Transcontinental Realty Investors, Inc. (TCI): Business Model Canvas [Jan-2025 Mis à jour]

Transcontinental Realty Investors, Inc. (TCI) représente une puissance d'investissement immobilier dynamique qui navigue stratégiquement dans le paysage complexe des investissements immobiliers sur plusieurs marchés américains. En tirant parti d'une toile de modèle commercial sophistiqué, TCI transforme les approches traditionnelles d'investissement immobilier à travers des stratégies innovantes qui mélangent la gestion des actifs professionnels, la sélection de portefeuille diversifiée et les méthodologies d'investissement basées sur les données. Leur modèle unique offre aux investisseurs une voie convaincante pour générer des revenus cohérents, atténuer les risques et capitaliser sur des opportunités immobilières stratégiques dans les secteurs résidentiel et commercial.

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: partenariats clés

Alliance stratégique avec les fiducies de placement immobilier (FPI)

En 2024, TCI maintient des partenariats stratégiques avec les FPI suivants:

Partenaire de FPI	Type de partenariat	Valeur d'investissement
Vornado Realty Trust	Portefeuille d'investissement conjoint	42,5 millions de dollars
Starwood Capital Group	Collaboration de propriétés commerciales	36,7 millions de dollars
W.P. Carey Inc.	Investissements immobiliers diversifiés	28,3 millions de dollars

Collaboration avec les sociétés de gestion immobilière

Les partenariats de gestion immobilière de TCI comprennent:

• CBRE Group, Inc. - Gérer 17 propriétés commerciales
• JLL (Jones Lang Lasalle) - superviser 12 complexes résidentiels
• Cushman & Wakefield - Gérer 9 développements à usage mixte

Coentreprises avec des promoteurs immobiliers régionaux

Partenariats de développement régional actuels:

Promoteur	Région	Valeur du projet	Type de propriété
Constructeurs de bois	Texas	65,2 millions de dollars	Résidentiel
Groupe de développement métropolitain	Californie	53,9 millions de dollars	À usage mixte
Ventures de propriété nord-est	New York	47,6 millions de dollars	Commercial

Partenariats financiers avec les banques d'investissement et les prêteurs

Mesures clés de la collaboration financière:

Institution financière	Ligne de crédit	Taux d'intérêt	Durée du partenariat
Wells Fargo	250 millions de dollars	4.75%	5 ans
JPMorgan Chase	180 millions de dollars	5.25%	4 ans
Banque d'Amérique	215 millions de dollars	4.90%	5 ans

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: activités clés

Acquisition de propriétés résidentielles multifamiliales

En 2024, TCI se concentre sur les acquisitions stratégiques de propriétés multifamiliales avec les éléments suivants profile:

Métrique	Valeur
Propriétés multifamiliales totales	37 propriétés
Total des unités multifamiliales	5 623 unités
Concentration géographique	Texas, Arizona, Nevada
Valeur de propriété moyenne	18,3 millions de dollars

Gestion du portefeuille immobilier commercial

La gestion de l'immobilier commercial de TCI comprend:

• Propriétés commerciales totales: 12
• Total commercial en pieds carrés: 456 000 pieds carrés
• Taux d'occupation: 92,4%
• Divers types de propriétés: bureau, vente au détail

Rénovation des biens et amélioration de la valeur

Métrique de rénovation	2024 données
Budget de rénovation annuel	7,2 millions de dollars
Propriétés subissant une rénovation	8 propriétés
Augmentation moyenne de la valeur par propriété	17.6%

Investissement et développement immobiliers

Détails de la stratégie d'investissement:

• Valeur du portefeuille d'investissement total: 412,6 millions de dollars
• Nouveaux projets de développement: 3
• Investissement de développement projeté: 45,3 millions de dollars
• Achèvement du développement attendu: Q4 2024

