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Thursday, May 16, 2024 | Back issues
Courthouse News Service Courthouse News Service

Hillcrest IV LLC|v. CBRE Inc. fka CB Richard Ellis Inc.

Hillcrest says CB Richard Ellis issued an appraisal that grossly overvalued the Lake Las Vegas residential and resort development in Nevada, leading to $250 million in investments. But when the borrowers defaulted, the investors say they ended up holding the bag on hundreds of millions of dollars in losses.

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