Commercial
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January 06, 2025
3 Firms Guide $291M Financing Deal For Miami Project
Miami developer Terra obtained $291 million in permanent financing in a deal guided by Holland & Knight LLP, Cadwalader Wickersham & Taft LLP and Gangemi Law Group PLLC for the completed first phase of its upcoming 38-acre mixed-use development project known as Centro City.
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January 06, 2025
Jenner & Block Faces DQ Bid In Casino Project Dispute
Three Native American tribes want Jenner & Block LLP disqualified from a lawsuit that seeks to block the construction of a new casino in Oregon, claiming the firm previously represented them in the same dispute.
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January 06, 2025
Aimco Plans $520M Miami Waterfront Property Sales
Real estate investment company Apartment Investment & Management Company will sell off two Miami waterfront properties for $520 million to an entity connected to private equity firm and developer Oak Row Equities in a sale the developer described as "the largest single land acquisition in South Florida" to date.
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January 03, 2025
NY Nursing Home Blames AG's 'Crusade' For Ch. 11
The owner of a 588-bed nursing facility on Long Island has filed for Chapter 11 protection in a New York bankruptcy court with more than $58 million in debt, saying it was the victim of a "crusade" and "smear campaign" launched by the state attorney general's office.
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January 03, 2025
Ohio AG Urges State Justices To Limit Local Tax Appeals
Ohio's attorney general backed property owners in the state Supreme Court who are arguing that school boards can't appeal valuation decisions of properties they don't lease or own to county courts, saying the boards don't have a sufficient interest in the properties to pursue litigation.
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January 03, 2025
Biogen Not On Hook For Disruptions Caused By Landlord
Biogen Inc. did not breach the terms of a sublease with biopharma components manufacturer Brammer Bio and bears no responsibility for any claimed losses suffered by Brammer during a construction project by the building's owner, a Massachusetts judge has concluded.
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January 03, 2025
Ore., Calif. Tribes Can't Stop Casino Project
A D.C. federal district court judge denied a bid by three tribes to block the U.S. Department of the Interior from issuing a determination that would greenlight a casino project in Oregon, saying the environmental impact statement for the endeavor does not constitute a final agency action.
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January 03, 2025
Meet The Attys Guiding Party City Back Through Ch. 11
A team of attorneys from Porter Hedges LLP and Paul Weiss Rifkind Wharton & Garrison LLP are representing retail chain Party City in its Chapter 11 case in the Southern District of Texas, as it plans to close its roughly 700 remaining stores and liquidate.
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January 03, 2025
Miami Office Vacancy Rates Rise, And So Do Rents
Office vacancy rates in Miami's office market rose to 15.1%, signaling a slight cooldown after a flurry of interest and activity that dominated the market in early pandemic years, per a report from Avison Young.
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January 02, 2025
Anchorage Residents Look To Block Tribal Casino Project
A group of Anchorage residents has sued the acting chairwoman of the National Indian Gaming Commission and the Native village of Eklutna in Alaska federal court, claiming plans to build a 58,000-square-foot casino will ruin their rural neighborhood.
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January 02, 2025
Oregon, California Tribes Ask Court To Block Casino Project
Three tribes are asking a D.C. federal court to block the Interior Department from issuing a final decision that would take land into trust for an Oregon casino project, arguing that the agency's lack of tribal consultation on the endeavor will cause damage to their economic and governmental interests.
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January 02, 2025
Feds Ask High Court To Unpause Corporate Transparency Law
The federal government is asking the U.S. Supreme Court to lift a Texas judge's injunction against the Corporate Transparency Act, telling the justices in a new application that the 2021 anti-money laundering law's compliance deadlines should take effect while the Fifth Circuit hears the full case.
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January 02, 2025
NYC Real Estate Week In Review
BakerHostetler and Seyfarth Shaw are among the law firms that steered the largest New York City real estate deals that hit public records last week, with a nine-figure Brooklyn transaction topping the list.
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January 02, 2025
Mich. Justices Say Detroit Fire Fee Is Legal, Not A Tax
The Michigan Supreme Court has ruled a Detroit fee for a fire service program was not an unlawful tax but clarified that a regulatory program's main benefit cannot be the mere permission for a property owner to operate its business in the city.
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January 02, 2025
Cox Castle Elects 3 New Partners In New Year
Cox Castle & Nicholson LLP elected three new partners effective at the start of the year, including attorneys whose practices span the real estate, land use, environmental and renewable energy industries, the real estate firm announced Jan. 2.
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January 02, 2025
7th Circ. Won't Review $3.4M Faulty Work Coverage Ruling
The Seventh Circuit declined to review a ruling requiring an insurer to defend an architectural design firm and its owner against faulty work claims seeking more than $3.4 million in damages.
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January 02, 2025
Hoboken Pot Dispensary Was Rightly Approved, Panel Finds
A New Jersey appeals panel has given its approval to a Hoboken marijuana dispensary, saying the trial court was wrong to block it from operating based on an ordinance passed after it submitted a conditional use application for its location.
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January 02, 2025
Welltower Elevates GC To Chief Legal Officer
Healthcare-focused real estate investment trust Welltower Inc. announced Thursday it began the new year by making several executive and senior leadership team promotions, including naming a longtime legal leader its chief legal officer.
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January 02, 2025
Manhattan Office Leasing Rises, As CMBS Debt Looms
Leasing activity in Manhattan's office market during the final quarter of 2024 reached heights not seen since before the pandemic, even as maturing commercial mortgage-backed securities debt overshadows the market, per a Thursday report from Savills.