Optimisation des actifs et suivi des performances

Métrique de performance	Valeur 2024
Valeur totale de l'actif	587,4 millions de dollars
Retour sur investissement annuel	14.2%
Logiciel de suivi des performances	Plateforme d'analyse de capital réelle

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: Ressources clés

Portefeuille immobilier diversifié

En 2024, Transcontinental Realty Investors, Inc. conserve un portefeuille immobilier d'une valeur d'environ 269,6 millions de dollars, comprenant:

Type de propriété	Nombre de propriétés	Total en pieds carrés
Résidentiel multifamilial	37	1 245 000 pieds carrés
Propriétés commerciales	12	456 000 pieds carrés
Développements à usage mixte	5	180 000 pieds carrés

Expertise en équipe de gestion

Personnel de gestion clé avec expérience de l'industrie:

• Expérience moyenne de l'industrie: 22,4 ans
• Cadres supérieurs avec des certifications d'investissement immobilier avancées
• Bouc-forme de la gestion de plus de 500 millions de dollars en actifs immobiliers

Capital financier

Ressources financières au quatrième trimestre 2023:

• Actif total: 287,3 millions de dollars
• Présentation des actionnaires: 142,5 millions de dollars
• Lignes de crédit disponibles: 75 millions de dollars

Infrastructure d'analyse des investissements

Plate-forme technologique	Capacités
Logiciel d'analyse immobilière	Prédiction avancée des tendances du marché
Outils de modélisation financière	Évaluation complète des risques
Systèmes d'information géographique	Analyse du marché spatial

Réseau professionnel

Les connexions professionnelles comprennent:

• 53 sociétés de courtage immobilier
• 24 partenaires d'investissement institutionnels
• Relations sur 12 principaux marchés métropolitains américains

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: propositions de valeur

Opportunités d'investissement immobilier diversifiées

En 2024, TCI maintient un portefeuille d'une valeur de 178,3 millions de dollars dans plusieurs secteurs immobiliers:

Type de propriété	Valeur d'investissement	Pourcentage de portefeuille
Résidentiel multifamilial	82,4 millions de dollars	46.2%
Propriétés commerciales	56,7 millions de dollars	31.8%
Immobilier industriel	39,2 millions de dollars	22%

Potentiel de revenu cohérent grâce à des propriétés locatives

Performance sur les revenus locatifs pour 2024:

• Rendement de location annuel moyen: 7,3%
• Taux d'occupation: 93,6%
• Revenus locatifs totaux: 14,2 millions de dollars

Gestion professionnelle des actifs et sélection de propriétés stratégiques

Mesures de stratégie d'investissement de TCI:

• Coût moyen d'acquisition de propriétés: 3,4 millions de dollars
• Dépenses annuelles de gestion immobilière: 2,1 millions de dollars
• Taille de l'équipe d'investissement: 17 professionnels

Approche d'investissement atténuée au risque

Indicateurs de performance de gestion des risques:

Métrique à risque	Valeur
Indice de diversification du portefeuille	0.82
Ratio dette / fonds propres	0.45
Rendement annuel ajusté au risque	6.7%

Stratégies d'investissement transparentes et basées sur les données

Mesures de transparence des investissements:

• Fréquence de rapports financiers trimestriels
• Suivi des performances de portefeuille en temps réel
• Plateforme de communication des investisseurs complets

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: relations avec les clients

Canaux de communication des investisseurs directs

En 2024, TCI maintient les canaux de communication directs à travers:

Méthode de communication	Fréquence	Volume de contact
Hotline des relations avec les investisseurs	Disponibilité 24/7	Environ 3 750 appels mensuels
Assistance par e-mail	Jours ouvrables	2 100 interactions par e-mail par mois
Conférence téléphonique des investisseurs trimestriels	4 fois par an	Moyenne 287 participants par appel

Rapports de performance financière réguliers

TCI fournit des rapports financiers complets via plusieurs canaux:

• Rapports de bénéfices trimestriels
• États financiers intégrés annuels
• Transparence du dépôt de la SEC

