+ European Union ripples/rumblings; bailout package for banks in Cyprus came with a bank deposit tax chaser (Cyprus is banking haven for Russian oligarchs), sending a similar message to other countries seeking EU bailouts; some analysts fear runs on banks and implosion of euro zone banking system
+ Huntingdon Capital Corp. filed new takeover for KEYreit
+ Keystone XP Pipeline drama continues, U.S. approval still in doubt, Premier Redford on speech/promotional junket, Thomas Mulcair spreading ill-will in U.S.
+ Pope Francis being installed in Rome
+ Whitecap Resources Inc. closed its $60.2 million acquisition of Invicta Energy Corp.
+ Williams Energy Canada planning $900 million to use propane dehydrogenation process to produce feedstock for plastics manufacturing; to be operational in 2016
+ BNK Petroleum Inc. agreed to sell its Woodford assets to XTO Energy Inc. for US$147.5 million
+ Cominar REIT acquired vacant lands adjacent to CentronPark office buildings for $20.5 million; Cominar now is sole owner of CentronPark Complex
+ Dundee International REIT closed its acquisition of $559 million office portfolio in Germany
+ ERCB rule changes; as of May 1, 2013 they will require 248 licensees to post $297 million to cover potential costs of reclamation of abandoned wells
+ Government of Alberta reached labour agreement with 40,000 teachers; 4 yr. contract yet to be ratified by teachers
+ KEYreit acquired two Alberta retail properties (Olds, Lloydminster) for $10 million
+ Ontario Teachers’ Pension Plan closed sale of its 1/3rd interest in the Express-Platte Pipeline System to Spectra Energy Corp. for $430 million
+ Ontario Teachers’ Pension Plan’s Natural Resources Group invested $153.4 million in the Weyburn Unit asset, 25,000 barrels/day production
+ Perpetual Energy Inc. closed sale of its Elmworth property, $77.5 million
+ Pure Industrial REIT closed on acquistion of industrial properties (Delta, Crossfield, Saskatoon, Ajax) for $25.3 million
+ Pure Multi-Family REIT LP acquired Laguna Luxury Apartments in Dallas Fort-Worth Metroplex for US$17.5 million
+ Ridgeline Energy Services Inc. closed final $1,316,265 tranche of its equity financing
+ Rosetta Resources Inc. agreed to acquire $768 million in PermianBasin oil & gas properties in west Texas from Comstock Resources Inc.
+ RS Technologies Inc. obtained 30 days CCAA creditor protection, directors resigned
+ ShawCor Ltd. shareholders approved plan to eliminate dual class share structure
+ Summit Industrial Incone REIT closed $174.5 million in property acquisitions (Edmonton, Toronto, Moncton)
INFRASTRUCTURE / P3 / GREEN
+ HumberRiverHospitalredevelopment named Best Healthcare Project, North America and Plenary Group as Best Sponsor, North America by World Finance Magazine 2013 Awards
+ hissing match between Mayor Nenshi and Canadian Home Builders Association, and builders – signed truce agreement. Soon the bookies will be taking bets on how long it will be until Rollin Stanley adds another city to his resume . . .
+ PeaceBridge price dispute; Graham Infrastructure seeking payment of $24.5 million, though contract was for $17,995,000 on a fixed cost basis . . .
INTERESTING REAL ESTATE NEWS OTHER PLACES
+ Malkin Holdings LLC, managers of the Empire State Building, is seeking investor approval to convert to REIT status as Empire State Realty Trust Inc.
+ The Caisse de dépôt et placement du Québec invested AU$32 million in Melbourne's Centre for AgriBioscience with Plenary Group
+ KKR & Co. is preparing to market its first fund dedicated to real estate investments; KKR has committed $500 million to the limited-partners pool
QUOTES
“A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.” – Robert Frost
“Bank failures are caused by depositors who don’t deposit enough money to cover losses due to mismanagement.” Dan Quayle (yes, that one!)
FACILITYCalgarynewsletters may not be reproduced, distributed, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without prior written permission. Mark Kolke, Editor/Publisher. All rights reserved. MaxComm Communications.
- this site is maintained and updated weekly - last updated May 30, 2023
