The Docket: Real estate lawsuit roundup for 3.25.21

Arapahoe District Court

Inverness Tech I, Ltd. v. AQ Blueprint Intermediate Holdings II, Inc.; and FV Holdings, LLC d/b/a Madsky Managed Repair Program, LLC

Plaintiff says defendant leased premises at 365 Inverness Parkway, Englewood, beginning Aug. 1, 2018 and ending Nov. 30, 2023, for a monthly base rent of $17,004.93, and has failed to pay monthly obligations due and owing for December 2020 and January-March 2021. Plaintiff seeks damages of no less than $102,760.22.

Attorneys: Alan C. Schindler of Timmins LLC

Filed: 3/16/2021


Denver District Court

CD Market LLC v. Texas Fabco Solutions, Inc.

Plaintiff says defendant leased property at 2215 Market St., Denver, for a term from May 1, 2019 to April 30, 2021, and on/about Dec. 15, 2019, abandoned the premises and has failed to pay rent since Jan. 1, 2020. Plaintiff says it is due the principal sum of $140,662.50 for rent, and $27,037.27 for common area maintenance expenses.

Attorneys: Erica A. Jacobson and Jason B. Robinson of Fairfield and Woods

Filed: 3/9/2021


Denver Regional Investment Properties, LLC v. Fit 36, LLC and Sheryl A. Langley

Plaintiff says defendant has breached a lease for 2,690 square feet in Highlands Place Retail shopping center, Denver, that commenced Feb. 1, 2016, for a 5-year period with rent and CAM expenses totaling $7,078.16 per month. Defendant has failed to pay for several months, plaintiff says, and has a balance due of $64,323.15.

Attorneys: David C. Fawley of Allman, Mitzner & Fawley

Filed: 3/11/2021


NGC Development, LLC and Avid Hunter, LTD v. Drake Asset Management, LLC; Perry Radic; and Jon Hauser

Plaintiffs allege defendants mismanaged millions of dollars of NGC’s real estate and cash, causing plaintiff to lose over $2 million in cash and title to real property valued at $7 million due to unpaid real estate taxes. Plaintiff says NGC was formed June 11, 2010, for the purpose of  holding title to U.S. real estate, and on Nov. 18, 2010, purchased Northgate Shopping Center for $8 million, paying $6 million upfront and the remaining $2 million in scheduled payments, which were fully paid, and on/about Nov. 28, 2010, entered into a property management agreement with PRA Real Estate Services, with Radic and Hauser as members, and which changed its name to Drake Asset Management on Feb. 28, 2011. Plaintiffs allege defendants breached fiduciary duties in numerous ways, including inappropriate disbursement and transfer of funds, and failing to: use reasonable care and diligence; make inquiry; follow terms of the management contract, misappropriating NGC’s money in the shopping center; ensure the property taxes on parcel 2, which was mostly undeveloped, were paid; and place controls over accounts.

Attorneys: Brandee L. Caswell and Carla R. Martin of Faegre Drinker Biddle & Reath

Filed: 3/19/2021


Jefferson District Court

Stearns Bank, N.A. Equipment Finance Division v. Ange De La Mer Salon, Inc. and Phyllis Phillips

Plaintiff says defendant on/about Jan. 15, 2019, entered into an agreement to finance the purchase of an energy replenishment and tissue restoration treatment system, and was obligated to make 60 consecutive monthly payments of $1,487.59, totaling $89,255.40. Plaintiff says the unpaid balance amounts to $80,647.28, and also seeks possession of the equipment.

Attorneys: Michael A. Valenti of Valenti Hanley

Filed: 3/22/2021


Larimer District Court 

Pawnee Leasing Corporation v. Safekeep Maintenance, Inc.; Justin Turrentine; Christopher D. Hollis a/k/a Chris Hollis; and Monique Hollis

Plaintiff says on/about April 27, 2020, it entered an agreement to lease Safekeep various items of equipment for 55 monthly payments of $1,678.83, and defendant had failed to pay. Plaintiff seeks damages of $96,864.68 and costs of repossession.

Attorneys: Harry L. Simon

Filed: 3/16/2021


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