FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Brad Labrenz to Mgr. – Physical Security @ City of Calgary

+ Bradley Lock to Sr. VP & COO @ Keyera Corp.

+ Cheryl Fraser to Chief Talent Officer & VP Communications @ Crombie REIT

+ Christophe Dehout to CFO @ TransAlta Corporation

+ Dean Setoguchi to Sr. VP & Chief Commercial Officer @ Keyera Corp.

+ Deborah Yedlin Invested as Chancellor @ University of Calgary

+ Donald Clow to Pres. & CEO @ Combie REIT

+ Glenn Hynes to Exec. VP & COO @ Crombie REIT

+ Jeremy Thal to Pres. & CEO @ Royop Development Corporation

+ John Barnoski to Sr. VP Corp. Dev. @ Crombie REIT

+ Julie Falls to Mgr., HR Operations @ BURNCO Rock Products Ltd.

+ Kendra Davis to HR Manager @ Hammerhead Resources Inc.

+ Kevin Daniel to Exec. VP & Chief Client Officer @ The Co-operators Group Limited

+ Malloray Margel to Sr. Dir. Human Resources and Employee Relations @ RioCan REIT

+ Mark Bielenda to Sr. Recruitment Advisor @ Cameron

+ Mark Kenney to Pres. @ CAP REIT

+ Mark Little to CEO @ Suncor Energy

+ Michael Friedenberg to Pres. @ Reuters News

+ Nicole Musicco to Sr. Managing Dir., Private Markets @ Investment Management Corporation of Ontario (IMCO)

+ Scott MacLean, Vr. VP Eastern Canada @ Crombie REIT, retiring

+ Shawn Barrie to Marketing & Events Director @ Granary Road

+ Steve Williams, CEO @ Suncor Energy, retiring

+ Tim Cameron to Commercial Projects Specialist @ Sto Corp.

+ Tom Simons to Director @ Accelerate Financial Technologies Inc.

+ Trevor Lee to Sr. VP Western Canada @ Crombie REIT


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ to dress code, or not to dress code – that is the question




 CALGARY OLYMPICS 2026 BID WATCH 


+ the Nov. 13th plebiscite vote was a significant NO (56%) vote; City Council voted to ‘not submit a bid’; sad news for Calgarians who were so hopeful for economic stimulus and excitement for all Calgarians

+ no word from the NO people or city council on how they plan to address un-met needs for athletic facilities; fieldhouse, repairing ailing 1988 facilities and a replacement of the Saddledome … tic toc




  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

+ 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

+ 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

+ IMCO – Investment Management Corporation of Ontario

+ 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

+ 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




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current week data

this  site is refreshed with a new issue every Tuesday morning


updated November 20, 2018




 TODAY'S HEADLINES


HEADLINES: Calgarians vote NO | Clark builders tapped for Grande Prairie Hospital | GE to sell Baker Hughes | GFL acquires Waste Management + deals + rig counts + upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings + Olympic bid progress




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 George Mylonas, Pres. & CEO @ Landstar Communities

A recent conversation with Aly Bandali, CEO @ Operation Eyesight

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



 sponsors of this week's issue:

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



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 
DATA CENTRE

e-mail: June.Read@DataHive.ca



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



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 SAVE THE DATE / upcoming events

+ Nov. 28-29; Real Estate Forum, Metro Toronto Convention Centre, info/register

+ Dec. 9-10; 9th Annual Sustainable Innovation Forum 2018/COP24, Katowice, Poland; info/register

+ Feb. 19-21; 31st International Pipeline Pigging & Intergey Management Conference, Houston; info/registration

+ Feb. 21; B’nai Brith Annual Fundraising Dinner, Calgary; info – tickets/call 403-255-6554

+ Mar. 20; 2019 EPAC Awards Luncheon, Calgary Petroleum Club; info/register

+ Apr. 3-5; Economic Developers Alberta, 2019 Annual Conference, Banff Centre, Banff; info/register

+ June 11-13; Global Petroleum Show 2019; Stampede Park, Calgary; info/register

+ Sept. 17-19; Gastech Exhibition & Conference, Houston, Texas; info/registration


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



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NEWS SUMMARY 
 November 13 ~ 20 


+ Calgary City Council voted unanimously to discontinue the BidCo. activity after the Plebiscite on Nov. 13th was a 56% NO vote. It’s all over. Or is it? Talk around town and some reporting suggests some folks are trying to resurrect the bid as a Calgary-Edmonton adventure … tic toc

+ Clark Builders chosen by GOA to take over construction management at the ‘much delayed’ $763.0 million Grande Prairie Regional Hospital; Graham Construction were ‘relieved of their role’ as construction managers in July. Restart of construction is expected in early 2019 …

+ ConocoPhillips in talks to sell US$3.0 billion in North Sea assets to Jim Ratcliffe, Britain’s richest man … tic toc

