Taylor Consulting’s
executive leadership will be traveling to West Texas this week to check out
promising real estate acquisitions in a region experiencing a huge economic and
population surge surrounding the production of shale oil and gas. Scott
Wheeler, chief executive, will be on hand to consider a number of properties
located on or near West Texas’ massive Cline Shale formation. Covering an area
of over one million acres, the Cline Shale could be the largest North American
oil play in history. Experts are predicting it could produce as many as 30
billion barrels of oil.
Residents are moving
to the region due to new jobs created by a rush of energy exploration and
development made possible by cutting-edge drilling techniques. The boom has
attracted enough new residents to the region to send home and rent prices
noticeably upward in many areas. For a company like TAYO working to break into
the U.S. real estate industry, the translation is solid business opportunity.
“We’ll be looking
mainly for raw land and commercial properties for development,” said Wheeler.
“There is tremendous, rising demand for commercial property, especially for
trucking, as well as big multifamily developments. There is a shortage of
housing and amenities in the region, and we plan to capitalize on the swelling
demand.”
TAYO recently
created a new division—Third Avenue Development, LLC—to invest in promising
real estate assets to compete alongside American Homes 4 Rent (AMH), Silver Bay
Realty Trust Corp. (SBY), Equity Residential (EQR), Essex Property Trust Inc.
(ESS), and more.
TAYO plans to grow
its national brand by building up its portfolio of assets in Texas, acquiring
properties with high potential and applying multiple marketing strategies.
Third Avenue 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.
For more information
on Third Avenue Development visit www.ThirdAvenueDevelopment.com
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