| October 31, 2006 |
| |
New GTA residential building acquisition part of TransGlobe’s growth strategy in Region. |
| |
Toronto –ON – October 31, 2006 –TransGlobe Property Management continues to build its residential holdings in the GTA with today’s acquisition of a multi-unit apartment building purchase situated in the city’s Glenfield community. |
|
The property, located at 2020 Sheppard Avenue West, adds another 205 units to the company’s remarkable residential portfolio of over 18,000 apartments. |
| |
As Canada’s economic engine, Toronto residents enjoy quality living, a solid economy and a wealth of amenities in one of the most enviable cities in the world. With a vibrant rental market, it is not surprising that TransGlobe has set its sights on expanding the company’s portfolio in this desirable region. |
| |
The building has beautiful views of the city, is minutes away from Hwy 401 and Hwy 400, and conveniently located to all amenities including Humber River Regional Hospital, York University, Humber College and various area schools, shopping facilities and parks. |
| |
Upon takeover, the building is slated for full upgrades which will include completely renovating the interior (common areas) and exterior of the building. |
| |
TransGlobe’s reputation for transforming under-managed properties into valuable assets is a trademark of the company. This initiative often changes tenants’ perception of their building as the transformation makes the building more welcoming and evokes feelings of safety and security. |
| |
“We have been steadily growing our portfolio in the GTA and are delighted to add this property to our sizable GTA holdings. Toronto is a wonderful city to live in and its diverse communities make it that much better. We are proud to be able to provide GTA renters with rental options to accommodate various lifestyles and family sizes,” says Daniel Drimmer, TransGlobe President. |
| |
In addition to building upgrades, the residents of 2020 Sheppard Avenue West can also look forward to the first-rate service standards that have become synonymous with TransGlobe. The company has made service number one by delivering quick response times to maintenance requests and tenant issues. No where is this more evident than in TransGlobe’s implementation of a round-the-clock Customer Care Centre, where tenants and prospective tenants can have their service and information needs met any time of the day, seven days a week. |
| |
“Renters in this city share the same vision: they want a landlord who cares enough to provide them with a clean, safe and affordable place to live. Our plans to fully upgrade this building, while still renting suites at affordable rates, will improve the lives of our tenants and give them the peace of mind renters seek,” says TransGlobe CEO Leonard Drimmer. “Moreover, it will beautify the neighbourhood and have a positive effect on the community overall.” |
| |
TransGlobe’s ability to combine high technology, rapid response to tenant issues and uncompromising professionalism has won the company unmatched tenant loyalty, industry wide. |
| |
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 18,000 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. |
| |
| |
|
