+ Sept. 17-19; Canadian Association of Professional Landmen (CAPL), 2019 Conference, Calgary; info/register
+ Sept. 19; Uncorking Potential fundraiser (formerly known as the Peter Gzowski Invitational) for canLEARN Society, Fort Calgary, Calgary; info/tickets
+ Sept. 23-26; 2019 IREM Global Summit, Hilton Union Square, San Francisco; info/register
+ 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
+ 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
+ We suffer more often in imagination than in reality. – Seneca
+ The greatest leader is not necessarily the one who does the greatest things. He is the one that gets the people to do the greatest things. - Ronald Reagan
+ Alberta Government in talks with oil producers about exceeding curtailment limits in light of reduced Saudi output; connected to transfer of rail-car contracts … tic toc
+ Alberta legislature getting back to business: legislature to reconvene October 8th
+ Black Gold Medical Ltd. acquired Seismed Medical Services Inc.
+ Blackstone agreed to acquire Dream Global REIT for $6.2 billion
+ Brian Pallister won re-election in his seat and PCs won a re-election majority to continue governing Manitoba
+ CO2 Solutions Inc. is making a proposal to creditors under the provisions of Part III of the Bankruptcy and Insolvency Act (Canada); Ernst and Young Inc. appointed as trustee and will assist CO2 Solutions in its restructuring efforts
+ Delphi Energy Corp. closed its lateral line reactivation agreement with Alliance Pipeline Limited Partnership for $11.9 million
+ General Electric Co. is selling part of its stake in Baker Hughes; stake will go from a controlling 50.4% to 38.4%; sale expected to net GE proceeds of US$2.7 billion
+ Hatch Ltd. acquired Upside Engineering Ltd.; terms not disclosed
+ Prime Minister Trudeau asked the Governor-General to drop the writ; parliament dissolved, Canadians in 338 constituencies go to the polls October 21st
+ Point Loma Resources Ltd. is on the market to raise $1.5 million in equity by private placement
+ Rocky Mountain GTL Inc. secured $15.0 million debt financing
+ SQI Diagnostics Inc. is on the market to raise $4.0 million in equity by private placement
+ True North Commercial REIT closed $80.5 million equity financing
+ UrtheCast Corp. closed $6.6 million unsecured convertible debt financing
~
*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 …
INFRASTRUCTURE / P3
+ Government of Ontario published it’s 2019 P3 Market Update – setting out $65.0 billion in projects
+ Ottawa’s $2.1 billion/12.5 km. LRT line started up
+ Anbang Insurance Group agreed to sell its luxury hotel portfolio to Mirae Asset Management for US$5.8 billion
+ Cadillac Fairview is acquiring a 38-acre site in downtown Toronto from First Gulf et al; the scope of planned development will be $8.0 billion or more for more than 10.0 million sq. ft. of development based on the East Harbour Master Plan approved by development authorities in 2018
+ Old Navy will soon be spun off by its parent Gap Inc.; they plan to expand from 1,140 stores to 2,000 stores in North America
+ Walmart opened its first freestanding health center format; 10,000 sq. ft. facility in Dallas, Georgia is called ‘Walmart Health’ – primary care, laboratory tests, X-rays, diagnostics, counseling, dental. Optical, hearing, health insurance enrolment, education, and workshops
+ Winners is expanding in Calgary; opening a 21,000 sq. ft. store in Sunridge Mall
INTERESTING TRENDS IN INDUSTRIAL + LOGISTICS REAL ESTATE ...
+ Summit Industrial Income REIT sold its interest (JV with Urbacon) in data centres in GTA and Montreal for $178.0 million
this week in REITS
+ Blackstone agreed to acquire Dream Global REIT for $6.2 billion
+ European Residential REIT agreed to acquire 16 buildings/315 units in the Netherlands for €63.0 million/$92.6 million
+ European Residential REIT is on the market to raise $145.0 million in equity
+ Summit Industrial Income REIT sold its interest (JV with Urbacon) in data centres in GTA and Montreal for $178.0 million
+ Summit Industrial Income REIT agreed to acquire two properties in Guelph, ON; 431,930 sq. ft. new single-tenant building for $57.0 million; also, Summit is acquiring a 50% interest in 49 acres of development land for $13.8 million and entered into a JV w/Cooper Construction Limited to develop facilities on that property
+ True North Commercial REIT closed $80.5 million equity financing
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