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 

+ Alex Pourbaix to Pres. & CEO @ Cenovus Energy Inc.

+ Brent Forest to Finance & Acquisitions @ Empire Communities

+ Cameron McDonald to Principal & Executive Recruiter @ Pekarsky & Co.

+ Dave Rodney, MLA for Calgary-ougheed @ Government of Alberta, resigned his seat

+ David Stevenson, Chief Superintendent @ Calgary Board of Education, resigned

+ Doreen Cole to Managing Dir. @ Syncrude Canada Ltd.

+ Gary Mullen, Director @ Big Rock Brewery Inc., resigned

+ Jason Kenney to Leader @ United Conservative Party of Alberta

+ Ken Shaman to Associate Principal @ S2 Architectural

+ Kris Augustson to VP Leading & Land Sales, Edmonton @ Remington Development Corporation

+ Louise St-Pierre to Director @ Transat A.T. Inc.

+ Lydia Seifert to VP, Gen. Mgr. Chinook Centre @ Saks Fifth Avenue

+ Lynn Oldfield to Chair, Board of Governors @ The Insurance Institute of Canada

+ Marc Beauchamp to Pres. & CEO @ The CAI Globald Group

+ Mark Ward, Pres. & CEO @ Syncrude Canada Ltd., retiring

+ Murray Suey to Regional Managing Partner @ KPMG

+ Paul Hollands, Pres. & CEO @ A&W Food Services Inc., retiring

+ Pete Pigott to Pres. & CEO @ Financial Executives International Canada

+ Robert Horrar to Pres. & CEO @ Medical Facilities Corporation

+ Sandra Odendahl to Pres. & CEO @ CMC Research Institutes

+ Stephanie Terrill to Advisory Partner-in-Charge @ KPMG

+ Stephen Jabs to Associate @ S2 Architecture

+ Steven Douglas to Audit Partner-in-Charge @ KPMG

+ Susan Senecal to Pres. & CEO @ A&W Food Services Inc.

+ Tim Royds to COO @ Empire Communities

+ Vera Groen, Corporated Properties @ City of Airdrie, retiring


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




 HUMAN RESOURCE + WORKPLACE TRENDS 

+ preparing for pot – what you need to know




  GLOSSARY + ABBREVIATIONS + ACRONYMS 

+ AEMERA – Alberta Environmental Monitoring Evaluation and Reporting Agency

+ AER - Alberta Energy Regulator

+ 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

+ 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

+ 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 October 31, 2017




 TODAY'S HEADLINES


HEADLINES: Aecon Group SOLD | Amazon broke ground | Cenovus announced new CEO | crude prices up | Henry Singer move | Innergex buying Alterra | Suncor to develop Meadow Creek West + Ross Roy interview  upcoming events, appointments + climate change + infrastructure + REIT NEWS + financings 




CONVERSATIONS

This week's conversation with Ross Roy, Principal @ Stantec Architecture

A recent conversation with Wendy Brownie, creator/curator/owner at inspirati

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



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



 sponsors of this week's issue:

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



e-mail Peter Gatzsch
 
COMMERCIAL INTERIOR CONSTRUCTION



CONTACT MARK KOLKE 
OFFICE AND INDUSTRIAL LEASING



CONTACT MARK KOLKE 
RESIDENTIAL SALES



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



 SAVE THE DATE / upcoming events

+ Nov. 3; The 3rd Annual Peter Burgener Memorial Charity Concerts – Barney Bentall & the Cariboo Express in support of Classroom Champions!, presented by Mawer Investments and Stanec [100% of ticket sales go to the cause!], in the Bella Concert Hall, Mount Royal Universtiy, Calgary; info/tickets .. password is CLASSROOM

+ Mar. 21-23/2018; Economic Developers of Alberta; Annual Conference, Banff Centre, Banff; call for papers


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



 SHAREHOLDER MEETINGS

+ Nov. 22; PSP Investments, Annual Public Meeting, Ottawa

+ Dec. 7; H&R REIT, Meeting of Unitholders/Consider Re-organization, Toronto

+ Dec. 7; H&R F17 Trust, Meeting of Unitholders/Consider Re-organization, Toronto


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



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NEWS SUMMARY 
 October 24 ~ 31 


