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FACILITYCalgary Aug9/22

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Amanda Wright to Accounting Mgr., Calgary Communities @ Brookfield Residential

+ Andrea Goertz to Director @ Calgary Airport Authority

+ Andrea Martin, Director @ Quebecor Inc. and Quebecor Media Inc., stepped down

+ Brent McLean to Measurement Advisor @ Inter Pipeline

+ Colin Gruending to Exec. VP & CFO @ Enbridge Inc.

+ Daniel Henry to VP Bus. Dev. @ Desjardins Insurance

+ David Klassen to Sr. VP, Construction Sciences Unit @ EllisDon Corp.

+ Debbie Nordstrom to Sr. Director, Bus. Operations @ Alberta Ballet

+ Donald Sullivan to Sr. Legal Counsel & Mgr., Bus. Dev., Petrochemicals @ Pembina Pipeline Corporation

+ Dr. Emily Moore to Trustee @ Chemtrade Logistics Income Fund

+ Grant Billing to Director @ MEG Energy Corp.

+ Greg Wood to Bus. Dev. Specialist @ Raymond James

+ Ian Bruce to Director @ MEG Energy Corp.

+ Jill McWilliam to HealthChange Trainer @ Alberta Health Services

+ Joan Dunlop to Partner @ Cenera

+ John Whelan to Exec. VP & Chief Development Officers @ Enbridge Inc.

+ Judy Fairburn to Director @ MEG Energy Corp.

+ Laura Sayavedro to Sr. VP, Projects, Safety & Reliability and ERP @ Enbridge Inc.

+ Leanne Suitor to Sr. Recruiter @ Tundra Energy Marketing Limited

+ Lise Croteau to Director @ Quebecor Inc. and Quebecor Media Inc.

+ Lorne Rubis to Director @ FortisAlberta Inc.

+ Martin Dockrill to COO, Global Operations @ Avison Young

+ Phillip Scheibel to Director @ Calgary Airport Authority

+ Shaun McEwan, CFO @ Quarterhill Inc., stepping down

+ Stephen Ridley to Sr. Advisor to the CEO @ Imagination Park Technologies Inc.

+ Stephen Morris to Media and Communications @ Calgary Stampede Foundation

+ Suzan Valenta to Exec. Dir. @ Arthritis Society

+ Vera Ilnyckyj to Manager, Marketing & Bus. Dev. @ S2 Architecture

+ Vern Yu to Pres. & COO, Liquids Pipelines @ Enbridge Inc.

~

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




 MEMORIAM  

+ Grant Beck, President and CEO @ Graham; 63

+ Larry Kemshead, Red Deer realtor and former line-mate of mine in bantam hockey days; 67

+ Pat Bowlen, Alberta businessman/lawyer, construction company owner, philanthropist and former owner of the Denver Broncos; 75




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ personalizing the hiring process

+ Shred-it report indicates Canadian business is not concerned enough about data protection: 2019 Data Protection Report

+ 4 in 5 Canadians stressed over pay




 QUOTES 

+ Spread love everywhere you go. Let no one ever come to you without leaving happier. – Mother Teresa

+Touched by an act of kindness, be kind to others. – Lailah Akita




  KUDOS  

+ to the Toronto Raptors, winners of the NBA championship – a first for Canada!

+ to 2019 inductees in the Alberta Business Hall of Fame; Geoffrey Cumming, Suzanne West (posthumous), Margaret Southern and Jay Westman




  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




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 weekly newsletter


current week data

this  site is refreshed with a new issue every Tuesday


updated June 18, 2019


Editor/Publisher: Mark Kolke



 TODAY'S HEADLINES


HEADLINES: GMP sale to Stifel | RFA acquiring Street Capital | Shell selling Martinex refinery | TC Energy completed Sur de Texas line | TMX decision | WeWork coming to Calgary| imminent + John Kenny 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 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

A recent conversation with Carol Kitchen, Pres. & CEO @ UFA (United Farmers of Alberta)

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



 sponsors of this week's issue:

RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
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



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



e-mail to Katherine Robinson, Managing Director

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



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



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



 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Michael Bloomberg committed to invest US$500.0 million in Beyond Carbon, a venture to tackle climate change in the U.S.




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ June 20; Ambrose University 2019 Golf Classic, Glen Eagles, Cochrane; info/register

+ June 20; 26th Annual IFMA Calgary Open, Blue Devil Golf Club, Calgary; info/register

+ June 24; Special Olympics Calgary – 20th Annual Golf Classic; save the date / details coming soon

+ 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 11 ~ 18 


+ Alberta government watch: plans for a new Crown corporation announced – a vehicle to help First Nations groups gain ownership of oil & gas and pipeline projects; heavy advertising in support to TMX approval and continued advocacy against Bill C-69 and Bill C-48 … tic toc

~~

+ Bearspaw Country Club re-opened; Windmill Golf Group operating the coarse (on behalf of court appointed receivers) - open to public golf

+ B.W. Rig Supply Inc. is in bankruptcy

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices still soft but expected to rise as Saudis indicate OPEC reduced production levels will be extended – some trading volatility due to Gulf of Oman ship attacks … tic toc

+ fire evacuation: Chuckegg Creek fire (north of High Level) forcing evacuation at Indian Cabins and surrounding area …

+ GMP Capital Inc. agreed to sell its capital markets business unit to Stifel Financial Corp. for $70.0 million

