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  5. 592 F.Supp. 1097 (1984)
 

TEACHERS INS. & ANNUITY ASS'N OF AMERICA v. BUTLER

No. 84 Civ. 3211.

592 F.Supp. 1097 (1984)

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, Plaintiff, v. David L. BUTLER, James L. Grauer, James E. Kassis, and One City Centre Associates, a California Limited Partnership, Defendants.

United States District Court, S.D. New York.

August 23, 1984.

Attorney(s) appearing for the Case

Fried, Frank, Harris, Shriver & Jacobson, New York City, for plaintiff; Robert E. Gerber, New York City, Jerry P. Sattin, of counsel.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendants; Mark A. Belnick, Colleen McMahon, New York City, Martha A. Geer, of counsel.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiff, Teachers Insurance and Annuity Association of America ("Teachers"), is a New York nonprofit corporation which provides annuities and insurance programs to colleges, independent schools and other educational institutions, and derives income for such programs from long term loans on commercial properties and real estate investments.

The defendant, One City Centre Associates ("OCCA"), is a California...

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