Namdar Realty Group is a commercial real estate investment company that owns and operates over 200 shopping malls and other retail properties across the United States. The company has been involved in a number of lawsuits over the years, alleging a variety of wrongdoing, including:
- Neglect of properties: Namdar has been accused of failing to maintain its properties in good condition, resulting in safety hazards and decreased tenant occupancy.
- Fraudulent misrepresentation: Namdar has been accused of misrepresenting the condition of its properties to potential buyers and tenants.
- Breach of contract: Namdar has been accused of breaching contracts with tenants and contractors.
- Employment discrimination: Namdar has been accused of discriminating against employees on the basis of race, gender, and age.
One of the most notable lawsuits against Namdar was filed by ML Holdings in 2018. ML Holdings alleged that Namdar had misrepresented the condition of the DeSoto Square Mall in Jacksonville, Florida, and that the mall was worth significantly less than what ML Holdings had paid for it. The lawsuit is still ongoing.
In 2023, the DuPage County suburb of Bloomingdale, Illinois, filed a condemnation lawsuit against Namdar in an effort to take control of the Stratford Square Mall. The village alleged that Namdar had failed to maintain the mall and that it had become a blighted property. The lawsuit is also still ongoing.
Namdar has denied all of the allegations against it. The company has a history of settling lawsuits out of court, but it has also won some cases in court.
Conclusion:
Namdar Realty Group is a controversial company with a history of lawsuits. The company has been accused of a variety of wrongdoing, including neglect of properties, fraudulent misrepresentation, breach of contract, and employment discrimination. Namdar has denied all of the allegations against it, and the company has a history of settling lawsuits out of court.
FAQs:
Q: What is the most recent lawsuit against Namdar Realty Group?
A: The most recent lawsuit against Namdar Realty Group was filed by the DuPage County suburb of Bloomingdale, Illinois, in 2023. The village is suing Namdar in an effort to take control of the Stratford Square Mall, which it alleges is a blighted property.
Q: What are the allegations against Namdar Realty Group in the Stratford Square Mall lawsuit?
A: The village of Bloomingdale alleges that Namdar has failed to maintain the Stratford Square Mall and that it has become a blighted property. The village is also alleging that Namdar has failed to comply with local zoning and building codes.
Q: What is the status of the Stratford Square Mall lawsuit?
A: The Stratford Square Mall lawsuit is still ongoing. A trial date has not yet been set.
Q: Has Namdar Realty Group ever lost a lawsuit?
A: Yes, Namdar Realty Group has lost some lawsuits in court. For example, in 2017, a court ruled in favor of a tenant who sued Namdar for failing to maintain a safe and habitable property.
Q: Has Namdar Realty Group ever settled a lawsuit out of court?
A: Yes, Namdar Realty Group has settled a number of lawsuits out of court. For example, in 2018, Namdar settled a lawsuit with a group of employees who alleged that the company had discriminated against them on the basis of race and gender.
Q: What is the future of Namdar Realty Group?
A: The future of Namdar Realty Group is uncertain. The company is facing a number of lawsuits and is facing increasing competition from online retailers. It is possible that Namdar will be forced to sell some of its properties or even go out of business.
References:
- Namdar Realty Group Plows Forward as Mall Properties Decay: https://therealdeal.com/magazine/national-january-2021/mall-machine/
- Suburb Sues Namdar for Control of Stratford Square Mall: https://therealdeal.com/chicago/2023/05/22/bloomingdale-sues-namdar-to-obtain-stratford-square-mall/
