DALLAS--(BUSINESS WIRE)--Transcontinental Realty Investors Inc., (NYSE: TCI) and Abode Properties recently celebrated the grand opening of its newest asset Parc at Wylie apartments in Wylie, Texas.
The Grand Opening celebration for Parc at Wylie apartments welcomed attendees from the City of Wylie, the Wylie Chamber of Commerce, local businesses such as Camp Gladiator and Edward Jones, property developers and managers Wittington Holdings, Pillar Income Asset Management and Sunridge Management, along with Parc at Wylie community staff and current residents.
Parc at Wylie has thirteen 3-story buildings with a total of 198 units and 12 available floorplans. The spacious one, two and three bedroom units offer walk in closets, gourmet kitchens with breakfast bars, granite countertops, screened patios and balconies, lofty nine foot ceilings and in unit washers and dryers. It is a pet friendly community that’s equipped with covered and garage parking, a fenced bark park, swimming pool w/tanning deck, walking trails, playground, 24 hour fitness center, elevator and much more. The property was 95.5% leased as of May 24, 2018.
Conveniently situated with easy access to both Lake Lavon and Lake Ray Hubbard, Parc at Wylie is within minutes of several schools, including Primrose, Frank McMillan Jr. High, Davis Intermediate, Wylie High and Dodd Elementary Schools.
“We continue to develop assets in the strongest geographic regions in the United States,” commented Daniel J. Moos, TCI’s President and CEO. “Wylie has become one of the fastest-growing communities in the country and in 2017 was ranked 20th in Money magazine’s 2017 Best Places to Live in America.”
Transcontinental Realty Investors 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.
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.