+ 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. 28; BOMEX 2020 Virtual
+ 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
+ Lendlease and Canada Pension Plan Investment Board (CPPIB) growing their partnership in the Build-to-Rent sector in the UK; confirmed they will add £85.0 million to help fund 123 new Build-to-Rent homes at Elephant Park in south London
+ Chuck E. Cheese 550 location restaurant chain filed for Chapter 11 bankruptcy protection; the company will take a US$450.0 million charge and all retail activities and employees will move to virtual-only
+ Frank and Oak change (22 stores in Canada) heading into creditor protection; Modasuite Inc., dba Frank and Oak will seek to reorganize and refinance; KPMG is the proposed trustee
+ GNC (General Nutrition Center) filed for Chapter 11 bankruptcy protection; plan to close 800-1,200 of its 7,300 stores; 29 of its Canadian stores will close
+ Microsoft Corp. announced it will close all of its retail stores permanently
+ Nike Inc. announced it intends to open 150-299 Nike live-style stores over the next couple of years
+ Schanks for the memories; sadly, it has been reported that both locations of Schanks Sports Grill in Calgary (Macleod Trail & Crowfoot Crossing) will not-reopen; the landlord of one location negotiating but non-committal … tic toc
+ Alberta COVID-19 stats: 154 deaths, 7,354 cases so far: aggregate Alberta data - currently there are 41 Albertans are in the hospital with COVID-19, and 9 of those are in intensive care units
+ Alberta did a Stage 2 relaunch, allowing many more businesses to re-open and allowing a wider range of public gathering activities started June 12th; state of public health emergency status for Calgary, and for Alberta, now lifted
+ Alberta Enterprise Corporation receiving $175.0 million to fund venture capital to start-ups
+ 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
+ Chesapeake Energy Corp. entered Chapter 11 Bankruptcy creditor protection during a restructuring
+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices cautiously edging upward as production cutbacks and oversupply concerns continue to unsettle the market concerns about the fragility of demand … but UP is good!
+ Dialog and HOK have been selected as the design team for Calgary’s new $550.0 million arena; City of Calgary and Calgary Sports Entertainment Corp. will finance the project; CANA Construction and Mortensen Construction will handle the execution of the project expected to open in May 2024.
+ Free Rein Resources Ltd. completed its JV partnership with Nucor Environmental Solutions Ltd.
+ GOA – long-term Alberta economy reboot plan released
+ Investment Alberta is being created by the GOA; it will set up international offices and pitch Alberta to potential investors
+ Lululemon agreed to acquire in-home fitness company Mirror for $500.0 million
+ Michels Canada awarded the contract to build the Alberta portion of the Keystone XL pipeline; construction will begin near Oyen this summer and complete near Hardisty by spring 2022
+ rig counts (active/working) – U.S.: down 1 to 265 this week; Canada: down 4 to 13 this week; full breakdown
+ Toscana Energy Income Corporation agreed to an Arrangement Agreement with i3Energy plc; i3Energy will acquire all of Toscana – subject to shareholder and court approval
+ Capital Power Corporation announced it will do a $92.0 million expansion of its Whitla Wind power facility; will add 54MW to total 353 MW by late 2021; Whitlaw is 15 km. south of Bow Island in the County of Forty Mile in southern Alberta
SHAREHOLDER MEETINGS
+ Aug. 7; Bridgemarq Real Estate Services Inc., Annual Meeting of Shareholders, (virtual only)
+ Aug. 11; Optiva Inc., Annual and Special Meeting of Shareholders, Toronto
+ Bed Bath & Beyond Inc. secured US$850.0 million credit facility
+ BlueRush Inc. closed $1.2 million tranche of an unsecured convertible debt financing
+ Canadian Western Bank closed $125.0 million in sub debt financing by private placement
+ Garda World Security Corporation is on the market to raise US$120.0 million in sr. secured debt
+ Hut 8 Mining Corp. closed $8.338 million equity financing
+ Northland Power Inc. secured $465.0 million debt financing
+ Parkland Corporation closed $400.0 million sr. unsecured debt financing
+ Royal Bank of Canada is on the market to raise $1.25 billion in subordinated debt
+ Siyata Mobile Inc. closed $1.33 million unsecured convertible debt financing by private placement
+ StorageVault Canada Inc. is on the market to raise $75.0 million in sr. unsecured debt
~
*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 or non-arm’s-length transactions …
CONSTRUCTION NEWS + BUILDING INNOVATIONS
+ Boyuan Construction Group Inc. announced a ‘going private’ transaction; Mainway Management Limited, controlling shareholder, will own 100%; Mainway is controlled by Shou Cailiang
+ Dialog and HOK have been selected as the design team for Calgary’s new $550.0 million arena; City of Calgary and Calgary Sports Entertainment Corp. will finance the project; CANA Construction and Mortensen Construction will handle the execution of the project expected to open in May 2024.
+ Michels Canada awarded the contract to build the Alberta portion of the Keystone XL pipeline; construction will begin near Oyen this summer and complete near Hardisty by spring 2022
+ PCL Construction Services Inc. began construction 20MW Odom Solar Farm, located near Moultrie, Georgia for Silicon Ranch
INTERESTING TRENDS IN OFFICE REAL ESTATE ...
+ Groupe Mach acquired 282,644 sq. ft. office building in Saint-Laurent, QC for $33.7 million
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ Strategic Storage Trust IV Inc., affiliate of SmartStop Self Storage REIT Inc., opened a SmartStop® Self Storage location in East York, Toronto
this week in REITS + TRUSTS
+ Dream Industrial REIT acquired four properties; two in Germany, one in the Netherlands, and one in Montreal - $108.0 million in all
+ Strategic Storage Trust IV Inc., affiliate of SmartStop Self Storage REIT Inc., opened a SmartStop® Self Storage location in East York, Toronto
+ Capital Power Corporation announced it will do a $92.0 million expansion of its Whitla Wind power facility; will add 54MW to total 353 MW by late 2021; Whitlaw is 15 km. south of Bow Island in the County of Forty Mile in southern Alberta
+ PCL Construction Services Inc. began construction 20MW Odom Solar Farm, located near Moultrie, Georgia for Silicon Ranch
QUOTES
+ The brain is a wonderful organ; it starts working the moment you get up in the morning and does not stop until you get into the office. – Robert Frost
+ Procrastination is the bad habit of putting off until the day after tomorrow what should have been done the day before yesterday. – Napoleon Hill
KUDOS
+ to Alan Tennant, Pres. & CEO @ Calgary Real Estate Board, awarded 2020 Association Executive Network’s Award of Excellence
+ to Jarome Iginla, former Calgary Flames captain, inducted into the Hockey Hall of Fame
FACILITYCalgarynewsletters may not be reproduced, distributed, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without prior written permission. Mark Kolke, Editor/Publisher. All rights reserved. MaxComm Communications.
- this site is maintained and updated weekly - last updated May 30, 2023
