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 

+ Brad Wall to Trustee @ Avenue Living Real Estate Core Trust

+ Brent Windom to Director @ Uni-Select Inc.

+ Bruce McDonald to Pres. & CEO @ Arrow Exploration Corp.

+ Chint Kulkarni to Director @ CIBC Mellon Trust Company

+ Darcie Smith to Sr. Property Mgr. @ Ronmor Holdings Inc.

+ David Weinkauf to Director, Chief Bus. Dev. Officers @ Allied Corp.

+ Dominic Dacosta to Chairman @ Arrow Exploration Corp.

+ Don Metcalfe to Exec. Vice-Chairman @ PI Financial Corp.

+ Emily Portney to Director @ CIBC Mellon

+ Erice Phaneuf to Pres. & CEO @ Walker Capital Partners

+ Erin Gattoni to VP Human Resources @ CAN Canada

+ Gary Wine, Director @ Arrow Exploration Corp., resigned

+ Jeff Surges to CEO @ RLDatix

+ John Rhind to Chair @ Energy Safety Canada

+ Karen Gavan to Director @ HSBC Bank Canada

+ Kathy Jenkins to CFO @ Investment Management Corporation of Ontario

+ Ken Holland to General Manager & Head of Player Development @ Edmonton Oilers

+ Ken Stewart to Counsel, Calgary @ Fasken

+ Madeleine McGhee to Sr. SAP Cutover Readiness Project Mgr. @ Suncor Energy

+ Raymond Kindiak to Commissioner @ Ontario Securities Commission

+ Rob Vanderhooft to Chief Investment Officer @ TD Asset Management

+ Robert Hutchison to director @ CIBC Mellon Trust Company

+ Roslyn DeMerchant to Project Lead @ Synergy-FX

+ Tess MacLeod to Sr. Mgr., Field Marketing @ ATB Financial

+ Tori Wright to Dir. Community Engagement & Dev. @ The Alex Community Health Centre

+ Troy Talkkari to VP Corp. Dev. @ Willow Biosciences Inc.

+ Vito Ciciretto to CEO @ Dynacare

+ Wayne Jacobs to Head of Real Estate and Bus. Dev., Canada @ WeWork

~

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




 MEMORIAM

+ Barb Clifford, former City of Calgary Returning Officer



 HUMAN RESOURCES + WORKPLACE TRENDS 

+ shared workspaces brings ‘sense of community’




 QUOTES 

+ A dream doesn’t become reality through magic; it takes sweat and determination and hard work. – Colin Powell

+ Time is a thief that never gets caught. – Gary Turk




  KUDOS  

+ to Jon Cornish to be inducted to the Canadian Football Hall of Fame

+ to Suzanne de Courville Nicol, awarded the Sovereign’s Medal for Volunteers; presented by Governor-General Julie Payette




 CONSTRUCTION NEWS + INNOVATION 

+ a look at Miysis Studio proposal to re-build Notre-Dame Cathedral in Paris

+ aluminum foam facades – texture etc …

+ George Brown College ‘cutting edge’ design faculty opened

+ New York City passed the Climate Modernization Act which will, among other things, require all new buildings to have green roofs

+ Walmart Canada announced plans for $200.0 million in refurbishing 31 stores over the next year




 INTERESTING TRENDS IN RETAIL REAL ESTATE 


+ HBC reported to be mulling a sale of its Lord & Taylor (40 stores) unit

+ Walmart Canada announced plans for $200.0 million in refurbishing 31 stores over the next year




 this week in REITS 


+ Brad Wall to Trustee @ Avenue Living Real Estate Core Trust

+ BSR REIT sold four (Little Rock, Arkansas; Shreveport, Louisiana) non-core assets for $31.7 million

+ Choice Properties REIT is on the market to raise $300.0 million in equity

+ Firm Capital Property Trust closed $2.1 million overallotment of its recent equity financing

+ Granite REIT closed $231.0 million equity financing

+ Killam Apartment REIT agreed to acquire a 50% interest in the Charlottetown Mall from RioCan REIT for $23.7 million

+ Plaza Retail REIT closed $9.9 million disposition of eight properties (Winnipeg, London, Ottawa, Halifax)

+ Starlight Hybrid Global Real Assets Trust is on the market to raise $20.0 million in equity by private placement




