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 

+ Al Holcomb, Director @ US Oil Sands Inc., resigned

+ Andrew de Guttadauro to Pres. @ Oncolytics Biotech (U.S.) Inc.

+ Antoinette Noviello to VP Corporate Comptroller @ Videotron

+ Anil Tahiliani to Sr. VP, Investment Counsellor @ Fiera Capital

+ Clinton McNair, CFO @ DIRTT Environmental Solutions Ltd., left the company

+ Christy Clark, Premier @ Government of British Columbia, defeated by non-confidence motion

+ Dan Toews, VP Finance & CFOR @ Marquee Energy Ltd., left the company

+ Duncan Hannay to Pres. & CEO @ Street Capital

+ Duncan Hannay to Pres. & CEO @ Street Capital Bank of Canada

+ Ed Gettings, Pres. & CEO @ Street Capital, retiring

+ Eric Watson to Pres. @ MasterBUILT Hotels

+ Erinn Broshko to Director & Exec. Chairman @ New West Energy Services Inc.

+ Ezequiel Martinez to CFO @ Madalena Energy Inc.

+ Gael MacLeod to Chair @ Alberta Gaming and Liquor Commission

+ Gino Scapillati to Vice-Chairman, Strategy and Innovation @ Bennett Jones SLP

+ Gloria Pui Yun Ho to Director @ Sunshine Oilsands Ltd.

+ Ha Tran to VP Finance @ DIRTT Environmental Solutions Ltd.

+ Howard Bolinger to Interim CFO @ Marquee Energy Ltd.

+ Jeff Jingfeng to Director @ Sunshine Oilsands Ltd.

+ Jennifer MacIntyre to Climate Change Ambassador @ Government of Canada

+ John Horgan to Premier Elect @ Government of British Columbia

+ John Van de Pol, Sr. VP & CFO @ Painted Pony Energy Ltd., retiring

+ Kenn Lalonde, Pres. & CEO @ TD Insurance to Chair @ Insurance Bureau of Canada

+ Lawrence Gamst, Director @ H2O Innovation Inc., resigned

+ Michael Casey to Chair @ The Calgary Airport Authority

+ Michael Penner to Director @ Bank of Nova Scotia

+ Peter Bruno to Pres. @ H&R Block Canada Inc.

+ Philippe Cloutier to Sr. VP and CFO @ Videotron

+ Rick Brown, Pres. @ H&R Block Canada Inc., retired

+ Rob Overbeck to Operations Mgr., Calgary @ 20 Vic Management Inc.

+ Robin Phinney, Pres. @ Karnalyte Resources Inc., left the company

+ Scott Jenkins, Pres. @ DIRTT Environmental Solutions Ltd., will serve as interim CFO

+ Serafino Iacono, Director @ US Oil Sands Inc., resigned

+ Sharon Giffen to Pres. @ Canadian Institute of Actuaries

+ Stanley Goldsworthy to Director @ VIA Rail Canada Inc.
+ Stephen Davis to Director @ H2O Innovation Inc.


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




IN MEMORIUM

+ Dave Semenko, notorious Edmonton Oiler player and ambassador, friend to many, died



 SAVE THE DATE / upcoming events

+ July 7 - 16; Calgary Stampede, Stampede Park, Calgary; info/tickets

+ July 14; Oxford Stomp, Fort Calgary in support of Rotary; info/tickets

+ Aug. 12-13; 9th Annual Enbridge Ride to Conquer Cancer; info/register/sign-up/sponsor

+ Sept. 2-3; 27th Annual Canmore Highland Games, Canmore, info/volunteering/tickets

+ Sept. 6; Canadian Apartment Investment Conference, Toronto Convention Centre; info/register

+ Sept. 7; Real REIT, Toronto Convention Centre; info/register

+ Sept. 7-8; 12th Annual Pipeline Development and Expansion Conference, The Houstonian Hotel, Houston; info/register

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Sept. 27; BOMEX 2017 - Canada's Building Excellence Summit, Conference, Trade Show and Awards Gala; Toronto; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal


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



  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ ASC – Alberta Securities Commission

