FACILITYCalgary

news, commentary & perspective - financings, deals - commercial real estate, infrastructure, oil & gas

FACILITYCalgary June28/22

CONVERSATIONS

ARCHIVED ISSUES

SIGN UP



SHAKERS AND MOVERS 
appointments and disappointments 

+ Alan Withey to Interim VP Finance & CFO @ Freehold Royalties Ltd.

+ André Hébert to Director @ Canada Mortgage and Housing Corporation

+ Carl Souchereau to Managing Dir. @ Asset Performance Canada

+ Chelsey Dawes to Acting External Relations Mgr. @ Parks Canada

+ Christopher (Chris) Davis to Sr. Legal Counsel @ Regional Municipality of Wood Buffalo

+ Danica Staudt to Sr. Policy Analyst @ Alberta Agriculture and Forestry

+ Darren Gunderson, VP Finance & CFO @ Freehold Royalties Ltd., resigned

+ Darryl Bergman to CFO @ Exchange Income Corporation

+ David Klan to Pres. & CEO @ Mazda Canada

+ David LaFehr to Director @ TransGlobe Energy Corporation

+ David Sidoo, Pres. & CEO @ EastWest Petroleum Corp., stepped down

+ David Spyker to COO @ Freehold Royalties Ltd.

+ Deeter Schurig to Gen. Mgr. @ cSPACE

+ James Darrach to CEO @ Elexicon Group Inc.

+ Jane Peverett to Director @ Capital Power

+ Joe Freedman to Designated Director @ Bridgemarq Real Estate Services Inc.

+ Joyce Murray to Pres. Treasury Board @ Government of Canada

+ Juyu Jeon to Pres. & CEO @ Mitsubishi Motors Canada

+ Lori Suba to Director, Leasing @ PBA Land & Development

+ Mark Neufeld to Chief of Police @ Calgary Police Service

+ Mark Penn to CEO @ MDC Partners Inc.

+ Matthew O’Connor to Corporate Communications Advisor @ Imperial Oil

+ Michael Wernick, Clerk of the Privy Council @ Government of Canada, stepped down

+ Nicolas Wolff to VP & GM, Boralex Europe @ Boralex Inc.

+ Norman Steinberg to Vice Chair @ BFL Canad

+ Patrick Decostre to VP & COO @ Boralex Inc.

+ Piyush Bhatnagar to Office Managing Dir., Toronto @ Accenture

+ Reid Henry, Gen. Mgr. @ cSPACE, stepped down

+ Rick Couronne to VP Bus. Dev, Western Canada @ Cape Cove Financial Management

+ Rick Manhas, COO @ Cordy Oilfield Services Inc., resigned

+ Scott White to Chairman & CEO @ Invesque Inc.

+ Steve Robitaille to Sr. VP, General Counsel & Corporate Secretary @ Bombardier Inc.

~

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




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ disengaged employees are sticking around

+ use-it-or-lose-it paternity benefits




 KUDOS 

+  to Calgarians Pat Moore and Aritha van Herk – invested in the Order of Canada




 QUOTES 

+ Success usually comes to those who are too busy to be looking for it. – Henry David Thoreau

+ Stop chasing the money and start chasing the passion. – Tony Hsieh




  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

+ 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

+ 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




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ May 21; MOC Summit Golf Tournament for MBI Canadian Foundation, Fairmont Banff Springs GC, Banff; info/register

+ June 9; 4th Annual Max Robinson Children’s Foundation, Crystal Ridge GC, Okotoks; info/register

+ 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

+ July 16; Willow Park Charity Golf Classic, Willow Park G&CC, Calgary; info/details

+ Aug. 13-15; Priddis Greens Charity Classic, Priddis Greens G& CC, Priddis; info/details

+ 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 ]




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com



current week data

this  site is refreshed with a new issue every Tuesday


updated March 19, 2019




 TODAY'S HEADLINES


HEADLINES: welcome CALDWELL | Alberta Throne Speech – election call imminent | BCIMC/RBC $7.0 billion JV | Brookfield took stake in Oaktree | Calgary getting Winter X Games | Federal Budget day today | Oxford opened Hudson Yards | Toastmasters OPEN HOUSE + 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:

A recent conversation with Mike Bodnar, Managing Principal @ Buffalo Fire Engineering Ltd.

A recent conversation with Karen Brookman, Chief Innovation Officer @ West Canadian Digital Imaging

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



 sponsors of this week's issue:

e-mail Les Gombik, Managing Partner
 
RETAINED EXECUTIVE SEARCH - for more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@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



e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE - you can help!



