Southern Properties Capital Begins Lease Up of Spyglass of Ennis in Ennis, Texas
01 December 2018 - 12:00AM
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 Spyglass
of Ennis asset in Ennis, Texas. The class A asset will become part
of the Southern Properties Capital portfolio.
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Spyglass of Ennis apartments in Ennis,
Texas (Photo: Business Wire)
Spyglass of Ennis is a fully gated community and consists of 188
units including 72 one-bedroom, one-bathroom apartments ranging
from 660 to 794 square feet and 116 two-bedroom, two-bathroom units
ranging from 999 to 1156 square feet. Interior amenities include
granite countertops, natural stone topped vanities, private
balconies, and vinyl wood plank flooring.
Note-worthy community amenities include a luxury clubhouse with
kitchen, Wi-Fi café, resort style swimming pool with jacuzzi,
fitness center, BBQ grilling area and jogging trail. Tenants have
the option to rent detached carports or private garages.
“Leasing activity has formally commenced at our newest Class A
property, Spyglass at Ennis,” said Brad Kyles, EVP of Multifamily
Residential Operations. “Spyglass brings contemporary style and
design to the community with wonderful amenities and an outstanding
location.”
Spyglass of Ennis Apartments is in close proximity to James
Bowie Elementary, Dorie Miller Middle and Ennis high schools. Also
conveniently located are retail, pharmacies and a medical center.
Nearby parks include Lake Clark Park, Kachine Prairie Park and
Pierce Park.
Ennis, Texas is just 25 minutes south of downtown Dallas on
IH-45. Ennis is home to the 40 mile drive of the breathtaking
bluebonnets called the "Official Bluebonnet Trail of Texas".
Residents and visitors can enjoy authentic Czech food, music, and
fun at the National Polka Festival held every Memorial Day weekend,
while staying at the city’s quality bed and breakfast inns and
lodges. Year round activities include unique shopping in the
historic district, recreational activities include fishing, skiing,
camping at scenic Bardwell Lake. Ennis also boasts seven screen
Galaxy Drive-in Theatre, Texas Motorplex, Railroad and Cultural
Heritage Museum, and Ennis Public Theatre.
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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Chris Childress469.522.4275 / press@pillarincome.com
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