SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
November 14, 2000
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Date of Report (Date of Earliest Event Reported)
TRANSCONTINENTAL REALTY INVESTORS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 0-13291 94-6565852
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(State of Incorporation) (Commission (IRS Employer
File No.) Identification No.)
1800 Valley View Lane, Suite 300 Dallas, TX 75234
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (469) 522-4200
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
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On November 14, 2000, Transcontinental Realty Investors, Inc. ("TCI") purchased
the Brandeis Building ("Brandeis"), a 319,234 sq.ft. office building in Omaha,
Nebraska, for $12.5 million, approximately 1.8% of TCI's assets at December 31,
1999. The sellers of the property were Brandeis Building Investors, L.L.C.
In addition to the Brandeis purchase discussed above, TCI has purchased five
apartments, two in Lawrence, Kansas, in the first quarter and one in Midland,
Texas, one in Amarillo, Texas and one in Bakersfield, California. TCI also
purchased two office buildings in the second quarter, one in Los Angeles,
California, one in Tampa, Florida and an office/retail complex in Sterling,
Virginia. TCI also purchased four parcels of land in the first quarter, two in
Collin County, Texas, one in Austin, Texas and one in Farmers Branch, Texas, one
in the second quarter in Austin, Texas and one in the fourth quarter in Dallas,
Texas. These properties were purchased for a total of $90.0 million and
represent approximately 12.4% of TCI's assets at December 31, 1999. TCI paid a
total of $25.4 million in cash and financed the remainder of the purchase
prices. The mortgages secured by the properties bear interest at variable rates
ranging from 7.44% to 14.0% per annum and mature in December 2000 to August
2009.
In 2000, TCI has also sold five apartments, two in the first quarter, two in the
second quarter and one in the fourth quarter and an hotel in the second quarter.
In connection with these sales, TCI received net cash totaling $10.9 million.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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The sellers have informed TCI that audited financial statements and supporting
data relating to their respective property's operations are not available. It
is, therefore, impracticable to provide the required audited statement of
operations for the properties acquired or pro forma financial information. The
required information will be filed by amendment of this Form 8-K as soon as
practicable, but not later than January 14, 2001.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
TRANSCONTINENTAL REALTY
INVESTORS, INC.
Date: November 29, 2000 By: /s/ Mark W. Branigan
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Mark W. Branigan
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
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