G2S2 Capital Inc. Purchases $600 Million of Secured Debt of Ravelin Properties REIT from Lenders
HALIFAX, NS, March 31, 2025 /CNW/ - G2S2 Capital Inc. ("G2S2") announces today that it has completed the purchase of approximately $600 million of the indebtedness and obligations of Ravelin Properties REIT ("Ravelin", "the REIT") under the syndicated loan for which Bank of Montreal acted as agent, and certain bilateral loan agreements previously held by Royal Bank of Canada. The transaction comes on the heels of the REIT's internalization of management and the addition of several highly qualified independent trustees.
"Over the past several months, we have worked closely with the REIT's lenders to facilitate a restructuring of the REIT's secured debt. Ultimately, it is our view that the best path forward was for G2S2 to step in as a secured lender while the assets are stabilized, at least for the time being," said George Armoyan, Executive Chairman of G2S2. "Now we can focus on working along with the internalized management team to restore value to the REIT's assets and create value for all stakeholders."
"We are happy with the progress made by Shant Poladian and his team," added Mr. Armoyan. "Although there is still much work to be done, we are beginning to see improvement across the portfolio, which is encouraging."
This transaction marks a significant increase in G2S2's private credit portfolio. Together with a series of commercial real estate acquisitions recently made by its wholly-owned subsidiaries, Armco Alberta and Armco Quebec, G2S2 is committed to this counter-cyclical strategy. "We have been investing in real estate for over 40 years, and we have seen many cycles come and go. Right now, there are some incredible opportunities in many North American markets, if you know where to look. While others are sellers, we are buyers," said Mr. Armoyan. "We intend to keep expanding and growing our team in order to take advantage of this environment. I encourage anyone who is talented, hardworking, and ambitious to apply to join our team."
About G2S2
G2S2 Capital Inc. is a privately held investment holding company focused on creating value across a variety of businesses with a long-term horizon. G2S2 is incorporated under the laws of Canada. G2S2 is controlled by George & Simé Armoyan.
SOURCE G2S2 Capital Inc.
