TAYO Adds New West Texas Acquisition to Asset Portfolio
HOUSTON--(BUSINESS WIRE)--Through its real estate division, Third Avenue Development, Taylor Consulting, Inc. (OTCBB: TAYO) finalized the acquisition today of a new property in the booming region of West Texas.
The company signed a contract to purchase the property late last month. It is a one-acre frontage lot on Interstate 20 between the growing West Texas population centers of Abilene and Odessa. It is the first acquisition in the area to be finalized by Third Avenue Development as TAYO targets promising and versatile real estate assets in one of the fastest-growing regions in the country.
TAYO is working to acquire properties that can be developed to help fill in the gaps in the community’s industry, services and infrastructure caused by the rapid influx of new jobs and residents, from trucking to short-term housing to entertainment. The company is building a portfolio of real estate assets with the potential for multiple development strategies and revenue streams.
The Permian Basin, anchored by Midland and Odessa, has several shale plays that will likely produce more than 1.3 million barrels of oil per day by 2017, according to many oil industry experts. As a result, Texas’ population growth has averaged 1.7 percent annually over the past three years, more than double the national average.
In addition to its traditional sports consulting business, 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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