Commercial

  • March 27, 2024

    Yardi Says Interest Rates Are Slowing Self-Storage Demand

    Real estate software company Yardi said tough market conditions and high interest rates are showing signs of slowing deal volume and construction for self-storage projects, although an improvement in the housing market could bring fresh demand.

  • March 27, 2024

    Real Estate Exec Asks To Toss Shareholder's Self-Dealing Suit

    The president of a real estate management and investment firm asked a California federal court to toss a derivative shareholder suit accusing him of misusing nearly $35 million of company revenue in various ways, including hiring a business he owned with his mistress.

  • March 27, 2024

    Legal Patchwork On Foreign Land Ownership Stirs Confusion

    In the last year and a half, 39 states have taken action to restrict foreign entities and people from owning various forms of real estate. Some lawyers say the patchwork of new legislation has created a quagmire of confusion, chaos and uncertainty for investors, particularly private equity funds with large pools of backers.

  • March 27, 2024

    Milbank Advises $80M NYC Met Tower Transaction

    An affiliate of GDS Development Management has finalized an $80 million mortgage covering commercial units in New York City's Metropolitan Tower in a transaction advised by Milbank LLP.

  • March 27, 2024

    Developers Get Creative With Adaptive Reuse In South Florida

    South Florida residents may not be expecting to attend a doctor's appointment in a shuttered movie theater, play pickleball in a former warehouse or move into an apartment building in a shopping center's parking lot, but creative redevelopment projects like these are catching on in the region.

  • March 27, 2024

    Extreme Heat Presents Extreme Threat To Real Estate

    Extreme heat and the growing body of risks created by climate change are becoming prominent factors in real estate deals, according to Urban Land Institute urban resilience vice president Lindsay Brugger.

  • March 27, 2024

    Berger Montague Gets New Historic Downtown DC Space

    Berger Montague is leasing new office space in downtown Washington, D.C., moving into the historic McLachlen Bank Building blocks away from Capital One Arena and the National Portrait Gallery, the firm announced Monday.

  • March 26, 2024

    Ex-LA Deputy Mayor's Fate In Bribery Trial Goes To Calif. Jury

    Former Los Angeles Deputy Mayor Raymond Chan connected corrupt public officials to wealthy developers for years as part of the "CD-14 Enterprise" racketeering conspiracy, a federal prosecutor told California federal jurors in closing arguments Tuesday, saying their shared goal was ensuring they "get money, keep power and avoid the Feds."

  • March 26, 2024

    Ski Resort Corp. Says Sheep Used As Pretext To Ruin Project

    Ski resort corporation The Vail Corp. told the Colorado Court of Appeals Monday to revive its workforce housing project after the town of Vail allegedly gave into local opposition against the project and used a local bighorn sheep herd as pretext to condemn the 23.3 acres of land that the ski resort corporation planned to use for the project.

  • March 26, 2024

    Ohio Justices Cool To Curbing Board's Tax Appeal Rights

    Two Ohio Supreme Court justices sounded skeptical Tuesday of an apartment complex's argument that a law barring political subdivisions from appealing certain valuation rulings applied to complaints that were pending when the restriction took effect.

  • March 26, 2024

    Bryan Cave Guides $69M Mortgage Deal For Brooklyn Mall

    An affiliate of real estate investor Madison International Realty borrowed $69 million from Voya Investment Management LLC in a mortgage deal guided by Bryan Cave Leighton Paisner LLP, according to official records.

  • March 26, 2024

    REIT Exec Tells 2nd Circ. To Toss $3.2M Judgment

    The co-founder of a real estate investment trust told the Second Circuit to toss the $3.2 million judgment awarded in a former partner's 2014 suit, arguing that related jury instructions were "too confusing and prejudicial."

  • March 26, 2024

    Locke Lord Gains Real Estate Attorney From Boston Boutique

    Locke Lord LLP announced the addition of a partner from the Boston-based real estate and commercial litigation boutique Nathanson & Goldberg PC, touting his combined litigation and transactional experience.

  • March 25, 2024

    Ex-LA Official Downplayed Role In Huizar Bribes, Jury Told

    An FBI agent told California federal jurors in former Los Angeles Deputy Mayor Raymond Chan's criminal trial Monday that Chan denied facilitating bribes between then-city councilor Jose Huizar and a developer when initially questioned by investigators, despite evidence showing he helped orchestrate Las Vegas trips and loans to help Huizar.

  • March 25, 2024

    Lender Wins $44M Award In Shanghai Real Estate Feud

    A California federal court has enforced a $44 million arbitral award issued to a British Virgin Islands lender as repayment for a loan to a Chinese entity to finance a Shanghai real estate project, rejecting arguments that the arbitration violated the parties' underlying agreement.

  • March 25, 2024

    Credit Suisse Sells DC Office Building For $95M

    An affiliate of Credit Suisse has closed a $95 million sale of an 11-story Washington, D.C., office building to developer and property manager Quadrangle Development Corp., according to official property records.

  • March 25, 2024

    Atlanta Wants Ex-Eatery's 'Spurious' Demolition Suit Tossed

    The city of Atlanta has asked a Georgia federal judge to dismiss a property owner's suit accusing it, its property review board and its police department of trying to illegally demolish the property, once set to become a Starbucks coffee shop, without proper notification.

