Commercial
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February 24, 2025
Holland & Hart Bolsters Real Estate Practice In Denver
Holland & Hart LLP said it has added real estate attorney Heather Park Meek as a partner in its Denver office.
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February 24, 2025
Apple To Invest $500B In US Over 4 Years As Tariffs Mount
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for its products, and threatened tariffs on semiconductors.
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February 24, 2025
Blackstone Paying $5.65B For US Marina Servicing Giant
Blackstone has agreed to acquire Dallas-based Safe Harbor Marinas, the largest marina and superyacht servicing business in the U.S., from Sun Communities Inc. for $5.65 billion, the companies said Monday.
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February 24, 2025
Penn National Settles NC Hurricanes Coverage Suit
Penn National Mutual Casualty Insurance Co. settled a property owner's insurance payout suit filed in North Carolina federal court just before the suit headed to trial.
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February 24, 2025
NYC Real Estate Week In Review
DLA Piper and Lippes Mathias are among the law firms that scored work on the largest New York City real estate deals that hit public records last week, a group of transactions that included a nine-figure Manhattan commercial deal and multiple hotel trades.
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February 24, 2025
Mass. City Says Ex-Team Owners Reneged On Stadium Fees
The city of Brockton, Massachusetts, claims in a lawsuit filed in state court that the former owners of a minor league baseball team owe the economically struggling community more than $68,000 for the use of a city-owned stadium for games and a concert last year.
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February 24, 2025
Minn. Tax Court Boosts Parking Lot Value, Citing Own Error
The Minnesota Tax Court boosted its previous valuation of a Minneapolis parking lot, agreeing with a county assessor that it erred when it allowed a downward adjustment to its previous finding.
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February 24, 2025
Yellow Corp. Gets OK To Sell More Terminals For $15.1M
A Delaware bankruptcy judge has signed off on Yellow Corp.'s $15.1 million sale of trucking terminals and other property to three buyers, as the defunct trucking company looks to add to the more than $2 billion it has already brought in from asset sales in Chapter 11.
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February 24, 2025
Justices Turn Away Challenge To Philly Gun Shop Ban
The U.S. Supreme Court said Monday it won't take up a Philadelphia gun range's challenge to a city rule banning gun shops in residential neighborhoods, after a Pennsylvania appellate court said in 2024 that the Second Amendment didn't cover zoning rules restricting where firearms could be sold.
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February 21, 2025
Appeals Court Says No Contract Dooms Ranch Sale Challenge
A Texas appeals court found no grounds to revive most of the rejected claims a land brokerage lodged against the owners of a 1,200-acre ranch and their real estate and escrow agents after its attempt to buy the property fell through.
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February 21, 2025
Property Plays: GSA, United Center, Coney Island
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.
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February 21, 2025
Md. Senate OKs Tax Break For Service Station Conversions
Certain retail service stations in Maryland converted to other uses would be eligible for local property tax breaks under legislation approved by the state Senate and sent to the House.
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February 21, 2025
VICI Bets On Immersive Real Estate
VICI Properties Inc., a real estate investment trust mostly known for its iconic Las Vegas casinos, emphasized in a call with analysts its bets on experiential real estate, which aims to create immersive experiences beyond slot machines.
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February 21, 2025
Polsinelli Adds Veteran Real Estate Atty To Boston Office
Polsinelli PC has hired a veteran real estate transactions attorney with more than two decades of experience as a shareholder for the real estate team in its Boston office, which makes her the firm's seventh real estate shareholder hire in the past 12 months.
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February 21, 2025
Lewis Brisbois Launches Corporate Landlord Practice
Lewis Brisbois Bisgaard & Smith LLP has announced the launch of a new corporate landlord practice, with two partners from Atlanta and Houston serving as co-chairs.
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February 21, 2025
Latham Advises Cain On Taking $300M One Beverly Hills Loan
Latham & Watkins LLP advised Cain International in accepting a $300 million loan from VICI Properties Inc. and Eldridge Industries on its $5.2 billion ultra-luxury urban resort, One Beverly Hills.
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February 21, 2025
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover Gaming's assets, and Barings acquires Artemis Real Estate Partners.
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February 20, 2025
Tribes Fail To Win Reversal Of Ore. Casino Project Decision
A D.C. federal judge has denied a bid by three tribes to reverse an Interior Department decision approving a land trust application for another tribe in what is Oregon's first off-reservation casino, ruling that they've failed to show how the project would harm them.
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February 20, 2025
NFIP Flood Claim Borrowing Raises Viability Concerns
FEMA's recent announcement that it was borrowing $2 billion from the U.S. Treasury to pay National Flood Insurance Program claims related to Hurricanes Helene and Milton emphasizes the insurance program's need for reform amidst threats of agency cuts under the Trump administration, experts say.
