+ Bill Gregson to Executive Chairman @ Cara Operations Limited

+ Brian Burke, Pres. Hockey Operations @ Calgary Flames, left the club

+ Danial Buckle to CFO @ Grande West Transportation

+ David Johnston, CEO @ Aimia Inc., left the company

+ David Weger to Director @ NAV Canada

+ Deborah Yedlin to Chancellor @ University of Calgary

+ Doug Wylie to Auditor General @ Government of Alberta

+ Douglas Currie to VP Government Relations @ Nelson

+ Eric Williams, VP Finance & CFO @ Reitmans (Canada) Limited, retiring

+ Frank Hennessey to CEO @ Cara Operations Limited

+ Grant Vogeli to Partner @ Lawson Lundell LLP

+ Johann Olav Koss to Pres. & CEO @ Waratah Capital Advisors Ltd.

+ Kirk Bacon, Deputy Executive Director @ Real Estate Council of Alberta (RECA), retiring

+ Larry Nicholson to Director @ Mattamy Homes Limited

+ Ralph Huizinga, VP Acquisitions & Development, Western Canada @ First Capital Realty, retired

+ Richard Wait to VP Finance & CFO @ Reitmans (Canada) Limited

+ Rick McCombie, Exec. VP & Chief Client Officers @ The Co-operators, retiring

+ Scot Caithness to Pres. @ SME-5G Inc.

+ Wang Dongjin to Non-Exec. Director @ CNOOC Limited

+ Wu Guangqui, Non-Exec. Director @ CNOOC Limited, retired

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

+ Don Wilson, former Pres. @ Genstar Homes, founder of Urbco (now Northview REIT); 84

+ Pat O’Connor, restauranteur founder of Canadian Rocky Mountain Resorts;

+ Ron Hayter, long time Edmonton City Councilor, baseball aficionado extraordinaire; 81

+ 2018 employment trends: the demand for skilled talent

+ Aeroports de Montreal unveiled a $2.5 billion 12 yr. expansion plan for the Trudeau Airport

+ Greengate Power Corporation announced plans for $1.0 billion in clean energy projects in Alberta

+ Olds College is getting $7.8 million for the Notley government for upgrades

+ LNG Canada’s export facility planned for Kitimat – chose contractors; Fluor and JGC Corp. will be JV contractors for EPC for the estimated $4.7 billion project

+ Ottawa Public Library – 5 architectural firms shortlisted

+ Example is not the main thing in influencing others. It is the only thing. – Albert Schweitzer

+ Feeling gratitude and not expressing it is like wrapping a present and not giving it. – William Arthur Ward

+ Gap Inc. announced they will open ‘70’ net new stores over next three years for its brands – including 60 new Old Navy stores by end of 2018

+ GNC announced it will shutter 200 under-performing stores in the U.S and Canada in 2018 – they currently operate 8,000 locations worldwide

+ Rexall will shutter 40 stores in Canada this year

+ Roots Canada announced they are expanding to the U.S.; first two locations opening in August in Washington, DC

+ 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

+ 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

+ 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

FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning

updated May 1, 2018

HEADLINES: crude steady/US$68/bbl | Keylink open | Newalta/Tervita merger OK’d | Toys “R” Us Canada sold + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress

+ City Council committee will oversee the $30.0 million bid process and plebiscite to secure support (or not) from Calgarians

+ some council members are discussing re-opening discussions with Calgary Flames for a new arena to replace the aging Saddledome … tic toc

+ Morguard Corporation published its 2017 Sustainability Report

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

+ July 5; 16^th Annual Coast Hotels-Shuhachi Naito Golf Classic, Tsawwassen Springs, Delta, BC; info/register

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+ Calgary to be host city for 2019 (107^th) Grey Cup; check out a great video

+ current energy prices – live link to current Bloomberg energy prices; WTI crude continuing steady in the US$60/bbl range – concerns over Iran sanctions, Venezuelan volatility; OPEC/Saudi’s staying true to commitments, but one has to wonder if the Saudi cutbacks in support of price are connected to the SaudiAramco IPO coming up … tic toc

+ FDF Branz (Ricky’s Group) agreed to acquire Famosa Neapolitan Pizzeria chain; terms not disclosed

+ Keyera Corp. announced their $147.0 million Keylink NGL gathering pipeline system is completed and now in service

+ Kontrol Energy Corp. closed its $1.0 million acquisition of MCW Dimax Ltd.

+ McIntosh Perry acquired Luiz Leon & Associates Ltd.; terms not disclosed

+ Newalta Corporation and Tervita Corporation got shareholder approval for their combination;

+ PSAC reduced its 2018 drilling activity forecast to 7,400 wells, down 6% from their earlier forecast of 7,900

+ rig counts: down 8 to 85 since last week; overview

+ Toys “R” Us and Babies “R” Us (Canada) got court approval for its $300.0 million sale to Fairfax Financial

+ U.S. rig counts: up 8 this week over last; up 151 over last year – full breakdown

+ U.S. steel tariffs against Canada, Medico and EU held in abeyance until June 1 … tic toc

+ Africa Energy Corp. closed US$45.0 million equity financing by private placement

+ Algonquin Power & Utilities Corp. closed $445.0 million equity financing

+ Clarocity Corporation secured $3.85 million credit facility

+ CNOOC Limited is on the market to raise US$1,45 billion in long term debt

+ Gensource Potash Corporation is on the market to raise $3.0 million in equity by private placement

+ Grasshopper Solar closed $270.0 million sr. debt financing

+ Inovalis REIT is on the market to raise $22.0 million in equity

+ Marksmen Energy Inc. closed a final $300,600.0 tranche of a private placement equity financing

+ MG Capital Corporation closed $250,000.0 IPO

+ MRF 2018 Resource Limited Partnership raised $25.0 million equity financing

+ Wellness Lifestyles Inc. closed $7.315 million equity financing by private placement

+ American Hotel Income Properties REIT LP transferred management of hotel management responsibilities to Aimbridge Hospitality

+ CREIT and Choice Properties REIT got court and regulatory approval for their merger; closing set for May 4/18

+ Inovalis REIT is on the market to raise $22.0 million in equity

+ Amazon is renovating the old Vancouver post office property; full city block project, 686,000 sq. ft. structure as part of its expansion there – Amazon will add 3,000 staff in Vancouver

+ Chartwell Retirement Residences closed is $297.9 million acquisition of four retirement communities in Edmonton

+ Dream Unlimited Corp, Dream Hard Asset Alternatives Trust, Kilmer Van Nostrand Co. Limited, Tricon Capital Group Inc. and Tricon Lifestyle Rentals formed a JV to develop 1,50000 rental units on ‘West Don Lands’ in Toronto; 99 yr. land lease from Infrastructure Ontario

+ MasterBUILT Hotels are expanding – planning 17 Microtel Inn and Suites locations across Canada; expecting to start 8-10 this year …

+ Timbercreek Asset Management agreed to acquire $1.0 billion portfolio of assets (4,500 res. Units, 3.0 million sq. ft. of commercial space) from the Wynn Group of Companies