Daymark Living, 818 Cantrell St., Waxahachie, Texas. Credit: Google How We Won a $7.9 Million Arbitration Award: Construction Litigator Talks Shop
The case carries a warning for integrated real estate companies that set up special purpose entities for their construction projects.
October 22, 2020 at 07:51 PM
4 minute read
A real estate investor in an independent living facility in Texas has won a $7.9 million arbitration award against a construction company that delivered a project 179 days late.
The case should serve as a warning bell for integrated developer-owner-contractor companies that set up a "special purpose entity" for their development projects, said Benton Wheatley, partner in Duane Morris in Austin, who represented plaintiff Montgomery Street Partners.
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