Partnership involves $135M project to develop student housing across Metro Vancouver

Vancouver, BC – Global commercial real estate advisor,Avison Young, is pleased to announce the successful facilitation of strategic investment and cooperation agreements between Global Education Communities Corp. ("GECC") (TSX: GEC, OTCQX International: GECSF) and Pomerleau Capital Inc. ("PCAP").

The agreement, finalized on November 20, 2024, is part of a broader collaboration aimed at developing student housing properties across Metro Vancouver. This partnership involves a $135 million project, representing a significant part of GECC’s ambitious $800 million development portfolio aimed at enhancing educational infrastructure and community growth.

"We are thrilled with the opportunities this partnership with PCAP presents,” said Toby Chu, Chairman, President, and Chief Executive Officer of GECC. “Avison Young, through the expert guidance of Jason Mah and his team of Brendan Hannah and Karly Degroot, has been instrumental in aligning our development goals with the right strategic partners, ensuring a robust and scalable collaboration."

This investment by PCAP will leverage their substantial construction resources to meet the burgeoning needs of GECC’s student housing projects, enhancing the educational infrastructure, and supporting community development in Vancouver.

"Creating lasting partnerships that drive community and educational advancements is at the heart of what we do at Avison Young”, said Jason Mah, Principal, Avison Young. “This is a prime example of how strategic alignments can create substantial value for all stakeholders involved, including the broader community – and we look forward to watching student housing flourish in Vancouver, thanks to these partnerships."

The collaboration between GECC and PCAP is expected to significantly bolster student housing options in Vancouver, reflecting both entities' commitment to sustainable development and educational excellence.