+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board with
+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020
+ playgrounds in Calgary reopened … yay!
SAVE THE DATE / upcoming events
+ Aug. 22; Fresh Start Recovery’s 12 Stop Ride For Recovery Motorcycle Road Rally; save the date
+ Sept. 22-24; BOMEX 2020, 20th Annual Building Excellence Summit, JW Marriott Parq, Vancouver; save the date
+ Sept. 29-30; Business Transitions Forum, Westin Edmonton; info/registration
+ Sept. 30; Vancouver Real Estate Forum, Vancouver Convention Centre West, Vancouver; info/register
+ Oct. 21; Alberta Real Estate Forum, Edmonton; info/register
+ Oct. 27-28; Supply Change EXPO, Stampede Park, Calgary; register
+ Oct. 29-30; Business Transitions Forum, Westin Calgary; info/registration
+ Nov. 6; 6th Annual Barney Bentall and Cariboo Express/Peter Burgener Memorial Charity Concert benefit for Classroom Champions; save the date/information
+ Reitmans reorganization unfolding; closing down Addition Elle and Thyme Maternity stores in the coming months, then shut down permanently – laying off 1,400 employees
+ Walmart is exiting the automotive service business; they have decided to close their Tire, Lube and Express business units in the their Canadian stores; 106 stores and 550 employees affected
INFRASTRUCTURE + P3
+ City of Calgary Green Line project is now projected to have a $4.9 billion capital cost; final decision expected from city council in June …
+ the planned $255.0 million University of Calgary field house project may have trouble with the high-hurdles; the City of Calgary project will not be getting any capital funding from the U of C because the university doesn’t have the need, or the money, or the capacity to pay rent – and meanwhile, the City has engaged planning consultants for the project which will require demolition of the Foothills Baseball Facility … tic toc
+ ABTraceTogether – get the APP; GOA has launched an app which, if loaded on your phone, enables contact tracing in the event you or someone you’ve been near contracts COVID-19; this is something we should all consider getting on-board with -
+ Banff National Park reopened for day-use visitors
+ Bedrock Camps Inc. entered CCAA creditor protection; BDO is court-appointed monitor
+ Bellatrix Exploration Ltd. closed its CCAA approved sale of the company’s assets to Spartan Delta Corp.
+ Canada and the United States have mutually agreed to extend the border closing for non-essential traffic for another month – now set to expire June 21, 2020
+ Canada Emergency Commercial Rent Assistance (CECRA) program for small business is now open for applications via CMHC who are administering the $40.0 billion program for Canada - for relief for April, May, and June rent; three key elements: tenants must be down 70% or more in revenue, landlords must be willing to forego 25%, the government covers 50% of gross rent – application process and details/nuances as you might expect from any government program; BLG put together a great summary of the program – check it out …
+ Cequence Energy Ltd. commenced a strategic review process; have entered court-supervised CCAA process
+ CWB Financial Group closed its acquisition of T.E. Wealth and Leon Frazer & Associates
+ Irving Oil and Silverpeak agreed to acquired North Atlantic Refining Corp., which purchase includes a 135,000 bpd refinery at Come By Chance, NL, and retail outlets
+ NortStar Capital agreed to acquire Torstar Corporation
+ Radient Technologies Inc. closed $5.75 million equity financing
+ StageZero Life Science Ltd. is on the market to raise $3.5 million in equity
+ Westport Fuel Systems Inc. secured €5.0 million debt financing
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*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 …
CONSTRUCTION NEWS + BUILDING INNOVATIONS
+ Mediagrif updated and modernized its MERX tendering system; video overview
+ WeWork and other co-working platforms run risk of failure; demand is fleeing, so the question is whether these firms can continue funding operating deficits … tic toc
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ KKR acquired an interest in Etche France; US$482.0 million controlling interest, from Group BMF
this week in REITS
+ InterRent REID is on the market to raise $200.0 million in equity
+ Northview Apartment REIT got court approval to proceed with its sale to Starlight and KingSett Capital
+ Slate Retail REIT closed its acquisition of 7 U.S. grocery-anchored properties for US$90.0 million
KUDOS
+ to A&W, McDonald’s, and Tim Hortons – teaming with GOA to distribute 20 million non-medical masks starting in early June; Becht for donating 18,000 masks
QUOTES
+ You can get the monkey off your back, but the circus never leaves town. – Anne Lamott
+ Those who have knowledge don’t predict; those who predict don’t have knowledge. – Lao Tzu
