+ Temple Hotels Inc. closed $26 million acquisition of extended-stay property in Fort McMurray adjacent to Clearwater Residence Hotel-Timberlea
+ Ivanhoé Cambridge, Harvard Developments and Forster Projects announced joined forces to develop a 385,000 ft2 (36 000 m2) new retail outlet destination in Winnipeg: Outlet Collection at Winnipeg
+ Milestone Apartments REIT agreed to two acquisitions (700 units) in Dallas, US$78.3 million
+ WPT Industrial REIT closed US$51.5 million industrial property acquisition in Atlanta
+ Holloway Lodging Corp. agreed to acquire Days Inn Hotel in Wyitecourt for $8.9 million; going in cap rate 11%
FINANCINGS - proposed & closed
+ Canocol Energy Ltd. is on the market to raise $125 million in equity
+ DeeThree Exploration Ltd. is on the market to raise $70 million
+ Long Run Exploration Ltd. closed $120 million equity financing
+ Marksmen Energy Inc. closed $778,996 tranche of its equity financing
+ Marquee Energy Ltd. closed $20.125 million equity financing
+ Milestone Apartments REIT closed US$228.6 million mortgage debt facility
+ NWest Energy Corp. is on the market to raise $200,000 equity financing
+ PanTerra Resource Group is on the market to raise $700,000 common shares & warrants & financing
+ Sprott 2104 Flow-Through LP completed $17.2 million IPO in 3 tranches
+ Tricon Capital Group secured $105 million credit facility
+ Valparaiso Energy Inc. closed $500,000 equity financing
+ Whitecap Resources Inc. secured $1 billion credit facility
INTERESTING REAL ESTATE NEWS OTHER PLACES
+ Alberta Infrastructure continues its half-announcements of what it will, might and might not do, might fund etc. with respect to southern Alberta flood mitigation; supposedly $325 million will go to the Resilience and Mitigation Program (whatever that means) – of which the latest is/might be a controversial (experts don’t agree)dry dam at McLean Creek on the Elbow River. Meanwhile, a tunnel diversion of the Elbow under Calgary is being studied ….
+ Calgary Homeless Foundation announced a $37 million plan; 8 buildings will house 250 people; Stepping Stone Manor, the first building, will cost $4.65 million. Kudos to Cedarglen Homes, contributing $1.4 million to the project
CHARITY GOLF TOURNAMENTS
+ May 9; All Star Weekend (May 9-11), Celebrity Golf Tournament, Springbank Links info/register – support Big Brothers Big Sisters and Burris Foundation
+ June 19; 9th Annual CREW Calgary Golf Tournament – save the date
+ June 21; 10th Annual Local 496 Plumbers & Pipefitters Charity Golf Classic, in support of Fresh Start Recovery Centre; McKenzie Meadows – register/sponsorships
+ July 10; Coast Hotels 12th Annual Golf Classic, Westwood Plateau, Coquitlam, BC info/register
+ Aug 18; Special Olympics Calgary Golf Classic, Country Hills Golf & Country Club – save the date
+ B.C. government and Petronas signed a letter of intent to cooperated in boosting Pacfic NorthWest LNG project – seems like Christy Clarks’ government wants to pick winners and losers; that’s good politics perhaps, but a lousy message to business/industry
+ BG Group conducting an asset valuation review after abrupt resignation of its CEO
+ Border Petroleum Limited closed its sale of Leduc assets for $1.8 million
+ BrokerLink acquired Anthony Clark Insurance Brokers Ltd.
+ El Paso Pipeline Partners LP agreed to acquired natural gas assets from Kinder Morgan Inc. for US$2 billion
+ Encana Corporation had denied collusion with Chesapeake Energy Corporation of gas land price-fixing; now they’ve pled ‘no contest’ and consented to a US$5 million fine … which sounds like not-guilt, so why consent to the fine, unless you did it?
