Residential

  • November 06, 2024

    Developer Raises $171M For Affordable Housing Projects

    The Richman Group Affordable Housing Corp. announced that it has raised $171.5 million in equity, which will allow the company to acquire, rehabilitate and construct 15 affordable housing properties in as many states.

  • November 06, 2024

    JV Nabs $110M Refinancing For NYC Multifamily Portfolio

    A joint venture between Davean Holdings and Meadow Partners landed a $110 million refinancing of a New York City multifamily portfolio from Hudson Bay Capital, according to Walker & Dunlop, which facilitated the refinancing.

  • November 06, 2024

    Capital Markets Bounce Back For Big Four Brokers In Q3

    After predicting a return of capital markets activity in the second half of 2024, commercial real estate's big four brokers reported that buyers and sellers are finally returning to the market in announcing third quarter results recently.

  • November 06, 2024

    Ga. Judge Trims Insurer's Shooting Coverage Claims

    A Georgia federal judge Wednesday threw out as premature AMCO Insurance Co.'s claim asserting it has no duty to indemnify an apartment complex facing litigation after a resident was struck by multiple bullets while sleeping, but left in place its claim it has no duty to defend the complex.

  • November 06, 2024

    FINRA Fines Firm Over Lax Real Estate Investment Diligence

    The Financial Industry Regulatory Authority ordered broker-dealer XP to pay $800,000 in restitution and penalties to settle claims that, among other things, it recommended investments in a series of real estate-focused private placements without conducting proper due diligence on them, leading to investor losses when the offerings flopped.

  • November 06, 2024

    NJ Authorizes Sharing Property Tax Info To Calculate Credits

    New Jersey authorized the sharing of taxpayers' unredacted property tax information to calculate tax credits as part of a property tax relief program under a bill signed by Democratic Gov. Phil Murphy.

  • November 06, 2024

    MVP: Cadwalader's Holly Chamberlain

    Holly Chamberlain led teams from Cadwalader Wickersham & Taft LLP in advising major lenders on several significant deals this year, including the origination of three mortgage loans worth a combined $3.1 billion as part of Blackstone's $10 billion take-private transaction of multifamily owner AIR Communities, earning her a spot as one of the 2024 Law360 Real Estate MVPs.

  • November 06, 2024

    Calif. Voters Won't Rethink City Borrowing Tool For Housing

    California voters on Tuesday rejected Proposition 5, a ballot initiative that would have amended the state's constitution to make it easier for municipalities to borrow the money needed to fund affordable housing and infrastructure work.

  • November 05, 2024

    An Early Look At Trump's Supreme Court Shortlist

    With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.

  • November 05, 2024

    GOP's Senate Win Hands Future Of The Judiciary To Trump

    Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees. 

  • November 05, 2024

    Florida, Georgia, Others Peel Back Real Estate Taxes

    Voters in seven states approved a spate of real estate tax ballot initiatives on Election Day, including measures that would curb property taxes for veterans, residential property owners and residents of municipalities that fail to enforce nuisance laws. 

  • November 05, 2024

    California Voters Reject Cities' Rent Control Authority

    California voters on Tuesday rejected Proposition 33, a ballot initiative that would have expanded local governments' authority to enact rent control measures but that opponents argued would have made the state's housing crisis worse.

  • November 05, 2024

    Miami Condo Owners Sue Over 'Dangerous' Conditions

    A nonprofit representing a group of Miami luxury condominium residents sued the building's owners in Florida state court for allegedly neglecting the building's conditions for years, putting the building at risk of collapsing.

  • November 05, 2024

    Management Co. Says Insurer Can't Duck HOA Fire Coverage

    A property management company has taken an Auto-Owners Insurance unit to North Carolina federal court for allegedly trying to pull back defense and indemnity coverage it had already been providing in an underlying lawsuit brought by a homeowners' association over a 2021 fire, arguing that it's too late for the insurer to back out.

  • November 04, 2024

    NYC Council Adds Affordability Plan To Resi Zoning Debate

    The New York City Council unveiled the outline of a plan it says would ensure more affordable and livable housing, adding that the proposal augments Mayor Eric Adams' housing zoning reform plan.

  • November 04, 2024

    Shell Slips Negligence Claim In Pa. Nuisance Lawsuit

    Neighbors of Shell Chemical Appalachia's Western Pennsylvania ethylene cracker plant will need to be more specific about dust and pollution affecting their homes if they want to revive a negligence claim that a federal court struck from a proposed class action Monday.

  • November 04, 2024

    Colo. AG Underestimates Tenants, Rental Home Group Says

    A trade group has argued that Colorado's attorney general views tenants as "unsophisticated consumers" when he told the state Supreme Court that a group of tenants should be able to sue Blackstone subsidiaries over lease terms exchanging maintenance work for a rent discount.

