Lawndale Restoration Ltd. Partnership ex rel. Boulevard Realty Services Corp. v. United States

MEMORANDUM OPINION AND FINAL ORDER

BRADEN, Judge.

I. RELEVANT FACTS.1

In 1974, the Department of Housing and Urban Development (“HUD”) authorized Restoration Investors, L.P. (“Restoration Investors”), through its general partner Py-ramidwest Realty and Management, Inc. (“Pyramidwest”), to manage a number of apartments for lower-income families that were owned by HUD in Chicago. Compl. ¶ 19. Restoration Investors and Pyramid-west successfully managed these properties until 1980. Id.

In 1980, Restoration Investors purchased the apartments that it previously managed, together with an additional 308…