Article: Tarragon Realty Investors Announces Sale of Two Properties And 10 Percent Common Stock Dividend.

NEW YORK -- Tarragon Realty Investors Inc , a growth-oriented, fully integrated property development investment, management company, today announced the closing of the sale of Collegewood Apartments in Tallahassee, Florida for $5.35 million and the sale by Tarragon's 70 percent owned affiliate, Ansonia Apartments, LLC, of Meriden East Apartments, located in Meriden, Connecticut for $3.2 million. Tarragon expects to recognize a gain of about $2.5 million from the sale of Collegewood and $750 thousand from the sale of Meriden.

The Company also announced a 10 percent stock dividend on its common shares, to be distributed on April 26, 2002 to shareholders of record ...

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