HOUSTON–As part of the play to take Taylor Consulting Inc. from a sports consulting firm to the real estate investor, the company has created Third Avenue Development Corp. This new division will solely focus on expanding the company's business into the real estate sector, with a special emphasis on Texas.

“Texas is the perfect place to establish the Third Avenue Development brand, with a constant stream of new residents flooding into the state creating high demand for both raw land and existing properties,” says Taylor Consulting President and CEO Scott Wheeler, in a statement. “The establishment of this new division will allow Taylor Consulting to keep this new business separate from its traditional consulting work.”

As GlobeSt.com previously reported, Taylor Consulting has begun shortlisting assets for acquisition rehabilitation, and potential resale. The company is already looking into a number of assets in Houston and throughout Texas, with a multiple-market strategy in mind. Additionally, the company is evaluating both undeveloped land and commercial, single-family and multi-family properties.

Taylor Consulting “has made a major commitment to investing in raw land and real estate properties, but now we need the tools and infrastructure to begin buying, developing and selling in earnest,” Wheeler says.

As part of that, the company has reached a preliminary agreement to purchase Houston-based Mustang Investment & Property Group. The deal is expected to finalize later this month.

Through its investments, Third Avenue Development hopes to compete with companies such as American Homes 4 Rent, Silver Bay Realty Trust Corp., Equity Residential and Essex Property Trust Inc.

Taylor Consulting did not return requests for comment.