Tuesday was a popular day for airing real estate grievances in Davidson County Chancery Court.
Ned Horton, of the Horton Group marketing agency, filed suit against the local arm of real estate group Colliers International after a deal between the two fell through.
The Horton Group had planned to lease purchase property at 2504 Franklin Pike, south of Craighead Street, earlier this year. Horton officials claim they negotiated specific terms to purchase the property. They even offered a job to a new employee and relocated equipment to Nashville. But when Colliers broker Charlotte Ford got back from vacation in early June, she said the sellers had received a better offer, according to the lawsuit.
Colliers offered Horton a chance to outbid the new prospective buyers. Instead, Horton filed suit. The lawsuit also claims that the deal with the new buyers included many “creative deal terms” proposed by Horton.
Horton alleges that Colliers and its brokers didn't comply with state real estate law that requires brokers to provide services with “good faith and honesty.” The lawsuit — download it here — demands compensatory and punitive damages to be determined at trial. A call to a Colliers spokesman Wednesday was not immediately returned.
Horton Group is an interactive advertising agency that earlier this year moved its base downtown. Horton also owns real estate under Horton Properties.
In another case filed on Tuesday, Sun Life Insurance entered into an agreement to lease an airport-area office to Windsor Management Services, an upscale hotel operator.
The two parties entered into a letter of intent in the summer of 2011 for California-based Windsor to move into office space at 811 Royal Parkway (pictured) according to the lawsuit. Sun Life took the property off the market once the agreement was reached.
However, the two parties hit a snag when it came to deciding on “tenant improvements” to the space. Windsor had been hoping to operate 24 hours a day at the office, which created several delays related to the construction work being done on site. By this spring, Windsor told Sun Life that it considered the lease agreement terminated — after the insurer had spent more than $600,000 to prepare the property.
Sun Life alleges that both Windsor and its brokers at Eakin Partners committed a breach of contract. The lawsuit — view it here — asks that Windsor pay back the $600,000 and demands reimbursement of a $56,324 payment to Eakin.
Windsor officials could not be reached Wednesday. NashvillePost.com will update this story if more information becomes available.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS