Transcontinental Realty Investors, Inc. Announces Executive Changes
August 18, 2020 at 05:13 pm EDT
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Transcontinental Realty Investors, Inc. announced that Effective August 14, 2020, Daniel J. Moos President of Transcontinental Realty Investors, Inc. ceased to be and resigned as President as well as all positions with any United States subsidiary entities. Mr. Moos noted that his resignation is not the result of any disagreement with the Company, its management, the Board of Directors or any committee of the Board with respect to procedures, policies or operations of the Issuer. Effective as of August 17, 2020, the Board of Directors of the Company appointed Erik L. Johnson as Executive Vice President of the Company. Mr. Johnson most recently was Vice President of Financial Reporting of The Macerich Company in Santa Monica, California, a position he held for more than the past five years, from 2005 through June 2020.
Transcontinental Realty Investors, Inc. is a fully integrated, externally managed real estate company. The Company operates through two segments: the acquisition, development, ownership and management of multifamily properties, and the acquisition, development, ownership and management of commercial properties, which are primarily office properties. The services for its commercial segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for its multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. It holds a diverse portfolio of equity real estate located across the United States, including office buildings, apartments, shopping centers, and developed and undeveloped land. It invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. It also holds mortgage receivables.