+ 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
HEADLINES: Alberta Legislature resumes| Bell buys AlarmForce | Bus Fuller dies | Bellatrix in CCAA | City Wide/ULS merger | First Capital converting to REIT | Intact acquires On Side | TELUS buying ADT | SUMMIT REIT portfolio buy + deals + rig counts + upcoming events, appointments, Golf Tournaments + REIT NEWS + financings
+ Algonquin Power & Utilities Corp. closed its $331.0 million acquisition of New Brunswick Gas from Enbridge Inc.
+ TransAlta Corporation entered into agreement with SemCAMS Midstream ULC to develop $105.0 million 40MW cogeneration plant at the Kaybob South No. 3 procession plant
CONSTRUCTION NEWS + INNOVATION
+ Katerra presentation at Woodrise conference showcased its recently opened Cross-Laminated Timber (CLT) facility – the world’s largest CLT facility, in Spokane that can produce 12ft. wide X 60 ft. long panels – pretty impressive and a lot more than finger joints and glue …
+ WeWork’s future hanging in the balance; negotiations for an equity injection of US$1.0 billion from Softbank and floating a new US$3.0 billion debt financing with JPMorgan Chase is predicated on a prediction of profit within 10 years; and Softbank wants to renegotiate terms of its warrants granted last January (that’s when the invested US$10.0 billion based on a valuation of US$47.0 billion). Yikes!
this week in REITS
+ Allied Properties REIT is on the market to raise $300.0 million in unsecured debt
+ BTB REIT closed $24.0 million debt financing
+ Continuum Residential REIT is on the market to raise $300.0 million in equity by IPO
+ First Capital Realty Inc. board approved conversion to a REIT structure
+ RioCan REIT formed mixed use property partnerships with Killam Apartment REIT (50% of Elmvale Acres Shopping Centre, Ottawa), and Boardwalk REIT (Sandalwood Square, Mississauga)
+ RioCan REIT acquired a 50% interest for $27.1 million in an mixed use Toronto asset with income in place and housing in development; 50/50 JV with Streamliner Properties Inc.
+ Summit Industrial Income REIT agreed to acquire an Alberta portfolio (37 light industrial buildings); 3.3 million sq. ft. for $588.0 million
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