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Related Cos., a New York real estate company, was sued by Hypo Real Estate Capital Corp., which is seeking to recover more than $194 million tied to a loan for a ski-resort project in Colorado.
Related owes the money under a guaranty agreement after an affiliate defaulted on a $520.4 million loan to the project in Snowmass Village, Hypo said in its complaint filed Friday in New York State Supreme Court.
The Related affiliate defaulted on the loan and owes $386 million in principal, Hypo said.
Hypo is seeking $194.7 million plus interest and expenses, according to the complaint.
Bloomberg News