  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

+ 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




 CORPORATE RESPONSIBILITY REPORTS 

+ Hydro-Quebec published its 2018 Sustainability Report

+ Morguard Corporation released its 2018 Sustainability Report




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this  site is refreshed with a new issue every Tuesday


updated May 7, 2019




 TODAY'S HEADLINES


HEADLINES: Alberta government sworn-in | Berkshire backing Occidental | EPIC merging with MDG | Oxford selling interest in iconic hotels| PSAC revised forecast | TransCanada name change | Trident insolvent + 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:

Last week's conversation with Carol Kitchen, Pres. & CEO @ UFA (United Farmers of Alberta)

A recent conversation with Les Gombik, Managing Partner Calgary, Caldwell

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



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 INFRASTRUCTURE / P3  


+ CPPIB and Ferrovial SA expected to match or exceed OMERS’ $3.25 billion bid for SNC-Lavalin Group’s 10% stake in Highway 407 .. tic toc

+ GOA hired lawyers to press for progress on construction of the flood mitigation Springbank dam; holdout landowners objections and TsuuT’ina Nation consultations unresolved…




 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ an argument about carbon – consider the majority of experts might be wrong

+ government of Indonesia planning to relocate it’s capital city from Jakarta to a new city; Jakarta has sunk 13 feet on the last 30 years – relocation of capital will cost US$33.0 billion – but no plans to relocate people … tic toc

+ top 10 green buildings for 2019 named by American Institute of Architects




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ May 21; MOC Summit Golf Tournament for MBI Canadian Foundation, Fairmont Banff Springs GC, Banff; info/register

+ 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; 17thy 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 
 April 30 ~ May 7 


+ Alberta government watch: legislate session begins May 21st; Premier Jason Kenny and his cabinet sworn in on April 20th – 20 ministers, 3 associate ministers ; also, deputy ministers list

+ Alberta Premier Kenny’s first action – proclamation of the Bill 12, the ‘turn off the tap law’ occurred as promised, triggering B.C. government filings to have it declared unconstitutional ~ tic toc

+ Alberta Premier Kenny’s announced his government’s first budget for 2019-20 will not be filed until the fall session of the legislature

+ Berkshire Hathaway is reported to be committed to a US$10.0 billion equity investment in Occidental Petroleum Corporation in support of its takeover bid to acquire Anadarko Petroleum Corporation

+ Connacher Oil and Gas Limited planned to exit CCAA protection; court application planned … tic toc

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices steadying amid concerns about new U.S. tariffs, Chinese demand and Venezuelan government turmoil …

+ Epic Investment Services and MDC Group agreed to merge; combined portfolio is $16.5 billion / 35.0 million sq. ft. of assets under management

+ Maxam Design International and CAA Architects merged to form Collabor8

+ Mikisew Group of Companies closed their acquisition of Guthrie Industrial Services Ltd. and Guthrie Mechanical Services Ltd.; terms not disclosed

+ Oxford Properties group is on the market to sell half its ownership of four hotels (Banff Springs, Chateau Lake Louise, Chateau Whistler, Jasper Park Lodge) – expecting to yield $1.0 billion

+ Pembina Pipeline Corp. announced it expects a one-year delay getting regulator approvals for its Jordan Cove LNG export terminal project in Oregon – first exports to commence in 2024

+ Plains Midstream Canada announced it is constructing 50,000 bpd terminal at Mitsue, AB

+ PSAC announced a downward revision of its 2019 oilfield activity forecast; now predicting 5,300 well, a 20% reduction from their 6,600 well target

+ Rangeland Midstream Canada Ltd. announced a new pipeline – 85 km to move crude oil and condensate in the Marten Hills region

+ rig activity in Canada

+ rig counts – U.S.: down 1 to 990 this week; Canada: down 2 to 61 this week; full breakdown

+ Sleeman Breweries Inc. have made an offer to take over Wild Rose Brewery … tic toc

+ TransCanada Corporation changed its name to TC Energy Corp.

