Transcontinental Realty subsidiary signs $2.04B sale of 52 multifamily properties; expects $420M net cash flow

TRANSCONTINENTAL REALTY INVESTORS INC

SPC (TCI subsidiary) and Macquarie JV VAA agree to sell 52 multifamily properties plus one direct property for ~$2.04B.
Up to 45 properties sold to two private equity funds; remaining 7 (Holdback) sold to SPC itself.
Expected net cash flow to SPC of ~$420M; TCI expects ~$100M dividend from SPC for tax liability.
Closing expected within 75 days, subject to inspection and due diligence; $50M non-refundable deposit placed.
SPC expects to remain compliant with debenture covenants and use proceeds for new investments and portfolio expansion.

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