FACILITYCalgary

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

FACILITYCalgary June10/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Aslam Kassam to Project Mgr. @ Lemay + Toker

+ David Swann, MLA for Calgary-Mountain View and former Alberta Liberal Party, retiring

+ Dennis Mitchell to CEO & CIO @ Starlight Capital

+ Harvey Gamble, CEO @ Real Estate Insurance Exchange (REIX), retiring

+ James Chapman to Project Mgr. @ WATT Consulting Group

+ Jessica McDonald to Interim Pres. & CEO @ Canada Post

+ Jon Gray to Pres. & COO @ Blackstone Group LP

+ Kevin Andrade to COO @ Pond Technologies Holdings Inc.

+ Lis Wigmore to Director @ Invesque Inc.

+ Mike Pedersen to Chair @ Business Development Bank of Canada

+ Owen Cartwright, VP Healthcare Investment Banking @ Brookfield Financial, left the company

+ Randy Jespersen to Exec. Chairman, Pipeline @ Steelhead LNG

+ Ryan Povey to Director, Development Accounting @ Shape Properties Corp.

+ Sunny Joseph to General Mgr. @ Fairmont Palliser Hotel


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




 MEMORIAM

+ Bill Dickson, former Pres. of Alberta Real Estate Association and Canadian Real Estate Association, 88

+ Mary LeMessurier, former Alberta Minister of Culture, 88




 KUDOS 

+ to Chief Jim Boucher and the Fort McKay First Nation and Fort McKay Group of Companies – recipient of 2018 Canadian Council for Aboriginal Business Award

+ to Mainstreet Equity’s founder and CEO Bob Dhillon – he made a $10.0 million donation to the University of Lethbridge; largest donation in the university’s history; the business school has been renamed The Dhillon School of Business in his honour!




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ when can HR legally snoop on an employee?




 QUOTES 

+ The great difference between voyages rests not in ships but in the people you meet on them. – Amelia Burr

+ It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. – Lucius Annaeus Seneca




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ 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

+ 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

+ 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




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this  site is refreshed with a new issue every Tuesday morning


updated March 20, 2018




 TODAY'S HEADLINES


HEADLINES: Cenovus looking for Narrows Lake partner | Cervus sells four dealerships | City OK’s $100.0 million investment fund | Gibson’s selling U.S. business units | Marquee on the market | MNP new sponsor of FACILITYCalgary | Statoil name change + Mike O’Connor interview  + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings




CONVERSATIONS

This week's conversation with Mike O'Connor, 'bucket list adventurer' and founder, Pres. & CEO of O'Connor Associates Environmental Inc.

A recent conversation with Lance Laliberte, VP Office Furniture @ Premiere Office Furniture

A recent conversation with Pam Heard, Executive Director @ the Prostate Cancer Centre

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



 sponsors of this week's issue:

click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



e-mail Norm Landry
 
PROJECT MANAGEMENT



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



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



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 SAVE THE DATE / upcoming events

+ Mar. 21-23; Economic Developers of Alberta; Annual Conference, Banff Centre, Banff; info/register

+ Mar. 21; EPAC Awards Luncheon, Calgary Petroleum Club, info/tickets

+ Mar. 22; Alberta Budget 2018 Speech, Alberta Legislature, Edmonton; click here to get livestream link

+ April 11; Calgary Chamber of Voluntary Organizations, Connections Conference 2018; Ross Glen Hall, Mount Royal University, Calgary; info/register

+ May 10; Kananaskis Golf Courses re-opening day; bookings online starting Mar. 14; res # 1-877-591-2525

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register , registration now open

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register


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



 CHARITY GOLF TOURNAMENTS 

+ June 21; 57th Annual CSPG Classic Golf Tournament, Elbow Springs Golf Club, Calgary; info/register


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



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NEWS SUMMARY 
 March 13 ~ 20 


+ Cenovus Energy Inc. is reported to be on the market (advisors have been engaged) to find a JV partner to invest $1.3 billion in supporting infrastructure for its Narrows Lake oil sands project

+ Cervus Equipment Corp. completed the sale of its construction dealership (Calgary, Red Deer, Edmonton and Fort McMurray) group; terms not disclosed

+ City of Calgary’s Economic Development Investment Fund for $100.0 million approved by council; Councilor Jeff Davison is on the board while the Mayor is ex-officio; objectives of the fund are to attract businesses to Calgary to, among other things, impact office vacancy rates … tic toc

+ current energy prices – live link to current Bloomberg energy prices; crude prices recovering from last week’s down-bump as increased demand lags rising supply

+ Encana Corp. CEO Doug Suttles is moving to Denver; no plans to move headquarters to Denver … tic toc

+ Gibson Energy Inc. agreed in two separate transactions to divest its U.S. energy services businesses for US$96.0 million

+ Marquee Energy Ltd. commenced a ‘strategic alternatives’ process; advisors have been hired

