Terracotta Credit Reit, LLC v. PR Retail Investors, LLC
Opinion
trial_court Opinion
I. BACKGROUND
On November 6, 2023, Plaintiff commenced this action in Los Angeles County Superior Court alleging claims of misrepresentation, breach of contract, and declaratory relief. (Complaint (Docket No. 3-4)). Defendants removed this action on ______________________________________________________________________________
CENTRAL DISTRICT OF CALIFORNIA
CIVIL MINUTES—GENERAL
Case No. CV 24-13-MWF (SKx) Date: March 26, 2024 Title: Terracotta Credit Reit, LLC v. PR Retail Investors, LLC, et al. January 2, 2024, based on this Court’s diversity jurisdiction. (Notice of Removal (Docket No. 3) ¶ 2). Plaintiff’s claims arise from six loans that Plaintiff made with respect to real estate properties in Tacoma, Washington. (Id. ¶¶ 11–17). Although Defendants are not the borrowers on the loans, they had certain obligations under ancillary written agreements related to the loans, including six Commercial Guaranty Agreements and three Hazardous Substances Certificate and Indemnity (“HSCI”) Agreements (collectively “the Loan Documents”). (Id. ¶¶ 12, 16; Motion at 2). Each of the Loan Documents attached to the Complaint include a forum- selection…