CREATION OF A REAL ESTATE FUND

Gascon & Associés, through partner Jean Proulx, was mandated by a company owning residential properties to advise on the creation of a real estate fund. Over the past few months, Gascon & Associés, in collaboration with a national accounting firm, has drafted an agreement to create a real estate fund worth tens of millions of dollars. The objective of this fund will be to acquire residential properties in Quebec, in partnership with two other investors. The fund will have a number of individual, corporate and institutional investors. The proposed structure will require the incorporation of several companies of which the fund will be the sole limited partner/shareholder, and Gascon has been mandated to do so. In addition to these agreements, incorporations and other ancillary documents, the fund plans to set up a profit-sharing plan for certain officers. Gascon will eventually participate in the creation of this profit-sharing plan. Gascon’s members are regularly consulted for their experience and expertise in similar contexts, as well as in partnership, financing and asset acquisition matters.

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