CHM Unit Lodges $12M Contract Suit Over Newark Hotel

Law360, New York (August 23, 2012, 6:07 PM EDT) -- New Jersey real estate company CHM Partners Investment LLC filed a $12.2 million breach of contracts suit in federal court Tuesday against the owner of a hotel near Newark Liberty International Airport, accusing the owner of violating the terms of a purchase and sale agreement.

CHM Partners, a hotel acquisition business unit of Beverly, Mass.-based Capital Hotel Management LLC, claimed that Ratan Realty LLC failed to provide due diligence materials as required by an April 9 agreement for CHM Partners to acquire the Hampton Inn-flagged hotel...
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