QUÉBEC, Feb. 25, 2020 /CNW Telbec/ - Three renowned entrepreneurs, Frédéric Lepage, President and CEO of Groupe Château Bellevue, as well as Marie-France Poulin and Jean-François Breton, both representatives of the Champlain SH Real Estate Fund's partners, announce Groupe Château Bellevue's acquisition by the Fund to propel the development of the group specializing in complexes for active retirees.
The partnership between the Château Bellevue Group and the Champlain SH Real Estate Fund aims to meet the growing demand in the coming years from seniors who want to live in retirements homes with affordable, convivial, high-quality living environments. Ultimately, the Fund aims to hold approximately 30 retirement homes, with nearly 10,000 rental units around the province. These retirement homes will be managed by the Château Bellevue Group.
A Quebec fund for Quebec retirement homes
"This fund will give the Château Bellevue Group a new impetus and allow us to offer even more Quebec seniors the "Château life". We take care daily of thousands of people who have built Quebec. The arrival of the Champlain SH Real Estate Fund will allow us to focus on what drives us, that is to offer our seniors retirement homes that include professional services, all in a family and proximity setting", said Frédéric Lepage, President- CEO of the Château Bellevue Group.
"Our team of Quebec investors, who have solid experience in asset management, real estate and the acquisition of seniors' residences, is delighted of the partnership with the Château Bellevue Group. The will of the Fund and that of the Group are in perfect harmony: to offer well-being, quality of life and comfort to Quebec seniors who so deserve it", said Marie-France Poulin, vice-president of Camada Group and representative of Champlain SH Real Estate Fund.
An ambitious plan
The Champlain SH Real Estate Fund already brings together several private Quebec investors and will ultimately hold assets of nearly $ 500 million in equity, which will allow more than $ 2 billion worth of projects to be carried out. The Fund intends to grow its portfolio by three to four retirement homes per year, in suburban markets, for some 8,000 new units in the next eight years.
These will be added to Château Bellevue Group's existing retirement homes. "The Fund rests on solid foundations while our national development strategy is already well underway. This allows us to project the creation of 1,500 jobs over the next few years", Jean-François Breton, president of BBCF Gestion d'actifs and one of the Fund's investors.
The operations and daily management of the Château Bellevue Group's retirement homes are following their normal course. This transaction will not change the services offered to residents of Groupe Château Bellevue. The members of the management team remain in place, Frédéric Lepage and Grégoire Turcotte, co-founders of the Château Bellevue Group, being firmly committed to this new phase of development. The teams of the Château Bellevue Group's retirement homes will continue to deploy the distinctive family approach which made it famous.
About Groupe Château Bellevue
Groupe Château Bellevue creates distinctive living environments for Quebec seniors. Having started its activities in 2006 in Sainte-Marie-de-Beauce, the Château Bellevue Group currently has eight complexes for an autonomous and semi-autonomous clientele, in different regions of Quebec, namely Chaudière-Appalaches, Capitale-Nationale, Montérégie, Bas-St-Laurent and Mauricie. With a total of 1,833 units, the Château Bellevue Group is one of the 10 largest owner-managers of private seniors' homes in Quebec.
About the Champlain RPA Fund
The Champlain SH Real Estate Fund is managed by a partnership between Groupe Camada, a private equity company held by the Poulin family; BBCF Asset Management, a group managing assets in the retirement home sector; Kastellō Immobilier, an investment company of the Fortin family specializing in real estate, as well as Corporation Financière Champlain, a private investment group that invests in small and medium-sized businesses to support their growth
Groupe Château Bellevue
Champlain SH Real Estate Fund
SOURCE Groupe Château Bellevue
For further information: For information / Media relations: Pascale Bernier-Bergeron, Conseillère, Paradigme Stratégies, C: 418 953-7256, [email protected]