Commercial

  • August 21, 2024

    Fla. Real Estate Co.'s Assets Frozen After $56M Ponzi Claims

    The U.S. Securities and Exchange Commission has secured an asset freeze in its suit against a Florida-based real estate investment company whose managers misused tens of millions of investor proceeds, including by paying investors "in a Ponzi-like fashion."

  • August 21, 2024

    Venable Guides Hyatt's $335M Standard International Buy

    Hyatt Hotels Corp. will acquire hospitality company Standard International's brands and a majority of its affiliates in an up to $335 million deal guided by Venable LLP, as Hyatt continues a push to shed some of its physical assets.

  • August 21, 2024

    3rd Circ. Affirms Health Chain Win In Pa. Hospital Sale Dispute

    The seller of a Pennsylvania hospital was in compliance with its state licensing requirements when the facility was sold, and thus, did not violate the terms of the sale agreement when the buyer needed to update its fire-safety plans to stay licensed, the Third Circuit has affirmed.

  • August 21, 2024

    KKR Pays $337M For 6 US Industrial Warehouses

    KKR purchased a 2 million-square-foot, fully leased portfolio of six Class A industrial logistics warehouses in a $337 million deal, the global investment firm announced Monday.

  • August 21, 2024

    Alleged WeWork Fraudster Fires Dickinson Wright Before Trial

    Lawyers from Dickinson Wright PLLC told a New York federal judge on Wednesday that they have been discharged by the former CEO of real estate investment firm ArciTerra ahead of his October trial for issuing a bogus $77 million offer for WeWork shares.

  • August 21, 2024

    NJ Health System Calls Proskauer DQ Bid A 'Litigation Tactic'

    RWJBarnabas Health urged a New Jersey federal judge to reject its competitor's attempt to disqualify Proskauer Rose LLP from representing the healthcare system in an antitrust suit, telling the court the "litigation tactic" is merely the plaintiff's effort to replace opposing counsel because its case is going badly.

  • August 21, 2024

    Proptech Sector Stuck In The Doldrums, But Eyeing A Way Out

    Hopes that the property technology sector would rebound in 2024 after a down year have not materialized so far — with a recent report showing funding has actually dropped further — but investment and technology professionals anticipate improvements soon and see the potential for major long-term growth.

  • August 21, 2024

    Minn. Tax Court Cuts $2.5M From Office Building Value

    The local valuation of a Minnesota office building recently occupied by the state Department of Education was too high, the state tax court said, cutting about $2.5 million from the assessment.

  • August 21, 2024

    Cooley Atty Expects San Diego Life Sciences Supply To Slow

    As many San Diego life sciences projects are wrapping up, new real estate supply should slow and in turn push the local vacancy rate down, a Cooley real estate lawyer told Law360 Real Estate Authority in an interview.

  • August 20, 2024

    Steward Health, Landlord Spar Over Ch. 11 Hospital Sales

    Bankrupt hospital operator Steward Health Care has filed an adversary suit against the landlord for 30 of its hospitals, Medical Properties Trust, saying the landlord is throwing a wrench in the sale process for the facilities and trying to hoover up all the proceeds.

  • August 20, 2024

    4 Firms Rep Wells Fargo's Sale Of Servicing Biz To Trimont

    Commercial mortgage loan services company Trimont will be the biggest loan servicer in the U.S. after Wells Fargo agreed to sell it a part of its business in a deal guided by Wachtell Lipton Rosen & Katz, Kirkland & Ellis LLP, Cadwalader Wickersham & Taft LLP and Trilegal, the bank and Trimont announced Tuesday.

  • August 20, 2024

    Pa. Justices Say No Public Benefit To Railroad Land Grab

    The general public needed to be the primary beneficiary for a railroad to use eminent domain to take over part of a property and reactivate a siding, and that standard was harder to meet now compared with when a century-old precedent was set, the Supreme Court of Pennsylvania ruled Tuesday.

  • August 20, 2024

    Mass. Parcels Were Properly Valued Despite Construction

    Two parcels of land in a Massachusetts town were properly valued and should not have their value decreased based on construction on a nearby property, the state Appellate Tax Board said in a decision released Tuesday.

  • August 20, 2024

    Allen Matkins Tax Group Leader Jumps To Covington In LA

    Covington & Burling LLP has added to its Los Angeles office a partner with more than 20 years of experience who most recently led Allen Matkins Leck Gamble Mallory & Natsis LLP's tax group, describing the new hire as "one of the country's leading authorities on partnership tax."

  • August 20, 2024

    Son Can't Protect Property In $10M Tax Case, US Says

    A man whose father is serving a 22-year fraud sentence shouldn't be allowed to stop the IRS from seizing property he claims he bought fairly from his parents, the U.S. government told a Georgia federal court, saying he's a nominee of his parents, who owe $10 million in taxes.

  • August 20, 2024

    A Deep Dive Into Law360 Pulse's 2024 Women In Law Report

    The legal industry continues to see incremental gains for female lawyers in private practice in the U.S., according to a Law360 Pulse analysis, with women now representing 40.6% of all attorneys and 51% of all associates.

  • August 20, 2024

    These Firms Have The Most Women In Equity Partnerships

    The legal industry still has a long way to go before it can achieve gender parity at its upper levels. But these law firms are performing better than others in breaking the proverbial glass ceiling that prevents women from attaining leadership roles.

  • August 20, 2024

    Kirkland-Led Dermody Closes $1B Real Estate-Focused Fund

    Real estate-focused private equity shop Dermody Properties, advised by Kirkland & Ellis LLP, on Tuesday announced that it successfully closed its fourth commingled fund after securing just over $1 billion in capital commitments.

  • August 19, 2024

    Colo. Justices Take Up Firm's Malicious Prosecution Defense

    The Colorado Supreme Court said Monday it would hear a Denver law firm's appeal arguing that winning a dispositive motion in an earlier suit protects against a later malicious prosecution claim from the target of the first case.

  • August 19, 2024

    Fraud Trial Waylaid By Last-Minute Bid For Remote Testimony

    A Florida federal judge on Monday delayed a bench trial in a lawsuit over real estate investment fraud claims after the alleged victims brought an emergency motion to testify remotely from Africa, with the judge saying she'd have to consider whether rules allow the case to proceed despite their absence.

  • August 19, 2024

    Gould & Ratner Rehires Construction Atty For Chicago Office

    Gould & Ratner LLP rehired Ellen M. Chapelle, who previously worked there as a partner on the construction team, for another stint as a construction partner and a new role as the chair of the insurance counseling and recovery team, the firm announced.

  • August 19, 2024

    Citibank Sues NYC Developer Over $180M In Defaulted Loans

    Citibank and JPMorgan Chase Bank NA are seeking to foreclose on a midtown Manhattan property owned by developer RFR Holding LLC, after the borrower failed to pay off $180 million in debt that matured in June.

  • August 19, 2024

    Mont. Tax Board Restores $1M Value To Commercial Property

    A commercial property in Montana was correctly valued at about $1 million, the state's tax appeals board said, reversing a county tax board and upholding the income approach to the valuation used by the state revenue department.

  • August 19, 2024

    Insurer Blames Panda Express Grease For $176K Water Leak

    An insurer demanded Chinese fast food chain Panda Express Inc. repay it more than $176,000 for damages allegedly caused when the restaurant's grease-filled pipes backed up, leaking water into a clothing store covered by the insurer, in a case the eatery moved to Washington federal court.

  • August 19, 2024

    Kasowitz Urges NY Court To Toss Supertall Tower Suit

    Kasowitz Benson Torres LLP asked a New York state court to dismiss a lawsuit filed by two limited liability companies tied to AmBase Corp. over Manhattan's troubled supertall Steinway Tower.

Expert Analysis

  • Keys To Navigating The Post-Pandemic CRE Market

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    As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • How Rate Exportation Is Shifting Amid Regulatory Trends

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    All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.

  • How The Commercial Real Estate Slump May Weigh On Banks

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    The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.

  • Negotiating Material Escalation In Construction Contracts

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    As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.

  • Landlords Should Prep As WeWork Faces Potential Ch. 11

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    After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Key Drivers Behind Widespread Adoption Of NAV Financing

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    While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.

  • Conn. Ruling Highlights Keys To Certificate-Of-Need Appeals

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    The Connecticut Supreme Court's recent decision in High Watch Recovery Center v. Department of Public Health, rejecting rigid application of statutes concerning certificate-of-need procedure, provides important guidance on building an administrative record to support a finding that a case is contested, say attorneys at Robinson & Cole.

  • The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • Pickleball Makes Waves In Fla. Real Estate, With Risks In Play

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    Pickleball's burgeoning popularity in Florida is catalyzing a transformation in the state's commercial real estate market, but investors must take steps to navigate legal challenges related to noise, insurance and community dynamics, says Emmanuelle Litvinov at DarrowEverett.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • What Calif. Pot Permit Ruling Means For Enviro Compliance

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    While a California appeals court's recent decision in Lucas v. City of Pomona affirms the city's use of a statutory exemption for its commercial cannabis overlay permit program, the ruling does not mean that all applicants seeking similar approvals are exempted from state environmental compliance obligations, say Whitney Hodges and Barbara Machado at Sheppard Mullin.