Transcontinental Realty Investors Inc. Acquires Ground Lease for Stanford corporate Centre and Telos Fitness Center
January 14 2019 - 08:00AM
Business Wire
Southern Properties Capital (SPC) a subsidiary of
Transcontinental Realty Investors Inc., (NYSE: TCI) a Dallas
based real estate investment company, is pleased to announce the
ground lease acquisition for Stanford Corporate Centre and
adjoining Telos Fitness Center. Transcontinental purchased both
buildings in 2008.
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the full release here:
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State of the Art Telos Fitness Center in
North Dallas, Texas (Photo: Business Wire)
Stanford Corporate Centre is a 13-story, 274,684-square-foot
office building adjoining 63,000-square-foot Telos Fitness Center
located in the Far North Dallas office corridor. The asset offers
an exceptional location along the Dallas North Toll way just
north of LBJ Freeway in the heart of business and tourist trade in
Dallas. This location provides a strong amenity base, including the
Dallas Galleria Mall and Village on the Parkway, its proximity to
the city’s premier residential areas (Park Cities, Preston
Hollow, Plano and Frisco) and efficient access to all of the
city’s primary commercial centers, including DFW
International Airport, Addison Airport, Legacy Business Park
and Preston Center. Stanford Corporate Centre is home to SoftLayer,
iHeart Media Dallas, Academy, and PBK Architects.
Telos Fitness Center was designed to reflect many international
best practices. The facility blends state-of-the-art fitness
equipment and the professional programming of a world class
training center, with the luxury, comfort and service of a premier
spa. Telos offers a distinctive fitness environment that provides
its clients with a sense of warmth and belonging, while
simultaneously delivering superior exercise experiences to
transform their health and fitness.
According to Southern Properties Capital and Transcontinental
Realty Investors CEO and President, Daniel J. Moos, “As the Owner
of the Stanford Corporate Centre and the Telos Fitness Center
buildings and our recent purchase of the ground lease, TCI furthers
its commitment to our quality portfolio of commercial and
multi-family real estate.”
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005085/en/
Chris Childress, Pillar Income Asset Management469.522.4275 /
press@pillarincome.com
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