Transcontinental Realty Investors Inc. Announces Historic Occupancy Rate in Browning Place in Dallas, Texas
May 23 2018 - 8:00AM
Business Wire
Transcontinental Realty Investors Inc. (NYSE: TCI),
Southern Properties Capital (SPC), and Regis Property Management
LLC recently achieved 95% occupancy in Dallas asset Browning
Place.
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the full release here:
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Browning Place office complex at Mercer
Crossing in Dallas, Texas (Photo: Business Wire)
A Southern Properties Capital owned asset, Browning Place office
community is located at Lyndon B. Johnson Freeway and Luna Road.
The Class A office complex consists of four office buildings
totaling 627,560 square feet with amenities that include a
restaurant, bank, on-site Management, 24/7 courtesy officer, and
jogging trail. The property is located in the Mercer Crossing mixed
use development that will include office, single family and
multifamily residential, hotel, and retail.
Browning Place tenants include Pacific Union Financial, NTT Data
Consulting, National Bioskills Laboratories, GSA (U.S. General
Services Administration), 7-Eleven, Liberty Bankers Life Insurance,
Medestar, Expeditors International of Washington, Telvista, Point
Solutions, LLC, and Kintetsu Global IT.
“It has been a very successful year for Regis staff,
Transwestern, and Jones Lang LaSalle,” commented Scott Porter,
President of Regis Property Management. “The demand for space in
Browning has been phenomenal and continues to be strong due to the
properties location, amenities, and strong onsite management staff.
Other office buildings in the SPC portfolio are leasing at record
rates as well. 600 Las Colinas in Irving is 94% leased
and Stanford Corporate Center 98% leased.”
Southern Properties Capital Ltd. (SPC), a British Virgin Islands
corporation, is an indirect subsidiary
of Transcontinental Realty Investors Inc. (NYSE: TCI), a
Dallas-based real estate investment company. 85% of the company’s
properties are located in Texas, where management has intimate
familiarity with sub-markets and unique access to off-market deals.
Southern is committed to developing and managing multifamily assets
in areas with sustainable and viable economic growth, with a focus
on Class A HUD eligible assets that further achieve the company’s
growth strategy, which includes offering and sale of nonconvertible
Series A Bonds with the Tel Aviv Stock Exchange Ltd. (the
“TASE”).
Transcontinental Realty Investors 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.
Regis Property Management, LLC currently manages over 45
properties, which include office, industrial, and retail uses,
comprising a total of over 4.3 million square feet and a combined
market value exceeding $375 million. Regis was selected to manage
the property portfolios for three publicly traded companies as well
as several affiliated and nonaffiliated private companies. Our
focus is on individual attention, innovation and customer
satisfaction, a winning combination for everyone.
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version on businesswire.com: https://www.businesswire.com/news/home/20180523005405/en/
On behalf of Transcontinental Realty Investors Inc.Chris
Childress, 469-522-4275
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