TAYO Builds Texas Real Estate Portfolio as Texas Becomes OPEC Alternative

By Business Wire,  July 03, 2014, 05:00:00 AM EDT

HOUSTON--(BUSINESS WIRE)-- As Taylor Consulting, Inc. (OTCBB:TAYO) continues to build its West Texas real estate portfolio, the region's economy continues to boom. Texas' crude oil production has doubled over the past three years to hit 3 million barrels a day according to the latest figures—matching or exceeding some of OPEC's biggest exporters.

With more and more drilling planned for West Texas' massive shale plays, Texas appears poised to soon overtake all but the largest Middle Eastern petro-states. A little more than three million barrels a day would make Texas OPEC's second largest producer, according to OPEC's May 2014 oil market report.

The gains in Texas came from unconventional tight oil and shale plays in the Eagle Ford, Western Gulf Basin and, especially, the Permian Basin, regions where new drilling technologies have developed quickly. With a new oil boom fully underway, thousands of workers and businesses have flocked to Texas and its strong economy, sparking high demand for housing and real estate.

Through its real estate division, Third Avenue Development, LLC, TAYO has signed contracts to acquire two West Texas properties and executed a letter of intent to form a property development joint venture with The Home Masters Inc. TAYO continues to conduct due diligence toward additional real estate acquisitions in the state, where population growth has averaged 1.7 percent annually over the past three years—more than double the national average.

TAYO recently created Third Avenue Development, LLC to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE:AMH), Silver Bay Realty Trust Corp. (NYSE:SBY), Equity Residential (NYSE:EQR) and Essex Property Trust Inc. (NYSE:ESS) and more.

For more information on Third Avenue Development, please visit, www.thirdavenuedevelopment.com.

About Third Avenue Development, LLC.

A division of Taylor Consulting, Inc. ( TAYO ), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country's top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Source: Taylor Consulting, Inc.

This article appears in: News Headlines

Referenced Stocks: AMH, EQR, ESS, SBY, TAYO

Latest News Video

Most Active by Volume

Company Last Sale Change Net / %
FTR $ 6.79 0.85 ▲ 14.31%
WIN $ 11.83 1.30 ▲ 12.35%
SIRI $ 3.40 0.02 ▲ 0.59%
T $ 36.59 0.94 ▲ 2.64%
CTL $ 39.90 2.19 ▲ 5.81%
BAC $ 15.34 0.16 ▼ 1.03%
RAD $ 6.56 0.13 ▼ 1.94%
AAPL $ 98.38 0.64 ▼ 0.65%

As of 7/29/2014, 04:04 PM