Commercial

  • July 11, 2024

    Ross Steps Down At Related Cos. To Run Florida-Based Firm

    Stephen M. Ross, a giant in the real estate development world, is stepping away from his leadership role as chairman of Related Cos., which he founded in 1972, to focus on the South Florida market as the head of a new firm.

  • July 11, 2024

    Pa. Condo Owner Group Takes Inner-Tower Conflict To Court

    The residents association of a downtown Pittsburgh condo building sued the building's commercial association in state court, alleging they have been improperly denied access to commercial sections of the building needed to complete HVAC repair work.

  • July 11, 2024

    CLO Holder Can't Duck Portfolio Manager's Feud Just Yet

    A New York federal court has refused to finalize a February decision dismissing all claims against an investment scheme created to hold collateralized loan obligations whose liquidation is at the center of a sprawling dispute.

  • July 11, 2024

    3 Firms Lead Brookfield's $1.3B DRA Industrial Buy

    Gibson Dunn & Crutcher LLP advised Brookfield on a $1.3 billion purchase of a 128-property industrial portfolio from DRA Advisors LLC, which retained Blank Rome LLP, while Dechert LLP represented those financing the deal, Law360 learned Thursday.

  • July 11, 2024

    'Bridgegate' Defense Offers Road Map For NJ RICO Case

    Counsel for the powerful New Jersey mogul and Democratic operatives facing explosive racketeering charges are likely to justify their actions as just business, experts told Law360, describing defense tactics similar to the ones that absolved defendants in "Bridgegate," New Jersey's most notorious politics-fueled crime in recent history.

  • July 11, 2024

    Golf Club Investment Co. Buys Up NJ Golf Club And Mansion

    Golf club-focused investment company Concert Golf Partners purchased a private 222-acre golf club and mansion located in Princeton, New Jersey, near Princeton University, the Florida-based company announced.

  • July 11, 2024

    Bilzin Sumberg Advises $70M Refi On Luxury Miami Office

    Miami-based developer CMC Group has taken out a $70 million loan to refinance its 4000 Ponce nine-story, Class A office and retail building in a transaction advised by Bilzin Sumberg Baena Price & Axelrod LLP.

  • July 10, 2024

    Washington Justices To Tackle CARES Act Eviction Split

    Washington's Supreme Court has agreed to review whether the CARES Act eviction notice only applies to tenants who are late on rent, and not to violent tenants targeted by landlords for quick removal.

  • July 10, 2024

    NJ Panel Says Tax Amendment Challenge Had No Real Claim

    A New Jersey state appeals court on Wednesday tossed a challenge to an amendment blocking certain appeals from being litigated in the state's tax court, reasoning that parties can still fight tax matters in trial court.

  • July 10, 2024

    Co. Wants 'Duplicative' $18.8M Theft Coverage Suit Tossed

    A Georgia shopping center owner involved in coverage disputes with its insurer after suffering an $18.8 million theft and vandalism loss asked a Georgia federal court to dismiss or stay its insurer's case until its own prior Texas state loss coverage action against the carrier is decided.

  • July 10, 2024

    Federal Claims Tossed In Colo. Short-Term Rental Row

    A Colorado federal judge partially dismissed and remanded a suit filed by a nonprofit representing vacation rental owners who claim that a resort town's laws governing short-term rental licenses are overly restrictive.

  • July 10, 2024

    Developers Nab Va. Warehouse Financing, Break Ground

    Real estate investment firm Turnbridge Equities announced that it and development partner Manekin LLC have secured funding for the construction of a logistics center in Hampton, Virginia under the guidance of McDermott Will & Emergy LLP, and have broken ground on the project. 

  • July 10, 2024

    Move-Ins Up, Vacancies Down For South Florida, JLL Says

    JLL said in a set of updates released Wednesday on South Florida's office market that Miami-Dade and Fort Lauderdale saw positive net absorption and falling vacancies, while exclusive Palm Beach island boasted a vacancy rate of just 4.2% in the second quarter.

  • July 10, 2024

    McDermott-Led H.I.G. Secures $1.3B For 3rd Real Estate Fund

    Private equity shop H.I.G. Capital, advised by McDermott Will & Emery LLP, on Wednesday announced that it closed its third European real estate-focused fund after raising roughly $1.3 billion of capital commitments.

  • July 10, 2024

    Ohio Board Boosts Value Of Wendy's Property To $2.1M

    An Ohio city and school board proved that a property housing a newly constructed Wendy's restaurant was undervalued based on comparable properties in the area and that its value should be increased to $2.1 million, the state's Board of Tax Appeals ruled.

  • July 10, 2024

    Mass. Justices Say Intent Not Factor In Boston Appeal Bonds

    Boston's zoning law does not require that courts make a finding of bad faith before ordering a challenger to post a bond, Massachusetts' highest court concluded on Wednesday in a case involving the appeal of the issuance of a cannabis dispensary permit.

  • July 10, 2024

    The Real Estate Bankruptcies Making Headlines This Year

    The real estate industry is no stranger to distress, but recent market headwinds have made it even harder for certain companies to chart the course to calmer seas. Catch up on the major real estate bankruptcy developments that have made headlines so far this year.

