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Global Education Communities Corp. (GECC) has announced the execution of investment and cooperation agreements with Pomerleau Capital Inc. (PCAP). PCAP will invest in one of GECC’s partnerships and co-develop the Project, with plans to extend this model to other GEC® student housing properties in Metro Vancouver. The investment was completed on November 20, 2024. The aggregate construction budget of GEC® projects under development exceeds $800 million. PCAP brings additional value through its construction arm, Pomerleau Inc and subsidiary ITC Construction Group, one of Canada’s largest construction companies.
Global Education Communities Corp. (GECC) ha annunciato l’esecuzione di accordi di investimento e cooperazione con Pomerleau Capital Inc. (PCAP). PCAP investirà in una delle partnership di GECC e co-sviluppare il Progetto, con piani per estendere questo modello ad altre proprietà di student housing GEC® nella Metro Vancouver. L’investimento è stato completato il 20 novembre 2024. Il budget totale di costruzione dei progetti GEC® in fase di sviluppo supera 800 milioni di dollari. PCAP porta ulteriore valore attraverso il suo braccio edilizio, Pomerleau Inc e la sussidiaria ITC Construction Group, una delle più grandi aziende di costruzione del Canada.
Global Education Communities Corp. (GECC) ha anunciado la ejecución de acuerdos de inversión y cooperación con Pomerleau Capital Inc. (PCAP). PCAP invertirá en una de las asociaciones de GECC y co-desarrollará el Proyecto, con planes de extender este modelo a otras propiedades de vivienda estudiantil GEC® en la Metro Vancouver. La inversión se completó el 20 de noviembre de 2024. El presupuesto total de construcción de los proyectos GEC® en desarrollo supera 800 millones de dólares. PCAP aporta valor adicional a través de su brazo de construcción, Pomerleau Inc. y su subsidiaria ITC Construction Group, una de las mayores empresas de construcción de Canadá.
글로벌 교육 커뮤니티 Corp. (GECC)가 포멀로우 캐피탈 Inc. (PCAP)와 투자 및 협력 계약 체결을 발표했습니다. PCAP는 GECC의 파트너십 중 하나에 투자하고 프로젝트를 공동 개발하며, 이 모델을 메트로 밴쿠버의 다른 GEC® 학생 주택 속성으로 확장할 계획입니다. 투자는 2024년 11월 20일에 완료되었습니다. 개발 중인 GEC® 프로젝트의 총 건설 예산은 8억 달러 이상입니다. PCAP는 캐나다에서 가장 큰 건설 회사 중 하나인 포멀로우 Inc.와 자회사 ITC Construction Group을 통해 추가 가치를 제공합니다.
Global Education Communities Corp. (GECC) a annoncé la conclusion d’accords d’investissement et de coopération avec Pomerleau Capital Inc. (PCAP). PCAP investira dans l’un des partenariats de GECC et co-développera le projet, avec des plans pour étendre ce modèle à d’autres propriétés de logements étudiants GEC® dans la région métropolitaine de Vancouver. L’investissement a été finalisé le 20 novembre 2024. Le budget de construction total des projets GEC® en cours de développement dépasse 800 millions de dollars. PCAP apporte une valeur ajoutée grâce à son bras de construction, Pomerleau Inc. et sa filiale ITC Construction Group, l’une des plus grandes entreprises de construction au Canada.
Global Education Communities Corp. (GECC) hat die Ausführung von Investitions- und Kooperationsvereinbarungen mit Pomerleau Capital Inc. (PCAP) bekannt gegeben. PCAP wird in eine der Partnerschaften von GECC investieren und das Projekt gemeinsam entwickeln, mit Plänen, dieses Modell auf andere GEC®-Studentenwohnanlagen im Metro Vancouver auszuweiten. Die Investition wurde am 20. November 2024 abgeschlossen. Das Gesamtbudget für den Bau der im Entwicklung befindlichen GEC®-Projekte übersteigt 800 Millionen Dollar. PCAP bringt zusätzlichen Wert durch ihren Bauarm, Pomerleau Inc. und die Tochtergesellschaft ITC Construction Group, eines der größten Bauunternehmen Kanadas.
Positive
- Secured strategic investment partnership with Pomerleau Capital Inc.
