Commercial
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January 08, 2025
Bronx Multifamily Project Cashes In $218M Freddie Mac Loan
Affiliates of The Domain Cos. have secured a $218 million loan for a mixed-use, mixed-income multifamily project in the Bronx borough of New York City, with financing provided by Freddie Mac via JLL Real Estate Capital.
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January 08, 2025
Greenberg Traurig Works On $120M Prologis Industrial Buy
Exxon Mobil Corp. sold a Brooklyn, New York, commercial property to logistics real estate company Prologis Inc. for $120 million in a deal that involved Greenberg Traurig LLP, according to official property records.
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January 08, 2025
Toxic LA Landfill Closes, But Lawsuits Continue to Pile On
Los Angeles County has moved to study the effects of the closure of the Chiquita Canyon Landfill, which stopped accepting waste last week following a series of lawsuits and other complaints over the effects of an underground reaction that's been spewing super-heated wastewater, likely since 2022.
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January 08, 2025
Farm Owner Can't Claim $6.5M For Border Wall, 5th Circ. Told
The federal government argued Wednesday that a Texas woman isn't owed millions of dollars in compensation for a section of the state's border wall built on her land, telling the Fifth Circuit that a principle giving landowners rights to property improvements can't be equitably applied to the federal government.
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January 08, 2025
Judge Reverses His Own Ruling In Chicago Hotel Zoning Fight
An Illinois federal judge ruled against the owners of a historic Chicago hotel Tuesday, dialing back an earlier victory he had granted them last year in a zoning suit against the city.
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January 08, 2025
Calif. Tribe Has Standing To Block Casino Project, Court Told
A California tribe says it has constitutional standing to block the Interior Department from taking land into trust for a proposed casino project on its historic homelands, arguing that it suffered actual and concrete harm when the agency determined that no historic resources would be affected by the endeavor.
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January 08, 2025
Trump-Aligned Dubai Developer To Put $20B Into Data Centers
Dubai-based developer DAMAC Properties plans to break into the U.S. data center industry with a $20 billion investment targeting Sunbelt and Midwest states, with help from the federal government, according to a recent announcement by President-elect Donald Trump.
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January 08, 2025
REITs Should Expect More Shareholder Activism In '25
Public real estate companies should expect more shareholder activist campaigns in 2025, with investors targeting real estate investment trusts with poor corporate governance practices and placing a greater focus on mergers and acquisitions, according to an Olshan Frome Wolosky LLP attorney.
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January 08, 2025
Florida Real Estate Projects To Watch In 2025
Florida real estate has weathered the economic headwinds of the past few years and has no shortage of notable projects in the pipeline across multiple markets.
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January 08, 2025
NYC Development Projects To Watch In 2025
New York City real estate development is still squeezed by interest rates and office vacancies, but attorneys for developers are hopeful that public policy and pricing discovery will continue to spur deals.
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January 07, 2025
Mont. Bill Floats Mine, Data Center Property Tax Changes
Montana would lower the property tax rate imposed on metal mines, certain agricultural land and railroads but raise the rate on data center property as part of a bill introduced in the state Senate.
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January 07, 2025
Mich. Town Tries To Ditch $5M Suit Over Dispensary Flip-Flop
A Michigan township accused of greenlighting, and then blocking, a developer's special-use permit for a marijuana dispensary said Tuesday the developer suing it for $5 million never actually got the required prequalification from the state.
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January 07, 2025
DOJ Revamps Process For Federal Real Estate Deals
The U.S. Department of Justice has replaced "outdated provisions" that guided how federal agencies acquired real property with 10 new federal provisions that have the goal of "promoting government efficiency and saving taxpayer funds," the DOJ said Tuesday.
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January 07, 2025
Judge Trims Shareholders' Suit Against Data Center REIT
Equinix Inc. has escaped a claim stemming from a proposed securities class action in California federal court that accused the data center-focused real estate investment trust of misleading investors about its power capacity, growth potential and capital expenditures.
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January 07, 2025
Mont. Bill Calls For Property Tax Appraisals Every 2 Years
Montana would require all real property to be reappraised every two years for tax purposes as part of a bill introduced in the state House of Representatives.
