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May/June, 2021

Editor/Publisher, Mark Kolke
Contact me at your convenience:
PROPERTYlines ~ monthly re-cap of news, commentary, perspective – commercial real estate ~ for investors, property professionals, lawyers, lenders, accounting and insolvency practitioners; presented by Mark Kolke - publisher of FACILITYCalgary and HOUSING TRUTH
A change ~ 
This issue of PROPERTYlines covers May 1 – June 15; from now on PROPERTYlines will be published mid-month.
+ April 2021
+ March 2021
+ February 2021
+ January 2021
December 2020
+ November 2020
+ October 2020
+ September 2020
+ August 2020
Advertising opportunities – looking for sponsors/advertisers to help fund this publication. Stay tuned for more information. Contact me for further information/rates –

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+ ATCO's proposed Clean Energy Innovation Park is getting an AUS$28.7 million funding from the Australian Renewable Energy Agency to help kickstart the production of hydrogen
+ ATCO and Suncor struck a deal to collaborate on a hydrogen project; ambitious emissions reduction plans
+ Blindman Brewing in a pilot project to reduce greenhouse gas emissions
+ Capstone Infrastructure Corporation completed its 132MW solar power facility in Willow Creek, AB
+ Dye & Durham Limited acquired Future Climate Info for $94.0 million
+ Enbridge Inc. is partnering with Walker Industries and Comcor Environmental to develop renewable natural gas from landfill waste
+ Grassy Mountain coal project opponents are happy; Joint Review Panel are thumbs-downfull report is a 680 page PDF download
+ hydrogen fuelling for commercial vehicles in Edmonton-Calgary corridor; Alberta Zero-Emissions Truck Electrification Collaboration (AZETEC) project; led by  Alberta Motor Transport Association with project partners Hydrogen Technology and Energy Corporation, Zen Clean Energy Solutions, Canadian Energy Systems Analysis Research, Bison Transport, Trimac Transportation and Suncor Energy – looking at all aspects of long-range fuel cell electric trucks for operation between Calgary and Edmonton; $2.3 million in federal government funding
+ Pieridae Energy Limited is establishing a Caroline carbon capture complex; the Caroline Carbon Capture Power Complex will sequester carbon, generate power and net-zero emission offsets; ambitious plan announcement doesn’t disclose timelines or capital cost budget … tic toc
+ Razor Energy Corp. and FutEra Power Corp. is developing the first co-produced geothermal power project in Canada in Swan Hills, AB; once completed it will produce 21MW
+ Spring Creek Mountain Village in Canmore got a Built Green Canada ‘Built Green Community’ award
+ Alberta Transportation issued a P3 RFQ for $478 million Deerfoot Trail upgrade package
+ all construction in Ontario to be allowed to reopen by mid-June
+ all timber office project taking shape in Tempe, Arizona – amazing what you can do with glue-lam beams!
+ Calgary Guidebook to Great Communities is getting plenty of pushback; 131-page document now has 62 proposed amendments to look at … public hearing coming on May 5th
+ Canada’s top 40 contractors
+ Ceres Global Ag Corp. announced plans to build $350.0 million canola crushing facility at Northgate, SK
+ Hydro Quebec transmission line go-ahead
+ International Green Construction Code – User’s Manual released by ASHRAE & International Code Council
+ Lafarge Canada Inc. acquired Béton Mobile du Québec 
+ Metrolinx/Eglinton Crosstown P3 litigation grinding on into appeal
+ North American Construction Group Ltd. agreed to acquired DGI Trading Pty Limited for $23.5 million
+ now, this IS A SPA:  Aquatio Cave Luxury Hotel & SPA (71 photos)
+ Ontario tunnelling contracts totalling $1.5 billion for P3 projects awarded
+ Parliamentary Precinct in Ottawa – design competition; 12 contenders announced
+ Spring Creek Mountain Village in Canmore got a Built Green Canada ‘Built Green Community’ award
+ the Left Bank is not just in Paris; check out this new Left Bank project in Toronto
+ U of T building wins IAI Canada design award
+ winners of 2021 A’ Design Awards
+ ZAS project in Toronto – wood-based net-zero project …
+ Aramark Canada published its sustainability plan Be Well. Do Well.
+ Artis REIT published its 2020 ESG Report
+ ATCO Ltd. issued its 2020 Sustainability Report
+ Athabasca Oil Corporation published its Inaugural ESG Report
