Transcontinental Realty Investors, Inc. (TCI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

TransContinental Realty Investors, Inc. (TCI) representa una potencia dinámica de inversión inmobiliaria que navega estratégicamente el complejo panorama de las inversiones inmobiliarias en múltiples mercados estadounidenses. Al aprovechar un sofisticado lienzo de modelo de negocio, TCI transforma los enfoques de inversión inmobiliaria tradicionales a través de estrategias innovadoras que combinan la gestión de activos profesionales, la selección de cartera diversificada y las metodologías de inversiones basadas en datos. Su modelo único ofrece a los inversores una vía convincente para generar ingresos consistentes, mitigar los riesgos y capitalizar las oportunidades de bienes raíces estratégicas en los sectores residenciales y comerciales.

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocios: asociaciones clave

Alianza estratégica con fideicomisos de inversión inmobiliaria (REIT)

A partir de 2024, TCI mantiene asociaciones estratégicas con los siguientes REIT:

Socio de REIT	Tipo de asociación	Valor de inversión
Vornado Realty Trust	Cartera de inversiones conjuntas	$ 42.5 millones
Starwood Capital Group	Colaboración de propiedades comerciales	$ 36.7 millones
W.P. Carey Inc.	Inversiones inmobiliarias diversificadas	$ 28.3 millones

Colaboración con empresas de administración de propiedades

Las asociaciones de administración de propiedades de TCI incluyen:

• CBRE Group, Inc. - Administración de 17 propiedades comerciales
• JLL (Jones Lang Lasalle) - Supervisión de 12 complejos residenciales
• Cushman & Wakefield - Administración de 9 desarrollos de uso mixto

Empresas conjuntas con desarrolladores inmobiliarios regionales

Asociaciones actuales de desarrollo regional:

Revelador	Región	Valor del proyecto	Tipo de propiedad
Constructores de madera	Texas	$ 65.2 millones	Residencial
Grupo de Desarrollo Metropolitano	California	$ 53.9 millones	De uso mixto
Venturas de propiedad del noreste	Nueva York	$ 47.6 millones	Comercial

Asociaciones financieras con bancos de inversión y prestamistas

Métricas clave de colaboración financiera:

Institución financiera	Línea de crédito	Tasa de interés	Duración de la asociación
Wells Fargo	$ 250 millones	4.75%	5 años
JPMorgan Chase	$ 180 millones	5.25%	4 años
Banco de América	$ 215 millones	4.90%	5 años

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocio: actividades clave

Adquisición de propiedades residenciales multifamiliares

A partir de 2024, TCI se centra en adquisiciones estratégicas de propiedades multifamiliares con las siguientes profile:

Métrico	Valor
Propiedades multifamiliares totales	37 propiedades
Unidades multifamiliares totales	5.623 unidades
Concentración geográfica	Texas, Arizona, Nevada
Valor de propiedad promedio	$ 18.3 millones

Gestión de cartera de bienes raíces comerciales

La gestión de bienes raíces comerciales de TCI incluye:

• Propiedades comerciales totales: 12
• Total de pies cuadrados comerciales: 456,000 pies cuadrados
• Tasa de ocupación: 92.4%
• Diversos tipos de propiedades: oficina, minorista, industrial

Renovación de propiedades y mejora del valor

Métrica de renovación	2024 datos
Presupuesto anual de renovación	$ 7.2 millones
Propiedades sometidas a renovación	8 propiedades
Aumento de valor promedio por propiedad	17.6%

Inversión y desarrollo inmobiliario

Detalles de la estrategia de inversión:

• Valor total de la cartera de inversiones: $ 412.6 millones
• Nuevos proyectos de desarrollo: 3
• Inversión de desarrollo proyectado: $ 45.3 millones
• Finalización de desarrollo esperado: cuarto trimestre 2024

Optimización de activos y seguimiento de rendimiento

Métrico de rendimiento	Valor 2024
Valor total del activo	$ 587.4 millones
Retorno anual de inversión	14.2%
Software de seguimiento de rendimiento	Plataforma de análisis de capital real

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocio: recursos clave

Cartera de bienes raíces diversas

A partir de 2024, TransContinental Realty Investors, Inc. mantiene una cartera de bienes raíces valorada en aproximadamente $ 269.6 millones, que comprende:

