Chicago, IL, September 08, 2013 --(PR.com
)-- Each year the Inc. 500|5000
releases their annual list of the top companies in America and Pangea Properties, a private real estate investment trust (REIT), has made the list in their first year of eligibility. Overall the company ranked 42nd and in the real estate industry as a whole placed second. For the Chicago market, Pangea Properties was listed as the number one company.
CEO Al Goldstein of Pangea Properties attributes the company’s success to having a strong presence in the communities they serve. “We have had a great past three years; when most companies in our industry were cutting back, Pangea steadily recorded employment growth,” says Goldstein. “We still have a tremendous amount of upside and growth ahead of us. We have added nearly 100 employees since we first applied for this award.”
Pangea’s business model focuses on adding value to underserved communities by completely renovating buildings, often in small clusters or on the same block, to create a sense of community and provide greater stability. “We add value over the long-term by providing sturdy and reliable construction and updated amenities such as modern appliances, hardwood floors and on-site laundry, all at an affordable price,” says Goldstein. In addition to adding value for residents, Pangea has also focused on bringing prosperity to the community as a whole by employing local residents and creating job growth.
As the newly minted number one company in Chicago, Goldstein adds that the fierce and growing competition in the Windy City makes winning the award all the sweeter. “We are thrilled to have earned the number one spot as there are a lot of great companies, both seasoned and first starting up, in Chicago,” explains Goldstein. “Chicago is becoming a hotbed for the startup community and the competition is continuing to grow.”
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.