Commercial

  • May 17, 2024

    Ohio School Board Can't Appeal Property Value To Court

    An Ohio school board is prohibited from appealing a board of revision's valuation of a property that the school board didn't own to a court of common pleas, a state appeals court ruled.

  • May 17, 2024

    Office Vacancies, Distress Persist In First Quarter

    Vacancy rates in the U.S. office market kept rising in the first quarter, with renewing tenants taking up less space since a rise in hybrid and remote work following the pandemic, according to a Colliers report.

  • May 17, 2024

    Pot Co. Can Amend Complaint Or Reply To Dismissal Motion

    A Michigan federal judge has given a cannabis company three weeks to either amend its complaint against a former business partner or respond to a motion to dismiss its claims that the former business partner sabotaged a project by convincing investors to put their money elsewhere.

  • May 17, 2024

    North Carolina County Picked For $100M Driving Resort

    A local developer is pursuing plans to build a $100 million luxury resort geared around cars that will include a 3-mile driving course linking condos on a 400-acre property in Moore County, North Carolina.

  • May 17, 2024

    Texas Justices Side With Car Dealership In Lease Dispute

    The Supreme Court of Texas reversed and remanded a landlord's win against its former car dealership tenant, ruling Friday that the dealership's $1.3 million jury verdict wasn't upended when it gave up its appeal of a separate eviction suit.

  • May 17, 2024

    Real Estate Software Startup Agora Nabs $34M In Series B

    Real estate software company Agora has raised $34 million in Series B funding, which will help it expand more quickly and enhance its investment management software products, the company announced on May 16.

  • May 17, 2024

    JPMorgan Trust Inks $48M JV For Queens Retail Center

    JPMorgan Real Estate Income Trust forked over $48 million for a 95% interest in a New York City shopping center, in a joint venture with Acadia Realty Trust, the bank announced.

  • May 17, 2024

    Blank Rome Advises On $200M Mortgage Loan For NYC Tower

    Blank Rome LLP advised on a mortgage loan deal where an entity connected to real estate company The Gotham Organization borrowed more than $200 million from Wells Fargo for a residential mixed-use tower on Manhattan's Lower East Side, according to official property records.

  • May 16, 2024

    Inside Proxy Fight That (Briefly) Ousted Hotel REIT Exec

    Here, Law360 Real Estate Authority recounts the litigious proxy fight following a failed purchase offer from an activist investor questioning the relationship of two Texas real estate investment trusts, which led to the chairman and a director being ousted for a matter of hours before being reappointed.

  • May 16, 2024

    Funko Beats Investor Suit Over Warehouse Move For Now

    Toy company Funko Inc. on Thursday beat a proposed investor class action alleging it failed to disclose accurate information about problems relocating a distribution center and updating critical software, with a Washington federal judge saying the investors have failed to prove the company's statements were false or misleading, among other things.

  • May 16, 2024

    NJ Lets Some School Districts Hike Property Taxes Above Cap

    New Jersey will allow school districts that experienced cuts in state school aid to request increases in local property tax levies above previously permitted amounts without voter approval under a bill signed by Gov. Phil Murphy.

  • May 16, 2024

    CBRE Biz's Software Liable For NY Sales Tax, Judge Rules

    A facilities management business owned by CBRE is liable for New York sales tax on its bundled services, which included sales of prewritten software, an administrative law judge said in a determination released Thursday.

  • May 16, 2024

    Oversight Hearing Adds Pressure On Calif. Insurance Chief

    Under growing pressure from Gov. Gavin Newsom and the insurance industry, California’s top insurance regulator defended its process of implementing proposals to stabilize the Golden State’s faltering homeowners insurance market.

  • May 16, 2024

    Ex-Execs Accuse Truist Of Hijacking Control Of Mortgage Unit

    Three former executives who spearheaded the real estate finance arm of Truist Financial Corp. before they left for a competitor are countersuing the bank for allegedly usurping control of the business, saying Truist then tried forcing them out to skirt paying severance.

  • May 16, 2024

    NYS Conservation Dept. Regional Leader Joins Harris Beach

    Harris Beach has brought a former Capital Region director for the New York State Department of Environmental Conservation into its commercial real estate practice, saying Thursday that he will tap his environmental knowledge to serve entities like commercial developers, institutional lenders, corporations, partnerships and nonprofits.

  • May 16, 2024

    Dechert Guides $232M Loan For Manhattan Apartments

    Dechert LLP advised on a deal in which a property owner borrowed a consolidated, amended and restated $232 million leasehold mortgage loan from JPMorgan Chase Bank for a Manhattan apartment building, according to official property records.

  • May 16, 2024

    Ex-Connecticut Budget Official Denies 22 Corruption Charges

    A former Connecticut state budget official and beleaguered attorney who oversaw millions in state school construction funds pled not guilty on Thursday to a host of corruption charges, including that he coerced contractors into paying him kickbacks.

