Commercial

  • October 16, 2024

    Developer, Investment Firm Complete 57-Story Miami Tower

    Developer OKO Group and real estate investment firm Cain International received a temporary certificate of occupancy from Miami for their 57-story office tower, the companies announced Wednesday.

  • October 16, 2024

    Blank Rome Guides $250M Loan For Archdiocese Of NY

    The Archdiocese of New York borrowed a $250 million mortgage loan from Goldman Sachs Bank USA for multiple New York City properties including a hotel in a deal guided by Blank Rome LLP, according to official property records filed Wednesday.

  • October 16, 2024

    Barings Offers $134M Refi For NC Apartment Complex

    Barings has provided a five-year, $134 million loan to refinance the debt for a 283-unit, mixed-use North Carolina apartment complex, the real estate investment management company announced.

  • October 15, 2024

    Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told

    Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.

  • October 15, 2024

    Cohen Drags $187M Monster Loan Guaranty Suit To Appeal

    Billionaire real estate developer Charles Cohen appealed a New York state court's earlier October ruling that paved the way for Fortress Credit Corp. to collect on a $187 million personal guaranty, as part of the company's ongoing efforts to recover a $534 million loan.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    Law Firm Ducks Sanctions Over Depos In NJ Malpractice Suit

    A New Jersey state judge has declined to sanction Chaitman LLP in a dispute over the order of depositions in a malpractice lawsuit stemming from real estate litigation.

  • October 15, 2024

    NYC Real Estate Week In Review

    Gutman Weiss and Price Law Firm are among the firms that guided the largest New York City real estate deals that hit public records last week, with three of the week's five largest deals being Brooklyn matters.

  • October 15, 2024

    Judge Rejects Firm's 'Support' Framing In Racetrack Flaw Suit

    A Florida state judge on Tuesday denied an attempt by a British racetrack consultant to define its role as merely providing "support" to the construction of a track that failed during the Formula 1 Miami Grand Prix race in 2022.

  • October 15, 2024

    Abu Dhabi Getting Its Own Las Vegas-Style Sphere

    A second large, spherical live entertainment venue that will mirror Las Vegas' Sphere is going to be built in the capital city of the United Arab Emirates, according to an official Tuesday announcement.

  • October 15, 2024

    Blank Rome, Nixon Peabody Guide NYC Section 8 $96M Refi

    Camber Property Group LLC secured a $96.2 million refinancing from Merchants Capital Corp, tied to four Brooklyn, New York, Section 8 multifamily properties, in a deal guided by Blank Rome LLP.

  • October 15, 2024

    Simpson Thacher, Milbank Guide $2B DataBank Equity Raise

    Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

  • October 15, 2024

    Justices Reject Homebuilder Case Over Minn. Fee Scale

    The U.S. Supreme Court has refused to hear claims from a homebuilders' trade group that a court failed to consider whether "valuation-based" permit fees that scale higher for more expensive projects should match the support two Minneapolis suburbs provide.

  • October 11, 2024

    Property Plays: Tallest Towers, 701 Brickell, Nuveen

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • October 11, 2024

    RICO Suit Accuses VC Co. Of Falsely Claiming Native Ties

    Three California corporations have hit the owners and operators of a venture capital firm with a racketeering suit in federal court, accusing them of falsely claiming they have Native American ties and can procure grants and loans for development projects managed by non-Native entrepreneurs.

  • October 11, 2024

    EB-5 Investor Urges Rollback Of Immigration Fee Hikes

    An EB-5 immigrant investor urged a Colorado federal judge to set aside controversial immigration fee increases that took effect in April, arguing that a 2022 law required a study from the U.S. Department of Homeland Security before the immigrant investor program fees could be raised.

  • October 11, 2024

    Bellwether Plaintiffs Let Halliburton Escape Pollution Dispute

    Two bellwether plaintiffs in litigation seeking to hold the owners and operators of a former pipe manufacturing facility liable for contamination have agreed to permanently drop their claims against Halliburton Energy Services.

  • October 11, 2024

    Subcontractor Owes Travelers $325K For Hotel Work Deal

    A Travelers unit is entitled to recover $325,000 for payments made against its surety bonds to settle a general contractor's claims that a subcontractor abandoned work on an Idaho hotel, a Washington federal court ruled, finding the subcontractor liable under an indemnity agreement with Travelers.

  • October 11, 2024

    Fox Rothschild Aims To Exit Malpractice Suit Over Land Row

    Fox Rothschild LLP has called on a New Jersey state court to throw out malpractice claims leveled against it by two siblings who accused a lawyer at the firm of bungling a 1984 property deed and 1993 trust belonging to their stepfather, arguing the sisters are trying to improperly hold it responsible for purported, decades-old negligence by other law firms.

  • October 11, 2024

    Construction Contract Co. Document Crunch Closes Series B

    Document Crunch, a contract software company servicing the construction industry, announced on Thursday the raising of $21.5 million in a Series B funding round, less than a year after its first capital raise.