  • November 04, 2024

    Calif. Sues Los Angeles Suburb Over Homeless Shelter Ban

    California on Monday sued the Los Angeles County city of Norwalk, arguing a law it enacted in August banning new shelters, single-room developments and other forms of supportive housing violates regulations meant to address the state's housing crisis.

  • November 04, 2024

    DC Makes Housing Tax Break Competitive Process Permanent

    The District of Columbia made permanent its temporary authorization of a competitive process for tax abatements for housing developments under legislation signed by the mayor, though the measure is subject to congressional review before it becomes law.

  • November 04, 2024

    NYC Real Estate Week In Review

    Sullivan & Cromwell and Meltzer Lippe are among the law firms that guided the largest real estate deals that hit New York City records last week, a slow period that saw only four transactions north of $15 million become public.

  • November 04, 2024

    GrayRobinson Adds Trio Of Attys To Tampa Office

    GrayRobinson PA announced Monday that it has boosted its local government, education and commercial litigation offerings with three hires for its Tampa office — two new shareholders and a senior associate.

  • November 04, 2024

    Mortgage Co. Accused Of 'Bad Faith' In Settlement With Atty

    A former staff attorney with a mortgage company has accused the business of "bad faith" for purportedly trying to renegotiate the terms of a settlement to resolve her Texas state lawsuit alleging she was fired after she witnessed inappropriate sexual behavior by a deputy general counsel.

  • November 04, 2024

    Haynes Boone Hires 3 More RE Attys From Holland & Knight

    Haynes and Boone LLP has hired a trio of attorneys from Holland & Knight LLP in Dallas and Northern Virginia, saying Monday that their additions will complement the firm's real estate and finance offerings.

  • November 04, 2024

    IRS Finalizes Seized Property Rules To Include Online Sales

    The Internal Revenue Service issued final rules Monday meant to modernize regulations governing the seizure of property by levy, including facilitating the online sale of a property and the agency's ability to maximize sale proceeds for the property owner's benefit.

  • November 01, 2024

    Property Plays: Energy Capital, Flatiron, CareTrust

    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.

Expert Analysis

  • In The CFPB Playbook: The Bureau In The Courts

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    From defending the constitutionality of its funding and the scope of its rulemaking authority in the courts to releasing more nonbinding guidance, the Consumer Financial Protection Bureau had a busy summer. Orrick's John Coleman discusses all this and more in the second installment of quarterly bureau activity recaps by former CFPB personnel.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

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    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • What To Consider When Converting Calif. Offices To Housing

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    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • 9 Consumer Finance Issues To Note From CFPB Report

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    A recent report from the Consumer Financial Protection Bureau highlights abusive consumer finance tactics that the agency uncovered during supervisory examinations over the last year — among the most significant issues identified: deceptive practices in automotive loan servicing, and consumer reporting and debt collection compliance failures, say attorneys at Troutman Pepper.

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.

  • Ore. Warranty Ruling Complicates Insurance Classification

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    The Oregon Court of Appeals' recent TruNorth v. Department of Consumer and Business Services holding that a service contract — commonly referred to as an extended warranty — covering commercial property is subject to the state's consumer service contract laws raises regulatory questions for contract obligors, sellers and administrators, say attorneys at Locke Lord.

  • FCRA Legislation To Watch For The Remainder Of 2023

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    If enacted, pending federal and state legislation may result in significant changes for the Fair Credit Reporting Act landscape and thus require regulated entities and practitioners to pivot their compliance strategies, say attorneys at Troutman Pepper.

  • Regulators Must Get Creative To Keep Groundwater Flowing

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    Even as populations have boomed in Sun Belt states like Arizona, California and Texas, groundwater levels have diminished due to drought and overuse — so regulators must explore options including pumping limits, groundwater replenishment and wastewater reuse to ensure future supplies for residential and commercial needs, says Jeffrey Davis at Integral Consulting.

  • What Upholding Of Short-Term Rental Law Means For NYC

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    A New York state judge's dismissal of Airbnb's challenge against the Short-Term Rental Registration Law will benefit the city's hospitality industry and exert downward pressure on apartment rents, and potentially provide a model for other local governments around the U.S. to curb short-term apartment rentals, says Alexander Lycoyannis at Holland & Knight.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Fair Lending Activity: Calm On The Surface, Churning Below

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    The Consumer Financial Protection Bureau's recently released annual fair lending report to Congress confirms that despite the paucity of public fair lending enforcement actions in 2022, the CFPB and prudential banking agencies are engaged in significant nonpublic oversight, examination and enforcement activities, say attorneys at Cooley.

  • 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.

  • 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.