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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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.
View source 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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