DALLAS, June 23, 2000 (PRIMEZONE) -- Transcontinental Realty Investors, Inc. (NYSE:TCI) Friday announced that it made secured loans to its affiliates, American Realty Trust, Inc. (NYSE:ARB) and Basic Capital Management, Inc., the proceeds of which were utilized to satisfy a portion of their margin obligations. A total of $6.1 million was funded, which allowed ART and BCM to pay off all of their respective margin debt relating to their Income Opportunity Realty Investors, Inc. (AMEX:IOT) shares and to pay down approximately $3 million in margin debt related to other securities owned by ART and BCM. The margin debt was paid on June 22, 2000.
Transcontinental Realty Investors, Inc., a Dallas-based real estate investment trust, invests in real estate through direct equity ownership and partnerships nationwide. The company also invests in mortgage loans, including first, wraparound and junior mortgages. For more information, visit the company's Web site at www.transconrealty-invest.com .