Montreal, March 30, 2021 – Mr. Kheng Ly, Founder, President and CEO of Brivia Group, a fast-growing Quebec real estate developer and investor, is pleased to announce today the signing of a strategic partnership with IPSO FACTO Real Estate Fund, a Quebec-based private real estate investment firm, for the 1 Square Phillips project, the tallest residential tower composed of luxury condominiums and rental units in downtown Montreal.
“We are proud to continue our growth with a recognized partner in Quebec for supporting the development of large-scale real estate projects. This first partnership with IPSO FACTO Real Estate Fund allows us to combine our respective strengths and aligns with Brivia Group’s desire to partner with companies that are committed to the development of quality real estate projects,” said Mr. Ly.
“We are very selective in our partnerships and encourage the development of well-managed real estate projects led by experienced people like those of Brivia Group. With 1 Square Phillips, a unique and flagship project for Montreal, Brivia Group is once again demonstrating its know-how and its ability to carry out solid real estate projects with a promising future,” stated Mr. Serge Robitaille, President and Managing Partner of IPSO FACTO Real Estate Fund.
Construction in full swing since last July
Construction of 1 Square Phillips, the first phase of which is valued at $560 million, began last July and has been progressing on schedule ever since. At the time of construction, 75% of the 498 condominium units had already been sold. Since the beginning of the year, sales have also been stimulated by the effervescence of the market. The 61-storey tower is being built between Place Phillips and Saint-Alexandre, in the quadrilateral bounded by Sainte-Catherine Street and René-Lévesque Boulevard, and will reach a height of 232.5 m (in relation to the river level). The first phase of the project will be delivered in 2024. With this major project, Brivia Group, Ipso Facto Real Estate Fund and all the partners are proud to participate in and contribute to Montreal’s economic recovery and the revitalization of its downtown area.
About Brivia Group
Founded in 2000, Brivia Group is a real estate developer with a growing number of major projects in Montreal, Quebec City and Toronto. Brivia Group brings together the expertise, experience and business network required to bring to life bold projects such as YUL, QuinzeCent, Stanbrooke and 1 Square Phillips, while meeting the expectations of its various clients.
Source : Brivia Group
Inquiry : Pierre Tessier