DALLAS, Oct. 2, 2001 (PRIMEZONE) -- American Realty Investors, Inc. (NYSE:ARL), Transcontinental Realty Investors, Inc. (NYSE:TCI) and Income Opportunity Realty Investors, Inc. (AMEX:IOT) announced Tuesday that the affiliated companies have named Brent Horak, 28, as chief financial officer and vice president. In addition, Horak is CFO of Basic Capital Management, Inc., the private real-estate investment firm that serves as advisor to ARI, TRI and IORI.
Horak fills the CFO position vacated by Louis J. Corna. Corna remains as head of the corporate tax department and serves as executive vice president of Basic Capital Management.
Prior to becoming CFO, Horak was a manager for BDO Seidman, LLP, and the auditor for American Realty Investors, Transcontinental Realty Investors and Income Opportunity Realty Investors. In that position, he was responsible for the planning, managing, and performance of audits since 1996. Horak holds membership in the American Institute of Certified Public Accountants, the Texas Society of CPAs and the Dallas Chapter of CPAs. He earned a bachelor of business administration from Texas Tech University in 1995.
American Realty Investors and Transcontinental Realty Investors are Dallas-based real estate investment companies that primarily invest in equity interest in real estate through direct ownership and partnerships. Income Opportunity Realty Investors is a Dallas-based real estate investment trust. More information is available at the companies' Website at www.bcm-inc.com.