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Southern Properties Capital Raises $113 Million on Israeli Bond Market

Transcontinental Realty Investors Partners with Radhan to Secure Bond Deal
July 31, 2017
Southern Properties Capital, a multifamily and office investment subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI) and Abode Properties, both Dallas-based real estate investment companies, completed a $113 million bond offering on the Tel Aviv Stock Exchange.

Southern Properties Capital operates primarily in Texas and specializes in Class A multifamily assets in emerging markets throughout the South.

Southern’s bond offering was backed by over 3,000 multifamily units, which represent a small portion of the total units owned by Transcontinental, as well as over 1.5 million square feet office buildings in Texas.

The company said it has already used some of the funds to acquire additional multifamily assets in its target markets, and expects to continue to expand its holdings.

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

According to TransContinental, SPC is the first Dallas-based company to raise capital on the Israeli bond market, which has previously been dominated by Manhattan-based companies.

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