FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

CONVERSATIONS

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Abrie Cilliers to Estimator @ Graham

+ Alissa Liotti to Sr. Account Exec. @ Ketchum

+ Carol Leaman to Director @ Coril Holdings Ltd.

+ Chantal Schutz to Exec. VP & CFO @ Universal mCloud Corp.

+ Dick Lau to COO @ Wood Automotive Group

+ James Harbilas to Exec. VP & CFO @ AltaGas Ltd.

+ Jane Gavan to Director @ PrairieSky Royalty Ltd.

+ Jerrica Goodwin to Press Secretary, Treasury Board & Finance @ Government of Alberta

+ John Delacourt to VP & Group Leader, Ottawa @ Hill+Knowlton

+ Marc Kok to Director @ VanadiumCorp. Resource Inc.

+ Mark Neufeld to Chief @ Calgary Police Service

+ Merwan Saher, Legislature Clerk @ Alberta Legislature, fired

+ Michael Harbinson to CFO @ Boston Pizza Royalties Income Fund

+ Nathan Cooper to Speaker @ Alberta Legislature

+ Oliver Harrison to Sr, VP Operations @ RioCan

+ Philip Homan to Director @ Coril Holdings Ltd.

+ Ren Shu, Corporate Secretary @ Boyuan Construction Group Inc., resigned

+ Samantha Taylor to Chief Marketing Officer @ Indigo Books & Music Inc.

+ Steve Beales to Mgr.. Tenant Improvements @ SMP Engineering

+ Stuart Pasternak to CFO @ GreenSpace Brands Inc.

+ Tang Wei to Corporate Secretary @ Boyuan Construction Group Inc.

~

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




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ grappling with cannabis use – workplace feedback

+ what millennials and Gen Zs want




 QUOTES 

+ Every time you express gratitude or compassion for any aspect of yourself or someone else, you breathe life in. – Mariah Fenton Gladis

+ Kindness is seeing the best in others when they cannot see it in themselves. - unknown




  KUDOS  

+ to those selected as first Honourary Degree recipients at Mount Royal University; Don Braid, Marg Southern, Ann McCaig, Dawn Farrell and former Governor-General David Johnston




 INFRASTRUCTURE / P3  


+ Calgary Municipal Land Corporation selected a three-firm team to design Stantec, S2 Architecture and Populous to design the expansion to the BMO Centre at Stampede Park

+ Canadian Utilities Ltd. agreed to sell its Canadian fossil fuel based electricity generation portfolio (2,100MW) to Heartland Generation Ltd. for $835.0 million

+ CTrain station renovation; $60.0 million project to renovate Stampede Station will go ahead

+ Innergex Renewable Energy Inc., Pituvik Landholding Company and Hydro-Quebec announced a new project; 7.5MW, $125.0 million run-of-river generating station to be built in the Inukjuak River

+ Innergex Renewable Energy Inc. closed the sale of its Icelandic assets to Magma Energy Sweden A.B. for US$299.9 million

+ Tsuut’ina first nation opened its Seven Chiefs Sportsplex & Chief Starlight Centre – 228,000 sq. ft. facility




  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

+ FEED – front-end engineering and design

+ 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

+ ROFR – right of first refusal

+ 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




current week data

this  site is refreshed with a new issue every Tuesday


updated May 28, 2019




 TODAY'S HEADLINES


HEADLINES: Alberta Throne Speech | ATCO/Can Utilities $835 million sale | BMO Centre expansion design team selected | Carbon Capture milestone for Shell | TransMountain expansion got a favourable ruling by BC Appeal Court | 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 Shannon Bowen-Smed, CEO @ Bowen Group

A recent conversation with Carol Kitchen, Pres. & CEO @ UFA (United Farmers of Alberta)

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



 sponsors of this week's issue:

e-mail Lance Laliberte - Sales at PREMIERE OFFICE FURNITURE
 
NEW AND USED OFFICE FURNITURE



e-mail Elaine Evans
 
FURNISHED EXECUTIVE RENTAL SUITES



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
SUPPORTING VISION PROJECTS WORLDWIDE



RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



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



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



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



 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ June 7; 4th Annual Jann Arden Charity Tournament, Silvertip Resort, Canmore; info/registration

+ 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

+ June 24; Special Olympics Calgary – 20th Annual Golf Classic; save the date / details coming soon

+ July 11; 17th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

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

+ Aug. 1; SAIT Centennial Golf Classic, Priddis Greens, Priddis; info/details

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

+ Aug. 15; CHAS (Children;s Hospital Aid Society) 37th Golf Classic, Silver Springs Golf Club, Calgary; info/registration

+ 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 ]




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NEWS SUMMARY 
 May 21 ~ 28 


+ Alberta government watch: 30th legislature sitting began, Alberta Throne Speech, BC court action on restricting bitumen lost 5-0 at BC Court of Appeal – next stop Supreme Court of Canada; Kenney government introduced a bill to repeal the carbon tax, talking about reducing the minimum wage and plans to exit the Notley government oil-by-rail contracts (but short on details as to how they will off load that plan); federal Bill C-49 being scrapped (YAY!), Kenney says he can live with amended Bill C-48 … tic toc

+ Brookfield Real Estate Services Inc. completed its rebranding; now known as Bridgemarq Real Estate Services Inc.

