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| August 3, 2006 |
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TransGlobe triumphs the Greater Ottawa Region rental market with the acquisition of 12 apartment buildings |
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Ottawa –ON – August 3, 2006 –TransGlobe Property Management Services announced that it will continue to expand into new territories in the Greater Ottawa Region’s rental market with the purchase of 12 residential properties in Ottawa, Vanier and Nepean, Ontario—with more to follow in the near future. The ownership and management of the properties begin today. |
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Today’s acquisition adds 555± apartment suites, consisting of bachelor, 1, 2, 3 and 4 bedroom – and penthouse – units to the company’s every increasing portfolio. |
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The buildings are located at:
1917 St. Laurent Boulevard, Ottawa
1919 St. Laurent Boulevard, Ottawa
50 Selkirk Street, Vanier
350 Mayfield Avenue, Vanier
344 Dundas Street, Vanier
360 Dundas Street, Vanier
1664 Woodroffe Avenue, Nepean
1668 Woodroffe Avenue, Nepean
5 Majestic Drive, Nepean
7 Majestic Drive, Nepean
9 Majestic Drive, Nepean
11 Majestic Drive, Nepean
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The Greater Ottawa Region has a solid rental market and today’s purchase is of great significance to the company; it is TransGlobe’s first acquisition in Ottawa, Nepean and Vanier. The purchase also complements the Kanata and Cornwall holdings, further strengthening its regional portfolio. |
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Together, these 12 buildings further solidify the firm’s overall portfolio of more than 15,000 apartment suites and over 4.2 million square feet of commercial space.
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“We are delighted to have such a significant presence in the Greater Ottawa Region and expect future growth in this desirable area. The nation’s capital is rich with history, culture and diversity. Ottawa is one of the most beautiful regions in the nation and boasts rivers, lakes and plenty of natural scenery for residents to enjoy. |
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“Vanier also has lots of parks along with the beauty of the Rideau River and is well-known for the charm of its rich francophone culture; and Nepean residents are known to have a distinct sense of community,” says TransGlobe President Daniel Drimmer. |
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As part of the company’s core philosophy, TransGlobe has built a reputation for providing affordable housing without compromising quality of lifestyle. |
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“The Greater Ottawa Region is a desirable place to live and work and we want to afford our tenants the option of quality, affordable living. It has been a main staple of the company since our entry into the market 12 years ago and it will continue to be a part of our mandate, “notes Leonard Drimmer, TransGlobe CEO. |
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As is the case with most TransGlobe properties, the buildings will undergo major renovations including landscaping, unit and common area upgrades, which will in turn, improve the lives of residents and enhance the appearance of the place they call home. |
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About TransGlobe Property Management: TransGlobe Property Management is the landlord for multiple industrial, commercial and residential properties from coast-to-coast. Locations include Halifax, Ottawa, Cornwall, the GTA, Burlington, Kitchener-Waterloo, London, Vancouver, Victoria and other major population centres. |
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With more than a decade of management experience, a portfolio that includes approximately 15,000 apartments and over 4.2 million square feet of commercial space, TransGlobe is dedicated to property management with integrity. |
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If you would like more information about this topic, or to schedule an interview with Daniel Drimmer, President or Leonard Drimmer, CEO, please call Brenda Hajdu at 416-234-8444 ext. 1920 or email bhajdu@GOtransglobe.com. |
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