REIT Sues Real Estate Firm Over $2M Hotel Deposit

Law360, New York (May 17, 2012, 4:51 PM EDT) -- A Connecticut-based real estate investment trust sued a Virginia-based real estate advisory firm last week, demanding that the firm return nearly $2 million it received as an escrow deposit for an uncompleted purchase of a loan for a San Francisco hotel.

The REIT, HEI Hospitality Fund Acquisition III LLC, claims that the defendant, Molinaro Koger Inc., refuses to relinquish the funds after a potential hotel transaction was never completed, according to a complaint filed May 10 in Virginia federal court. The $2 million was to be...
To view the full article, register now.




Case Information

Case Title

HEI Hospitality Fund Acquisition III, LLC v. Molinaro Koger, Inc. et al

Case Number



Virginia Eastern

Nature of Suit

Contract: Other


Liam O'Grady

Date Filed

May 9, 2012


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.