Tarragon Corp (TRRPQ/TRRPQ.PK) Wrap Up:

Tarragon Corporation and its subsidiaries engage in the development, ownership, and management of real estate properties in the United States. It operates in two divisions, a Real Estate Development Division (Development Division) and an Investment Division. The Development Division focuses on developing, renovating, building, and marketing homes in high-density, urban locations and in master-planned communities. This segment principally engages in the development of new mid-rise or high-rise condominiums and town homes for sale to residents; development of new rental properties, primarily apartment communities; condominium conversions of existing apartment communities; and land development and sale. The Investment Division owns and operates a portfolio of stabilized rental apartment communities located in Alabama, Connecticut, Florida, New Jersey, Texas, Rhode Island, Tennessee, Maryland, Oklahoma, Michigan, and Georgia. This segment also provides property management services to the Development Division?s rental properties that are under conversion to condominiums or under construction and in the initial lease-up stage. As of December 31, 2007, Tarragon owned and operated approximately 9,000 apartments in 12 states, as well as provided property management services to 2,798 apartments in 3 states. The company was founded in 1973 and is based in New York, New York. On January 12, 2009, Tarragon Corp filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey, Newark.