As an update to my November 13th post about Transeastern Homebuilder's Owners' woes, parent company Technical Olympic USA is now fighting law suits regarding the acquisition of Transeastern homes. One suit alleges TOUSA violated the Securities and Exchange Act of 1935. The press release on TOUSA's website denies this. With a loss of over $143 million in the first nine months of 2006, the joint venture has been strongly criticized by stockholders.
Transeastern is known in New Tampa for its homes in Live Oak, and the Hammocks; and also for homes in the Tampa Golf & Country Club in San Antonio off of S.R. 52.
Showing posts with label Transeastern. Show all posts
Showing posts with label Transeastern. Show all posts
Thursday, December 21, 2006
Monday, November 13, 2006
Bank calls back loan to Homebuilder Transeastern
The Deutsche Bank Trust Company America, is asking Technical Olympic USA (TOUSA), owner of Transeastern as part of a joint venture to repay money it borrowed last year to buy Transeastern.
The Tampa Tribune further reports that it is reported that Transeastern has stopped offering lots in its Live Oak development in New Tampa. Transeastern's other developments in the area include the Hammocks in New Tampa, and Tampa Bay Golf & Country Club in San Antonio, (Pasco County).
The Tribune further reports that Transeastern laid off 130 workers in September.
The Tampa Tribune further reports that it is reported that Transeastern has stopped offering lots in its Live Oak development in New Tampa. Transeastern's other developments in the area include the Hammocks in New Tampa, and Tampa Bay Golf & Country Club in San Antonio, (Pasco County).
The Tribune further reports that Transeastern laid off 130 workers in September.
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