secwatch.observer — SEC 8-K summary
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Issuer:     TRANSCONTINENTAL REALTY INVESTORS INC (TCI)
CIK:        0000733590
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0000733590-22-000027
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Transcontinental Realty Q3 2022 net income $378.4M ($43.79/diluted) driven by $1.8B VAA property sale
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- Net income attributable to Company: $378.4M ($43.79 diluted) vs $26.2M ($3.04) in Q3 2021.
- Rental revenues decreased to $7.6M from $9.6M due to prior property sales; net operating loss improved to $2.8M.
- VAA joint venture sold 45 properties for $1.8B; TCI received initial $182.8M distribution and $738.7M gain.
- Sold Sugar Mill Phase III multifamily for $11.8M (gain $1.9M); proceeds used to pay off $9.6M mortgage.
- Stabilized occupancy 94% (multifamily 96%, commercial 68%); rent collection 99%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/733590/000073359022000027/0000733590-22-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/733590/000073359022000027/tci-20221110.htm
  HTML page:      https://secwatch.observer/filing/0000733590-22-000027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer