» Golf Course Owner Sued For Monopolization of Housing Market

Golf Course Owner Sued For Monopolization of Housing Market

The owner of a housing development adjacent to a golf course outside of Austin has filed a lawsuit against the owners of the course and another development, making various claims including monopolization and interference.

Reserve at Summit Rock, LP is the owner of Golden Bear Reserve, adjacent to the Summit Rock Golf Course in Horseshoe Bay, Texas. The company sued Summit Rock Communities LLC and Horseshoe Bay Resort, the owner of the golf course and the nearby Summit Rock development.

According to allegations in the lawsuit, Douglas Jaffe, Jr., Chairman of Horseshoe Bay Resort, and Douglas Jaffe III, its CEO, engaged in wrongful conduct to the detriment of the plaintiff, including tortious interference with contract, monopolization and conspiracy. The petition demands not less than $5,850,000 in damages.

The plaintiff claims that defendants directed security guards and other workers to steer potential home buyers away from plaintiff’s development, and that defendants were responsible for taking down plaintiff’s signs advertising open houses and homes for sale. In addition, plaintiff claims that defendants gained an unfair advantage in the local housing market through an unusual relationship with their lender, the International Bank of Commerce (IBOC). In addition, the defendants are alleged to have taken action to have the Public Improvement District reformatted for their benefit and to plaintiff’s detriment.

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