TransGlobe continues to make major additions to its portfolio – placing a foothold in the Niagara region with the purchase of 7 residential buildings with a total of 541± rental suites
Mississauga , Ontario – January 18, 2008 – TransGlobe Property Management Services announced today the acquisition of 541± residential suites in seven Ontario-based buildings located at:
· 221 Glenride Avenue , St. Catharines
· 363, 351 Geneva Street , St. Catharines
· 276, 278, 274 Cedar Avenue , Richmond Hill
· 100 Lancaster Drive , Welland
This is already TransGlobe's fifth acquisition since the start of 2008. The firm has taken on a strategy of expansion and diversification in hopes of providing its resident-oriented style of property management to renters across Canada .
“We have certainly made great strides in expanding our presence on a national level over the past few months,” commented Daniel Drimmer, TransGlobe's President. “We are excited to say we now have a significant presence in the Niagara region, including high-rise buildings for residents to select from." Daniel continued “these buildings allow us to strengthen our portfolio locally and add two new communities to the TransGlobe family Welland and Richmond Hill .”
Both Welland and Richmond Hill represent attractive new investment opportunities for TransGlobe, as their need for quality rental-housing stock is set to increase in the coming years. Welland 's - due to its strong and diverse economy, based on steel fabrication and manufacturing industries and more recently call centers, because of its high degree of bilingualism. Richmond Hill 's - because its population growth rate upwards of 20% is among the highest in all of Canada .
Renters in both Welland and Richmond Hill will reap the benefits of TransGlobe's decision to expand into these areas. The firm has become well known for not only renting out great suites, but also rejuvenating entire communities. It plans to modernize the buildings inside and out, provide their residents with its trademark resident-care services and work closely with the local communities to promote mutually benefiting tenant-landlord relations.
“We strive to offer what perhaps every renter really looks for, which is quality at an affordable price,” commented Daniel Drimmer. “We certainly see a lot of potential in these properties and as we do with all new acquisitions, we will immediately begin work on bringing them up to TransGlobe's quality standards. We like to make sure that our residents get the absolute most out of their TransGlobe experience.”
Further expansion of TransGlobe's portfolio across Canada is expected.
About TransGlobe Property Management Services
TransGlobe is the proprietor of multiple industrial, commercial and residential properties across Canada . Their locations include a number of major population centers in British Columbia , Alberta , Ontario , Quebec , New Brunswick , Prince Edward Island and Nova Scotia .
With a portfolio of over 26,000 rental suites and more than 5.2 million square feet of commercial space, TransGlobe is one of the largest property management companies in Canada . With aspirations of providing quality rental options to as many Canadians as possible, the company has adopted a firm strategy designed to further expand and diversify its presence from coast to coast.
Backed by over a decade of experience and a philosophy of property management with integrity, TransGlobe remains equally focused on customer service. All of its residents enjoy the benefits of a 24/7 Customer Care Centre as well as dedicated maintenance teams, both designed to provide them with an unsurpassed rental experience. www.GOtransglobe.com |
