Commercial

  • May 03, 2024

    IRS Expects Updates To Hydrogen Credit Emissions Model

    The Internal Revenue Service expects the U.S. Department of Energy to update a model used to determine eligibility for the new clean hydrogen production tax credit under recently proposed rules, an IRS attorney said Friday.

  • 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.

Expert Analysis

  • High Court's Ethics Statement Places Justices Above The Law

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    The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.

  • What's Unique — And What's Not — In Trump Protective Order

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    A Manhattan judge's recent protective order limiting former President Donald Trump's access to evidence included restrictions uniquely tailored to the defendant, which should remind defense attorneys that it's always a good idea to fight these seemingly standard orders, says Julia Jayne at Jayne Law.

  • Time For Law Schools To Rethink Unsung Role Of Adjuncts

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    As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.

  • Justices Curb Fraud Theories, But That May Not Deter Feds

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    The U.S. Supreme Court’s opinions last week in Ciminelli v. U.S. and Percoco v. U.S. are the latest in a line of rulings aiming to limit the wire fraud statute’s application to state public corruption cases, but federal prosecutors will probably continue pursuing such cases using different charging language and other laws, says ​​​​​​​Alison Anderson at Boies Schiller.

  • Good Faith Buyer Lessons From 5th Circ. Bankruptcy Ruling

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    The Fifth Circuit’s recent ruling in Palm Springs II, affirming the sale of property to a senior lender, is notable for its guidance on Section 363(m), including the ability of a senior lender to remain a good faith purchaser despite squeezing out a junior lender, says Shane Ramsey at Nelson Mullins.

  • Tips For In-House Legal Leaders In A Challenging Economy

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    Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.

  • How Cities Can Tackle Post-Pandemic Budgeting Dilemmas

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    Due to increasing office vacancies around the country, cities may consider politically unpopular actions to avoid bankruptcy, but they could also look to the capital markets to ride out the current real estate crisis and achieve debt service savings to help balance their budgets, say attorneys at Cadwalader.

  • What Associates Need To Know Before Switching Law Firms

    Excerpt from Practical Guidance
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    The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

  • Guidance Adds Clarity To Energy Communities Bonus Credits

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    Recent IRS guidance on the Inflation Reduction Act's changes to tax credits for renewable energy projects offers much-needed pointers for developers and financing parties, and should allow them to more comfortably incorporate special bonus credits for projects in energy communities into their transactions, say Jorge Medina and Ira Aghai at Shearman.

  • Cannabis Supercenters: Key Benefits And Legal Issues

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    Barstow, California’s novel plan to convert an abandoned mall into a cannabis supercenter could offer a potential blueprint for cannabis companies to thrive in a saturated market and for communities to repurpose underutilized retail spaces — but certain financing, zoning and leasing issues will need to be assessed, says Christopher Gordon at Fox Rothschild.

  • A Case For Sharing Mediation Statements With Counterparties

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    In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.

  • EB-5 Reform Continues To Weigh Heavily On Participants

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    Recent U.S. Citizenship and Immigration Services guidance helps clarify aspects of the 2022 EB-5 Reform and Integrity Act, which increased oversight of EB-5 regional centers, but does not end the industry's continuing state of uncertainty, says Robert Divine at Baker Donelson.

  • Preparing For Legal Scrutiny Of Data Retention Policies

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    Two recent cases involving Google and Meta should serve as a call to action for companies to ensure their data retention policies are updated and properly implemented to the degree of being able to withstand judicial scrutiny, especially as more data is generated by emerging technologies, say Jack Kallus and Labeed Choudhry at Kaufman Dolowich.