Commercial
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July 02, 2024
The Commercial Real Estate Q&A's You Can't Miss
Check out Law360 Real Estate Authority's most buzzed-about commercial real estate Q&As from the first half of 2024.
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July 02, 2024
Data Analysis Shows Swift Influx In EPA Brownfield Grants
A Law360 Real Estate Authority analysis of the U.S. Environmental Protection Agency's brownfield grant awards since the program's inception shows a steep increase in funding, particularly in funding of cleanups, since the Bipartisan Infrastructure Law was passed in 2021.
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July 02, 2024
Alaska Village Hits Army Corps With Gold Mine Permit Suit
The Native Village of Dot Lake is asking an Alaska federal judge to throw out a permit the U.S. Army Corps of Engineers issued for an open pit gold mine Kinross Gold Corp. and Peak Gold LLC are developing near the Yukon border.
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July 02, 2024
Mass. Panel Won't Cut Tax Value Over Denied Building Permits
The owner of commercial property in Massachusetts failed to show that local denials of building permits impacted the tax value of the property, a state panel said in a decision released Tuesday, rejecting the owner's appeal of a local assessment.
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July 02, 2024
Real Estate Lawyers On The Move
Haynes and Boone and McDonald Hopkins are among the law firms that have made recent real estate or construction hires.
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July 01, 2024
Ill. Tax Applies To Re-Renters Of Hotel Rooms, Dept. Says
Illinois will impose an occupation tax on people who re-rent hotel rooms in the state as part of recently enacted omnibus legislation, the state Department of Revenue said.
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July 01, 2024
NYC Real Estate Week In Review
Hirschen Singer and Kramer Levin are among the law firms that handled the largest New York City real estate deals that hit public records last week, a busy period that saw eight deals north of the $20 million mark become public.
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July 01, 2024
Orrick Renews Black Rock Tower Lease
Orrick Herrington & Sutcliffe LLP has agreed to a lease renewal for its six floors in Midtown Manhattan's Black Rock tower, CBRE announced Monday.
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July 01, 2024
Gov. Office Shedding Pushes DC Vacancies To Record High
The General Services Administration's moves to cut back its footprint in Washington, D.C., drove the vacancy rate for the city's office market to a record high of 22.4%, with nearly half of the previous quarter's occupancy loss stemming from federal government lease changes, according to CBRE.
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July 01, 2024
Hinckley Adds 2 McElroy Deutsch Attys To Real Estate Team
Hinckley Allen & Snyder LLP has expanded its offerings in the Constitution state, adding two commercial real estate financing attorneys from McElroy Deutsch Mulvaney & Carpenter LLP.
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July 01, 2024
Top Real Estate Atty Leaves Willkie To Co-Lead Weil Practice
Willkie Farr & Gallagher LLP's former real estate department co-chair and New York co-managing partner, known for high-profile work that includes the largest real estate investment trust initial public offering in U.S. history, is becoming co-leader of Weil Gotshal & Manges LLP's real estate practice, the firm announced Monday.
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July 01, 2024
Manhattan Office Leasing Marks Annual Gains In Q2
JLL said in a report Monday that office leasing activity in Manhattan during the second quarter of 2024 was higher than last year thanks largely to relocations led by a major law firm in June.
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June 28, 2024
Chevron's End Is Just The Start For Energized Agency Foes
By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attorneys, the achievement is merely a means to an end, and experts expect a litigation blitzkrieg to materialize quickly in the aftermath.
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June 28, 2024
'Nothing Stopping' Collection On $10B Verdict, LA Judge Says
A Los Angeles judge on Friday decided to amend the judgment from a $10 billion verdict that found business owner Haresh Jogani stole a multibillion-dollar real estate business from his four brothers, awarding stock potentially worth billions to the brothers while dismissing his attorney's objections that the order is not allowed due to Haresh Jogani's appeal.
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June 28, 2024
Wyndham Can't Escape Ohio Sex Trafficking Liability Suit
Wyndham Hotels lost its bid to escape a woman's lawsuit alleging it ignored obvious signs she was trafficked for sex at a Knights Inn brand hotel when an Ohio federal judge ruled Friday that she sufficiently alleged the company was directly liable for harming her.