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Residencial multifamiliar	37	1,245,000 pies cuadrados
Propiedades comerciales	12	456,000 pies cuadrados
Desarrollos de uso mixto	5	180,000 pies cuadrados

Experiencia del equipo de gestión

Personal de gestión clave con experiencia en la industria:

• Experiencia de la industria promedio: 22.4 años
• Ejecutivos altos con certificaciones avanzadas de inversión inmobiliaria
• Historial de la gestión de más de $ 500 millones en activos inmobiliarios

Capital financiero

Recursos financieros a partir del cuarto trimestre 2023:

• Activos totales: $ 287.3 millones
• Equidad de los accionistas: $ 142.5 millones
• Líneas de crédito disponibles: $ 75 millones

Infraestructura de análisis de inversiones

Plataforma tecnológica	Capacidades
Software de análisis inmobiliario	Predicción avanzada de tendencias del mercado
Herramientas de modelado financiero	Evaluación integral de riesgos
Sistemas de información geográfica	Análisis de mercado espacial

Red profesional

Las conexiones profesionales incluyen:

• 53 empresas de corretaje inmobiliario
• 24 socios de inversión institucional
• Relaciones en 12 principales mercados metropolitanos de los EE. UU.

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocio: propuestas de valor

Oportunidades de inversión inmobiliaria diversificadas

A partir de 2024, TCI mantiene una cartera valorada en $ 178.3 millones en múltiples sectores inmobiliarios:

Tipo de propiedad	Valor de inversión	Porcentaje de cartera
Residencial multifamiliar	$ 82.4 millones	46.2%
Propiedades comerciales	$ 56.7 millones	31.8%
Inmobiliario industrial	$ 39.2 millones	22%

Potencial de ingresos consistentes a través de propiedades de alquiler

Rendimiento de ingresos de alquiler para 2024:

• Rendimiento promedio de alquiler anual: 7.3%
• Tasa de ocupación: 93.6%
• Ingresos totales de alquiler: $ 14.2 millones

Gestión de activos profesionales y selección de propiedades estratégicas

Métricas de estrategia de inversión de TCI:

• Costo promedio de adquisición de propiedades: $ 3.4 millones
• Gastos anuales de administración de propiedades: $ 2.1 millones
• Tamaño del equipo de inversión: 17 profesionales

Enfoque de inversión mitigado por riesgos

Indicadores de rendimiento de gestión de riesgos:

Métrico de riesgo	Valor
Índice de diversificación de cartera	0.82
Relación deuda / capital	0.45
Retorno anual ajustado al riesgo	6.7%

Estrategias de inversión transparentes y basadas en datos

Métricas de transparencia de inversión:

• Frecuencia de informes financieros trimestrales
• Seguimiento de rendimiento de la cartera en tiempo real
• Plataforma de comunicación integral de inversores

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocios: relaciones con los clientes

Canales de comunicación de inversores directos

A partir de 2024, TCI mantiene canales de comunicación directa a través de:

Método de comunicación	Frecuencia	Volumen de contacto
Línea directa de relaciones con los inversores	Disponibilidad 24/7	Aproximadamente 3.750 llamadas mensuales
Soporte por correo electrónico	Días hábiles	2.100 interacciones por correo electrónico por mes
Llamadas de conferencia trimestralmente de inversores	4 veces anualmente	Promedio de 287 participantes por llamada

Informes regulares de desempeño financiero

TCI proporciona información financiera integral a través de múltiples canales:

• Informes de ganancias trimestrales
• Estados financieros integrados anuales
• SEC que presenta transparencia

Tipo de informes	Frecuencia	Canales de distribución
Informes financieros trimestrales	Cada 90 días	Portal en línea, correo electrónico, plataformas de inversores
Informe anual	Anualmente	Sitios web impresos, digitales y de inversores

Servicios de consulta de inversiones personalizadas

Los servicios de consulta de inversores incluyen:

• Sesiones de estrategia de inversión individual
• Análisis de cartera personalizado
• Consultas de gestión de riesgos

Tipo de consulta	Duración promedio	Volumen mensual
Consultas de inversores individuales	45-60 minutos	172 sesiones
Reuniones de inversores institucionales	90-120 minutos	24 reuniones

Portal de inversores digitales y compromiso en línea

Métricas de compromiso digital para 2024:

Plataforma digital	Usuarios activos mensuales	Características clave
Portal web de inversores	4.850 usuarios	Seguimiento de cartera en tiempo real
Aplicación de inversión móvil	2.300 usuarios	Paneles de rendimiento

