Leasing Begins at Terra Lago Lakefront Apartments in Rowlett, Texas
July 31 2018 - 10:00AM
Business Wire
Abode Properties a subsidiary of Transcontinental Realty
Investors Inc., (NYSE: TCI) a Dallas-based real estate investment
company, is pleased to announce leasing has begun at its Terra Lago
asset. The class A asset will become part of the Southern
Properties Capital portfolio.
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Terra Lago lakefront apartments in
Rowlett, Texas (Photo: Business Wire)
“Leasing activity has formally commenced and tenants will start
occupancy over the next several weeks,” said Daniel Moos, CEO and
President. “Terra Lago is our largest complex built at one time in
Texas. The asset is a great achievement for our ever expanding
portfolio.”
Terra Lago is a 451 unit Midrise Multi-Family community located
along the east line of Scenic Drive in the far eastern portion of
Rowlett, Texas. The property has water frontage along Lake Ray
Hubbard.
The Class A property is designed with three and four story
mid-rise 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.
Rowlett is just 20 minutes from downtown Dallas north of IH-30,
surrounded by more than 30 miles of shoreline on beautiful Lake Ray
Hubbard, and home to over 62,000 residents. This
Multifamily-friendly setting is conveniently located near all the
fine dining, shopping, and entertainment that Rowlett has to
offer.
Abode Properties is a subsidiary of Transcontinental Realty
Investors Inc., (NYSE: TCI), a Dallas-based real estate investment
company. Abode’s investment and strategic focus is to acquire,
develop, and operate a portfolio of desirable multifamily
residential properties, while capitalizing on our ability to obtain
long term and static debt structures. The portfolio stands to
benefit from historically established, proven, and successful
operational practices, seasoned on-site management, and an
experienced leadership team with forward thinking capabilities in
order to realize maximum cash flows and consistent returns, while
maintaining unequaled resident and customer service. We are
disciplined and prudent allocators of capital and we will continue
growing our geographically diverse portfolio from the Southwest to
the Southeast. These markets are geographically located in areas of
the country that correspond with both sustainable and viable
economic growth activity. All of Abode Properties means one thing -
“Home”.
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.
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 of 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/20180731005090/en/
for Transcontinental Realty Investors Inc.Chris Childress,
469-522-4275
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