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FACILITYCalgary May 6/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Andrew Weston to Managing Dir., Investment Lifecycle @ Ontario Teachers’ Pension Plan

+ Barb Sukkau to Pres. @ The Canadian Real Estate Association

+ Bill McAdam to Director @ Tundra Energy Marketing Limited

+ Brad Wall to Executive Advisor @ Osler, Hoskin & Harcourt

+ Dale Burgess to Sr. Managing Dir. Infrastructure & Natural Resources @ Ontario Teachers’ Pension Plan

+ Eric Lefebvre to CEO @ MTY Food Group Inc.

+ François Langlois to Director @ Crescent Point Energy Corp.

+ Gary Doer to Director @ Air Canada

+ Greg Moore to Sr. VP @ Artis REIT

+ Ivar Siem to Director @ Petrolia Energy Corporation

+ James Burns to Chairman @ Petrolia Energy Corporation

+ Janice Rennie to Board Chair @ EPCOR

+ Jim Olson, Director @ Maple Leaf Foods Inc., passed away May 3rd

+ John Reid to CEO @ Russel Metals Inc.

+ Karen Kinsley to Trustee @ Choice Properties REIT

+ Lorne Gordon, Director @ Pembina Pipeline Corporation, retired

+ Margaret Clandillon to Director @ Chorus Aviation Inc.

+ Mark Southern to Sr. VP & COO @ Rocky Mountaineer

+ Mario Barrafato to CFO @ Choice Properties REIT

+ Michael Latimer to Trustee @ Choice Properties REIT

+ Monica Sloan to Director @ Tundra Energy Marketing Limited

+ Patrick Eratostene to COO @ Greenwin Inc.

+ Rael Diamond to COO @ Choice Properties REIT

+ Ray Price to Director @ FortisAlberta Inc.

+ Stanley Mah, CEO @ MTY Food Group Inc., stepping down

+ Stephen Johnson to Trustee, Pres. & CEO @ Choice Properties REIT

+ Susan Black to Pres.& CEO @ The Conference Board of Canada

+ Tracy Lowery to Project Mgr./Estimator @ Kidco Construction Ltd.


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




 MEMORIAM

+ Sid Smith, CCIM, Exec. VP, Coldwell Banker Commercial West, commercial agent, broker; 50




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ drug testing employees; what you can and cannot do and when




 INFRASTRUCTURE / P3  


+ Aecon Group Inc. led consortium reached financial close on $2.5 billion Finch West Light Rail Transit project

+ Canada Infrastructure Bank is just getting rolling – and it is reported it’s ‘first deal’ might be the TransMountain pipeline expansion; interesting speculation by C.D. Howe Institute ... tic toc

+ GOA providing $13.5 million for three Calgary flood-mitigation projects; a far cry from the $150.0 million earlier committed to by the province; five years after the 2013 flood … tic toc … glug glug glug




 QUOTES 

+ The question isn’t who is going to let me; it’s who is going to stop me? – Any Rand

+ You wouldn’t worry so much about what others think of you if you realized how seldom they do. – Eleanor Roosevelt




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ AIMCo in negotiations to acquire Edmonton Tower … 27-storeys

+ Premium Outlet Collection mall (428,000 sq. ft.) opened at Edmonton International Airport; 100 retailers, six anchor tenants

+ WeWork leased five floors at 333 Seymour Street, Vancouver – adding 1,100 desks; its third location in Vancouver




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ 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




 SUGGESTIONS / COMMENTS:
 
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FACILITYCalgary
current week data

this  site is refreshed with a new issue every Tuesday morning


updated May 8, 2018




 TODAY'S HEADLINES


HEADLINES: Anthem purchase | Choice/CREIT merger complete | crude over US$70/bbl | Pembina sanctions Phase IV of Peace Pipeline | Shell selling CNRL stake + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




CONVERSATIONS

... stay tuned for a new series of interviews - coming soon!

