Our story
In 1986, Michael Zakuta and Patrick Quinn set up Les Immeubles Plaza with the financial and moral backing of Michael’s father Ken Zakuta. Plaza’s initial mandate was to manage six (6) commercial properties on behalf of the Ain, Scotcher, and Zakuta families. Patrick had acquired retail leasing experience with Ken Zakuta’s construction business Ain & Zakuta and Michael had just graduated from the Université de Montreal law school.
Working out of the offices of the Ain & Zakuta construction company and using their accounting and administrative services for support, Patrick and Michael developed a vision to create a shopping centre business and develop retail properties. In 1986, the shopping centre industry had reached maturity. The enclosed malls had been constructed in any market that was large enough to support the concept and a number of strong and experienced retail development groups competed for new deals. With the desire and ambition to grow their business, Patrick and Michael set out to try to develop retail properties in secondary markets that the strong established industry players were ignoring. They worked to establish relationships with retail chains and convince these retailers to expand into smaller Quebec markets. A strategy to try to treat retailers differently was established and would form the basis for future growth. Slowly but surely and at times painfully, the business grew. New properties were developed or acquired one at a time. Employees were added slowly and carefully and eventually, the Z Corp Group took shape and shed any dependence on the Ain & Zakuta staff and infrastructure.
In 1989, the Z-Corp Group made its first acquisition in Atlantic Canada with the purchase of the University Plaza in Charlottetown, PEI. In 1991 a new partnership was created with Earl Brewer from Fredericton, New Brunswick. Plaza Atlantic Limited was created and the Group’s portfolio grew and diversified across Quebec and Atlantic Canada. In 1999, Earl and Michael launched Plazacorp Retail Properties Limited on the TSX Venture Exchange with 6 properties, $20,000,000 of assets, and a $10,000,000 market capitalization. Over time, the Z-Corp Group rolled most of its property interests into Plazacorp in exchange for shares. This established the Z Corp Group’s ownership position in the public vehicle. In 2014 Plazacorp Retail Properties Limited became Plaza Retail REIT. From its start-up in 1999, Michael has worked to build Plazacorp and then Plaza Retail REIT into a successful developer, owner, and operator of retail properties across Atlantic Canada, Quebec, and Ontario. Today, the Z-Corp Group’s ownership interest in Plaza Retail REIT represents its most important investment. In 2012, Michael joined the Board of Fronsac REIT. At the time Fronsac owned 2 properties with an asset value of $5,000,000. Michael reorganized the REIT and established the “management free” or “Net Net Net ” theme. The Z-Corp Group helped to recapitalize the REIT and supported its growth. The REIT grew steadily and changed its name from Fronsac REIT to Canadian Net REIT in 2021 in order to better reflect its business model.
Over the years, the Z-Corp Group has invested in a variety of real estate projects in Atlantic Canada, Quebec, and Ontario. A number of these investments were property-limited partnerships organized by Plaza Retail REIT. Z-Corp Group has continually acquired units in both Plaza Retail REIT and Canadian Net REIT. The pursuit of real estate investments remains the focus of the Z-Corp Group.
LES HABITATIONS Z-CORP
Les Habitations Z-Corp was created by Louis Zakuta and his father Michael Zakuta to develop small residential rental buildings in the Montreal region and the Eastern Townships.
ZAKUTA FAMILY FOUNDATION
Zakuta Family Foundation was created by Michael Zakuta and his parents Bea and Ken Zakuta to support charities in the area of education, health care, the Jewish community, and other community causes in the Montreal region and the Eastern Townships.