Commercial

  • March 04, 2024

    REIT Agrees To Hand Off 7 Hotels In $144M Default Suit

    A New York federal judge has granted a trustee's motion for default judgment against affiliates of borrower Ashford Hospitality Trust — accused by the trustee of failing to repay loans worth $144 million — with the judge also appointing a receiver to oversee the seven hotel properties secured by the loans.

  • March 04, 2024

    Activist Investors Up Macy's Takeover Offer To Roughly $6.6B

    Arkhouse Management Co. and Brigade Capital Management have boosted their offer to buy Macy's to roughly $6.6 billion from $5.8 billion, propelling the retailer's stock to a nearly 14% rally on Monday.

  • March 04, 2024

    Md. House OKs Local Property Tax Credit Options

    Local governments in Maryland could award tax credits for certain properties that are used for housing homeless people or have undergone health and safety improvements under legislation passed by the state House of Delegates.

  • March 04, 2024

    REIT Adds Board Posts To End Contest With Activist Investor

    Healthcare real estate investment trust Ventas Inc. has agreed to add two new board members in a one-year deal to end a campaign for changes at the firm from an activist investor hedge fund that has accused the REIT of lagging behind its industry peers.

  • March 04, 2024

    Dentons Brings New Real Estate Partner Into DC Office

    Dentons has hired Hogan Lovells partner Kim Pagotto for its real estate practice in its District of Columbia office, the firm announced Monday.

  • March 04, 2024

    Real Estate Group Of The Year: Weil

    Real estate attorneys at Weil played key roles in Micron Technology's development of a $100 billion semiconductor factory, Kroger's proposed $24.6 billion merger with fellow supermarket giant Albertsons and Brookfield's $8 billion sale of Westinghouse Electric Co., earning their practice a spot among Law360's 2023 Real Estate Groups of the Year.

  • March 04, 2024

    Philly Life Sciences Sector Development Stalled In Q4

    Philadelphia's life sciences industry saw a decrease in development and leasing in the fourth quarter due to a lack of venture capital investment in the first half of 2023, according to a CBRE report.

  • March 04, 2024

    NC Law Firm CEO Dies In Crash Amid Stolen Funds Probe

    The CEO of North Carolina-based real estate law firm Washburn Law PLLC, which declared bankruptcy in the midst of an ongoing investigation into millions of dollars in stolen client funds, died in a car crash Saturday.

  • March 04, 2024

    Calif. Developer Five Point Picks Legal Officer As COO

    Irvine, California-based real estate company Five Point Holdings LLC said Mike Alvarado will take over as its chief operating officer while retaining his roles as chief legal officer, vice president and secretary.

  • March 04, 2024

    Trump's Former Finance Chief Pleads Guilty To Perjury

    Allen Weisselberg, the longtime former financial chief of Donald Trump's real estate business empire, admitted Monday to lying under oath in the New York attorney general's civil fraud case as part of a plea deal to serve five months in jail.

  • March 01, 2024

    NYC Real Estate Week In Review

    Hart Law, Dentons and Miller Leiby are among the law firms that worked on the largest New York City deals that hit public records this week, a period that saw only seven transactions north of the $10 million mark with more than half being residential condo deals.

  • March 01, 2024

    Wash. Judge Doubts Public Was Shut Out Of Shelter Plan

    A Washington state appellate judge on Friday asked opponents of a plan to turn a hotel near Seattle into a shelter for homeless people why a pair of community meetings weren't enough to meet King County's obligation to listen to public feedback. 

  • March 01, 2024

    Mich. Wineries Crush Town's Live Music, Catering Bans

    A Michigan federal judge has again ruled that a township's bans on wineries hosting amplified live music and catering are preempted by state regulations, narrowing a long-running zoning dispute ahead of an April trial.

  • March 01, 2024

    Hospitality REIT Inks $171M Hotel Sale Amid Debt Distress

    Ashford Hospitality Trust Inc. will sell a Hilton property in Boston for $171 million, in the latest among a spate of properties being sold or handed off to lenders as the real estate investment trust looks for a path out of a pandemic-related hole.

  • March 01, 2024

    Easement Cases To Put IRS-Hired Appraisers Under Scrutiny

    Some partnerships challenging the denial of tax deductions for conservation easement donations are mounting a new attack on the IRS' push to enforce the transactions with claims that the agency's multimillion-dollar contracts with third-party appraisal firms compel them to be biased toward the government. 