  • May 15, 2024

    Real Estate Seller Can't Show He Was Stiffed On Commission

    A Texas appellate court ruled that a man claiming he was cheated out of a commission for assisting in a real estate sale didn't have enough to back up his claims, agreeing Tuesday that a lower court was correct in granting an early win to the property's seller.

  • May 15, 2024

    6th Circ. Frees Ex-Ohio Pol Pending Bribery Appeal

    A former member of the Cincinnati City Council convicted of bribery and attempted extortion in connection with a sports betting redevelopment project spearheaded by a former Cincinnati Bengals player can stay out of prison while an appeal plays out, the Sixth Circuit said Wednesday.

  • May 15, 2024

    Family, Cos. Seek $440M Zimbabwe Award Enforcement

    Two forestry and sawmill companies plus a family have asked the D.C. Circuit to enforce approximately $440 million of arbitral awards they won against the Republic of Zimbabwe, saying the court "plainly" has jurisdiction under the arbitration exception contained in the Foreign Sovereign Immunities Act.

  • May 15, 2024

    Special-Servicer Work Heats Up, Revealing CMBS Tensions

    As more loans head to special servicing than at any time since 2021, the loan doctors called in when CMBS deals sour — special servicers — are navigating difficult terrain. Here, attorneys, researchers and ratings agencies discuss the potential for conflicts of interest and the repercussions of aggressive tactics.

  • May 15, 2024

    Miami Not Immune To Office Distress, Foreclosure Bid Shows

    In the third in a series of stories on distressed office properties in various U.S. markets, Law360 Real Estate Authority looks at what the struggles facing a newer office building in one of Miami's hippest neighborhoods mean for one of the nation’s strongest markets.

  • May 15, 2024

    Accusations Execs Looted RE Platform To Play Out In NY

    Two directors of Fang Holdings Ltd. and their affiliates will have to face claims in New York of orchestrating a scheme to strip the Chinese operator of an online real estate portal of its value for personal gain after the court refuted arguments that the litigation belongs elsewhere.

  • May 15, 2024

    11th Circ. Judge Doubts Defense Of IRS Easement Notice

    An Eleventh Circuit judge was skeptical Wednesday of the government's arguments that the Internal Revenue Service could issue a notice imposing reporting requirements on potentially abusive conservation easements without soliciting public feedback that administrative law requires.

  • May 15, 2024

    Minn. Tax Court OKs Trim To Restaurant Property's Value

    A Minnesota restaurant property should have its valuation lowered after the property owner provided a more reliable appraisal report, the state Tax Court ruled. 

Expert Analysis

  • Parsing FTC's Intercontinental-Black Knight Merger Challenge

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    The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Effectual Relief Questions Linger After Section 363 Ruling

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    In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Tales From The Trenches Of Remote Depositions

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    As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.

  • 3 Alternatives To CRE Collateralized Loan Obligations

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    With current commercial real estate market conditions pushing issuers away from collateralized loan obligations, several Freddie Mac offerings should be considered as alternative exit strategies for mortgage loans secured by multifamily properties, say attorneys at Mayer Brown.

  • Ga. Banking Brief: All The Notable Compliance Updates In Q2

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    Legislation signed into law in the second quarter of the year in Georgia tackled a broad range of issues that will affect financial institutions, from money laundering and consumer protection to commercial financing disclosures and a lengthy cleanup of the banking and finance code, says Elizabeth Garner at Parker Hudson.

  • Sackett Ruling, 'Waters' Rule Fix Won't Dry Up Wetlands Suits

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    In the wake of the U.S. Supreme Court's recent ruling in Sackett v. U.S. Environmental Protection Agency narrowing the scope of Clean Water Act protections, the Biden administration is amending its rule defining "waters of the United States" — but the revised rule will inevitably face further court challenges, continuing the WOTUS legal saga indefinitely, say attorneys at Milbank.

  • Fla. Banking Brief: All The Notable Compliance Updates In Q2

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    Florida financial institutions must now navigate minimum interest rates for attorney trust accounts, restrictions on property sales to prohibited foreigners, and a ban on weighing environmental, social and governance factors to determine a customer's creditworthiness — changes that will add to banks' compliance pressures, says Patricia Hernandez at Avila Rodriguez.

  • Level Up Lawyers' Business Development With Gamification

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    With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.

  • NY, NJ Regs Give Clarity To Cannabis Investors, Ancillaries

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    Proposed laws and regulations in New York and New Jersey would clarify some previously murky legal waters, thus expanding the ability of investors, lenders and ancillary service providers to work with marijuana business in these states, say David Waxman and Heidi Urness at McGlinchey Stafford.

  • 5 Ways Firms Can Rethink Office Design In A Hybrid World

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    As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.

  • What To Expect From High Court's Whistleblower Case

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    The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will likely have widespread implications for the future of anti-retaliation whistleblower litigation, and could make it more difficult for would-be whistleblower-employees to succeed on anti-retaliation claims under the Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at Sullivan & Cromwell.