| February 8, 2007 |
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TransGlobe further solidifies roots in Alberta rental market with a 6-building acquisition in three cities totaling 316 apartments. |
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Calgary–AB– February 8, 2007 –TransGlobe Property Management continues expansion in the Alberta market with the acquisition of five residential properties in three cities totaling 316 apartment units.
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This purchase reflects TransGlobe’s ongoing strategy of expanding and diversifying its portfolio in Western Canada and is the second purchase made by the Canadian property management company in the region this year alone. The first purchase closed merely two weeks prior on January 25th with three properties in Vancouver. |
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These acquisitions demonstrate the company’s promise to considerably expand its presence in Western Canada. |
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The properties consist of 1, 2 and 3 bedroom units, and like all TransGlobe properties, tenants will enjoy affordable rental rates in safe, well-maintained and well-managed apartment buildings. |
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The buildings are located at: |
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4501 37th St. NW, Calgary, Alberta
4505 37th St. NW, Calgary, Alberta
4505R 37th St. NW, Calgary, Alberta
915-44TH Street SE, Calgary
2201 32nd St. S, Lethbridge, Alberta
407 5th Ave, SE, Medicine Hat, Alberta
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"The entire nation speaks of Alberta as a hot spot and we are proud to be expanding into two new cities in the Province. Now that we have built critical mass in Alberta, we are looking forward to further growth," comments TransGlobe President Daniel Drimmer. |
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As usual, TransGlobe intends to invest a significant amount of capital into the properties. Interior and exterior renovations are scheduled to commence immediately all with the lifestyle needs of the tenants in mind. |
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The buildings are situated in solid rental areas and offer renters a variety of living options at affordable rates. The acquisition, adds to TransGlobe’s extensive portfolio of rental properties throughout the country. |
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"We are very pleased to be breaking into two new cities (Lethbridge and Medicine Hat), and look forward to showing our new tenants the high service standards that define TransGlobe. |
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TransGlobe’s commitment to high service standards can be seen in its implementation of a 24-hour, 7-day-a-week Customer Care Centre where tenants can have their maintenance requests or tenant issues handled any time of the day or night by qualified TransGlobe agents in 11 different languages. |
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Ownership and management of the properties begins today. |
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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 over 21,500 apartments and more than 5 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 416-629-6844 or email
bhajdu@GOtransglobe.com. |
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