DALLAS--(BUSINESS WIRE)--
Abode Properties, a Dallas, Texas real estate investment company, anticipates stellar growth for 2017.
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Metropolitan - Abode Properties' Class A asset in Little Rock, Arkansas. (Photo: Business Wire)
Abode Properties’ portfolio consists of top tier, Class A multifamily assets in emerging markets that correspond with both sustainable and viable economic growth activity. Enhanced shareholder value will continue to be generated through investments in both the acquisition and development of sustainable Class A multifamily housing in growing markets.
“The US multifamily market continues to outperform every other property sector,” commented Brad Kyles, EVP-Multifamily Residential Operations. “We acquired four Class A properties in 2016 and began construction on four more new developments. Our quality amenities coupled with the rising demand for high end apartments means growing our portfolio to meet those demands. We have over 20 additional projects at various stages of development in the pipeline.”
According to Freddie Mac renter households are poised to grow in every generational cohort due to a range of economic and demographic factors. Positive job growth and a stable economy should help more Millennials form households and enter the market.
“Abode’s overall occupancy was just over 95% for January 2017. This is greatly attributed to the quality of our assets, strength of our property and asset management teams, and the close attention to managing details as demonstrated throughout all levels of our organization,” commented President and CEO, Daniel J. Moos. “Through our expert market research we continue to add assets in those select markets with the strongest potential.”
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.
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