+ AUC – Alberta Utilities Commission

+ BBL – barrel

+ BBLS/D – barrels per day

+ 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

+ 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

+ 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

+ 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


FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated July 4, 2017




 TODAY'S HEADLINES


HEADLINES: Bellatrix asset sale | Canam Group goes private | Cardinal $300 million acquisition | crude is up! | CPPIB investing US$1 billion in oil &gas | GE closed acquisition of Baker Hughes | Parkland Fuel closed $985 million acquisition | Staples sold | SNC-Lavalin selling infrastructure assets | Total SA in US$5 billion Iranian dev. Deal | Whirlpool Dist. Centre + Steve Mumchur interview | upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Steve Mamchur, Pharmacist/Owner of KenRon Compounding Pharmacy

A recent conversation with Samara Felesky-Hunt, Dietition and Nutritional Consultant

A recent conversation with Anthony Sanni, speaker/educator

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



 sponsors of this week's issue:

e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



CONTACT DAWSCO
 
COFFEE SERVICES



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



 CHARITY + INDUSTRY GOLF TOURNAMENTS 

+ July 6; 26th Annual Parkinson Tulip Tournament, Sirocco Golf Club, Calgary; info/register

+ July 6; 15th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ Aug. 15-17; Priddis Greens Charity Classic, Priddis Greens Golf & Country Club, Priddis; info/register

+ Sept. 7; Calgary Dream Centre 9th Annual Chairty Golf Classic, Heritage Pointe Golf Club, De Winton; info/register


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



 SHAREHOLDER MEETINGS

+ July 6; PetroShale Inc., Annual and Special Meeting, Calgary

+ July 12; Lonestar West Inc., Special Meeting of Shareholders, Sylvan Lake, AB

+ July 26; Sunshine Oilsands Ltd., Special Meeting of Shareholders, Hong Kong

+ Aug. 3; PRO REIT, Special Meeting of Unitholders, Montreal


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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Jennifer MacIntyre to Climate Change Ambassador @ Government of Canada

+ Waterfront Toronto is getting support to make it climate change resistant; $1.185 billion project cost to be shared by Toronto, Ontario and federal governments




INTERESTING REAL ESTATE NEWS, other places


+ Algeco Scotsman’s majority shareholder TDR Capital LLP agreed to acquired Iron Horse Ranch entities (8 lodges, 1,900 beds)

+ Blackstone Real Estate agreed to acquire Croesus Retail Trust (a Singapore based REIT with a portfolio of 11 malls in Japan) for US$650.0 million

+ CPPIB agreed to acquire 100% of Parkway, a Houston based REIT for US$1.2 billion

+ JCF Capital ULC terminated its management agreement with Trump Hotels regarding the Trump International (65-story/251 room hotel) and Tower Toronto; sold to InnVest Hotels LP, to be renovated and re-flagged as the St. Regis Toronto

+ KingSett Mortgage Corp. acquiring a portfolio of 15 Saskatchewan apartment properties (1,200 units) via the ‘loan to own’ method …




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NEWS SUMMARY 
 June 27 ~ July 4 


+ Alimentation Couche-Tard Inc. closed its acquisition of CST Brands Inc. (9,500 convenience stores in North America)

+ Alimentation Couche-Tard Inc. closed its sale of Canadian CST assets (495 dealer retail fuel sites, 73 commercial cardlock sites, 30 home heating oil sites and 159 owned retail fuel sites) to Parkland Fuel Corporation for $985.0 million

+ Bank of Canada rate increase expected tomorrow

+ Bellatrix Exploration Ltd. closed $34.5 million sale of a portfolio of non-core Strachan area assets

+ Canadian Equipment Rentals Corp. changed its name to Zedcor Eneryg Inc.

+ Canan Group completed its going-private transaction

+ Cardinal Energy Ltd. closed its $300.0 million acquisition of a portfolio of light oil assets

+ CN broke ground a new facility (425,000 sq. ft. regional distribution facility for Whirlpool Canada) at its Calgary Logistics Park

+ CPPIB, in partnership with Encino Energy LLC, is on the hunt for $1.0 billion in U.S. oil & gas assets

+ current energy prices – live link to current Bloomberg energy prices; crude trending up on reduced U.S. inventories/drilling and output slowed; WTI near US$47/bbl, Brent scratching underside of US$50/bbl – stay tuned for news on a new OPEC output cap … tic toc

+ General Electric Co. closed its acquisition of Baker Hughes Inc.; new entity will have 70,000 employees and be known as ‘Baker Hughes, a GE company’ with headquarters in London and Houston; combined service operations will have $23.0 billion in annual revenue

+ GOA released its 2016-17 Annual Report

+ Henry Singer store moving to 8th Avenue Place; 6,000 sq. ft. store opens in October

