Attached files
| file | filename |
|---|---|
| 8-K - TARRAGON CORP 8-K 1-11-2010 - TARRAGON CORP | form8k.htm |
EXHIBIT
99.1
UNITED
STATES BANKRUPTCY COURT
DISTRICT
OF NEW JERSEY
|
In
re: Tarragon Corporation
|
Case
No. 09-10555 (DHS)
|
|
Reporting
Period: 11/1/09 through
11/30/09
|
MONTHLY
OPERATING REPORT
File with
Court and submit copy to United States Trustee within 20 days after end of
month
Submit
copy of report to any official committee appointed in the case.
In
preparing this monthly operating report, the Company has relied upon unaudited
financial information and other analyses prepared by its accounting
department. The information and other data contained herein is deemed
to be materially accurate, and is subject to certain timing and reclassification
adjustments as more information becomes available.
I declare
under penalty of perjury (28 U.S.C. Section 1746) that this report and the
attached documents are true and correct to the best of my knowledge and
belief.
|
/s/
Stephanie Buffington
|
Date: December
31, 2009
|
|
|
Signature
of Authorized Individual
|
||
|
Stephanie
Buffington
|
Director
of Financial Reporting, Tarragon Corporation
|
|
|
Printed
Name of Authorized Individual
|
Title
of Authorized Individual
|
_______________
1Authorized
individual must be an officer, director or shareholder if debtor is a
corporation; a partner if debtor is a partnership; a manager or member if debtor
is a limited liability company.
- 1
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
Unaudited
– For Internal Use Only
|
Tarragon
Corporation
|
Tarragon
Management
Inc
|
Tarragon
South
Development
Corporation
|
Tarragon
Development
Corporation
|
Tarragon
Development
Company
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
- | |||||||||||||||||||
|
BUILDING
IMPROVEMENTS
|
- | |||||||||||||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
- | |||||||||||||||||||
|
NET
RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH
AND CASH EQUIVALENTS
|
1,815,977 | |||||||||||||||||||
|
RESTRICTED
CASH
|
259,000 | |||||||||||||||||||
|
GOODWILL
|
1,222,893 | 1,469,450 | ||||||||||||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
- | |||||||||||||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
2,360,038 | 14,073 | ||||||||||||||||||
|
DUE
FROM AFFILIATE
|
473,171,966 | |||||||||||||||||||
|
PREPAID
EXPENSES
|
1,392,436 | |||||||||||||||||||
|
DEPOSITS
AND OTHER ASSETS
|
3,260,218 | - | ||||||||||||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
(282,142,150 | ) | (81,192,199 | ) | (86,005,493 | ) | (36,702,980 | ) | ||||||||||||
|
DEFERRED
TAX ASSET
|
1,275,812 | |||||||||||||||||||
|
DEFERRED
FINANCING EXPENSES
|
3,482,236 | |||||||||||||||||||
|
TOTAL
ASSETS
|
$ | 206,098,426 | $ | 1,483,523 | $ | (81,192,199 | ) | $ | (86,005,493 | ) | $ | (36,702,980 | ) | |||||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | 172,082,689 | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
ACCRUED
INTEREST
|
9,124,562 | |||||||||||||||||||
|
ACCRUED
PROPERTY TAXES
|
- | |||||||||||||||||||
|
ACCOUNTS
PAYABLE TRADE
|
1,878,754 | |||||||||||||||||||
|
DUE
TO AFFILIATE
|
358,800,453 | |||||||||||||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
21,940,192 | 88,724 | ||||||||||||||||||
|
TENANT
SECURITY DEPOSITS
|
- | |||||||||||||||||||
|
TOTAL
LIABILITIES
|
563,826,650 | 88,724 | - | - | - | |||||||||||||||
|
MINORITY
INTEREST
|
- | |||||||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(357,728,224 | ) | 1,394,799 | (81,192,199 | ) | (86,005,493 | ) | (36,702,980 | ) | |||||||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 206,098,426 | $ | 1,483,523 | $ | (81,192,199 | ) | $ | (86,005,493 | ) | $ | (36,702,980 | ) | |||||||
| $ | (283,695,494 | ) |
RE
of consolidated subs
|
|||||||||||||||||
| 1,553,344 |
Investment
in Keane Stud
|
|||||||||||||||||||
| $ | (282,142,150 | ) | ||||||||||||||||||
- 2
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
(Continued)
Unaudited
– For Internal Use Only
|
Block
88
Development,
LLC
|
Charleston
Tarragon
Manager,
LLC
|
MSCP,
Inc.
|
Tarragon
Stratford,
Inc.
|
TDC
Hanover
Holdings,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
||||||||||||||||||||
|
BUILDING
IMPROVEMENTS
|
||||||||||||||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
||||||||||||||||||||
|
NET
RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH
AND CASH EQUIVALENTS
|
||||||||||||||||||||
|
RESTRICTED
CASH
|
||||||||||||||||||||
|
GOODWILL
|
||||||||||||||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
||||||||||||||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
||||||||||||||||||||
|
DUE
FROM AFFILIATE
|
||||||||||||||||||||
|
PREPAID
EXPENSES
|
||||||||||||||||||||
|
DEPOSITS
AND OTHER ASSETS
|
||||||||||||||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
(1,313,610 | ) | 14,764 | (3,190 | ) | (315,789 | ) | (18,302,981 | ) | |||||||||||
|
DEFERRED
TAX ASSET
|
||||||||||||||||||||
|
DEFERRED
FINANCING EXPENSES
|
||||||||||||||||||||
|
TOTAL
ASSETS
|
$ | (1,313,610 | ) | $ | 14,764 | $ | (3,190 | ) | $ | (315,789 | ) | $ | (18,302,981 | ) | ||||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
ACCRUED
INTEREST
|
||||||||||||||||||||
|
ACCRUED
PROPERTY TAXES
|
||||||||||||||||||||
|
ACCOUNTS
PAYABLE TRADE
|
||||||||||||||||||||
|
DUE
TO AFFILIATE
|
||||||||||||||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||||||
|
TENANT
SECURITY DEPOSITS
|
||||||||||||||||||||
|
TOTAL
LIABILITIES
|
- | - | - | - | - | |||||||||||||||
|
MINORITY
INTEREST
|
||||||||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(1,313,610 | ) | 14,764 | (3,190 | ) | (315,789 | ) | (18,302,981 | ) | |||||||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | (1,313,610 | ) | $ | 14,764 | $ | (3,190 | ) | $ | (315,789 | ) | $ | (18,302,981 | ) | ||||||
- 3
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
(Continued)
Unaudited
– For Internal Use Only
|
Omni
Equities
Corporation
|
Fenwick
Plantation
Tarragon,
LLC
|
Orion
Towers
Tarragon
LLP
|
Bermuda
Island
Tarragon
LLC
|
The
Park
Development
East,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | - | $ | - | $ | 5,521,309 | $ | - | $ | 3,209,352 | ||||||||||
|
LAND
|
- | - | 10,009,124 | - | ||||||||||||||||
|
BUILDING
IMPROVEMENTS
|
- | - | 21,506,365 | - | ||||||||||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
- | - | (2,489,318 | ) | - | |||||||||||||||
|
NET
RENTAL REAL ESTATE
|
- | - | - | 29,026,172 | - | |||||||||||||||
|
CASH
AND CASH EQUIVALENTS
|
- | - | 97,128 | - | ||||||||||||||||
|
RESTRICTED
CASH
|
- | - | 113,125 | - | ||||||||||||||||
|
GOODWILL
|
- | - | - | - | ||||||||||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
- | - | 5,705 | - | ||||||||||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
- | - | - | - | ||||||||||||||||
|
DUE
FROM AFFILIATE
|
1,552,864 | - | - | - | ||||||||||||||||
|
PREPAID
EXPENSES
|
- | 339 | 135,971 | 336 | ||||||||||||||||
|
DEPOSITS
AND OTHER ASSETS
|
- | - | 27,599 | - | ||||||||||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
(5,397 | ) | - | - | - | - | ||||||||||||||
|
DEFERRED
TAX ASSET
|
- | - | - | - | ||||||||||||||||
|
DEFERRED
FINANCING EXPENSES
|
- | - | - | - | ||||||||||||||||
|
TOTAL
ASSETS
|
$ | (5,397 | ) | $ | 1,552,864 | $ | 5,521,648 | $ | 29,405,700 | $ | 3,209,688 | |||||||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | - | $ | - | $ | 7,690,400 | $ | 41,458,495 | $ | 3,600,000 | ||||||||||
|
ACCRUED
INTEREST
|
- | 795,434 | 909,221 | 375,100 | ||||||||||||||||
|
ACCRUED
PROPERTY TAXES
|
1,869 | 107,110 | - | 203,939 | ||||||||||||||||
|
ACCOUNTS
PAYABLE TRADE
|
4,610 | 46,854 | 193,860 | - | ||||||||||||||||
|
DUE
TO AFFILIATE
|
- | 37,918,378 | 3,679,496 | 9,438,249 | ||||||||||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
70,000 | 2,944,852 | 1,196,989 | 146,626 | ||||||||||||||||
|
TENANT
SECURITY DEPOSITS
|
- | - | 72,327 | - | ||||||||||||||||
|
TOTAL
LIABILITIES
|
- | 76,480 | 49,503,027 | 47,510,388 | 13,763,913 | |||||||||||||||
|
MINORITY
INTEREST
|
- | - | - | - | ||||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(5,397 | ) | 1,476,384 | (43,981,379 | ) | (18,104,687 | ) | (10,554,225 | ) | |||||||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | (5,397 | ) | $ | 1,552,864 | $ | 5,521,648 | $ | 29,405,700 | $ | 3,209,688 | |||||||||
- 4
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
(Continued)
Unaudited
– For Internal Use Only
|
The
Park
Development
West,
LLC
|
One
Las
Olas,
Ltd.
