HOUSTON--(BUSINESS WIRE)--Taylor Consulting, Inc. (OTCBB: TAYO) announced today that its real estate division, Third Avenue Development, LLC, has won its bid to acquire a large, bulk real estate purchase in the growth market of West Texas.
The winning bid gives the company the right to acquire 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.
Additionally, TAYO expects to acquire any mineral rights associated with the real estate, as well.
“This bulk purchase is an advantageous way to build up our portfolio of West Texas real estate quickly at an affordable price,” TAYO CEO Scott Wheeler said. “This is only the beginning. Third Avenue Development will continue to seek out promising investments in the region as the company works to capitalize on the boom in real estate demand there.”
TAYO has placed a high priority on the acquisition of real estate on or near West Texas’ massive Cline Shale formation, where drilling and exploration are drawing thousands of new residents. In Texas, 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 in emerging oil and gas regions. The company is focused on acquiring and developing properties in the country's top-performing markets in order to capitalize on rising demand for housing and related infrastructure services.
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