- What Goodland Equity Partners is raising money for a development opportunity in Mont-Tremblant, Qué
- Why Goodland’s partners already include Brivia and a large Canadian bank
- What next The firm is about a third of the way to its goal of $42m
Goodland Equity Partners has raised about a third of the equity it is seeking to develop a residential project in the ski resort town of Mont-Tremblant, Qué., Green Street News can reveal.
Goodland Versant Soleil is targeting $42m to fund the construction of 488 condominium, townhouse, house and hotel units in seven phases, with the final projects expected to be done in 2028. The total development cost is estimated at $490m.
The land for the development was purchased in 2018, and construction began in April 2024.
The fund is targeting an 8% annual preferred return, plus a development profit around $80m. Of the $42m, a large portion will be used to redeem existing LP units of the development project.
Brivia Group is the developer. The firm’s Brivia Family Investments is an investor in the project, as are a large Canadian bank and Goodland VS. The offering is being distributed by Parvis Investment Services. Desjardins has provided construction financing.
Investors can purchase limited partnership and mutual fund trust units at a cost of $100/unit. The minimum investment is $25,000.
The first phase, involving 56 condos and townhouses, is expected to be completed by May 2026, and phase 2, involving the construction of 15 houses, is slated to be completed by 2027. Some 48 of the 56 units in phase 1 have sold, as have nine of the 15 houses.
Phases 3, 4 and 5, involving 233 condos, are slated for completion from 2026 to 2028. A 176-room hotel is planned for phase 6 in 2028, and the final phase will see eight townhomes completed in 2027.
The property is adjacent to gondola services, allowing the chalets to have ski-in/ski-out access. The property is within Versant Soleil, a resort-style village in Mont-Tremblant, and is close to Mont-Tremblant Village.
Nearby are several golf courses, ski hills, parks, bicycle paths and lakes.
Goodland Equity Partners is a private equity investment firm specializing in real estate development.
Brivia Group, founded in Montréal in 2000, is a real estate development and investment company.
