Commercial
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January 29, 2025
Experts Expect Tweaks, Not Teardown, For Renewable Credits
A Trump administration order to pause "green new deal" programs shouldn't halt tax credits for renewable power overnight, legal experts say, even if those programs and others within the 2022 Inflation Reduction Act could face fresh scrutiny.
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January 29, 2025
SEC Says PE Firm Defrauded Investors In $1B Fund
The U.S. Securities and Exchange Commission sued a private equity firm in Florida federal court Wednesday, alleging that it defrauded investors in a $1 billion fund by, among other things, falsely promising to segregate their assets and by transferring tens of millions of dollars into bank accounts held by the fund's leading executives.
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January 29, 2025
$17M Punitive Award Reversed In Miami Hotel's Noise Suit
A Florida state appeals court on Wednesday upheld sanctions against the owner of two Miami Beach hotels for committing fraud on the court in a commercial landlord-tenant dispute, but the court threw out a $17.4 million punitive damages award and ordered a new trial on that issue.
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January 29, 2025
Senate Banking Committee Forms NFIP Working Group
With the National Flood Insurance Program's authorization set to expire in March, the U.S. Senate Committee on Banking has formed a working group to reform the program and work toward long-term reauthorization, a press release from committee chairman and South Carolina Republican Sen. Tim Scott said.
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January 29, 2025
NYC Seeks Bids For 'Ambitious' Manhattan Redevelopment
New York City is seeking bids to redevelop the 66,000-square-foot Gansevoort Square area in Manhattan, and bidders have until April 30 to make their pitches, the mayor's office announced Wednesday.
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January 29, 2025
Polsinelli Guides $135M Loan Deal For Ex-Pfizer NYC HQ
Northwind Group, guided by Polsinelli PC, loaned $135 million for a 33-story midtown Manhattan office tower that used to be part of Pfizer's New York City headquarters and will be converted into a residential property, the real estate private equity firm announced Wednesday.
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January 29, 2025
Cooper Union Prevails In Dispute Over Chrysler Building
Cooper Union's response to pro-Palestinian protests on campus does not amount to a breach of contract with the ground leaseholder of the Chrysler Building, which is owned by the university, despite allegations that the college's actions led subtenants to bail, a New York state court judge found Wednesday.
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January 29, 2025
Historic Texas Hotel Nets $79M Construction Loan
The developer of El Tropicano Hotel has closed a $79 million construction loan as it works on overhauling the historic San Antonio, Texas, landmark.
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January 29, 2025
Real Estate Group Of The Year: DLA Piper
The real estate team at DLA Piper over the past year has shepherded deals on matters ranging from massive, billion-dollar data centers to inner city mixed-use projects and what's been widely reported as the largest private real estate development in the United States, securing a place among the 2024 Law360 Real Estate Groups of the Year.
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January 29, 2025
Construction Group Of The Year: Nossaman
Nossaman LLP's work on major projects like the $4.9 billion automated people mover system in Los Angeles International Airport and the $600 million modernization of Interstate 75 in Michigan scored the firm a spot among the 2024 Law360 Construction Groups of the Year.
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January 29, 2025
Katten Real Estate Leaders Suggest Prenegotiated Bankruptcy
Bankruptcy protection is usually a last resort for commercial real estate borrowers. But for a large distressed asset in a high-tax district, a prepackaged bankruptcy is a no-brainer, according to Katten partners Scott M. Vetri and Timothy G. Little. Here's how it would work.
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January 28, 2025
End To Third-Party Standing May Affect Ga. Civil Rights Suits
The Supreme Court of Georgia on Tuesday shut down a landowner's bid to sue her county on behalf of the would-be buyer of her property, declaring that Peach State courts will no longer recognize third-party standing as a means for plaintiffs to get in the courthouse's doors in a ruling experts say could have a wide effect on future civil rights cases.
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January 28, 2025
Judge OKs Refiling Of Suit Over $20M Austin Nightclub Deal
A Texas federal judge granted a bid to dismiss a suit claiming a title company handed over $3 million to a fraudster, saying Tuesday that she would allow the plaintiff to rework its complaint to show the defendants were indeed more heavily tied to the sham than the current complaint contended.
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January 28, 2025
Life Sciences REIT Exec Sees Market Boon In Trump Admin
Alexandria Real Estate Equities Inc.'s founder and executive chairman applauded the Trump administration in a Tuesday earnings call, saying several expected reforms will indirectly aid key life science real estate markets.
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January 28, 2025
Dubai Co. Begins Condo Project At Surfside Collapse Site
Dubai-based developer DAMAC International said Tuesday it plans to build its first U.S. real estate project in the town of Surfside, Florida, at the site where the 12-story Champlain Towers South condominium collapsed in June 2021, resulting in the deaths of 98 people.
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January 28, 2025
BCLP Adds Ex-Brownstein Hyatt Real Estate Atty In Denver
Bryan Cave Leighton Paisner LLP hired a former Brownstein Hyatt Farber Schreck LLP real estate attorney as a partner for its commercial real estate team in its Denver office, the firm announced Monday.
