American Realty Investors is an externally managed real estate company that develops and operates multifamily and commercial office properties in secondary markets throughout the Southern United States, seeking to maximize long-term stockholder value through acquisition, development, and long-term ownership of income-producing assets. The company generates revenue primarily through rental income from its portfolio of apartment buildings and office properties, along with opportunistic investments in mortgage notes receivable and land held for future development or appreciation. Financing is structured through property-level mortgage loans with most multifamily properties carrying HUD insurance, and the company is managed by Pillar Income Asset Management, a subsidiary of its majority shareholder, relying entirely on external management and third-party property managers to conduct operations.