FORMING A REAL ESTATE FUND
Gascon & Associates, through Mr. Jean Proulx, Partner, was mandated to advise a company that owns residential buildings on the forming of a real estate fund.
Recently, Gascon & Associates, in collaboration with a national accounting firm, drafted an agreement to set up the multi-million-dollar real estate fund, composed of individual, corporate and institutional investors. In partnership with two other investors, the fund will acquire residential properties in Québec. The proposed structure will require the incorporation of several companies,
with the fund as the sole limited partner/shareholder. Gascon is tasked with this part of the mandate, as well.
In addition to requiring the preparation of the agreements, the various incorporations of companies and other ancillary documents, the fund will also require assistance with plans to institute a profit-sharing plan for some of the officers. Gascon will eventually be involved in the implementation of this plan.
Gascon’s team, through experience and competence, is regularly consulted in similar contexts, in addition to partnership, financing and asset acquisition files.