FACILITYCalgary

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

FACILITYCalgary May 6/25

ARCHIVED ISSUES

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CONVERSATIONS

A recent conversation with award-winning writer Marcello Di Cintio

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

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



SHAKERS AND MOVERS 
appointments and disappointments 

+ Bill Gammel to VP, Sales @ Atlas Engineered Products Ltd.

+ Brenda Gould to Marketing Specialist @ LaVita Land Inc.

+ David Cortens to Interim CFO @ Quarterhill Inc.

+ Linda Southern-Heathcott to Director & Board Chair @ Travel Alberta

+ Lisa Stevens to Chief People Officers @ Aon.plc

+ Lucia Connor to Sr. Director, Strategic Marketing @ Oxford Properties Group

+ Luke Caplette to CFO @ Nanalysis Scientific Corp.

+ Nathalie Meunier to VP Human Resources @ Mediagrif Interactive Technologies Inc.

~

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




 MEMORIAM  

+ Bill Ptacek, former CEO of Calgary Public Library, 69

+ Graham Laughren, retired advertising executive, 87

+ John Felderhof, former Bre-X Gold geologist; 79

+ Ron Nicholls, bon vivant, retired architect/partner Graham Edwards Cartier (now GEC Architecture), philanthropist, 87




 HUMAN RESOURCES + WORKPLACE TRENDS 

+ employees get stressed when forced to ‘unplug’

+ most employees come to work when they are sick

+ pay for Canada’s top CEO’s – click to check it out




 TECH Corner ... 

+ Google/Alphabet are in negotiations to acquire Fitbit Inc.

+ in the U.S., the Pentagon awarded its US$10.0 billion cloud-computing contracts to Microsoft, not Amazon – but reporting indicates Amazon has a legal challenge planned, perhaps not a surprise given the size of the prize




 SAVE THE DATE / upcoming events

+ Oct. 30; Edge Investment Forum, Westerner Park, Red Deer; 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; SMP Engineering Mini-Putt 2019 in support of Hull Services; SMP offices, Calgary; info/register

+ 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. 4; Building Smart Cities with IoT Technology, Cochrane; info / tickets

+ Nov. 4-5; National Coalition of Chiefs, National Resource Summit, Grey Eagle Resort, Calgary; info/register/sponsor

 + 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. 6-7; Buildex Alberta, BMO Centre, Stampede Park, Calgary; info/register

+ Nov. 6-7; Business Transitions Forum, Hyatt Recency, Vancouver; 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

+ Nov. 26; PETRONAS International Energy Speaker Series – Haskayne School of Business; Marie van der Hoeven Speaking; Westin, Calgary; info/register/tickets

+ Dec. 1; 3rd Annual BIG Brunch, Big Brothers Big Sisters; Hudson, Calgary; info/tickets+ 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

2020

+ Apr. 22; Earth Day (50th Anniversary), celebrated world wide; details




 SHAREHOLDER MEETINGS

+ Oct. 31; Callidus Capital Corporation, Special Meeting, Toronto

+ Nov. 15; Delphi Energy Corp., Security Holders Meeting, Calgary

+ Dec. 2; Boyd Group Income Fund, Special Meeting of Unitholders, Winnipeg

+ Dec. 10; First Capital Realty Inc., Special Meeting of Shareholders, Toronto

+ Jan. 24; Aimia Inc., Special Meeting of Shareholders, Montreal

~

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




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 CLIMATE CHANGE + LEED + RENEWABLE ENERGY 

+ EY predictions on the future of electric vehicles: how Canadian energy companies can prepare




 this week in REITS 


+ First Capital Realty Inc. got court approval for its plan of arrangement to convert to a REIT structure

+ Granite REIT agreed to acquire a three-property/2.3 million sq. ft. portfolio of distribution centres (Indiana, Georgia, Texas) for $393.0 million

+ Minto Apartment REIT closed $225.0 million equity financing

+ RioCan REIT closed $230.0 million equity financing

+ True North Commercial REIT agreed to acquire two office properties; 315,400 sq. ft. in Markham, and 209,400 sq. ft. in Calgary (3699 – 63 Ave NE/ATB Westwinds campus) for $190.5 million




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

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 weekly newsletter

Est. July, 1999




 TODAY'S HEADLINES


HEADLINES: Alberta legislative session starts | Husky layoffs | federal election aftermath + deals + rig counts + upcoming events, appointments + REIT NEWS + financings




 sponsors of this week's issue:

 
DATA CENTRE

e-mail: Carol.Keen@DataHive.ca



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



CONTACT MARK KOLKE 
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For showings and information, call Jenn at 587-600-1960 

e-mail CalgaryRentals@rohitgroup.com
 
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SUPPORTING VISION PROJECTS WORLDWIDE



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e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



 KUDOS 

+ to Dave Howard, Pres.& Co-Founder of Homes for Heroes Foundation for his vision and commitment to make a cluster of 15 little homes for veterans in Forest Lawn which opens this week; done jointly with Mustard Seed and ATCO

+ to the 2019 Alberta Business Hall of Fame inductees: Suzanne West (posthumous), Jay Westman, Margaret Southern, and Geoffrey Cumming




 QUOTES 

+ Create. Not for the money. Not for the fame. Not for the recognition. But for the pure joy of creating something and sharing it. – Ernest Barbaric

+ The secret of change is to focus all your energy not on fighting the old but on building the new. – Socrates




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NEWS SUMMARY 
 October 22 ~ 29 


+ 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

+ 20th Annual Travel Alberta Industry Conference in Banff; revenue expected to hit $30.0 billion by 2030!

