HOUSTON--(BUSINESS WIRE)--In conjunction with its proposed slate of acquisitions already in progress in the Lone Star State, Taylor Consulting, Inc. (OTCBB: TAYO) announced today that the company seeks to expand its asset acquisition program to include more distressed, multi-unit properties in Texas.
The company will seek out commercial and residential buildings in the state’s top growth markets, including hotels, retail and more, for rehabilitation and resale or operation.
TAYO has already begun targeting promising real estate in West Texas, where a boom in oil and gas activity has drawn a large influx of workers and residents. The company is conducting due diligence on four properties located on or near West Texas’ massive Cline Shale formation. Covering an area of over one million acres, the Cline Shale could be the largest North American oil play of all time, with some experts predicting it could produce as many as 30 billion barrels of oil.
Now, the company will expand its search to include raw land and businesses in the state’s Eastern half, where economic activity has surpassed pre-recession levels in much of the region. Earlier this year, the Urban Land Institute (ULI) ranked the city of Houston, where TAYO is headquartered, as the No. 2 market to watch in its “Emerging Trends in Real Estate 2014” report, behind only San Francisco. Dallas-Ft. Worth was ranked 4th; Austin 7th.
TAYO hopes to announce the first of many land purchases very soon.
TAYO recently created a new division—Third Avenue Development, LLC—to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
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