+ Birchcliff Energy Ltd. published its 2020 ESG Report
+ British Columbia Investment Management Corporation (BCImc) published its 2020 ESG Annual Report
+ Canada Post published its 2020 Sustainability Report
+ Crombie REIT published its inaugural Sustainability Report
+ CWC Energy Services Corp. published its inaugural ESG Report
+ Desjardins General Insurance Group published its 2020 Public Accountability Statement
+ Economical Insurance published its 2020 Public Accountability Statement
+ Ensign Energy Services Inc. published is Inaugural Sustainability Report
+ Equitable Bank published its 2020 Sustainability Report
+ Frontera Energy Corporation published its 2020 Sustainability Report
+ Loblaw Companies Limited published its 2020 Corporate Social Responsibility Report
+ Manulife Financial Corporation published its 2020 Sustainability Report and Public Accountability Statement
+ Morguard released its 2020 Sustainability Report
+ Northland Power published its 2020 Sustainability Report
+ Oxford Properties published its 2021 Global Sustainability Report
+ Rogers Sugar Inc. published its first ESG Report
+ Transcontinental Inc. published its 2020 Corporate Responsibility Progress Report
+ Tricon Residential Inc. published is its Inaugural/2020 ESG Report
+ TMX Group published its 2020 ESG Report – The Future is Ours to Change
+ Vertex Resource Group Ltd. published its inaugural ESG Report
+ Blackstone Group Inc. agreed to acquire QTS Realty Trust Inc. for US$10.0 billion
+ QScale is developing a 3-building data centre complex in St. Bruno, QC; expected cost $5.0 billion
+ Stack Infrastructure in a JV with First Gulf to develop a 56-MW campus in Toronto
+ kudos to Bill Chomik, 2021 winner of the Tom Sutherland Award from the Alberta Association of Architects
+ Calgary Transit bought electric shuttle buses for a pilot project that starts in 2022
+ City of Calgary continues the wrestle with community opposition to its ‘Guidebook for Great Communities’ planning document; 62 amendments proposed
+ City of Edmonton is looking at new rationale for new neighbourhoods; looking at having developers pay for new fire stations …
+ CPP Investment Board partnering with Acofi Gestion to buy real estate debt in France
+ reverse vesting orders better understood; great article from Blakes
+ Aecon Group Inc. project; West End Connectors reached financial close on the Eglinton Crosstown West Extension Advance Tunnel project in Toronto; contract value is $729.2 million
+ Alberta Transportation issued a P3 RFQ for $478 million Deerfoot Trail upgrade package
+ ATCO Ltd. commenced operations of LUMA Energy LLC to modernize Puerto Rico’s electrical transmission and distribution system
+ Boralex Inc. commissioned a 12MW wind farm in Ille-et-Vilaine, France
+ Calgary City Council made funding decisions for pools; $400,000.0 for the Inglewood Pool to support reopening, $400,000.0 for repurposing the Beltline Pool and Aquatic facility which will not reopen, and $45.0 million for renovations of the Repsol Sports Centre
+ Calgary Film Center is being sold; the City of Calgary appointed Ernst & Young Orenda to sell the facility as a going concern …
+ Calgary’s Green Line LRT plan for the deep southeast to downtown will be built in one-phase rather than three stages as earlier planned
+ Calgary Municipal Land Corporation broke ground on its expansion of BMO Centre, Stampede Park – adding 560,000 sq. ft. of new space
+ GTA getting $25.6 billion for 4 public transit projects from Infrastructure Canada – contributing 40% to the capital cost of these projects …
+ in Edmonton, Northlands (142-yr old agriculture non-profit) is transferring control of K-Days and Farm Fair International to the City’s Events and Tourism Corporation – Explore Edmonton
+ Metrolinx/Eglinton Crosstown P3 litigation grinding on into appeal
+ Ontario tunneling contracts totalling $1.5 billion for P3 projects awarded
+ Ottawa $2.8 billion/2.5 million sq. ft. Civic health campus design details released
+ Platform Calgary – $80.0 parkade and tech-sector office facility opened in the East Village
+ Razor Energy Corp. and FutEra Power Corp. is developing the first co-produced geothermal power project in Canada in Swan Hills, AB; once completed it will produce 21MW
+ Repsol Sports Centre getting $45.0 million expansion
