Defense seeks change of venue in dispute over real estate sale

John Suayan, Galveston Bureau Jul. 25, 2011, 9:15am

GALVESTON - Prime Income Asset Management recently entered its original answer and motion to transfer venue a month after it was sued over the sale of a Galveston apartment complex.

In a 10-page document filed July 12 in Galveston County Court at Law No. 3, Prime Asset argues that the suit by Marcus & Millichap Real Estate Investment Services of Texas against it should be heard in a Dallas County courtroom.

The respondent is accused in a lawsuit filed last June 8 of withholding Marcus & Millichap's 50 percent commission arising from the $13.7 million sale of the Marina Landing Resort Apartments to Odyssey Residential Holdings.

The plaintiff says Prime Asset's refusal to award it $65,000 at the time of the sale's closing violates a simple fee agreement and buyer registration which both parties entered in November 2008.

The apartments were sold last Jan. 31.

Prime Asset insists the case must be deliberated in Dallas County because that is the location of the signing of the agreement and subsequent closing.

The subject property is in Galveston County, but the litigation is not centered on land, the motion says.

It also formally denies Marcus & Millichap's allegations and requests disclosures.

Prime Asset is represented by The Law Offices of Mitchell Madden.

Cause No. 65,437

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