  • October 10, 2024

    Okla. LLC Wants GSA Office Lease Award Nixed

    An Oklahoma-based company urged the U.S. Court of Federal Claims to order the U.S. government to vacate and reevaluate a 15-year Ohio office lease award that it gave to another company.

  • October 10, 2024

    Investor Connected To Texas AG Seeks To Ax Fraud Case

    Nate Paul, a real estate investor at the heart of the failed impeachment of Texas Attorney General Ken Paxton, has moved to dismiss federal wire fraud and conspiracy charges against him, arguing that the indictment does not claim that he acted willfully when allegedly ripping off lenders and investors.

  • October 10, 2024

    Back-To-Back Storms Expose Outdated NFIP Holes, Pro Says

    The one-two punch of hurricanes Helene and Milton should give policymakers another reason to bolster the country's leading flood insurer and rethink water risks, according to Chad Berginnis, executive director of the Association of State Floodplain Managers and a leading figure among flood loss reduction professionals. Here, Law360 talks to Berginnis about how the back-to-back storms lay bare the country's flood risks.

Expert Analysis

  • How Cannabis Cos. Can Comply With NJ Industrial Site Law

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    As New Jersey’s recreational cannabis market flourishes, manufacturers that may be subject to a state environmental law must take extra precautions to mitigate potential liabilities and costs, including for historical contamination, says Matthew Karmel at Offit Kurman.

  • IRS' Cost Method Update Is Favorable For RE Developers

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    The Internal Revenue Service's recent update to its alternative cost method will allow real estate developers to accelerate their cost recovery of improvements in certain circumstances and make it easier for practitioners to satisfy the method's tax compliance requirements, says Benjamin Oklan at Weil.

  • Commercial Landlords Should Approach Self-Help Carefully

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    Although on the surface lease provisions give landlords the right to recover possession of leased premises when a commercial tenant falls behind on rent, blind reliance on such language can lead to trouble and self-help should be exercised with great caution, says Knox Withers at Arnall Golden.

  • As The Metaverse Expands, Bankruptcy Questions Arise

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    Restructuring and bankruptcy happen in the metaverse, too — and the uncertain and evolving rules of digital ownership could have surprising effects on who gets paid, with increasing tension between platforms and users, say Kizzy Jarashow and James Lathrop at Goodwin.

  • Establishing A Record Of Good Faith In Mediation

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    Viacom v. U.S. Specialty Insurance, and other recent cases, highlight the developing criteria for determining good faith participation in mediation, as well as several practical tips to establish such a record, says Richard Mason at MasonADR.

  • How Crypto-Friendly Bank Failures Will Change Tech Industry

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    The recent failures of Silicon Valley Bank, Signature Bank and Silvergate Capital are likely to result in significant shifts in how the global tech industry and its financial partners address legal, compliance, regulatory and business risks, says Erin Bryan at Dorsey & Whitney.

  • Top Questions, And Lessons, After Banking's Wild Weekend

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    While regulators alleviated some immediate concerns related to Silicon Valley Bank and Signature Bank, even companies with minimal exposure to the failed institutions should monitor unfolding policy changes, cash management issues and increasing scrutiny on risk disclosures for public companies, say attorneys at Morgan Lewis.

  • Everyrealm Case Spurs Big Workplace Arbitration Questions

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    If a New York federal judge's recent textualist ruling in Johnson v. Everyrealm denying arbitration of an entire employment lawsuit is appealed and upheld, it could set the stage for significant impairment of the enforcement of arbitration agreements, says Rex Berry at Signature Resolution.

  • A Look At The Feds' Extraordinary Reaction To SVB Collapse

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    With the receiverships of two banks in almost as many days, the emerging pattern of regulatory response holds the banking sector as a whole responsible for losses at individual institutions, a scenario that may not end with special assessments to cover Silicon Valley Bank and Signature Bank, say attorneys at WilmerHale.

  • Insureds Must Prep For Drought-Related Service Interruptions

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    Amid the ongoing U.S. water crisis, corporate policyholders must prepare for the emerging risk of service interruption property damage and time element loss, including through careful examination of their current and renewal property policies, says Micah Skidmore at Haynes Boone.

  • How To Select The Right Arbitrator For A Construction Dispute

    Excerpt from Practical Guidance
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    In construction disputes, selecting an arbitrator is a critical decision with many nuances to consider, as different types of potential panelists all come with their own experiences, views and possible biases, says Edward Gentilcore at Blank Rome.

  • Combating Russia's Evolving Sanctions Evasion Efforts

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    As the war in Ukraine enters its second year, Russia and its oligarch class will continue their attempts to elude sanctions, and regulators from the U.S. and allied nations will keep searching for ways to beat them back, say Ian Herbert at Miller & Chevalier and Brad Dragoon at Charles River.

  • Lessons In Chancery Toss Of Claims Against CoreLogic CEO

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    Attorneys at Fried Frank discuss key takeaways for boards, including justifications for accepting a lower takeover offer, following the Delaware Chancery Court's recent dismissal of claims that the ex-CEO of CoreLogic breached fiduciary duty during his $6 billion take-private sale of the company.