  • March 01, 2024

    Real Estate Group Of The Year: Simpson Thacher

    Thanks to its role advising on multiple deals north of the $10 billion mark, Simpson Thacher & Bartlett LLP has earned a spot as one of Law360's 2023 Real Estate Groups of the Year.

  • March 01, 2024

    Judge Sanctions Group In Latest Suit Over Tribal Hotel Project

    A California federal judge has put plaintiffs "on notice" with sanctions in rejecting their latest lawsuit accusing San Diego's Catholic bishop of disturbing their family remains by building a hotel next to a casino at a site east of San Diego owned by the Jamul Indian Village tribe.

  • March 01, 2024

    Real Estate Lawyers On The Move

    Dorsey & Whitney, Akerman and Cox Castle are among the firms that have made recent construction or real estate hires.

  • February 29, 2024

    Fed. Circ. Won't Revive Flood Suit Over Cherokee Casino

    A Federal Circuit Court of Appeals panel on Thursday denied an Oklahoma landowner's bid to overturn a lower court's ruling that the federal government isn't liable for flooding damage to her property due to activity at a nearby Cherokee Nation casino, saying that the claim requires proof that the matter is a "direct, natural or probable result" of its actions.

  • February 29, 2024

    Greenberg Traurig Advises On $6.2B Mexico Power Plant Buy

    Greenberg Traurig LLP on Thursday announced it had advised the Mexican government on the purchase of a $6.2 billion portfolio of power plants from Spanish energy company Iberdrola in a transaction that increases the state's control over electricity production.

  • February 29, 2024

    Biz Owner's $2.4M FBAR Dispute Paused For Mediation

    The U.S. government and a retired plumbing business owner mutually agreed to a 90-day stay of their $2.4 million tax dispute over foreign bank account reporting while they try to mediate a solution, a Georgia federal judge said Thursday.

  • February 29, 2024

    Fla. Lawmakers Weigh Demolition Bills For 'Unsafe' Structures

    The Florida House of Representatives is set to consider two bills aiming to make it easier for the state to demolish "nonconforming and unsafe structures" while prohibiting local governments from opposing such demolitions unless there are safety concerns.

  • February 29, 2024

    GE Denies Ties To La. Environmental Contamination Suit

    General Electric has told a Louisiana federal judge it should be freed from a lawsuit seeking to hold it liable for widespread environmental contamination caused by a since-closed pressure valve manufacturing facility in Rapides Parish, saying the property owners behind the suit are relying on a misguided theory of liability.

  • February 29, 2024

    Real Estate Group Of The Year: Kasowitz

    Recent legal victories by the real estate practice at Kasowitz Benson Torres LLP, such as confirming SL Green Realty Corp.'s $185 million arbitral award against Chinese conglomerate HNA Group and keeping the Hotel Chelsea's suit over a revoked building permit alive, earned the team a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 29, 2024

    Day Pitney Absorbs 2-Atty Real Estate Boutique In Miami

    Day Pitney LLP announced Thursday that it had absorbed a South Florida land use boutique, adding a partner who has been involved in numerous development projects in Miami's arts-focused Wynwood neighborhood.

Expert Analysis

  • New FinCEN Guide Provides Useful BOI Context For Banks

    Author Photo

    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

    Author Photo

    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Contract Disputes Recap: The Terms Matter

    Author Photo

    Stephanie Magnell and Zachary Jacobson at Seyfarth examine recent decisions from the U.S. Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals and the U.S. Court of Federal Claims, which offer reminders about the importance of including contract terms to address the unexpected circumstances that may interfere with performance.

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

    Author Photo

    As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.

  • New CMS Rule Will Change Nursing Facility Disclosures

    Author Photo

    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • What Shareholder Approval Rule Changes Mean For Cos.

    Author Photo

    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

    Author Photo

    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • ESG Around The World: Canada

    Author Photo

    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

    Author Photo

    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • Trends That Will Shape The Construction Industry In 2024

    Author Photo

    Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

    Author Photo

    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Baking Bread Makes Me A Better Lawyer

    Author Photo

    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Adjusting Deals To Reflect Shifts In The CRE Market

    Author Photo

    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.