Commercial

  • September 26, 2024

    Cannabis REIT Beats Investor Class Action For Good

    A New Jersey federal judge has allowed a cannabis-focused real estate investment trust and certain executives to permanently escape a proposed class action brought by the company's shareholders, finding the lawsuit failed to allege the defendants did not conduct proper due diligence on a major tenant accused of engaging in fraud.

  • September 26, 2024

    Round Up: Insurance Highlights At Climate Week NYC

    The value of insurer climate risk disclosures, strengthening infrastructure and communicating climate risks were among the top issues that insurance industry officials, elected officials, and regulators highlighted at this year's edition of Climate Week in New York City.

  • September 26, 2024

    Oil Co. Can Escape Most Claims In Shell Fraud Suit

    A federal judge trimmed most of the claims from a lawsuit brought by a group of Western Pennsylvania landowners who say a Royal Dutch Shell PLC subsidiary fraudulently sold off $9.5 billion of its assets to avoid the possibility of being subject to a judgment in a separate lawsuit.

  • September 26, 2024

    Healthcare REIT Defeats Investor Suit For Good

    An Alabama federal judge on Thursday permanently tossed an investor suit against a healthcare-focused real estate investment trust, Medical Properties Trust Inc., that alleged the trust hid the poor performance of four acute care hospitals it owns in Pennsylvania, saying the plaintiff's asserted theory in the suit "is somewhat Jekyll and Hyde."

  • September 26, 2024

    County, Deputy Exit Calif. Cannabis Raid Case For Now

    With a ruling Friday, a California county and a sheriff's deputy have escaped — for now — claims they unlawfully searched a man's home and seized 60 pounds of marijuana, but still pending are claims of excessive force by means of a bean bag round shot at the plaintiff.

  • September 26, 2024

    Pa. Supreme Court Upholds Taxes On Like-Kind Exchanges

    A group of Pennsylvania real estate partners owe the state personal income tax assessed on their like-kind exchange, Pennsylvania's highest court ruled Thursday, with the majority upholding a lower court finding that the state Department of Revenue correctly issued the assessment.

  • September 26, 2024

    Colo. Property Tax Deferral Program Could Balloon, Panel Told

    Use of a property tax deferral program in Colorado is expected to rise under a recent legislative change opening it to nearly all property owners, the state's treasurer told a legislative commission Thursday, calling the extent of the program's growth difficult to predict.

  • September 26, 2024

    Feds Send Message To Adams' City Hall: Buckle Up

    The seizure of another of New York City Mayor Eric Adams' phones ahead of his corruption indictment Thursday and a prosecutor's cryptic vow to "hold more people accountable" suggest the landmark case may only just be getting started, experts say.

  • September 26, 2024

    Calif. Revives Tax Breaks For Manufacture Property

    California reinstated a capital investment incentive program that allows local governments to offer partial property tax abatements for qualified manufacturing facilities and expanded the program to include qualifying projects that make lower initial investments under a bill signed by Democratic Gov. Gavin Newsom.

  • September 26, 2024

    Law Firm Real Estate Report

    The start of autumn brings changing leaves and growing law firms as offices big and small increase their footprints through the country. BigLaw firms, midsize shops and boutiques across the country all found room to grow in September.

  • September 26, 2024

    Renewable Land Acquires Ohio Solar Farm Serving Amazon

    Real estate investment firm Renewable Land Advisers LLC said Thursday that it has acquired a 435-acre property in Putnam County, Ohio, that's occupied by a 50-megawatt solar farm supplying Amazon with clean power.

  • September 26, 2024

    Meet The Quinn Emanuel Atty Defending NYC Mayor Adams

    Embattled New York City Mayor Eric Adams has tapped Quinn Emanuel Urquhart & Sullivan LLP partner Alex Spiro to defend him against campaign fraud and bribery charges, putting his fate in the hands of a hotshot attorney known for celebrity clients and courtroom miracles.

  • September 26, 2024

    NJ Atty Rips AG For 'Grossly Distorted' Power Broker Case

    A New Jersey attorney charged in the state's sweeping indictment against power broker George E. Norcross III accused the Attorney General's Office on Thursday of "attempting to criminalize the routine practice of law" with its charges against him.

  • September 26, 2024

    Firms Say Moving Has More Positive Impact Than Renovating

    Roughly 90% of law firms that recently relocated or renovated say the updated digs have been for the better regarding culture and "office energy," and such positive change has been most widely felt among firms that moved, according to a recent report from real estate brokerage firm Savills.

