Tarragon finalizes standstill agreement with note holders

Client(s) Tarragon Corporation

Jones Day advised Tarragon Corporation, a real estate developer, owner, and manager, in connection with the standstill agreement from the holders of $125 million of corporate-level unsecured subordinated notes, together with an option to purchase the subordinated notes at a discount, in exchange for a subordination agreement with executives of Tarragon that hold approximately $37 million of outstanding promissory notes and the related issuance of warrants.