Local Law Firms Home > Real Estate Law News > $14.5 Million Real Estate Lawsuit in Texas Settles Recently, state District Judge Melody Wilkinson signed an order of dismissal stating the settlement between Columbus, Ohio-based developer SEG of Ohio Inc., previously known as Steiner + Associates Inc., and defendant Tom Hicks, of Dallas, and other units he was in charge of. Specifics of the settlement were not revealed. According to the claim, Steiner was approached in 2004 to assist develop the areas surrounding the suburban baseball park. In October 2004, the Cowboys made an agreement with the Rangers involving the development of their new football stadium, its parking facilities that are nearby the Rangers ballpark and real estate around the ballpark, with Steiner working on a main plan. Steiner claimed that for over a year, it and Steiner-owned subsidiary Arlingtonpar LLC contributed over $6 million in cash and $6 million in development services to the agreement and asked BRE to enter into a definitive partnership contract, only to be told "not to worry." In May 2008, Hicks suddenly announced the Glorypark project would be postponed. "This announcement was made by Hicks Holdings LLC without any input from Steiner or Arlingtonpar as to the decision or the content of the press release announcing the decision," according to the claim. "Prior to making the announcement, Hicks Holdings LLC began discussions with a competitor of Steiner and Arlingtonpar to develop the land. These discussions occurred without Arlingtonpar's or Steiner's consent or knowledge."
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