Hope 7 Monroe Street Ltd. Partnership v. Riaso L.L.C.
District Court, District of Columbia
1Opinion of the Court
MEMORANDUM OPINION
JAMES E. BOASBERG, District Judge.
Hope 7 Monroe Street Limited Partnership (“Monroe”) owned property in the District of Columbia that it wished to convert from apartment units to condominiums. A man named Musse Leakemariam brokered a $1.6 million “bridge loan” from RIASO L.L.C. to provide Monroe with temporary financing. Although Leakem-ariam promised to assist Monroe in finding permanent financing before the expiration of the bridge loan’s term, he failed to do so, and Monroe, apparently unable to secure additional financing, defaulted on the loan from RIASO. It…
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