Commercial
-
December 03, 2024
Ex-Braves Blast Tax Court's 'Disregard' In Easement Fight
Two former Atlanta Braves players penalized for allegedly overstating the value of a conservation easement donation urged the Eleventh Circuit to toss the costly ruling against them, saying the U.S. Tax Court's decision showed "blatant disregard" for the appeal court's precedent in deciding the matter.
-
December 03, 2024
Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says
A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.
-
December 03, 2024
Insurance Execs Charged With $250M Fake Policy Scheme
An insurance company and two executives issued bogus insurance policies purporting to offer over $250 million in coverage to companies and homeowners, according to an indictment announced by the Manhattan district attorney Tuesday.
-
December 03, 2024
Gov't Properties REIT Buys NC School System Campus
Real estate investment trust Easterly Government Properties Inc. announced Tuesday it acquired a three-property campus of commercial properties in Cary, North Carolina, which are leased primarily to a local public school system.
-
December 03, 2024
Insurer Says No Coverage For Fishery's $2M Water Damage
An insurer told an Arizona federal court it owed no coverage to a seafood company embroiled in underlying litigation over more than $2 million in water damage, saying the fishmonger's splashing at its rental property wasn't accidental and its polices weren't in effect at the time.
-
December 03, 2024
Pastor Wants Judge DQ'd Over Attorney Turnover Comment
A Michigan pastor said Monday that a federal judge should be disqualified from overseeing his lawsuit alleging a township's zoning ordinance discriminates against religious entities because of a comment the judge made about the pastor having "issues" with attorney turnover.
-
December 03, 2024
California Tribe Says Feds Didn't Consult On Casino Project
A California tribe is looking to block the U.S. Department of Interior from approving a casino project on its historic homelands, arguing that the federal government failed to consult it on the endeavor that will irreparably harm its sovereignty and its rights over sacred objects located on the site.
-
December 03, 2024
JV Nabs NYC Waterfront Property, $85M Construction Loan
A joint venture of Joyland Group and Prospect Development purchased an undeveloped Brooklyn, New York, waterfront property for $48.25 million, simultaneously securing an $85 million construction loan, according to a Tuesday statement from JLL, which arranged both deals.
-
December 03, 2024
Timeshare Co. Argues Jury Never Should've Seen Fraud Suit
A company selling timeshares in Atlantic City, New Jersey, told a state appeals court Tuesday that a consumer fraud suit never should have reached a jury, arguing that an evidence rule bars the claims.
-
December 03, 2024
4 Firms Guide KKR JV's £900M Hotel Portfolio Buy
A joint venture between global investment firm KKR and investment manager The Baupost Group acquired a £900 million ($1.14 billion) portfolio of 33 U.K. Marriott International hotels from a subsidiary of the Abu Dhabi Investment Authority in a deal guided by four law firms, KKR announced.
-
December 03, 2024
Duo Launch $1B Office-To-Resi Conversion Venture
Dune Real Estate Partners LP and developer TF Cornerstone announced Tuesday that the pair have launched Alta Residential, a $1 billion venture that will complete office-to-residential conversions in major metropolitan areas nationwide.
-
December 02, 2024
Manhattan Office Space Leases Decline As Demand Goes Up
The monthly leasing volume of Manhattan, New York, office space decreased by 12.4% in November but still topped prior years, with demand set to be the strongest since the pandemic, according to a Colliers report released Monday.
-
December 02, 2024
Kirkland Adds 2 Real Estate Partners To NYC Office
Kirkland & Ellis LLP has hired ex-Fried Frank partner Matthew Bettinger and former Schulte Roth & Zabel LLP partner Seth R. Henslovitz as new partners for its real estate team in New York City, the firm announced on Monday.
-
December 02, 2024
Deal Struck In Discount Chain Plan, No Sanctions In J&J Case
Holders of notes issued by 99 Cents Only will take a $297 million haircut, Beasley Allen dodged discovery sanctions in Johnson & Johnson's latest spinoff bankruptcy and a Mexican industrial equipment leasing group sought U.S. recognition for its reorganization. This is the week in bankruptcy.
-
December 02, 2024
Cargo Facility Merits Property Tax Break, Mass. Justices Told
A property leased from the Massachusetts Port Authority to a for-profit cargo enterprise is exempt from property tax because the facility serves a public purpose, the lessee told the state's highest court Monday, urging reversal of a tax board decision.
-
December 02, 2024
EB-5 Visa Scam Suit Against Fla. Immigration Atty Ends
A Florida federal judge on Monday dismissed with prejudice a lawsuit against an immigration attorney over a $500,000 visa scam after the two parties filed a stipulation of dismissal.
