In conjunction with its proposed slate of acquisitions already in
progress in the Lone Star State, Taylor Consulting, Inc. (OTCBB: TAYO)
announced today that the company seeks to expand its asset acquisition
program to include more distressed, multi-unit properties in Texas.
The company will seek out commercial and residential buildings in the
state’s top growth markets, including hotels, retail and more, for
rehabilitation and resale or operation.
TAYO has already begun targeting promising real estate in West Texas,
where a boom in oil and gas activity has drawn a large influx of workers
and residents. The company is conducting due diligence on four
properties located on or near West Texas’ massive Cline Shale formation.
Covering an area of over one million acres, the Cline Shale could be the
largest North American oil play of all time, with some experts
predicting it could produce as many as 30 billion barrels of oil.
Now, the company will expand its search to include raw land and
businesses in the state’s Eastern half, where economic activity has
surpassed pre-recession levels in much of the region. Earlier this year,
the Urban Land Institute (ULI) ranked the city of Houston, where TAYO is
headquartered, as the No. 2 market to watch in its “Emerging Trends in
Real Estate 2014” report, behind only San Francisco. Dallas-Ft. Worth
was ranked 4th; Austin 7th.
TAYO hopes to announce the first of many land purchases very soon.
TAYO recently created a new division—Third Avenue Development, LLC—to
invest in promising real estate assets to compete alongside American
Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY),
Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS)
and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development,
LLC, is building an emerging portfolio of real estate assets for
rehabilitation and rent or resale. The company is focused on acquiring
properties in the country’s top-performing housing markets in order to
capitalize on the continued recovery and growth of the U.S. real estate
marketplace.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This news release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
including statements that include the words “believes,” “expects,”
“anticipate” or similar expressions. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the Company
to differ materially from those expressed or implied by such
forward-looking statements. In addition, description of anyone’s past
success, either financial or strategic, is no guarantee of success. This
news release speaks as of the date first set forth above and the Company
assumes no responsibility to update the information included herein for
events occurring after the date hereof.
Copyright Business Wire 2014