FACILITYCalgary

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FACILITYCalgary May 6/25

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SHAKERS AND MOVERS 
appointments and disappointments 

+ Adam Neumann, Founder & CEO @ WeWork, stepping down to be non-executive Chairman

+ Aidan Richardson to Director @ Tundra Oil & Gas

+ Andre Drouillard, VP Corp. Dev. & Investor Relations @ Sylogist Ltd., departed the company

+ Artie Minson to co-CEO @ WeWork

+ Ashi Mathur to Pres. @ Marlin Spring

+ Becky Trim to Payroll and People Support Specialist @ BluEarth Renewables

+ Chad Lemke to Exec. VP & COO @ GLJ Petroleum Consultants

+ Chris Bonneville, Director of Real Estate Toronto/Montreal @ WeWork, resigned

+ Darren Nicholls to Pres. @ Uniserve Communications Corporation

+ David Reese, Pres. & COO @ Callidus Capital Corporation, terminated

+ Don Copeland, Board Chair @ Toscana Energy Income Corporation, resigned

+ Don Lowry to Director @ RS Technologies Inc.

+ Eric Danberg, Pres @ Boyd Autobody & Glass, retiring

+ Gord Gillies, Broadcaster @ Global Calgary, retired

+ Heidi Overguard to Member @ Alberta Health Services Board

+ Jan Skvarka to Pres. & CEO @ Trillium Therapeutics Inc.

+ Jason Jaskela, Exec. VP & COO @ Baytex Energy Corp., left the company

+ Jennifer Maki to Director @ Baytex Energy Corp., left the company

+ Jodi Anhorn to Pres. & CEO @ GLJ Petroleum Consultants

+ Jody Begley to Director @ Cronos Group Inc.

+ Joel Armitage to Managing Principal, Community Development @ Stantec

+ John Higgins to Director @ RS Technologies Inc.

+ Jonathan Grimwood, VP Exploration @ Baytex Energy Corp.

+ Josh Blair, Chief Corporate Officer @ Telus Corp., leaving the company

+ Keith Braaten, Pres. & CEO @ GLJ Petroleum Consultants, retired

+ Kevin Griffiths to Board Chair @ Safety Codes Council of Alberta

+ Kevin Olson, Director @ Baytex Energy Corp., stepped down

+ Kim Blanchette to sr. VP & Gen. Mgr., Western Canada @ Argyle Public Relationships

+ Krista Weir to Director, HR @ Gibson Energy

+ Liam McFarlane to Chief Risk & Actuarial Officer @ Economical Insurance

+ Nikolay Malyarov to CEO @ PressReader International

+ Mark Jobin, VP @ GLJ Petroleum Consultants, retired

+ Melanie Ross, Gen. Mgr. Green Buildings Technologies Research Div. @ SAIT

+ Paul Brannen to COO @ Engage People

+ Rebekah Neumann, Co-Founder @ WeWork, leaving the company

+ Rick Murray to Managing Partner @ SHIFT Communications

+ Robert Gagne to Principal and Practice Leader @ AEC Property Tax Inc.

+ Ronald Richardson to Director @ Tundra Oil & Gas

+ Scott Grubbe to Mortgage Broker @ Kardia Mortgage Inc.

+ Sebastian Gunningham to co-CEO @ WeWork

+ Shane Workman to Head of Flight Operations @ Swoop

+ Stephen Smart to Gen. Mgr. Western Canada @ Hill + Knowlton Strategies Canada

+ Steve Mandel to Member @ Alberta Health Services Board

+ Tim Haney to Managing Partner, Calgary @ Dentons LLP

+ Tim Stinson to Exec. VP Investor Relations @ Waratah Capital Advisors Ltd.

+ Tony Canade to COO, Canadian Operations @ Boyd Autobody & Glass

+ Wayne Jacobs, Head of Real Estate & Bus. Dev., Canada @ WeWork, resigned

~

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




 MEMORIAM  

+ Harvey Wylie, All Star, All-Canadian and Hall of Fame former Calgary Stampeder, oil man, 85




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ keeping candidates engaged throughout the recruitment process

+ Millennials crave career

+ Morneau Shepell published its 23-page 2020 Salary Projection Survey – indicates base salaries will rise 2.7% in Canada next year; download the report




 TECH CORNER ... 

