Commercial

  • May 03, 2024

    Alterra Raises $925M For Industrial Outdoor Storage Fund

    Alterra Property Group announced that it raised nearly $1 billion for a fund that will invest in industrial outdoor storage assets, around $200 million more than the company had set out to raise.

  • May 03, 2024

    Sullivan & Worcester Finds A New Manhattan Home

    Sullivan & Worcester has announced that it has relocated its New York office, its second largest, signing a seven-year lease with a 54-story office tower just a short walk from its previous space.

  • May 03, 2024

    Brothers Accuse Cos. Of Mishandling $1.1M EB-5 Investments

    Two brothers from India sued companies behind a combination residential-resort project they invested in under the EB-5 investor visa program, telling a Florida federal court that their green card petitions were denied because the companies mishandled their $1.1 million investment.

  • May 03, 2024

    Akerman Hires Miami-Dade Atty As Chair Of Land Use Team

    Akerman LLP hired Dennis A. Kerbel, a veteran Miami-Dade County, Florida, government attorney, as the new chair of its land use and entitlements team in its Miami office, the firm announced.

  • May 03, 2024

    Debevoise, Davis Polk Guide Windstream, Uniti Merger

    Uniti Group Inc., advised by Davis Polk & Wardwell LLP, on Friday unveiled plans to merge with Debevoise & Plimpton LLP-led telephone service company Windstream Holdings II LLC in a deal that includes a $425 million cash component, $575 million in preferred equity and a minority share in common equity of the combined company.

  • May 03, 2024

    Terreno Realty Buys $364.5M Industrial Portfolio

    San Francisco-based Terreno Realty Corp. said Friday that it has purchased a portfolio of industrial properties in New York City, northern New Jersey, the San Francisco Bay Area and Los Angeles for $364.5 million.

  • May 02, 2024

    Over $2.6B In Dirty Money Hidden In Commercial Real Estate

    The U.S. has seen at least $2.6 billion of commercial properties used in known money laundering cases over the last two decades, a figure that is likely below the reality and demonstrative of gaps that may exist in federal financial crimes policy, according to a report.

  • May 02, 2024

    Host Hotels Pays $530M To Buy 2 Tenn. Hotels

    Hospitality-focused real estate investment trust Host Hotels & Resorts Inc. told investors that it purchased a two-hotel Nashville, Tennessee, complex for $530 million in cash.

  • May 02, 2024

    Las Vegas A Bright Spot In A Bleak Quarter, Per VICI

    Real estate investment trusts across the board underperformed the broader market in the first quarter of 2021, and VICI Properties Inc. was no exception, executives said May 2, while noting gaming assets in Las Vegas proved to be an exception.

  • May 02, 2024

    Activist Files New Proxy Fight In REIT Takeover Attempt

    Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.

  • May 02, 2024

    Kushner-Owned Co. Owes $15M For Scrapped Apartment Deal

    A New Jersey appeals panel has ordered a company owned by Kushner Cos. LLC to pay $15 million to real estate sellers in a $186 million deal that fell apart during the COVID-19 pandemic.

  • May 02, 2024

    REIT Closes $132M Sale Of 3 Office Properties

    Net Lease Office Properties has sold three office buildings separately located in Illinois, Tennessee and Norway for $131.6 million in total in March and April, the real estate investment trust announced May 2.

  • May 02, 2024

    Simpson Thacher Adds Real Estate Partner In NY

    Simpson Thacher & Bartlett LLP said on May 2 that it has hired Aron M. Zuckerman, an attorney with experience advising lenders in financing real estate projects, as a partner in its New York office.

  • May 02, 2024

    DLA Piper Investment Funds Leader Joins Willkie In Chicago

    Willkie Farr & Gallagher LLP has announced that the former co-head of DLA Piper's investment funds practice joined the firm's asset management group as a partner in its Chicago office. 

  • May 02, 2024

    Walker & Dunlop Wraps Up $155M Refi For Historic NYC Hotel

    Walker & Dunlop Inc. closed a $155 million refinancing for a joint venture that owns New York City's historic 28-story Lexington Hotel, the commercial real estate finance and advisory firm announced May 2.

  • May 02, 2024

    Real Estate Lawyers On The Move

    Kirkland, Neal Gerber and Forchelli Deegan are among the law firms that have made recent real estate or construction hires.

