Abode Properties Acquires The Waterford at Summer Park in Rosenberg Texas

Abode Properties is pleased to announce its most recent transaction, adding another Class A multifamily asset to its steadily growing portfolio.

On June 26th, 2015, Abode Properties welcomed The Waterford at Summer Park in Rosenberg, Texas, to its family of Class-A multifamily residential properties. The property is situated within easy walking distance of Brazos Town Center, where you will find the city’s best amenities. This 196 unit apartment complex was built in 2013. The Waterford at Summer Park is conveniently located next to U.S. Highway 59 (I-69) and a short drive to Sugar Land’s Town Square, Constellation Field and all Ft. Bend County’s employment centers. The nearby Grand Parkway offers quick and easy access to Katy, West Houston and the Energy Corridor.

“We are excited to add this new asset to our portfolio. The Waterford at Summer Park is another example of our commitment to maximize the underlying values in each of our asset classes. With its great location, vast array of amenities and affordable pricing, this property is one of the most compelling places to live in Rosenberg,” commented Daniel J. Moos CEO and President of Abode Properties.

Abode is immediately poised to address existing and future demand for quality multifamily residential housing. Greater shareholder value will continue to be created through the investments in both acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. These markets, generally, represent high-growth suburban areas, where an increasing population and strong economic conditions signal long-term and resilient demand. Accordingly, Abode’s seasoned executive leadership and expertise will continue to strategically manage cash flow, revenue, capital, and reserves, while focusing on increasing the overall equity base, optimizing leverage, and ensuring market diversification.

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 maintain a portfolio of top-tier 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, efficient on-site management, and an experienced leadership team with forward thinking capabilities in order to realize maximum cash flows and consistent returns. We will continue our market diversification 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. Affiliated companies include American Realty Investors, Inc. (NYSE: ARL), Income Opportunity Realty Investors, Inc. (MKT:IOT), Regis Property Management, LLC, and Pillar Income Asset Management, Inc.

Transcontinental Realty Investors, Inc.maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, developing, and sale of real estate across many geographic regions in the United States. A New York Stock Exchange company, Transcontinental is traded under the symbol "TCI". Transcontinental produces revenue through its ownership and 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.

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