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

    MONTREAL, Jan. 30 /CNW Telbec/ - 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.

For further information:

For further information: Richard Hylands, (514) 397-2220

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Kevric Real Estate Corporation

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