Tarragon, which last month changed its name to Tarragon Corp.,has an investment portfolio of approximately 14,000 apartments and1.4 million sf of commercial space. The company's total revenueswere $66.7 million, up 113% over the same timeframe from last year.For the six-month period, revenues were $127.2 million, up 129%over the prior period revenues of $55.6 million.

"With the investment division's same-store net operating incomeup 7.6% over the same quarter last year and homebuilding revenue up280%, both of our divisions are now contributing strongly to ourgrowth," said Tarragon chair and CEO William Friedman. Since March31, Tarragon has started five new for-sale communities representing869 homes with a total sellout of more than $300 million. DuringTarragon's conference call, Friedman said the company had "strongearnings." He was eager about the performance of a number of newnortheast projects--two in Hoboken, NJ, one in Edgewater, NJ andone in Warwick, NY.

In its homebuilding division sales, net income was $17.2million. At this time last year, the company was experiencing aloss of $5 million. Tarragon's investment division net operatingincome rose 17.6% in the second quarter to $16.9 million.