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February 20, 2025
CRE Brokers Ride 'Park Avenue Phenomenon' In Q4 Results
Commercial real estate's big brokers reported a flush of capital markets activity in the fourth quarter, with one executive crediting Park Avenue for a normalization in leasing that the brokers expect to continue in the year ahead.
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February 20, 2025
Chicago Lawmakers Give Final OK For $7B Mixed-Use Project
Chicago lawmakers reportedly gave the final green light for a $7 billion mixed-use development project headed by the DLA Piper-guided owners of the city's United Center stadium.
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February 20, 2025
Wash. Justices Say CARES Act Doesn't Shield Violent Renters
The Washington Supreme Court on Thursday said landlords did not have to give 30 days' notice under the federal Coronavirus Aid, Relief and Economic Security Act before evicting violent tenants, settling a question that had split two lower appellate panels.
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February 20, 2025
NYC Mayor Unveils Plan To Build Coney Island Homes
New York City Mayor Eric Adams revealed a new plan Feb. 20 that aims to initially build over 500 mixed-income homes in Brooklyn's Coney Island neighborhood, continuing his push for more housing amid an ongoing affordability crisis.
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February 20, 2025
NY Expands Local Power To Give Storm Damage Tax Breaks
New York state expanded municipalities' authority to provide property tax breaks to owners of property damaged by severe storms and other natural disasters by allowing that relief to be granted for small business' property as part of a bill signed by Gov. Kathy Hochul.
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February 20, 2025
Fla. Senate Bill Seeks Study On Eliminating Property Taxes
A Republican Florida state senator filed legislation that would require a state agency to study the prospects of eliminating property taxes in exchange for levying additional state and local sales taxes.
Expert Analysis
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Ch. 12 Ruling Is A Helpful Addition To Interest Rate Case Law
In its recent In re: Topp ruling, the Eighth Circuit addressed the question of which rate of interest debtors should pay under a bankruptcy plan, showing that the choice of interest rate plan is a factual issue subject to appellate review for clear error, and not a legal issue subject to de novo review, says Donald Swanson at Koley Jessen.
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Appellate Rulings Highlight Telecom Standard Uncertainties
Two recent contrasting appellate opinions in Cellco v. White Deer Township and NMSurf v. Webber — interpreting Sections 332 and 253 of the Communications Act, respectively — demonstrate the continuing uncertainty carriers face when challenging state and local requirements that may impede their provision of telecommunications services, say attorneys at Davis Wright.
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How Investors Can Seize Renewables Opportunities In RE
As governments and stakeholders increasingly focus on sustainability in the real estate sector, investors could capture significant upside by implementing an operational real estate strategy focused on renewable energy sources, say attorneys at Goodwin.
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Insurance Cos. Are Stretching Construction Standard Limits
In the construction sector, the importance of closely vetting downstream parties' insurance policies has never been more critical — owners and general contractors need to be on the lookout for ever broader carrier-specific expansions of standard insurance provisions that are perilous for risk transfer, says Eric Clarkson at Saxe Doernberger.
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Potential WeWork Bankruptcy May Disrupt Coworking Spaces
If WeWork files for bankruptcy, as hinted at in its recent quarterly earnings report, landlords may struggle to take over management of WeWork's coworking spaces, but the coworking industry as a whole is showing some promise in adapting to the market's evolving post-pandemic office needs, says Ann Chandler at Hall Estill.
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A Cautionary Tale Of Flawed Debt Accounting And SEC Fines
The U.S. Securities and Exchange Commission's recent improper-accounting charges against Malvern Bancorp and its ex-CFO highlight crucial practice issues, including the need to objectively evaluate borrowers' credit, say attorneys at Arnold & Porter.
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Bat's Newly Endangered Status Likely To Slow Development
A recent change in the classification of the northern long-eared bat from "threatened" to "endangered" could have significant effects on development in large portions of the Eastern and Southeastern U.S. — and in the absence of straightforward guidelines, developers will have to assess each project individually, says Peter McGrath at Moore & Van Allen.
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Litigation Can Facilitate EB-5 Investor Visa Determinations
Processing times in the EB-5 investor visa program continue to rise, but filing a mandamus claim in the right venue against U.S. Citizenship and Immigration Services may offer applicants mired in delay a means to expedite processing, says Mark Stevens at Clark Hill.
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Regulators Must Get Creative To Keep Groundwater Flowing
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.
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Key Provisions In Florida's New Insurer Accountability Act
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.
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Best Practices For Lenders To Limit Recourse Liability
As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.
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The Basics Of Being A Knowledge Management Attorney
Excerpt from Practical Guidance
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.
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Rising Interest Rates Bring Risk For Construction Contractors
With rising interest rates causing many construction projects to be slowed or halted, it's important for general contractors to implement safeguard measures against the risk of significant financial losses caused by owner-driven schedule modifications, says Kevin Riexinger at Gfeller Laurie.