Abode Properties Services Celebrates the Grand Opening of Abode Red Rock Apartments in Las Vegas, Nevada

DALLAS–(BUSINESS WIRE)–Feb 19, 2019–Abode Properties Services recently celebrated the grand opening of Abode at Red Rock apartments in Las Vegas, Nevada.

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The Abode Red Rock Apartments – Abode Properties’ recently completed development in Las Vegas, Nevada celebrates its Grand Opening. (Photo: Business Wire)

Over 450 people attended the three hour event complete with a red carpet entry, step and repeat photo backdrop, full service catering, a DJ and photographer. Attendees began arriving 45 minutes before for the event to claim one of the 50 exclusive swag bags. All swag bags were claimed within the first 5 minutes of the event. Six area restaurants also brought tables and set up food to help promote their businesses. The grand opening event ended with a giveaway of 12 months free rent.

A representative from the office of U.S. Senator Jacky Rosen attended the event and presented a certificate congratulating the ribbon cutting. The guest speaker was Councilman Stavros S. Anthony, along with Art Goldberg from the Las Vegas Chamber of Commerce.

“The grand opening was a huge success,” commented President and CEO Daniel J. Moos. “Abode Red Rock is a beautiful new development located within Las Vegas’s hottest residential submarket called the Southwest. ”

Abode Red Rock apartments is a 308 unit, Class A, mid-rise residential superstructure composed of 1 and 2 bedroom apartment units available in two design finishes. Units feature gourmet kitchens with high quality stainless steel appliances, islands, tile backsplash, quartz counters, and modern cabinetry with the self-closing hinges. Also included in each unit is designer lighting, stand-alone showers, oversized garden tubs, wood plank flooring, high ceilings, stackable GE washer and dryer, large picture windows and deep walk-in closets.

The building’s stylish design provides multi-color roof tiles, a façade of warm Mediterranean colors, real and simulated stone, and exterior gas lanterns. Property amenities include an internal parking structure, private courtyards, pedestrian zones with cobblestone sidewalks, a rooftop lounge with fire pits, a 24-hour state-of-the-art fitness facility, resort-inspired pool surrounded by lush landscaping, separate wading pool with beach front access and common areas equipped with Wi-Fi. In addition, the property boasts outdoor terraces with BBQ grills, a fenced pet park, and modern clubhouse with full a service kitchen and media lounge.

Located in the highly desirable Spring Valley area, Abode Red Rock is within walking distance of Tropicana Beltway Center, a popular shopping and retail area with grocery stores, shopping and restaurants. The community is surrounded by amazing views, from the mountains of Red Rock Canyon National Park to the nighttime city lights of the Las Vegas Strip.

About Abode Properties Services

Abode Properties Services/Victory Abode Apartments is a joint venture subsidiary of Transcontinental Realty Investors (TCI) and Southern Properties Capital (SPC) both Dallas-based real estate investment companies and Australian financial institution Macquarie Group Limited(ASX: MQG).

Victory Abode Apartments d/b/a Abode Properties Services’ investment and strategic focus is to acquire, develop, and operate a portfolio of desirable multifamily residential properties, while capitalizing on our ability to obtain long term and static debt structures. The portfolio stands to benefit from historically established, proven, and successful operational practices, seasoned on-site management, and an experienced leadership team with forward thinking capabilities in order to realize maximum cash flows and consistent returns, while maintaining unequaled resident and customer service. We are disciplined and prudent allocators of capital and we will continue growing our geographically diverse portfolio from the Southwest to the Southeast. These markets are geographically located in areas of the country that correspond with both sustainable and viable economic growth activity.

About Transcontinental Realty Investors

Transcontinental Realty Investors maintains a strong emphasis on creating greater shareholder value through acquisition, financing, operation, development, and sale of real estate across every geographic region in the United States. A New York Stock Exchange company, Transcontinental is traded under the symbol "TCI". Transcontinental produces revenue through the ownership and professional management of income producing apartments and office buildings that are "undervalued" or "underperforming" at the time of acquisition. Value is added under Transcontinental ownership, and the properties are repositioned into higher classifications through physical improvements and improved management. Transcontinental has dramatically expanded its development capabilities associated with luxury apartment homes through its wholly owned subsidiary Abode Properties, principally on land it owns or acquires.

About Southern Properties Capital

Southern Properties Capital (SPC) operates in Southeast and Southwest USA. The Company’s core assets are tied to owning and operating Class A multi-family apartments and two very prominent and viable Multi Use development properties in Greater Dallas. The Company’s business strategy is to continue to expand its Class A multifamily portfolio through new development and financially attractive acquisitions. To this end, SPC is joint owner of Abode Properties with its parent Company TCI and Macquarie.

The Abode Red Rock Apartments – Abode Properties’ recently completed development in Las Vegas, Nevada celebrates its Grand Opening.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190219005263/en/

CONTACT: Chris Childress

On behalf ofAbode Properties Services

469.522.4275 /press@pillarincome.com

KEYWORD: UNITED STATES NORTH AMERICA NEVADA TEXAS

INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Abode Properties

Copyright Business Wire 2019.

PUB: 02/19/2019 08:00 AM/DISC: 02/19/2019 08:01 AM

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