Commercial

  • December 04, 2024

    What Real Estate Pros Learned About Office Sector In 2024

    While the long-term story of the office sector post-pandemic is still yet to be told, 2024 offered some clues as to what may be in store for that asset class going forward.

  • December 03, 2024

    Texas Judge Blocks 'Quasi-Orwellian' Anti-Laundering Law

    A Texas federal judge on Tuesday halted the Biden administration's roll-out of new reporting requirements aimed at unmasking anonymous shell companies, granting a nationwide preliminary injunction sought by business interests challenging their constitutionality.

  • December 03, 2024

    Ex-Braves Blast Tax Court's 'Disregard' In Easement Fight

    Two former Atlanta Braves players penalized for allegedly overstating the value of a conservation easement donation urged the Eleventh Circuit to toss the costly ruling against them, saying the U.S. Tax Court's decision showed "blatant disregard" for the appeal court's precedent in deciding the matter.

  • December 03, 2024

    Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says

    A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.

  • December 03, 2024

    Insurance Execs Charged With $250M Fake Policy Scheme

    An insurance company and two executives issued bogus insurance policies purporting to offer over $250 million in coverage to companies and homeowners, according to an indictment announced by the Manhattan district attorney Tuesday.

  • December 03, 2024

    Gov't Properties REIT Buys NC School System Campus

    Real estate investment trust Easterly Government Properties Inc. announced Tuesday it acquired a three-property campus of commercial properties in Cary, North Carolina, which are leased primarily to a local public school system.

  • December 03, 2024

    Insurer Says No Coverage For Fishery's $2M Water Damage

    An insurer told an Arizona federal court it owed no coverage to a seafood company embroiled in underlying litigation over more than $2 million in water damage, saying the fishmonger's splashing at its rental property wasn't accidental and its polices weren't in effect at the time.

  • December 03, 2024

    Pastor Wants Judge DQ'd Over Attorney Turnover Comment

    A Michigan pastor said Monday that a federal judge should be disqualified from overseeing his lawsuit alleging a township's zoning ordinance discriminates against religious entities because of a comment the judge made about the pastor having "issues" with attorney turnover.

  • December 03, 2024

    California Tribe Says Feds Didn't Consult On Casino Project

    A California tribe is looking to block the U.S. Department of Interior from approving a casino project on its historic homelands, arguing that the federal government failed to consult it on the endeavor that will irreparably harm its sovereignty and its rights over sacred objects located on the site.

  • December 03, 2024

    JV Nabs NYC Waterfront Property, $85M Construction Loan

    A joint venture of Joyland Group and Prospect Development purchased an undeveloped Brooklyn, New York, waterfront property for $48.25 million, simultaneously securing an $85 million construction loan, according to a Tuesday statement from JLL, which arranged both deals.

  • December 03, 2024

    Timeshare Co. Argues Jury Never Should've Seen Fraud Suit

    A company selling timeshares in Atlantic City, New Jersey, told a state appeals court Tuesday that a consumer fraud suit never should have reached a jury, arguing that an evidence rule bars the claims.

  • December 03, 2024

    Real Estate Lawyers On The Move

    Nixon Peabody, Dorsey & Whitney and Baker McKenzie are among the law firms that have made recent real estate or construction hires.

  • December 03, 2024

    4 Firms Guide KKR JV's £900M Hotel Portfolio Buy

    A joint venture between global investment firm KKR and investment manager The Baupost Group acquired a £900 million ($1.14 billion) portfolio of 33 U.K. Marriott International hotels from a subsidiary of the Abu Dhabi Investment Authority in a deal guided by four law firms, KKR announced.

  • December 03, 2024

    Duo Launch $1B Office-To-Resi Conversion Venture

    Dune Real Estate Partners LP and developer TF Cornerstone announced Tuesday that the pair have launched Alta Residential, a $1 billion venture that will complete office-to-residential conversions in major metropolitan areas nationwide.

  • December 02, 2024

    Manhattan Office Space Leases Decline As Demand Goes Up

    The monthly leasing volume of Manhattan, New York, office space decreased by 12.4% in November but still topped prior years, with demand set to be the strongest since the pandemic, according to a Colliers report released Monday.

  • December 02, 2024

    Kirkland Adds 2 Real Estate Partners To NYC Office

    Kirkland & Ellis LLP has hired ex-Fried Frank partner Matthew Bettinger and former Schulte Roth & Zabel LLP partner Seth R. Henslovitz as new partners for its real estate team in New York City, the firm announced on Monday.