|
900
Monroe
Development,
LLC
|
Central
Square
Tarragon
LLC
|
Tarragon
Edgewater
Associates,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | - | $ | 1,980,793 | $ | 4,624,733 | $ | 7,770,202 | $ | 258,610 | ||||||||||
|
LAND
|
- | - | - | - | - | |||||||||||||||
|
BUILDING
IMPROVEMENTS
|
- | - | - | - | - | |||||||||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
- | - | - | - | - | |||||||||||||||
|
NET
RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH
AND CASH EQUIVALENTS
|
- | 75 | - | 75 | - | |||||||||||||||
|
RESTRICTED
CASH
|
- | 63,766 | - | - | - | |||||||||||||||
|
GOODWILL
|
- | - | - | - | - | |||||||||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
- | - | - | - | - | |||||||||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
- | - | - | - | - | |||||||||||||||
|
DUE
FROM AFFILIATE
|
- | 521,465 | - | - | 8,913,631 | |||||||||||||||
|
PREPAID
EXPENSES
|
- | 100,351 | 337 | 367 | - | |||||||||||||||
|
DEPOSITS
AND OTHER ASSETS
|
- | 1,121 | 36 | 4,943 | 35 | |||||||||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED
TAX ASSET
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED
FINANCING EXPENSES
|
- | 18,810 | - | - | - | |||||||||||||||
|
TOTAL
ASSETS
|
$ | - | $ | 2,686,381 | $ | 4,625,106 | $ | 7,775,587 | $ | 9,172,276 | ||||||||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | - | $ | 1,960,578 | $ | 3,900,000 | $ | 8,970,000 | $ | - | ||||||||||
|
ACCRUED
INTEREST
|
- | 285,650 | 405,064 | 2,108,066 | - | |||||||||||||||
|
ACCRUED
PROPERTY TAXES
|
- | 263,215 | 58,717 | 441,898 | 189,836 | |||||||||||||||
|
ACCOUNTS
PAYABLE TRADE
|
95,836 | 35,935 | 9,152 | 4,875 | 13,442 | |||||||||||||||
|
DUE
TO AFFILIATE
|
41,141,485 | - | 6,328,023 | 12,751,630 | - | |||||||||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
690,375 | 680,746 | 353,844 | 33,390 | 613,549 | |||||||||||||||
|
TENANT
SECURITY DEPOSITS
|
- | - | - | - | - | |||||||||||||||
|
TOTAL
LIABILITIES
|
41,927,696 | 3,226,123 | 11,054,800 | 24,309,859 | 816,828 | |||||||||||||||
|
MINORITY
INTEREST
|
- | - | - | - | - | |||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(41,927,696 | ) | (539,742 | ) | (6,429,694 | ) | (16,534,272 | ) | 8,355,449 | |||||||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | - | $ | 2,686,381 | $ | 4,625,106 | $ | 7,775,587 | $ | 9,172,276 | ||||||||||
- 5
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
(Continued)
Unaudited
– For Internal Use Only
|
Orlando
Central
Park
Tarragon,
L.L.C.
|
800
Madison
Street
Urban
Renewal,
LLC
|
Murfreesboro
Gateway
Properties,
LLC
|
Tarragon
Stonecrest
LLC
|
Vista
Lakes
Tarragon,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | - | $ | 78,737,277 | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
- | - | - | - | - | |||||||||||||||
|
BUILDING
IMPROVEMENTS
|
- | - | - | - | - | |||||||||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
- | - | - | - | - | |||||||||||||||
|
NET
RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH
AND CASH EQUIVALENTS
|
3,012 | 98,602 | 4,607 | - | - | |||||||||||||||
|
RESTRICTED
CASH
|
- | 288,481 | - | - | - | |||||||||||||||
|
GOODWILL
|
- | - | - | - | - | |||||||||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
- | 14,781 | - | - | - | |||||||||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
- | - | - | - | - | |||||||||||||||
|
DUE
FROM AFFILIATE
|
- | - | - | - | 27,177,671 | |||||||||||||||
|
PREPAID
EXPENSES
|
- | 70,755 | 3,604 | - | - | |||||||||||||||
|
DEPOSITS
AND OTHER ASSETS
|
- | 9,248 | 29,154 | - | - | |||||||||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED
TAX ASSET
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED
FINANCING EXPENSES
|
- | 117,627 | - | - | - | |||||||||||||||
|
TOTAL
ASSETS
|
$ | 3,012 | $ | 79,336,772 | $ | 37,366 | $ | - | $ | 27,177,671 | ||||||||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | 1,105,918 | $ | 71,134,669 | $ | - | $ | - | $ | - | ||||||||||
|
ACCRUED
INTEREST
|
381,524 | 96,011 | - | - | - | |||||||||||||||
|
ACCRUED
PROPERTY TAXES
|
- | 387,574 | - | - | - | |||||||||||||||
|
ACCOUNTS
PAYABLE TRADE
|
38,481 | 546,358 | 86,986 | 124,297 | - | |||||||||||||||
|
DUE
TO AFFILIATE
|
2,596,630 | 7,168,144 | 7,828,463 | 5,044,502 | - | |||||||||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
410,078 | 1,102,517 | 92,073 | 161,297 | - | |||||||||||||||
|
TENANT
SECURITY DEPOSITS
|
- | 215,109 | - | - | - | |||||||||||||||
|
TOTAL
LIABILITIES
|
4,532,631 | 80,650,382 | 8,007,522 | 5,330,095 | - | |||||||||||||||
|
MINORITY
INTEREST
|
- | - | - | - | - | |||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(4,529,618 | ) | (1,313,610 | ) | (7,970,156 | ) | (5,330,095 | ) | 27,177,671 | |||||||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 3,012 | $ | 79,336,772 | $ | 37,366 | $ | - | $ | 27,177,671 | ||||||||||
- 6
-
TARRAGON
CORPORATION
CONSOLIDATING
BALANCE SHEET
November
30, 2009
(Continued)
Unaudited
– For Internal Use Only
|
Non
Filing
Entities
Combined
|
Eliminations
|
Total
|
||||||||||
|
ASSETS
|
||||||||||||
|
REAL
ESTATE INVENTORY
|
$ | 34,073,292 | $ | 6,077,031 | $ | 142,252,598 | ||||||
|
LAND
|
69,592,579 | - | 79,601,703 | |||||||||
|
BUILDING
IMPROVEMENTS
|
427,101,643 | - | 448,608,008 | |||||||||
|
LESS: ACCUMULATED
DEPRECIATION
|
(125,459,919 | ) | - | (127,949,237 | ) | |||||||
|
NET
RENTAL REAL ESTATE
|
371,234,303 | - | 400,260,475 | |||||||||
|
CASH
AND CASH EQUIVALENTS
|
482,178 | - | 2,501,655 | |||||||||
|
RESTRICTED
CASH
|
11,858,140 | - | 12,582,512 | |||||||||
|
GOODWILL
|
- | - | 2,692,343 | |||||||||
|
ACCOUNTS
RECEIVABLE BASE RENT
|
203,750 | - | 224,236 | |||||||||
|
MISCELLANEOUS
ACCOUNTS RECEIVABLE
|
192,074 | (14,073 | ) | 2,552,112 | ||||||||
|
DUE
FROM AFFILIATE
|
117,435,487 | (628,773,084 | ) | - | ||||||||
|
PREPAID
EXPENSES
|
1,738,180 | - | 3,442,677 | |||||||||
|
DEPOSITS
AND OTHER ASSETS
|
666,736 | - | 3,999,089 | |||||||||
|
INVESTMENTS
IN SUBSIDIARIES
|
- | 507,522,370 | 1,553,344 | |||||||||
|
DEFERRED
TAX ASSET
|
- | - | 1,275,812 | |||||||||
|
DEFERRED
FINANCING EXPENSES
|
4,200,849 | - | 7,819,522 | |||||||||
|
TOTAL
ASSETS
|
$ | 542,084,989 | $ | (115,187,756 | ) | $ | 581,156,377 | |||||
|
LIABILITIES
AND SHAREHOLDERS' DEFICIT
|
||||||||||||
|
LIABILITIES:
|
||||||||||||
|
MORTGAGE
NOTES PAYABLE
|
$ | 551,725,231 | $ | - | $ | 863,627,980 | ||||||
|
ACCRUED
INTEREST
|
6,603,395 | - | 21,084,027 | |||||||||
|
ACCRUED
PROPERTY TAXES
|
2,629,491 | 14,732 | 4,298,382 | |||||||||
|