  • July 10, 2024

    Real Estate Fundraising Charts Slow Recovery

    Private real estate fundraising remains fairly weak at the midpoint of the year, though investors have been building more of an appetite for the property industry that should lift prospects in the coming months.

  • July 10, 2024

    Tarter Krinsky Advises $178M NYC Office Tower Buy

    Tarter Krinsky & Drogin LLP guided Sovereign Partners' $178 million purchase of a 50-story office building at 780 Third Ave. in Manhattan.

  • July 10, 2024

    Pa. Developer's Heirs, Foundation Can't Appeal Fee Denial

    The Supreme Court of Pennsylvania won't take up a fee dispute stemming from a disagreement over the control of a foundation established by Pittsburgh developer Jack Buncher.

  • July 10, 2024

    Sheppard Mullin Adds Winston & Strawn Real Estate Duo

    Sheppard Mullin Richter & Hampton LLP has strengthened its real estate, energy, land use and environmental practice with two partners in Houston who joined from Winston & Strawn LLP.

  • July 10, 2024

    5 Airport Building Projects That Scored Federal Grants

    Five U.S. airports are receiving federal funding for building projects as airports look to upgrade their terminals and baggage systems.

  • July 10, 2024

    Cushman's Retail Leader Talks Malls' Evolution

    What do a pickleball court, a beer garden, a boxing ring and a hospital have in common? Depending on where you are in the U.S., you may come across any one of these at your local shopping mall, said Cushman & Wakefield's retail practice group leader.

  • July 09, 2024

    NY Judge In Trump Case OKs Narrow Subpoena For Atty

    An attorney who told reporters he held an impromptu hallway conversation with a New York state judge in the lead-up to February's $464.6 million civil fraud judgment against Donald Trump must turn over any communications he had with the court regarding the underlying action, according to a Tuesday ruling.

  • July 09, 2024

    Indicted Ex-Conn. Official Drops Greece Vacation Plan

    Ex-Connecticut budget official Konstantinos "Kosta" Diamantis on Tuesday dropped his request for a federal judge's permission to travel to Greece while he is under indictment, withdrawing his motion one day after prosecutors objected.

Expert Analysis

  • Foreign Investment In Real Estate Is Getting More Complicated

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    Increasing federal scrutiny and a proliferation of new state laws targeting foreign investment in real estate may complicate or prevent transactions even by U.S. companies or funds that have shareholders or limited partners from China and other countries of concern, say attorneys at Akin.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • 5th Circ. Ruling Aids Insureds In Contractual Exclusion Rows

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    The Fifth Circuit's recent insurance decision in Windermere Oaks v. Allied World, in favor of coverage, provides policyholders with guidance on how to distinguish between contractual and noncontractual claims when insurers deploy broadly worded liability exclusions to deny coverage, say Max Louik and David Ledet at Reed Smith.

  • What OneMain Order Says About CFPB's Regulatory Priorities

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    The Consumer Financial Protection Bureau’s recent action against OneMain Financial Group and others reflect a continuing trend of arguably historic regulatory scrutiny for consumer lenders, and send a strong message that the CFPB is taking a tough stance against deceptive sales practices, say Felix Shipkevich and Jessica Livingston at Shipkevich.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • 2nd Circ. Reinsurance Ruling Correctly Applied English Law

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    Contrary to a recent Law360 guest article's argument, the Second Circuit correctly applied English law when it decided in Insurance Company of the State of Pennsylvania v. Equitas that concurrent reinsurance certificates required the reinsurer to cover loss in accordance with the law of the policy's governing jurisdiction, say Peter Chaffetz and Andrew Poplinger at Chaffetz Lindsey.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Hospitality Biz Must Prep For Seaweed Damage Coverage

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    With the Great Atlantic Sargassum Seaweed Belt, a 10-million-ton mass of brown seaweed, potentially about to approach the coasts of the U.S. Southeast, Puerto Rico and the Caribbean, affected policyholders should consider whether their losses are covered by their property insurance policies, say attorneys at Pillsbury.

  • Sackett's US Waters Redefinition Is A Boon For Developers

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    The U.S. Supreme Court's recent landmark ruling in Sackett v. U.S. Environmental Protection Agency should reduce real estate project delays, development costs and potential legal exposures — but developers must remain mindful of how new federal and state regulations governing wetlands could affect their plans, say attorneys at Morris Manning.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • For NY Wind And Solar Projects, Some Tax Assessment Clarity

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    Recent legislation, which moots a challenge to New York’s discounted cash flow method for assessing solar and wind project real property taxes, lifts a cloud of uncertainty and brings new considerations for developers, investors and lenders, say attorneys at Hodgson Russ.

  • How Electric Vehicles Will Affect Land Use And Development

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    The increasing use of electric vehicles will bring significant issues for cities and real estate developers to consider, as cities will require substantially more infrastructure to meet electric vehicles' charging needs, says John Lushis at Norris McLaughlin.

  • 2nd Circ. Reinsurance Ruling Misconstrues English Law

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    The Second Circuit's finding in Insurance Company of the State of Pennsylvania v. Equitas Insurance, that London-based reinsurer Equitas owed coverage for losses outside the policy period, stems from that court's misinterpretation of English law on reinsurance policy construction, says Christopher Foster at Holman Fenwick.