FACILITYCalgary

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

FACILITYCalgary May 27/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Andrew Scheer to Leader @ Conservative Party of Canada

+ Ann McCaif, Chair @ Calgary Health Trust, stepped down

+ Bill Sembo to Chair @ Calgary Health Trust

+ Charles Duncan to Pres. @ WestJet Encore

+ Chris Marlyn to Sr. Managing Dir., Valuation & Advisory Group, Western Canada @ CBRE Canada

+ Darryl White to Director @ Bank of Montreal

+ Dave Routledge to Vice Chair @ Calgary Health Trust

+ David Mitchell to Pres. & CEO @ Calgary Chamber of Voluntary Organizations

+ Donald Guloien, Pres. & CEO @ Manulife Financial Corporation, stepping down

+ Donna Stratton to Career & Employment Consultant @ Government of Alberta

+ George Jones, Director @ Troy Energy Corp., resigned

+ James Oosterbaan to Member @ Alberta Securities Commission

+ James Owen, Pres. @ Troy Energy Corp., stepped down

+ Karen Kim to Member @ Alberta Securities Commission

+ Lesley Conway to Vice Chair @ Calgary Health Trust

+ Lisa Mueller to VP New Ventures @ Razor Energy Corp.

+ Louise Gallagher to Director, Communications and Stakeholder Relations @ Inn from the Cold

+ Mark Schweitzer to VP Finance & CFOR @ Perpetual Energy Inc.

+ Martin Scholz to CEO @ ROI Land Investments Ltd.

+ Paul Conroy, Director @ Troy Energy Corp., resigned

+ Rick Wingate to Pres. & Director @ Troy Energy Corp.

+ Roy Gori to CEO & Director @ Manulife Financial Corporation

+ Sandy Edmonstone to Vice Chair @ Calgary Health Trust

+ Stephane Boivin to COO & Director @ ROI Land Investments Ltd.

+ Tom Farley to Director @ Slate Office REIT

+ Trudy Curran to Member @ Alberta Securities Commission


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




 HUMAN RESOURCE + WORKPLACE TRENDS 


+ Employee loyalty trends – a Silicon Valley story worth reading




 SAVE THE DATE / upcoming events


+ June 5; World Environment Day - time to save the planet

+ June 5 - 7; Operational Excellence Conference, BMO Centre, Calgary; info/register

+ June 13 - 15/2017; Global Petroleum Show, Stampede Park, Calgary; info/save the date

+ June 17; Breakfast on the Bridge, Peace Bridge @ 5AM, Calgary, info/tickets - call 403-410-2320 ext. 3591 or visit calgarymfrc.ca

+ Sept. 12-13/2017; Oil Sands Trade Show & Conference, Suncor Community Leisure Centre, Fort McMurray; info/registration

+ Sept. 17-20; 2018 Gastech Exhibition & Conference, Gran Via Venue, Barcelona, Spain; info/register

+ Sept. 27; BOMEX 2017 - Canada's Building Excellence Summit, Conference, Trade Show and Awards Gala; Toronto; info/register

+ Oct. 16-24/2017; World Design Summit, ‘UNESCO City of Design’, Montreal


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



  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ 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

+ 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 30, 2017




 TODAY'S HEADLINES


HEADLINES: Alberta credit downgrade | Aspen lease with RocketSpace | B.C. gov’t turmoil | BrightPath takeover | Husky going ahead on $2.2 billion West White Rose | Kinder Morgan IPO | Trilogy sale + upcoming events, appointments, oil sands/heavy oil + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

A recent conversation with Anthony Sanni, speaker/educator

A recent conversation with Shawna Wagner of TalentSphere Staffing Solutions

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



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 sponsors of this week's issue:

e-mail to Sharon Martens
 
INTERIOR DESIGN



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



CONTACT DAWSCO
 
COFFEE SERVICES



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



 CHARITY + INDUSTRY GOLF TOURNAMENTS 

+ May 30; 15th Anual Double Your Impact Calgary Tournament/Opportunity International; Springbank Links Golf Club, Calgary; info/register

