Equity of $ 100 Million in Two Years - Devimco creates a private property real estate investment fund

MONTREAL, May 29, 2013 /CNW Telbec/ - Devimco Immobilier, a new company created through the redistribution of responsibilities between partners Serge Goulet and Jean-François Breton, announced the creation of three divisions, which will include Devimco Investment, a private real estate investment fund which will target Devimco Immobilier partners and private investors.

"This innovative fund will allow private investors to participate financially in all stages of development of the real estate projects: property assembly (undeveloped land funds), real estate development projects, and completed projects," said Mr. Serge Goulet, President Devimco Immobilier, targeting an equity of $100 million over the next two years.

A key element for these funds is to combine higher yields that are specific to venture capital with the safety of stable products.

According to Mr. Goulet, the diversity of products offered by Devimco Immobilier is an assurance of prosperity for investors that support it.

Devimco Immobilier
Project development activities will remain under the leadership of Devimco Immobilier, the parent company to the group's organizations. Therefore, all activities related to the development of commercial, office and residential real estate will be driven by Devimco Immobilier. This division becomes a resource specializing in the deployment, promotion and implementation of multiple use projects .

Devimco Housing
The Devimco Housing division focuses on the development of large-scale housing projects, such as the District Griffin project, currently under construction in ​​Griffintown. Holding a permit from the Régie du bâtiment, Devimco Housing can act as a general contractor.

"The 'New Devimco' is founded on the cumulated experience of past projects and will continue resolutely towards the realization of mixed-use projects, corresponding exactly to the current market trends and to sustainable development," said Mr. Goulet who also took the opportunity to unveil the new company logo.

Devimco Immobilier was created following a friendly separation between Devimco inc. co-presidents Serge Goulet and Jean-François Breton. After the transformation, Mr. Goulet kept the Devimco banner, while Mr. Breton founded Carbonleo Real Estate inc. The "New Devimco" has two Partners: Serge Goulet and Mathieu Jobin, a longtime collaborator to Mr. Goulet.

Quartier Dix30 : Shared Responsibilities
Further development of Quartier Dix30 remains a joint mandate, carried out by teams from Devimco Immobilier and from Carbonleo Real Estate. More specifically, development planning and construction of the project Dix30 is conducted by Carbonleo Real Estate for Phase III and by Devimco Immobilier for Phases IV to VII. Renting commercial space is the joint responsibility of both teams' rental organizations regardless of the phase.

Finally, Carbonleo Real Estate will handle the property management of phases built and leased in Quartier Dix30.

About Devimco Immobilier and District Griffin
Devimco Immobilier is a new company created after the separation of responsibilities between Serge Goulet and Jean-François Breton (Immobilier Carbonleo inc.). In business since 1997 under the Devimco brand, the company is a leader in real estate development in Quebec that stands out for completion of large-scale real estate projects, including lifestyle projects that combine commercial, business, leisure and residential components.  Devimco was in fact the first real estate company to develop a project of this kind in Canada, which was the Quartier Dix30. Since 2005, Devimco Immobilier has been working on the design of one of the largest private real estate projects in Montreal, the District Griffin, a living environment where the whole social fabric of a true community will be represented.

SOURCE: Devimco Immobilier

Sophie Roy
Cohn & Wolfe
514 845-2257, Ext. 4221
[email protected]