DALLAS–(BUSINESS WIRE)–Southern Properties Capital, a subsidiary of Transcontinental Realty
Investors, Inc. (NYSE: TCI), a Dallas-based real estate investment
company, is pleased to announce the significant success tied to Mercer
Crossing and Windmill Farms development projects.
Mercer Crossing is at the heart of the Dallas-Ft Worth Metroplex,
located near the junction between interstates 635, 35E, George Bush
Tollway, and Sam Rayburn Tollway. Fifty companies currently call Mercer
Crossing home and 1,000 residential lots are under completion; all under
contract with national builders. The first phase of a 1,200 unit
apartment complex is also nearing completion. This 370-acre mixed use
development will be home to 174 acres of residential single-family homes
and 93 acres of retail, shopping and office space. With bike trails and
shaded structures throughout, as well as several parks and open spaces,
Mercer Crossing will provide a warm and inviting atmosphere not
typically seen in an urban setting. The community will be comprised of
six distinct and separate residential neighborhoods whose Texas Tudor
style architecture is inspired by 17th century England and meant to
evoke feelings of the English countryside. Mercer Crossing will also
boast a state-of-the-art amenity center and is close to numerous
business districts.
Windmill Farms is a gorgeous master-planned community east of Dallas, in
Forney, Texas. Located just past I-635, off Hwy 80, this family-friendly
setting is conveniently located near all the fine dining, shopping, and
entertainment that the heart of Dallas has to offer. This neighborhood
also rewards homeowners with endless amenities including expansive
swimming pools, playgrounds, ponds, picnic areas, and highly acclaimed
schools. Windmill Farms combines the excitement of Dallas and the
small-town, relaxed feel of Forney.
The next Windmill Farms subdivision is currently being completed by two
national home builders purchasing all 250 lots. The next three
subdivisions will be completed this summer with national home builders
purchasing all 591 lots. Final designs are being reviewed for a
significant new amenity center for the new subdivisions. Planning is
also underway for two retail projects, and an apartment complex is also
planned in the area.
“Windmill Farms remains the top new home community in the top Metroplex
relocation areas, and Mercer Crossing is the newest dynamic development
in the area,” commented Daniel J. Moos, TCI & Southern Properties’ CEO.
“These developments are a perfect example of our organization’s
strategic vision, coupled with our development capabilities.”
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
On behalf of Transcontinental Realty Investors,
Inc.
469.522.4275 / [email protected]
