Fonds immobilier de solidarité FTQ and Anges Québec Team Up to Support Real Estate Developers
Montréal, November 28 2016 – The Fonds immobilier de solidarité FTQ and Anges Québec have entered into a collaboration agreement in order to encourage entrepreneurship, foster the emergence of the next generation of real estate developers, and help existing developers in search of financing and coaching. In addition to providing capital, Anges Québec members will provide coaching while the Fonds immobilier will contribute both capital and real estate expertise.
The projects can be anywhere in Québec and in any real estate segment (residential, commercial, office or industrial). “As a result of this exclusive partnership with Anges Québec, we can support succession as well as existing developers in search of capital. Our plan for the next 18 months is to back a variety of projects ranging from $5 million to $25 million, meaning potentially hundreds of millions of dollars of investments ” said Normand Bélanger, President and Chief Executive Officer of the Fonds immobilier de solidarité FTQ. “We’re always on the lookout for innovative projects and are pleased to be able to pool our expertise and financial capacity with Anges Québec, which will play a key role by providing developers with coaching and support,” concluded Mr. Bélanger.
“A consultation with our members revealed that many of them are already active in real estate and that a large majority is interested in this sector. Consequently, introducing a real estate product that would allow them to coach a new category of entrepreneurs in search of capital for their projects fits right in with our mission,” said François Gilbert, CEO of Anges Québec.
“New developers and existing entrepreneurs are very interested in launching both large and small construction projects but a lack of capital is a roadblock for many. In order to partner with the Fonds immobilier, they will have to invest between 5% and 10% of the project cost and interested angels will invest the missing portion in equity,” continued Mr. Gilbert.
A structured investment process
Either partner can refer a real estate project, which will be analyzed by the Fonds immobilier de solidarité FTQ. If considered promising, the project will be submitted to Anges Québec members, who, following an established process that includes presenting the project to the investor network, will decide whether to participate. If they decide to go ahead, the project will undergo a more detailed analysis, including a due diligence review.
An information webinar will be held January 31 at 6:00 p.m. for real estate developers interested in learning more about the investment criteria and procedure for obtaining funding from Anges Québec.
About the Fonds immobilier de solidarité FTQ
Created in 1991, the Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. At May 31, 2016, the Fonds immobilier had 38 projects in progress, 43 properties under management, 17 million square feet of land slated for development and $59 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council. Visit www.fondsimmobilierftq.com
Director, Communications and Marketing
Fonds immobilier de solidarité FTQ
Tel.: 514 847-5710
Vice-President, Real Estate