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  September 5, 2001
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Home > Company Index > Real Estate > Real Estate Development > Atlantic Gulf Communities Corporation

Atlantic Gulf Communities Corporation
OTC: AGLF
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 PROFILE
The Atlantic and Gulf coasts are susceptible to hurricanes, but it's a financial hurricane that Atlantic Gulf Communities is trying to recover from. After years of losses, the Florida real estate developer filed for Chapter 11 bankruptcy in 2001 and brought in Connecticut turnaround specialist Patrick Ahern as President and CEO to reorganize the company. Since a Nasdaq delisting in 1998 and a failed effort to sell itself the next year, Atlantic Gulf has exited about a dozen projects in Florida and sold its environmental consulting subsidiary. Before the bankruptcy filing, it reached agreement with lenders to continue work on two luxury resort developments in Aspen, Colorado, and Naples, Florida.

 COMPETITION
Bluegreen Corporation (BXG)
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Stratus Properties Inc. (STRS)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 75.60
1-Yr. Sales Growth: (9.7)%
Employees: 87
Revenue per employee: $868,965.52

 KEY PEOPLE
• Patrick M. Ahern
    CEO

 CONTACT INFO
13790 NW 4th St., Ste. 113
Sunrise, FL 33325
US
Phone: 954-838-7100
Fax: -

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