December 11, 2018
Dallas-based Southern Properties Capital, a subsidiary of Transcontinental Realty Investors, joined forces with Macquarie Group Ltd. to form Victory Abode Apartments. The partnership’s goal is to invest in, and develop, multifamily properties in secondary and tertiary markets.
The JV currently has 10,133 units in 11 states, with three assets under construction. TCI and SPC contributed more than 50 multifamily assets to the partnership, with Macquarie adding a substantial equity investment. The partnership intends to increase the overall size of its portfolio through development and opportunistic acquisitions.
In separate news, Southern Properties Capital recently acquired the 144-unit Chelsea Apartments at 4630 Collier St. in Beaumont TX from Key Real Estate Co. of New Orleans.
Pictured: Chelsea Apartments, Beaumont, TX
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Tags: Apartments & Multifamily