ACCOUNTS
PAYABLE TRADE
|
1,730,556 | - | 4,809,996 | |||||||||
|
DUE
TO AFFILIATE
|
77,991,159 | (570,686,611 | ) | - | ||||||||
|
ACCOUNTS
PAYABLE AND OTHER LIABILITIES
|
12,267,073 | (109,579 | ) | 42,682,745 | ||||||||
|
TENANT
SECURITY DEPOSITS
|
2,087,913 | 6,123 | 2,381,473 | |||||||||
|
TOTAL
LIABILITIES
|
655,034,818 | (570,775,335 | ) | 938,884,602 | ||||||||
|
MINORITY
INTEREST
|
- | 13,242,947 | 13,242,947 | |||||||||
|
SHAREHOLDERS' DEFICIT
|
(112,949,829 | ) | 455,587,579 | (357,728,225 | ) | |||||||
|
TOTAL
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 542,084,989 | $ | (115,187,756 | ) | $ | 581,156,377 | |||||
- 7
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
Unaudited
- For Internal Use Only
|
Tarragon
Corporation
|
Tarragon
Management
Inc
|
Tarragon
South
Development
Corporation
|
Tarragon
Development
Corporation
|
Tarragon
Development
Company
LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
Rental
and other
|
142,101 | 894,152 | ||||||||||||||||||
|
Total
revenue
|
142,101 | 894,152 | - | - | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost
of sales
|
- | - | ||||||||||||||||||
|
Property
operations
|
(535,639 | ) | - | |||||||||||||||||
|
Depreciation
|
- | 34,544 | ||||||||||||||||||
|
Provision
for losses
|
1,400,000 | - | ||||||||||||||||||
|
Impairment
charges
|
- | - | ||||||||||||||||||
|
General
and administrative
|
23,263,919 | 1,027,652 | ||||||||||||||||||
|
Total
expenses
|
24,128,280 | 1,062,196 | - | - | - | |||||||||||||||
|
Other
income and (expenses):
|
||||||||||||||||||||
|
Equity
in loss of subsidiaries
|
(86,892,253 | ) | - | |||||||||||||||||
|
Minority
interest income of partnerships and joint ventures
|
- | - | ||||||||||||||||||
|
Interest
income
|
234,279 | - | ||||||||||||||||||
|
Interest
expense
|
(7,841,168 | ) | - | |||||||||||||||||
|
Gain
(loss) on extinguishment of debt
|
- | - | ||||||||||||||||||
|
Gain
(loss) on debt restructuring
|
- | - | ||||||||||||||||||
|
Gain
(loss) on transfer of assets
|
- | - | ||||||||||||||||||
|
Gain
(loss) on disposition of assets
|
(4,497,534 | ) | ||||||||||||||||||
|
Gain
(loss) on sale of real estate
|
- | - | ||||||||||||||||||
|
Litigation,
settlements, and other claims
|
3,404,122 | - | ||||||||||||||||||
|
Total
other income and (expenses)
|
(95,592,554 | ) | - | - | - | - | ||||||||||||||
|
Income
tax expense
|
(42,342 | ) | - | - | - | - | ||||||||||||||
|
Discontinued
operations
|
- | - | - | - | - | |||||||||||||||
|
Net
income (loss)
|
$ | (119,621,075 | ) | $ | (168,044 | ) | $ | - | $ | - | $ | - | ||||||||
- 8
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
(Continued)
Unaudited
- For Internal Use Only
|
Block
88
Development,
LLC
|
Charleston
Tarragon
Manager,
LLC
|
MSCP,
Inc.
|
Tarragon
Stratford,
Inc.
|
TDC
Hanover
Holdings,
LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
Rental
and other
|
||||||||||||||||||||
|
Total
revenue
|
- | - | - | - | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost
of sales
|
||||||||||||||||||||
|
Property
operations
|
||||||||||||||||||||
|
Depreciation
|
||||||||||||||||||||
|
Provision
for losses
|
||||||||||||||||||||
|
Impairment
charges
|
||||||||||||||||||||
|
General
and administrative
|
||||||||||||||||||||
|
Total
expenses
|
- | - | - | - | - | |||||||||||||||
|
Other
income and (expenses):
|
||||||||||||||||||||
|
Equity
in loss of subsidiaries
|
||||||||||||||||||||
|
Minority
interest income of partnerships and joint ventures
|
||||||||||||||||||||
|
Interest
income
|
||||||||||||||||||||
|
Interest
expense
|
||||||||||||||||||||
|
Gain
(loss) on extinguishment of debt
|
||||||||||||||||||||
|
Gain
(loss) on debt restructuring
|
||||||||||||||||||||
|
Gain
(loss) on transfer of assets
|
||||||||||||||||||||
|
Gain
(loss) on disposition of assets
|
||||||||||||||||||||
|
Gain
(loss) on sale of real estate
|
||||||||||||||||||||
|
Litigation,
settlements, and other claims
|
||||||||||||||||||||
|
Total
other income and (expenses)
|
- | - | - | - | - | |||||||||||||||
|
Income
tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued
operations
|
- | - | - | - | - | |||||||||||||||
|
Net
income (loss)
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
- 9
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
(Continued)
Unaudited
- For Internal Use Only
|
Omni
Equities
Corporation
|
Fenwick
Plantation
Tarragon,
LLC
|
Orion
Towers
Tarragon,
LLP
|
Bermuda
Island
Tarragon
LLC
|
The
Park
Development
East,
LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | 89,900 | $ | - | $ | - | $ | - | ||||||||||
|
Rental
and other
|
- | - | 3,197,019 | - | ||||||||||||||||
|
Total
revenue
|
- | 89,900 | - | 3,197,019 | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost
of sales
|
84,166 | - | - | - | ||||||||||||||||
|
Property
operations
|
26,793 | 125,668 | 1,582,913 | 204,966 | ||||||||||||||||
|
Depreciation
|
- | - | 530,906 | - | ||||||||||||||||
|
Provision
for losses
|
- | - | - | - | ||||||||||||||||
|
Impairment
charges
|
- | 12,922,862 | - | - | ||||||||||||||||
|
General
and administrative
|
1,391 | 29,173 | 12,678 | 692,261 | ||||||||||||||||
|
Total
expenses
|
- | 112,350 | 13,077,703 | 2,126,497 | 897,226 | |||||||||||||||
|
Other
income and (expenses):
|
||||||||||||||||||||
|
Equity
in loss of subsidiaries
|
- | - | - | - | ||||||||||||||||
|
Minority
interest income of partnerships and joint ventures
|
- | - | - | - | ||||||||||||||||
|
Interest
income
|
- | - | - | - | ||||||||||||||||
|
Interest
expense
|
- | (596,729 | ) | (1,387,891 | ) | (371,355 | ) | |||||||||||||
|
Gain
(loss) on extinguishment of debt
|
- | - | - | - | ||||||||||||||||
|
Gain
(loss) on debt restructuring
|
||||||||||||||||||||
|
Gain
(loss) on transfer of assets
|
- | - | - | - | ||||||||||||||||
|
Gain
(loss) on disposition of assets
|
- | - | - | - | ||||||||||||||||
|
Gain
(loss) on sale of real estate
|
- | - | - | - | ||||||||||||||||
|
Litigation,
settlements, and other claims
|
- | - | - | - | ||||||||||||||||
|
Total
other income and (expenses)
|
- | - | (596,729 | ) | (1,387,891 | ) | (371,355 | ) | ||||||||||||
|
Income
tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued
operations
|
- | - | - | - | - | |||||||||||||||
|
Net
income (loss)
|
$ | - | $ | (22,450 | ) | $ | (13,674,432 | ) | $ | (317,368 | ) | $ | (1,268,582 | ) | ||||||
- 10
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
(Continued)
Unaudited
- For Internal Use Only
|
The
Park
Development
West,
LLC
|
One
Las
Olas
Ltd.
