EDWARDS, Colo., Jan. 25, 2017 /PRNewswire/ -- Members of a 500+ home retirement community in Edwards, Colorado have filed an application in Federal court for an injunction that would prevent a Dallas real estate group from selling the community's lodge and spa to the operator of a high-end, for-profit addiction treatment center.
Failing an injunction, the homeowners seek more than $100 million in damages from the Behringer Harvard REIT Fund I if the sale goes through. They claim that Behringer was granted a zoning change on a fraudulent basis in 2009 and, since then, has allowed the lodge to deteriorate, with the intention of selling it.
"This is just wrong," says homeowner Jane Wilner. "They promised us in 2009 that no substantial changes would be made to the uses of the Lodge. Now they're violating that promise and taking away the social center of our community. The Lodge and Spa at Cordillera was one of the reasons many of us bought homes here. It offers lodging, dining, a spa and gym, and a separate golf clubhouse and restaurant. It is vital to our property values, as well as to the daily pleasure that we have worked all of our lives to be able to enjoy."
The lawsuit alleges that if the lodge were sold to Concerted Care Group of Baltimore, which charges inpatients some $60,000 per month, Cordillera property values would decline by 30 to 50 percent.
"I don't understand," said homeowner Greg Murphy. "Behringer Harvard has been offered the same deal by someone who wants to improve and run the Lodge. So, why don't they just avoid this conflict and liability?"
The class action suit has been filed by Potomac Law Group, PLLC.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cordillera-retirees-seek-injunction-to-preserve-their-lodge-300396666.html
SOURCE Potomac Law Group, PLLC