HEDGEMON REAL LLC vs Motion to Strike Plaintiff's Doe
CVRI2200106
BALCOR LLC Amendments #1 & #2
Tentative Ruling:
Plaintiff Hedgemon Real, LLC filed this lawsuit against defendants Sam Ostayan and
Balcor, LLC (collectively “Balcor”) for cancelling a purchase and sale agreement dated August
30, 2021 for property located at 11325 Magnolia Avenue in Riverside, that Plaintiff intended buy
and develop as a 40+unit multi-family complex. Plaintiff alleges that as a result of Balcor’s breach,
it lost over $82,000 that it expended in pre-development expenses and lost profits in excess of
$4.82 million.
On January 10, 2022, Plaintiff filed the original complaint alleging contract and fraud
related claims against Balcor. In February 2022, Balcor sold the subject property to another buyer,
Cook Capital Fund, who assigned the sales contract to Reed Street LLC, which later changed its
name to Pacific Homes at Magnolia, LLC (collectively here
Hearing Date
May 02, 2024
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HEDGEMON REAL LLC vs Motion to Strike Plaintiff's Doe
CVRI2200106
BALCOR LLC Amendments #1 & #2
Tentative Ruling:
Plaintiff Hedgemon Real, LLC filed this lawsuit against defendants Sam Ostayan and
Balcor, LLC (collectively “Balcor”) for cancelling a purchase and sale agreement dated August
30, 2021 for property located at 11325 Magnolia Avenue in Riverside, that Plaintiff intended buy
and develop as a 40+unit multi-family complex. Plaintiff alleges that as a result of Balcor’s breach,
it lost over $82,000 that it expended in pre-development expenses and lost profits in excess of
$4.82 million.
On January 10, 2022, Plaintiff filed the original complaint alleging contract and fraud
related claims against Balcor. In February 2022, Balcor sold the subject property to another buyer,
Cook Capital Fund, who assigned the sales contract to Reed Street LLC, which later changed its
name to Pacific Homes at Magnolia, LLC (collectively here