Kevric Real Estate Corporation announces $300-million real estate investment and development fund

Kevric Real Estate Corporation announced today it has formed the Cirvek Fund I, L.P., a real estate investment fund that will have up to $300 million in gross investment potential for the acquisition and development of existing or new properties in three key markets. The fund’s mandate is to seek out and develop opportunities in the Toronto, Montreal and Ottawa regions.

Kevric, which co-owns and manages the Montreal landmark Place Bonaventure, will invest in the new fund alongside partners CADIM, a division of the Caisse de dépôt et placement du Québec, and another institutional investor. Kevric is managing the fund on behalf of the partners.

“At Kevric, we are known for our vision and our ability to work within a proactive framework,” said Richard Hylands, President of Kevric Real Estate Corporation. “Kevric’s management experience and approach, along with the financial muscle provided by up to $300 million in equity capital, positions the Cirvek fund as a key partner for the most attractive real estate investment and development opportunities of all sizes as they arise in our chosen markets.”

Cirvek will search out opportunities in office, retail, industrial and residential/condominium markets.

About Kevric Real Estate Corporation
A new leader in the Canadian real estate community, Kevric Real Estate Corporation offers specialized services for building construction and re-development, building and asset management, marketing, leasing and financing of projects. Kevric has offices in Montreal and Toronto and will soon be opening an office in Ottawa/Gatineau. It is co-owner and manager of Place Bonaventure in Montreal and the Fontaine Building in Gatineau. Kevric was also a key player in the repositioning of Dominion Square on the corner of Peel and Ste-Catherine Streets in Montreal and is the asset and property manager of a portfolio of 1.5 million sq. ft. of retail, office and industrial properties in Toronto.