Transcontinental Realty Investors, Inc. (TCI)
subsidiary Southern Properties Capital (SPC) today announced four
assets in lease up located in Las Vegas, Nevada, Rowlett, Texas,
New Port Richey, Florida, and Sevierville, Tennessee.
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the full release here:
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Transcontinental Realty Investors
Multifamily Assets in Lease Up
Abode Red Rock apartments is a 308 unit, Class A, mid-rise
residential superstructure composed of 1 and 2 bedroom apartment
units available in two design finishes. Units feature gourmet
kitchens with high quality stainless steel appliances, islands,
tile backsplash, quartz counters, and modern cabinetry with the
self-closing hinges. Also included in each unit is designer
lighting, stand-alone showers, oversized garden tubs, wood plank
flooring, high ceilings, stackable GE washer and dryer, large
picture windows and deep walk-in closets. Located in the highly
desirable Spring Valley area, Abode Red Rock is within walking
distance of Tropicana Beltway Center, a popular shopping and retail
area with grocery stores, shopping and restaurants. The community
is surrounded by amazing views, from the mountains of Red Rock
Canyon National Park to the nighttime city lights of the Las Vegas
Strip.
“Abode Red Rock has already reached stabilization at 98% leased
and 95% occupied,” commented Daniel Moos, CEO and President. “The
remaining three developments, Terra Lago, Sawgrass Creek, and
Overlook at Allensville Square have strong leasing activity as
well. The successful leasing of these assets is a direct result of
our commitment to the quality and luxury lifestyle we offer our
tenants and surrounding community.”
Located along Lake Ray Hubbard in Rowlett, Texas and 72% leased,
Terra Lago is a 451 unit Class A Midrise Multi-Family community
designed with three and four story apartment buildings. The
Lakeside location will offer one, two, and three bedroom apartments
with high-quality amenities and stunning lake views. A structured
parking garage with entry at each floor level, temperature
controlled corridors and cyber lounges are the comforts and
conveniences offered. Interior features will include granite
countertops, ceiling fans, 2" faux wood blinds, pendant lighting,
kitchen islands, oval garden tubs, walk-in closets, patios and
balconies, walk-in pantries, and eat-in kitchen bars. Select units
offer double vanities and bath linen closets. Exterior amenities
will comprise of resort style pools, decked courtyards with water
features, tanning ledges, BBQ grills, fitness centers, business
center and a bocce ball court.
Sawgrass Creek Phase II is 76% leased and is located in New Port
Richey, Florida. The property offers modern amenities such as a
resort style pool and clubhouse, state of the art fitness center,
walking paths with tot lot, bocce ball court, and a fire pit with
benches. The property also offers 66 personal garages, rentable
storage units, and covered bike storage. New Port Richey, Florida
blends nature, beaches, shopping, restaurants, and culture with a
small-town feel. The city hosts many festivals and special events
throughout the year. Its unique river front landscape and
historical downtown and main street make New Port Richey an
exciting place to live.
Overlook at Allensville Square Phase II is a 144 unit project
offering breathtaking views with a neighborhood feel while being
only minutes from downtown Sevierville. At 92% leased, the property
has proven to be a winner amongst the local community. This
elegant, gated, garden style 6 building community is composed of 1,
2 and 3 bedroom apartment homes, ranging from approximately 669 to
1,041 square feet and nestled in the quiet foothills of the Smoky
Mountains. Exterior amenities include a clubhouse, children’s
playground, BBQ grills/grilling areas, outdoor fireplace, and pool
with a deck. Extra amenities include a dog park, car care station
and juice bar pavilion.
About Transcontinental Realty Investors
Transcontinental Realty Investors
(www.transconrealty-invest.com) maintains a strong emphasis on
creating greater shareholder value through acquisition, financing,
operation, developing, 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 professional
management of apartments, office buildings, warehouses, and retail
centers 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
also develops new properties, such as luxury apartment homes
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/20191001005025/en/
Chris Childress 469.522.4275 / press@pillarincome.com
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