Transcontinental Realty Investors Inc. Files 13D/A Amendment

TL;DR

Transcontinental Realty Investors Inc. filed an amendment to its 13D filing on 12/13/2024. No major changes detailed in this snippet.

AI Summary

Transcontinental Realty Investors Inc. filed an amendment (Amendment No. 30) to its Schedule 13D on December 13, 2024. This filing relates to the company's securities and is an update to previous filings. The company is incorporated in Nevada and its fiscal year ends on December 31.

Why It Matters

This filing is an update to a significant ownership disclosure, which can signal changes in control or investment strategy for Transcontinental Realty Investors Inc.

Risk Assessment

Risk Level: low — This filing is an administrative amendment to a Schedule 13D, not detailing new significant transactions or changes in beneficial ownership.

Key Players & Entities

• TRANSCONTINENTAL REALTY INVESTORS INC (company) — Subject Company
• INCOME OPPORTUNITY REALTY INVESTORS INC /TX/ (company) — Subject Company (formerly)
• JOHNSTOWN CONSOLIDATED REALTY TRUST /CA/ (company) — Former Company
• ARCADIAN ENERGY, INC. (company) — Group Member
• MAY REALTY HOLDINGS, INC. (company) — Group Member
• REALTY ADVISORS, INC. (company) — Group Member
• REALTY ADVISORS, LLC (company) — Group Member

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, per value $0.01 par value (Title of Class of Securiti

Filing Documents

• r1212240sc13da30.htm (SC 13D/A) — 131KB
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• 0001214659-24-020472.txt ( ) — 137KB

Security and Issuer

Item 1. Security and Issuer This Amendment No.30 to Statement on Schedule 13D (this “ Amendment No. 30 ” ) relates to shares of Common Stock, par value $0.01 per share (the “ Shares ” ), of Income Opportunity Realty Investors, Inc., a Nevada corporation (the “ Issuer ” or “ IOR ” ), and further amends the Original Statement on Schedule 13D, as amended by Amendment Nos. 1 through 29 (the “ Amended on behalf of Transcontinental Realty Investors, Inc., a Nevada corporation ( “ TCI ” ), (Realty Advisors, Inc. ( “ RAI ” )and others who are no longer “ Reporting Persons. ” The principal executive offices of IOR are located at 1603 LBJ Freeway, Suite 800, Dallas, Texas 75234. The CUSIP number of the Shares is 452926-10-8. This Amendment No. 30 is being filed to reflect (i) the cessation of two “ Reporting Persons, ” specifically, Arcadian Energy, Inc., a Nevada corporation ( “ Arcadian ” ), and Realty Advisors, LLC, a Nevada limited liability company ( “ RALLC ” ), both of which are wholly owned subsidiaries of RAI and both of which distributed all Shares owned by them to RAI (See Item 5 below ) and (ii) a small change in TCI ’ s intention to make a limited tender offer to acquire up to 100,000 more Shares ( See Item 4 below).

Identity and Background

Item 2. Identity and Background (a)-(c), (f)This Amendment No. 30 is filed on behalf of (i) TCI, which has its Common Stock listed and traded on the New York Stock Exchange ( “ NYSE ” ), (ii) RAI, (iii) Arcadian, (iv) RALLC and (v) MRHI (all, collectively, the “ Reporting Persons ” ), each of which has its principal executive offices located at 1603 LBJ Freeway, Suite 800, Dallas, Texas 75234. The name and capacity with each of the Reporting Persons of each of the current executive officers, directors or managers of each continuing Reporting Person are set forth on Schedule “ 1 ” attached hereto and incorporated herein . The business address of each of the persons listed on Schedule “ 1" is 1603 LBJ Freeway, Suite 800, Dallas, Texas 75234. Each of the individuals who serve as executive officers, directors or managers of each Reporting Person is a citizen of the United States of America. Over 80% of TCI ’ s Common Stock is owned by subsidiaries of and/or American Realty Investors, Inc., a Nevada corporation ( “ ARL ” ), which also has its Common Stock listed and traded on the NYSE. Over 80% of the Common Stock of ARL is owned by subsidiaries of and/or RAI. RAI, in turn, is owned by May Realty Holdings, Inc., a Nevada corporation ( “ MRHI ” ), which, in turn, is owned by a trust established for the benefit of the children of Gene E. Phillips (deceased), known as the “ May Trust . ” (d)-(e) During the past five years, none of the Reporting Persons nor any officer, director or manager of any of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has any such person been a party to a civil proceeding of a judicial administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order in joining future violations of or prohibiting or mandatin

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. The transactions described herein were distributions to RAI by two of its subsidiaries utilizing funds necessary for such transactions from the working capital of RALLC. If TCI ultimately makes any additional acquisitions of Shares (whether by block purchase, limited tender offer for cash, or open market purchases) and/or any other transaction, same will be utilizing TCI ’ s available working capital funds. -7-