+ Encana Corporation subsidiary agreed to sell US$530 million in east Texax properties
+ Gear Energy Ltd. closed $85 million heavy oil assets acquisition; Wildmere and Maidstone
+ GFL Environmental Inc. agreed to acquire Contrans Group Inc. and its subsidiaries
+ Gibson Energy Inc. is planning/starting construction of 2-300,000 barrel storage tanks at its Hardisty facility
+ Government of Canada says it will not launch a NAFTA challenge over delay of Keystone XL project despite urging from TransCanada Corporation
+ Harvard Developments Inc. & Greystone Managed Investments Inc. partnering to acquire 201 Portage Avenue in Winnipeg; 510,000 sq. ft. of A class space, AsperTower is tallest building in Winnipeg
+ Holloway Lodging Corp. agreed to acquire Royal Host Inc.; $157 million merger
+ Holloway Lodging Corp. agreed to acquire Days Inn Hotel in Whitecourt for $8.9 million; going in cap rate 11%
+ Horizon North Logistics Inc. awarded a contract to construct and operate a new 1,250 person/432 unit project in Fort McMurray area for an undisclosed customer; to be up and running Q2-2015
+ Horizon Oil Ltd. and Roc Oil Company Ltd. planning merger …
+ Ivanhoé Cambridge, Harvard Developments and Forster Projects announced joined forces to develop a 385,000 ft2 (36 000 m2) new retail outlet destination in Winnipeg: Outlet Collection at Winnipeg
+ Jim Prentice entered the PC party leadership race to become the next leader and Premier of Alberta; so far the only other declared candidate is MLA Ken Hughes; some have speculated that with Prentice in the race other candidates would withdraw but sources close to the PC caucus say MLA’s are concerned Prentice might be an Alison Redford with a necktie … so, political watching in Alberta will get interesting again for a while
+ Keyera Corp. closed its $113 million acquisition of west central Alberta natural gas assets
+ LNG Canada Development Inc. has been formed; operating entity for LNG JV of Royal Dutch Shell plc, Korea Gas Corp., Mitsubishi Corp and PetroChina International – proponents of an LNG export facility at Kitimat
+ Milestone Apartments REIT agreed to two acquisitions (700 units) in Dallas, US$78.3 million
+ National Bank Securities rebranded itself as National Bank Investments
+ National Energy Board approved Aurora and Oregon LNG export license
+ National Energy Board announced its planned moving date; they’ll be moving into Centre 10 building in the Beltline over 3 weeks in June, fully operational there by June 30
+ Passort Energy and Amarok Energy Inc. agreed to merge
+ Petcetera entering bankruptcy, closed 6 of 18 stores; 1 in Calgary
+ Petroamerica Oil Corp. agreed to acquire Suroco Energy Inc.
+ Petrobank Energy and Resources Ltd. and Touchstone Exploration Inc. got shareholder and court approval of their combination
+ Petrowest Corporation agreed to acquire Enviro-Mulch Land Clearing Solutions Ltd. for $6.36 million
+ PSCA predicts a 1% increase in 2014 well count in its revised forecast
+ SINOPEC buys into Progress Energy & Pacific Northwest LNG; will take 15% of output for 20 yrs.
+ SNC-Lavalin agreed to sell its equity stake in AltaLink to a unit of Berkshire Hathaway unit MidAmerican Energy Holdings Co. for $3.2 billion
+ Spear Street Capital disclosed as buyer of BlackBerry Ltd.’s real estate portfolio, US$278 million
+ Temple Hotels Inc. closed $26 million acquisition of extended-stay property in Fort McMurray adjacent to Clearwater Residence Hotel-Timberlea
+ Tsuut'ina Nation opened its Hotel at the Grey Eagle Casino, Resort & Entertainment Centre on Tsuut'ina Nation Day May 2nd
+ Tudor, Pickering, Holt & Co. established a Canadian office, in Calgary
+ U.S. Federal Reserve expected to further reduce its monthly bond purchase next month by a further US$10 billion a month to US$45 billion
+ U.S. government issued more sanction orders on Russia and affiliates of Vladimir Putin as the Ukraine stand-off continues to unsettle European markets; Canada followed with sanctions on two small Russian banks and nine individuals
+ Vermilion Energy Inc. closed $427 million acquisition of SE Saskatchewan assets from Elkhorn Resources Inc.
+ WAM Development Group announced plans to develop 1,800 unit/4 tower condo project with on current Metro Ford dealership site along 9th Avenue SW
+ Whitecap Resources Inc. closed its acquisition of light oil assets – Pembina Cardium and BoundaryLake areas from Imperial Oil for $678 million
+ WPT Industrial REIT closed US$51.5 million industrial property acquisition in Atlanta
QUOTES
“Tension is the great integrity.” – R. Buckminster Fuller
“I write in order to attain that feeling of tension relieved and function achieved which a cow enjoys on giving milk.” – H.L. Mencken
