HOUSTON--(BUSINESS WIRE)--Taylor Consulting, Inc. (OTCBB: TAYO) announced today that its real estate division, Third Avenue Development, LLC, has placed a bid to acquire a large, bulk real estate purchase in the growth market of West Texas.
The bid, which has been approved for consideration, is for 64 lots in Texas’ hottest oil and gas territory. The bulk of properties covers approximately 16 acres of land ripe for redevelopment to suit a variety of potential needs. TAYO has targeted the bulk purchase because it fits the company’s criteria of distressed assets available for discounted acquisition, says company CEO Scott Wheeler.
“Bulk acquisitions of this kind are a quick and comparatively affordable way for Third Avenue to build up its portfolio of West Texas real estate assets,” Wheeler said. “We hope we can get this purchase finalized very soon and continue adding many more high-potential assets in this region.”
TAYO continues to conduct due diligence toward additional real estate acquisitions in the state, where population growth has averaged 1.7 percent annually over the past three years—more than double the national average.
TAYO recently created 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) and 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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