Commercial
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February 12, 2025
4 Va. Bills That Data Center Industry Insiders Should Watch
Efforts to regulate data centers in Virginia, the home of the world's biggest data center market, have largely flamed out during this year's legislative session. But some bills proposing more rules for the fast-growing industry might cross the finish line.
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February 12, 2025
Texas Real Estate Firm Closes $58M Self-Storage Fund
HPI closed its latest self-storage fund after raising more than $58 million worth of capital commitments from old and new investors, the Texas-based real estate investment firm announced Wednesday.
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February 12, 2025
Investors Returned To Capital Markets In 2024, Colliers Says
Capital markets activity built momentum throughout 2024 after property buyers and sellers began adjusting pricing following a recent turbulence, with commercial broker Colliers projecting further growth in 2025.
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February 12, 2025
Yellow Corp. Seeks OK For $15M Real Estate Sale
An investment banking advisory firm for bankrupt trucking company Yellow Corp. asked a Delaware bankruptcy court to approve three asset purchase agreements for properties owned by the trucking company that are worth $15.1 million.
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February 12, 2025
Dentons Adds Indianapolis Attorney To Energy Practice
Dentons bolstered its energy practice in Indianapolis with the hire of Matthew Neumann, an attorney advising developers, investors and other parties on energy project development in Indiana and the Midwest.
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February 12, 2025
Mass. Justices Nix Tax Break For Cargo Biz On Massport Land
A site leased by the Massachusetts Port Authority to a for-profit cargo management business is not exempt from local property taxes, the state's Supreme Judicial Court ruled Wednesday, affirming a $22 million property valuation.
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February 12, 2025
Real Estate Group Of The Year: Simpson Thacher
Attorneys from Simpson Thacher & Bartlett LLP advised Blackstone, a longtime client of the firm, on a $7 billion data center campus joint venture with Digital Realty, as well as the investment giant's $725 million sale of a Hawaii resort, earning the firm a spot among the 2024 Law360 Real Estate Groups of the Year.
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February 12, 2025
Construction Group Of The Year: Troutman
Providing counsel on the design and construction of a new Terminal One at New York's John F. Kennedy International Airport and the Big Apple's first soccer-specific stadium, as well as handling litigation over a $2 billion hydroelectric project in Chile, earned Troutman Pepper Hamilton Sanders LLP its selection as one of the 2024 Law360 Construction Groups of the Year.
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February 12, 2025
Duane Morris Leader Sees A Looming Tariff 'Tax' Debate
With price increases for certain construction materials likely coming as a result of new tariffs from the White House, contractors may start to make a tax argument in efforts to avoid shelling out additional money for projects, one of Duane Morris LLP's construction leaders told Law360 Real Estate Authority in a recent interview.
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February 12, 2025
Emerging Hot Spots In Real Estate Practices
New real estate practice areas are emerging as the commercial real estate lending landscape shifts, office landlords look to repurpose their buildings, distress plays out and a race to build data centers shows no sign of slowing.
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February 11, 2025
Calif.'s Insurance Safety Net Gets $1B Infusion For Fire Claims
California Insurance Commissioner Ricardo Lara has signed off on $1 billion in additional funding for California's FAIR Plan, the state's insurer of last resort, to ensure the plan can keep paying consumer claims to survivors of the Southern California wildfires, according to an order issued Tuesday.
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February 11, 2025
Split 6th Circ. Backs Ex-Cincinnati Politician's Conviction
A split Sixth Circuit ruled Tuesday that, although a close case, there was enough evidence to convict a former Cincinnati council member of bribery and attempted extortion in connection with a sports betting development project spearheaded by a former Cincinnati Bengals player.
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February 11, 2025
NY Judge Sides With Attorney In Golf Malpractice Row
A New York federal magistrate judge has recommended summary judgment in favor of an attorney in a legal malpractice lawsuit in which he is accused of causing the plaintiffs to lose an Arizona golf course property because he failed to file the proper bankruptcy paperwork.
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February 11, 2025
Fla. Senate Committee Advances Resilient Building Tax Credit
A Florida Senate committee unanimously voted on Tuesday to advance bills to create a resilient building tax credit program, develop guidelines for green and gray infrastructure to address rising sea levels and require public hearings for state park land management plans.