  • May 02, 2024

    New DC Stadium A Step Closer With RFK Demolition Approved

    RFK Stadium in Washington, D.C., has been cleared for demolition by the National Park Service, another step forward in the city's attempt to build a new stadium to lure back the NFL's Washington Commanders.

  • May 01, 2024

    Ex-State Dept. Adviser To Co-Lead Klasko's Investor Visa Team

    A former U.S. Department of State attorney-adviser has left government service to co-lead Klasko Immigration Law Partners' EB-5 regional center and developer practice, the firm recently announced.

  • May 01, 2024

    Gibson Dunn, Greenberg Guide Blackstone's Fla. Hotel Buy

    A Blackstone entity has purchased a 346-room Fort Lauderdale, Florida, hotel from an affiliate of The Related Cos. LP, in a deal advised by Gibson Dunn & Crutcher LLP and Greenberg Traurig LLP, according to public records.

  • May 01, 2024

    99 Cents Pursues $2.5M Store Leases Sale To Dollar Tree

    Discount retail chain 99 Cents Only urged a Delaware bankruptcy court Wednesday to let it accept a $2.5 million offer from Dollar Tree to potentially take over the debtor's leases at 58 recently closed stores, as it works to quickly wind down in Chapter 11.

  • May 01, 2024

    Clean Energy Manufacturer Plans $400M Va. Factory

    Global clean energy manufacturer Topsoe will invest over $400 million to build a factory in Virginia's Chesterfield County, the state's Gov. Glenn Youngkin announced May 1.

  • May 01, 2024

    Construction Spending Down In March, Census Bureau Says

    National construction spending was down slightly between February and March, falling 0.2% to just more than $2.083 billion, which is still nearly 9.6% higher than this time last year, the U.S. Census Bureau reported Wednesday.

  • May 01, 2024

    Venues Ask 2nd Circ. For Cover From NYC XXX Rules

    A group of adult entertainment companies told the Second Circuit that a New York judge overlooked free speech harms and procedural hurdles in upholding a set of 2001 rules limiting where they can do business.

  • May 01, 2024

    NJ Atty Fights 'Hare-Brained' Malpractice Claims In RE Dispute

    A suspended New Jersey attorney is seeking summary judgment and sanctions for a "hare-brained" attempt by Chaitman LLP to mount a third-party complaint holding him liable for allegedly providing bad legal advice that prompted a malpractice case between Chaitman and former clients.

  • May 01, 2024

    DLA Piper Adds Ex-Sidley Atty To New Funds Team

    DLA Piper on Tuesday announced another addition to its newly formed stand-alone investment funds group, this time a former Sidley Austin LLP partner focused on advising private funds sponsors.

Expert Analysis

  • The Year Ahead In Foreign Investment And National Security

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    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • Sale-Leasebacks May Provide A Safe Financing Alternative

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    Amid rising interest rates and unpredictable market conditions, sale-leasebacks can be a useful investment option for both buyers and sellers, though their potential drawbacks demand careful consideration, says Chanel Di Blasi at Crosbie Gliner.

  • 5 Recent Developments Family Offices Are Watching In 2024

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    Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.

  • A Challenging CRE Environment Holds Opportunities In 2024

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    As the commercial real estate market faces reduced occupancy levels and rising financing costs, the new landscape will be favorable to those who can leverage capital, strategic vision and expertise to meet challenges like taking on distressed properties and converting office space to residential use, say Nesa Amamoo and Vered Rabia at Skadden.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • 3 Developments That Will Affect Hospitality Companies In 2024

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    As the hospitality industry continues its post-pandemic recovery, it faces both challenges and opportunities to thrive in 2024, including navigating new labor rules, developing branded residential living spaces and cautiously embracing artificial intelligence, says Lauren Stewart at Sheppard Mullin.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • The 4 Top Philadelphia Commerce Court Opinions Of 2023

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    Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • 5 Traps To Avoid When Selling CRE In Las Vegas Area

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    When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.

  • 'Brownfields' Definition Key To Energy Community Tax Credits

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    As the IRS rolls out guidance for claiming community energy tax credits under the Inflation Reduction Act, a review of the long-standing statutory definition of "brownfields" reveals that it continues to serve the goal of creating opportunities for investment in abandoned properties, says Louise Dyble at Sheppard Mullin.