+ June 19; Veteran's Food Bank, 9th Annual Golf Tournament, Pinebrook Golf and Country Club, Calgary; info/registration

+ June 22; 56th Annual, CSPG Golf Tournament, Elbow Springs Golf Club, Calgary; info/register

+ July 6; 15th Annual Coast Hotels Shuhachi Naito Golf Classic, Tsawwassen Springs Golf Club, Delta, BC; info/register

+ Sept. 7; Calgary Dream Centre 9th Annual Chairty Golf Classic, Heritage Pointe Golf Club, De Winton; info/register


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



 SHAREHOLDER MEETINGS

+ May 31; Canyon Services Group Inc., Shareholder Meeting – approve merger, Calgary

+ May 31; Trican Well Service Ltd., Shareholder Meeting – approve merger, Calgary

+ May 31; PRO REIT, Annual Meeting of Unitholders, Halifax

+ June 8; Workers’ Compensarion Board, Annual General Meeting, Edmonton

+ June 12; Granite REIT, Annual Meeting, Toronto

+ June 14; K-Bro Linen Inc., Annual General Meeting, Toronto

+ June 15; Granite REIT, Annual Meeting of Unitholders, Toronto

+ June 15; Granite REIT Inc., Annual Meeting of Shareholder, Toronto

+ June 19; H&R REIT, Annual Meeting, Toronto

+ June 19; H&R Finance Trust, Annual Meeting, Toronto

+ June 22; Northern Blizzard Resources Inc., Annual and Special Meeting of Shareholders, Calgary

+ June 26; Penn West Petroleum Ltd., Annual and Special Meeting, Calgary

+ June 27; Eagle Energy Inc., Annual Meeting, Calgary

+ June 27; Sunshine Oilsands Ltd., Annual Meeting of Shareholder, Hong Kong

+ June 28; GrowMax Resources Corp., Annual and Special Meeting, Calgary


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



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NEWS SUMMARY 
 May 23 ~ 30 


+ Alberta’s credit rating downgraded by Standard & Poor’s to A+ - which is still really strong compared to other jurisdictions and shows recognition that, though things have been difficult here, credit markets still view Alberta favourably

+ Aspen Properties secured a unique tenant for its ‘150-9 Ave. SW’ building (formerly EnCana Place); 75,000 sq. ft. being take by RocketSpace, as a technology campus incubator/accelerator; touted by Calgary Economic Development as a way to lure tech startups – but it sounds more like a business centre for the pocket-protector set … tic toc

+ Bank of Canada maintained its overnight target rate of ½ pf 1%; U.S. Federal Reserve holding steady too but markets are jittery …

+ B.C. government tremors; Green Party and NDP have reached deal that will give them more seats than Premier Clark’s Liberals; expect a resignation and a new NDP Premier … tic toc; this does not bode well for the B.C. economy, energy projects and will likely depress the Vancouver real estate market/bubble …

+ BrightPath Early Learning Inc. agreed to $145.0 million conditional friendly takeover bid  from Busy Bees Holdings Limited

+ Crew Energy Inc. closed its $49.0 million disposition of NE British Columbia assets

+ current energy prices – live link to current Bloomberg energy prices; crude prices softened again this week as U.S. drillers accelerate activity, Trump administration floated ideas about selling off part of the U.S. strategic petroleum reserve and ongoing concerns about OPEC solidarity …

+ Husky Energy going ahead with its $2.2 billion West White Rose project offshore Newfoundland

+ Penn West Petroleum Ltd.; poised for name change to Obsidian Energy Ltd.

+ Point Loma Resources Ltd. closed the sale of its JV interest in Transerv Energy Ltd.

