FACILITYCalgary

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

FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Alison Coville, Pres. @ Hudson’s Bay Co., stepped down

+ Brian Storseth to Director @ ParcelPal Technololgy Inc.

+ Cailee Ellis to Director, Regulatory Management @ Alberta Energy Regulator

+ Daniel Steinke, Exec. VP New Ventures & Government Affairs @ Secure Energy Services Inc., retired

+ Deborah Saucier, Pres. @ MacEwan University, resigned

+ Desiree Winters to Associate @ Whitelaw Twining Law Corporation

+ Dr. Suzanne Strasberg to Board Chair @ Canadian Medical Association

+ Earl Hauser to Project Mgr. @ Strategic Group

+ Ed Whittingham to Director @ Alberta Energy Regulator

+ Gail Harding to Member @ Alberta Securities Commission

+ Hank Van Alphen to Director @ CellCube Energy Storage Systems Inc.

+ Heather Zordel to Commissioner @ Ontario Securities Commissions

+ Joe Colangelo to Director @ Energy New Ventures

+ Kelly Hill to VP Information Technology @ Keyera

+ Kim Reinhart to Associate @ Leamy Family Law

+ Kim Wingerak to VP Operations, Western Canada @ RioCan REIT

+ Kirk Johnson to Board of Governors @ Education Matters

+ Larry Nicholson to Chairman @ Mattamy Homes

+ Leah Covey to Space Planner @ University of Alberta

+ Mary Anne De Monte-Wilson to Commissioner @ Ontario Securities Commissions

+ Mark Angus to Pres. @ Big Bore Directional Drilling Inc.

+ Matthew Bootle to Member @ Alberta Securities Commission

+ Meline Beach to Chief Communications Officer @ ICS Facility Services

+ Michael Morrissey to COO @ BSM Technologies Inc.

+ Michel Tremblay, Exec. VP & CIO @ iA Financial Group, retiring

+ Morgan Rodwell to Sr. Director, Process Technology @ Fluor Canada Ltd.

+ Neal Kerr to Sr. VP & Head of Scotia Global Asset Management in Canada @ Scotiabank

+ Nobuhiko Kitajima to Pres. & CEO @ Canon Canada Inc.

+ Paul Beesley to Trustee @ Crombie REIT

+ Peter Gilgan to Chairman & CEO @ Mattamy Asset Management Inc.

+ Rick Wise to Director @ Secure Energy Services Inc.

+ Roxanne Davis to Member @ Alberta Human Rights Commission

+ Sanjiv Samant, Head of Technology Investment Banking @ National Bank of Canada, resigned

+ Shane Smith to Supervisor, Corporate Applications @ Inter Pipeline

+ Stephanie Doll to Exec. Director @ Leighten Arts Centre

+ Stephen Diamond to CEO @ Waterfront Toronto

+ Tanuja Patel to Sr. VP Investor & Dealer Relations @ Bridging Finance Inc.

+ Trevor Goulet to Counsel @ Aviva Trial Lawyers

~

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




 MEMORIAM

+ Trevor Eyton, Officer of the Order of Canada, investor, lawyer/QC, and Director @ Brookfield Real Estate Services Inc.; 85




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ benefits fraud = Fraud

+ mastering organizational transformation




 KUDOS 

+ to Jarome Iginla – Calgary Flames retired his #12 Jersey amid a massive celebration

+ to Suncor Energy Foundation – they made a $10.0 million gift to the Banff Centre




 QUOTES 

+ Embrace uncertainty. Some of the most beautiful chapters ion our lives won’t have a title until much later. – Bob Goff

+ People may hear your words, but they feel you attitude. – John Maxwell




  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

+ 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

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday


updated March 5, 2019


 TODAY'S HEADLINES


HEADLINES: Bill C-69 angst | Calgary Council approved $1.5 billion in capital projects | Enbridge Line 3 permit hurdle | Gibson’s expansion at Hardisty | Trudeau government rocked by SNC-Lavalin scandal and Cabinet resignations + Mike Bodnar 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 Mike Bodnar, Managing Principal @ Buffalo Fire Engineering Ltd.

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

A recent conversation with Naresh Nakhid, Partner - Private Enterprise @ MNP

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



 sponsors of this week's issue:



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



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



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



e-mail Grant Robinson, Managing Director, Calgary
 
RISK & INSURANCE SOLUTIONS



CONTACT US
SALES COACHING



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



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



 SHAREHOLDER MEETINGS

+ Mar. 6; Servus Credit Union, Annual General Meeting, Edmonton

+ Mar. 15; Sun Life Financial, Annual Meeting of Common Shareholders, Toronto

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

+ Mar. 21; Cargojet Inc., Annual General Meeting of Shareholders, 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. 30; Canadian National Railway Company, Annual General Meeting of Shareholders, Montreal

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

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

~

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




 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. 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 
 February 26 ~ March 5 


+ Bill C-69 (Impact Assessment Act) continues to languish in the Senate; industry/CAPP and GOA lobbying efforts advocating for Senate originated amendments continue … tic toc

+ Calgary City Council approved $1.5 billion to fund four capital projects; including a new arena to replace the Saddledome, BMO Centre expansion, Arts Commons expansion and construction of a multi-sport fieldhouse

+ Calgary Economic Development published its 2018 in review report; link to 22 page PDF download

+ Cardinal Energy Ltd. announced its 2019 CapEx Budget is $47.0 million

+ Cooper Equipment Rentals Limited closed its acquisition of Prime Rentals Ltd.

