| November 9, 2006 |
| |
Grand Avenue acquisition the latest in TransGlobe’s London expansion plans. |
| |
London–ON– November 9, 2006 –TransGlobe Property Management Services is pleased to announce that it has acquired a new residential apartment building in London today. This deal adds to the core of TransGlobe’s South Western Ontario portfolio and demonstrates the company’s commitment to growth in the region.
|
|
The property, located at 102 Grand Avenue, is situated at the intersection of Wellington Road South and Grand Avenue. There is a shopping facility and area schools nearby. As well, the London Health Sciences Centre is less .8 km away.
|
| |
Today’s transaction adds another 46 units to TransGlobe’s residential portfolio of over 18,500 apartment units. Renters can choose from one and two bedrooms suites.
|
| |
Since TransGlobe broke into London’s rental market four years ago, it has been steadily growing in the region. To date, the property giant has amassed over 4,276 apartment units and is recognized as one of London’s biggest landlords. |
| |
"We are proud to be expanding our presence in the heart of South Western Ontario. London has a strong rental market and a growing economy. We are particularly proud that we can continue our tradition of providing affordable housing to London’s renters and future expansion in the region is to be expected," says Daniel Drimmer, TransGlobe President. |
| |
As is the case with most newly acquired TransGlobe properties, the company plans to significantly invest in the building by conducting full interior renovations, which also includes elevator upgrading. This measure alone will have a tremendous impact on the lives of residents. Improvements to the home enhance quality of life; moreover, residents will have a better perception of where they live. |
| |
While the company has become known for its transformation of under-managed properties, it does not seek immediate benefit from the upgrades; rather, it looks at this investment as beneficial over the long run.
|
| |
In addition to the company’s philosophy of providing quality affordable housing to its tenants, TransGlobe puts a service-driven culture at the core of its operations. The residents of 102 Grand Avenue will benefit from a landlord that makes tenant satisfaction and retention a main priority. |
|
In doing so, the company ensures that customer care is a round-the-clock commitment and that tenant issues are handled in a timely, professional manner. TransGlobe’s newest tenants will also be supported by an infrastructure of more than 700 employees and a company that maximizes its use of high technology to provide tenants superior property management solutions. |
| |
"Our goal is to make renting as easy as possible and improve the rental experience of our tenants. The last thing a tenant should be focused on is when they will be getting the service they deserve. We respond to service requests quickly so tenants can get on with more important things," says TransGlobe CEO, Leonard Drimmer. |
| |
Ownership and management of the property begins today. |
| |
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. |
| |
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. |
| |
- 30 - |
|
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. |
| |
| |
|
