Taylor Johnson Now Represents Pangea PropertiesApril 30, 2021
I am pleased to announce that Taylor Johnson now represents Pangea Properties and its brands, including Pangea Real Estate, a Chicago-based private real estate investment trust (REIT). Pangea Real Estate specializes in the acquisition and renovation of value-add multifamily properties in lower-to-middle-income, underserved communities where quality, affordable housing options are virtually nonexistent.
Pangea was founded in 2008 by Al Goldstein who saw an opportunity to provide quality, affordable apartments to the working tenant. The REIT focuses on value-add, urban, scatter-site rental properties and in the past 12 years has grown its portfolio to include 13,000 apartments in Chicago, Indianapolis and Baltimore.
Led by Peter Martay, chief executive officer and chief investment officer, Pangea stands apart from competitors through its personal relationships, established portfolios, hyperlocal presence and automation. Unlike a traditional REIT, the company takes a more hands-on, in-house approach to real estate investment, from purchase to financing to management. It is dedicated to providing a high-touch experience that is unparalleled in the neighborhoods it serves.
Programs for Pangea Real Estate’s residents include online rent payment, Pangea Loyalty Rewards, Pangea Perks, Pangea Good Samaritan Discount (for police and other community servants), giveaways, awards for referrals and resident events. The average residency is 26 months and almost 10% of residents stay in Pangea buildings for more than three years.
Typically for every dollar spent acquiring a property, Pangea Real Estate spends an equal amount renovating it with modern amenities. To date, it has invested more than $500 million in the approximately 500 buildings in its current portfolio. The firm invests not only in individual properties, but also the neighborhoods it calls home through its “Pangea Cares” volunteer program, a 501(c)3 nonprofit that supports communities in three areas: food and nutrition, education, and development. Since the inception of Pangea Cares, employees have contributed more than 9,200 hours of service. Pangea also promotes job growth in its communities, many of which struggle with high unemployment, by hiring local residents to be part of its growing team.
Pangea was named one of “America’s Most Promising Companies” by Forbes magazine in 2015; made the annual Inc. “500 | 5000” list from 2013 through 2017; was named one of Crain’s Chicago Business’ “Fifty Fastest Growing Companies” for three consecutive years; has been named a Chicago Tribune “Top Workplace” for six years in a row, from 2014 to 2019; and received the “Best Community Service Program” award from the Chicagoland Apartment Association in 2018 and 2019.
In addition to Pangea Real Estate, Pangea Properties’ brands include Pangea Mortgage Capital, founded in 2017, which has completed over $300 million in bridge lending nationally across all real estate classes with an emphasis on major MSAs; Motus Construction, a licensed GC specializing in multifamily rehabs in Illinois, Wisconsin, Maryland and Indiana; and Lumen Property Management, which offers a full range of property management services to outside property owners with clients in those same states.
Topics Pangea Real Estate leaders can speak on include:
- Creating, maintaining and growing workforce housing/naturally occurring affordable housing
- Value-add investments
- Urban and scatter-site property management
- Best practices in renovating and leasing formerly distressed rental properties in underserved communities
- Resident recruiting, retention; loyalty programs; resident events
- Public/private partnerships for workforce housing
- Neighborhood outreach
- Employee volunteerism
We look forward to sharing news and updates about Pangea Properties in the months ahead. For more information on the company and its growing portfolio, please visit www.pangeaproperties.com, or contact Matt Baker at Taylor Johnson at (312) 267-4512 or firstname.lastname@example.org.
Emily Johnson, President
PANGEA REAL ESTATE – CORPORATE FACT SHEET 2021
Peter Martay, Chief Executive Officer and Chief Investment Officer
Patrick Borchard, Chief Financial Officer
Derek Reich, Vice President of Operations
Scott Larson, Vice President, Pangea Mortgage Capital
Arun Das, Head of Marketing & Technology
Key Facts – Corporate Level:
Total employees: 460
Investments: Almost $500 million over the past 12 years
Headquarters: 549 W. Randolph St., 2nd Floor, Chicago, IL 60661
Pangea Real Estate is the property management arm of Pangea Properties, a Chicago-based private real estate investment trust (REIT) founded in 2008 by Al Goldstein to provide quality, affordable housing. Pangea acquires value-add apartment buildings and renovates them as workforce housing. It has invested almost $500 million over the past 12 years to acquire and rehabilitate approximately 13,000 units in Chicago, Indianapolis and Baltimore — improving neighborhoods block by block and catalyzing nearby development.
Pangea stands apart from competitors through its established portfolios, hyperlocal presence, high-tech resident portals and other automation, as well as personal relationships. At a time when most U.S. cities face a workforce housing shortage, Pangea has committed to this housing sector, holding assets for the long term — Pangea has sold very few of its 519 buildings over its 12 years. The average residency for tenants is 26 months and almost 10% of residents stay in Pangea buildings for more than three years.
Programs for residents include online rent payment, Pangea Loyalty Rewards, Pangea Perks, Good Samaritan Discount (for police and other community servants), giveaways, awards for referrals and resident events. Through Pangea Cares, a 501(c)3 nonprofit, the company focuses on supporting the communities it serves in three areas: food and nutrition, education, and development. Since the inception of Pangea Cares, employees have contributed more than 9,200 hours of service. Pangea also promotes job growth in its communities, many of which struggle with high unemployment, by hiring local residents to be part of its growing team.
Key Facts – Property Level
Pangea owns 519 buildings:
- 72% are in Chicago
- 23% are in Indianapolis
- 5% are in Baltimore
Properties include 16 communities
- Two in Chicago
- 11 in Indianapolis
- Three in Baltimore
Pangea owns 503 buildings in Chicago and Baltimore that are not within communities
- 86% of these buildings have 30 units or fewer
- Properties are mostly urban, value-add, scatter-site workforce housing with as few as two units per building
- Properties in the Chicago area are primarily on the city’s South Side, with some in the south and southwest suburbs, such as Riverdale and Park Forest.
61% of Pangea Real Estate’s Illinois employees live within neighborhoods in which Pangea owns and operates.