+ current energy prices – live link to current Bloomberg energy prices / OilPrice.com; crude prices down last week for the sixth straight week  – and recovering slowly while the marketplace awaits expected OPEC supply cuts; natural gas prices continue to be strong  …

+ General Electric Co. is accelerating its efforts to sell off it’s Baker Hughes unit before the end of 2018; a sale is expected to generate US$4.0 billion

+ GFL Environmental Inc. closed us US$2.825 billion acquisition of Waste Industries

+ GOA announcement: Premier Notley established an Energy Upgrading Unit; appointees Robert Skinner, Brian Topp and Collen Volk will be ‘special envoys’, whatever that means – to promote value-add initiatives; falls on the heels of last week’s ‘floating’ a quotes scheme to cut back Alberta production across the industry; lots of voices on both sides of that and the Premier remains non-committal

+ Husky Energy’s White Rose offshore-Newfoundland project temporarily shut down as they deal with a spill; Newfoudland and Labrador regulators have ordered all offshore rigs temporarily shut down

+ North West Refining Inc. has started operations at its $9.7 billion Sturgeon Refinery, but mechanical issues, a faulty heat exchanger, are preventing a ramping up of production. They are currently producing 35-40,000 bbls/day of diesel .. tic toc

+ rig counts: up 1 to 197 on the week; click for full breakdown

+ Thomson Reuters completed their acquisition of Integration Point; terms not disclosed

+ U.S. rig counts: up 1 to 1,082 this week; full breakdown




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Cargojet Inc. closed $11.25 million overallotment of its recent debt financing

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

+ Ikkuma Resources Corp. closed $20.0 million secured debt financing

+ Karnalyte Resources Inc. is on the market to raise $2.4 million by a rights offering

*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 …




 CONSTRUCTION NEWS + INNOVATION 

+ Clark Builders chosen by GOA to take over construction management at the ‘much delayed’ $763.0 million Grande Prairie Regional Hospital; Graham Construction were ‘relieved of their role’ as construction managers in July. Restart of construction is expected in early 2019.

+ Stantec Tower in Edmonton ‘topped off’; 69-storey building is tallest in Canada outside Toronto. Completion and occupancy slated for end of 2019

+ star-chitect Norman Foster’s firm Foster + Partners is about to make another icon in London’s financial district – it will be the ‘Tulip’ tower, 1,000 ft. talk




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Amazon announced its decision to locate its 2nd world headquarters – not in one city, but in two; New York, NY (they’ll be in Queens) and Arlington/Washington (they’ll be in Crystal City, VA) – seems the 230+ cities (including Calgary) who chased that opportunity were being worked the whole time; trick us once Amazon, shame on you …

+ AutoCanada Inc. agreed to acquired Rose City Ford Sales Limited in Windsor, ON; terms not disclosed

+ Forest City Realty Trust Inc. shareholders approved a sale of the company to Brookfield Asset Management Inc. for US$6.8 billion




 INFRASTRUCTURE / P3  


+ GOA transferred 76 acres of land and 3 buildings – the University Research Park, to the University of Calgary; estimated market value $97.0 million




 this week in REITS 


+ Cheryl Fraser to Chief Talent Officer & VP Communications @ Crombie REIT

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

+ CT REIT announced it will internalize its property management

+ Donald Clow to Pres. & CEO @ Combie REIT

+ El-Ad Group Ltd. agreed to acquire Agellan Commercial REIT for $680.0 million

+ Glenn Hynes to Exec. VP & COO @ Crombie REIT

+ John Barnoski to Sr. VP Corp. Dev. @ Crombie REIT

+ Mark Kenney to Pres. @ CAP REIT

+ Scott MacLean, Vr. VP Eastern Canada @ Crombie REIT, retiring

+ Trevor Lee to Sr. VP Western Canada @ Crombie REIT




 SHAREHOLDER MEETINGS

+ Nov. 21; PSP Investments/The Public Sector Pension Investment Board, Annual Public Meeting, Ottawa

+ Dec. 5; BlackPearl Resources Inc., Special Meeting of Shareholders, Calgary

+ Dec. 7; International Petroleum Corp., Special Meeting, Calgary

+ Dec. 10; Partners REIT, Meeting of Unitholders, Toronto

+ Dec. 12; Jupiter Resources Inc., Noteholders Meeting/approve recapitalization, Calgary


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



 QUOTES 

+ The roots of all goodness lie in the soil of appreciation for goodness. – The Dalai Lama

+ If you desire to make a difference in the world, you must be different from the world. – Elaine Dalton




 KUDOS 

+ to the Estate of Randy O’Dell (found of O’Dell Electric Ltd.), for a donation of $2.0 million to SAIT to create the Randy O’Dell Centre for Electrical Trades




 SUGGESTIONS / COMMENTS:
 
feedback@facilitycalgary.com

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this site last updated May 6, 2025