“I sold my company on November 15,” the 23-year-old man said on the phone about FCS Capital, whose offices are located on Avenue de Grand-Mère.
He says it wasn’t the controversies that got the better of him.
“It’s mainly because I had a kidney transplant and want to focus on my health and the private loan.”
Remember that at least two of its buildings caught fire. He was also singled out for rent increases or evictions, before more recently a building found itself without heating in November. He said that at that time, FCS Capital had been sold.
The FCS Capital building, in the Grand-Mère sector. (Amélie St-Yves/Le Nouvelliste)
More than twenty buildings which still belonged to FCS Capital are now owned by the Matte et Fils and Sherbrooke Trust, represented by Mwenda Miyulu. The transaction would also include Plaza 1 d’Alma in Saguenay-Lac-Saint-Jean, of which FCS Capital now owned 10%, according to Mr. Côté. He also claims that he did not know Mwenda Miyulu before the sale of his business.
An emergency line was set up by the new owners to meet the needs of Shawinigan tenants.
“We have to give the runner a chance,” said Pascal Thibault, who answered calls Thursday.
At Logis-Aide, we just don’t want to change four quarters for $1.
“I’m just going to see if the person who took the reins will continue to do the same pattern as Frédéric Côté. If he’s a better owner, so much the better. If it’s the same thing, it won’t change much, it’s still going to be a battle to have,” says Logis-Aide project worker Katherine Beaulieu.
A tenant of Frédéric Côté, contacted by The News writer Thursday, has the impression that there is something fishy under the rock.
“It’s a pseudonym in my opinion. This is not true. […] When they are in poverty, they change their name,” said a suspicious elderly man.
He would like to move, and says he is confident.
“I’m used to it… It’s just that I’m getting old. I’m tired.”
4th rue de la Pointe
Frédéric Côté is still responsible for the site where a pile of debris sits, following the fire that occurred on October 15 on 4th rue de la Pointe. Because it was a debt that he had taken over, it is still the responsibility of Rockfello, which remains its property.
Piles of debris still litter 4th rue de la Pointe, in Shawinigan. (Amélie St-Yves/Le Nouvelliste)
He mentions that the debris will not continue to litter the ground for long. The cleanup will begin before the holidays, he said.
“Basically, we are just waiting for the insurance companies to approve the demolition submissions.”
Something new
Frédéric Côté is not putting an end to real estate forever, but the desire to take over cheap buildings is over. If the opportunity presents itself, it will be “either new or very recent.”
In the meantime, he doesn’t really know where he will settle, possibly in the Montreal area.
Frédéric Côté increased his real estate transactions in Shawinigan. (Facebook)
What does he remember from his experience in Shawinigan?
“Overall, it was still good. We still renovated a lot of things. It’s a shame that the 3-4 projects that were more complicated got the attention […] I still bought almost 90 buildings in a year and a half. It was always the same 3-4 buildings that came up as having problems. That’s just what I find boring.”
Frédéric Côté remains the owner of some land in Shawinigan.
It was not possible to speak to Mwenda Miyulu on Thursday.
