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INVESTORS TAX, ETC. v. LAVENTHOL, ETC.

No. 78-95.

370 So.2d 815 (1979)

INVESTORS TAX SHELTERED REAL ESTATE, LTD., etc., aPPELLANT, v. LAVENTHOL, KREKSTEIN, HORWATH & HORWATH, Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied June 1, 1979.

Attorney(s) appearing for the Case

Bailey & Dawes and Guy B. Bailey, Jr., Miami, for appellant.

Fowler, White, Burnett, Hurley, Banick & Knight and Richard S. Banick; Turner & Ashe, Miami, for appellee.

Before HENDRY, HUBBART and KEHOE, JJ.

PER CURIAM.

In November of 1972, appellant, Investors Tax Sheltered Real Estate, Ltd. entered into a sale/leaseback transaction whereby it purchased an apartment complex in Dallas, Texas from U.S. Capital Corporation, a wholly-owned subsidiary of Hallmark Group Companies, Inc., a New York corporation; simultaneously, the complex was leased back to U.S. Capital to operate and to pay Investors in excess of $2.5 million, payable in monthly installments. Both U.S. Capital...

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