| October 12, 2006 |
|
|
TransGlobe continues aggressive expansion in Ottawa’s residential rental market. |
| |
Ottawa –ON – October 12, 2006 –TransGlobe Property Management Services is taking the Ottawa Region rental market by storm with the acquisition of 13 multi-unit residential properties – totaling 572 apartment suites – in Ottawa and Brockville, the company announced today.
|
|
This marks the company’s entry into the Brockville rental market and the continued expansion of its Ottawa holdings. |
| |
The buildings are located at:
- 4 Cartier Court, Brockville
- 8 Cartier Court, Brockville
- 14 Cartier Court, Brockville
- 16 Cartier Court, Brockville
- 1390 Kensington Parkway, Brockville
- 1400 Kensington Parkway, Brockville
- 1410 Kensington Parkway, Brockville
- 550 Cote Street, Ottawa
- 555 Cote Street, Ottawa
- 1435 Morisett Avenue, Ottawa
- 1455 Morisett Avenue, Ottawa
- 1825 Russel Road, Ottawa
- 525 Wentworth Avenue, Ottawa
|
| |
The City of Brockville, described in 1838 by Lt. Col. Charles Gray as “the prettiest village…in Canada,” is home to the 1000 Islands and is a great place to live and visit. As one of Ontario’s oldest communities, its rich history can be seen in its architecture, museum and charming communities. |
| |
“We are fulfilling our promise of significant expansion in the Ottawa Region and are delighted to bring the City of Brockville into the mix. It is an ideal place to live for people who love country living but want to work in the city,” says TransGlobe President Daniel Drimmer.
|
| |
In addition to nearby schools and shopping – the 1000 Islands Mall is less than a mile away – the Brockville apartments are within two miles of three hospitals. |
| |
The Ottawa purchase strengthens TransGlobe’s hold in the Ottawa rental market and complements several other properties in Ottawa, Kanata, Vanier and Nepean. |
| |
Only two months ago, TransGlobe took the Ottawa Region by storm with the purchase of 12 properties, adding another 555± apartment suites to the company’s portfolio in a single transaction. That’s 25 buildings purchased since August, 2006. Today’s purchase hikes the company’s Ottawa Region holdings to approximately 1500 suites.
|
| |
“There are numerous benefits to living in the nation’s capital. Not only is it a great city in which to live and work, but it boasts some of nature’s most beautiful scenery in addition to the breath-taking lakes and rivers. With a vibrant rental market, it continues to be one of TransGlobe’s most sought-after regions,” contends Leonard Drimmer, TransGlobe CEO. |
| |
A hallmark of the company, each unit will be rented at affordable rates which are well within the reach of its tenant base. |
| |
Ownership and Management of the properties begin 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 16,000 apartments and more than 4.5 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. |
| |
| |
|
