Montreal, September 14, 2023 – Brivia Group is pleased to announce a strategic partnership with IPSO FACTO Investissement Immobilier, a Quebec-based private real estate investment firm, for Phase 2 of 1 Square Phillips, a landmark condominium project in downtown Montreal, Phase 1 of which will be delivered starting in spring 2024.
Alongside the establishment of the partnership with IPSO FACTO, Brivia Group also announces the successful completion of the construction financing for Phase 2 of 1 Square Phillips project through a banking syndicate led by BMO. These two major transactions ensure and confirm the robustness of 1 Square Phillips project, located at the heart of the newly transformed and enriched Square Phillips, recognized as one of the symbolic locations of downtown Montreal.
“We are proud to strengthen our partnership with IPSO FACTO for Phase 2 of 1 Square Phillips. Already a partner for Phase 1, IPSO FACTO is renewing its commitment and confidence in the vision and value of this emblematic project. Backed by a banking syndicate led by BMO for the project’s construction financing, this new strategic agreement testifies to our partners’ confidence in Montreal’s long-term real estate market and our collective determination to raise the standards of residential excellence in our dynamic city,” said Mr. Kheng Ly, President and CEO, Brivia Group.
“During Phase 1 of 1 Square Phillips project, we discovered that Brivia Group’s committed, experienced, and visionary professionals favored a flexible and dynamic approach that was entirely compatible with our own,” said Éric C. de Léry, co-president of IPSO FACTO. Brivia Group team stands out not only in the way it manages its projects but also in the way it respects the communities in which they take shape.”
Phase 2 of 1 Square Phillips project was launched in 2022, and since then sales have continued to progress in line with the company’s objectives. The 21-story tower will be added to the perimeter of the 61-story main tower of Phase 1. An interior courtyard and terrace with an urban chalet overlooking the Montreal skyline will offer 440 new condo units a unique experience between Mount Royal and Old Montreal, on the edge of Sainte-Catherine Street and the Quartier des Spectacles.
Phase 2 of 1 Square Phillips will have its own identity within the overall project, recalling the history of this important area of Montreal, while blending with modernity. The architecture of the second phase has been entrusted to MSDL Architects, a Canadian leader in sustainable design.
A milestone for the project
The construction work of Phase 1 is progressing at a steady pace. In mid-July, construction reached the significant milestone of the tower’s 61st floor, enabling the first deliveries to be scheduled for spring 2024.
About Brivia Group
Brivia Group is a real estate promoter and investor which holds a growing number of major achievements in Montreal, Québec City as well as the Greater Toronto Area and Vancouver. Founded in 2000 and led by President and CEO Kheng Ly’s vision, Brivia Group combines expertise, experience and the business network needed to allow audacious projects like 1 Square Phillips, Mansfield, YUL, QuinzeCent, and CURV to take shape while also meeting expectations for its diverse clientele. With dozens of Québec real estate projects in its portfolio, the group has also expanded to the Greater Toronto Area and Vancouver.
About IPSO FACTO
IPSO FACTO is a private investment group whose mission is to invest in real estate development projects. Founded in 2000, IPSO FACTO offers its expertise and financial resources to a clientele of leading real estate developers, entrepreneurs and property managers. IPSO FACTO encourages the development of well-supported real estate projects, led by seasoned professionals working in Quebec’s major metropolitan areas.