+ North West Refining, 50% owners of the Sturgeon Refinery engaged advisors to explore liquidity alternatives

+ SNC-Lavalin completed its $3.6 billion acquisition of British based WS Atkins (18,000 employees)
+ Strad Energy Services Inc. increased its 2017 CapEx Budget by $15.0 million to $26.0 million

+ Staples Inc. agreed to be taken over by Sycamore Partners for US$6.9 billion

+ Sturgeon Refinery project running over budget; now projected to cost $9.0 billion when complete

+ Total SA and China National Petroleum Corp. made a deal with the National Iranian Oil co. to develop part of the South Pars offshore gas field; estimated capital cost US$4.8 billion

+ weekly rig counts Canada: up 19 to 189




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Automotive Properties REIT secured $68.7 million credit facility

+ Bank of Montreal closed $400.0 million preferred share financing

+ BlackPearl Resources Inc. closed $75.0 million sr. secured debt financing

+ BonTerra Resources Inc. closed $20.0 million equity financing

+ Brookfield Renewable Partners LP is on the market to raise $550.0 million in equity

+ Canbriam Energy closed US$74.0 million equity financing

+ Crius Energy Trust closted $16.5 million equity financing

+ DataWind Inc. is on the market to raise $500,000.0 in secured convertible debt by private placement

+ Ferus Inc. secured $25.0 million debt financing

+ Home Capital Group Inc. closed $152,225,739.0 equity financing

+ Home Capital Group Inc. closed $2.0 billion credit facility

+ NexGen Energy Ld. secured US$50.0 million equity financing

+ NexGen Energy Ltd. secured US$60.0 million unsecured convertible debt financing

+ Nexus REIT closed $55.0 million equity financing

+ Nexus REIT closed $15.0 million equity financing by private placement

+ Posera Ltd. is on the market to raise $2.84 million in equity by private placement
+ Potash Ridge Corporation closed $880,000.0 equity financing by private placement

+ Summit Industrial Income REIT closed $69.0 million equity financing

+ Toronto Hydro Corporation closed $250.0 million equity financing

+ True North Commercial REIT is on the market to raise $30.0 million in equity

+ US Oil Sands Inc. closed US$2.5 million trance of a sr. secured debt financing




 QUOTES

+ Much of the vitality in a friendship lies in the honoring of differences, not simply in the enjoyment of similarities. – James Fredericks

+ When a person doesn’t have gratitude, something is missing in his or her humanity. – Elie Wiesel




 KUDOS

+ Canadian Space Agency named our two newest astronauts: both Albertans; Calgary born Dr. Jenni Sidey and Fort Saskatchewan’s Joshua Kutryk
+ to Lucy Miller, recently retired CEO @ United Way of Calgary and Area – named Citizen of the Year by the City of Calgary

+ to Calgarians announced on Canada Day as newest recipients of the Order of Canada: William Siebens to Officer of the Order of Canada; Nady el-Guebaly and Kim McConnell named Members of the Order of Canada




 CONSTRUCTION NEWS + INNOVATION 

+ Bespoke Metrics have launched a new software tool: COMPASS, a subcontractor prequalification software for General Contractors 



 this week in REITS 


+ Automotive Properties REIT secured $68.7 million credit facility

+ Canadian Apartment Properties REIT (CAPREIT) agreed to acquire 19 properties (849 units) in the Netherlands for EUR100.8 million

+ Nexus REIT closed $55.0 million equity financing

+ Nexus REIT closed $15.0 million equity financing by private placement
+ Summit Industrial Income REIT closed $69.0 million equity financing

+ True North Commercial REIT closed the acquisition of two properties (GTA & Victoria) for $22.1 million

+ True North Commercial REIT is on the market to raise $30.0 million in equity




 INFRASTRUCTURE / P3  


+ National Research Council Canada in planning an advanced manufacturing research and development facility in Winnipeg; the search by a Request For Offers has been commenced – site to be chosen by Sept./17

+ SNC-Lavalin established a new entity, SNC-Lavalin Infrastructure Partners LP; initially it will hold all infrastructure assets currently held by the parent; interests in: William R. Bennett Bridge (Kelowna), the Canada Line (Vancouver), SE Stoney Trail (Calgary), Restigouche Hospital Centre (Campbellton, NB), MUHC Glen site (Montreal) with a goal to monetizing those assets while retaining an equity interest and management of the assets 



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this site last updated May 27, 2025