Tribe Property Technologies Expands In Kootenay Region As Residential Demand Rises
Tribe is a property management company. Of the society financial results for the second quarter of 2021 posted revenue of $ 3.97 million, an increase of 244% over the same period last year.
According to its CEO, Joseph Nakhla, the acquisition of PHMG is part of Tribe’s strategy to expand into new markets. “This agreement is indicative of our M&A team’s execution in this space – and takes full advantage of the work that has been done by our integration team over the past two quarters,” said Nakhla.
“We continue to seek opportunities to expand our presence through acquisitions in Canada and abroad. With an increased presence in the growing Kootenay region, including the addition of field staff, we will be well positioned to add new activities to the region. . “
With over 40,000 housing units under management and over 100,000 people living in tribal-managed communities, the acquisition will increase the company’s reach in economic regions of British Columbia. Tribe is currently present on the Mainland / Southwest, Vancouver Island / Coast, Thompson / Okanagan, Cariboo and Kootenay. Tribe’s acquisition of PHMG is expected to close on September 30, 2021.