 BUILDING OPERATIONS NEWS + INNOVATION 

+ Traction Guest launched a new parking management tool to improve security and manage better …




 CONSTRUCTION NEWS + INNOVATION 

+ construction photo contest finalists

+ B.C. building code adjusted to allow 12-story wood buildings




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ Boralex Inc. commissioned 20MW Basse Thierache Nord wind farm in Aisne region of France

+ Titanium Corporation got $50.0 million in Federal and Alberta grand funding for the next phase of its Creating Value from Waste program




FACILITYCalgary newsletters may not be reproduced, rewritten, distributed, re-disseminated, transmitted, displayed, published or broadcast, directly or indirectly in any medium without the prior written permission of MaxComm Communications - © Copyright 1999 - 2019 MaxComm Communications. All rights reserved. Domains operated by MaxComm Communications:

http://calgaryofficespace.com
http://facilitycalgary.com

http://plandflex.com 
http://markmusing.com  




↓SIGN UP TO GET FACIILITYCalgary↓

CLICK HERE - 

FACILITYCalgary FREE




↓SIGN UP TO GET FACIILITYCalgary↓

CLICK HERE - 

FACILITYCalgary FREE




NEWS SUMMARY 
 March 12 ~ 19 


+ a warm welcome to CALDWELL, as a new FACILITYCalgary sponsor

+ Alberta Legislature – spring sitting began March 18th with a Throne Speech – budget and election call expected very soon; the Writ will drop soon, possibly as early as today!

+ BCIMC teamed up with RBC Global Asset Management Inc. and Quadreal Property Group – forming 40 building/$7.0 billion investment property portfolio; BCIMC and RBC are 50-50 partners

+ Brookfield Asset Management agreed to acquire a 62% stake in Oaktree Capital; combined venture is US$475.0 billion firm …

+ Calgary awarded Winter X Games – 3 yrs. commencing in 2020 through to 2022

+ CPPIB formed a US$3.8 billion JV with Williams to do development in the Marcellus/Utica basins

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude prices continue to tick upward as a result of OPEC production cuts

+ federal budget – comes down this evening; Finance Minister Morneau is expected to table an economy-stimulating pre-election budget touting enough goodies to distract media and critics from the SNC-Lavalin scandal as senior staff and cabinet resignations continue to dog the Prime Minister and his government  – check out the CPA’s reaction/analysis after the budget speech at

+ Horizon North Logistics Inc. agreed to acquire NRB In. (Canada) for $16.5 million

+ Imperial Oil announced it will ramp down/delay development of its Aspen oil sands project due to a lack of pipeline capacity; production to commence in 2022 will be pushed to 2023

+ Oxford Properties et al opened Hudson Yards in NYC; check out these Hudson Yards 7 years … time-lapse photos [2:45 run time], 40,000 people, five towers, one subway station …

+ PHI Hotel Group opened five hotels in Alberta including the new Holiday Inn on Blackfoot Trail; several of its ventures are JV with Siksika Resource Development

+ Precision Drilling Corporation sold five Mexico based rigs for US$48.0 million

+ rig counts - Canada: down 28 to 161 this week; click for full breakdown

+ rig counts – U.S.: down 1 to 1,026 this week; full breakdown

+ Sproule and GTI teamed up to produce

+ Toastmasters Open House – Wednesday March 20th – SPRING OPEN HOUSE at 3500 Foot Toastmasters; free, food, fun and public speaking – check it out: sign up via Event Brite




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Centric Health Corporation closed $12.0 million convertible preferred share financing by private placement

+ CGX Energy Inc. closed $29.025 million equity financing by a rights offering

+ Husky Energy is on the market to raise $750.0 million in sr. unsecured debt

+ IGM Financial Inc. is on the market to raise $250.0 million in debt

+ Lightspeed POS Inc. closed $276.0 million equity financing by IPO

+ Neovasc Inc. closed $5.0 million equity raise

+ Shawcor Ltd. secured US$500.0 million credit facility

+ Triple Five Intercontinental Group Ltd. closed $5.0 million debt financing

~

*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 …




 INFRASTRUCTURE / P3  


+ Calgary Transit opened it’s $174.0 million/44,300 sq. m. (476,841 sq. ft.) Stoney Transit Facility/bus barn facility in NE Calgary; will hold 470 CNG (compressed natural gas) buses

+ Deerfoot Trail upgrades planned by GOA; 21-km. stretch from Beddington Trail to Anderson Road will get extra lanes and interchange enhancements - $478.0 million project will commence in 2023