+ Tesla filed for a patent on what it calls the million mile battery – so, in the fullness of time, we’ll see if this is real or another over-the-top Elon Musk boast




 KUDOS 

+ to Dr. Bonnie Kaplan from the University of Calgary, winner of the 2019 $250,000.0 Dr. Rogers Prize for Excellence in Complementary and Alternative Medicine

+ to the CEO Sue Tomney and the Calgary YWCA – the opened the YW Hub facility; $60.0 million capital cost for the 100-bed facility




 SAVE THE DATE / upcoming events

+  Oct. 1; Workforce Choice Awards, Jack Singer Concert Hall, Calgary; info/tickets

+ Oct. 3; LIFT GALA, 1st Annual Flight Safety Foundation Gala, TELUS Spark Theatre, Calgary; info/tickets

+ Oct. 3; Reins of Responsibility, Shriner’s Fez Dome, Calgary; info/register - ** editor’s note: I’ve taken this program – it’s about horses, HR leadership and serious naval-gazing; I highly recommend Nancy Lowery’s signature event …

+ Oct. 9; Energy Council’s 2019 Energy Person of the Year Award Dinner, Westin Hotel, Calgary; sponsor info/tickets

+ Oct. 17-18; 10th Annual Connect Event / United Way of Calgary and Area, Carriage House Inn, Calgary; info/register

+ Oct. 18; 90th Anniversary; ‘Persons’ Day celebration, Olympic Plaza, Calgary; info/join the celebration

+ Oct. 19; Western Canada High – Class of ’69, 50 YEAR REUNION, Glencoe Club, Calgary; info/register

+ Oct. 20; Famous 5 Foundation, Persons Case/Pink Tea celebration, Fairmont Palliser, Calgary; info/tickets

+ Oct. 21; Canada’s 43rd Federal Election – everywhere; voting requirements/registration

+ Oct. 21-25; Forests of Opportunity, 2019 SFI Annual Conference, Richmond, VA; info/register

+ Oct. 23-25; National Privacy & Data Governance Congress 2019, Privacy & Access Council of Canada, Carriage House Inn, Calgary; info/register

+ Oct. 25; Womanition – 2019 Leadership Conference, Ramada Calgary Airport Hotel & Conference Centre; info/register

+ Oct. 30-31; 4th Annual Business Transitions Forum [full program], Westin Calgary; info/register; use this code for a 20% discount: maxcomm20

+ Nov. 1; Stantec presents the 5th Annual Peter Burgener Memorial Charity Concert, Barney Bentall and The Cariboo Express in support of Classroom Champions, Bella Concert Hall at MRU, Calgary … save the date; info/tickets

 + Nov. 6; Calgary Real Estate Forum, TELUS Convention Centre; info/register

+ Nov. 6; Top 40 Under 40 Awards Night, Metro Toronto Convention Centre; info/tickets

+ Nov. 11; ADIPEC – Abu Dhabi International Exhibition and Conference; info/book space in Canada pavilion

+ Nov. 19-21; ISSA Show North America 2019, Las Vegas, NV; info/register

+ Nov. 20-24; 2019 Grey Cup Festival; tickets/information

+ Dec. 2; Heritage Park – Christmas In Alberta Fundraiser, Gasoline Alley Museum, Heritage Park; info/tickets

+ Dec. 3-4; Western Sponsorship Congress, Fantasyland Hotel Edmonton; info/register




 SHAREHOLDER MEETINGS

+ Oct. 3; Great-West Life Assurance Company, London Life Insurance Company and Canada Life et al., Special Meeting to approve amalgamation, Winnipeg

+ Oct. 9; Millennial Esports Corp., Annual and Special Shareholders Meeting, Toronto

~

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




 SAVE THE DATE - CHARITY GOLF TOURNAMENTS 

+ Oct. 10; Calgary Hellenic Charity Golf Tournament, Elbow Springs GC, Calgary; info/register

~

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




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 weekly newsletter

Est. July, 1999




 TODAY'S HEADLINES


HEADLINES: AltaGas asset sale | ATCO campus wins awards | Brookfield stake in BrandSafway | Car2Go leaving YYC | CO2 truth-talk | WeWork shake-up | YW-Hub opens + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings




CONVERSATIONS

A recent conversation with award-winning writer Marcello Di Cintio

A recent conversation with Dan Elrod, Pres. @ Wallace & Carey Inc.