+ TransAlta Corporation and Pembina Pipeline Corporation struck a 100MW power purchase agreement; the $195.0 million Garden Plain Wind Power Project near Hanna will have 130MW capacity, of which Pembina will take 100MW
+ reverse vesting orders better understood; great article from Blakes
INVESTMENT/DEALS - industrial, storage, logistics
+ Amazon expanding in BC; 450,000 sq. ft. fulfillment centre in the Port of Vancouver
+ Congebec Inc. expanding its Mississauga facility; from 170,000 to 232,600 sq. ft.
+ Fengate Real Estate acquired multiple development sites in Hamilton and GTA; terms not disclosed
+ Fiera Real Estate funds acquired a portfolio of 5-GTA industrial properties for $118.0 million
+ in Edmonton, Imperial Equities Inc. acquired 120,000 sq. ft. /seven property deal
+ Soneil Investments closed a $73.0 million acquisition of 6-building Pickering portfolio
+ StorageVault Canada Inc. closed the acquisition of four (2 in Saskatchewan, 2 in Alberta) storage assets for $32.0 million
+ Storage Vault Canada Inc. closed $27.8 million GTA acquisition
+ Storage Vault Canada Inc. rebranded its B.C. stores as Sentinel Storage
+ Summit Industrial Income REIT agreed to acquire 244,000 sq. ft. property with surplus land in Burlington, ON
+ True North Commercial REIT closed the sale of an industrial property in Mississauga for $11.9 million
+ Wesbild JV launched in Vancouver; twinned-stacked industrial and office complex
+ Wills Transfer acquired Orange Logistics Centres
+ W.P Cary closed $137.0 million in sale/leaseback deals in Canada and the U.S.
INVESTMENT/DEALS - long term care & medical
+ Invesque Inc. completed its acquisition of Symphony Care Network; multiple facilities in a three-stage transaction
+ Marlin Spring / Spring Living Retirement Communities acquired eight properties/580 suites from Revera
+ Oxford Properties acquired a UK property; Cambridge Science Park for $77.2 million
+ Canderal replacing BentallGreenOak as partner with KingSett Capital for 3-tower development in Toronto; the story has some twists
+ Firm Capital Property Trust closed $18.0 million acquisition of 132-door project in Lower Sackville, NS
+ Government of Canada funded $7.6 million to the HomeSpace Society for construction of 51 affordable housing units in downtown Calgary
+ in Edmonton, Firm Capital Property Trust acquired two building/128-door project in Millwoods for $25.0 million
+ Starlight Investments completed a 5-building/465- door high rise portfolio acquisition in Vancouver
+ Tricon Residential Inc. in $1.5 billion JV with Homebuilder Direct to expand single-family rental business
+ ViveRE Communities Inc. changed its name to NexLiving Communities Inc.
+ Vancouver’s Martello Tower acquired by Mayfair Properties Ltd. ; terms not disclosed
+ Dream Office REIT and Humbold Properties are planning an 80-storey tower in Toronto; retail podium topped by 34-floors of office, topped in turn by 55 rental apartments
+ former WeWork personnel started Daybase – on-demand work spots … tic toc
+ Artis REIT entered into an asset management/services agreement with Sandpiper Asset Management Inc.
+ CAP REIT closed the acquisition of four buildings/484-doors in Oshawa
+ CAP REIT closed the acquisition of five buildings/154-doors in Montreal for $30.6 million
+ Flagship Communities REIT agreed to acquire a 167-stall manufactured home community in Little Rock, Arkansas for US$5.3 million
+ Granite REIT agreed to acquire 10 industrial properties for $368.3 million
+ Killam Apartment REIT agreed to acquire 11-building/785-door portfolio in Kitchener/Waterloo for $190.5 million
+ Marwest Apartment REIT completed its qualifying transaction; acquisition of 251-doors in Winnipeg
+ Nexus REIT acquired two properties (London, ON and Edmonton, AB) for $56.1 million
+ Nexus REIT agreed to acquire six industrial properties for $44.8 million
+ NorthWest Healthcare Properties REIT acquiring a portfolio of medical office buildings in the Netherlands for $172.0 million
+ PRO REIT agreed to acquire an 8-property portfolio in Winnipeg, MB for $32.3 million
+ PRO REIT agreed to acquire a portfolio of Atlantic Canada properties for $42.5 million
+ True North Commercial REIT closed the sale of an industrial property in Mississauga for $11.9 million
+ Brookfield Property Partners surrendered 3 – U.S. malls to lenders
+ Brookfield planning 1,000 locations for its Electric Gamebox unit
