Caley Investments I v. Lowe Family Associates, Ltd.

BABCOCK, Judge.

Defendants, Ronald J. Lowe (Lowe) and Lowe Family Associates, Ltd. (LFA), appeal the trial court’s dismissal of defendants’ fourth counterclaim. We affirm.

Plaintiffs, Caley Investments I and Caley Investments II (Caley partnerships), two limited partnerships investing in real property, brought suit against Lowe and LFA for claims unrelated tp this appeal. Third-party defendant Bill L. Walters (Walters) is the general partner and Lowe and LFA are limited partners of the Caley partnerships.

Prior to Lowe and LFA’s investment in the Caley partnerships, Walters, allegedly acting on…