|
900
Monroe
Development,
LLC
|
Central
Square
Tarragon
LLC
|
Tarragon
Edgewater
Associates,
LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | 18,924,400 | $ | 1,334,621 | $ | - | $ | - | $ | 891,477 | ||||||||||
|
Rental
and other
|
- | - | - | 5,709 | - | |||||||||||||||
|
Total
revenue
|
18,924,400 | 1,334,621 | - | 5,709 | 891,477 | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost
of sales
|
18,252,356 | 6,345,025 | - | - | 1,014,461 | |||||||||||||||
|
Property
operations
|
109,128 | 212,694 | 7,499 | 212,580 | (117,615 | ) | ||||||||||||||
|
Depreciation
|
- | - | - | - | - | |||||||||||||||
|
Provision
for losses
|
- | - | - | - | - | |||||||||||||||
|
Impairment
charges
|
- | - | 6,366,255 | - | - | |||||||||||||||
|
General
and administrative
|
101,622 | 254,838 | 1,420 | 66,255 | 13,992 | |||||||||||||||
|
Total
expenses
|
18,463,106 | 6,812,557 | 6,375,174 | 278,835 | 910,838 | |||||||||||||||
|
Other
income and (expenses):
|
||||||||||||||||||||
|
Equity
in loss of subsidiaries
|
- | - | - | - | - | |||||||||||||||
|
Minority
interest income of partnerships and joint ventures
|
- | - | - | - | - | |||||||||||||||
|
Interest
income
|
- | - | - | - | - | |||||||||||||||
|
Interest
expense
|
43,634 | (303,618 | ) | (54,520 | ) | (2,116,813 | ) | - | ||||||||||||
|
Gain
(loss) on extinguishment of debt
|
613,681 | - | - | - | - | |||||||||||||||
|
Gain
(loss) on debt restructuring
|
||||||||||||||||||||
|
Gain
(loss) on transfer of assets
|
- | - | - | - | - | |||||||||||||||
|
Gain
(loss) on disposition of assets
|
- | - | - | - | - | |||||||||||||||
|
Gain
(loss) on sale of real estate
|
- | - | - | - | - | |||||||||||||||
|
Litigation,
settlements, and other claims
|
- | - | - | - | - | |||||||||||||||
|
Total
other income and (expenses)
|
657,315 | (303,618 | ) | (54,520 | ) | (2,116,813 | ) | - | ||||||||||||
|
Income
tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued
operations
|
- | - | - | - | - | |||||||||||||||
|
Net
income (loss)
|
$ | 1,118,609 | $ | (5,781,554 | ) | $ | (6,429,694 | ) | $ | (2,389,940 | ) | $ | (19,361 | ) | ||||||
- 11
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
(Continued)
Unaudited
- For Internal Use Only
|
Orlando
Central
Park
Tarragon,
L.L.C.
|
800
Madison
Street
Urban
Renewal,
LLC
|
Murfreesboro
Gateway
Properties,
LLC
|
Tarragon
Stonecrest
LLC
|
|||||||||||||
|
Revenue:
|
||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | ||||||||
|
Rental
and other
|
106,227 | 2,619,143 | 1,457,334 | 88,437 | ||||||||||||
|
Total
revenue
|
106,227 | 2,619,143 | 1,457,334 | 88,437 | ||||||||||||
|
Expenses:
|
||||||||||||||||
|
Cost
of sales
|
- | - | - | - | ||||||||||||
|
Property
operations
|
319,993 | 1,681,350 | 528,818 | 48,600 | ||||||||||||
|
Depreciation
|
72,479 | - | 311,286 | 1,007 | ||||||||||||
|
Provision
for losses
|
- | - | - | - | ||||||||||||
|
Impairment
charges
|
- | - | - | - | ||||||||||||
|
General
and administrative
|
10,400 | 190,947 | 11,704 | 75,484 | ||||||||||||
|
Total
expenses
|
402,872 | 1,872,297 | 851,808 | 125,091 | ||||||||||||
|
Other
income and (expenses):
|
||||||||||||||||
|
Equity
in loss of subsidiaries
|
- | - | - | - | ||||||||||||
|
Minority
interest income of partnerships and joint ventures
|
- | - | - | - | ||||||||||||
|
Interest
income
|
- | - | - | - | ||||||||||||
|
Interest
expense
|
(260,061 | ) | (2,054,216 | ) | (764,347 | ) | (184,453 | ) | ||||||||
|
Gain
(loss) on extinguishment of debt
|
- | - | (8,992 | ) | - | |||||||||||
|
Gain
(loss) on debt restructuring
|
- | - | - | - | ||||||||||||
|
Gain
(loss) on transfer of assets
|
- | - | (3,734,857 | ) | 1,035,083 | |||||||||||
|
Gain
(loss) on disposition of assets
|
- | - | - | - | ||||||||||||
|
Gain
(loss) on sale of real estate
|
(741,820 | ) | - | - | - | |||||||||||
|
Litigation,
settlements, and other claims
|
- | - | - | - | ||||||||||||
|
Total
other income and (expenses)
|
(1,001,881 | ) | (2,054,216 | ) | (4,508,196 | ) | 850,630 | |||||||||
|
Income
tax expense
|
- | - | - | - | ||||||||||||
|
Discontinued
operations
|
- | - | - | - | ||||||||||||
|
Net
income (loss)
|
$ | (1,298,527 | ) | $ | (1,307,370 | ) | $ | (3,902,670 | ) | $ | 813,976 | |||||
- 12
-
TARRAGON
CORPORATION
CONSOLIDATING
INCOME STATEMENT
For the
Eleven Months Ended November 30, 2009
(Continued)
Unaudited
- For Internal Use Only
|
Non-Filing
Entities
Combined
|
Eliminations
|
Disc
Ops
Reclass
|
Total
|
|||||||||||||
|
Revenue:
|
||||||||||||||||
|
Sales
|
$ | 4,332,460 | $ | - | $ | - | $ | 25,572,858 | ||||||||
|
Rental
and other
|
67,826,379 | (826,570 | ) | (35,481 | ) | 75,474,451 | ||||||||||
|
Total
revenue
|
72,158,839 | (826,570 | ) | (35,481 | ) | 101,047,309 | ||||||||||
|
Expenses:
|
||||||||||||||||
|
Cost
of sales
|
3,745,419 | - | - | 29,441,428 | ||||||||||||
|
Property
operations
|
36,038,573 | 6 | (37,743 | ) | 40,408,583 | |||||||||||
|
Depreciation
|
12,028,694 | (34,544 | ) | - | 12,944,371 | |||||||||||
|
Provision
for losses
|
- | - | - | 1,400,000 | ||||||||||||
|
Impairment
charges
|
58,426,755 | - | - | 77,715,872 | ||||||||||||
|
General
and administrative
|
2,099,641 | 1,095,302 | - | 28,948,679 | ||||||||||||
|
Total
expenses
|
112,339,082 | 1,060,764 | (37,743 | ) | 190,858,934 | |||||||||||
|
Other
income and (expenses):
|
||||||||||||||||
|
Equity
in loss of subsidiaries
|
- | 79,775,680 | - | (7,116,573 | ) | |||||||||||
|
Minority
interest income of partnerships and joint ventures
|
494,128 | - | - | 494,128 | ||||||||||||
|
Interest
income
|
117 | - | - | 234,396 | ||||||||||||
|
Interest
expense
|
(32,184,193 | ) | - | 11,872 | (48,063,858 | ) | ||||||||||
|
Gain
(loss) on extinguishment of debt
|
(136,454 | ) | - | 123,888 | 592,123 | |||||||||||
|
Gain
(loss) on debt restructuring
|
18,298,913 | - | - | 18,298,913 | ||||||||||||
|
Gain
(loss) on transfer of assets
|
- | - | - | (2,699,775 | ) | |||||||||||
|
Gain
(loss) on disposition of assets
|
- | - | - | (4,497,534 | ) | |||||||||||
|
Gain
(loss) on sale of real estate
|
1,462,886 | - | (1,462,886 | ) | (741,821 | ) | ||||||||||
|
Litigation,
settlements, and other claims
|
- | - | - | 3,404,122 | ||||||||||||
|
Total
other income and (expenses)
|
(12,064,603 | ) | 79,775,680 | (1,327,126 | ) | (40,095,878 | ) | |||||||||
|
Income
tax expense
|
- | - | - | (42,342 | ) | |||||||||||
|
Discontinued
operations
|
- | - | 1,324,864 | 1,324,864 | ||||||||||||
|
Net
income (loss)
|
$ | (52,244,846 | ) | $ | 77,888,347 | $ | - | $ | (128,624,981 | ) | ||||||
- 13
-
TARRAGON
CORPORATION
CASH FLOW
FOR NOVEMBER 2009
|
Cash
Balance
|
Payroll
|
Intercompany
|
Cash
Balance
|
|||||||||||||||||||||
|
10/31/09
|
Receipts
|
Disbursements
|
Disbursements
|
Transfers
|
11/30/09
|
|||||||||||||||||||
|
Tarragon
Corporation
|
$ | 5,110,523 | $ | 939,591 | $ | (4,139,913 | ) | $ | (1,172,888 | ) | $ | 1,078,664 | $ | 1,815,977 | ||||||||||
|
Tarragon
Management Inc.
