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Victory Abode The joint venture currently holds 10,133 units across 11 states.

DALLAS—Southern Properties Capital, a subsidiary of Dallas-based real estate investment company Transcontinental Realty Investors Inc., has formed a joint venture agreement with a wholly owned subsidiary of Macquarie Group Limited. The joint venture, Victory Abode Apartments d/b/a Abode Properties Services, was formed with TCI and Southern Properties Capital contributing the portfolio of more than 50 multifamily assets together with a substantial equity investment by Macquarie.

The joint venture’s primary focus is to create a business platform that will allow dramatic expansion in the multifamily arena. The intent is to increase the overall size of the portfolio during the next several years through a strategic buildout of its development pipeline alongside opportunistic acquisitions. The company remains highly focused in its core Southeast and Southwest US geographic areas. The joint venture currently holds 10,133 units across 11 states with three assets currently under construction.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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