Transcontinental Realty Investors (NYSE: TCI) is a real estate investment company that owns and develops a portfolio of income-producing properties and land held for development throughout the Southern United States. Revenue comes from rents collected on multifamily residential properties, office buildings, and other commercial properties, supplemented by gains on property sales and land transactions. TCI is externally advised and managed by Pillar Income Asset Management, Inc. under an Advisory Agreement and Cash Management Agreement in place since April 30, 2011. As of December 31, 2025, the company was actively developing four multifamily projects totaling 906 units across Florida and Texas, with total projected development costs of $206.8 million. Net income attributable to the company was $13.8 million for the year ended December 31, 2025, compared to $5.9 million for FY2024. CEO Erik L. Johnson and Chief Accounting Officer Alla Dzyuba signed the FY2025 10-K filed March 12, 2026.

Revenue model

Rental income from multifamily residential and commercial properties; gains on property and land sales; development of new multifamily properties funded partly by construction loans.

Products and services

Multifamily residential apartments (Alera, 240 units, Lake Wales FL; Bandera Ridge, 216 units, Temple TX; Merano, 216 units, McKinney TX; Mountain Creek, 234 units, Dallas TX); office buildings and other commercial properties; land held for development including Windmill Farms parcels (125 acres, approximately 470 single-family lots).

Customers and end markets

Residential renters in multifamily apartment communities; commercial tenants in office and other commercial properties; single-family homebuilders as land lot buyers (Windmill Farms development agreements, FY2025).

Value-chain role

Property owner, developer, and landlord. Operations fully outsourced to external advisor Pillar Income Asset Management, which handles investment sourcing, debt and equity financing, and day-to-day management under an Advisory and Cash Management Agreement.

Geographic exposure

Southern United States. Active development projects in Lake Wales FL, Temple TX, McKinney TX, and Dallas TX as of December 31, 2025. Windmill Farms land holdings also referenced in the FY2025 10-K.

Source: SEC 10-K, filed 2026-03-12

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