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TCI Subsidiary, Southern Properties Capital, is First Dallas Company to Raise Capital on the Israeli Bond Market

Transcontinental Realty Investors Inc. (NYSE: TCI) CEO and President Daniel J. Moos announces that Southern Properties Capital (SPC), a subsidiary of Transcontinental Realty Investors Inc. and Abode Properties, both Dallas-based real estate investment companies, recently completed a $113 million bond series on the Tel Aviv Stock Exchange, making it the first company out of Dallas to raise capital on the Israeli bond market. Prior to the Southern Properties Capital issuance, the market was previously dominated by Manhattan-based companies, and has since shown increased demand for additional bond issuers throughout the United States.

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Transcontinental Realty Investors and affiliates partner with Radhan to secure major bond deal in Is ...

Transcontinental Realty Investors and affiliates partner with Radhan to secure major bond deal in Israeli market.

The issuance was highly sought after by Israeli institutional investors, displaying the Israeli market’s increased comfort level with American-based issuers, and continuing the trend that has emerged in recent years as an increasingly viable means for US-based real estate companies to raise unsecured corporate debt.

The company raised 400 million shekels, approximately $113 million, in its first bond series of unsecured “investor graded” corporate debt, due to mature in 2023. The company’s bonds have performed well since the issuance and are consistently traded at a premium, reflecting the market's favorability towards them.

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, (which represent only a small portion of the total units owned by TCI) as well as over 1.5 million square feet 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.

”During the past several years we’ve made major steps toward our strategic financing goals,” said Daniel J. Moos, CEO and President. “This historic Israeli bond deal further solidifies TCI, Abode, and SPC as major players in the region’s real estate market.”

The deal was led by Yuval Barak and Eden Ozeri from Radhan - a leading financial consultancy firm out of Israel who continue to advise the company in the Israeli market.

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.

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.


Pillar Income Asset Management
Chris Childress, 469-522-4275

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