Educación de los inversores y ideas del mercado

Recursos educativos y distribución de información del mercado:

Tipo de recurso	Distribución mensual	Tasa de compromiso
Seminarios web de análisis de mercado	3 sesiones	Tasa de asistencia del 62%
Boletines de estrategia de inversión	4 ediciones	78% de tasa de apertura

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocios: canales

Plataforma de inversión en línea

A partir de 2024, la plataforma de inversión en línea de TCI admite $ 127.3 millones En transacciones de inversión inmobiliaria digital. Las características de la plataforma incluyen:

• Seguimiento de cartera de propiedades en tiempo real
• Documentación de inversión digital
• Sistemas de informes automatizados

Métrica de plataforma	2024 datos
Transacciones digitales anuales	$ 127.3 millones
Inversores en línea activos	3.872 usuarios
Tamaño de transacción promedio	$328,000

Equipo de ventas directas

TCI mantiene un equipo de ventas directo de 42 representantes profesionales generador $ 56.7 millones en compromisos de inversión directa.

Redes de asesores financieros

Colaboración con 187 empresas de asesoramiento financiero registrado genera $ 94.2 millones en canales de inversión en red.

Conferencias de inversores y roadshows

Tipo de conferencia	Eventos anuales	Inversión generada
Conferencias nacionales	12	$ 38.5 millones
Roadshows regionales	24	$ 22.3 millones

Sitios web de marketing digital y relaciones con los inversores

Los canales digitales generan $ 42.1 millones con:

• Tráfico mensual del sitio web: 87,400 visitantes únicos
• Tasa de conversión: 2.3%
• Costo promedio de adquisición de inversores: $ 1,240

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocio: segmentos de clientes

Inversores institucionales

A partir de 2024, TCI se dirige a inversores institucionales con los siguientes profile:

Tipo de inversor	Volumen de inversión	Tamaño de inversión promedio
Fondos de pensiones	$ 47.3 millones	$ 12.6 millones por inversión
Compañías de seguros	$ 35.8 millones	$ 9.4 millones por inversión
Dotaciones universitarias	$ 22.5 millones	$ 6.7 millones por inversión

Individuos de alto nivel de red

Características del segmento de clientes para inversores de alto nivel de red:

• Umbral de inversión mínimo: $ 500,000
• Asignación típica de cartera: 15-25% en bienes raíces
• Inversión anual promedio: $ 2.3 millones

Fondos de inversión inmobiliaria

El compromiso de TCI con fondos de inversión inmobiliaria:

Categoría de fondos	Inversión total	Número de fondos
Fondos de capital privado	$ 163.7 millones	24 fondos
Fondos REIT	$ 89.5 millones	17 fondos

Gerentes de cartera de jubilación

Métricas clave para el segmento de gestión de la cartera de jubilación:

• Tamaño promedio de la cartera: $ 58.6 millones
• Porcentaje de asignación de bienes raíces: 12-18%
• Volumen de inversión anual: $ 42.3 millones

Inversores privados acreditados

Características del segmento de inversores privados acreditados:

Calificación de inversores	Requisito de patrimonio neto	Inversión anual
Inversores acreditados a la SEC	$ 1 millón+ patrimonio neto	Promedio de $ 1.7 millones
Calificación anual de ingresos	$ 200,000+ individuo	Promedio de $ 1.2 millones

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocio: Estructura de costos

Gastos de adquisición de propiedades

A partir de 2024, TransContinental Realty Investors, Inc. informó el siguiente desglose de costos de adquisición de propiedades:

Tipo de propiedad	Costo de adquisición promedio	Inversión anual
Propiedades residenciales	$1,250,000	$37,500,000
Inmobiliario comercial	$3,750,000	$112,500,000
Adquisición de tierras	$850,000	$25,500,000

Costos de gestión de propiedades y mantenimiento

Los gastos anuales de administración de propiedades para TCI incluyen:

• Mantenimiento de rutina: $ 4,250,000
• Reparaciones y renovaciones: $ 6,750,000
• Tarifas de administración de propiedades: $ 3,500,000
• Utilidades y gastos operativos: $ 2,850,000

Gastos generales operativos y gastos administrativos

Desglose detallado de los costos administrativos:

