Transcontinental Realty Investors swings to Q3 loss of $0.02 a share
TCI•Transcontinental Realty Investors reported a third-quarter net loss attributable to the company of $141,000, compared with a $724,000 profit a year earlier. Revenue rose 8% to $13.91 million.
1. Quarterly results
Transcontinental Realty Investors swung to a third-quarter net loss attributable to the company of $141,000 from a $724,000 profit a year earlier. Revenue increased 8% year over year to $13.91 million, primarily due to higher multifamily revenue from development-property lease-ups.
2. Property acquisition
On October 2, the company agreed to acquire four multifamily properties by settling four notes receivable and paying $12 million in cash.
