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Transcontinental Realty Investors Inc. (TCI+0.21%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports on the company's operations, including the management of multifamily and commercial properties across the Southern United States. The company is a fully integrated externally managed real estate firm.
The company holds assets through its subsidiary, Southern Properties Capital Ltd., which raises funds by issuing non-convertible bonds traded on the Tel-Aviv Stock Exchange. As of the end of 2024, the company owned 83.2% of Income Opportunity Realty Investors, Inc.
The company reported total assets of $1.07 billion and total liabilities of $217.7 million as of December 31, 2024. The company's equity was $852.8 million.
The company operates two segments: multifamily properties and commercial properties. The multifamily segment includes 14 properties in operation and four under development. The commercial segment includes four office buildings.
During 2024, the company engaged in various financing activities, including the extension and replacement of loans with interest rates tied to the Secured Overnight Financing Rate (SOFR).
The company is involved in ongoing development projects, including the construction of multifamily properties in Texas and Florida. Development costs incurred as of the end of 2024 amounted to $5 million for the Mountain Creek project and $36.6 million for the Alera project.
The company faces risks associated with the real estate industry, including economic fluctuations, competition, and regulatory changes. The company also acknowledges cybersecurity risks and has measures in place to address potential threats.
Transcontinental Realty Investors does not anticipate paying cash dividends to common stockholders in the near future. The company has a stock repurchase program with 650,250 shares remaining as of December 31, 2024.
The company continues to focus on its strategy of acquiring, developing, and managing income-producing multifamily properties in the Southern United States to maximize long-term value for stockholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Transcontinental Realty Investors Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.