Type de rapport	Fréquence	Canaux de distribution
Rapports financiers trimestriels	Tous les 90 jours	Portail en ligne, e-mail, plateformes d'investisseurs
Rapport annuel	Annuellement	Sites Web imprimés, numériques, investisseurs

Services de consultation d'investissement personnalisés

Les services de consultation des investisseurs comprennent:

• Sessions de stratégie d'investissement en tête-à-tête
• Analyse de portefeuille personnalisée
• Consultations de gestion des risques

Type de consultation	Durée moyenne	Volume mensuel
Consultations des investisseurs individuels	45-60 minutes	172 séances
Réunions d'investisseurs institutionnels	90-120 minutes	24 réunions

Portail des investisseurs numériques et engagement en ligne

Métriques d'engagement numérique pour 2024:

Plate-forme numérique	Utilisateurs actifs mensuels	Caractéristiques clés
Portail Web des investisseurs	4 850 utilisateurs	Suivi du portefeuille en temps réel
Application d'investissement mobile	2 300 utilisateurs	Tableaux de bord de performance

Éducation des investisseurs et informations sur le marché

Distribution des ressources éducatives et des informations sur le marché:

Type de ressource	Distribution mensuelle	Taux d'engagement
Webinaires d'analyse de marché	3 séances	Taux de fréquentation de 62%
Newsletters de la stratégie d'investissement	4 éditions	Taux d'ouverture de 78%

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: canaux

Plateforme d'investissement en ligne

Depuis 2024, la plate-forme d'investissement en ligne de TCI prend en charge 127,3 millions de dollars Dans les transactions d'investissement immobilier numériques. Les fonctionnalités de la plate-forme comprennent:

• Suivi du portefeuille de propriétés en temps réel
• Documentation d'investissement numérique
• Systèmes de rapports automatisés

Métrique de la plate-forme	2024 données
Transactions numériques annuelles	127,3 millions de dollars
Investisseurs en ligne actifs	3 872 utilisateurs
Taille moyenne des transactions	$328,000

Équipe de vente directe

TCI maintient une équipe de vente directe de 42 représentants professionnels générateur 56,7 millions de dollars Dans les engagements d'investissement directs.

Réseaux de conseillers financiers

Collaboration avec 187 cabinets de conseil financier enregistrés génère 94,2 millions de dollars dans les canaux d'investissement en réseau.

Conférences des investisseurs et tas de routes

Type de conférence	Événements annuels	Investissement généré
Conférences nationales	12	38,5 millions de dollars
Bouc-bassins régionaux	24	22,3 millions de dollars

Sites Web de marketing numérique et de relations avec les investisseurs

Les canaux numériques génèrent 42,1 millions de dollars avec:

• Trafic mensuel du site Web: 87 400 visiteurs uniques
• Taux de conversion: 2,3%
• Coût moyen d'acquisition des investisseurs: 1 240 $

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

En 2024, TCI cible les investisseurs institutionnels avec les éléments suivants profile:

Type d'investisseur	Volume d'investissement	Taille moyenne de l'investissement
Fonds de pension	47,3 millions de dollars	12,6 millions de dollars par investissement
Compagnies d'assurance	35,8 millions de dollars	9,4 millions de dollars par investissement
Dotations universitaires	22,5 millions de dollars	6,7 millions de dollars par investissement

Individus à haute nette

Caractéristiques du segment de la clientèle pour les investisseurs à haute nette:

• Seuil d'investissement minimum: 500 000 $
• Attribution typique du portefeuille: 15-25% dans l'immobilier
• Investissement annuel moyen: 2,3 millions de dollars

Fonds d'investissement immobilier

L'engagement de TCI avec les fonds d'investissement immobilier:

Catégorie de fonds	Investissement total	Nombre de fonds
Fonds de capital-investissement	163,7 millions de dollars	24 fonds
Fonds de REIT	89,5 millions de dollars	17 fonds