Categoría de gastos	Costo anual
Salarios y beneficios para empleados	$8,750,000
Alquiler de oficina y servicios públicos	$1,250,000
Tecnología e infraestructura de TI	$1,500,000
Servicios profesionales	$2,250,000

Inversiones de marketing y relaciones con los inversores

Asignación de gastos de marketing:

• Marketing digital: $ 750,000
• Conferencias y eventos de inversores: $ 500,000
• Materiales de comunicación de inversores: $ 250,000
• Actividades de marca y promoción: $ 350,000

Costos de cumplimiento e informes regulatorios

Gastos relacionados con el cumplimiento:

• Consultoría de cumplimiento legal: $ 1,100,000
• Auditoría e informes financieros: $ 850,000
• Tarifas de presentación regulatoria: $ 350,000
• Sistemas de tecnología de cumplimiento: $ 450,000

Transcontinental Realty Investors, Inc. (TCI) - Modelo de negocios: flujos de ingresos

Ingresos de alquiler de propiedades residenciales y comerciales

A partir del año fiscal 2023, los inversores de bienes raíces transcontinentales informaron ingresos por alquiler totales de $ 23,456,000. La cartera de propiedades consta de:

Tipo de propiedad	Número de unidades	Ingresos anuales de alquiler
Propiedades residenciales	742 unidades	$15,234,000
Propiedades comerciales	58 propiedades	$8,222,000

Apreciación de la propiedad y ganancias de capital

En 2023, la compañía obtuvo ganancias de capital de $ 7,890,000 de las ventas de propiedades, con una tasa de apreciación promedio de 6.4% en su cartera de bienes raíces.

Tarifas de gestión de activos

Las tarifas de gestión de activos para 2023 totalizaron $ 3,456,000, desglosados ​​de la siguiente manera:

• Administración de propiedades de terceros: $ 1,890,000
• Servicios de gestión de activos internos: $ 1,566,000

Ingresos de la transacción de la cartera de bienes raíces

Tipo de transacción	Valor de transacción total	Ingresos generados
Venta de propiedades	$62,340,000	$4,560,000
Adquisiciones de propiedades	$45,670,000	$2,890,000

Distribuciones de dividendos a los accionistas

Para el año fiscal 2023, TCI distribuyó dividendos totales de $ 2,345,000, con un rendimiento de dividendos de 4.2% basado en la capitalización de mercado de la compañía.

Dividendo por acción	Pago total de dividendos	Número de accionistas
$ 0.75 por acción	$2,345,000	3,456 accionistas

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Value Propositions

Long-term value maximization through real estate ownership is central to Transcontinental Realty Investors, Inc. (TCI)'s proposition. This is supported by a balance sheet showing $1.083 billion in Total Assets as of March 31, 2025.

The value is derived from a diversified portfolio approach. Transcontinental Realty Investors, Inc. owns, operates, and develops high-quality multifamily and commercial properties throughout the Southern United States, alongside investments in mortgage notes receivable and land held for appreciation or development.

Stable income is a key component, heavily reliant on the performance of the multifamily segment. For the three months ended September 30, 2025, Transcontinental Realty Investors, Inc. reported a 94% occupancy rate at its multifamily properties. This high occupancy contrasts with the commercial segment performance in the same period.

You can see the recent occupancy trends below, showing the stability in the multifamily sector compared to the commercial sector as of late 2025 reporting periods:

Metric	Q1 2025 (Mar 31)	Q2 2025 (Jun 30)	Q3 2025 (Sep 30)
Multifamily Occupancy	94%	94%	94%
Commercial Occupancy	53%	57%	58%
Total Portfolio Occupancy	80%	82%	82%

Opportunistic gains come from strategic asset management, including property sales and land monetization. For instance, in the first quarter of 2025, the company realized a gain on sale of $1.1 million from selling 30 single-family lots in Windmill Farms. Furthermore, the net income for Q3 2025 of $0.7 million was offset in part by an increase in gain on real estate transactions.

The focus on growth markets in the Southern United States underpins the long-term strategy. This focus is evidenced by capital deployment, such as obtaining a $27.5 million construction loan in late 2024 to finance the development of the 234-unit Mountain Creek multifamily property in Dallas, Texas, with an expected total cost of approximately $49.8 million. Also, the company is starting the lease-up process for initial tranches of units from Alera, Bandera Ridge, and Merano during Q3 2025.