  • March 25, 2024

    Atty Can Drop Alleged Schemer Who Didn't Pay For 2 Years

    A man accused of being the mastermind behind a $2 million cannabis crowdfunding scheme must find a new lawyer after stiffing his previous counsel for nearly two years, a Michigan federal judge said Monday.

  • March 25, 2024

    Shell To Divest 1,000 Gas Stations By 2025 During EV Push

    Shell PLC said it plans to offload 1,000 gas stations it owns over the next two years as it increases its investment in electric vehicle charging shops.

  • March 25, 2024

    Data Center Co. Reveals Probe Into Short-Seller Report

    Equinix Inc. said Monday in a U.S. Securities and Exchange Commission filing that it has received a subpoena from the U.S. Attorney's Office for the Northern District of California after a short seller accused the data center provider of manipulating a profitability metric — an accusation that it said it is also investigating independently.

  • March 25, 2024

    DeSantis OKs Bill Easing Teardown Of Old Coastal Buildings

    Florida Gov. Ron DeSantis has signed a bill limiting local control over the takedown and replacement of coastline structures that are out of step with building codes, after changes to the measure exempted some historic waterfront districts.

  • March 25, 2024

    Northwind Breaks Office Lending Drought With $65M Loan

    Northwind Group announced Monday it has loaned $65 million to the new owner of a 33-story Class A office building in Jersey City, New Jersey, known as Harborside 5, marking the first office loan the private equity firm has extended in three years.

  • March 25, 2024

    NYC Real Estate Week In Review

    Nesenoff & Miltenberg landed work on the largest New York City real estate deal to hit public records last week, a slow period that saw only three transactions above the $20 million mark.

  • March 25, 2024

    Minn. Bill Seeks Tax Credit For Building Conversions

    Minnesota would allow tax credits for certain costs related to the conversion of underutilized buildings to other commercial uses under legislation introduced Monday in the state Senate.

  • March 25, 2024

    Law360 2024 Real Estate Authority Editorial Board

    Law360 is pleased to announce the formation of its 2024 Real Estate Authority Editorial Board, which includes leading industry experts, to provide feedback and shape coverage goals.

Expert Analysis

  • Rare Reg A+ Fines Reflect New Era Of SEC Enforcement

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    The U.S. Securities and Exchange Commission's recent announcement of civil penalties against 10 microcap companies for violations of Regulation A+ shows that as the SEC continues to expand its enforcement efforts, its focus remains on protecting investors of all sizes — including those investing in the historically less-scrutinized Reg A+ issuers, say attorneys at Crowell & Moring.

  • Factors To Consider When Structuring Data Center Contracts

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    Data center leases and service agreements grant very similar rights and impose similar obligations, but they also hold notable differences and a range of factors that are important to consider when selecting which form of agreement to use, say attorneys at Mayer Brown.

  • Rethinking Mich. Slip-And-Fall Defense After Top Court Ruling

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    The Michigan Supreme Court recently overturned three decades of premises liability jurisprudence by ruling that the open and obvious danger defense is no longer part of a traditional duty analysis, posing the question of whether landowners will ever again win on a motion for summary dismissal, say John Stiglich and Meriam Choulagh at Wilson Elser.

  • Subchapter V Eligibility Ruling Raises Uncertainty For Tenants

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    A Virginia bankruptcy court’s recent ruling in Macedon Consulting — that all remaining rent under a lease should be factored into a lessee's Subchapter V eligibility — raises the question, but does not address, how a court should calculate the amount of debt owed under a lease, creating significant risk for potential tenant debtors, says Sam Ashuraey at Ashuraey Law.

  • Parsing Tax Implications Of NYC Office Leasing Transactions

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    Though New York City's tax laws generally do not require negotiated contractual risk allocation in the case of sublease and early lease termination transactions, it is still helpful for counsel to both landlords and tenants to understand the laws' nuances, say attorneys at Lowenstein Sandler.

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • NY's Take On Premises Insurance Policies: What's In A Name?

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    A New York appellate court's recent decision in Wesco Insurance v. Fulmont Mutual Insurance — requiring insurance coverage for a property owner not named on the policy — strengthens a state case law trend creating a practical exception in premises liability cases to normally strict requirements for coverage, says Craig Rokuson at Traub Lieberman.

  • Bankruptcy Ruling Shows Section 363's Magic Has Its Limits

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    The Ninth Circuit Bankruptcy Appellate Panel's recent ruling in Groves demonstrates that Section 363 — which allows a debtor-in-possession to sell their property in order to generate cash — fails as a tool when it’s used to turn a nondebtor entities' property into property of a debtor's bankruptcy estate, says Brian Shaw at Cozen O'Connor.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Shifts In The CRE Landscape Demand Creative Loan Solutions

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    An increase in commercial real estate loan workouts makes it critical for borrowers, lenders and other CRE participants to examine all the available options and remedies, including mortgage and mezzanine foreclosures, bankruptcy filings and property short sales, say attorneys at Goulston & Storrs.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • A Smoother Process For CRE Receiverships In Conn.

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    A newly effective Connecticut law concerning distressed commercial real estate provides a number of opportunities and strategic considerations for creditors, and should be watched even by counsel in other states as adoption of the law could become more widespread, say John Loughnane and Steven Coury at White and Williams.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.