DALLAS--(BUSINESS WIRE)--Abode Properties and Southern Properties Capital, a Texas real estate investment chain of companies recently completed construction on its newest luxury properties Parc at Bentonville in Bentonville, Arkansas and Parc at Garland in Garland, Texas. 40 year mortgages were secured for both properties at interest rates of 3.30 percent and 3.75 percent respectively. Both properties are currently in the lease up phase and offer one and two bedroom floorplans.
Parc at Bentonville is located in one of the fastest growing regions in the country. The property is 5 to 10 miles from Bentonville’s finest arts and entertainment venues including an array of restaurants, neighborhood markets, and vintage shopping. There are six available floor plans to choose from, all constructed to meet today’s demand for high standards and attractive features. Amenities include wood floors, in unit washer dryer, granite countertops, and a luxurious clubhouse. Clean lines and rich finishes with contemporary, chic palettes define the generous space of each residence.
Parc at Garland is modern living redefined. Each unit offers generous amenities including lofty nine foot ceilings, custom paint, designer finishes, gourmet kitchens, granite countertops, stainless steel appliances, spacious walk-in closets, and garden tubs. The community is equipped with a sparkling swimming pool, state of the art fitness center, fenced dog park, outdoor grilling, business center and lush landscaping. Conveniently located to Interstate 3, Parc at Garland residents are only a few miles from Lake Ray Hubbard and a short drive to Downtown Dallas.
“These assets are strong examples of Abode’s strategy to expand in economically diverse markets,” commented Daniel J. Moos, Abode’s President and CEO. “Bentonville is home to Walmart and continues to transform into a center of commerce and tourism and Garland is located in the DFW Metroplex, the fourth largest region in the nation. Both cities continue to experience population growth as well as excellent opportunities for business and entrepreneurs.”
Abode Properties is a subsidiary of Transcontinental Realty Investors Inc., (NYSE: TCI), a Dallas-based real estate investment company. Abode’s investment and strategic focus is to acquire, develop, and operate a portfolio of desirable multifamily residential properties, while capitalizing on our ability to obtain long term and static debt structures. The portfolio stands to benefit from historically established, proven, and successful operational practices, seasoned on-site management, and an experienced leadership team with forward thinking capabilities in order to realize maximum cash flows and consistent returns, while maintaining unequaled resident and customer service. We are disciplined and prudent allocators of capital and we will continue growing our geographically diverse portfolio from the Southwest to the Southeast. These markets are geographically located in areas of the country that correspond with both sustainable and viable economic growth activity.
Southern Properties Capital LTD, a British Virgin Islands corporation (“Southern”) is an indirect subsidiary of Transcontinental Realty Investors Inc., (NYSE: TCI), a Dallas-based real estate investment company. 85% of the company’s properties are located in Texas; where management has intimate familiarity with sub-markets and unique access to off-market deals. Southern is committed to developing and managing multifamily assets in areas with sustainable and viable economic growth; with a focus on Class A HUD eligible assets that further achieve the company’s growth strategy; which includes offering and sale of nonconvertible Series A Bonds with the Tel Aviv Stock Exchange LTD (the “TASE”).
Transcontinental Realty Investors (www.transconrealty-invest.com) maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, developing, 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 professional management of apartments, office buildings, warehouses, and retail centers 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 also develops new properties, such as luxury apartment homes principally on land it owns or acquires.
