Brixton Capital, LP and The Shidler Group, Inc. made an offer to acquire Transcontinental Realty Investors, Inc. (NYSE:TCI) from American Realty Investors, Inc. (NYSE:ARL), Realty Advisors, Inc. and others for $380 million on September 21, 2021. Brixton Capital and The Shidler Group seek to acquire 100% of the outstanding capital stock of Transcontinental Realty Investors for $44.40 per share in cash. The proposed transaction would be subject to the execution of mutually acceptable, negotiated, definitive transaction agreements containing representations, covenants, conditions and other terms. Brixton Capital, LP and The Shidler Group engaged UBS Investment Bank as its financial advisors and Morris, Manning & Martin, LLP as its legal advisor.