|
- | - | (30,503 | ) | - | 30,503 | - | |||||||||||||||||
|
Filing
entities:
|
||||||||||||||||||||||||
|
Rentals:
|
||||||||||||||||||||||||
|
Aldridge
Apartments
|
49,660 | - | - | - | (45,053 | ) | 4,607 | |||||||||||||||||
|
Stonecrest
Apartments
|
8,006 | - | - | - | (8,006 | ) | - | |||||||||||||||||
|
Orlando
Central Park
|
3,012 | - | - | - | - | 3,012 | ||||||||||||||||||
|
Bermuda
Island
|
293,031 | 303,799 | (457,105 | ) | - | (42,597 | ) | 97,128 | ||||||||||||||||
|
800
Madison
|
124,217 | 580,525 | (539,650 | ) | - | (66,490 | ) | 98,602 | ||||||||||||||||
|
Condo
developments:
|
||||||||||||||||||||||||
|
One
Hudson Park
|
1,008 | - | - | - | (1,008 | ) | - | |||||||||||||||||
|
Las
Olas River House
|
75 | - | - | - | - | 75 | ||||||||||||||||||
|
Twelve
Oaks at Fenwick Plantation
|
- | - | - | - | - | - | ||||||||||||||||||
|
Trio
West
|
- | - | - | - | - | - | ||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Land:
|
||||||||||||||||||||||||
|
Central
Square
|
75 | - | - | - | - | 75 | ||||||||||||||||||
|
Central
Park at Lee Vista
|
- | - | - | - | - | - | ||||||||||||||||||
|
Trio
East
|
- | - | - | - | - | - | ||||||||||||||||||
|
River
Oaks
|
- | - | - | - | - | - | ||||||||||||||||||
|
900
Monroe
|
- | - | - | - | - | - | ||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Non-filing
entities and eliminations
|
462,618 | 1,279,069 | (313,496 | ) | - | (946,013 | ) | 482,178 | ||||||||||||||||
|
Total
Company
|
$ | 6,052,225 | $ | 3,102,984 | $ | (5,480,667 | ) | $ | (1,172,888 | ) | $ | - | $ | 2,501,654 | ||||||||||
- 14
-
TARRAGON
CORPORATION
ROLLFORWARD
OF INTERCOMPANY ACCOUNTS
For the
Eleven Months Ended November 30, 2009
|
TARRAGON
CORP BOOKS
|
PROPERTY
LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND
LEVEL ACCOUNTS
|
PROPERTY
LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
10/31/2009
|
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED
PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Filing
Entities
|
||||||||||||||||||||||||||||||||||||||||
|
Las
Olas River House
|
$ | 16,889,527 | $ | 20,552 | $ | 0 | $ | 16,910,079 | $ | (16,892,053 | ) | $ | 0 | $ | 19,728 | $ | (16,911,782 | ) | $ | (2,526 | ) | $ | (1,703 | ) | ||||||||||||||||
|
One
Hudson Park
|
(8,914,959 | ) | 10,815 | 9,488 | (8,913,631 | ) | 8,908,163 | 9,488 | 4,019 | 8,913,632 | (6,796 | ) | 1 | |||||||||||||||||||||||||||
|
Orlando
Central Park
|
2,596,630 | 0 | 0 | 2,596,630 | (2,596,630 | ) | 0 | 0 | (2,596,630 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block
88-TRI
|
13,704,637 | 1,120 | 174,952 | 13,530,805 | (13,704,637 | ) | 174,952 | 1,120 | (13,530,805 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Twelve
Oaks at Fenwick Plantation
|
(2,574,094 | ) | 0 | 0 | (2,574,094 | ) | 2,573,445 | 0 | 0 | 2,573,445 | (649 | ) | (649 | ) | ||||||||||||||||||||||||||
|
Trio
East
|
9,438,249 | 0 | 0 | 9,438,249 | (9,438,249 | ) | 0 | 0 | (9,438,249 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Trio
West
|
41,128,628 | 783 | 0 | 41,129,411 | (41,141,485 | ) | 0 | 0 | (41,141,485 | ) | (12,857 | ) | (12,075 | ) | ||||||||||||||||||||||||||
|
Aldridge
Apartments
|
7,877,431 | 0 | 53,863 | 7,823,569 | (7,877,450 | ) | 53,863 | 0 | (7,823,588 | ) | (19 | ) | (19 | ) | ||||||||||||||||||||||||||
|
Stonecrest
Apartments
|
5,052,317 | 0 | 8,464 | 5,043,853 | (5,052,316 | ) | 8,464 | 0 | (5,043,852 | ) | 1 | 1 | ||||||||||||||||||||||||||||
|
Central
Square
|
12,746,935 | 4,695 | 0 | 12,751,630 | (12,747,485 | ) | 0 | 4,145 | (12,751,630 | ) | (550 | ) | 0 | |||||||||||||||||||||||||||
|
Orion
Towers
|
44,380,843 | 0 | 0 | 44,380,843 | (44,380,842 | ) | 0 | 0 | (44,380,842 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Bermuda
Island
|
3,690,205 | 0 | 10,710 | 3,679,495 | (3,690,205 | ) | 10,710 | 0 | (3,679,495 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
900
Monroe
|
8,006,499 | 0 | 0 | 8,006,499 | (8,004,526 | ) | 0 | 37 | (8,004,563 | ) | 1,973 | 1,936 | ||||||||||||||||||||||||||||
- 15
-
TARRAGON
CORPORATION
ROLLFORWARD
OF INTERCOMPANY ACCOUNTS
For the
Eleven Months Ended November 30, 2009
(Continued)
|
TARRAGON
CORP BOOKS
|
PROPERTY
LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND
LEVEL ACCOUNTS
|
PROPERTY
LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED
PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Non
Filing Entities
|
||||||||||||||||||||||||||||||||||||||||
|
Fund
Level
|
$ | (6,589 | ) | $ | 585 | $ | 0 | $ | (6,004 | ) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | (6,589 | ) | $ | (6,004 | ) | ||||||||||||||||
|
Topside
Property
|
653,395 | 1,426,998 | 1,525,838 | 554,554 | 0 | 0 | 0 | 0 | 653,395 | 554,554 | ||||||||||||||||||||||||||||||
|
Sold
Property Expenses
|
1,026,092 | 25 | 10,109 | 1,016,008 | (1,026,092 | ) | 10,109 | 25 | (1,016,008 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
301
Route 17 (aka Meadows)
|
(5,397 | ) | 0 | 0 | (5,397 | ) | 5,397 | 0 | 0 | 5,397 | 0 | 0 | ||||||||||||||||||||||||||||
|
Ansonia
|
56,874,306 | 8,754,388 | 7,250,019 | 58,378,675 | (15,254,130 | ) | 5,469,264 | 5,978,797 | (15,763,662 | ) | 41,620,176 | 42,615,013 | ||||||||||||||||||||||||||||
|
Ansonia
- Consolidations
|
(11,143,776 | ) | 0 | 0 | (11,143,776 | ) | 11,143,776 | 0 | 0 | 11,143,776 | 0 | 0 | ||||||||||||||||||||||||||||
|
Sold
Property Expenses For Sale Props
|
1,026,689 | 0 | 234 | 1,026,455 | (1,025,733 | ) | 234 | 0 | (1,025,499 | ) | 956 | 956 | ||||||||||||||||||||||||||||
|
Sold
Property Expenses Cont Ops
|
(150,135 | ) | 420 | 2,695 | (152,410 | ) | 150,135 | 2,695 | 420 | 152,410 | 0 | 0 | ||||||||||||||||||||||||||||
|
13th
Street Development
|
(678 | ) | 0 | 0 | (678 | ) | 0 | 0 | 0 | 0 | (678 | ) | (678 | ) | ||||||||||||||||||||||||||
|
290
Veterans
|
(660,282 | ) | 0 | 0 | (660,282 | ) | 660,282 | 0 | 0 | 660,282 | 0 | 0 | ||||||||||||||||||||||||||||
|
390
Capitol Ave.