+ Aecon Group Inc. agreed to a $1.45 billion takeover by China Communications Construction Co. Ltd.; the deal is subject to Canadian government Investment Canada Act review/approval by a foreign buyer … tic toc

+ Altus Group published its 2017 Canadian Tax Rate Analysis; 14 page PDF download

+ Amazon broke ground on a 600,000 sq. ft. fulfillment centre being built at Nose Creek Business Park; QuadReal Property Group are developing the facility which will employ 750 people

+ Bank of Canada maintained its overnight rate target at 1.0%

+ current energy prices – live link to current Bloomberg energy prices; crude prices up and steady – WTI US$54/bbl, Brent US$60/bbl as inventories tighten and rebalancing of the market has incremental effects

+ CWC Energy Services Corp. agreed to acquired C&J Energy Service’s Canadian unit for $37.5 million

+ Henry Singer relocated to Eighth Avenue Place; 6,006 sq. ft.

+ Innergex Renewable Energy Inc. agreed to acquire Alterra Power Corp. for $1.1 billion

+ MATRRIX Energy Technologies Inc. closed its $6.1 million acquisition of Vortex Drilling Ltd. through a court-appointed receivership of Vortex

+ Petrolia Energy Corporation agreed to acquire 100% of Bow Energy Ltd.

+ rig counts: down 11 this week to 191; full breakdown

+ Suncor Energy applied for regulatory approval for its Meadow Creek West project; 40,000 bpd SAGD project 30km. south of Fort McMurray – construction to start in 2022

+ Surge Energy Inc. acquired a portfolio of Sparky area assets for $37.2 million




THIS WEEK IN FINANCINGS 
- proposed & closed

+ Birks Group Inc. secured $85.0 million revolving credit faciltiy

+ Grande West Transportation Group Inc. secured $20.0 million credit facility

+ Innergex Renewable Energy Inc. secured $150.0 million debt financing

+ MATRRIX Energy Technologies Inc. closed final tranche of its $2,612,000.0 unsecured convertible sub debt financing by private placement

+ Potash Ridge Corporation closed $1.4 million tranche of an equity financing by private placement

+ Surge Energy Inc. is on the market to raise $40.0 million in convertible debt

+ Traverse Energy Ltd. closed $4.9 million tranche of an equity financing by private placement




 MEMORIAM

+ Jack Edelson, co-founder of Barron Edelson Insurance (now Renfrew Insurance), died




 QUOTES

+ Courage is the power to let go of the familiar. – Raymond Lindquist

+ It is not hard to make decisions when you know what your values are. – Roy Disney




 CONSTRUCTION NEWS + INNOVATION 

+ update on construction of the new Champlain Bridge

+ very cool ‘bridge house’ in Ontario




 this week in REITS 


+ Morguard North American REIT and HOOPP JV acquired Coast at Lakeshore East in Chicago (515 suite rental high-rise) for $287.5 million

+ Pure Multi-Family REIT LP agreed to acquire a project in Phoenix (230 units) for US$59.0 million




 INFRASTRUCTURE / P3  


+ Denver Airport is now a P3; Ferrovial Airports have a US$1.8 billion/34 yr. concession with the City of Denver who are now, looking at P3 as a solution to other infrastructure issues …




INTERESTING REAL ESTATE NEWS, other places


+ Brookfield Asset Management Inc. acquired the Sheraton Hotel in downtown Toronto for $335.0 million from Marriott International Inc.

+ Brookfield Properties Corp. has its Bay Adelaide Centre property in Toronto on the market; looking to raise $1.0 billion for a 50% interest in the project

+ Starlight U.S. Multi-Family closed its acquisition of Heights of Surgarloaf (330 units) in Atlanta




INTERESTING TRENDS IN RETAILING 


+ Hudson’s Bay Company sold the flagship store of its Lord & Taylor unit for $1.1 billion; the legendary 5th Avenue location (676,000 sq. ft.) in Manhattan will become home to WeWork, an office space incubator focuses on technology users

+ Hudson’s Bay Company has put its downtown Vancouver flagship store on the market; expectations are it will fetch $800-900.0 million




INTERESTING TRENDS IN OFFICE REAL ESTATE 


+ TD Bank Group is closing its TD Insurance call centre in Edmonton; relocating to Halifax and Saint John




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this site last updated May 6, 2025