Urban builder Tarragon will file late quarterly report
New York-based urban home builder Tarragon has been approved in its request to file late quarterly reports for the periods ended June 30 and Sept. 30.
Tarragon, which is listed on the Nasdaq, has faced financial difficulties particularly in its Florida operations, which include developments in Fort Lauderdale, Orlando and Bradenton, Fla.
The builder specializes in high-density communities, with subsidiaries in the Northeast, Florida, Texas and Tennessee.
“Tarragon's common stock will continue to be listed on the Nasdaq Global Select Market,” subject to the filing of the late reports with the Securities and Exchange Commission by Dec. 21, the company said in a statement. The company will be subject to delisting from the Nasdaq if the reports are not filed on time.
Tarragon recently announced reinstatement of several loans, including a $550 million loan from General Electric Capital and $79 million from Fannie Mae. The company also recently sold $91 million in property in Florida and Tennessee.
According to its Web site, Tarragon currently has 14,600 homes under development.