Transcontinental Realty Investors, Inc. & Southern Properties Capital Acquire the Landing Apartments on Bayou Cane in Houma, ...
December 12 2018 - 8:00AM
Business Wire
Southern Properties Capital, a subsidiary of Transcontinental
Realty Investors Inc., (NYSE: TCI) a Dallas-based real estate
investment company, is pleased to announce its most recent
multi-family acquisition of The Landing Apartments on Bayou Cane
(The Landing) in Houma, Louisiana.
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the full release here:
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The Landing at Bayou Cane apartments in
Houma, Louisiana (Photo: Business Wire)
The 240-unit Class A garden-style luxury apartment community has
13 buildings and offers a unit mix of studio, one, two and three
bedroom units ranging from 500 square feet to 1498 square feet.
Interior amenities include crown molding, spacious pantries and
garden tubs; as well as high-tech security systems residents can
control with their smart phones. Units are also prewired for
surround sound. Exterior amenities offer a club house with stylish
lounge area, study room equipped with PC and Mac computers, 24-hour
exercise facility, volleyball court, pool/hot tub area with
lounging deck and an open green space.
“Houma is the largest principal city in Terrebonne Parish. Its
proximity to New Orleans and Baton Rouge make this asset a prime
example of our asset strategy,” stated CEO and President Daniel J.
Moos. “The Landing Apartments are located in an area rich with
history, culture, tourism, and economic stability.”
With French, Spanish, Acadian and Native American inhabitants a
unique Cajun culture was born. Houma and the surrounding area
boasts the draw of authentic Acadian culture, diverse environment
and wildlife, plantation homes, and excellent food. The city's
close proximity to New Orleans, Baton Rouge and Lafayette make
Houma-Terrebonne an excellent central location for the visitor who
wishes to see all the sights and sounds of the bayou wonderland of
South Louisiana.
The Landing’s address offers quick and easy access to shopping,
dining, and entertainment. It is served by the Terrebonne Parish
school district and is assigned to Southdown Elementary, Houma
Junior High and Terrebonne High schools. The Houma-Terrebonne Civic
Center is on Civic Center Drive, approximately 5 miles from The
Landing.
Two major water highways intersect in Houma, bringing together
the Gulf Intercostal Waterway and the Houma Navigational Canal. The
Port of Terrebonne is 26 miles from the Gulf of Mexico. Alligator
sight-seeing, marsh and wildlife tours, Chauvin Sculpture Garden
and the Bayou Terrebonne Waterlife Museum are just some of the
attractions that Houma offers.
About Transcontinental Realty Investors
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.
About Southern Properties Capital
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 buildings in Texas. The company has
already used funds to acquire additional multi-family assets within
its strategic footprint, and expects significant expansion by
continuing to utilize the Israeli bond platform.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181212005066/en/
Chris Childress, Pillar Income Asset Management469.522.4275 /
press@pillarincome.com
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