|
2,902,330 | 0 | 184 | 2,902,146 | (2,902,330 | ) | 184 | 0 | (2,902,146 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Forest
Park Apartments
|
(716,190 | ) | 0 | 0 | (716,190 | ) | 716,190 | 0 | 0 | 716,190 | 0 | 0 | ||||||||||||||||||||||||||||
|
Uptown
Village - Commercial
|
2,593 | 0 | 0 | 2,593 | 0 | 0 | 0 | 0 | 2,593 | 2,593 | ||||||||||||||||||||||||||||||
|
Uptown
Village - For Sale
|
9,609,028 | 2,002 | 0 | 9,611,030 | (9,610,719 | ) | 0 | 1,202 | (9,611,920 | ) | (1,690 | ) | (890 | ) | ||||||||||||||||||||||||||
|
Mirabella
|
15,949,252 | 9,383 | 68,498 | 15,890,137 | (15,952,932 | ) | 76,521 | 18,590 | (15,895,000 | ) | (3,680 | ) | (4,863 | ) | ||||||||||||||||||||||||||
|
Alta
Mar
|
(4,498,652 | ) | 3,096 | 0 | (4,495,555 | ) | 4,496,727 | 0 | 0 | 4,496,727 | (1,925 | ) | 1,172 | |||||||||||||||||||||||||||
|
Cobblestone
at Eagle Harbor
|
1,331,739 | 0 | 5,267 | 1,326,473 | (1,375,085 | ) | 5,267 | 0 | (1,369,819 | ) | (43,346 | ) | (43,346 | ) | ||||||||||||||||||||||||||
|
Vintage
at the Grove
|
12,841,459 | 51,755 | 222,527 | 12,670,687 | (12,840,213 | ) | 598,125 | 448,737 | (12,690,825 | ) | 1,246 | (20,138 | ) | |||||||||||||||||||||||||||
|
Tradition
at Palm Aire
|
23,046,728 | 0 | 4,566 | 23,042,162 | (23,046,728 | ) | 4,566 | 0 | (23,042,162 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Merritt
Stratford
|
281,236 | 0 | 0 | 281,236 | (281,236 | ) | 0 | 0 | (281,236 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
The
Exchange
|
29,561,889 | 0 | 0 | 29,561,889 | (29,565,052 | ) | 0 | 0 | (29,565,052 | ) | (3,163 | ) | (3,163 | ) | ||||||||||||||||||||||||||
|
Villas
at 7 Dwarfs
|
(6,657,991 | ) | 293 | 122 | (6,657,820 | ) | 6,657,992 | 122 | 293 | 6,657,821 | 1 | 1 | ||||||||||||||||||||||||||||
|
Villa
Tuscany
|
(500,973 | ) | 0 | 0 | (500,973 | ) | 500,973 | 0 | 0 | 500,973 | 0 | 0 | ||||||||||||||||||||||||||||
|
Montreux
at Deerwood Lake
|
(3,204,435 | ) | 0 | 0 | (3,204,435 | ) | 3,204,435 | 0 | 0 | 3,204,435 | 0 | 0 | ||||||||||||||||||||||||||||
|
Vintage
at Abacoa
|
(23,438,359 | ) | 0 | 0 | (23,438,359 | ) | 23,438,359 | 0 | 0 | 23,438,359 | 0 | 0 | ||||||||||||||||||||||||||||
- 16
-
TARRAGON
CORPORATION
ROLLFORWARD
OF INTERCOMPANY ACCOUNTS
For the
Eleven Months Ended November 30, 2009
(Continued)
|
TARRAGON
CORP BOOKS
|
PROPERTY
LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND
LEVEL ACCOUNTS
|
PROPERTY
LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED
PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
1100
Adams
|
$ | (7,550,200 | ) | $ | 1,200 | $ | 0 | $ | (7,549,000 | ) | $ | 7,548,999 | $ | 0 | $ | 0 | $ | 7,548,999 | $ | (1,201 | ) | $ | (1 | ) | ||||||||||||||||
|
1118
Adams
|
4,849,525 | 44,829 | 4,892 | 4,889,463 | (4,843,200 | ) | 4,892 | 44,829 | (4,883,138 | ) | 6,325 | 6,325 | ||||||||||||||||||||||||||||
|
1118
Adams Parking, Inc.
|
92,460 | 0 | 5,750 | 86,710 | (98,590 | ) | 12,923 | 7,583 | (93,250 | ) | (6,130 | ) | (6,540 | ) | ||||||||||||||||||||||||||
|
1118
Adams Parking - Eliminations
|
(261,013 | ) | 0 | 7,583 | (268,596 | ) | 261,013 | 7,583 | 0 | 268,596 | 0 | 0 | ||||||||||||||||||||||||||||
|
20
North Water Street
|
9,722,150 | 43,835 | 0 | 9,765,985 | (9,765,985 | ) | 0 | 0 | (9,765,985 | ) | (43,835 | ) | 0 | |||||||||||||||||||||||||||
|
Southampton
Pointe
|
(2,165,594 | ) | 0 | 0 | (2,165,594 | ) | 2,165,594 | 0 | 0 | 2,165,594 | 0 | 0 | ||||||||||||||||||||||||||||
|
200
Fountain Apartment Homes
|
603,260 | 0 | 0 | 603,260 | (603,260 | ) | 0 | 0 | (603,260 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Aventerra
|
12,896 | 142,970 | 145,720 | 10,146 | (14,737 | ) | 172,768 | 156,287 | 1,744 | (1,841 | ) | 11,890 | ||||||||||||||||||||||||||||
|
River
City Landing
|
2,167,195 | 0 | 0 | 2,167,195 | (2,167,195 | ) | 0 | 0 | (2,167,195 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Desert
Winds/Silver Creek
|
(12,017,074 | ) | 0 | 0 | (12,017,074 | ) | 12,017,074 | 0 | 0 | 12,017,074 | 0 | 0 | ||||||||||||||||||||||||||||
|
Vintage
at Legacy-Phase I
|
2,694,294 | 0 | 0 | 2,694,294 | (2,694,294 | ) | 0 | 0 | (2,694,294 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Heather
Hill
|
3,249,173 | 0 | 0 | 3,249,173 | (3,249,173 | ) | 0 | 0 | (3,249,173 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
278
Main Street
|
(23,198 | ) | 0 | 0 | (23,198 | ) | 23,198 | 0 | 0 | 23,198 | 0 | 0 | ||||||||||||||||||||||||||||
|
Lofts
at the Mills
|
403,328 | 0 | 0 | 403,328 | (403,328 | ) | 0 | 0 | (403,328 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Mariner's
Point
|
4,382,156 | 0 | 0 | 4,382,156 | (4,382,156 | ) | 0 | 0 | (4,382,156 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Rutherford
- 290 Veterans
|
(106,494 | ) | 0 | 0 | (106,494 | ) | 106,494 | 0 | 0 | 106,494 | 0 | 0 | ||||||||||||||||||||||||||||
|
Block
99/102
|
(24,567,529 | ) | 0 | 0 | (24,567,529 | ) | 24,567,529 | 0 | 0 | 24,567,529 | 0 | 0 | ||||||||||||||||||||||||||||
|
Gables
Floresta
|
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
|
Northgate
|
12,934,714 | 0 | 0 | 12,934,714 | (12,934,714 | ) | 0 | 0 | (12,934,714 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Ballantrae
|
1,982,579 | 0 | 0 | 1,982,579 | (1,982,579 | ) | 0 | 0 | (1,982,579 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Merritt
8 Corporate Park
|
(1,974,843 | ) | 0 | 0 | (1,974,843 | ) | 1,974,842 | 0 | 0 | 1,974,842 | (1 | ) | (1 | ) | ||||||||||||||||||||||||||
|
Mohegan
Hill
|
53,573,767 | 1,576 | 6,660 | 53,568,683 | (53,573,783 | ) | 6,660 | 1,560 | (53,568,683 | ) | (16 | ) | 0 | |||||||||||||||||||||||||||
|
Mustang
Creek
|
(284,602 | ) | 99,452 | 127,501 | (312,651 | ) | 268,058 | 208,964 | 187,643 | 289,379 | (16,544 | ) | (23,271 | ) | ||||||||||||||||||||||||||
|
The
Hamptons
|
(4,147,877 | ) | 0 | 60 | (4,147,937 | ) | 4,147,877 | 60 | 0 | 4,147,937 | 0 | 0 | ||||||||||||||||||||||||||||
|
Woodcreek
- FL
|
(11,748,871 | ) | 152,806 | 202,302 | (11,798,366 | ) | 11,730,437 | 316,807 | 261,987 | 11,785,258 | (18,433 | ) | (13,109 | ) | ||||||||||||||||||||||||||
|
Vintage
at Plantation Bay
|
(1,042,489 | ) | 0 | 0 | (1,042,489 | ) | 1,042,489 | 0 | 0 | 1,042,489 | 0 | 0 | ||||||||||||||||||||||||||||
- 17
-
TARRAGON
CORPORATION
ROLLFORWARD
OF INTERCOMPANY ACCOUNTS
For the
Eleven Months Ended November 30, 2009
(Continued)
|
TARRAGON
CORP BOOKS
|
PROPERTY
LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND
LEVEL ACCOUNTS
|
PROPERTY
LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED
PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Oxford