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January 07, 2025
Property Owner Says Insurer Owes $16.2M For Fire Damage
A Colorado property owner is seeking to recover $16.2 million from its insurer for property damage caused by the 2021 Marshall Fire, telling a federal court the carrier wrongly concluded the properties did not sustain direct physical damage in order to justify replacement costs.
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January 07, 2025
Mont. Bill Seeks Review Process For Tax-Exempt Property
Montana would require the state Department of Revenue to create a program to review property that is exempt from taxation under a bill introduced in the state House of Representatives.
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January 07, 2025
Akerman Advises Bronx Kingsbridge Armory Project
Akerman LLP is representing a joint venture that will redevelop the Kingsbridge Armory in the Bronx with the help of $215 million in public funds, a project that city and state officials unveiled Tuesday.
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January 07, 2025
2 Firms Advise Nonprofit's $124M Loan In Housing Site Buy
Nonprofit Westhab acquired a development site in the Sheepshead Bay neighborhood of Brooklyn, New York, from a Slate Property Group affiliate, borrowing $124 million along with the purchase in transactions advised by Nixon Peabody LLP and Chapman and Cutler LLP.
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January 07, 2025
Braverman Greenspun Acquires NY Real Estate Boutique
Braverman Greenspun PC said Tuesday it has acquired real estate boutique Zingman & Associates PLLC, allowing it to deepen its capabilities in landlord-tenant related issues.
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January 07, 2025
Landowner Gets Pot Farm Transport Easement Nixed
A California state appeals court has vacated a conditional use permit that the County of Santa Barbara issued to a cannabis farm, finding that a nearby landowner can deny the use of an easement on its property to transport the federally illegal goods.
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January 07, 2025
Stoel Rives Adds San Diego Construction Atty As Partner
Stoel Rives LLP said construction and real estate attorney Kirsten Worley has joined the firm as a partner in its San Diego office.
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January 07, 2025
JLL Arm Snaps Up Another Phoenix-Area Industrial Property
LaSalle Investment Management announced that it has acquired a five-building industrial park in Tempe, Arizona, on behalf of a fund focused on high-quality core assets across the United States.
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January 06, 2025
Cos. Accused Of Misusing EB-5 Investor Funds
More than $80 million in EB-5 investor funds that were intended for a Brooklyn real estate project were misused to purchase shares in a related company, a suit claimed in New York federal court.
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January 06, 2025
Another Building Contractor Agrees To End No-Hire Pacts
The Federal Trade Commission said Monday that Planned Building Services has agreed not to enforce terms in its contracts that prevent building owners from hiring the service contractor's workers, in a second recent case targeting the building services industry.
The Enviro Policies Real Estate Attys Are Eyeing In 2025
On the precipice of four years of expected deregulation, agency challenge, and a weakening of incentives and credits, real estate attorneys and their clients are in a wait-and-see phase to determine how environmental policy shifts will — or should — alter their work.
Power Constraints May Test Data Center Gains In '25
Few doubt that demand for data centers will be strong this year, but can the industry's supply keep up, and does the energy infrastructure exist to make more development possible? These are the questions on attorneys' minds going into the new year.
CMBS Deals, Distress Rates Saw 2024 Highs
Kroll Bond Ratings Agency reported Tuesday that $104.1 billion worth of commercial mortgage-backed securities were issued in 2024, more than doubling issuance rates seen in 2023, even as distress rates driven by office sector performance rose simultaneously.
Expert Analysis
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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.
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Corporate Liability Issues To Watch In High Court TM Case
The U.S. Supreme Court will hear arguments in a trademark dispute between Dewberry Group and Dewberry Engineers next week, presenting an opportunity for the court to drastically alter the fundamental approach to piercing the corporate veil, or adopt a more limited approach and preserve existing norms, say attorneys at Bracewell.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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A Legal Perspective On NYC's Retail Real Estate Evolution
As New York City's retail market begins to show signs of resilience after the challenges of recent years, landlords must be cognizant of legal implications from shifting trends toward shorter-term leases and pop-up stores, says Andrea Gendel at Pryor Cashman.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.