Transcontinental Realty Investors, Inc. Ranked #6 on RealPage DFW Most Active Developers List
DALLAS--(BUSINESS WIRE)--Mar 11, 2019--Transcontinental Realty Investors, Inc. (NYSE:TCI) was recently recognized by RealPage as Dallas-Fort Worth’s 6 th most active apartment developer with over 800 assets under construction as of January 2019.
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“Transcontinental Realty Investors had a stellar 2018 and we have expectations for an equally successful 2019,” said CEO and President Daniel J. Moos. “We are poised to grow our already stellar portfolio with new development as well as acquisitions either through TCI or its new Joint Venture partnership Victory Abode Apartments/Abode Properties. We have over 18 multifamily developments in the pipeline either currently or to be completed by 2021, with 35 more assets in the future development pipeline.”
RealPage listed Top Developers Based on Volume with JPI holding the number one spot, and Davis Development, Greystar, Trinsic Residential Group, W3, and Transcontinental Realty Investors ranking two through six respectively.
Moos continued, “TCI development strategy differs from many other companies. We primarily invest in Class-A multi-family projects in very selective geographic markets. Our approach is extremely focused; which we refer to as a laser beam approach paying significant detail to quality.”
About Transcontinental Realty Investors
Transcontinental Realty Investors maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, development, and sale of real estate across every geographic region in the United States. A New York Stock Exchange company, Transcontinental is traded under the symbol “TCI”. Transcontinental produces revenue through the ownership and professional management of income producing apartments and office buildings that are “undervalued” or “underperforming” at the time of acquisition. Value is added under Transcontinental ownership, and the properties are repositioned into higher classifications through physical improvements and improved management. Transcontinental has dramatically expanded its development capabilities associated with luxury apartment homes through its wholly owned subsidiary Abode Properties, principally on land it owns or acquires.
About Abode Properties Services
Abode Properties Services/Victory Abode Apartments is a joint venture subsidiary of Transcontinental Realty Investors(NYSE:TCI) and Southern Properties Capital (SPC) both Dallas-based real estate investment companies and Australian financial institution Macquarie Group Limited(ASX: MQG).
Victory Abode Apartments d/b/a Abode Properties Services’ investment and strategic focus is to acquire, develop, and operate a portfolio of desirable multifamily residential properties, while capitalizing on our ability to obtain long term and static debt structures. The portfolio benefits from historically established and proven operational practices, seasoned on-site management, and an experienced leadership team with forward thinking capabilities. We consistently achieve maximum cash flows and consistent returns, while maintaining unequaled resident and customer service. We are disciplined and prudent allocators of capital and we will continue growing our geographically diverse portfolio from the Southwest to the Southeast. These markets are geographically located in areas of the country that correspond with both sustainable and viable economic growth activity.
About Southern Properties Capital
Southern Properties Capital (SPC) operates in Southeast and Southwest USA. The Company’s core assets are tied to owning and operating Class A multi-family apartments and two very prominent and viable Multi Use development properties in Greater Dallas. The Company’s business strategy is to continue to expand its Class A multifamily portfolio through new development and financially attractive acquisitions. To this end, SPC is joint owner of Abode Properties with its parent Company TCI and Macquarie.
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CONTACT: Chris Childress, Pillar Income Asset Management
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Transcontinental Realty Investors, Inc.
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PUB: 03/11/2019 08:00 AM/DISC: 03/11/2019 08:01 AM