Commercial
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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May 01, 2024
DLA Piper Adds Ex-Sidley Atty To New Funds Team
DLA Piper on Tuesday announced another addition to its newly formed stand-alone investment funds group, this time a former Sidley Austin LLP partner focused on advising private funds sponsors.
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May 01, 2024
Public Storage Sees Signs Of Growth Amid Slowdown
Public Storage executives said Wednesday that they are seeing some revenue growth in certain markets and expressed optimism about the second half of the year, while the company continues facing a comedown from its record-high performance during the pandemic.
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May 01, 2024
Tax Credit Transfer Regs Show IRS Caution In Rulemaking
The IRS and Treasury's final rules on the sale and transfer of green energy credits maintained a strict reading of the statute while making few changes, a sign of caution by regulators amid judicial scrutiny of the government's rulemaking authority.
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May 01, 2024
Blackstone's Chicago Bet Backfires Post-Pandemic
In the first in a series of stories on distressed office properties in various U.S. markets, Law360 Real Estate Authority looks at the rise and fall of one Blackstone property in Chicago.
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May 01, 2024
What Attys Are Saying About The PFAS CERCLA Designation
In the days since the Environmental Protection Agency classified two "forever chemicals" as hazardous, real estate and environmental attorneys have been analyzing how the move applies to their work.
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May 01, 2024
Real Estate Authority Is Moving To Thursday
Beginning May 9, Law360 Real Estate Authority's two weekly newsletters — Commercial and Residential — will be distributed Thursday morning.
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May 01, 2024
Virginia Still Pursuing New Rules For Key Data Center Market
None of the bills proposing oversight and restrictions on data center development in Virginia passed this year, but tighter regulations may still be in store for the world's largest market for digital infrastructure facilities after lawmakers see the results of a study that could inform new rules.
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April 30, 2024
Ohio Panel Won't Yank Receiver For Foreclosed Hotels
An Ohio appeals court has backed a lower court's ruling that appointed a receiver to oversee five foreclosed Ohio hotels that were owned by the borrower of a multimillion-dollar loan.
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April 30, 2024
Real Estate Leaders Ask Congress For Less Stick, More Carrot
The federal government should incentivize home construction and office-to-residential conversions, avoid imposing more capital requirement rules on banks and refrain from treating commercial real estate monolithically, industry leaders testified to members of Congress on Tuesday.
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April 30, 2024
Ex-Enforcers Back CoStar At 9th Circ. Against Antitrust Claims
Several former antitrust enforcers told the Ninth Circuit that a lower court was right to toss a rival's claims that CoStar monopolizes commercial real estate information markets despite concerns from the Federal Trade Commission about the allegations.
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April 30, 2024
GSA To Dump WWI-Era Liberty Loan Building, Citing Costs
The U.S. General Services Administration has announced it will be dropping the historic Liberty Loan Building in Washington, D.C., from the government's real estate portfolio, a decision that will save $15 million in reinvestment costs, the agency said.
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April 30, 2024
NY Bank Investors Spar Over Bid To Merge, Pause Suits
New York Community Bancorp Inc. shareholders traded barbs in filings this week over whether a New York federal judge should allow an individual shareholder to intervene in the larger group's attempt to consolidate and stay their derivative shareholder suits against the bank.
Expert Analysis
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Firm Tips For Helping New Lawyers Succeed Post-Pandemic
Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.
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Fla. Foreign Real Estate Law Brings Broad Investment Risks
Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.
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Prepping Your Business Ahead Of Affirmative Action Ruling
The U.S. Supreme Court's upcoming ruling on whether race should play a role in college admissions could potentially end affirmative action, and companies will need a considered approach to these circumstances that protects their brand power and future profits, and be prepared to answer tough questions, say Nadine Blackburn at United Minds and Eric Blankenbaker at Weber Shandwick.
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How REITs Can Prep For SEC's Repurchase Disclosure Rules
With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.
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Tackling Judge-Shopping Concerns While Honoring Localism
As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.
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How Attorneys Can Help Combat Anti-Asian Hate
Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.
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Congress Needs To Enact A Federal Anti-SLAPP Statute
Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.
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As Sackett Trims Feds' Wetlands Role, States May Step Up
The U.S. Supreme Court's recent decision in Sackett v. U.S. Environmental Protection Agency extinguishes federal authority over many currently regulated wetlands — meaning that federal permits will no longer be required to discharge pollutants in affected areas, but also that state regulators may take a more active role, say attorneys at Kelley Drye.
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Some Client Speculations On AI And The Law Firm Biz Model
Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.
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Trafficking Ruling Offers Liability Lessons For Hospitality Cos.
A California federal court recently dismissed a lawsuit accusing several national hotel chains of knowingly benefiting from sex trafficking at their premises, highlighting how hospitality leaders can protect their guests and staff, and shield their companies from liability and reputational damage, says Danielle Dudai at Hall Booth.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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High Court's Ethics Statement Places Justices Above The Law
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.
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What's Unique — And What's Not — In Trump Protective Order
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.