FOR IMMEDIATE RELEASE
CALGARY, AB (August 29, 2019) /CNW/ – ApartmentLove Inc. (“ApartmentLove” or the “Company”),the favorite online home and apartment rental marketing website of landlords and tenants from across Canada and throughout the United States is very pleased to announce it has successfully completed another acquisition of a direct competitor – the all-cash takeover of Italian-Apartment.com (the “Italian Company”).
“Having established ourselves in Canada and the United States as a dominant force in the residential rental marketing industry, we felt the time was right for us to explore underserviced markets abroad,” said Trevor Davidson, President &CEO of ApartmentLove Inc. He added, “The very timely acquisition of the Italian Company dovetailed with our long-standing international expansion plans. The fact that the purchase metrics met or exceeded all our valuation benchmarks made completing the transaction that much easier.”
“Despite being home to more than sixty million residents, Italians have been without a professional and dedicated online rental platform like ApartmentLove.com for far too long” explained Philip J. Doublet, Chairman of ApartmentLove. He continued to say, “Leveraging the energy and excitement of a new home and supporting same with the robust and trustworthy platform that is ApartmentLove.com will result in both landlords and tenants feeling comfortable and confident when renting good and desirable homes in Rome, Florence, Milan and elsewhere across the country in real time and all via the Internet.”
To underscore management’s commitment to the international growth and expansion plans, the Company is also in very late-stage discussions with several well-established industry partners for the specific purpose of fueling the Company’s organic expansion elsewhere across Europe, North Africa, the Middle East and Asia as ApartmentLove continues to execute its business plans with the unwavering goal of becoming the “go to” rental destination for landlords and tenants from around the world. The Company anticipates those organic expansion plans to begin to take effect in or about Q4/2019. The acquisition of Italian-Apartment.com was successfully completed on July 31, 2019.
This news release is specifically NOT a solicitation for investment in either Canada or the United States.
ApartmentLove is the professional and proven effective online rental solution needed by both landlords and tenants from around the world. Carefully targeted and beautifully styled, ApartmentLove.com resonates with prospective tenants, professional landlords and the coveted millennial generation because of its easy-to-use interface, comprehensive listing inventories, engaging online environment and dynamic and memorable branding. Bringing together the best qualified tenants and the most desirable rental listings from across Canada, the United States and Italy; ApartmentLove.com is among the largest home and apartment rental websites online today.
Visit: www.ApartmentLove.com, or follow along on Facebook and Instagram for direct links to the best selection of the most desirable homes and apartments for rent as well as fun and creative home décor concepts, interior design ideas and other helpful rental tips.
President & CEO
Forward Looking Statements:
Certain information set forth in this news release may contain forward looking statements that involve financial projections, substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward looking statements may be characterized by words such as: "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements, that certain events or conditions "may" or "will" occur. These include, but are not limited to, the statements regarding entry into agreements to increase market presence; expansion in either North America or Europe or elsewhere around the world; possible further acquisition opportunities; raising sufficient capital to support those plans; and the market for the Company’s product offering. No reliance should be placed on any forward looking statements as forward looking statements are based on assumptions made by the Company and certain risks as of the date thereof regarding, among other things, the ability to enter into binding agreements with industry participants, including financial partners, and the ability to grow the business organically and via acquisition, of which there is no assurance; regulatory risks; changes in laws, resolutions and guidelines; market risks; concentration risks; operating history; competition; the risks associated with international and foreign operations; the ability to secure sufficient debt and equity financing to fund the Company’s operations; ability to secure and protect ApartmentLove's proprietary technology and intellectual property, that favorable growth parameters continue to exist in respect of current and future growth projects; prevailing product price, margins and exchange rates remain constant; that ApartmentLove's businesses will achieve sustainable financial results; or that the Company's future results of operations will be consistent with management’s expectations in relation thereto, the availability and sources of capital; operating costs; ongoing utilization; and future expansion. The Company assumes no obligation to update forward looking statements, except as required by applicable law.