|Transcontinental Realty Investors, Inc. (TCI) is an externally advised and managed real estate investment company that owns a diverse portfolio of income-producing properties and land held for development. The Company's portfolio of income-producing properties includes residential apartment communities, office buildings and other commercial properties. The Company acquires land primarily in in-fill locations or high-growth suburban markets. As of December 31, 2011, it owned 9,317 units in 50 residential apartment communities, 16 commercial properties comprising five million rentable square feet. In addition, it owns over 4,720 acres of land held for development. As of December 31, 2011, the Company owns income-producing properties and land in 13 states as well as in the U.S. Virgin Islands. The Company's segments include commercial, apartments, hotels, land and other. As of December 31, 2011, American Realty Investors, Inc. (ARL) through subsidiaries owned 82.69% interest in TCI.