Southern Properties Capital Elects New Independent External Director
May 29 2019 - 8:00AM
Business Wire
Southern Properties Capital (SPC), a subsidiary of Dallas-based
real estate investment company Transcontinental Realty
Investors, Inc. (NYSE: TCI), is pleased to announce its
newly elected Independent External Director, Mr. Ehud Erez.
The Company's Audit Committee recently confirmed that Mr. Ehud
Erez complies with the criteria required for appointment as a
non-external independent director of the Company, as well as a
member of the Audit, Remuneration and Balance sheet Committees.
With decades of experience, Mr. Erez is an economist and a
highly regarded real estate investment manager active in the US and
Canadian real estate markets. Mr. Erez received his B.A. degree in
economics and accounting from Hebrew University of Jerusalem. He is
a Certified Public Accountant and has lectured on advanced
accounting issues at his alma mater and is the author of several
articles and textbooks.
In 2001, Mr. Erez was appointed as the CEO OF ELAD CANADA INC,
one of the leading real estate companies in Canada. Among the
highlights of his tenure, Mr. Erez successfully negotiated and
closed the MetCap residential portfolio - one of the largest
residential acquisitions in Canadian history. Mr. Erez was
responsible for acquiring 18,000 residential units and 7 million SF
of residential, commercial and retail space throughout Canada.
After completing his position in Canada, Udi served as the CEO
of Elad Group (2014-2011) one of the leading and most active
development companies in Manhattan. During his tenure as CEO, he
supervised the purchase of two mixed-use projects, totaling
approximately 1.5 million SF, with over 500 residential units,
office and retail space.
Most recently, Mr. Erez serves as a Board member of Extell
Limited, Luzon Group, MRR Thirteen, AII Year Holdings and is
chairman of Mishorim Investments. All are public companies traded
in the TSE.
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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190529005150/en/
Chris Childress, Pillar Income Asset Management469.522.4275 /
press@pillarincome.com
Transcontinental Realty ... (NYSE:TCI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Transcontinental Realty ... (NYSE:TCI)
Historical Stock Chart
From Apr 2023 to Apr 2024