Purpose of Transaction

Item 4. Purpose of Transaction. The Reporting Persons have no present plans or proposals which would result in the Reporting Persons seeking to acquire the entire equity interest in the Issuer. Except as set forth in this Amendment No. 30 the Reporting Persons have no present plans or proposals which would relate to or would result in: (a) the acquisition by any person of any additional securities of the Issuer or the disposition of securities of the Issuer, except that the Reporting Persons may, if the appropriate opportunity exists at attractive prices, acquire additional securities of the Issuer (including by block purchases, a limited tender offer for cash, or open market purchases) or dispose of any portion or all of the securities of the Issuer owned by each or all of the Reporting Persons; or (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; or (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; or (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change a number or term of directors or fill any existing vacancies on the Board; or (e) any material change in the present capitalization or dividend policy of the Issuer; or (f) any other material change in the Issuer’s business or corporate structure; or (g) changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; or (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or cease to be authorized to be quoted in an interdealer quotation system of a registered national securities association; or (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. (a)According to the latest information available as of November 7, 2024, the total number of issued and outstanding Shares is believed to be 4,066,178 Shares. As of the date of this Amendment No. 30, each of the Reporting Persons directly owns and holds the following Shares: -8- Name Number of Shares Directly Owned Approximate Percent of Class * MRHI BB BB RAI 269,299 6.62% TCI 3,381,570 83.16% TOTAL 3,650,881 89.78% Pursuant to Rule 13d-3 under the Exchange Act, each of the directors of RAI and TCI and each may be deemed to beneficially own the Shares held directly by such Reporting Persons. Those individuals and the number of Shares deemed beneficially owned pursuant to Rule 13d-3 and the approximate percent of class as well as the relationship are set forth in the following table as of the date of this Amendment No. 30. Name of Director or Manager Entity No. Shares Beneficially Owned Approximate Percent* of Class Henry Butler TCI 3,381,570 83.16% William J. Hogan TCI 3,381,570 83.16% Robert Jakuszewski TCI 3,381,570 83.16% Ted R. Munselle TCI 3,381,570 83.16% Mickey Ned Phillips MRHI and RAI 269,299** 6.62% Fernando Victor Lara Celis TCI 3,381,570 83.16% * Percentage is based on 4,066,178 Shares outstanding or reported by the Issuer on November 7, 2024 ** Includes 170,984 Shares received by distribution to RAI from Arcadian, a wholly owned subsidiary of RAI, and 65,875 Shares received by distribution to RAI from RALLC, which is wholly owned by RAI, all occurring before December 31, 2023. -9- (b)Each Director of TCI expressly disclaims any personal beneficial interest in the Shares owned by TCI. Mickey Ned Phillips, as the sole director of RAI, holds the voting and dispositive power over the Shares held by RAI. (c)During the sixty calendar days ended December 11, 2024 , the Reporting Persons and their respective executive office

Contracts, Arrangements, Understandings

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

of the Amended Statement is hereby further amended

Item 6 of the Amended Statement is hereby further amended to read as follows: Of the Shares directly owned by RAI, 120,057 Shares are subject to an accommodation pledge for an obligation of another entity in connection with a loan from ABC Land & Development, Inc. ( “ ABCLD ” ). Of the Shares directly owned by TCI and RAI, 2,812,648 Shares owned by TCI, 83,404 Shares owned by RAI are all held in bank and brokerage accounts, along with other securities owned by each such entity, and, as such, those Shares may be deemed to be “ collateral ” for any borrowings made from time to time pursuant to customary margin or other account arrangements with such banks and/or brokers. Such arrangements are standard involving margin securities of up to a specified percentage of market value of the Shares as well as other securities in such accounts, bear interest at varying rates, and contain only standard default in similar provisions, the operation of which should not give any other person immediate voting power or investment power over such Shares. Except as set forth in the preceding paragraphs, the Reporting Persons do not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities or the Issuer, including, but not limited to, transfer of voting of any of the securities, finders’ fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or losses, or the giving or withholding of proxies.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. None. -10-

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of their respective knowledge or belief, the undersigned certify that the information set forth in this Amendment No. 30 is true, complete and correct. Dated: December 11, 2024 REALTY ADVISORS, INC. TRANSCONTINENTAL REALTY INVESTORS, INC. By: /s/ Gina H. Kay By: /s/ Erik L. Johnson Gina H. Kay, Vice President and Treasurer Erik L. Johnson, President and Chief Executive Officer MAY REALTY HOLDINGS, INC. ARCADIAN ENERGY, INC. By: /s/ Gina H. Kay By: /s/ Robert C. Murray, Sr. Gina H. Kay, Vice President, Secretary and Treasurer Robert C. Murray, Sr., President -11- SCHEDULE 1 Directors, Managers and Officers of the Reporting Persons Entity Directors Executive Officers Transcontinental Realty Investors, Inc. Henry A. Butler William J. Hogan Robert Jakuszewski Ted R. Munselle Fernando Victor Lara Celis Louis J. Corna, Executive Vice President, General and Tax Counsel, and Secretary Erik L. Johnson, President and Chief Executive Officer Realty Advisors, Inc. Mickey Ned Phillips Erik L. Johnson, President Gina H. Kay, Vice President and Treasurer Louis J. Corna, Vice President and Secretary May Realty Holdings, Inc. Mickey Ned Phillips Mickey Ned Phillips, President Gina H. Kay, Vice President and Treasurer Louis J. Corna, Vice President and Secretary -12-

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