Tall & Urban News

Mr. Kheng Ly, Founder, President and CEO of Brivia Group, a fast-growing Quebec real estate developer and investor, announced 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, a 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 of 1 Square Phillips, the first phase of which is valued at CA$560 million (US$443 million), began in July 2020 and has been progressing on schedule since. At the time of construction, 75 percent of the 498 condominium units had already been sold. The 61 story 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 meters (in relation to the river level). The first phase of the project will be delivered in 2024. 

For more on this story, go to Brivia Group.