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LSREF2 CLOVER PROPERTY 4, LLC v. FESTIVAL RETAIL FUND 1, LP

No. B259937.

3 Cal.App.5th 1067 (2016)

LSREF2 CLOVER PROPERTY 4, LLC, Plaintiff and Appellant, v. FESTIVAL RETAIL FUND 1, LP, Defendant and Respondent.

Court of Appeals of California, Second District, Division Two.

As modified October 6, 2016.

Attorney(s) appearing for the Case

Ronald W. Stevens ; K&L Gates, Kevin S. Asfour , Christina N. Goodrich and Rebecca Liu for Plaintiff and Appellant.

Bryan Cave and Joseph J. Poppen for California Bankers as Amicus Curiae on behalf of Plaintiff and Appellant.

Lurie, Zepeda, Schmalz, Hogan & Martin, Bruce J. Lurie , Troy L. Martin and James J. Finsten for Defendant and Respondent.

OPINION

Defendant and respondent Festival Retail Fund 1, LP (Festival Fund), guaranteed a loan made to an affiliate in connection with the purchase of a retail property. Following default on the loan and a nonjudicial foreclosure, plaintiff and appellant LSREF2 Clover Property 4, LLC (Clover), sought to enforce the...

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