| November 2, 2006 |
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TransGlobe cross-country expansions launches firm into New Brunswick rental market. |
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Saint John –NB– November 2, 2006 –TransGlobe Property Management, Canada’s forward-thinking property management leader, continues its coast-to-coast expansion, breaking into its fifth province with today’s acquisition of 13 residential apartment buildings in Saint John.
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Today’s purchases represent five separate deals and mark the company’s entry into the port city’s residential market. This acquisition adds another 339± units to the company’s residential portfolio, which now stands at over 18,500 units from coast to coast. |
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As New Brunswick’s largest municipality, Saint John’s vibrant community, growing population and increasing multicultural mix makes the city an attractive place to live and work. Home to the spectacular Bay of Fundy, Atlantic Canada boasts some of Canada’s most beautiful natural wonders. |
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“We are delighted to expand our holdings and join the Saint John rental market. Saint John is a wonderful place to live. These purchases represent a strategic move in our goals for further expansion nationally,” says TransGlobe President Daniel Drimmer. |
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This move is a true reflection of TransGlobe’s aggressive cross-country expansion plans. Only two weeks ago the property management giant landed a deal which launched the company into the Alberta rental market, garnering 360 residential units and 65,000 sq. ft. of commercial office space. |
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Since the company’s inception 12 years ago, TransGlobe has established roots in five provinces, which includes major population centres such as Halifax, Ottawa, Cornwall, the GTA, Burlington, London, Calgary, Vancouver and Victoria. |
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The buildings are located at:
· 155 Mystery Lake Drive, Saint John
· 411 Ellerdale Street, Saint John
· 1 Alpha Place, Saint John
· 5 Alpha Place, Saint John
· 4 Rockhaven Place, Rothesay
· 6 Rockhaven Place, Rothesay
· 5 Sierra Avenue, Rothesay
· 7 Sierra Avenue, Rothesay
· 9 Sierra Avenue, Rothesay
· 14 Sierra Avenue, Rothesay
· 16 Sierra Avenue, Rothesay
· 18 Sierra Avenue, Rothesay and
· 20 Sierra Avenue, Rothesay
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The properties are ideally located. Mystery Lake is close to the shopping district; Alpha Place is within walking distance of the University of New Brunswick and St John Regional Hospital; and the Rockhaven and Sierra properties are situated in a desirable bedroom community. |
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As advocates for affordable housing, TransGlobe aims to provide viable options to renters who seek quality, affordable accommodations within their community. |
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“We look forward to serving our new tenants and providing them with the exceptional service the company is known for. We fully embrace the concept that affordable housing shouldn’t compromise quality. We will continue to provide our tenants with the highest level of service by meeting and exceeding their expectations,” says Leonard Drimmer, TransGlobe CEO. |
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Like most TransGlobe properties, the buildings are slated for full interior and exterior renovations. The move to upgrade the properties is a smart decision by the property owners who understand that building enhancements improve the lives of tenants, which in turn supports the company’s overall tenant retention strategy. |
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Ownership and management of the properties begin 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 18,500 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 416-234-8444 ext. 1920 or email bhajdu@GOtransglobe.com. |
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