  • September 26, 2024

    NY Appeals Court Casts Doubt On $489M Trump Judgment

    Judges on a New York state appeals court expressed skepticism Thursday of a $489 million civil fraud judgment against Donald Trump, his sons, companies and their executives, raising the prospect that the fine awarded to the attorney general could be reduced or vacated.

  • September 26, 2024

    Data Center Cos. Snap Up 104 Acres For Va. Campus Build

    An affiliate of digital infrastructure investor Chirisa Investments and developer Powerhouse Data Centers said Thursday that they have acquired a 104-acre site in Virginia for a series of data centers designed for artificial intelligence demands.

  • September 26, 2024

    Adams Accused Of 'Grave' Public Deceit As Feds Unveil Case

    New York City Mayor Eric Adams was charged in an indictment unsealed in Manhattan federal court Thursday with corrupting his office and defrauding the public by accepting foreign campaign contributions in exchange for favorable treatment.

  • September 25, 2024

    Developer's NorCal Spree Ends With Fraud Claims In Ch. 11

    Northern California real estate company LeFever Mattson stockpiled more than $400 million in real estate, including several local landmarks in a small town north of San Francisco. The firm now seeks bankruptcy protection amid claims following an alleged scheme by one executive to pocket millions by selling bunk equity stakes to investors.

  • September 25, 2024

    Developer Says Minn. City Made Rule To Block Mosque

    A developer and its Muslim founders claimed in federal court that Islamophobia motivated Lino Lakes, Minnesota, and several of its lawmakers to approve a moratorium that blocked the construction of a mixed-use development project that featured a mosque.

  • September 25, 2024

    Fla., Calif. Seek Insurance Cures On Climate Crisis Frontlines

    California and Florida may be on opposite coasts, and opposite ends of the political spectrum, but they're facing a common dilemma: how to address the stress that mounting climate risks have imposed on property insurance and real estate within their borders.

  • September 25, 2024

    NC Judge Limits $5.6M Hurricane Claims In Part Over Deadline

    A North Carolina federal court found that a property owner awarded $5.6 million following hurricane damages could continue its breach of contract case against an insurer for alleged underpayment for 2016 Hurricane Matthew damages, though its claims for 2018 Hurricane Florence damages were time-barred.

  • September 25, 2024

    NJ Bill Would Hike Threshold For Tax On Property Transfers

    New Jersey would raise the threshold for the imposition of a controlling interest transfer tax or an additional fee on transfers of various kinds of real property under a bill introduced in the state Assembly.

  • September 25, 2024

    Bar Works Crook Gets 7 Years For Role In $57M Global Fraud

    A Manhattan federal judge hit an English real estate marketer with a seven-year prison sentence on Wednesday for joining what prosecutors call a global Ponzi scheme that tricked investors into pouring $57 million into the bogus workspace share venture Bar Works.

  • September 25, 2024

    2 Firms Assist On $289M Central Park Hotel Deal

    Gencom bought the Thompson Central Park in Manhattan for more than $288.5 million, with Stearns Weaver assisting on the deed for the hotel and King & Spalding LLP aiding on a $184 million mortgage, according to records released Monday.

  • September 24, 2024

    Mucinex Maker To Bring $145.6M Facility To North Carolina

    Health products company Reckitt Benckiser Group PLC plans to invest $145.59 million to open up a production facility in Wilson County, North Carolina, to produce Mucinex, a popular brand of cough medicine, according to a Tuesday announcement by the state's governor's office.

Expert Analysis

  • Round-Canopy Parachuting Makes Me A Better Lawyer

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    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

  • Dealmaker Lessons From CFIUS' New Enforcement Webpage

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    The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.

  • Reassessing Lease Provisions To Account For ESG Initiatives

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    As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.

  • Avoid Getting Burned By Agencies' Solar Financing Spotlight

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    Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.

  • Co-Tenancy Clause Pointers For Shopping Center Landlords

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    Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.

  • Assessing Algorithmic Versus Generative AI Pricing Tools

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    A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.

  • Navigating A Potpourri Of Possible Transparency Act Pitfalls

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    Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.

  • Keys To Successful Commercial Property Insurance Claims

    Excerpt from Practical Guidance
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    While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.

  • Tips For Handling Single Asset Real Estate Bankruptcy Cases

    Excerpt from Practical Guidance
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    Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.

  • Increased Scrutiny Raises Int'l Real Estate Transaction Risks

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    Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • Portland's Gross Receipts Tax Oversteps City's Authority

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    Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.

  • Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.