Tribe has rebranded its recently acquired subsidiary, DMSI Holdings, consolidating its service divisions under the name "DMS".
With the successful acquisition of DMS, Tribe is now the second largest multi-family rental management company in Canada, encompassing over 19,000 units and 22 million square feet, while expanding its comprehensive service offerings in property management across Canada1. This is in addition to more than 40,000 units managed by Tribe's Strata and Condo teams nationally.
VANCOUVER, BC, Aug. 22, 2024 /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) ("Tribe" or the "Company"), a leading provider of technology-elevated property management solutions, is pleased to provide an update on the acquisition and rebranding of its recently acquired subsidiary, DMSI Holdings Ltd. ("DMSI"). Tribe is proud to announce that it has rebranded and unified all of DMSI's various service divisions under the name DMS. To strengthen its presence across Canada, Tribe has also begun the expansion of DMS's service offerings to Tribe's current customer base of Strata and Condo Corporations, Investor-Owners and Property Developers, expanding its comprehensive service offerings across Canada. With the recent acquisition of DMS, Tribe is now the second largest multi-family rental management company in Canada, encompassing over 19,000 units and 22 million square feet, in addition to more than 40,000 strata and condo units managed nationally.
DMS rebrands logo for property services including multi-residential, retail, industrial, office, and land management, and capital project management, as part of recent acquisition by Tribe Property Technologies and national expansion of services. (CNW Group/Tribe Property Technologies Inc.)
Joseph Nakhla, CEO of Tribe, commented, "We are pleased with the progress of our recently acquired subsidiary, DMSI Holdings, and its rebrand and service expansion under the unified DMS brand. This rebranding marks a significant milestone in our growth strategy, allowing us to provide a unified service offering across Canada while continuing to build upon our position as a leader in property management. Tribe's collective services now include strata and condo management, multi-family property and REIT rental management, student housing, commercial property management, single-unit and rental portfolio management, and project management services for complex capital projects."
As part of this transformation, DMS has begun rolling out its refreshed logo and branding across all company assets and will continue to serve both private and public sector clients with its comprehensive property management services, which include multi-residential, retail, industrial, office, and land management. This brand consolidation and service expansion effort aligns with Tribe's strategic vision to enhance and expand its service offerings nationwide, while maintaining the operational integrity and leadership that clients have come to trust from DMS.
Rob Watt, COO of DMS, commented, "As a key part of the Tribe team, we have now consolidated our business under the DMS brand, and all of our service divisions will be represented by our refreshed DMS logo. We are pleased that the DMS brand will continue to build from strength under the Tribe umbrella, and we look forward to growing our presence across Canada."
In addition to the rebranding, DMS is also expanding its Project Management service offering to all property management clients under the Tribe umbrella, this would include rental and condo projects across Tribes' national footprint, opening new markets for DMS. The DMS Project Management team develops and delivers long term capital plans for clients, identifying major repair or replacement projects necessary to maintain asset integrity, mitigate liability, and ensure life, health, and safety. The service will be an add-on offering to Tribe's current and future clients, managing projects ranging from new boilers to full-building window replacements.
Scott Ullrich, EVP Management Services at Tribe, commented, "Expanding this service across Canada allows us to better support complex capital projects for our clients, while our property management teams focus on the operational work they excel at. Although they function as separate business units, their proximity allows for seamless collaboration to meet our clients' needs."
In 2023, in British Columbia alone, there was approximately $2 billion worth of capital projects undertaken by Strata Corporations, not including rental or commercial projects2.
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1 Source: Canadian Apartment https://archives.reminetwork.com/canadian-apartment-may-june-2024/68749136
2 Source: OctoAI Technologies Corp.
About Tribe Property Technologies
Tribe is a property technology company that is disrupting 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 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.
Tribe Property Technologies Inc. "Joseph Nakhla" Chief Executive Officer 1606 – 1166 Alberni Street, Vancouver, British Columbia, V6E 3Z3 1-888-773-8381
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