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  5. 626 F.Supp. 1229 (1986)
 

TEACHERS INS. & ANNUITY ASS'N OF AMERICA v. BUTLER

No. 84 Civ. 3211 (EW).

626 F.Supp. 1229 (1986)

TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA, Plaintiff, v. David L. BUTLER, James L. Grauer, James E. Kassis, and One City Centre Associates, a California Limited Partnership, Defendants.

United States District Court, S.D. New York.

January 28, 1986.

Attorney(s) appearing for the Case

Fried, Frank, Harris, Shriver & Jacobson, New York City, for plaintiff; Robert E. Gerber, Mary Farrington, of counsel.

Willkie Farr & Gallagher, New York City, for defendants; Francis J. Menton, J. Kelly Strader, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiff, Teachers Insurance and Annuity Association of America ("Teachers"), is a New York nonprofit corporation which provides annuities and insurance programs to colleges, independent schools and other educational institutions, and derives income for such programs from various investments, including long-term loans on commercial real estate.

The defendant, One City Centre Associates ("OCCA"), is a California...

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