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KB Home sues investment firm

June 06, 2008|From Times Wire Services

Builder KB Home sued MacFarlane Partners, saying the real estate investment firm failed to contribute about $52 million toward the development of three condominium complexes, according to court papers.

KB Home in Westwood and MacFarlane had agreed to share the construction bill for the complexes in Anaheim, Irvine and the San Fernando Valley, but ceased payments in late 2007, according to the Los Angeles Superior Court lawsuit.

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