- Access to construction expertise through Pomerleau Inc and ITC Construction Group
- $800 million aggregate construction budget for GEC® projects under development
- Potential expansion of partnership model to other Metro Vancouver properties
VANCOUVER, BC / ACCESSWIRE / November 28, 2024 / Global Education Communities Corp. (“GECC” or the “Company“) (TSX:GEC)(OTCQX International:GECSF) is pleased to announce the execution of several agreements relating to an investment in one of GECC’s limited partnerships (the ” Project “) by an affiliate of Pomerleau Capital Inc (” PCAP “). In addition to its investment, PCAP will co-develop the Project, with plans to extend this model of investment and co-development to other GEC® student housing properties in Metro Vancouver. The investment was completed on November 20, 2024.
“We are excited to be working with PCAP,” commented Toby Chu, Chairman, President and Chief Executive Officer of GECC. “We feel this is an investment partnership and a fully integrated strategic relationship. In addition to capital resources, PCAP brings additional value from its construction arm, Pomerleau Inc and its subsidiary ITC Construction Group, ranked one of Canada’s largest construction companies. The ongoing development and construction needs of various GEC® projects will require extensive support, and this collaboration will create synergies for all parties involved. The aggregate construction budget of GEC® projects under development exceeds $800 million. A reliable financial and construction partner will add tremendous value to the applicable projects.”
“The GEC® project in which PCAP is making its first investment will be significant for the Vancouver community, and we are proud to be a part of it” commented Frederic Bettez, Vice President – Chief Investment Officer of Pomerleau Capital. “Our partnership with GECC enables us to combine our financial resources and construction expertise to develop high-quality student residences. Together, we aim to address the growing demand for student housing while promoting sustainable and innovative construction practices. This collaboration represents a major milestone in our shared vision and will be a concrete way of helping the community. We look forward to the positive impact it will have,” confirmed Mr. Bettez.
About Pomerleau Capital:
Pomerleau Capital is Pomerleau’s financial arm specializing in the investment and financing of infrastructure, energy transition, and building projects. The Pomerleau Capital team is dedicated to the development of investment opportunities, project financing, and asset management. To date, Pomerleau Capital has structured over $5 billion in financing for large-scale, complex infrastructure projects. Pomerleau Capital manages a portfolio of over $500 million in assets, particularly through its Real Assets Fund, which focuses on projects contributing to the development of healthy, sustainable communities. For more information on Pomerleau Capital, visit https://pomerleau.ca/en/pomerleau-capital.
About GECC:
GECC is one of Canada’s largest education and student housing investment companies focused on the domestic and global education market since 1994. GECC operates business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 40 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (established in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology Corp. GECC offers over 150 educational programs in healthcare, business management, e-commerce, cyber-security, hotel management, emergency paramedic, and language training through these schools.
GECC owns Global Education City Holdings Inc. (“GECH“), an investment holding and development company focused on education-related real estate, such as student-centric rental apartments and education super-centres. In fiscal 2024, GECH held nine projects comprising 14 buildings in operation and different stages of development under the GEC® brand in Metro Vancouver. GECH provided accommodation services to 95 partner schools serving students arriving from across Canada and 79 countries. The total portfolio and development budget under the GEC® brand exceeds $1.3 billion.
GECC also owns Global Education Alliance Inc. (“GEA“) and Irix Design Group Inc. (“IRIX“). GEA recruits international students for elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate video at www. GEChq.com.
In fiscal 2024, GECC serviced over 12,500 domestic and international students through its educational, rental housing and recruitment subsidiaries.
For more information, contact:
Toby Chu
Chairman, President & CEO
Global Education Communities Corp.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com
SOURCE: Global Education Communities Corp
View the original press release on accesswire.com
FAQ
When did GECC complete its investment agreement with Pomerleau Capital Inc. (GECSF)?
The investment agreement was completed on November 20, 2024.
What is the total construction budget for GECC’s (GECSF) projects under development?
The aggregate construction budget of GEC® projects under development exceeds $800 million.
What is the scope of the partnership between GECC (GECSF) and Pomerleau Capital?
Pomerleau Capital will invest in and co-develop GECC’s partnership project, with plans to extend this model to other GEC® student housing properties in Metro Vancouver.
