Brivia Group announces Financing Commitment and Resumption of Construction of L'Hymne des Trembles project on Tremblant's Versant Soleil

MONTREAL, April 4, 2024 /CNW/ - Brivia Group is pleased to announce the resumption of construction activities for its L'Hymne des Trembles project on Tremblant's Versant Soleil as of this spring. The company recently obtained a financing commitment with a major Canadian financial institution to fund the phases 1 and 2 of this ambitious world-class resort project, which will offer a unique residential experience for an active lifestyle surrounded by nature. In parallel with this construction financing, Brivia Group is also proud to announce the participation of new major investors in the project, including a leading Canadian institutional real estate investment fund. The completion of the financing and the addition of these equity investors solidify the financial structure of this project.

"The decision to temporarily put L'Hymne des Trembles project on hold was linked to the importance we place on financing prerequisites, confirming our commitment to its sustainability, in regard to future residents and investors," mentioned Kheng Ly, Founder, President and CEO, Brivia Group. We have always been confident that, despite the current economic climate, we would be able to finalize the financing within a reasonable timeframe. We would like to thank our partners, suppliers, professionals and customers for their patience, trust and understanding."

L'Hymne des Trembles
With a layout worthy of the finest ski villages, L'Hymne des Trembles is being developed on a 14-hectare site on the Versant Soleil side of the mountain. Phases 1 and 2 of the project consist of a combination of mountain homes, townhouses, and condominiums nestled on the mountain. Delivery of the first two phases of the project is scheduled for the winter of 2025. The future phases of the project will be unveiled shortly.

Other projects by Brivia
Brivia Group would also like to point out that construction of all of its other major projects in downtown Montreal, such as 1 Square Phillips and Mansfield, is proceeding according to schedule. 1 Square Phillips will be able to welcome its first tenants by June 2024. Construction of the Phase 2 tower has now reached the 12^th floor, and all work continues to progress according to schedule. For the Mansfield project, 98% of the structural work and 70% of the basement work are now complete. The installation of the exterior panels began in mid-March.

In addition, Brivia Group saw a strong upturn in condo sales at 1 Square Phillips and Mansfield projects last month.

About Brivia Group
Brivia Group is a real estate developer and investor with a growing portfolio of major projects in Montreal, Quebec City, the Greater Toronto Area and Vancouver. Founded in 2000 and led by the vision of its President and CEO, Kheng Ly, Brivia Group brings together the expertise, experience and business network required to bring bold projects such as 1 Square Phillips, Mansfield, YUL, QuinzeCent and CURV to life, while meeting the expectations of its diverse clientele. With dozens of real estate projects in its portfolio in Quebec, the group has also expanded into the Greater Toronto Area and Vancouver.

SOURCE Brivia Group

Pierre Tessier, [email protected], [phone]