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Transcontinental Realty Investors, Inc. Closes Sale of 9 Multi-Family Properties

  Transcontinental Realty Investors, Inc. Closes Sale of 9 Multi-Family
  Properties

Business Wire

DALLAS -- January 15, 2014

Transcontinental Realty Investors, Inc. (TCI) announces the sale of 2400
multifamily units to Atlas Residential. TCI was represented by Pillar Income
Asset Management Inc. on the deal that included nine TCI properties
(approximately 2000 of the 2400 units) with the approximate gross portfolio
price of $190 million. The remaining two properties were managed by Pillar and
owned by an unrelated company. All parties have been working diligently for
several months to facilitate the sale of these assets.

“Though TCI’s strategic focus remains strongly committed to growing our
multi-family portfolio, this deal provided us with an excellent opportunity to
sell off a number of properties in various markets scattered around Texas,”
stated Daniel Moos, CEO and President of TCI. “Timing of this transaction was
of paramount importance in that Atlas Residential was looking to expand their
portfolio at the same time we were looking to prune our asset base.”

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.

Pillar Income Asset Management, Inc. (www.pillarincome.com) is a Dallas-based
real estate management company, which develops and manages in excess of $2.5
billion of real estate for public and private real estate entities. Affiliated
companies under management or advisement by Pillar include American Realty
Investors, Inc. (NYSE: ARL); Transcontinental Realty Investors, Inc. (NYSE:
TCI); Income Opportunity Realty Investors, Inc. (AMEX: IOT); and Regis
Property Management, LLC (www.regisinc.com).

Contact:

Pillar Income Asset Management
Chris Childress, 469-522-4275
press@pillarincome.com
 
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