Place
|
$ | (10,074,980 | ) | $ | 0 | $ | 0 | $ | (10,074,980 | ) | $ | 10,070,271 | $ | 0 | $ | 0 | $ | 10,070,271 | $ | (4,709 | ) | $ | (4,709 | ) | ||||||||||||||||
|
11
Mt Pleasant
|
18,303,252 | 953 | 0 | 18,304,205 | (18,304,205 | ) | 0 | 0 | (18,304,205 | ) | (953 | ) | 0 | |||||||||||||||||||||||||||
|
French
Villa
|
(2,852,018 | ) | 0 | 0 | (2,852,018 | ) | 2,852,018 | 0 | 0 | 2,852,018 | 0 | 0 | ||||||||||||||||||||||||||||
|
Southern
Elms
|
(1,201,462 | ) | 26,278 | 44,384 | (1,219,568 | ) | 1,203,543 | 59,587 | 43,375 | 1,219,755 | 2,080 | 187 | ||||||||||||||||||||||||||||
|
Park
Dale Gardens
|
(1,674,574 | ) | 0 | 0 | (1,674,574 | ) | 1,674,574 | 0 | 0 | 1,674,574 | 0 | 0 | ||||||||||||||||||||||||||||
|
Creekwood
Village
|
(6,897,468 | ) | 0 | 0 | (6,897,468 | ) | 6,897,468 | 0 | 0 | 6,897,468 | 0 | 0 | ||||||||||||||||||||||||||||
|
Summit
on the Lake
|
(2,478,288 | ) | 90,065 | 110,036 | (2,498,259 | ) | 2,503,496 | 113,489 | 108,041 | 2,508,944 | 25,208 | 10,685 | ||||||||||||||||||||||||||||
|
Warwick
Grove
|
(2,365,057 | ) | 0 | 0 | (2,365,057 | ) | 2,365,057 | 0 | 0 | 2,365,057 | 0 | 0 | ||||||||||||||||||||||||||||
|
Bishops
Court
|
(12,127,641 | ) | 0 | 0 | (12,127,641 | ) | 12,127,641 | 0 | 0 | 12,127,641 | 0 | 0 | ||||||||||||||||||||||||||||
|
Harbor
Green
|
(8,624,035 | ) | 0 | 3,747 | (8,627,781 | ) | 8,622,990 | 3,747 | 0 | 8,626,736 | (1,045 | ) | (1,045 | ) | ||||||||||||||||||||||||||
|
Vintage
at Madison Crossing
|
512,712 | 0 | 0 | 512,712 | (512,712 | ) | 0 | 0 | (512,712 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
The
Bordeaux
|
159,224 | 0 | 0 | 159,224 | (159,224 | ) | 0 | 0 | (159,224 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block
102 (Comm Ctr)
|
3,125,892 | 0 | 0 | 3,125,892 | (3,125,892 | ) | 0 | 0 | (3,125,892 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block
106
|
9,140,696 | 0 | 0 | 9,140,696 | (9,140,697 | ) | 0 | 121 | (9,140,818 | ) | (1 | ) | (121 | ) | ||||||||||||||||||||||||||
|
Block
114
|
1,760,858 | 0 | 0 | 1,760,858 | (1,760,858 | ) | 4,117 | 4,117 | (1,760,858 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block
104
|
(337,472 | ) | 41 | 0 | (337,431 | ) | 337,005 | 2,323 | 2,947 | 336,381 | (467 | ) | (1,051 | ) | ||||||||||||||||||||||||||
|
Block
144
|
4,368,417 | 3,000 | 0 | 4,371,417 | (4,368,417 | ) | 0 | 3,000 | (4,371,417 | ) | 1 | 1 | ||||||||||||||||||||||||||||
|
Block
112(MWH)
|
9,372,671 | 0 | 0 | 9,372,671 | (9,374,644 | ) | 0 | 0 | (9,374,644 | ) | (1,973 | ) | (1,973 | ) | ||||||||||||||||||||||||||
|
Hoboken
Cinema
|
1,490,337 | 0 | 0 | 1,490,337 | (1,490,337 | ) | 0 | 0 | (1,490,337 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Autumn
Ridge
|
(4,354,401 | ) | 84,841 | 112,791 | (4,382,351 | ) | 3,800,494 | 112,791 | 91,317 | 3,821,968 | (553,907 | ) | (560,383 | ) | ||||||||||||||||||||||||||
|
Dogwood
Hills
|
(2,002,080 | ) | 61,177 | 69,189 | (2,010,092 | ) | 1,645,982 | 69,198 | 65,507 | 1,649,673 | (356,098 | ) | (360,418 | ) | ||||||||||||||||||||||||||
|
Groton
Towers
|
(4,712,453 | ) | 126,375 | 160,526 | (4,746,603 | ) | 3,904,161 | 164,273 | 137,599 | 3,930,835 | (808,291 | ) | (815,768 | ) | ||||||||||||||||||||||||||
|
Gull
Harbor
|
(1,676,326 | ) | 57,853 | 60,605 | (1,679,079 | ) | 1,672,498 | 118,576 | 116,126 | 1,674,947 | (3,829 | ) | (4,131 | ) | ||||||||||||||||||||||||||
|
Hamden
Center
|
(2,692,136 | ) | 80,228 | 97,969 | (2,709,876 | ) | 2,212,471 | 97,969 | 86,030 | 2,224,410 | (479,665 | ) | (485,467 | ) | ||||||||||||||||||||||||||
|
Lakeview
|
(2,743,918 | ) | 79,203 | 114,047 | (2,778,761 | ) | 2,075,091 | 114,040 | 83,904 | 2,105,227 | (668,827 | ) | (673,534 | ) | ||||||||||||||||||||||||||
|
Nutmeg
Woods
|
(11,833,412 | ) | 393,977 | 473,379 | (11,912,813 | ) | 9,335,463 | 473,640 | 421,645 | 9,387,458 | (2,497,949 | ) | (2,525,356 | ) | ||||||||||||||||||||||||||
|
Ocean
Beach
|
(13,264,479 | ) | 362,734 | 448,785 | (13,350,531 | ) | 10,489,214 | 448,603 | 415,659 | 10,522,158 | (2,775,265 | ) | (2,828,373 | ) | ||||||||||||||||||||||||||
|
Parkview
|
(6,019,507 | ) | 174,750 | 228,553 | (6,073,310 | ) | 4,538,236 |
228,553
|
192,307 | 4,574,483 | (1,481,271 | ) | (1,498,828 | ) | ||||||||||||||||||||||||||
- 18
-
TARRAGON
CORPORATION
ROLLFORWARD
OF INTERCOMPANY ACCOUNTS
For the
Eleven Months Ended November 30, 2009
(Continued)
|
TARRAGON
CORP BOOKS
|
PROPERTY
LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND
LEVEL ACCOUNTS
|
PROPERTY
LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
10/31/2009
|
11/30/2009
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED
PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Sagamore
|
$ | (4,076,776 | ) | $ | 168,979 | $ | 268,330 | $ | (4,176,126 | ) | $ | 2,162,806 | $ | 269,587 | $ | 202,477 | $ | 2,229,917 | $ | (1,913,970 | ) | $ | (1,946,209 | ) | ||||||||||||||||
|
Woodcliff
|
(20,187,105 | ) | 520,930 | 682,913 | (20,349,088 | ) | 17,005,953 | 681,581 | 590,997 | 17,096,537 | (3,181,152 | ) | (3,252,551 | ) | ||||||||||||||||||||||||||
|
200
Fountain
|
1,927,025 | 154,654 | 252,673 | 1,829,006 | (3,769,701 | ) | 252,673 | 199,472 | (3,716,499 | ) | (1,842,676 | ) | (1,887,494 | ) | ||||||||||||||||||||||||||
|
278
Main
|
227,028 | 71,433 | 137,737 | 160,724 | (1,079,945 | ) | 137,837 | 78,803 | (1,020,911 | ) | (852,917 | ) | (860,187 | ) | ||||||||||||||||||||||||||
|
Club
at Danforth
|
(10,898,115 | ) | 333,521 | 357,445 | (10,922,039 | ) | 9,338,114 | 358,388 | 406,608 | 9,289,895 | (1,560,001 | ) | (1,632,144 | ) | ||||||||||||||||||||||||||
|
Forest
Park
|
(4,190,750 | ) | 163,791 | 208,779 | (4,235,738 | ) | 3,132,354 | 210,039 | 188,821 | 3,153,571 | (1,058,396 | ) | (1,082,166 | ) | ||||||||||||||||||||||||||
|
Heather
Hill
|
(25,780,610 | ) | 480,111 | 661,767 | (25,962,266 | ) | 19,379, 931 | 671,910 | 632,189 | 19,419,652 | (6,400,679 | ) | (6,542,614 | ) | ||||||||||||||||||||||||||
|
Liberty
Building
|
(6,023,841 | ) | 167,729 | 236,273 | (6,092,386 | ) | 4,805,499 | 236,577 | 206,207 | 4,835,870 | (1,218,342 | ) | (1,256,516 | ) | ||||||||||||||||||||||||||
|
Links
at Georgetown
|
(9,087,162 | ) | 376,353 | 418,241 | (9,129,051 | ) | 7,321,446 | 416,896 | 495,448 | 7,242,894 | (1,765,716 | ) | (1,886,157 | ) | ||||||||||||||||||||||||||
|
Lofts
at the Mills
|
3,536,882 | 401,509 | 519,048 | 3,419,343 | (5,891,103 | ) | 520,215 | 444,809 | (5,815,698 | ) | (2,354,221 | ) | (2,396,354 | ) | ||||||||||||||||||||||||||
|
River
City
|
