Prime Income Asset Management Completes Successful Lease Up of Sugar Mill and Savoy of Garland Multifamily Developments

DALLAS -- Prime Income Asset Management (Prime), a Dallas-based advisory and management company to real estate and energy sector companies, announces their successful construction and lease up of the Savoy of Garland in Texas and Sugar Mill Apartments in Baton Rouge, Louisiana.

Savoy of Garland and Sugar Mill were both completed in the summer of 09 and are currently over 90% leased. “Both properties exceeded our expectations; so much so that we’re developing another property, Parc at Denham Springs in Baton Rouge Louisiana. Baton Rouge experienced a great influx of residents after Hurricane Katrina, and we’re happy that we can provide new, centrally located, affordable housing for the city’s newest residents,” comments Al Crozier, executive vice president of residential construction.Prime Income Asset Management, LLC (www.primeasset.com) is a Dallas-based real estate management company and energy sector advisor, which owns, develops and manages in excess of $3.5 billion of commercial real estate for public and private real estate entities and advises energy companies with both domestic and international gas, oil and electricity operations. Affiliated companies also under management or advisement by Prime include American Realty Investors, Inc. (NYSE: ARL), Transcontinental Realty Investors, Inc. (NYSE: TCI), Income Opportunity Realty Investors, Inc. (AMEX: IOT) and Regis Property Management, LLC (www.regisinc.com). Prime Income Asset Management was founded by Gene E. Phillips (www.genephillips.org).Savoy of Garland is a newly developed property offering 144 units with such amenities as built in desks, crown molding, 9 foot ceilings in living and dining, and large walk in closets. The property also offers reserved covered parking, private remote access garages, and a community playground. Being close to Lake Ray Hubbard, residents are also able to rent onsite boat storage.

Prime Income Asset Management, LLC (www.primeasset.com) is a Dallas-based real estate management company and energy sector advisor, which owns, develops and manages in excess of $3.5 billion of commercial real estate for public and private real estate entities and advises energy companies with both domestic and international gas, oil and electricity operations. Affiliated companies also under management or advisement by Prime include American Realty Investors, Inc. (NYSE: ARL), Transcontinental Realty Investors, Inc. (NYSE: TCI), Income Opportunity Realty Investors, Inc. (AMEX: IOT) and Regis Property Management, LLC (www.regisinc.com). Prime Income Asset Management was founded by Gene E. Phillips (www.genephillips.org).