-
December 02, 2024
NYC Real Estate Week In Review
Goodwin Procter and Blank Rome are among more than half a dozen law firms that guided the top New York City real estate deals that hit public records last week, a busy period for filings despite the holiday-shortened week.
-
December 02, 2024
NJ Siblings Say Fox Rothschild Must Face Malpractice Suit
Two siblings have called on a New Jersey state court to reject Fox Rothschild LLP's bid to exit their malpractice suit alleging a lawyer now at the firm bungled a 1984 property deed and 1993 trust belonging to their late stepfather, depriving them of a lucrative land parcel.
-
November 27, 2024
Developer Reboots Plan For Miami Beach Deauville Project
Miami Beach officials have reviewed a new plan to bring a hotel and condominium towers to the city's former Deauville Beach Resort location, with developers relying on a new state law preventing voter opposition of the sort that ended a previous intended development at the site two years ago.
-
November 27, 2024
Illinois Top Court Will Decide Fate Of $7B Power Line Permit
The Illinois Supreme Court has agreed to review a lower court's decision striking state utility regulators' approval to build part of the $7 billion Grain Belt Express high-voltage transmission line.
-
November 27, 2024
Lender Seeks $1M Limit After Broker's Claim Notice Mistake
A lender assigned insurance rights by an underlying defendant as part of a $1 million settlement told a Florida federal court that it is still owed the defendant's $1 million limit even though the defendant's insurance broker failed to notify the correct carrier about the lender's lawsuit.
-
November 27, 2024
Mich. Bill Would Bar Local Property Tax Caps Tied To Rate Cut
Michigan would bar local governments from imposing caps on annual property tax revenue that require an automatic rate reduction as part of a bill introduced in the state House of Representatives.
-
November 27, 2024
City Golf Course Exempt From Property Tax, Fla. Justices Say
A municipal golf course in Florida is exempt from property taxes despite a management agreement with a for-profit company, the state Supreme Court ruled Wednesday, reversing an appeals court decision.
-
November 27, 2024
Conn. High Court Snapshot: Bank Regulation, Workers' Comp
When it convenes for the third term of the season, the Connecticut Supreme Court will hear cases that could affect the scope of the state banking department's authority to determine its own jurisdiction and clarify a workers' compensation benefits law.
-
November 27, 2024
Virgin Islands Mall, Lloyd's End $6M Spat Over July 4 Fire
The owner of a historic marketplace in the U.S. Virgin Islands, which accused certain underwriters at Lloyd's of London of denying more than $6 million in claims after an Independence Day fire, agreed to drop all claims against the underwriter, according to a notice Monday.
Real Estate Lawyers On The Move
Nixon Peabody, Dorsey & Whitney and Baker McKenzie are among the law firms that have made recent real estate or construction hires.
Partnership Offers Proptech Players Range Of Legal Expertise
Goodwin Procter LLP and the Center for Real Estate Technology and Innovation have teamed up to try to help proptech companies get in position to capitalize on a potential upswing. Law360 Real Estate Authority recently spoke with the founder and co-leader of Goodwin's proptech group and the founder of CRETI about what they think they can provide to help companies succeed.
Blackstone, Santander OK $1B Infrastructure Loan Portfolio Deal
Blackstone Inc. has acquired the interests of a $1 billion infrastructure loan portfolio from Santander Corporate & Investment Banking, the private equity giant announced Tuesday.
Expert Analysis
-
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.
-
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.
-
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.
-
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
-
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
-
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.
-
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
-
Notable Q3 Updates In Insurance Class Actions
Total loss valuation cases and labor depreciation cases dominated the past quarter of insurance class actions, with courts continuing to reject challenges to condition adjustments in the former, and a pro-insured trend persisting in the latter, say attorneys at BakerHostetler.
-
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
-
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.
-
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
-
Calif. Ruling Offers Hope For Mitigated Negative Declarations
In Upland Community First v. City of Upland, a California appeals court upheld a warehouse development's mitigated negative declaration over its greenhouse gas emissions thresholds — a rare victory against this type of challenge providing reassurance that such declarations can be upheld, say attorneys at Sheppard Mullin.
-
There's No Crying In Property Valuation Baseball Arbitration
The World Series is the perfect time to consider how the form of arbitration used for settling MLB salary disputes — in which each side offers competing valuations to an arbitrator, who must select one — is often ideal for resolving property valuation disputes, say Sean O’Donnell at Herrick Feinstein and Mark Dunec at FTI Consulting.