Transcontinental Property Management Inc
Transcontinental Property Management Inc – DALLAS – (BUSINESS WIRE) – Pillar Income Asset Management, managing company Transcontinental Realty Investors Inc. (NYSE: TCI), American Realty Investors, Inc. (NYSE: ARL), Income Opportunity Realty Investors, Inc. (NYSE American: IOR) and Abode Properties confirm that business operations remain closely linked to day-to-day operations. In addition, the company continued various projects for the development of apartment buildings, land sales and refinancing.
According to President and CEO Daniel Moos, “During the COVID-19 pandemic, our stakeholders remain optimistic about a phased and timely economic recovery. While we have been impacted by stay-at-home orders in various markets, our overall staff, tenants and suppliers have been able to adapt and/or support operations remotely. Following the government order, new leasing activities continue and we maintain consistent occupancy across our portfolio.” He continued: “As we expect to eventually see a strong recovery from the COVID-19 pandemic, especially in the US Southwest and Southeast where our assets are located, we are also strategically exploring opportunities to secure land parcels that will allow improve them in the future. to our multi-unit asset base.”
Transcontinental Property Management Inc
Transcontinental Realty Investors is currently developing 9 apartment buildings in Texas and Louisiana. These assets comprise over 1,600 units and over 1.4 million square feet. TCI’s newest development project, Parc at Opelika, is set to begin operations in the next 90 days in Opelika, Alabama. The company remains cautiously optimistic that the current problems facing the economy will lessen over the next few months. These multi-unit development projects are on track to reach their original completion dates.
For Lease: 9326 Tooley Drive, Houston, Tx 77031
As part of the company’s largest development project, Windmill Farms, 2 significant land lots were recently sold and 4 more are due to close, resulting in the sale of several lots and large lots. With an expected total population of 45,000 functionally, it is a large privatized city on the east side of Dallas. The Windmill Farms site development program is accelerating as months of heavy rain have passed. 440 lots are in the process of completion. Another 414 sites have been asphalted. Sales of homes out of 250 delivered lots remain stable, with homeowners moving in on a weekly basis.
At the time of this press release, apartment building rental fees were higher than the national average. We remain committed to our tenants and employees. As a commercial property manager, we are in constant communication with our tenants and continue to research and implement new guidelines from the CDC and BOMA.
“As an employer, we are doing everything we can to help our employees feel supported and connected as we continue to work remotely,” added Daniel Moos. “Prior to the Dallas County stay-at-home order, we provided each employee with a supply of hand sanitizer and Clorox wipes for personal use. We also made sure that each employee has the necessary equipment and connection for remote control at any time. We had very few problems during the transition. We continue to send weekly email newsletters and managers are encouraged to hold weekly video meetings and plan virtual department activities. Both property management and corporate teams continue to be a phenomenal and hard working group of people.”
About Transcontinental Realty Investors, Inc. Transcontinental Realty Investors is committed to creating greater shareholder value by acquiring, financing, operating, developing and selling real estate in all US geographies. Transcontinental, listed on the New York Stock Exchange, trades under the symbol “TCI”. Transcontinental generates revenue through the ownership and professional management of income-producing apartments and office buildings that were “undervalued” or “underperforming” at the time of acquisition. With transcontinental ownership, added value increases and properties are promoted to higher grades through physical improvements and improved management. Transcontinental has significantly expanded its development capabilities in luxury apartment buildings through its wholly owned subsidiary, Abode Properties, primarily on land it owns or acquires.
E 5th Avenue, Aurora, Co 80018
About Abode Properties Abode Properties is a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI), a real estate investment company based in Dallas. Abode’s investment and strategic focus is to acquire, develop and manage a portfolio of desirable multi-family residential properties while leveraging our ability to obtain long-term and static debt structures. The portfolio must capitalize on historically established, proven and successful operating practices, experienced field management and an experienced leadership team with forward-thinking abilities to realize maximum cash flow and consistent profits while maintaining an unrivaled service to residents and clients. We are disciplined and prudent allocators of capital and we will continue to expand our geographically diverse portfolio from the southwest to the southeast. These markets are geographically located in areas of the country that are consistent with both sustainable and viable economic growth. Affiliated companies include American Realty Investors, Inc. (NYSE: ARL), Income Opportunity Realty Investors, Inc. (NYSE American: IOR), Regis Property Management, LLC and Pillar Income Asset Management, Inc.