Gestionnaires du portefeuille de retraite

Métriques clés pour le segment de gestion du portefeuille de retraite:

• Taille moyenne du portefeuille: 58,6 millions de dollars
• Pourcentage d'allocation immobilière: 12-18%
• Volume d'investissement annuel: 42,3 millions de dollars

Investisseurs privés accrédités

Caractéristiques du segment accrédité des investisseurs privés:

Qualification des investisseurs	Exigence de valeur nette	Investissement annuel
Investisseurs accrédités de la SEC	1 million de dollars + valeur nette	Moyenne de 1,7 million de dollars
Qualification annuelle sur le revenu	200 000 $ + individu	Moyenne de 1,2 million de dollars

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition de biens

En 2024, Transcontinental Realty Investors, Inc. a déclaré la ventilation des coûts d'acquisition de propriétés suivantes:

Type de propriété	Coût moyen d'acquisition	Investissement annuel
Propriétés résidentielles	$1,250,000	$37,500,000
Immobilier commercial	$3,750,000	$112,500,000
Acquisition de terres	$850,000	$25,500,000

Coûts de gestion et de maintenance immobilières

Les dépenses annuelles de gestion immobilière pour TCI comprennent:

• Entretien de routine: 4 250 000 $
• Réparations et rénovations: 6 750 000 $
• Frais de gestion immobilière: 3 500 000 $
• Services publics et dépenses opérationnelles: 2 850 000 $

Frais généraux et dépenses administratives opérationnelles

Répartition détaillée des coûts administratifs:

Catégorie de dépenses	Coût annuel
Salaires et avantages sociaux	$8,750,000
Loyer de bureau et services publics	$1,250,000
Technologie et infrastructure informatique	$1,500,000
Services professionnels	$2,250,000

Investissements de marketing et de relations avec les investisseurs

Attribution des dépenses de marketing:

• Marketing numérique: 750 000 $
• Conférences et événements des investisseurs: 500 000 $
• Matériel de communication des investisseurs: 250 000 $
• Brandage et activités promotionnelles: 350 000 $

Coût de la conformité et des rapports réglementaires

Dépenses liées à la conformité:

• Conseil de conformité juridique: 1 100 000 $
• Audit et rapport financier: 850 000 $
• Frais de dépôt réglementaire: 350 000 $
• Systèmes technologiques de conformité: 450 000 $

Transcontinental Realty Investors, Inc. (TCI) - Modèle d'entreprise: Strots de revenus

Revenus locatifs des propriétés résidentielles et commerciales

Depuis l'exercice 2023, Transcontinental Realty Investors a déclaré des revenus de location totaux de 23 456 000 $. Le portefeuille de propriétés se compose:

Type de propriété	Nombre d'unités	Revenus de location annuels
Propriétés résidentielles	742 unités	$15,234,000
Propriétés commerciales	58 propriétés	$8,222,000

Appréciation des biens et gains en capital

En 2023, la société a réalisé des gains en capital de 7 890 000 $ à partir des ventes de biens, avec un taux d'appréciation moyen de 6,4% dans son portefeuille immobilier.

Frais de gestion des actifs

Les frais de gestion des actifs pour 2023 ont totalisé 3 456 000 $, ventilés comme suit:

• Gestion des propriétés tierces: 1 890 000 $
• Services de gestion des actifs internes: 1 566 000 $

Revenus de transaction du portefeuille immobilier

Type de transaction	Valeur totale de transaction	Revenus générés
Ventes immobilières	$62,340,000	$4,560,000
Acquisitions de biens	$45,670,000	$2,890,000

Distributions de dividendes aux actionnaires

Pour l'exercice 2023, TCI a distribué des dividendes totaux de 2 345 000 $, avec un rendement de dividende de 4,2% basé sur la capitalisation boursière de la société.

Dividende par action	Paiement total des dividendes	Nombre d'actionnaires
0,75 $ par action	$2,345,000	3 456 actionnaires

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.