  • December 02, 2024

    Deal Struck In Discount Chain Plan, No Sanctions In J&J Case

    Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.

  • December 02, 2024

    Cargo Facility Merits Property Tax Break, Mass. Justices Told

    A property leased from the Massachusetts Port Authority to a for-profit cargo enterprise is exempt from property tax because the facility serves a public purpose, the lessee told the state's highest court Monday, urging reversal of a tax board decision.

  • December 02, 2024

    EB-5 Visa Scam Suit Against Fla. Immigration Atty Ends

    A Florida federal judge on Monday dismissed with prejudice a lawsuit against an immigration attorney over a $500,000 visa scam after the two parties filed a stipulation of dismissal.

  • December 02, 2024

    NYC Real Estate Week In Review

    Goodwin Procter and Blank Rome are among more than half a dozen law firms that guided the top New York City real estate deals that hit public records last week, a busy period for filings despite the holiday-shortened week.

  • December 02, 2024

    Partnership Offers Proptech Players Range Of Legal Expertise

    Goodwin Procter LLP and the Center for Real Estate Technology and Innovation have teamed up to try to help proptech companies capitalize on a potential upswing. Law360 Real Estate Authority recently spoke with the founder and co-leader of Goodwin's proptech group and the founder of CRETI about what they think they can provide to help companies succeed.

  • December 02, 2024

    NJ Siblings Say Fox Rothschild Must Face Malpractice Suit

    Two siblings have called on a New Jersey state court to reject Fox Rothschild LLP's bid to exit their malpractice suit alleging a lawyer now at the firm bungled a 1984 property deed and 1993 trust belonging to their late stepfather, depriving them of a lucrative land parcel.

  • November 27, 2024

    Developer Reboots Plan For Miami Beach Deauville Project

    Miami Beach officials have reviewed a new plan to bring a hotel and condominium towers to the city's former Deauville Beach Resort location, with developers relying on a new state law preventing voter opposition of the sort that ended a previous intended development at the site two years ago.

  • November 27, 2024

    Illinois Top Court Will Decide Fate Of $7B Power Line Permit

    The Illinois Supreme Court has agreed to review a lower court's decision striking state utility regulators' approval to build part of the $7 billion Grain Belt Express high-voltage transmission line.

  • November 27, 2024

    Lender Seeks $1M Limit After Broker's Claim Notice Mistake

    A lender assigned insurance rights by an underlying defendant as part of a $1 million settlement told a Florida federal court that it is still owed the defendant's $1 million limit even though the defendant's insurance broker failed to notify the correct carrier about the lender's lawsuit.

Expert Analysis

  • Best Practices For Lenders To Limit Recourse Liability

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    As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Rising Interest Rates Bring Risk For Construction Contractors

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    With rising interest rates causing many construction projects to be slowed or halted, it's important for general contractors to implement safeguard measures against the risk of significant financial losses caused by owner-driven schedule modifications, says Kevin Riexinger at Gfeller Laurie.

  • Keys To Navigating The Post-Pandemic CRE Market

    Excerpt from Practical Guidance
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    As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.

  • How Rate Exportation Is Shifting Amid Regulatory Trends

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    All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.

  • How The Commercial Real Estate Slump May Weigh On Banks

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    The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.

  • Negotiating Material Escalation In Construction Contracts

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    As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.

  • Landlords Should Prep As WeWork Faces Potential Ch. 11

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    After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.

  • Key Drivers Behind Widespread Adoption Of NAV Financing

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    While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.

  • Conn. Ruling Highlights Keys To Certificate-Of-Need Appeals

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    The Connecticut Supreme Court's recent decision in High Watch Recovery Center v. Department of Public Health, rejecting rigid application of statutes concerning certificate-of-need procedure, provides important guidance on building an administrative record to support a finding that a case is contested, say attorneys at Robinson & Cole.

  • Pickleball Makes Waves In Fla. Real Estate, With Risks In Play

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    Pickleball's burgeoning popularity in Florida is catalyzing a transformation in the state's commercial real estate market, but investors must take steps to navigate legal challenges related to noise, insurance and community dynamics, says Emmanuelle Litvinov at DarrowEverett.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • What Calif. Pot Permit Ruling Means For Enviro Compliance

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    While a California appeals court's recent decision in Lucas v. City of Pomona affirms the city's use of a statutory exemption for its commercial cannabis overlay permit program, the ruling does not mean that all applicants seeking similar approvals are exempted from state environmental compliance obligations, say Whitney Hodges and Barbara Machado at Sheppard Mullin.