+ H&R Block Inc. acquired Wave Financial Inc. for US$405.0 million

+ OSY Rentals Ltd. acquired production tank rental assets from Clean Harbors Canada

+ RFA Capital Inc. agreed to acquire Street Capital Group Inc. for $85.0 million

+ rig activity in Canada

+ rig counts – U.S.: down 6 to 969 this week; Canada: up 4 to 107 this week; full breakdown

+ Shell Oil Products (US) agreed to sell its Martinez Refinery in California to PBF Holding Company LLC for US$1.0 billion

+ Southern Energy Corp. closed US$16.5 million acquisition of Mississippi natural gas assets

+ TC Energy Corp. completed its $2.5 billion Sur de Texas (Texas to Mexico) pipeline

+ Trans Mountain Pipeline expansion (TMX) project - cabinet re-approval deadline is today; speculation continues to stress the industry as Ottawa’s decision is too wrapped in politics to leave anyone confident about the outcome; this project was approved and then cancelled by a court ruling requiring further consultation on environmental and indigenous issues – which consultations are now complete, so it is decision time … tic toc

+ Trudeau government announced to impose a carbon tax on Alberta starting Jan 1/2020

+ WeWork expanding to Calgary; they will open in The Edison in December (76,000 sq. ft.) and in Stephen Avenue Place (66,000 sq. ft.) in Q1/2020




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Agrios Global Holdings Ltd. is on the market to raise $3.0 million in convertible debt by private placement

+ Agrios Global Holdings Ltd. closed $1.01 million tranche of its convertible debt financing

+ Automotive Properties REIT is on the market to raise $73.2 million in equity

+ BTB REIT closed $28.8 million equity financing

+ Canadian Western Bank closed $250.0 million sub debt financing

+ Choice Properties REIT closed $750.0 million sr. unsecured debt financing

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

+ Fiera Capital Corporation is on the market to raise $100.0 million in unsecured sr. sub debt

+ Keyera Corp. closed $600.0 million sub debt financing

+ Nanalysis Scientific Corp. closed $5.0 million equity financing by private placement

+ Perpetual Energy Inc. closed $14.6 million sr. debt financing

+ Pinnacle Renewable Energy Inc. secured $530.0 million credit facility

+ Renoworks Software Inc. is on the market to raise $750,000.0 in equity by private placement

+ Southern Energy Corp. closed a $1.94 million equity raise by a rights offering

+ Southern Energy Corp. is on the market to raise $8.1 million in convertible debt

+ Summit Industrial Income REIT closed $149.5 million equity financing

+ WELL Health Technologies Corp. closed $10.5 million sr. unsecured convertible debt financing by private placement

~

*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 …




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ WeWork expanding to Calgary; they will open in The Edison in December (76,000 sq. ft.) and in Stephen Avenue Place (66,000 sq. ft.) in Q1/2020




 INTERESTING TRENDS IN INDUSTRIAL REAL ESTATE 


+ KingSett Capital agreed to acquire the Dream Industrial REIT’s eastern Canadian properties; 38 assets/2.8 million sq. ft. for $271.0 million




 INFRASTRUCTURE / P3  


+ Heathrow Airport planning an expansion ‘masterplan’;  £30bn project will be privately funded – new runway to open in 2026, overall project to be completed by 2050

+ Hydro One Inc. announced plans to build a new 230kV transmission line from Chatham to Leamington, ON for IESO; completion expected by end of 2025

+ Springbank Reservoir project inching forward; Alberta government has submitted 8,000 page response to federal regulator’s questions – expected to another nine months till construction starts … fingers crossed …




 CONSTRUCTION NEWS + INNOVATION 

+ City of Calgary Development Permit Notices are no longer published; access them online

+ high speed rail stations; Foster + Partners projects in Saudi Arabia

+ Montreal’s new Champlain Bridge is completed; to open by end of the month




 SAVE THE DATE / upcoming events

+  June 18; S&P Global Platts Calgary Oil & Energy Forum, Calgary Marriott Downtown, info/register

+ 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…

+ 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. 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. 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 ]



 this week in REITS 


+ Allied Properties REIT agreed to acquire two Montreal office buildings for $400.0 million

+ Automotive Properties REIT agreed to acquire a portfolio of three dealership properties from AutoCanada Inc. for $30.4 million

+ Automotive Properties REIT is on the market to raise $73.2 million in equity

+ BTB REIT closed $28.8 million equity financing

+ Choice Properties REIT closed $750.0 million sr. unsecured debt financing

+ KingSett Capital agreed to acquire the Dream Industrial REIT’s eastern Canadian properties; 38 assets/2.8 million sq. ft. for $271.0 million

+ Summit Industrial Income REIT closed $149.5 million equity financing




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Tricon Capital Group Inc. acquired Starlight U.S. Multi-Family (No.5) Core Fund’s portfolio of 23 properties/7,300 units  




 SHAREHOLDER MEETINGS

+ June 18; Eagle Energy Inc., Annual Meeting, Calgary

+ June 19; Firm Capital Mortgage Investment Corporation, Annual General Meeting, Toronto

+ June 19; Street Capital Group Inc., Annual General Meeting, Toronto

+ June 20; Cliffside Capital Ltd., Annual General Meeting, Toronto

+ June 20; Globalive Technology, Annual General and Special Meeting, Toronto

+ June 25; Pembina Pipeline Corporation, Special Meeting of Preferred Shareholders, Calgary

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

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

~

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


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