their #30 Hudson Yards tower; 1,296 feet, 90-story/2.6 million sq. ft. tower has a US$20.0 billion price tag. LEED Platinum building is 2nd tallest in New York

+ Minto Capital Management Inc. acquired Manor Village in Ottawa




 INTERESTING THINGS IN OFFICE REAL ESTATE 


+ in Vancouver, Deloitte’s are moving to a new building; they will take 117,000 sq. ft. in 400W Georgia, a new project (Allied REIT and Westbank Corp.




 INTERESTING THINGS IN RETAIL 


+ Birks won the 2018 World Branding Award

+ Kenneth Cole opened its Canadian flagship store in Toronto




 SHAREHOLDER MEETINGS

+ Aug. 21; Raging River Explorartion Inc., Special Meeting of Shareholders, Calgary

+ Aug. 21; Baytex Energy Corp., Special Meeting of Shareholders, Calgary


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

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this site last updated May 27, 2025