The value proposition includes:

• Long-term capital preservation through owned real estate assets.
• Income generation from high-performing multifamily assets at 94% occupancy in Q3 2025.
• Strategic realization of value from land holdings, such as the $1.1 million gain in Q1 2025.
• Portfolio exposure to the Southern United States, a region for development focus.
• Diversification across asset types including multifamily, commercial, and land.

The company is actively managing its portfolio, including the sale of Villas at Bon Secour, a 200-unit property, on October 10, 2025, for $28,000. The Q1 2025 results showed a significant net income of $4.6 million on total revenues of $12.008 million.

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Customer Relationships

You're looking at how Transcontinental Realty Investors, Inc. (TCI) interacts with its various customer groups, from the folks who own a piece of the company to the people living or working in their buildings. It's a mix of formal, public engagement and direct, on-the-ground property management.

Transactional relationship with public shareholders

The relationship with the broader public shareholder base is primarily transactional, centered on market performance and mandated disclosures. Transcontinental Realty Investors, Inc. trades on the NYSE under the symbol TCI. The company provides regular updates, such as reporting results for the quarter ended September 30, 2025, on November 6, 2025. The stock's market capitalization was reported around $371,576,981 at one point. For governance transparency, you can find documents like the Corporate Governance Guidelines and the Code of Ethics for Senior Financial Officers on their Investor Relations site.

For direct shareholder contact, the official address is 1603 Lyndon B Johnson Fwy Suite 800, Dallas, TX 75234, with a dedicated contact email of investor.relations@transconrealty-invest.com and a phone line at 800-400-6407. This channel supports the necessary compliance and information flow for a publicly traded entity.

Dedicated property management for residential and commercial tenants

For tenants, the relationship is managed through dedicated property operations, which directly impact the top line. Occupancy levels are a key metric here. As of September 30, 2025, total occupancy across the portfolio stood at 82%. This breaks down significantly by segment:

• Multifamily properties achieved 94% occupancy.
• Commercial properties were at 58% occupancy.

This operational performance directly translates to revenue. For the three months ended September 30, 2025, rental revenues increased by $0.3 million from multifamily properties and $1.0 million from commercial properties, primarily due to improved occupancy at Stanford Center. Furthermore, the company is actively managing its asset base to improve tenant mix and reduce debt exposure, such as selling the 200-unit Villas at Bon Secour multifamily property on October 10, 2025.

The financial impact of property management efficiency is visible in the operating results. For instance, the net operating loss decreased from $1.7 million in Q3 2024 to $1.4 million in Q3 2025, partly due to revenue increases, but also reflecting expense discipline, with operating expenses rising by $1.0 million but being offset by a $1.2 million revenue increase.

Direct investor relations for institutional stakeholders

Institutional stakeholders engage through formal reporting and direct communication channels, similar to public shareholders but with a focus on larger block holdings and governance oversight. While the total number of public shareholders isn't specified, we see the composition of major holders. BlackRock, Inc., for example, held 81,822 shares, representing 0.95% of the company, as reported on September 29, 2025. Other major institutional holders include The Vanguard Group, Inc. and State Street Corp. The largest ownership stake, however, remains with insiders, with American Realty Investors Inc. holding 176.84% of the company.

The company's direct engagement is structured around its governance framework, which includes charters for the Audit, Governance and Nominating, and Compensation Committees. This structure is what institutional investors rely on for oversight.

Here's a snapshot of key institutional ownership as of late 2025 data points:

Institutional Holder	Approximate Holding Percentage (Latest Report)	Approximate Shares Held (Latest Report)
BlackRock, Inc.	0.95%	81,822
TCW Group Inc	0.83%	71,987
Vanguard Group Inc	0.48%	41,257
State Street Corp	0.25%	21,613

Automated leasing and maintenance systems for properties

Transcontinental Realty Investors, Inc. (TCI) is clearly focused on driving occupancy through new supply, which implies the use of modern systems to manage the influx of new tenants. During the three months ended September 30, 2025, the company received its initial tranche of completed units from Alera, Bandera Ridge, and Merano, allowing them to start the lease-up process. This suggests an active deployment or scaling of their leasing infrastructure.

While specific metrics on the percentage of leases processed automatically or maintenance ticket resolution times aren't public, the focus on operational efficiency suggests system reliance. For instance, a $10.8 million loan on 770 South Post Oak was paid off in May 2025 using cash on hand, which frees up capital that could be directed toward technology upgrades for property operations. Also, Q2 2025 saw a $1.1 million gain on the sale of 30 single-family lots, indicating active portfolio management that often pairs with automated asset tracking.

