AG Beaumont 1, LLC v. LSREF2 Oreo (Direct)

DAVIS, Chief Judge.

The several Beaumont LLCs collectively challenge the final summary judgment of foreclosure entered by the trial court in favor of LSREF2 Oreo (Direct), LLC (herein referred to as “the Bank”).1 Because there remains a disputed issue of material fact, we reverse the final summary judgment and remand for further proceedings.

On February 12, 2004, Bank of America made a loan to Adler Group Beaumont Investors, LLC, in the amount of $16.8 million. The proceeds were used to secure a commercial complex consisting of eleven office buildings. Adler executed a mortgage on the complex…