Dominion at Mercer Crossing Apartments Nearing Lease-Up
December 05 2018 - 1:07PM
Business Wire
Transcontinental Realty Investors Inc. (NYSE: TCI), a
Dallas-based real estate investment company, is pleased to announce
that Mercer Crossing development continues to expand. Dominion at
Mercer Crossing Apartments are currently under construction and
projected for completion in the first quarter of 2020. TCI has a
financial interest in this class A asset located at Mercer Crossing
and sold this tract of land to the developer, as well as several
other tracts in the area to various developers.
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the full release here:
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Dominion at Mercer Crossing Apartments in
Farmers Branch, Texas (Photo: Business Wire)
The mid-rise property will consist of two residential four story
buildings; housing 256 units. The Dominion at Mercer Crossing
apartments will offer spacious 500 square foot studios, one bedroom
units ranging from 616 to 858 square feet, two bedroom floor plans
ranging from 991 to 1233 square feet and three bedroom units
ranging from 1436 to 1490 square feet.
Each apartment boasts a gourmet kitchen with granite
countertops, energy star appliances, designer lighting and plumbing
fixtures, wood plank flooring and an in-home washer and dryer.
Select apartment homes offer residents a private yard. The
property’s note-worthy amenities include a resort style pool with
tanning ledges and cozy cabanas, fully equipped fitness center,
parking garage, elevators, and walking trail.
“Though TCI isn’t the direct developer of this property, we do
appreciate working with quality third party developers,” commented
TCI’s CEO and President Daniel J. Moos. “Mercer Crossing is on
track to be one of Dallas’s premier locations and it is exciting to
watch an asset being built right outside your office window. TCI
sold the parcel of land to this premier developer and continued to
work together to ensure the success of the project.”
The property is situated inside the 1,200 acre Mercer Crossing
development. Mercer Crossing is at the heart of the Dallas-Ft Worth
metroplex. Located near the junction between interstates 635, 35E,
George Bush Tollway, and Sam Rayburn Tollway, the development will
feature retail, restaurant, hotel, corporate office space and
multifamily residential. Fifty companies call Mercer Crossing home.
Mercer Crossing is at the Center of Dallas-Ft Worth.
Transcontinental Realty Investors maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, development, 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 ownership and
professional management of income producing apartments and office
buildings 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 has dramatically expanded its development
capabilities associated with luxury apartment homes through its
wholly owned subsidiary Abode Properties, principally on land it
owns or acquires.
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version on businesswire.com: https://www.businesswire.com/news/home/20181205005684/en/
Chris Childress, Pillar Income Asset Management469.522.4275 /
press@pillarincome.com
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