Profile: Transcontinental Realty Investors Inc (TCI.N)
2 Dec 2013
Transcontinental Realty Investors, Inc. (TCI) is an externally advised and managed real estate investment company that owns a diverse portfolio of income-producing properties and land held for development. The Company’s portfolio of income-producing properties includes residential apartment communities, office buildings and other commercial properties. The Company acquires land primarily in in-fill locations or high-growth suburban markets. As of December 31, 2011, it owned 9,317 units in 50 residential apartment communities, 16 commercial properties comprising five million rentable square feet. In addition, it owns over 4,720 acres of land held for development. As of December 31, 2011, the Company owns income-producing properties and land in 13 states as well as in the U.S. Virgin Islands. The Company’s segments include commercial, apartments, hotels, land and other. As of December 31, 2011, American Realty Investors, Inc. (ARL) through subsidiaries owned 82.69% interest in TCI.
TCI’s contractual advisor is Prime Income Asset Management, LLC (Prime). Prime is engaged in locating, evaluating and recommending real estate and real estate-related investment opportunities. Prime also arranges, debt and equity financing with third party lenders and investors. Prime also serves as advisor to ARL and IOT. Triad Realty Services, L.P. (Triad), an affiliate of Prime, provides management services for its commercial properties.
At December 31, 2011, the Company’s income-producing properties consisted of: 16 commercial properties consisting of 11 office buildings, one industrial warehouse, three retail properties, and one parking garage, comprising in aggregate approximately 3.6 million square feet; 50 residential apartment communities comprising 9,317 units, excluding apartments being developed.
On March 23, 2011, the Company sold 82.20 acres of land known as Denton Coonrod land located in Denton, Texas and 23.24 acres of land known as Cooks Lane land located in Tarrant County, Texas. On March 23, 2011, it sold its membership interest in 1340 Poydras Corp. to ABCLD Real Estate, LLC. On March 23, 2011, it sold its investment in TCI Courtyard, Inc. to One Realco Corporation. On March 30, 2011, the Company sold six parcels, comprising approximately 195.52 acres of undeveloped land known as Dominion land, Hollywood Casino land, Stanley Tools land and Wilmer 88 land, all located in Dallas County, Texas. On April 1, 2011, it sold of 6.80 acres of land known as Travis Ranch land located in Kaufman, Texas, to Kelly Lot Development, Inc. On April 1, 2011, it purchased 100% of the general and limited partnership interest in Garden Whispering Pines, LP, which owns Whispering Pines apartments, a 320-unit complex located in Topeka, Kansas.
On April 1, 2011, the Company purchased 100% of the membership interest in EQK Sesame Square, LLC, which owns Sesame Square, a 20,715 square-foot office building located in Anchorage, Alaska. On July 1, 2011, it sold 12.72 acres of land known as Centurion 12 land located in Fort Worth, Texas. On August 31, 2011, it sold 100% of its membership interests in TCI Luna Ventures, LLC to ABCLD Income, LLC. On September 1, 2011, it sold seven land parcels, comprising approximately 107.73 acres of undeveloped land located in Austin, Texas, Dallas County, Texas, Denton County, Texas and Tarrant County, Texas, known as Andrew B land, Andrew C land, DeSoto Ranch land, Mansfield land, Pioneer Crossing land, Senlac land and Sheffield land, to TCI Luna Ventures, LLC. On September 27, 2011, it sold a 256-unit apartment complex known as Spyglass apartments, located in Dallas, Texas. On November 1, 2011, it acquired 100% of the membership interest in Bridgeview Plaza, LLC. On December 21, 2011, the Company sold 17.07 acres of land known as Lamar Parmer Lane land located in Austin, Texas.
Transcontinental Realty Investors Inc
SUITE 800, 1603 Lyndon B Johnson
DALLAS TX 75234