+ Alberta legislature action: the Budget Speech, with an expected deficit of $8.7 billion - plans for implementation commenced with introduction of Bill 20: Fiscal Measures and Taxation Act, 2019. Bill 21: Ensuring Fiscal Stability Act, 2019 – budget cuts in all areas but Health where increases will be very small.

+ Alberta cont’d: sending a message to the petrochemical industry, announced plans to continue the $1.1 billion commitment to the Petrochemicals Diversification Program

+ current energy prices; live link to current Bloomberg energy prices / OilPrice.com; continued steady prices, Russia reaffirmed commitment to output cuts …

+ Federal Election aftermath: much talk about separatist talk, lots of Toronto-centric press commenting on what the Prime Minister ought to do so he can engage the large portion of the country where Liberals failed to win seats – and to give millions of Canadians and businesses in Western Canada to have a voice in the room when cabinet decisions are made; Kenney speeches and Toronto columnists have not, as yet, given a clear view of the new reality. Reporting indicates the Prime Minister is consulting with Alison Redford and Naheed Nenshi for advice on dealing with the west – which ought to make us all gag just a little; seriously, if the Prime Minister wants to work with the west, he should work with the Premiers, because they ARE elected to represent their citizens. Andrew Sheer’s future is in doubt with Peter MacKay and Rob Ford making noises … tic toc

+ G4 Insights Inc. producing pipeline-ready natural gas from Alberta forest residues

+ Husky Energy Inc. announced it will lay off staff in step with reduced spending plays; numbers not released, though reports of ‘hundreds’ have been circulating

+ RentPERKS Canada Property Management Ltd. acquired the property management business of Auger Properties

+ rig activity in Canada

+ rig counts (active/working) – U.S.: down 21 to 830 this week; Canada: up 4 to 147 this week; full breakdown




THIS WEEK IN FINANCINGS 
- proposed & closed

+ CRH Medical Corporation secured $200.0 million credit facility

+ Delphi Energy Corporation closed $46.5 million equity financing

+ Fairstone Financial Inc. closed US$125.0 million sr. debt financing

+ Garda World Security Corporation is on the market to raise US$779.0 million sr. debt financing

+ GFL Environmental Inc. is on the market to raise US$2.1 billion in equity by IPO

+ Minto Apartment REIT closed $225.0 million equity financing

+ RioCan REIT closed $230.0 million equity financing

+ Rogers Communications Inc. is on the market to raise US$1.0 billion debt financing

+ Sienna Senior Living is on the market to raise $150.0 million in sr. unsecured debt

~

*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  


+ Brandt Group established Brandt Road Technology, a Canada-wide business unit to better serve the roadbuilding industry; opening two Road Technology centres of excellence, one in Milton, ON, one in Calgary

+ five smart city plans/designs; Toronto’s Sidewalk Labs is one of them

+ Royal Architectural Institute of Canada Award; Toronto firm Hariri Pontarini Architects won the big prize for its design of Baha’I Temple of South America, Santiago, Chile




 CORPORATE RESPONSIBILITY REPORTS 


+ Desjardins General Insurance Group published its 2018 Public Accountability Statement




 INFRASTRUCTURE / P3  


+ Calgary’s $1.53 billion GreenLINE LRT plans may be slowed or stalled by the Alberta budget which is cutting back funding for cities; the province’s commitment/earlier promised for Stage 1 is now in question;  the Kenney government budget is providing on $75.0 million in this fiscal year rather than $555.0 million the expected … tic toc

+ CPPIB agreed to sell its 39% stake in Interparking (949 parking facilities, 416 cities, 9 countries) to APG; terms not disclosed

+ The Canadian Infrastructure Bank is reported to be considering the creation of an internet utility; seems outside its mandate to be entrepreneurial rather than a P3 financing tool …




 INTERESTING REAL ESTATE NEWS FROM OTHER PLACES 


+ Hole’s Greenhouses & Gardens Ltd. in St. Albert has been sold to TEC Property Inc.; business founded by Ted and Lois Hole 50 years ago who will continue operations

+ in Toronto, the Don Valley Hotel and Suites re-development site is trading; DVP Hotel Development LP acquiring from Allied Hotel Properties Inc. for $102.0 million – site is 5.42 acres, with an

+ StorageMart acquired Storage King, an 890 unit/168 parking space storage facility in Edmonton




 INTERESTING TRENDS IN RETAIL 


+ Costco will open its first store on first nations land; Tuut’ina First Nation project, Shops At Buffalo Run will open in 2021

+ Nordstrom’s opened its first Flagship Store in New York; 320,000 sq. ft./seven-story in Midtown Manhattan

+ Red Robin burger chain (17 stores) will close all five of its remaining Alberta locations (in Edmonton) by the end of the year;

+ sports companies are changing of the guard: new CEO @ Under Armour, and new CEO @ Nike




 INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE 


+ Prologis Inc. agreed to acquire Liberty Property Trust for US$12.6 billion; 107.0 million sq. ft.  logistics portfolio, development pipeline 1,634 acres of developable logistics land, and 4.9 million sq. ft. of office properties in an ‘all stock’ transaction




 INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ WeWork saga continues; Softbank have taken over (now own 80%), injected US$8.0 billion, of which US$3.0 billion was used for a share buyback; founder Adam Neuman is gone (US$1.7 billion severance), new management is pulling back on expansion – and landlords are looking for alternatives to fill spaces that will now ‘not be filled’ by WeWork because the cash-strapped company is contracting


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this site last updated May 6, 2025