Chicago, IL, August 08, 2013 --(PR.com
)-- While the Baltimore housing market is continuing to show signs of strength, in many neighborhoods distressed multi-family properties are still a dime a dozen. According to Pangea Properties CEO Al Goldstein, the Baltimore housing market is in need of landlords who will properly manage and maintain buildings as a means to stabilize neighborhoods.
Pangea Properties, a private real estate investment trust (REIT) focuses on providing quality and value at an affordable price point and currently operates over 400 units in the Baltimore area. Goldstein explains that Baltimore’s multi-family housing market is comparable to the present status of Chicago’s market and that Pangea is looking to expand and bring their success in the Midwest to the East Coast.
“We own and operate buildings both in Chicago and Indianapolis, but Baltimore has become a prime opportunity to get involved on the East Coast,” says Goldstein. “The infrastructure and issues many neighborhoods are facing is similar to what we have been through in Chicago. Our goal is to renovate clusters of distressed buildings and revamp them into thriving 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 the building manager, utilizing a call center to support the high bar for service and scalability. Today, Pangea has 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 recipient of the Ernst & Young Midwest Entrepreneur of the Year. For more information, visit Pangea online at www.pangeare.com
or on Twitter @PangeaRE.