Filing Details

 

CUSIP No. 893617-20-9

1. Names of Reporting Persons.
Transcontinental Realty Acquisition Corporation
2. Check the Appropriate Box if a Member of a Group
(a) o
(b) o
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6. Citizenship or Place of Organization
Nevada
Number of Shares Beneficially Owned by Each Reporting Person With:	7. Sole Voting Power
	1,383,226
	8. Shared Voting Power
	-0-
	9. Sole Dispositive Power
	1,383,226
	10. Shared Dispositive Power
	-0-
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,383,226
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
o
13. Percent of Class Represented by Amount in Row (11)
15.87%
14. Type of Reporting Person
CO

 

 

 

 

 

 

_______________________

* ARL owns 5,384,194 Shares direct.

† 1,383,226 Shares are the same Shares owned by TRAC, which is a wholly owned subsidiary of ARL.

Pursuant to Rule 13d-3 under the Exchange Act, each of the directors of ARL may be deemed to beneficially own the number of Shares owned by ARL; each of the directors of ARL and TRAC may be deemed to beneficially own the number of Shares owned by TRAC described above; and each of the directors of RAI may be deemed to beneficially own the number of Shares owned by RAI. Those individuals and the number of Shares deemed beneficially owned pursuant to Rule 13d-3 and the approximate percent of the class, as well as the relationship, are set forth in the following table:

_______________________

✓ Daniel J. Moos, individually, owns 290,000 Shares, which are included in the table.

 

 

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

Item 6 of the Amended Statement is hereby further amended to read as follows:

TRAC made accommodation pledges for loans to others to First NBC Bank (655,000 Shares), Robert Grubin (100,000 Shares), Scott Kim (100,000 Shares) and ACRE Abode Bridge Limited (358,226 Shares).

Shares held by ARL are subject to accommodation pledges previously made for loans to others to Consolidated National Corporation (438,600 Shares), Elizabeth Shillington (161,959 Shares), Shaw (438,600 Shares), ACRE Abode Bridge Limited (2,371,238 Shares) and First NBC Bank (1,990 Shares).

Of the remaining Shares held by ARL, 422,370 may be deemed to be "collateral" for borrowings, pursuant to margin or other account arrangements with bankers and brokerage firms relating to brokerage accounts. Such arrangements are standard arrangements involving margin securities of up to a specified percentage of market value of the Shares and other collateral and bear interest at varying rates and contain only standard default and similar provisions, the operation of any of which should not give any other person immediate voting power or investment power over such securities.  Such arrangements exist with the Shares and other securities held in such accounts, and it is impracticable at any given time to determine the amounts, if any, with respect to the Shares, and interest costs under such arrangements may vary with applicable costs and account balances.

Shares held by RAI are subject to accommodation pledges for loans to others from ACRE Abode Bridge Limited (250,000 Shares) and First NBC Bank (50,000 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 of the Issuer, including finder's fees, joint ventures, loan or option arrangements, puts or calls, guaranties of profits, divisions of profits or loss, or the giving or withholding of proxies.

SIGNATURES

After reasonable inquiry and to the best of their respective knowledge and belief, the undersigned certify that the information set forth in This Amendment No. 53 to Statement on Schedule 13D is true, complete, and correct.

Dated: December 14, 2016

 

AMERICAN REALTY INVESTORS, INC. By: /s/ Gene S. Bertcher Gene S. Bertcher, Executive Vice President     REALTY ADVISORS, INC.     By: /s/ Gene S. Bertcher Gene S. Bertcher, Vice President

TRANSCONTINENTAL REALTY ACQUISITION CORPORATION By: /s/ Gene S. Bertcher    Gene S. Bertcher, Vice President       By: /s/ Daniel J. Moos Daniel J. Moos, Individually