Market Overview

Leasing Begins at Terra Lago Lakefront Apartments in Rowlett, Texas

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Abode
Properties
a subsidiary of Transcontinental Realty Investors Inc.,
(NYSE:TCI) a Dallas-based real estate investment company, is pleased to
announce leasing has begun at its Terra
Lago
asset. The class A asset will become part of the Southern
Properties Capital portfolio.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180731005090/en/

Terra Lago lakefront apartments in Rowlett, Texas (Photo: Business Wire)

Terra Lago lakefront apartments in Rowlett, Texas (Photo: Business Wire)

"Leasing activity has formally commenced and tenants will start
occupancy over the next several weeks," said Daniel Moos, CEO and
President. "Terra Lago is our largest complex built at one time in
Texas. The asset is a great achievement for our ever expanding
portfolio."

Terra Lago is a 451 unit Midrise Multi-Family community located along
the east line of Scenic Drive in the far eastern portion of Rowlett,
Texas. The property has water frontage along Lake Ray Hubbard.

The Class A property is designed with three and four story mid-rise
apartment buildings. The Lakeside location will offer one, two, and
three bedroom apartments with high-quality amenities and stunning lake
views. A structured parking garage with entry at each floor level,
temperature controlled corridors and cyber lounges are the comforts and
conveniences offered. Interior features will include granite
countertops, ceiling fans, 2" faux wood blinds, pendant lighting,
kitchen islands, oval garden tubs, walk-in closets, patios and
balconies, walk-in pantries, and eat-in kitchen bars. Select units offer
double vanities and bath linen closets. Exterior amenities will comprise
of resort style pools, decked courtyards with water features, tanning
ledges, BBQ grills, fitness centers, business center and a bocce ball
court.

Rowlett is just 20 minutes from downtown Dallas north of IH-30,
surrounded by more than 30 miles of shoreline on beautiful Lake Ray
Hubbard, and home to over 62,000 residents. This Multifamily-friendly
setting is conveniently located near all the fine dining, shopping, and
entertainment that Rowlett has to offer.

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. All of Abode Properties means one thing -
"Home".

Transcontinental
Realty Investors
maintains a strong emphasis on creating greater
shareholder value through acquisition, financing, operation,
development, 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 ownership and professional management of income producing
apartments and office buildings 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 has dramatically expanded its development
capabilities associated with luxury apartment homes through its wholly
owned subsidiary Abode Properties, principally on land it owns or
acquires.

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 (out of a total of approximately 8,000 owned and
operated by TCI), as well as over 1.5 million square feet of 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.

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