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January 01, 2025
Federal Real Estate Policy To Watch In 2025
The potential for new tariffs and the Corporate Transparency Act are among the areas of federal policy that real estate lawyers will be watching in 2025.
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January 02, 2025
The Top Property Insurance Decisions Of 2024
A novel climate change coverage suit in Hawaii, three state high court pandemic coverage rulings and a Colorado ruling on a late claim-filing rule are among the top property insurance decisions of 2024. Here, Law360 breaks down the cases that drew the most attention among practitioners in the property insurance space.
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January 01, 2025
A Prelude To 2025 Commercial Real Estate
All eyes will be on the Fed in 2025 as commercial real estate looks for clues on where interest rates will be heading. In this column, Real Estate Authority's editor-at-large Andrew McIntyre offers his take on commercial real estate in the new year.
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January 01, 2025
Commercial Real Estate Cases To Watch In 2025
The real estate community in 2025 will be watching multiple disputes tied to malls or would-be malls, as well as a hotel trademarks battle. Here, Law360 previews the commercial real estate cases to watch this year.
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December 30, 2024
Energy Demand Key Driver In 2025 Infrastructure Roadmap
With growing energy demand increasingly being met by renewable power, an overhaul of U.S. infrastructure is expected to gain steam in 2025, advancing a push to adapt roadways, ports and other infrastructure for a changing climate and new technologies.
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December 30, 2024
Big Year Of Real Estate Deals Ahead As PE Sees Opportunities
The market is out of the doldrums, and private equity deal practitioners are looking forward to an active year for real estate, particularly with transactions involving data centers, refinancings and — believe it not — office buildings.
Expert Analysis
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DOJ Paths To Limit FARA Fallout From Wynn's DC Circ. Win
After the D.C. Circuit’s recent Attorney General v. Wynn ruling, holding that the government cannot compel retroactive registration under the Foreign Agents Registration Act, the U.S. Department of Justice has a few options to limit the decision’s impact on enforcement, say attorneys at MoFo.
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Shipping Containers As Building Elements Require Diligence
With the shipping container market projected to double between 2020 and 2028, repurposing containers as storage units, office spaces and housing may become more common, but developers must make sure they comply with requirements that can vary by intended use and location, says Steven Otto at Crosbie Gliner.
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NY Tax Talk: Triggers For Tax On Software-As-A-Service
Recent decisions by New York’s Tax Appeals Tribunal and Division of Tax Appeals, finding that services bundled with prewritten software were tangible property, provide insight into the features and customer interactions that render such products subject to New York sales tax, say Elizabeth Cha and Madison Ball at Eversheds Sutherland.
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NY Ruling Offers A Foreclosure Road Map For Lenders
A New York appellate court recently upheld a summary judgment ruling in favor of a commercial lender's foreclosure in U.S. Bank v. 1226 Evergreen Bapaz, illustrating the proofs lenders will need to prosecute a foreclosure action, especially where the plaintiff is an assignee of the originating lender, say attorneys at Sherman Atlas.
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Kentucky Tax Talk: Appeals Court Revisits Leases' Tax Effects
With better facts and greater emphasis on the Kentucky Constitution, Walgreen Co. may succeed in its latest Kentucky Court of Appeals challenge to a tax assessor's method of valuing leaseholds on real property for purposes of determining ad valorem tax, say Mark Sommer and Elizabeth Ethington at Frost Brown Todd.
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Utilizing Liability Exemption When Calif. Cities Lease Property
With rising costs pushing California municipalities to lease real estate assets instead of purchasing them, municipalities should review the ample case law that supports certain exceptions to California Constitution Section 18(a) requirements, providing that certain long-term lease obligations are not considered to be liabilities, says Steven Otto at Crosbie Gliner.
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How NJ Worker Status Ruling Benefits Real Estate Industry
In Kennedy v. Weichert, the New Jersey Supreme Court recently said a real estate agent’s employment contract would supersede the usual ABC test analysis to determine his classification as an independent contractor, preserving operational flexibility for the industry — and potentially others, say Jason Finkelstein and Dalila Haden at Cole Schotz.
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A Checklist For Lenders Preparing For CRE Loan Defaults
Considering the recent interest rate environment, lenders should brush up on the proper steps that they should take when preparing to respond to a borrower's default on a commercial real estate loan, and borrowers should understand what lenders will be reviewing, says attorney Norma Williams.
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7th Circ Joins Trend Of No CGL Coverage For Structural Flaws
The Seventh Circuit, which recently held potential structural instability did not count as property damage under a construction company's commercial general liability policy, joins a growing consensus that faulty work does not implicate coverage without tangible and present damage to the project, say Sarah Abrams at Baleen Specialty, and Elan Kandel and James Talbert at Bailey Cavalieri.
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Criminal Enforcement Considerations For Gov't Contractors
Government contractors increasingly exposed to criminal liability risks should establish programs that enable detection and remediation of employee misconduct, consider voluntary disclosure, and be aware of the potentially disastrous consequences of failing to make a mandatory disclosure where the government concludes it was required, say attorneys at Crowell & Moring.
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The Often Overlooked NY Foreclosure Notice Requirements
As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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A Case Study For Calif. Cities In Water Utility Takeovers
With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.
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Lower Courts May Finally Be Getting The Memo After Ciminelli
A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.