A recent conversation with Jerilyn Dressler, Exec. Director @ Calgary Distress Centre

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



 sponsors of this week's issue:

The Level - SETON, ROHIT COMMERCIAL

The Level Seton - Rental by ROHIT
For showings and information, call Jenn at 587-600-1960 

e-mail CalgaryRentals@rohitgroup.com
 
NEW RENTAL HOUSING



Partner with us for your CSR or employee giving program, and join us in the global fight against avoidable blindness - e-mail Lynne Nieman, Partnerships Officer
 
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RETAINED EXECUTIVE SEARCH - For more information, click here.



e-mail Peter Gatzsch
 
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DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



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OFFICE MOVERS



e-mail Grant Robinson, Managing Director, Calgary
 
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 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ carbon-dioxide reality check: what portion of the atmosphere is carbon-dioxide? I asked this question recently of several really smart people I know. Their answers ranged from “dunno”, to 10%, 25% and 50% in one room. Each person agreed CO2 is a problem, because they’ve been reading so much about it. They were shocked to learn the current level is 4%. Actually, 407.5 parts per million. Yes, it’s rising. The U.S. EIA forecasts a rise through to 2050. The report points out that CO2 emissions will rise globally at about 0.06% per/year (that’s .006 of the 0.04) over that time, while also pointing out that OECD countries (of which Canada is one), collectively, will drop during that period – that the growth is coming from the developing world. There is nothing wrong with concern, protests and education – it’s just getting frustrating, as a Canadian, to see the world’s arrows pointed at us when they ought to be pointed at the 3rd world, China and the United States – the largest emitters of greenhouse gases. While opinions vary about the significance, the truth is, far more carbon dioxide is in the oceans than exists in the atmosphere. Activists are not wrong to suggest we emit less, but the whole spectrum science is being drowned out by the noise. Climate change has been with us for billions of years – as has weather; nature caused. Deforestation, emissions and pollution are human caused. These are all important issues, but too many politicians and talking-heads are conflating these as if they are one in the same, which they are clearly not.

+ IKEA expects to produce more energy than it consumes by 2020; those are dollars the flow directly to the bottom line - giving a whole new meaning to the term ‘rooftop revenue’

+ U.S. Energy Information Administration predicts a 50% increase in world energy usage by 2050, led by Asia; the interesting and rather startling part of the graphs are the huge volume of industrial consumption by non-OECD countries and the virtual flat-lining of nuclear, the lowest emission form of energy. Renewables growth is huge, but the need for large volumes of oil and gas are very clear. And, ‘at what cost?’ for all those renewables – in other words, at scale will they be affordable … tic toc




 QUOTES 

+ It is unwise to be too sure of one’s own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err. – Mahatma Gandhi

+ Everyone thinks of changing the world, but no one thinks of changing himself. – Leo Tolstoy




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NEWS SUMMARY 
 September 24 ~ October 1 


+ 4th Annual Business Transitions Forum - Oct. 30-31, focus on your exit/transition strategy; [full program], Westin Calgary; info/register; use this code: maxcomm20 for a 20% discount

+ a warm welcome to Rohit Commercial as a new sponsor/advertiser with FACILITYCalgary; check out their new residential rental project in Seton: The Level

+ AltaGas Ltd. agreed to sell its interest in Central Penn Pipeline to Meade Pipeline Investment for $870.0 million

+ Brookfield Business Partners LP agreed to acquire 45% of BrandSafway for $1.3 billion

+ Car2Go is planning to leave Calgary Oct. 31; they will focus on larger markets

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; crude prices softened as Saudi production returned nearer its ‘pre-attack volume’, though it appears they are selling from reserves

+ Enbridge paused its auction of space in its Mainline system on order from Canada Energy Regulator after protests from shippers; Enbridge is pushing back – says they will delay, but not change, their position … tic toc

+ Genesis Land Development Corp. closed its $23.7 million acquisition of 130.0 acre residential development land in north Calgary

+ HBC’s Baker’s plans to take the company private possibly stalled; seems that WeWork became a partner when WeWork acquired the former Lord & Taylor flagship store in New York … tic toc

+ Husky Energy got regulatory approval to begin it’s Superior Refinery rebuild in Duluth, Minnesota; rebuilding will boost through-put to 400,000 bbls/day

+ iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.) closed its acquisition of and merger with Excellence Life Insurance Company

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 8 to 860 this week; Canada: up 8 to 127 this week; full breakdown

+ WELL Health Technologies Corp. agreed to acquire OSCARwest EMR Services Inc. for $1.35 million

+ WeWork withdrew/postponed its IPO financing; new co-CEO’s are re-organizing to focus on core business




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Centric Health Corporation is on the market to raise $27.5 million in convertible debt

+ Centric Health Corporation is on the market to raise $5.24 million in equity

+ CNOOC Limited is on the market to raise US$1.5 billion in debt

+ Equitable Bank closed $200.0 million debt financing

+ European Residential REIT closed $167.0 million equity financing

+ Firm Capital Property Trust is on the market to raise $5.0 million in equity

+ Hydro-Québec closed $500.0 million debt financing

+ iA Financial Corporation Inc. closed $400.0 million sub. debt financing

+ Innergex Renewable Energy Inc. closed $125.0 million in convertible debt

+ Journey Energy Inc. closed $7.3 million equity financing

+ Martello Technologies Group Inc. closed $4.6 million equity financing

+ SQI Diagnostics Inc. closed $3.13 million in equity

+ Resverlogix Corp. closed US$12.0 million debt financing

+ Telesat Canada is on the market to raise US$550.0 million in sr. unsecured debt

