Guadalupe-Real Propery etc. v. Pegasus Investments etc. CA2/8

Filed 5/12/25 Guadalupe–Real Propery etc. v. Pegasus Investments etc. CA2/8 NOT TO BE PUBLISHED IN THE OFFICIAL REPORTS

California Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). This opinion has not been certified for publication or ordered published for purposes of rule 8.1115.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION EIGHT

GUADALUPE–REAL B326984, B328611 PROPERTY & INVESTMENTS, LLC, Los Angeles County Super. Ct. No. 21SMCV00133 Plaintiff and Appellant,

v.

PEGASUS INVESTMENTS REAL ESTATE ADVISORY, INC.,

Defendant and Respondent.

APPEAL from a judgment of the Superior Court of Los Angeles County, Elaine W. Mandel, Judge. Affirmed. Law Offices of Ashton Watkins and Ashton R. Watkins for Plaintiff and Appellant. Dickinson Wright and Bennett E. Cooper for Defendants and Respondents.

____________________ Guadalupe-Real Property & Investments, LLC sued Pegasus Investments Real Estate Advisory, Inc. Pegasus moved for summary judgment. Guadalupe then moved to amend its complaint to add an additional plaintiff, its principal Ben Samouha. The trial court denied the motion for leave to amend the complaint and granted the motion for summary judgment. It also granted discovery sanctions to Pegasus. Guadalupe appeals these three adverse rulings. We affirm. I We recount the pertinent background, providing additional details as relevant in our analysis below. Samouha sold a property through a 1031 exchange, a mechanism by which a seller can defer taxes or gains from a sale by using the proceeds for acquisition of another property. (CADC/RADC Venture 2011-1 LLC v. Bradley (2015) 235 Cal.App.4th 775, 780.) Samouha engaged Pegasus to advise and represent him in connection with selecting and purchasing a commercial property. Samouha and Pegasus signed an Exclusive Buyer Representation Agreement (the Broker’s Agreement). Pegasus ultimately recommended purchase of Guadalupe Station, a strip mall in San Marcos, Texas. After a report about the condition of the property, Samouha had some concerns. Pegasus reassured him that the problems were not serious and could be easily remedied. Samouha went through with the purchase. He signed a Purchase Agreement with the seller. He later signed the First, Second, and Third Amendments to the Purchase Agreement. Pegasus advised Samouha to create a limited liability corporation to hold title to the property. Samouha formed