+ MNP - FACILITYCalgary welcomes our newest sponsor, MNP

+ rig counts: down 54 to 219 this week; full breakdown

+ Statoil announced it will rename/rebrand itself as Equinor

+ Sunnyside Greenhouses in Bowness announced they will close at the end of this summer after 100 years in business; property to be redeveloped … tic toc

+ U.S. rig counts: up 6 to 990 last week; overview & summary




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Canadian Apartment REIT closed $172.6 million equity financing

+ Chorus Aviation Inc. closed $100.0 million equity financing




 this week in REITS 


+ Blackstone REIT grew by 22.0 million sq. ft. with a US$1.8 billion acquisition of a 146 building Canyon Industrial portfolio from Cabot Industrial Value Fund IV LP

+ Canadian Apartment REIT closed $172.6 million equity financing

+ Inovalis REIT announced it will internalize property management of its assets




 INFRASTRUCTURE / P3  


+ Vancouver-Seattle-Portland high-speed rail project got a push; B.C. government contributing $300,000.0 to the business case study along with the State of Washington




 CONSTRUCTION NEWS + INNOVATION 

+ Alberta government gave out Awards for Transportation Innovation

+ coolest ‘rest stop’ you’ve ever seen in Norway …

+  SNC-Lavalin’s Sound Transit JV (South County Transit Partners – Mott MacDonald and SNC-Lavalin) awarded a $1.0 billion contract for the design-build project management of the Federal Way Link Extension in the Seattle area; covers preconstruction up to award of design-build contract




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Brookfield Properties sold a 50% interest in its Bay-Adelaide Centre project for $850.0 million to Dadco Investments Ltd., a UK firm

+ Claridge Homes announced plans to build five mixed-use towers (25-45 storeys) at the east end of LeBreton Flats in Ottawa

+ Starlight U.S. Multi-Family (No. 5) Core Fund sold 216 unit project in Dallas for US$32.6 million

+ Xenia Hotels & Resorts sold its leasehold interest in the Aston Waikiki Beach Hotel (693 doors) in Honolulu for US$183.0 million




 INTERESTING THINGS IN RETAIL 


+ Claire’s Stores Inc. filed for bankruptcy; restructuring $1.9 billion in debt

+ MTY Food Group Inc. completed its acquisition of Grabbagreen (27 stores) for US$2.675 million

+ Nordstrom’s is expanding their Nordstrom Rack concept to Canada; first store opens this week in Vaughan Mills; five more planned (Deerfoot Meadows in Calgary, South Edmonton Common will be the only Canadian units outside of Ontario)

+ Toys ‘R’ Us in the U.S. closing up shop as Chapter 11 Bankruptcy process has not resulted in a finance worthy restructuring; Canadian division, Toys “R” Us (Canada) Ltd. (82 stores) staying open for now – looking for a buyer




 SHAREHOLDER MEETINGS

+ Mar. 23; Pure Industrial REIT, Special Meeting of Unitholders, Vancouver

+ Mar. 24; Emera Inc., Annual Shareholders Meeting, Toronto

+ Apr. 5; CIBC, Annual Meeting of Shareholders, Halifax

+ Apr. 5; BMO Financial Group, Annual Meeting of Shareholders, Toronto

+ Apr. 6; Royal Bank of Canada, Annual Meeting of Common Shareholders, Toronto

+ Apr. 10; Bank of Nova Scotia, Annual Meeting of Shareholders, Toronto

+ Apr. 12; Cargojet Inc., Annual General and Special Meeting of Shareholders, Toronto

+ Apr. 18; Calgary Real Estate Board, Annual General Meeting, CREB Head Office, Manning Road, Calgary

+ Apr. 19; Calgary Airport Authority, Annual General Meeting, Calgary Airport Marriott

+ Apr. 30; National Bank of Canada, Annual Meeting, Drummondville, QB

+ May 3; Manulife Financial Corporation, Annual Meeting of Shareholders, Toronto

+ May 8; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 10; Big Rock Brewery Inc., Annual Meeting of Shareholders, Calgary

+ May 10; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, Calgary

+ May 15; Intermap Technologies Corporation, Annual Shareholders Meeting, Calgary


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



 CALGARY OLYMPICS 2026 BID WATCH 


+ Calgary Bid Committee is asking City Council for $2.5 million for further work on a 2026 Winter Olympics Bid; involves forming a bid corporation to pursue hosting the 2026 Olympic and Paralympic Winter Games; the request also contemplates a $30.0 million bid budget - $10.5 million from Ottawa, $10.0 million from Alberta and the balance from the city. The release of information has caused ripples at City Council because the report was released before Council had received it or debated it and ‘no commitment has been received yet from Ottawa or Edmonton’

+ International Olympic Committee deadline for receiving expressions of interest from cities planning to bid … tic toc


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this site last updated June 10, 2025