About Pillar Income Asset Management Pillar Income Asset Management, Inc. is a Dallas-based property management company that develops and manages over $2.5 billion in real estate for public and private real estate companies. Affiliates under the direction or advice of Pillar include American Realty Investors, Inc. (NYSE:ARL); Transcontinental Realty Investors, Inc. (NYSE: TCI); Income Opportunity Realty Investors, Inc. (NYSE American: IOR); and Abode Properties Inc. Members of Regis Property Management and Portfolio Development, LLC break ground at Terra Lago in Rowlett, Texas. Left to right: Cindy White, Bob Brock, Kennis Ketchum, Don Phillips, Sarah Franco-Bekak (Photo: Business Wire)
DALLAS – (BUSINESS WIRE) – Transcontinental Realty Investors, Inc. (TCI) is pleased to announce the groundbreaking ceremony for Terra Lago’s luxury residential development in Rowlett, Texas. The property is located in a part of the city that is close to the Healthy Living area, an area with an expanding hospital and many ancillary facilities.
Rowlett Mayor Todd Gottell attended the event. This facility joins other high-end projects under the city’s Realize Rowlett 2020 initiative. The Realize Rowlett 2020 plan is to transform Rowlett’s shores into a “health sanctuary” with aquatic habitat, kayak and canoe rides, nature trails, boardwalk, playground, and fishing pier, as well as other amenities.
Shumard Ave, Saint Cloud, Fl, 34771
Mayor Gottel commented: “Terra Lago will be very attractive to professionals in our community who are looking for high-end lakeside living without the responsibilities of traditional single-family housing.”
Terra Lago is a four-story Mediterranean-style residential complex consisting of 447 apartments. Nestled on the shores of Lake Ray Hubbard, this piece of land is adorned with old-growth trees and picturesque rocky shores. The City plans to improve the site by building a park and a walking path on the site. Residents will be able to go outside and enjoy these opportunities in their own backyard. The plan even includes a water taxi that will take guests to other points along the lake.
The project will be built for those who want the best of what Rowlett and multifamily housing have to offer. With an exquisite Mediterranean façade, every detail of a carefree lifestyle will be included in the complex. Residents will enjoy a state-of-the-art fitness center and luxurious communal space, as well as courtyard pools and an outdoor kitchen. Residents will park in structured parking lots and will be able to enter buildings on the floors they live on. Then, as they pass through air-conditioned corridors, they will live in apartments with a wide range of high-end amenities such as granite countertops, island kitchens, and everything that can only be found in the finest luxury apartments.
“Terra Lago is just one example of TCI’s commitment to building luxury multi-family homes in communities with a contemporary vision,” said Gene E. Phillips, renowned Dallas real estate advisor. “The Realize Rowlett 2020 initiative is a prime example of a vibrant city with a keen eye on the future of real estate and a unique community identity.”
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Transcontinental Realty Investors, Inc. focuses on increasing shareholder value through the acquisition, financing, operation, development and sale of real estate in many geographic regions of the United States. Transcontinental, listed on the New York Stock Exchange, trades under the symbol “TCI”. Transcontinental generates income through the ownership and professional management of apartments, office buildings, warehouses and shopping malls that were “undervalued” or “underperforming” at the time of acquisition. With transcontinental ownership, added value increases and properties are promoted to higher grades through physical improvements and improved management. Transcontinental is also building new properties, such as luxury apartment buildings, primarily on land it owns or acquires. that the Dominion at Mercer Crossing apartments are fully completed and currently rented out. Abode Properties Services, a subsidiary of TCI, is providing asset management advice for this Grade A property located in the Mercer Crossing area of Farmers Branch, Texas adjacent to the TCI-designed Lakeside Lofts.
The mid-rise residential complex will consist of two residential four-story buildings with 256 apartments. Dominion at Mercer Crossing Apartments will offer spacious 500-square-foot studios, one-bedroom apartments ranging from 616 to 858 square feet, two-bedroom floor plans ranging from
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