DALLAS, Oct. 3, 2001 (PRIMEZONE) -- Transcontinental Realty Investors, Inc. (NYSE:TCI) (TCI) announced Wednesday that it recently purchased a total of 593,200 shares of common stock for a total of $9.49 million in two separate, private, block transactions.
Representing some 6.87 percent of TCI's outstanding common shares, the repurchased stock was acquired through direct purchases from two individual stockholders in separate transactions completed last week. The company then retired the shares, reducing the common stock outstanding to approximately 8,042,749 shares.
Transcontinental Realty Investors, Inc., a Dallas-based real estate investment company, invests in real estate through direct equity ownership and partnerships nationwide. TCI also invests in mortgage loans, including first, wraparound and junior mortgages. For more information, visit the company's Website at www.transconrealty-invest.com.