Chicago, IL, June 12, 2013 --(PR.com
)-- While employment levels are finally starting to rebound after reaching their lowest levels in years, some companies are aiming their efforts where it matters most-their own backyard. Pangea Properties, a private real estate investment trust (REIT) headquartered in Chicago, is creating jobs within the communities they serve and benefiting the local economy where unemployment rates have hit hard.
Al Goldstein, President of Pangea Properties explains that in the past three years alone, Pangea has had tremendous growth while most companies across the country were cutting back. “We have grown from 25 employees in 2010 to employing over 300 people,” says Goldstein. “Many of our core communities have unemployment rates as high as 16%; we have made a conscious effort at creating job opportunities in the communities where we have a presence.”
The majority of the distressed properties Pangea renovates are located in lower-middle income neighborhoods with high unemployment rates, including South Shore, Auburn Gresham and Chatham, to name a few. With Pangea’s rapid growth and investment in the community Goldstein adds that many people who live in these areas are then able to obtain local job opportunities with Pangea such as call center roles, janitorial, maintenance, property management and leasing agent positions. “As our company grows we are looking to add more job positions within these neighborhoods,” says Goldstein. “In particular we are delving into areas that are in need of increased stability. We are thrilled to be in a position to provide continued employment opportunities to a great pool of skilled labor and people ready to work hard.”
For more information on this topic or to schedule an interview with Pangea Properties President Al Goldstein, please contact me directly. Full employment statistics are available upon request.
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 invested over $250 million into 8,000+ apartment units throughout Chicago, Indianapolis and 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.