The current managing director of Chicago-based Up Campus Properties, Nishant Bakaya, has filed suit against his former employer, CA Ventures, claiming he is owed $6 million USD. Both Up Campus Properties and CA Ventures specialize in the PBSH arena.
The Real Deal in NYC reports that CA Ventures was to pay Bakaya $150,000 monthly but has yet to receive two payments. According to the TRD story, CA Ventures entered a forbearance and cured the delinquency.
CA Ventures’s former COO, J.J. Smith, recently sued various CA Ventures affiliates over back payments.
Nishant Bakaya filed the suit in Cook County court last week.
TRD reports that CA Ventures is working through through litigation on several matters.
Attorneys for Bakaya and Scott declined to comment to the TRD.
The SHURE Initiative spoke to Bayaka on Monday. He declined to comment.