Pangea Properties Wins 2013 Chicago Good Neighbor Award: Chicago Based REIT Provides Premier Rentals at Affordable Prices

Chicago, IL, May 23, 2013 --(PR.com)-- For the second year in a row, Pangea Properties was a recipient of the 2013 Good Neighbor Award in recognition for their efforts to improve the quality of life for the Chicago community. The annual award presented by the Chicago Association of REALTORS®, acknowledges those who have demonstrated an extraordinary commitment to making the Chicago area a better place to work and live through rehabilitation and redevelopment efforts.

“We are thrilled and honored to receive this award two years running,” says Al Goldstein, President of Pangea Properties. “From the beginning of this venture, our mentality has been to rehabilitate neighborhoods building by building; bringing them back to the thriving communities they used to be.”

Four of Pangea’s buildings won the Good Neighbor Award, including those located at 8000 S. Paulina in Auburn Gresham, 7263 S. Coles in South Shore, 8251 S. Ellis in Avalon Park/Chatham and 3324 Western in Park Forest, IL. In addition, Pangea was one of three top finalists for the Bruce Abrams Good Neighbor Award for their exceptional work at 7263 S. Coles.

Pangea effectively transforms its apartment buildings through drastic restorations and adds value through amenities and services not traditionally available at their affordable price point, including but not limited to: modern appliances, motion sensor security cameras, free heat, on-site laundry facilities and complimentary Wi-Fi capabilities.

“Our goal has always been to provide an ideal rental option for community members that is also within their means,” continues Goldstein. “We’re fixing old or abandoned properties, renting units at affordable prices and providing superior service to rehabilitate the neighborhoods, not overturn them.”

Over the past four years, Pangea has invested over $100 million into renovating more than 250 distressed properties throughout Chicago’s South, Southwest and West neighborhoods. As Pangea continues to expand its footprint in Chicago neighborhoods, the company hopes to invest time and money into properties that will become cornerstones of the community, continually going the extra mile to improve the neighborhoods for their residents and communities.

About Pangea Properties:
Pangea Properties is a private real estate investment trust (REIT) targeting the distressed residential multi-family real estate market. Pangea was founded in 2008 by Al Goldstein and Steve Joung with one mission: to bring service, value and care to its residents. The entrepreneurs saw an opportunity in the Chicago market to create a real estate firm that serves as both the property owner and building manager, utilizing a call center to support the high bar for service and scalability. Today, Pangea has over 5,500 units in the Chicagoland area, over 2,000 units in Indianapolis and over 400 units in Baltimore, with the goal of continuing to expand within current markets as well as into new markets. Pangea has been highlighted by several media outlets including WGN TV, Chicago Magazine and the Baltimore Business Journal, among others. Pangea’s Founder Al Goldstein has been named one of Crain’s 2013 40 under 40 and is a finalist for Ernst and Young’s Midwest Entrepreneur of the Year. For more information, visit Pangea online at www.pangeare.com, www.Facebook.com/PangeaRE or on Twitter @PangeaRE.