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January 28, 2025
Ohio Board Nixes Bid To Cut Regal Theater's Value
The Ohio Board of Tax Appeals rejected arguments that a Regal Cinemas property's value should be cut to $4 million from $11.6 million, saying the property owner didn't show that a county appraiser's valuation based on leases and rents of similar properties across seven states was flawed.
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January 28, 2025
Industrial Developer Invests $120M Into NC Distribution Center
PNK Group invested $120 million into a High Point, North Carolina, distribution center that it built on behalf of water hygiene and conservation company Ecolab Corp., the industrial property developer announced Tuesday.
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January 28, 2025
Guns Owners Urge Justices To Throw Out NY Carry Law
Members of the Gun Owners of America Inc. have petitioned the U.S. Supreme Court to overturn a New York carry law that the Second Circuit largely upheld last year, arguing that the lower appellate court's ruling "doubled down" on erroneous conclusions already vacated the last time the justices heard the case.
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January 28, 2025
Greenberg Traurig Digital Infrastructure Leader Joins Kirkland
Kirkland & Ellis LLP has picked up the longtime co-chair of Greenberg Traurig LLP's digital infrastructure, data center and cloud computing industry group, who has joined the firm's corporate practice group in Washington, D.C.
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January 28, 2025
Wynn Fraud Trial Still On As Appeals Court Declines To Step In
A Wynn Resorts subsidiary cannot challenge a decision allowing a trial on accusations that it misled the former owner of the site of its Encore Boston Harbor casino into cutting the property's sale price by $40 million, the state's intermediate-level appeals court has ruled.
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January 28, 2025
NY Assembly Bills Seek Tax On Vacant Land, Buildings In NYC
New York City would be permitted to impose taxes on certain vacant land and vacant residential properties under a pair of bills introduced in the New York state Assembly.
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January 28, 2025
Slaughter & May-Led JV To Buy 6 Warehouses Worth €470M
Property investor Segro PLC said Tuesday that its joint venture with a pension fund has agreed to acquire six logistics centers in the Netherlands and Germany worth €470 million ($490 million), as the U.K. company plans to expand its presence in Europe.
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January 27, 2025
Feds May Trim $2B In Leases Over Trump's Term, Trepp Says
Following President Donald Trump's order on Inauguration Day that federal workers return to the office, a Trepp report finds more than a third of all office space leased by the federal government could potentially be terminated during Trump's second term.
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January 27, 2025
Amazon To Open Office In Miami's Wynwood District
Amazon has chosen Miami's Wynwood neighborhood for a new location in the Magic City, agreeing to lease 50,333 square feet at the soon-to-be-completed Wynwood Plaza mixed-use project, the owners said Monday.
Momentary Funding Freeze Gives Brownfields Pause
President Donald Trump's turbulent 48-hour federal funding freeze sent ripples through the brownfields industry, with developers — who often rely on the federal government as a major funding partner — unsure of the future feasibility of their projects.
Swift Policy Shifts Make Adaptability Crucial In Real Estate
Few professionals understand the relentless pace of change quite like real estate attorneys do, and navigating the shifting sands of policy is becoming an all too familiar challenge where the only constant seems to be the need for constant adaptation.
Citadel Taps Related For Miami Tower, While Another Is Cut
In a pairing of heavyweights in their fields, Citadel LLC has announced that it is partnering with developer Related Companies to build the hedge fund's planned waterfront supertall tower in Miami's Brickell Financial District. But the news was accompanied by word that another prominent tower project in the neighborhood will not be moving forward.
Expert Analysis
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Insurance Considerations For LA Wildfire Recovery
Businesses and homeowners affected by the destructive Southern California wildfires must act swiftly and strategically to navigate the complexities of the insurance recovery process, including by identifying all applicable policies, documenting damage thoroughly and keeping abreast of relevant state law, say attorneys at Morgan Lewis.
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LA Wildfires' Effect On Calif. Insurer Of Last Resort
Attorneys at Willkie discuss the background of California's insurer of last resort — known as the Fair Access to Insurance Requirements Plan — and examine the process of assessing member insurers and relevant recent property insurance market developments in light of the destruction from the ongoing Los Angeles wildfires.
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Public Corruption Enforcement In 2024 Has Clues For 2025
If 2024 activity is any indication, the U.S. Supreme Court will likely continue to rein in expansive prosecutorial theories of fraud in the year to come, but it’s harder to predict what the new administration will mean for public corruption prosecutions in 2025, says Cathy Fleming at Offit Kurman.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Timeline Considerations For Boston's New RE Review Process
Boston's newly reimagined large real estate project review process, featuring early community engagement, holds impacts for project timelines that land use counsel must account for when guiding developers through approvals, says David Linhart at Goulston & Storrs.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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How Landlords Can Navigate Cannabis-Related Leases
As the cannabis industry continues to rapidly grow, landlords should consider a variety of lease terms and operational details that may help mitigate uncertainty involving federal laws, zoning restrictions and tax implications, says Kyla Baker at Holland & Knight.
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Lights, Camera, Real Estate: Preparing For Film Facility M&A
As the entertainment industry struggles to recover from multiple strikes and a decline in production, certain aspects of selling or acquiring production facilities may become important to consider, as these assets are valued very differently from typical commercial real estate properties, say attorneys at Olshan Frome.