+ Brexit watch: investors outside the UK are taking a ‘wait and see’ approach; shares in real estate companies are down (maybe a good time buy??), European investors wishing to exit the UK are looking at U.S. and Canadian assets …
+ Brookfield Canada Office Properties announced a big deal; 140,000 sq. ft. lease commitment from Scotiabank to move to Brookfield Place Calgary East tower; now at 81% leased; 56-storey tower is due to be completed in late 2017
+ CFF Bank is changing its name to Home Bank/Banque Home
+ ConocoPhillips announced they will lay-off 1,000 employees; 300 of those jobs are in Calgary
+ current energy prices – live link to Bloomberg energy prices; prices for crude continue to languish downward (Brent at US$44.75/WTI US$43.11 yesterday) – some analysts say it is a ‘refinery correction’ as markets are oversupplied with gasoline
+ ExxonMobil agreed to acquire InterOil Corp. for tis Papua New Guinea gas fields; the bid is US$2.5 billion
+ FACILITYCalgary OP-ED page: new article: ‘Alberta to Alaska Railway’ by Peter Wallis, Pres. @ The Van Horne Institute - click VIEWPOINT
+ Gibson Energy Inc. engaged advisors to explore sale of its industrial propane business
+ GOA is taking legal action on Power Purchase Agreements; claiming the ‘Enron clause’ was in appropriately inserted in contracts 1996 - 2000 (ones power producers have been opting out of); this issue is clearly headed for a lengthy legal battle … tic toc
+ Horizon North Logistics Inc. agreed to acquire Empire Camp Equipment Ltd. for $44.5 million
+ Husky Energy Inc. experienced a spill near Maidstone, SK; 1,570 barrels of crude leaked into the North Saskatchewan River has not been contained; risks to domestic water for Prince Albert and other communities
+ LNG in the news: Royal Dutch Shell’s Maran Gas Apollonia will carry the first LNG through the newly expanded Panama Canal this week
+ Pembina NGL Corporation is proposing to build a Redwater rail yard facility project to handle product from its Redwater Fractionation and Storage operation
+ PetroFrontier Corp. closed its $17.49 million acquisition of Kasten Energy Inc. [last week I reported this transaction as ‘the other way round’ … oops…sorry PetroFrontier]
+ Raging River Exploration Inc. got shareholder and court approval, and closed its acquisition of Rock Energy Inc.
+ rig counts are up: 115 rigs working in Western Canada, up from 100 last week
+ Rock Energy Inc. got shareholder approval of its arrangement with Raging River Exploration Inc.
+ Tamarack Valley Energy Ltd. closed its $25.8 million acquisition of a Redwater area portfolio
+ Tesla Exploration Ltd. is in default with its lender; Ernst & Young appointed receiver, board members all resigned
+ TORC Oil & Gas Ltd. agreed to acquire a portfolio of SE Saskatchewan light oil & liquids assets for $89.5 million from Zargon Oil & Gas Ltd.
+ NorthWest Healthcare Properties REIT closed $66.45 million equity financing
+ Mohawk Medical Properties REIT acquired two medical office buildings in Orlando, Florida; combined buildings total 60,000 sq. ft.
+ Peter Forde to Pres. @ SmartREIT
+ RioCan REIT agreed with CPPIB to acquire their interest in four properties, currently co-owned; RioCan will purchase CPPIB's 50% interest for $352 million, to hold 100% (Grandview Corners, Surrey; RioCan Meadows, Edmonton; RioCan Beacon Hill, Calgary; RioCan Centre Burloak, Oakville)
+ True North Commercial REIT closed $9.25 million equity financing
INFRASTRUCTURE / P3
+ Fiera Capital Corporation finalized a JV with transaction with Aquila Infrastructure Management, creating Fiera Infrastructure Inc.; had invested $500 million
+ Kineticor Resources Corp. announced it will build a 100MW Peace River Power plant; $100 million facility will be operational in 2nd half of 2017 and will be fired with natural gas produced by heavy oil producers in the Peace River area
INTERESTING REAL ESTATE NEWS, other places
+ Brookfield Asset Management Inc. is investing US$1.0 billing in a JV with State Bank of India to acquire distressed assets in India
+ San Diego Port Authority Commission has approved a 70-acre US$1.2 billion waterfront project, to be anchored by a 480-ft. observation tower; construction to begin in 2010+
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