| October 31, 2006 |
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Acquisition streak continues with TransGlobe’s latest purchase of twin tower Sarnia apartment buildings adding 170 suites. |
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Sarnia–ON – October 31, 2006 –TransGlobe Property Management is pleased to announce the purchase of two multi-unit residential apartment buildings in Sarnia. This deal strengthens the company’s foothold in South-Western Ontario and its Sarnia holdings.
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Located at 269 Finch Drive and 275 Finch Drive, the properties consist of bachelor, one and two bedroom suites. Upon takeover, the buildings are slated for full interior and exterior renovations. Today’s deal adds another 170± suites to TransGlobe’s residential portfolio of over 18,000 apartment units. |
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“We are happy to be growing our presence in the largest urban community on Lake Huron. Sarnia’s close proximity to Detroit, Michigan is very attractive to the company. The buildings’ demographic is consistent with TransGlobe’s tenant-base and we are proud to offer affordable rental units to Sarnia’s residents,” says TransGlobe President Daniel Drimmer. |
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This purchase is inline with the company’s acquisition strategy to buy mid-market properties and offer them to tenants at reasonable rental rates. The company is also known for renovating its buildings and significantly transforming properties, which in turn, improves the lives of residents and the community overall. |
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TransGlobe has set very high standards for the company. Its residents will benefit from superior security and maintenance standards as well as rapid response to tenant issues. Tenants also gain from a 24-hour, 7-day-a-week in-house Customer Care Centre; a Rental Rewards retention program which rewards tenants for choosing a TransGlobe property; and some of the most highly trained Building Representatives in the industry. |
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“Our goal is to attract tenants to our buildings and to keep them. In doing so, we have set the bar high by ensuring that their needs are met and that we are available to them, whenever they need us. Tenants take heart in the fact that they can make a service request at 3 a.m. in the morning if needed and we take pride in redefining the landlord-tenant relationship,” contends Leonard Drimmer, TransGlobe CEO. |
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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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