(6,230,560 | ) | 287,160 | 297,487 | (6,240,888 | ) | 3,125,987 | 307,111 | 322,595 | 3,110,503 | (3,104,573 | ) | (3,130,385 | ) | ||||||||||||||||||||||||||
|
Villa
Tuscany
|
(15,972,035 | ) | 0 | 0 | (15,972,035 | ) | 15,972,034 | 0 | 0 | 15,972,034 | (1 | ) | (1 | ) | ||||||||||||||||||||||||||
|
Vintage
at Legacy
|
(4,354,004 | ) | 252,950 | 386,678 | (4,487,732 | ) | 1,617,802 | 505,515 | 474,263 | 1,649,055 | (2,736,202 | ) | (2,838,677 | ) | ||||||||||||||||||||||||||
|
Vintage
at Madison
|
(3,471,055 | ) | 169,649 | 211,564 | (3,512,970 | ) | 2,496,771 | 211,578 | 206,910 | 2,501,440 | (974,283 | ) | (1,011,530 | ) | ||||||||||||||||||||||||||
|
Vintage
at the Parke
|
(3,853,835 | ) | 255,160 | 298,204 | (3,896,880 | ) | 2,099,761 | 300,394 | 267,822 | 2,132,333 | (1,754,074 | ) | (1,764,547 | ) | ||||||||||||||||||||||||||
|
Vintage
at Plantation
|
(8,445,275 | ) | 289,577 | 283,475 | (8,439,173 | ) | 6,655,234 | 305,880 | 342,122 | 6,618,992 | (1,790,041 | ) | (1,820,181 | ) | ||||||||||||||||||||||||||
|
Mariner
Plaza
|
(4,260,662 | ) | 0 | 0 | (4,260,662 | ) | 4,260,662 | 0 | 0 | 4,260,662 | 0 | 0 | ||||||||||||||||||||||||||||
|
Midway
Mills Crossing
|
(4,361,852 | ) | 0 | 0 | (4,361,852 | ) | 4,361,852 | 0 | 0 | 4,361,852 | 0 | 0 | ||||||||||||||||||||||||||||
|
Paradigm
Loan 390 Cap Mariners Merritt S
|
1,232,085 | 0 | 0 | 1,232,085 | (1,232,085 | ) | 0 | 0 | (1,232,085 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Shortfall
Note
|
1 | 0 | 0 | 1 | (1 | ) | 0 | 0 | (1 | ) | 0 | 0 | ||||||||||||||||||||||||||||
| $ | 114,955,579 | $ | 16,408,559 | $ | 16,992,627 | $ | 114,371,511 | $ | (114,955,584 | ) | $ | 14,552,307 | $ | 13,968,239 | $ | (114,371,517 | ) | $ | (6 | ) | $ | (6 | ) | |||||||||||||||||
- 19
-
TARRAGON
CORPORATION
Cash
Reconciliation
Signature
Master
Account
XXXXXX0540
November
30, 2009
GL Acct #
13383 (Yardi 10095)
|
Bank
Balance 11/30/09
|
822,476.13 | |||
|
Add: Reconciling
Items
|
0.00 | |||
|
Less:
O/S Checks/Wires/Achs
|
0.00 | |||
|
Less:
Check charges
|
0.00 | |||
|
Add: Void
checks
|
0.00 | |||
|
Less: Misc
Diff
|
0.00 | |||
|
Book
Balance 11/30/09
|
822,476.13 |
- 20
-
TARRAGON
CORPORATION
For the
Eleven Months Ended November 30, 2009
|
Property
|
Bus
Segment
|
GA
Segment
|
Date
|
Period
|
Person
|
Control
|
Reference
|
Debit
|
Credit
|
Balance
|
Remarks
|
|||||||||||
|
10095-00
|
Cash
– Signature Master Investment
|
1,162,093.34
|
=
Beginning Balance=
|
|||||||||||||||||||
|
1000
|
1
|
6020
|
11/9/2009
|
11/2009
|
HOLLAND
& K
|
11-402
|
30000008
|
0.00
|
35,017.06
|
KOTLER/ARKO
TRANSACTIONS
|
||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4406
|
LG
|
37,141.92
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4406
|
LG
|
0.00
|
5,980.31
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4413
|
LG
|
94,734.88
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4413
|
LG
|
0.00
|
3,175,175.23
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4414
|
LG
|
18,907.34
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4414
|
LG
|
0.00
|
376,361.40
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4415
|
LG
|
103,435.39
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4415
|
LG
|
0.00
|
46,449.15
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4481
|
LG
|
131,334.58
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4481
|
LG
|
0.00
|
43,741.45
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4512
|
LG
|
13,094.96
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4512
|
LG
|
0.00
|
34,030.97
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4514
|
LG
|
9,546.00
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4514
|
LG
|
0.00
|
23,169.94
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4536
|
LG
|
204,293.34
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4536
|
LG
|
0.00
|
9,266.85
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4538
|
LG
|
77,994.37
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4538
|
LG
|
0.00
|
61,980.02
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4538
|
LG
|
35,017.06
|
0.00
|
Holland
& Knight
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4562
|
LG
|
383,758.73
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4562
|
LG
|
0.00
|
40,189.83
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4667
|
PJ
|
0.00
|
8,302.34
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4668
|
PJ
|
2,908.305
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4668
|
PJ
|
0.00
|
32,434.66
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4705
|
PJ
|
63,315.95
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4705
|
PJ
|
0.00
|
353,385.57
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4713
|
PJ
|
49,522.54
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4713
|
PJ
|
0.00
|
37,381.25
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4772
|
PJ
|
64,884.08
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4772
|
PJ
|
0.00
|
177,115.70
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4789
|
PJ
|
515,000.00
|
0.00
|
Xfer
to Tarr Signature Master
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4792
|
PJ
|
2,560.23
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4792
|
PJ
|
0.00
|
203,596.05
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4799
|
PJ
|
47,994.67
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4799
|
PJ
|
0.00
|
35,062.38
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
- 21
-
TARRAGON
CORPORATION
For the
Eleven Months Ended November 30, 2009
(Continued)
|
Property
|
Bus
Segment
|
GA
Segment
|
Date
|
Period
|
Person
|
Control
|
Reference
|
Debit
|
Credit
|
Balance
|
Remarks
|
|||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4807
|
LG
|
186,247.69
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4807
|
LG
|
0.00
|
71,183.85
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4815
|
PJ
|
0.00
|
121,231.72
|
TMI
AP DISB_DIP TMI_Signature
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4819
|
PJ
|
0.00
|
88,783.10
|
REC
Signature T/F Master
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4834
|
PJ
|
63,448.86
|
0.00
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4834
|
PJ
|
0.00
|
166,071.27
|
SIGNATURE
MASTER DEP/TSF
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4836
|
PJ
|
3,000,000.00
|
0.00
|
Xfer
from Signature MM Acct
|
|||||||||||||
|
1000
|
1
|
6001
|
11/25/2009
|
11/2009
|
J-4836
|
PJ
|
0.00
|
298,848.00
|
Rec
Pac West Disbursements Fund
|
|||||||||||||
|
822,476.13
|
=
Ending Balance =
|
|||||||||||||||||||||
|
5,105,140.89
|
5,444,758.10
|
|||||||||||||||||||||
- 22 -