June 29, 2021
Tribe’s developer tools simplify communication and move-in process for new homeowners at Cascade City
Vancouver, BC – Tribe Property Technologies (TSXV: TRBE) (“Tribe” or the “Company”) is proud to announce its partnership with Landa Global Properties (“Landa Global”) on the completion of Cascade City, a landmark addition to the skyline in Richmond, British Columbia. The 15-storey, 271-unit Cascade City development will join the 40,000-plus homes already utilizing Tribe’s services and solutions.
Landa Global’s team has been using Tribe’s developer suite of products (deficiency management and warranty tools) to help complete its condo and townhouse development located at 5766 & 5788 Gilbert Road in Richmond, BC. Landa Global’s iconic community, with its modern architectural form influenced by the stunning landscape of the West Coast, will be complemented by Tribe’s solutions to digitize the community’s full suite of amenities, enabling them to be viewable and bookable with Tribe’s easy-to-manage amenities feature.
“Tribe’s technology is easy to use and offers huge benefits to both our team and our homeowners for things like construction deficiencies, homeowner walk-throughs and warranty and deficiency management,” said Wayne Pai, Director of Development, Landa Global Properties. “What we appreciate most about Tribe is how their platform connects us, and creates and improves communication channels between our buyers and our customer care team.”
In a bid to simplify the complexities around residential community living, Tribe provides the most comprehensive suite of products and services for building and managing residential communities. This includes technology and services for property developers, owners, councils/boards, tenants and landlords.
“We are thrilled to be working with Landa Global on the digitization of Cascade City; bringing together developers and homeowners, through seamless connection,” said Joseph Nakhla, Tribe CEO. “We believe that technology has a big role to play when it comes to how people experience residential community living, and that starts well before they’ve even moved in.”
Pai adds “With the recent pandemic, community and the idea of home has become more important than ever. Creating community has always been a key focus for us, not only in our design and architecture, but in landscaping, amenities, culture and technology. Technology like Tribe’s helps bring people together in a way that genuinely enhances the experience of community that we offer in our developments.”
During the last year, 75% of Tribe’s clients surveyed, said that the company’s technology had been an important communication tool, with Tribe seeing an organic increase of 10% in community registrations from March 2020.
Further supporting the living experience of Cascade City, Tribe’s property management team will work with Landa Global to offer a seamless transition from move-in to the management of common (strata) property. Tribe typically sees a quicker adoption rate of its technology in brand new buildings (88% at six months of management) compared with buildings coming from other property management companies (74% at six months of management), due to a more complete handover of community data.
Cascade City is scheduled to occupy mid-summer 2021.
About Landa Global Properties:
Landa Global Properties is a Vancouver-based real estate development company that is building a new standard of excellence in luxury residential development.
Landa’s mission is to create timeless properties that enrich people’s lives with the best urban locations, iconic architecture, and inspiring interiors. Every element of the Landa home is focused on liveability through a seamless blend of form and function. Landa is continually searching for new ways to elevate the standard of luxury in its projects and complement communities through exceptional design and thoughtful planning.
About Tribe Property Technologies:
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe’s business is composed of three revenue pillars: software and services (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnerships (smart building products, financial and insurance service).
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF THE BOARD
Chief Executive Officer
Tribe Property Technologies Inc.
Chief Executive Officer
1155 West Pender Street, Suite 419
Vancouver, British Columbia
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Tribe Property Technologies
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the aims and goals of the Company; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; and prospective benefits of the Company’s platform. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, proposed acquisitions, proposed success of the Company’s platform, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.