IRVING, Texas, Aug. 2, 2012 /PRNewswire/ -- Catlyn Capital Corporation ("Catlyn") and TDI Real Estate Holdings LLC ("TDI") announce the recent closing of TDI/C Real Estate Holdings ("TDI/Catlyn"), a $500 million joint venture platform to develop assets throughout Texas, Arizona and Colorado. The platform will seek to capitalize on the compelling market dynamics in the primarily multifamily sector created by the growing renter base, strong job growth and limited new supply. The venture will focus exclusively on Class A investments in core markets.
TDI/Catlyn closed a $50 million, 444 unit development in Allen, Texas and a $65 million, 388 unit development, in Scottsdale, Arizona. The venture is finalizing construction plans on four additional communities, totaling 1,323 units, with a total project cost of $185 million in the Phoenix, Dallas and Austin metros.
"There are exceptional opportunities in the market for organizations with the experience and bench strength to identify and execute in this highly competitive field," said TDI's President and CEO, Mark Bryant. "Our management team's 30 year track record of success will be an important factor in identifying and capitalizing on the best opportunities."
In addition to the TDI/Catlyn venture, TDI currently has 800 units under construction valued at $200 million. TDI Real Estate Holdings LLC was launched in 2010 in order to take advantage of strong fundamentals projected over the next several years. The Executive Leadership team has an average of 20 years of fully integrated experience in all major U.S. metros, including construction, development, asset and property management.
Catlyn Capital Corp. and Catlyn Partners, Ltd. (collectively "Catlyn") were formed in 1991 as a vehicle for opportunistic investments in real estate. Catlyn's investment strategy is to identify and capitalize on development opportunities providing attractive yields and/or substantial value enhancement opportunities.
SOURCE TDI Real Estate Holdings, LLC