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February 11, 2025
Houston CBRE Broker Says He Was Fired For Complaints
A Houston real estate broker asked a state court to force his company to arbitrate his claims of employment discrimination and retaliation, claiming that he was fired after complaining of company actions that included a COVID-19 vaccine mandate and poor treatment of female employees.
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February 11, 2025
Vornado Sees Landlord's Market For NYC Office
Vornado Realty Trust, in a year-end call with analysts, said New York City office market conditions could lead to a "spike" in rents, while political conditions may have spurred the company to scrub mentions of diversity and inclusion from its annual filing.
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February 11, 2025
Florida Industrial Park Fully Leased With Latest Signing
Colliers said Tuesday that the 132-acre Interstate Crossroads Logistics Center became fully leased after the project broke ground in 2021.
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February 11, 2025
JLL Closes $1.1B Refinance Of Midtown Office Tower
JLL's Capital Markets team lined up a $1.125 billion refinancing on behalf of the owner and property and asset manager of a 42-story, 1.2 million-square-foot Midtown Manhattan office tower, JLL announced Tuesday.
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February 11, 2025
Colo. Bill Would Offer Spread-Out Property Tax Payment Plan
Colorado would allow residential and commercial property owners to pay taxes in four installments, rather than two, under a bill introduced in the state House of Representatives.
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February 11, 2025
NJ Bill Seeks Tax Credits For Housing At Abandoned Sites
New Jersey would create corporate and gross income tax credits for completed residential housing projects at abandoned commercial building sites under a bill introduced in the state Senate.
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February 11, 2025
NY Bill Would Direct New Tax Revenue To Property Tax Cuts
New York state would require money derived from new or increased taxes to be used to reduce local property taxes under a bill introduced in the Senate.
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February 11, 2025
Investor Oaktree Closes $16B Distressed Debt Fund
Los Angeles-based Oaktree Capital Management on Tuesday said it had closed a $16 billion distressed-debt fund aimed at providing capital to companies in a variety of industries, with Kirkland & Ellis advising.
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February 11, 2025
Liquidating REIT Sells Denver Plaza For $132.5M
Equity Commonwealth sold off its last office property, a 709,402-square-foot Denver office plaza, for $132.5 million to an unnamed buyer as it wraps up liquidation, the Chicago-based real estate investment trust announced.
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February 11, 2025
Colliers Expects Bumpy 2025 Recovery For Office Market
Commercial broker Colliers said the U.S. office sector ended 2024 with signs of stability stemming from demand for top-quality space, even as falling rents at lower-tier buildings could spell an uneven recovery.
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February 11, 2025
NYC Mayor Says Bribery Case Is Over, Despite Silent Docket
Amid an absence of activity on the court docket, New York City Mayor Eric Adams declared Tuesday that the federal bribery case against him "will no longer continue," following reports of a U.S. Department of Justice memo directing prosecutors to drop the case.
Expert Analysis
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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How Landlords Can Navigate Cannabis-Related Leases
As the cannabis industry continues to rapidly grow, landlords should consider a variety of lease terms and operational details that may help mitigate uncertainty involving federal laws, zoning restrictions and tax implications, says Kyla Baker at Holland & Knight.
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Lights, Camera, Real Estate: Preparing For Film Facility M&A
As the entertainment industry struggles to recover from multiple strikes and a decline in production, certain aspects of selling or acquiring production facilities may become important to consider, as these assets are valued very differently from typical commercial real estate properties, say attorneys at Olshan Frome.
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Corporate Liability Issues To Watch In High Court TM Case
The U.S. Supreme Court will hear arguments in a trademark dispute between Dewberry Group and Dewberry Engineers next week, presenting an opportunity for the court to drastically alter the fundamental approach to piercing the corporate veil, or adopt a more limited approach and preserve existing norms, say attorneys at Bracewell.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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A Legal Perspective On NYC's Retail Real Estate Evolution
As New York City's retail market begins to show signs of resilience after the challenges of recent years, landlords must be cognizant of legal implications from shifting trends toward shorter-term leases and pop-up stores, says Andrea Gendel at Pryor Cashman.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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NYC Hotel Licensing Law's Costs May Outweigh Its Benefits
A hotel licensing bill recently approved by New York's City Council could lead to the loss of many nonunionized hotels that cannot afford to comply, says Stuart Saft at Holland & Knight.