DALLAS–(BUSINESS WIRE)–Transcontinental Realty Investors CEO & President, Daniel Moos, recently
visited the New York Stock Exchange.
“It’s been over a decade since I visited the New York Stock Exchange and
it’s still a dynamic demonstration of investors’ confidence in the
economy and the free enterprise system,” commented Daniel Moos,
Transcontinental Realty Investors CEO & President. “The energy you feel
standing at the nerve center of American finance is incredible.”
Mr. Moos went on to say, “I travelled to New York City to discuss our
organization’s next strategic initiative in the multi-family real estate
market, and present our portfolio’s growth projection to potential
investors. TCI along with certain affiliated companies are evaluating
various alternatives to grow the asset base while continuing to enhance
value for our investors.”
2018 was a successful year for both Transcontinental Realty Investors
and Southern Properties Capital with the creation of the company’s first
Joint Venture- Victory Abode Apartments, TCI’s #6 ranking on RealPage’s
DFW’s Most Active Developers list, raising an additional $39.4 Million
Bond Series B on the Tel Aviv Stock Exchange, as well as the development
and lease up of several newly developed Class A apartment assets.
The Company has several new development projects in its pipeline that
are concentric to the Great Dallas-Ft. Worth area. It is important to
note that the U.S. Census Bureau announced last week that the
Dallas-Fort Worth area gained more residents than any other metropolitan
area in the country and was behind more than a third of Texas’
population growth in that period, adding 131,767 residents from 2017 to
2018. Texas was the leader in population growth due to both growing
families and migration to the state. The state took 4 of the
nation’s top 10 spots both for counties that gained the most residents
in a year and those that grew the fastest.
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 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.
Contacts
Chris Childress
469.522.4275 / [email protected]
