Transcontinental Realty Investors, Inc. (TCI) is a real estate investment company that owns and operates multifamily apartments and commercial office properties across the Southern United States, supplemented by investments in mortgage notes receivable and land holdings. The company generates revenue through residential and commercial rental income while pursuing long-term appreciation by acquiring, developing, and selectively selling properties in secondary markets. TCI is externally managed by Pillar Income Asset Management, Inc., with no employees of its own, and finances its operations through operating cash flow, property sales, and debt—primarily HUD-insured mortgages on multifamily properties and conventional loans on commercial assets.