DALLAS--(BUSINESS WIRE)--Abode Properties and Southern Properties Capital (SPC), subsidiaries of Dallas based real estate investment company Transcontinental Realty Investors Inc., (NYSE: TCI) began construction on Oak Hollow Phase II, in April 2017. The 96 unit gated community is currently in lease up with completion scheduled for Spring or Summer 2018.
Community amenities include custom designed pool with waterfall, volleyball court, basketball court, bike racks, park benches, fitness center and Clubhouse with billiards table.
Located in the Austin-San Antonio corridor, the fastest growing region in the country, Oak Hollow Phase II is conveniently located near downtown Seguin, several schools within the Seguin Independent School District and the town’s ever growing medical facilities. Max Park, a 227 acre regional park is only 4 miles West and offers a variety of recreational activities including tennis courts, 18 hole golf course, wave pool, natural fishing area, walking trails and much more.
“Seguin is the perfect location for Abode Properties’ asset development. The town is experiencing fantastic economic and infrastructural growth, while keeping an eye on maintaining its small town feel,” commented Daniel J. Moos, Abode’s President and CEO. “This lines up perfectly with our strategy to develop Class A multifamily assets in areas experience strong economic activity.”
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 operates primarily in Texas and specializes in Class A multifamily assets in emerging markets throughout the Southern United States, corresponding with both sustainable and viable economic growth activity. The issuing entity is backed by over 3,000 multi-family units (out of a total of approximately 8,000 owned and operated by TCI), as well as over 1.5 million square feet office of buildings in Texas. The company has already used funds to acquire additional multifamily assets within its strategic footprint, and expects significant expansion by continuing to utilize the Israeli bond platform.
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.