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June 28, 2024
In Chevron Case, Justices Trade One Unknown For Another
The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in challenges of government policies, but lawyers warn it raises new questions over what rules courts must follow and how judges will implement them.
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June 28, 2024
Conn. Court Shouldn't Hear Anti-Dispensary Appeal, City Says
A Connecticut appeals court should not hear a case brought by an anti-cannabis organization in Stamford that is trying to undo a court-approved settlement that allowed for the opening of a dispensary, the city's Zoning Board has argued.
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June 28, 2024
Property Plays: Goldman, WaFD, The Alamo
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
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June 28, 2024
Seattle Co. Owes $5.6M For Upgrades At Old Fed Building
A company that owns the Seattle Federal Reserve Building owes a construction contractor $5.6 million for renovations on two floors, a Washington state court has ruled.
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June 28, 2024
Final Rules Exempt REITs From Stock Buyback Tax
Real estate investment trusts and regulated investment companies may be able to avoid the stock buyback tax but would still be required to keep records under final regulations on reporting and paying the tax released by Treasury and the IRS Friday.
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June 28, 2024
How BCLP Helped Build The New Stonewall Visitor Center
The Stonewall National Monument Visitor Center opened on Friday with help from over a dozen Bryan Cave Leighton Paisner LLP attorneys who provided more than 2,000 hours of pro bono legal counsel.
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June 28, 2024
Shumaker Bolsters Fla. Office With Englander Fischer Litigator
After opening its office in St. Petersburg, Florida, in February, Shumaker Loop & Kendrick LLP has added a former Englander Fischer LLP attorney there, bringing on a lawyer with over a decade of experience handling business and real estate litigation.
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June 28, 2024
5th Circ. Tosses Texas Health System's COVID-19 Suit
The largest nonprofit health system in Texas cannot get coverage for COVID-19-related business interruption losses it said totaled over $192 million, the Fifth Circuit affirmed, highlighting previous circuit precedent establishing that COVID-19 does not cause "physical loss or damage."
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June 28, 2024
Venable's Real Estate Finance Group Gains Partner In NY
Venable LLP has expanded its real estate finance group by hiring a New York-based partner from Nelson Mullins Riley & Scarborough LLP.
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June 28, 2024
Supreme Court Strikes Down Chevron Deference
The U.S. Supreme Court on Friday overturned a decades-old precedent that instructed judges about when they could defer to federal agencies' interpretations of law in rulemaking, depriving courts of a commonly used analytic tool and leaving lots of questions about what comes next.
Expert Analysis
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Contract Disputes Recap: The Terms Matter
Stephanie Magnell and Zachary Jacobson at Seyfarth examine recent decisions from the U.S. Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals and the U.S. Court of Federal Claims, which offer reminders about the importance of including contract terms to address the unexpected circumstances that may interfere with performance.
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Reducing Carbon Footprint Requires A Tricky Path For CRE
As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.
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New CMS Rule Will Change Nursing Facility Disclosures
A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.
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What Shareholder Approval Rule Changes Mean For Cos.
The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.
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White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'
Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.
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ESG Around The World: Canada
In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.
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How Lease Obligations Can Affect Subchapter V Debt Cap
Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.
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Trends That Will Shape The Construction Industry In 2024
Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.
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NY CRE Lenders Need Clarity On Foreclosure Standing
Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Adjusting Deals To Reflect Shifts In The CRE Market
As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.
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4 International Arbitration Trends To Monitor In 2024
Global growth slowed substantially in 2023, and may continue into 2024 due to geopolitical instability, which could fuel four key trends in international arbitration in the coming year, including investor-state and commercial arbitration, an increase in arbitration out of China, and more, say Gregory Litt and Sharmistha Chakrabarti at Skadden.
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How DOI Aims To Modernize Resource Damage Assessments
The U.S. Department of the Interior's recent proposal to redesign its Type A rule for conducting natural resource damage assessment and restoration activities could lead to a more streamlined, flexible assessment process that would benefit both natural resource trustees and potentially responsible parties, says Brian Ferrasci-O'Malley at Nossaman.