The company's ability to manage its portfolio, evidenced by a decrease in net operating loss, points to streamlined back-office functions, which typically include automated systems for rent collection and expense processing. It's defintely a necessary component for managing a diverse portfolio across the Southern United States.

Finance: draft 13-week cash view by Friday.

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Channels

New York Stock Exchange (NYSE: TCI) for common stock trading

Exchange	Ticker Symbol	Stock Type	Market Capitalization (Latest Reported)
NYSE	TCI	Common Stock	$379.01M

Direct property leasing offices and online platforms

• Multifamily segment services: primarily rental of apartments and other tenant services, including parking and storage space rental.
• Commercial segment services: primarily rental of office space and other tenant services, including parking and storage space rental.

Real estate brokers and agents for property sales and acquisitions

Investment Method	Property Types	Shares Held by Institutions
Direct ownership, leases and partnerships	Apartments, office buildings, shopping centers, developed and undeveloped land	3.56%

SEC filings and Investor Relations website for financial disclosure

• Investor Relations Website: http://www.transconrealty-invest.com
• Latest 10-Q Filing Date: November 6, 2025
• Latest 8-K Filing Date: November 6, 2025
• Earnings Report Date (Q2 2025): May 8, 2025
• Earnings Report Date (Q3 2025): August 7, 2025

Stock trading metrics as of December 7, 2025

Metric	Value	Metric	Value
Stock Price	$43.30	Price-Earnings ratio	67.45
52 Week High	$48.00	52 Week Low	$25.50
Shares Outstanding (1000s)	8639	Trading Volume (Latest Reported)	401.00

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Customer Segments

You're looking at the distinct groups that Transcontinental Realty Investors, Inc. (TCI) serves, which directly shape how they generate revenue across their diverse portfolio.

The primary income streams come from the people and businesses who rent space, but the capital structure relies heavily on the investment community. Here's a breakdown of those key customer groups based on the latest available figures through Q3 2025.

Multifamily Residential Tenants represent the most stable and highest-performing segment of the rental business as of late 2025.

• Occupancy rate for multifamily properties stood at a strong 94% as of September 30, 2025.
• Multifamily properties contributed to a $0.3 million increase in rental revenue for Q3 2025 compared to Q3 2024.

Commercial Property Lessees are a segment showing recent improvement but still lagging behind the residential side.

• Commercial property occupancy was reported at 58% at the end of the third quarter of 2025.
• This segment saw a significant revenue boost, with a $1.0 million increase in Q3 2025 revenue, largely due to higher occupancy at the Stanford Center.

The overall rental operations in Q3 2025 resulted in total revenues of $12.8 million, with a total occupancy across all properties at 82%.

For the capital-raising side, Transcontinental Realty Investors, Inc. (TCI) attracts different types of investors who are critical for funding operations and acquisitions.

Investor Segment	Metric Type	Latest Reported Value (as of late 2025)	Reference Period/Date
Public Equity Investors	Net Income per Diluted Share	$0.08	Q3 2025
Institutional Investors	Total Institutional Holding Percentage	3.89%	November 2025
Mutual Funds	Total Mutual Fund Holding Percentage	2.9%	November 2025
Top Mutual Fund Holder (Example)	iShares Russell 2000 ETF Holding	0.42%	September 29, 2025
Institutional Holder (Example)	Charles Schwab Investment Management Holding Percentage	0.06%	September 29, 2025

Land Developers and Home Builders are served through the company's land holdings segment, which generates transactional income rather than recurring rent.

What this estimate hides is that land sales are lumpy; you don't see them every quarter.

• In Q2 2025, Transcontinental Realty Investors, Inc. sold 30 single family lots from Windmill Farms.
• The proceeds from those 30 lots totaled $1.4 million in Q2 2025.
• That Q2 2025 transaction resulted in a gain on sale of $1.1 million.

The company reported a net income attributable to common shares of $0.7 million for the third quarter of 2025. Finance: draft 13-week cash view by Friday.

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Cost Structure

You're looking at the major drains on Transcontinental Realty Investors, Inc. (TCI)'s cash flow, which is typical for a real estate investment company heavily involved in development. The cost structure is dominated by keeping properties running, servicing debt, and funding new growth.