+ Calgary’s downtown Flagship Hudson’s Bay store is facing an inevitable downsizing; it will shrink its footprint to 3 floors of retailing
+ Decathalon (1,600 stores worldwide) will open a 70,000 sq. ft. sporting goods store in South Centre
+ Eagle Ridge Shopping Centre in Victoria sold to Jim Pattison Group
+ Eddie Bauer chain being split into two units – intellectual property and operating businesses; one being acquired by Authentic Brands Group and SPARC Group
+ Empire Co. announced it will open three new FreshCo locations in Alberta; two in Edmonton, one in Fort McMurray
+ Empire Co. completed its $700.0 million purchase of 51% of Longo’s and Grocery Gateway
+ Giant Tiger Stores Inc. planning expansion to grow from 259 to 200 stores
+ Google opened its first permanent store in Manhattan …
+ HBC is reducing its downtown store footprint to 3-floors
+ Higher Ground coffee is adding a Red Mile location; taking the former Starbucks location on 17th Avenue SW
+ Ivanhoe Cambridge agreed to sell Mayfair Shopping Centre in Victoria; terms/buyer not disclosed
+ LaCaille on the Bow restaurant undergoing a major makeover
+ Lord & Taylor has risen from the bankruptcy ashes; 195-yr. old brand, back in business as a ‘digital store’ … tic toc
+ Lucid Motors opened its first retail showroom in Canada
+ Nautilus Plus filed for bankruptcy protection
+ Office Depot is splitting into two companies, bricks & mortar and clicks-only – and meanwhile, Staples continues its efforts to take over the stores portion
+ Recipe Unlimited Corp. sold its Milestones brand to Foodtastic Inc.; terms not disclosed
+ Saucy Burger coming to the former Nellie’s location on 17th Avenue SW +
+ Wingstop is planning to open 100 locations in Canada over the next ten years; 1st one to open in Toronto in 2022
TECH / TELECOM corner ...
+ Xplorenet Communications Inc. acquired 160 towers in Manitoba from TowerCo Inc.
+ Alberta’s new $370.0 million job creation initiative
+ Apple employees not so keen to return to the office
+ back-to-office plans unfolding in the marketplace: here’s the Google and KPMG take
+ burnout is building at a high rate in survey results
+ COVID rules – on and off the clock
+ COVID-19 changing the rules on employee misconduct
+ drained, digital fatigue …
+ drivers of employee engagement – pushing the right buttons
+ helping lonely employees
+ just 1 in 5 want to get back to the office full time
+ long-haulers; 70% are taking leave from work
+ pushing the right buttons – 2021 Employee Experience Trends Report
+ strategies for workplace diversity and inclusion
+ the right to disconnect; a remedy for working from home stress …
+ WeWork CEO says ‘least engaged’ staff prefer working from home; great PR strategy? Huh?
+ when it comes to burnout concerns, 47% of employers care – so what about the 53% who don’t?
+ working 6 days a week? … the danger of unpaid overtime
+ Zoom boss on ‘hybrid working’ – is it here to stay?
Request a consult
Mark Kolke
+ listings – FOR SALE, FOR LEASE – Calgary, Red Deer, and Edmonton markets
+ judicial sales foreclosure/court-ordered receiverships – commercial property Calgary, Red Deer, Edmonton, and Southern Alberta
+ property management: commercial and residential property management assignments/tasks; lease enforcement, negotiation of renewals, single properties, and small portfolios
~ call me to discuss your requirements: Mark Kolke, 403-444-6939
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PROPERTYlines - Copyright © 2020-2021 , All rights reserved.

PROPERTY LINES - a monthly newsletter on happenings in the commercial real estate marketplace in Alberta and in other jurisdictions. This publication will be of interest to a wide audience of readers interested in the real estate industry and is particularly focused on issues of interest to:

- investment real estate professionals

- landlords, financial institutions and real estate lenders

- real estate lawyers, accountants, appraisers

- property managers and asset managers

- insolvency professionals, foreclosure services, service trades/contractors

- commercial, development, and income property investors



PLANDflex Corporation -  Mark Kolke, President / Publisher
Agent/Realtor/Property Mgr. - under contract to MaxWell Capital Realty
→  6204B Burbank Road SE, Calgary, AB T2H 2C2
→ Phone: (403) - 253-2450 / (403) - 444-6939
→  SELL-Phonel/Text: (403) - 312-8359
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