Transcontinental Realty Investors Inc. & Abode Properties Commences Formal Leasing Activity at Abode Red Rock Apartments in L...
July 16 2018 - 10:00AM
Business Wire
Transcontinental Realty Investors, Inc. (NYSE: TCI) and
Abode Properties announced today that the Abode at Red Rock
apartments in Las Vegas, Nevada will be open and accepting leases
within the week.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180716005175/en/
Abode Red Rock Apartments -
Transcontinental Realty Investors, Inc.’s Class A development in
Las Vegas, Nevada (Photo: Business Wire)
Abode Red Rock apartments is a 308 unit, Class A, mid-rise
residential superstructure composed of 1 and 2 bedroom apartment
units available in two design finishes. Units feature gourmet
kitchens with high quality stainless steel appliances, islands,
tile backsplash, quartz counters, and modern cabinetry with the
self-closing hinges. Also included in each unit is designer
lighting, stand-alone showers, oversized garden tubs, wood plank
flooring, high ceilings, stackable GE washer and dryer, large
picture windows and deep walk-in closets.
The building’s stylish design provides multi-color roof tiles, a
façade of warm Mediterranean colors, real and simulated stone, and
exterior gas lanterns. Property amenities include an internal
parking structure, private courtyards, pedestrian zones with
cobblestone sidewalks, a rooftop lounge with fire pits, a 24-hour
state-of-the-art fitness facility, resort-inspired pool surrounded
by lush landscaping, separate wading pool with beach front access
and common areas equipped with Wi-Fi. In addition, the property
boasts outdoor terraces with BBQ grills, a fenced pet park, and
modern clubhouse with full a service kitchen and media lounge.
Located in the highly desirable Spring Valley area, Abode Red
Rock is within walking distance of Tropicana Beltway Center, a
popular shopping and retail area with grocery stores, shopping and
restaurants. The community is surrounded by amazing views, from the
mountains of Red Rock Canyon National Park to the nighttime city
lights of the Las Vegas Strip.
“Our strategy of developing assets in sustainable and emerging
markets across the United States is serving us well,” commented
President and CEO Daniel J. Moos. “Abode Red Rock is located within
Las Vegas’s hottest residential submarket called the 'Southwest'
and is a prime example of our continuing strategic focus and
success.”
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 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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180716005175/en/
On behalf of Transcontinental Realty Investors Inc.Chris
Childress, 469-522-4275press@pillarincome.com
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