+ Calgary Stampede watch: city council approved a new ‘temporary’ location for the Cowboys big tent; former Enoch Sales house site, between 11th and 12th Ave SE

+ Canadian Utilities Ltd. agreed to sell its Canadian fossil fuel based electricity generation portfolio (2,100MW) to Heartland Generation Ltd. for $835.0 million

+ Carbon Copy Digital rebranding as Carbon Graphics Group

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices softened on stockpile concerns

+ Energy Visions 2019 – published by PricewaterhouseCoopers Canada

+ Federated Co-operatives Limited agreed to acquire Terra Grain Fuels 150.0 million-litre/year ethanol plant in Belle Plaine, SK;

+ Mattamy Homes launched Mattamy Asset Management

+ OCR Canada Ltd. acquired Multisource Group Corporation; terms not disclosed

+ Shell Canada’s Quest carbon capture and storage facility in Fort Saskatchewan – milestone event; four million tonnes of CO2 captures so far ...

+ rig activity in Canada

+ rig counts – U.S.: down 4 to 983 this week; Canada: up 15 to 78 this week; full breakdown

+ YOU CAN’T MAKE THIS STUFF UP DEPARTMENT:  Green Party Elizabeth May advocating a ban on oil imports in favour of Alberta oil … who knew?




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AcuityAds Holdings Inc. closed $9.2 million equity financing

+ CIBC is on the market to raise $250.0 million by a preferred share issue

+ Genworth MI Canada Inc. closed $100.0 million debt financing

+ Premium Brands Holdings Corporation closed $200.0 million equity financing by private placement

+ Premium Brands Holdings Corporation closed $60.0 million equity financing by private placement

+ Southern Energy Corp. is on the market to raise $8.0 million in convertible deb

+ Toronto-Dominion Bank is on the market to raise $450.0 million by a preferred share issue

~

*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 …




 INTERESTING TRENDS IN RETAIL 


+ MTY Food Group Inc. (7,400 locations) completed its acquisition of Papa Murphy’s Holdings Inc.(1,400 franchised and corporate stores; terms not disclosed

+ Roots opened a new ‘Cabin-meets-city concept store’ on Chicago’s Michigan Avenue (the Magnificent Mile); a two-floor, 11,448 sq. ft. ‘Experience Store’




 SAVE THE DATE / upcoming events

+ 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 4-6; 2019 OpEx, Hyatt Regency, Calgary; info/register

+ June 4-6; Western Manufacturing Technology Show, Edmonton Expo Centre; info/registration

+ June 5-7; Alberta Innovates, Inventure$ 2019, Calgary Telus Convention Centre; info/tickets

+ June 8; 2019 Alberta Literary Awards and Gala, Coast Edmonton Plaza Hotel, Edmonton; info/tickets

+ June 10; Canadian Global Exploration Forum, 2019 Annual Conference, The Hudson, 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

+ June 18; S&P Global Platts Calgary Oil & Energy Forum, Calgary Marriott Downtown, info/register

+ July 5 – 14; Calgary Stampede, Stampede Park; info/tickets

+ July 12; Oxford STOMP, Shaw Millennium Park; info/tickets available April 18th…

+ 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

+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets

+ Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

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


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



 this week in REITS 


+ Crombie REIT agreed to sell an 89% interest in a 15-property portfolio to Oak Street Real Estate Capital, LLC for $193.3 million

+ Oliver Harrison to Sr. VP Operations @ RioCan




 SHAREHOLDER MEETINGS

+ May 28; VIA Rail Canada, Annual Public Meeting, Montreal

+ May 30; Fiera Capital Corporation, Annual General & Special Meeting, Montreal

+ June 4; Strad Energy Services Ltd.

+ June 7; Skylon Growth & Income Trust, Special Meeting of Unitholders, Toronto

+ June 13; Africa Energy Corp., Annual General and Special Meeting, Vancouver

+ June 13; Cap REIT, Annual Unitholders Meeting, Toronto

+ June 13; Dollarama, Annual Meeting of Shareholders, Montreal

+ June 18; Eagle Energy Inc., Annual Meeting, Calgary

+ June 19; Street Capital Group Inc., Annual General Meeting, Toronto

+ June 20; Cliffside Capital Ltd., Annual General Meeting, Toronto

+ June 20; Globalive Technology, Annual General and Special Meeting, Toronto

+ July 11; Emera Inc., Special Meeting of Shareholders, Halifax

~

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




 CONSTRUCTION NEWS + INNOVATION 

+ cross-Canada energy construction corridor idea is getting some pre-election press; don’t hold your breath

+ Terrace, BC $447.5 million hospital project going ahead; contractor not yet selected – occupancy of new build in 2024

+ Bjarke Ingels interview




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Invesque agreed to Commonwealth Senior Living LLC for US$340.4 million

+ Holloway Lodging Corp. acquired three vacant office properties (198,257 sq. ft., 147,135 sq. ft., 87,611 sq. ft. with 1,100 stalls of parking) with near Bush International Airport in Houston for US$13.2 million; sounds like real estate by the pound … repositioning is their plan




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this site last updated May 6, 2025