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



 sponsors of this week's issue:

 
DATA CENTRE

e-mail: June.Read@DataHive.ca



e-mail Norm Landry
 
PROJECT MANAGEMENT



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



e-mail to Sharon Martens
 
ARCHITECTURE + INTERIOR DESIGN



click to contact: Trevor Winkler, Regional Managing Partner, Calgary
 
ACCCOUNTING, CONSULTING, TAX



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



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



 CONSTRUCTION NEWS + INNOVATION 

+ Aecon Group backed away from bidding on the Gordie Howe Bridge project as they await approval on their foreign takeover transaction … tic toc




 INTERESTING THINGS IN RETAIL 


+ Harry Rosen entered into an agreement with Ermenegildo Zegna to open stores in major cities branded Ermenegildo Zegna; first stores to be on Bloor Street in Toronto, Pacific Centre in Vancouver




 SAVE THE DATE / upcoming events

+ May 9; EducationMatters: Fuel the Future fundraiser; info/tickets

+ May 10; Kananaskis Golf Courses re-opening day; bookings online starting Mar. 14; res # 1-877-591-2525

+ June 4-6; OPEX Summit; Operational Excellence in Energy Chemical & Resources, BMO Centre, Calgary; info/agenda

+ June 6; U of C/School of Public Policy, ‘Bridging Divides: In Search of Sound Public Policies for Energy and Environment in Canada, Fairmont Palliser Hotel, Calgary; register/tickets

+ June 11-13; NeoCon 50th Anniversary Trade Show & Conference, theMart, Chicago; info/register , registration now open

+ June 12-14; Global Petroleum Show, Stampede Park, Calgary; event guide

+ Sept. 3-5; World Heavy Oil Congress & Exhibition, Oman Convention Centre, Muscat, Oman; info/register


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



 CORPORATE RESPONSIBILITY REPORTS 


+ Hydro-Quebec published its 16th Sustainability Report: Key to the Energy Transition




 CHARITY GOLF TOURNAMENTS 

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

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


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



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NEWS SUMMARY 
 May 1 ~ 8 


+ Anthem Properties Group Ltd. acquired a three building portfolio of Calgary industrial properties; 176,000 sq. ft. and have a 4th building under contract

+ BMO Financial Group agreed to acquire KGS-Alpha Capital Markets; terms not disclosed

+ Choice Properties REIT and CREIT completed their merger; combined enterprise value is $16.0 billion – will operate as Choice Properties REIT

+ Crescent Point Energy Corp. closed $225.0 million disposition of non-core assets

+ Crescent Point Energy Corp. reduced its 2018 CapEx Budget by $25.0 million

+ current energy prices – live link to current Bloomberg energy prices; WTI crossed US$70/bbl, Brent above US$76/bbl; uncertainty about Iran/US situation has traders jittery

+ Discovery Air Inc. granted CCAA creditor protection

+ Hub International Limited acquired Carlton Insurance Brokers Inc.

+ Invesque Inc. closed its acquisition of Mohawk Medical Properties REIT for US$138.0 million; 14 medical facilities

+ Pembina Pipeline Corporation announced it will build Phase IV of its Peace Pipeline system; capital costs is $280.0 million, to be in services in early 2020

+ rig counts: up 1 to 86; full breakdown

+ Royal Dutch Shell plc subsidiary is selling its 8% interest in CNRL; expected to fetch $4.3 billion

+ Scotiabank closed its acquisition of Jarislowsky, Fraser Limited

+ Spruce Meadows to construct a 5,000-7,000 seat stadium to host a pro soccer team for commencement in 2019

+ TransCanada Corp. announced it will commence the Montana portion of Keystone XL pipeline in fall 2018

+ Trudeau government pledged to intervene in court proceedings, opposing B.C. government efforts to stall, delay and stop the TransMountain Pipeline project … tic toc

+ U.S. rig counts: up 11 to 1,032; full breakdown

+ Viking Air Ltd/ and Longview Aviation Asset Management hiring 150 additional staff for its Calgary operations




THIS WEEK IN FINANCINGS 
- proposed & closed

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

+ Colliers  Micro-Cap Fund V, L.P. is on the market to raise $150.0 million in equity

+ DATA Communications Management Corp. closed $12.0 million debt financing

+ Kuk Finance Corp. is on the market to raise US$400.0 million in sr. debt by private placement

+ Manulife Financial Corporation is on the market to raise $600.0 million in ‘green bond’ debt

+ Premium Brands Holdings Corporation closed $172.7 million equity financing

+ 407 International Inc. closed $500.0 million debt financing




 this week in REITS 


+ Agellan Commercial REIT agreed to sell Parkway Place in Toronto for $256.2 million

+ Choice Properties REIT and CREIT completed their merger; combined enterprise value is $16.0 billion – will operate as Choice Properties REIT

