Two prime acquisitions by Taylor Consulting Inc. (OTCBB:TAYO), due
diligence on another and a strategic purchase agreement to acquire a
West Texas real estate broker in one of the hottest areas in the country
come just ahead of near-record construction numbers in Abilene, Texas.
Part of a multi-county region engulfed in the Cline Shale oil boom in
West Texas’ Permian Basin, Abilene and its surrounding metro area are
enjoying economic growth that has shown no signs of slowing down. The Abilene
Reporter-News reported last week that the
Abilene Economic Index posted another increase in August, rising to
121.7 from 121.3 the month before. Impressive construction numbers are
pushing the index upward, with $133.3 million in permits issued this
year to date. That total is up nearly 53 percent relative to the first
eight months of last year. Average home sales have increased by 2.6
percent over the same period last year, as well.
“It’s the Cline Shale effect – West Texas communities are benefitting
from an influx of workers handling the oil and natural gas production,
which naturally brings with it residential and commercial real estate
development. Our focus on Abilene is not incidental, but calculated,”
said TAYO CEO Scott Wheeler. “So impressive construction and home sales
numbers coming on the heels of our most recent activity in the area spur
us to continue our strategy there, which is to continue to expand our
real estate portfolio through the fourth quarter and beyond.”
Through its real estate division, Third Avenue Development, TAYO has
already acquired two prime properties in the town of Merkel, which is
part of the greater Abilene region. The company announced this week that
it has completed its due diligence toward the acquisition of another
property in the area: a 10-acre lot in the neighboring town of Tye.
The area’s healthy
economic growth, spurred by the West Texas oil and gas boom, has
made it a hot spot for real estate development. Earlier this month,
Third Avenue Development signed a purchase agreement to acquire White
Buffalo Property Solutions LLC, a licensed West Texas real estate
broker, to help facilitate more potentially lucrative deals in the
region.
Cline Shale
Texas is home to the Eagle Ford Shale in South Texas and Cline Shale in
West Texas’ Permian Basin – two of the world’s largest unconventional
resource plays expected to produce for decades. Cline
Shale is an intensive oil and natural gas exploration
and production region in the eastern shelf of the Permian Basin in West
Texas – a multi-county region between Midland-Odessa, San Angelo and
Abilene – estimated to bring 15 years of drilling activity and at least
30 years of oil production. The Permian Basin of West Texas and eastern
New Mexico, which contains more than 5 billion barrels of proven oil
reserves and estimates of 30 billion barrels of recoverable oil,
outranks Alaska and the Gulf of Mexico as the top oil opportunity region
in North America. The American Oil & Gas Reporter says
commercial and residential real
estate development is a key factor in successfully keeping up with
the economic growth that comes with the boom in those areas.
Big Plans for ‘Big Country’
White Buffalo Property Solutions serves all 19 counties in “The Big
Country” area of Texas in the west central part of the state from its
centrally located homebase of Abilene, the largest city near the Cline
Shale region. “An advantageous location near Cline Shale and the
hometown roots of White Buffalo principal Kyle Tamez, who has extensive
knowledge of Abilene and the surrounding area, are sure to be valuable
assets in meeting the intense demand for residential and commercial real
estate in the region. We are excited about the opportunities that await
us in The Big Country.”
For more information, visit www.whitebuffalopropertysolutions.com.
About Taylor Consulting Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue
Development, LLC as a new division whose primary goal is 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 others. Third
Avenue Development, a premier hybrid real estate investment and
development company, is building an emerging portfolio of real estate
assets for investment, rehabilitation and 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. For more information, visit www.ThirdAvenueDevelopment.com.
Notice Regarding Forward-Looking Statements
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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,”
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