+ expansion/doubling size of BMO Centre at Stampede Park is a go; $166.6 million committed by Government of Canada; Government of Alberta and City of Calgary also in for $166.6 million each

+ Fiera Infrastructure and EllisDon Capital to partner on future Canadian P3 projects

+ Trudeau government committed $168.5 million toward Springbank flood mitigation ‘dam’ funding …




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Hudson Yards project (US$25.0 billion) in NYC opened to the public; check out the photos! – and have a look at this interactive/virtual tour

+ Marriott International is ambitious – they announced plans to open 1,700 new hotels by 2021 while at the same time repaying US$11.0 billion to shareholders …

+ Unibail-Rodamco-Westfield partnering with PSP and QuadReal Property Group for $1.14 billion investment in rental housing in London, UK; PSP Investments and QuadReal will each hold 37.5%




 SAVE THE DATE / upcoming events

+  Mar. 20; 2019 EPAC Awards Luncheon, Calgary Petroleum Club; info/register

+ Mar. 29; CAODC Annual Luncheon, Calgary Petroleum Club, Calgary; info/tickets

+ Apr. 4; Vancouver Real Estate Forum, Vancouver Convention Centre West; info/register

+ Apr. 3-5; Economic Developers Alberta, 2019 Annual Conference, Banff Centre, Banff; info/register

+ Apr. 9-10; ISA Calgary Show, Stampede Park, Calgary; info/book exhibit space

+ April 23; Canadian Gas Dialogues, Calgary Petroleum Club, Calgary; info/register

+ Apr. 29 – May 1; Canada’s Trends Conference, Fairmont Banff Springs, Banff; info/register

+ Apr. 30; Saskatchewan Real Estate Forum, Saskatoon; info/register

+ Apr. 30 – May 1; Partners in Prevention 2019 – Health & Safety Conference & Trade Show, The International Centre, Mississauga; info/register

+ May 8; Western Canada Apartment Investment Conference, MacEwan University, Edmonton; info/register

+ May 9; Edmonton Real Estate Forum, Edmonton Convention Centre; info/register

+ May 27-29; Williston Basin Petroleum Conference, Delta by Marriot Regina, SK; info/register

+ June 3-4; 2019 Oil Sands Innovation Summit, Hyatt Regency, Calgary; info/register

+ June 10-12; NeoCon, The Mart, Chicago; info/register

+ June 11-12; Downstream 2019, George Brown Conv. Center, Houston; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

+ 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

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information


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



 SHAREHOLDER MEETINGS

+ Mar. 20; Calgary Exhibition and Stampede Limited, Annual General Meeting of Shareholders, Calgary

+ Mar. 21; Cargojet Inc., Annual General Meeting of Shareholders, Toronto

+ Mar. 21; European Commercial REIT, Special Meeting of Unitholders, Toronto

+ Mar. 26; ZCL Composites Inc., Speech Meeting of Shareholders and Security Holders, Edmonton

+ Mar. 28; Crius Energy Trust, Special Meeting of Unitholders, Toronto

+ Apr. 4; CIBC, Annual Meeting of Shareholders, Montreal

+ Apr. 4; Royal Bank of Canada, Annual Meeting of Common Shareholders, Halifax

+ Apr. 9; The Bank of Nova Scotia, Annual Meeting of Shareholders, Toronto

+ Apr. 17; Calgary Real Estate Board, Annual General Meeting, Calgary

+ Apr. 18; Calgary Airport Authority, Annual General Meeting, Calgary

+ Apr. 26; TransAlta Corporation, Annual and Special Meeting of Shareholders, Calgary

+ Apr. 30; Canadian National Railway Company, Annual General Meeting of Shareholders, Montreal

+ May 2; Manulife Financial Corporation, Annual Meeting of Shareholders, Toronto

+ May 3; FirstService Corporation, Annual and Special Meeting of Shareholders, Toronto

+ May 3; TransCanada Corporation, Annual and Special Meeting, Calgary

+ May 7; Brookfield Real Estate Services Inc., Annual General Meeting, Toronto

+ May 8; Maxar Technologies Inc., Annual Meeting of Stockholders, Westminster, Colorado

+ May 10; TransGlobe Energy Corporation, Annual General Meeting, Calgary

~

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


© 1999-2022 published by MaxComm Communications a unit of PLANDflex Corporation

FACILITYCalgary newsletters may not be reproduced, distributed, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without prior written permission. All rights reserved. PLANDflex Corporation - http://plandflex.com