+ Greg Moore to Sr. VP @ Artis REIT

+ Hudson’s Bay Co. and RioCan REIT JV are reported to have the HBC Flagship store in downtown Vancouver under contact for sale to an undisclosed offshore buyer; $675.0 million …

+ Invesque Inc. closed its acquisition of Mohawk Medical Properties REIT for US$138.0 million; 14 medical facilities

+ Karen Kinsley to Trustee @ Choice Properties REIT

+ Mario Barrafato to CFO @ Choice Properties REIT

+ Michael Latimer to Trustee @ Choice Properties REIT

+ Nexus REIT closed its $57.4 acquisition, multi-tenant sports mall in Richmond, BC

+ Nexus REIT agreed to acquired two buildings in Nisku, AB for $12.3 million

+ Rael Diamond to COO @ Choice Properties REIT

+ Stephen Johnson to Trusteet, Pres. & CEO @ Choice Properties REIT




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Blackstone Group agreed to acquire Gramercy Property Trust for US$7.6 billion

+ Daiya Foods leased 396,770 sq. ft. in Vancouver’s Lake City Business Centre

+ Hudson’s Bay Co. and RioCan REIT JV are reported to have the HBC Flagship store in downtown Vancouver under contact for sale to an undisclosed offshore buyer; $675.0 million …

+ Integrated Asset Management Corp. acquired 20 industrial properties in Atlantic Canada from Slate Acquisitions Inc. (part of their recent Cominar REIT acquisition)

+ PSP Investments agreed to acquire the Downsview Airport property (370 acres) in Toronto from Bombardier Inc. for $635.0 million; Bombardier will more to Person International Airport and lease a 38 acre site for a new business jet assembly facility




 SHAREHOLDER MEETINGS

+ May 8; Brookfield Real Estate Services Inc., Annual General Meeting, Toronto

+ May 8; Crown Capital Partners Inc., Annual and Special Meeting of Shareholders, Toronto

+ May 8; CT REIT, Annual Meeting of Unitholders, Toronto

+ May 8; Keyera Corp., Annual Meeting of Shareholders, Calgary

+ May 8; Morneau Shepell Inc., Annual and Special Meeting, Toronto

+ May 8; Quebecor, Annual Meeting of Shareholders, Montreal

+ May 8; WestJet, Annual General Meeting of Shareholders, Calgary

+ May 9; Enbridge Inc., Annual Meeting of Shareholders, Calgary

+ May 9; Enbridge Income Fund Holdings Inc., Annual Meeting of Shareholders, Calgary

+ May 9; Inovalis REIT, Annual and Special Meeting, Toronto

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

+ May 10; Big Rock Brewery Inc., Annual Meeting of Shareholders, Calgary

+ May 10; Canadian Pacific Railway Limited, Annual Meeting of Shareholders, Calgary

+ May 10; Canadian Tire Corporation, Annual General Meeting of Shareholders, Toronto

+ May 10; Crombie REIT, Annual General Meeting, New Glasgow, NS

+ May 10; Industrial Alliance Insurance and Financial Services Inc., Quebec city

+ May 10; TransAlta Renewables Inc., Annual Meeting of Shareholders, Calgary

+ May 10; TransGlobe Energy Corporation, Annual and Special Meeting of Shareholders, Calgary

+ May 10; WSP Global Inc., Annual Meeting of Shareholders, Montreal

+ May 11; ENMAX Corporation, Annual Meeting of the Shareholder, Calgary

+ May 11; Obsidian Energy Ltd., Annual and Special Meeting, Calgary

+ May 11; Yellow Pages Limited, Annual General Meeting of Shareholders, Montreal

+ May 12; Summit Industrial Income REIT, Annual Unitholders Meeting, Toronto

+ May 14; Tidewater Midstream and Infrastructure Ltd., Annual General and Special Meeting of Shareholders, Calgary

+ May 15; Innergex Renewable Energy Inc., Annual and Special Meeting of Shareholders, Calgary

+ May 15; Intermap Technologies Corporation, Annual Shareholders Meeting, Calgary

+ May 18; Cona Resources Ltd., Annual and Special Meeting, Calgary

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

+ May 25; Spartan Energy Corp., Special Meeting, Calgary

+ May 29; Crius Energy Trust, Annual and Special Meeting, Toronto

+ May 29; VIA Rail Canada, Annual Public Meeting, Montreal

+ June 7; Dollarama Inc., Annual Meeting of Shareholders, Montreal

+ June 26; Eagle Energy Inc., Annual General Meeting, Calgary


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

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