+ Trident Exploration Corp. ceased operations; 4,700 wells needing cleanup (estimated cost to clean up is $329.0 million) hang in the balance with Alberta Energy Regulator; Alberta Orphan Well Association is moving to have PricewaterhouseCoopers appointed as receivers

+ Wolverine Energy and Infrastructure Inc. closed its $24.0 million acquisition of 96 production testing units (western Canada, Pennsylvania, Wyoming and North Dakota)




THIS WEEK IN FINANCINGS 
- proposed & closed

+ AcuityAds Holdings Inc. is on the market to raise $7.0 million in equity

+ Choice Properties REIT is on the market to raise $300.0 million in equity

+ DelphX Capital Markets Inc. is on the market to raise $1.8 million in equity by private placement+ Firm Capital Property Trust closed $2.1 million overallotment of its recent equity financing

+ Firm Capital Property Trust closed $1.0 million final tranche of its $17.3 million equity financing

+ Firm Capital Property Trust closed $2.1 million overallotment of its recent equity financing

+ Gabrielle’s Kitchen Inc. is on the market to raise $10.0 million in equity by private placement

+ Granite REIT closed $231.0 million equity financing

+ Maple Leaf Foods Inc. secured $2.0 billion credit facility

+ MRF 2019 Resource Limited Partnership closed $15.0 million IPO

+ Petro-Victory Energy Corp. closed $600,000.0 equity financing by private placement

+ Platinum Equity acquired the North American customs brokerage and trade services business of Livingston International Inc.; terms not disclosed

+ Polaris Infrastructure Inc. is on the market to raise $15.0 million in convertible debt by private placement

+ Questerre Energy Corporation closed $14.5 million equity financing by private placement

+ Secure Energy Services Inc. secured $600.0 million credit facility with $100.0 million accordion feature

+ Starlight Hybrid Global Real Assets Trust is on the market to raise $20.0 million in equity by private placement

+ Wolverine Energy and Infrastructure Inc. is on the market to raise $23.0 million in equity

~

*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 …




 SAVE THE DATE / upcoming events

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

+ May 8-9; Solar Canada Conference & Exhibition, BMO Centre, Stampede Park, Calgary; info/register/exhibit

+ May 9; Edmonton Real Estate Forum, Edmonton Convention Centre; info/register

+ 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

+ 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 ]



 SHAREHOLDER MEETINGS

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

+ May 7; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, Calgary

+ May 7; Equitable Life Insurance Company of Canada, Annual and Special Meeting, Waterloo, ON

+ May 7; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 7; TS03 Inc., Annual General Meeting of Shareholders, Quebec City

+ May 7; TVA Group Inc., Annual Meeting of Shareholders, Montreal

+ May 7; WestJet, an Alberta Partnership, Annual and Special Meeting of Shareholders, Calgary

+ May 8; Chorus Aviation Inc., Annual and Special Meeting of Shareholders, Halifax, NS

+ May 8; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ May 8; George Weston Limited, Annual Meeting of Shareholders, Toronto

+ May 8; Intact Financial Corporation, Annual Meeting of Shareholders, Toronto

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

+ May 8; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ May 9; Canadian Tire Corporation, Annual General Meeting of Shareholders, Toronto

+ May 9, Crombie REIT, Annual General Meeting, New Glasgow, NS

+ May 9; Industrial Alliance Insurance and Financial Services Inc., Annual Meeting, Quebec City

+ May 9; Inter Pipeline, Annual Meeting of Shareholders, Calgary

+ May 9; Morneau Shepell, Annual General Meeting of Shareholders, Markham, ON

+ May 9; Sun Life Financial Inc., Annual Meeting, Toronto

+ May 10; TransGlobe Energy Corporation, Annual General Meeting, Calgary

+ May 14; Baylin Technologies Inc., Annual General Meeting, Toronto

+ May 14; Innergex Renewable Energy Inc., Annual General Meeting of Shareholders, Montreal

+ May 14; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 15; Inovalis REIT, Annual and Special Meeting, Toronto

+ May 17; SDX Energy Inc., Annual and Special Meeting of Shareholders, London, UK

+ May 22; Stuart Olson Inc., Annual and Special Meeting, Calgary

+ May 23; Bellatrix Exploration Ltd., Annual and Special Meeting, Calgary

+ May 23; BSM Technologies Inc., Special Meeting of Shareholders, Toronto

+ May 23; Mosaic Capital Corporation, Annual General Meeting, Calgary

+ May 27; Calgary Zoological Society, Annual General Meeting, ENMAX Conservatory, Calgary Zoo

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

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

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

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

~

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


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this site last updated May 6, 2025