Rhapsody Awarded Management of The Metropolitan

CALGARY, AB--(Marketwired - September 08, 2015) - Rhapsody Property Management Services ("Rhapsody"), Canada's premiere, third-party multifamily management firm, announced today it has been awarded oversight of The Metropolitan, a new purpose-built residential project in downtown Calgary bringing 430 luxury apartment homes in a 13-story community. The property, being developed and constructed by The Statesman Group of Companies, has an estimated completion date in early 2016.

Located at 1235 11^th Avenue SW, the development resides in Calgary's acclaimed Beltline neighbourhood and will become one of the first properties in Canada to benefit from a single-source management firm. The Metropolitan will also be one of Calgary's first large, purpose-built residential rental buildings in several decades.

"The paradigm shift to purpose-built rental communities in Calgary requires a particular style of management," explains Garth Mann, CEO of Statesman. "Rhapsody provides us with the solution. The Rhapsody team brings a proven, best-in-class platform for managing upscale rental communities to The Metropolitan and will help provide a living experience that residents will truly enjoy."

The Metropolitan offers a unique twist on luxury living. In addition to delivering sophisticated interior finishes and impressive amenities, the resident-centric community will introduce socially engaging and interactive programs hosted by the management team to give residents a true neighbourhood feeling within the walls of their building. Residents will enjoy gathering around the television in the lounges, taking advantage of the onsite state-of-the-art fitness center or relaxing in one of the outdoor courtyards with BBQ stations among other activities.

"Managing residential real estate for the benefit of residents requires an organization with a comprehensive set of skills and expertise," said Rob Martin, senior vice president of Rhapsody. "The Metropolitan residents will have immediate access to management and maintenance personnel to ensure their living experience is exceptional, smooth and carefree."

Well-positioned in the hub of the bustling Beltline district, The Metropolitan sits among the excitement of downtown Calgary. Ranked as the best city neighbourhood in which to live or rent by Avenue Magazine Calgary, the area is home to Whole Foods, Co-Op's Midtown Market and indie gems like Kalamata, and is also a favourite for Calgarians seeking a car-free lifestyle. The Metropolitan is located a short walk to Calgary Transit's LRT downtown "Free Fare" zone and the city's vibrant business district. Residents of the community will also benefit from the Beltline's multiple bus routes, commuter-cycling paths and ubiquitous Car2Go vehicles.

For more information about leasing an apartment home in The Metropolitan, call (403) 228-6380 or visit the community website at www.liveatthemet.ca.

About Rhapsody Property Management Services

Rhapsody Property Management Services ("Rhapsody") is a joint venture between PPMS Holding Corp., a Pinnacle Company, and a leading Canadian real estate investor (www.rhapsodyliving.ca). The company operates as a division of Pinnacle, which is a privately held national real estate provider specializing in third party management of multifamily residential communities in the United States. As one of the nation's preferred third-party managers, Pinnacle's portfolio includes nearly 135,000 residential units and 2 million square feet of commercial assets. With the Corporate headquarters located in Dallas, Texas, Pinnacle has 3,000 employees located in 35 states and 25 major metropolitan areas. For more information about Pinnacle, visit www.pinnacleliving.com.

About the Developer - Statesman Group of Companies

The Statesman Group of Companies has been an active developer for nearly 40 years, developing innovative and award-winning communities throughout North America. Statesman Homes was an initiator of the Alberta New Home Warranty Program in 1976, building single family housing, but over time has focused its efforts on developing, building and operating maintenance-free, multi-family residential projects, upscale senior's living communities and interesting, safe, resort destinations. Our corporate slogan, "What a Beautiful Way to Live," has always been, and steadily remains, our guiding principle today.

To learn more about Statesman's multi-family and resort platforms, please visit www.statesmangroup.com. To learn more about Statesman's senior living portfolio, please visit www.themanorvillage.com. To learn more about Advanced Medical Group, please visit www.advancedmedicalgroup.net.