+ Trisura Group Ltd. closed $46.0 million equity financing

+ Trisura Group Ltd. closed $12.0 million equity financing by private placement

~

*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 …




 CORPORATE RESPONSIBILITY REPORTS 


+ Baytex Energy Corp. published its 2018 Corporate Sustainability Report

+ Hydro One Limited published its 2018 Carbon Disclosure Project Report [62 page PDF download]




 INFRASTRUCTURE / P3  


+ CPPIB engaged investment advisors to explore sale of 39% interest in Interparking, a European parking facility operator

+ Innergex Renewable Energy Inc. commenced operations on its 350.3MW Foard City wind farm in Foard County, Texas




 BUILDING OPERATIONS NEWS + INNOVATION 

+ IKEA expects to produce more energy than it consumes by 2020; those are dollars the flow directly to the bottom line - giving a whole new meaning to the term ‘rooftop revenue’




 CONSTRUCTION NEWS + INNOVATION 

+ ATCO corporate campus in Calgary wins to architecture awards

+ construction started on Montreal’s largest residential project - $700.0 million

+ shortlisted for $1.9 billion Vancouver hospital project; EllisDon and PCL




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Brookfield Property Partners LP is in talks to buy out its partner (Oxford Properties) in a $1.555 billion office complex in London, UK’s financial district

+ Firm Capital American Realty Partners Corp. closed acquisition of 50% interest in 138-unit Atlanta property for $20.3 million

+ Holloway Lodging Corporation (19 hotels/2,287 rooms) agreed to be acquired by Clarke Inc.

+ Holloway Lodging Corporation closed the sale of 3 hotels to Clarke Inc. for $18.2 million

+ in Edmonton, Stantec Tower transaction; the commercial portion of the project sold by Katz Group to German real estate investment fund, Deka Immobilien – terms not disclosed, but reporting indicates the price is in the $500.0 million range




 INTERESTING TRENDS IN RETAIL 


+ Forever 21 filed for bankruptcy protection; restructuring, closing 178 of its 815 stores in 57 countries (44 in Canada)

+ HBC’s Baker’s plans to take the company private possibly stalled; seems that WeWork became a partner when WeWork acquired the former Lord & Taylor flagship store in New York … tic toc




 INTERESTING TRENDS IN OFFICE 


+ in Calgary, Morguard REIT opened a new +15 segment, connecting 215-9th Ave SW to Gulf Canada Square

+ in Vancouver, the new owners of Bentall Centre are planning a 500,000 sq. ft. expansion program; expansion will involve addition of 450,000 sq. ft. AAA new office tower, the remainder will be expansion of retail space

+ WeWork withdrew/postponed its IPO financing; new co-CEO’s are re-organizing to focus on core business




 INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ... 


+ Blackstone Real Estate Partners IX agreed to acquire Colony Industrial for US$5.9 billion (60.0 million sq. ft. / 465 buildings / 26 U.S. markets and 51% interest in 4.0 million sq. ft. of bulk distribution assets

+ City of Calgary – report on supply of industrial land




 this week in REITS 


+ Choice Properties REIT closed its $426.0 million disposition (30 property portfolio; 27 stand-alone retail properties, 3 distribution centres) to Oak Street Real Estate Capital LLC

+ ERES REIT closed its €227.0 million Netherlands portfolio (18 properties / 942 suites) acquisition from CAP REIT

+ European Residential REIT closed $167.0 million equity financing

+ Firm Capital Property Trust is on the market to raise $5.0 million in equity

+ NorthWest Healthcare Properties REIT acquired Cambrian Centre property (four buildings and 3.5 acres development land) for $51.0 million

+ PRO REIT closed its $48.5 acquisition of a 270,388 sq. ft. mixed-use industrial property in Kanata, ON

+ Pure Multi-Family REIT LP closed its transaction with Cortland Partners LLD; US$1.2 billion sale of the Trust to Cortland

+ R & R REIT closed US$53.6 million U.S. portfolio acquisition (8 hotels/906 rooms)

+ RioCan REIT paid $114.1 million for 50% of the apartment component (to now hold 100%) of ePlace mixed use project, at the corner of Yonge Street and Eglinton Avenue Toronto




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

CLICK HERE FOR FULL GLOSSARY  


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this site last updated May 6, 2025