The property development and management company's investment portfolio also showed dramatic increases in the first nine months of this year, shooting up 50%, from $5.3 million last year to $8 million in 2001.
The company's reported revenue for third quarter declined to $27.9 million with a net loss of $1.8 million compared to revenue of $40.4 million and net income of $14.4 million last year. Last year's results included gains on sale and other non-recurring income exceeding $18 million compared to $3.1 million is similar income this year.
Tarragon owns or controls nearly 20,000 residential units primarily in Florida, Connecticut, Texas and California as well as roughly 2.5 million sf of office parks and retail centers.
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