AP NEWS

Southern Properties Capital Begins Lease Up of Spyglass of Ennis in Ennis, Texas

November 30, 2018

DALLAS--(BUSINESS WIRE)--Nov 30, 2018--Abode Properties a subsidiary of Transcontinental Realty Investors Inc., (NYSE: TCI) a Dallas-based real estate investment company, is pleased to announce leasing has begun at its Spyglass of Ennis asset in Ennis, Texas. The class A asset will become part of the Southern Properties Capital portfolio.

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Spyglass of Ennis apartments in Ennis, Texas (Photo: Business Wire)

Spyglass of Ennis is a fully gated community and consists of 188 units including 72 one-bedroom, one-bathroom apartments ranging from 660 to 794 square feet and 116 two-bedroom, two-bathroom units ranging from 999 to 1156 square feet. Interior amenities include granite countertops, natural stone topped vanities, private balconies, and vinyl wood plank flooring.

Note-worthy community amenities include a luxury clubhouse with kitchen, Wi-Fi café, resort style swimming pool with jacuzzi, fitness center, BBQ grilling area and jogging trail. Tenants have the option to rent detached carports or private garages.

“Leasing activity has formally commenced at our newest Class A property, Spyglass at Ennis,” said Brad Kyles, EVP of Multifamily Residential Operations. “Spyglass brings contemporary style and design to the community with wonderful amenities and an outstanding location.”

Spyglass of Ennis Apartments is in close proximity to James Bowie Elementary, Dorie Miller Middle and Ennis high schools. Also conveniently located are retail, pharmacies and a medical center. Nearby parks include Lake Clark Park, Kachine Prairie Park and Pierce Park.

Ennis, Texas is just 25 minutes south of downtown Dallas on IH-45. Ennis is home to the 40 mile drive of the breathtaking bluebonnets called the “Official Bluebonnet Trail of Texas”. Residents and visitors can enjoy authentic Czech food, music, and fun at the National Polka Festival held every Memorial Day weekend, while staying at the city’s quality bed and breakfast inns and lodges. Year round activities include unique shopping in the historic district, recreational activities include fishing, skiing, camping at scenic Bardwell Lake. Ennis also boasts seven screen Galaxy Drive-in Theatre, Texas Motorplex, Railroad and Cultural Heritage Museum, and Ennis Public Theatre.

Abode Properties is a subsidiary of Transcontinental Realty Investors Inc., (NYSE: TCI), a Dallas-based real estate investment company. Abode’s 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 stands to benefit from historically established, proven, and successful operational practices, seasoned on-site management, and an experienced leadership team with forward thinking capabilities in order to realize 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. All of Abode Properties means one thing - Home.

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.

Southern Properties Capital operates primarily in Texas and specializes in Class A multifamily assets in emerging markets throughout the Southern United States, corresponding with both sustainable and viable economic growth activity. The issuing entity is backed by over 3,000 multi-family units (out of a total of approximately 8,000 owned and operated by TCI), as well as over 1.5 million square feet of office buildings in Texas. The company has already used funds to acquire additional multi-family assets within its strategic footprint, and expects significant expansion by continuing to utilize the Israeli bond platform.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181130005044/en/

CONTACT: Chris Childress

469.522.4275 /press@pillarincome.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Abode Properties

Copyright Business Wire 2018.

PUB: 11/30/2018 08:00 AM/DISC: 11/30/2018 08:01 AM

http://www.businesswire.com/news/home/20181130005044/en

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