+ Razor Energy Corp. closed $9.6 million acquisition of west central Alberta light oil assets

+ rig counts – up 8 to 93 this week

+ Startup Calgary has moved under the Calgary Economic Development umbrella

+ Trilogy Energy Corp. agreed to sell a portfolio of Duvernay/Kaybob area assets for $60.0 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Bank of Montreal is on the market to raise $850.0 million by a subordinated debt offering

+ Canadian Natural Resources Limited is on the market to raise $1.8 billion in unsecured debt

+ Canadian Natural Resources Limited is on the market to raise US$3.0 billion in unsecured debt

+ Canadian Overseas Petroleum Ltd. is on the market to raise £ 3.25 million in equity

+ Chartwell Retirement Residences secured $300.0 million in new credit facilities

+ CIBC is on the market to raise $800.0 million by a preferred share issue

+ Delphi Energy Corp. secured $35.0 million by an equity financing

+ Delphi Energy Corp. secured $30.0 sr. secured debt financing

+ Distinct Infrastructure Group Inc. closed $35.0 million debt financing

+ Firm Capital American Realty Partners Corp. closed US$6.3 million equity financing

+ Georox Resources Inc. is on the market to raise $450,000.0 in equity by private placement

+ Great-West Lifeco Inc. closed US$700.0 million in sr. unsecured debt financing

+ Ikkuma Resources Corp. closed $45.0 million debt & warrants financing

+ Intact Financial Corporation closed $150.0 million preferred share issue

+ Kinder Morgan Canada is on the market to raise $1.75 billion by an IPO

+ Oncolytics Biotech Inc. is on the market to raise $10,010,000.0 in equity by a common share & warrants issue

+ Petrowest Corporation closed $12.0 million debt financing

+ Point Loma Resources Ltd. secured a $4,020,000.0 equity financing

+ Power Financial Corporation closed $250.0 million preferred share financing

+ PRO REIT is on the market to raise $20.0 million in equity

+ Slate Retail REIT is on the market to raise $65.0 million in equity

+ Slate Retail REIT is on the market to raise $2.5 million in equity by private placement

+ Softrock Minerals Ltd. is on the market to raise $100,000.0 in convertible debt by private placement

+ Touchstone Exploration Inc. is on the market to raise $2.552 million in equity by private placement




 QUOTES

+ The only way to have a friend is to be one. – Ralph Waldo Emerson

+ The world is full of nice people. If you can’t find one, be one. – Nishan Panwar




 KUDOS

+ to Clayton Riddell and Nancy Southern, named to Canadian Business Hall of Fame

+ Scotiabank – the 53rd Annual Calgary Marathon raised $800,000 for 79 local charities




 this week in REITS 


+ PRO REIT is on the market to raise $20.0 million in equity

+ Pure Multi-Family REIT LP agreed to acquire the Pinnacle at Union Hills (264 units) in Phoenix for US$47.5 million

+ RioCan REIT agreed to sell a 50% interest in Sunnybrook Plaza (Toronto) for $26.3 million

+ Slate Office REIT closed its $95.0 million acquisition of Commerce West suburban office complex in Etobicoke, ON

+ Slate Retail REIT is on the market to raise $65.0 million in equity

+ Slate Retail REIT is on the market to raise $2.5 million in equity by private placement

+ Tom Farley to Director @ Slate Office REIT




 INFRASTRUCTURE / P3  


+ GOA announced $131.0 million for 29 water infrastructure projects around the province




INTERESTING REAL ESTATE NEWS, other places


+ ABB opened a new $90.0 million facility in Montreal; consolidated 700 employees previously spread over six locations




 CONSTRUCTION NEWS + INNOVATION 


+ Triple 5 secured US$1.7 billion syndicated construction financing for its ‘American Dream’ 3.0 million sq. ft. retail/entertainment complex at The Meadowlands, East Rutherford, NJ; resurrects at recession-killed ‘Meadowlands Xanadu’ project of The Mills Corp. and Mack-Cali Realty Corp.




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this site last updated May 27, 2025