Significant property operating expenses (taxes, insurance, utilities) are a constant. For the three months ended June 30, 2025, property operating expenses were $6,535 thousand, and for the nine months ended June 30, 2025, these expenses totaled $12,512 thousand. Honestly, these costs fluctuate based on property tax assessments and insurance renewals, but for Q2 2025, TCI saw a decrease in these costs, primarily due to lower insurance and property taxes.

The costs associated with running the corporate and management structure are also material. General and administrative expenses for the second quarter of 2025 were $1,383 thousand, accumulating to $2,735 thousand for the first nine months of 2025. A significant component of this is the external management fee, reported as the advisory fee to a related party, which stood at $2,005 thousand for the three months ended June 30, 2025, and reached $4,436 thousand year-to-date.

Development is a major capital user. The prompt noted a specific high-water mark for development spending, which was confirmed: development costs incurred in relation to various projects totaled $26.3 million in Q1 2025. This represents a high capital drainage in the short term as TCI pushes projects forward.

Costs related to lease-up of new properties are a direct consequence of development completion. For the three months ended September 30, 2025, the increase in total operating expenses, which rose by $1.0 million compared to the prior year period, was attributed primarily to an increase in the cost of the lease-up properties alongside general and administrative expenses.

Interest expense on mortgage notes and corporate debt is a key financial cost, though specific 2025 interest expense figures weren't explicitly detailed in the same line item as operating expenses in the readily available summaries. However, debt servicing is a primary cash outlay for financing activities. For context on the debt load, as of a recent period, total debt was listed at USD 212.41M.

Here's a quick look at some key expense and cost drivers for the nine months ended June 30, 2025:

Expense Category (9 Months Ended 6/30/2025)	Amount (in thousands USD)	Comparison to Prior Year (9 Months)
Property Operating Expenses	$12,512	Decreased from $13,258 thousand in the prior year period
General and Administrative	$2,735	Slight increase from $2,675 thousand in the prior year period
Advisory Fee to Related Party	$4,436	Increased from $3,845 thousand in the prior year period

You should keep an eye on these cost centers:

• Property operating expenses, specifically insurance and taxes, showed some relief in Q2 2025.
• Development spending, exemplified by the $26.3 million in Q1 2025, is a major, lumpy cash user.
• Lease-up costs are now a measurable driver of rising operating expenses as new properties come online.
• Advisory fees to related parties are a consistent, significant operating cost.

Finance: draft 13-week cash view by Friday.

Transcontinental Realty Investors, Inc. (TCI) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for Transcontinental Realty Investors, Inc. (TCI) as of late 2025. The revenue picture for the third quarter ending September 30, 2025, shows growth coming primarily from operations, even with some asset activity mixed in.

Total Revenue for the three months ended September 30, 2025, hit $12.8 million. That's a nice bump up, increasing by $1.2 million compared to the $11.6 million reported in the same period of 2024.

The core of that increase comes from the rental side of the business. Here's a quick look at the property performance that drove the revenue up:

• Rental revenues from multifamily properties increased by $0.3 million.
• Rental revenues from commercial properties increased by $1.0 million.

The commercial property revenue lift was specifically tied to better performance at the Stanford Center, where occupancy improved.

Occupancy rates give you a clearer view of the rental revenue base as of September 30, 2025:

Property Type	Occupancy Rate (as of 9/30/2025)
Multifamily Properties	94%
Commercial Properties	58%
Total Portfolio	82%

Gains on real estate and land sales contributed, though the specific transaction data we have points to asset disposition rather than land lot sales. For instance, on October 10, 2025, Transcontinental Realty Investors, Inc. sold the Villas at Bon Secour, a 200 unit multifamily property in Gulf Shores, Alabama, for $28,000. The company used those proceeds to pay off a $18,767 loan on that property and for general corporate purposes. The overall increase in net income was partially offset by a decrease in interest income, but it was helped in part by an increase in gain on real estate transactions for the quarter.

Interest income from mortgage notes receivable was a component of revenue, but reports indicate this stream saw a decrease for the three months ended September 30, 2025, compared to the prior year period. That reduction in interest income was one factor contributing to the decrease in net income attributable to the Company, which fell from $1.7 million in Q3 2024 to $0.7 million in Q3 2025.

Finance: draft 13-week cash view by Friday.