Kramer Levin Office Sign Kramer Levin Secures Dismissal in Alleged 'Loan-to-Own' Scheme for Multi-Billion-Dollar Development
U.S. District Judge Lewis J. Liman rejected claims by a group of developers who said that the firm, Gamma Real Estate Capital, leveraged an $82 million bridge loan to seize control of the $550 million property.
March 07, 2022 at 05:55 PM
4 minute read
Lawyers from Kramer Levin Naftalis & Frankel have secured the dismissal of all 17 counts in a sprawling lender liability suit that accused a Georgia-based real estate firm of executing an illegal "loan-to-own" scheme involving a valuable piece of land on Dallas' "$5 Billion Mile."
The March 4 decision, from U.S. District Judge Lewis J. Liman of the Southern District of New York, rejected claims by a group of developers, who said that the firm, Gamma Real Estate Capital, leveraged an $82 million bridge loan to seize control of the $550 million property.
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