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude prices up slightly yesterday as likely OPEC production cuts, U.S. oversupply and softening Chinese economy factors collide to maintain uncertainty for traders …

+ Enbridge Inc. Line 3 replacement project news; Minnesota issued permitting timeline, project will be delayed a year – in service by end of 2020

+ Encana Corp. announced its 2019 CapEx Budget is $2.7 billion

+ Encana Corp. confirmed it will reduce staff 15% (470 job losses in Canada & U.S.)

+ Gibson Energy Inc. announced it will construct 500,000 barrel tank expansion at its Hardisty terminal

+ Husky Energy announced its 2019 CapEx Budget is $3.3 billion

+ Mattamy Homes reorganization; new ‘parent’ company Mattamy Asset Management Incorporated will diversify investments …

+ rig counts - Canada: down 1 to 211 this week; click for full breakdown

+ rig counts – U.S.: down 9 to 1,038 this week; full breakdown

+ Silicon Valley Bank got government approval and opened for business in Canada; headquarters in Toronto

+ Trudeau government shaking: SNC-Lavalin scandal, resignations of Cabinet Ministers Jody Wilson-Raybould and Jane Philpott and testimony of Wilson-Raybould have put the future of the Liberal party and the Prime Minister in serious jeopardy …

+ Wolverine Energy and Infrastructure Inc. closed its $15.4 million acquisition of an environmental services business




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Firm Capital Property Trust is on the market to raise $15.0 million in equity by private placement

+ Gabriella’s Kitchen Inc. closed $1.3 million convertible debt & warrants financing by private placement

+ LXRandCo, Inc. closed $5.0 million equity financing by private placement

+ Marksmen Energy Inc. closed $301,500.0 tranche of a private placement equity raise

+ MRF 2019 Resource Limited Partnership closed $6.5 million tranche of an equity financing

+ Neovasc Inc. closed US$5.0 million equity financing

+ NorthWest Healthcare Properties REIT closed $143.8 million equity financing

+ Pieridae Energy Limited closed $17.9 million equity financing by private placement

+ Ridgewood Canadian Investment Grade Bond Fund closed $7.3 million equity financing

+ SQI Diagnostics Inc. closed $2.1 million tranche of an equity financing by private placement

+ Temple Hotels Inc. is on the market to raise $43.8 million in equity by a rights offering

+ 407 International Inc. closed $800.0 million sr. 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 …




 CONSTRUCTION NEWS + INNOVATION 

+ Building ’19 OF THE YEAR - FINALISTS

+ SNC-Lavalin scandal grips Ottawa and the Trudeau government




 CORPORATE RESPONSIBILITY REPORTS  


+ RBC released its 2018 Environmental, Social and Governance Performance Report and Public Accountability Statement; link to download options




 INFRASTRUCTURE / P3  


+ National Capital Commission is back to the drawing board for LeBreton lands project in Ottawa after failure of the development proponents (Eugene Melnyk and John Ruddy) were unable to resolve their dispute; the National Capital Commission has cancelled the P3 procurement process … tic toc




 INTERESTING THINGS IN RETAIL REAL ESTATE 


+ Amazon Inc. is planning to launch a new grocery store brand in the U.S. separate from the Whole Foods banner; first store to open in Los Angeles later in 2019 …

+ Gap Inc. will separate from its Old Navy unit and will shutter 230 Gap stores in a restructuring and ‘energize sales’ move

+ Tesla Inc. announced it will close its high-end showrooms in favour or selling its cars online …

+ Tim Hortons opened its first store in China; People’s Square in central Shanghai

+ Victoria’s Secret announced they will close 53 locations in North America this year …




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Anbang Insurance Group’s Bentall Centre in Vancouver is nearly a sale; several bidders reported to be near a deal

+ Hines European Value Fund acquired a 13-building portfolio of CBD office buildings in Stuttgart, German for $341.0 million

+ Oxford Properties Group is on the market to sell Edmonton City Centre (again!) and two office towers – unconfirmed reports suggest a deal is near for approx.. $300.0 million

+ Oxford Properties Group and CPPIB sold the Dynamic Funds Tower complex (650,000 sq. ft.) in downtown Toronto to a JV [Great-West Life Real Estate Fund, London Life Real Estate Fund, OPTrust and I.G. Investment Management]; terms not disclosed. GWLRA will manage the project …

+ Starlight Investments and Blackstone acquired a Toronto portfolio of eight buildings (1,067 units); terms not disclosed




 this week in REITS 


+ Firm Capital Property Trust is on the market to raise $15.0 million in equity by private placement

+ Kim Wingerak to VP Operations, Western Canada @ RioCan REIT

+ Nexus REIT closed its $31.0 million acquisition of four property (Fort St. John, Blackfalds, Medicine Hat, Estevan) single-tenant industrial properties portfolio;

+ NorthWest Healthcare Properties REIT closed $143.8 million equity financing

+ Paul Beesley to Trustee @ Crombie REIT

+ Slate Office REIT agreed to sell 25% interest in a 6-building Toronto office portfolio to Wafra Inc. for $131.8 million




 SAVE THE DATE / upcoming events

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

+ Apr. 1; 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

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

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


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

Unless otherwise noted, everything on this website is Copyright  Protected - © 1999 - 2025 - Mark Kolke, Publisher / MaxComm  Communications/Waterglass Press, units of PLANDflex Corporation, all rights reserved.


Our mailing address is: 6204B Burbank Road SE, Calgary, T2H 2C2, Canada

this site last updated May 6, 2025