TCI JV with Macquarie to sell most assets; broker selection by end-2021, sale starts early 2022

TRANSCONTINENTAL REALTY INVESTORS INC

SPC and Macquarie (Class A Rights Holders) agreed to jointly sell JV portfolio; broker selection by end-2021.
Seven assets excluded from sale will be acquired by SPC subject to sale completion; one property contributed by SPC included.
Major Decision Letter terminates Aug 1, 2022; parties will not exercise separate sale mechanism before expiry.
Sale process expected to begin early 2022; forward-looking information subject to risks including COVID.

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