Commercial

  • July 30, 2024

    Legalization Foes Mount New Challenge To NY Pot Program

    A group of anti-cannabis activists renewed their challenge to New York's proposal to use public funds to help marijuana retailers launch their businesses, alleging in a new state court lawsuit that the policy violates federal law.

  • July 30, 2024

    Orrick Reps NY Gov't In $140M Loan To Pace University

    The Dormitory Authority of the State of New York, advised by Orrick Herrington & Sutcliffe LLP, provided Pace University with a more than $140 million mortgage loan, according to official property records.

  • July 30, 2024

    Polsinelli Advises Lender On Wall Street Discount Tower Buy

    Barings has unloaded its 29-story 100 Wall Street tower for less than half of the $270 million it paid for the property in 2015, with Polsinelli PC representing lender Northwind Group on the deal. 

  • July 30, 2024

    Challenge To IRS Summons in $90M Easement Suit Tossed

    A Mississippi federal judge dismissed a company's request to quash IRS summonses related to a $90 million conservation easement deduction, adopting the rulings of three sister jurisdictions that had dismissed the same challenge on grounds the summonses served a legitimate purpose.

  • July 30, 2024

    Mass. Says $30M Funding For Steward Will Fund Quick Sales

    The Commonwealth of Massachusetts has told a Texas bankruptcy judge that its agreement to pay $30 million to debtor Steward Health Care is designed to help fund operations at the debtor's struggling hospitals while sales are pursued.

  • July 30, 2024

    Barings Loans $114M For Nev. Warehouse Property

    Barings provided a $114 million loan in order to finance an 893,000-square-foot Class A industrial distribution warehouse in Reno, Nevada, the real estate investment manager announced Tuesday.

  • July 30, 2024

    Feds Must Maintain Center's EB-5 Status During Fee Dispute

    A Montana federal judge ordered U.S. Citizenship and Immigration Services to maintain a regional center's designation to participate in the EB-5 investor visa program while he reviews claims that the agency moved to terminate its designation without proper notice.

  • July 30, 2024

    Texas Buildings Get $115M In Israeli Loans Amid Office Woes

    Texas-based Westdale Properties America has secured a $115 million senior loan for three Texas buildings — two office and one multifamily —backed by the Israeli bond market.

  • July 30, 2024

    Ropes & Gray Adds Partner To Int'l Tax Practice

    Ropes & Gray LLP recently added a tax adviser with a wealth of experience navigating transactions, funds and investments for clients as a partner in its New York office, the firm said.

  • July 30, 2024

    Pot Cos. Can't Push RICO Claims Against Calif. City

    A California federal judge has thrown out racketeering claims by six cannabis companies that accuse the city of Cudahy of illegally assessing fees, saying that because Congress listed cultivation and sale of cannabis under the definition of racketeering, they can't recover damages.

  • July 30, 2024

    Cos. Try To Kill Warehouse Competitors' Antitrust Suit

    Several real estate companies are pushing an Illinois federal court to toss an antitrust suit that accuses them of blocking access to their warehouses in order to protect a monopoly over a Joliet, Illinois, intermodal facility used for transferring freight.

  • July 29, 2024

    Ky. Tower Sale Laundering Case Should Proceed, Judge Told

    A Florida magistrate judge has recommended denying a bid by two Miami businessmen to toss litigation filed by the U.S. government looking to seize about $9.1 million from the sale of a Kentucky office tower over alleged ties to a Ukrainian money laundering scheme.

  • July 29, 2024

    Rialto, Blackstone Foreclosures Add Up On Signature Loans

    A Rialto Capital Partners and Blackstone joint venture, which took over as servicer of a Signature Bank loan portfolio, has gone to court to claw back loans on various New York commercial properties — including an Art Deco landmark.

  • July 29, 2024

    BofA Mortgage Loan Officers Get Conditional Cert. In OT Suit

    A group of mortgage loan officers who accused Bank of America of misclassifying the employees as overtime-exempt has cinched conditional collective certification, with a North Carolina federal judge rejecting the bank's arguments that their job duties were too different to merit certification.

  • July 29, 2024

    CIM Group Funds $2.1B Real Estate Investment Platform

    Real estate and infrastructure owner CIM Group on Monday announced that it has provided financing for the formation of a $2.1 billion investment platform called Round Hill Capital Ventures, which has acquired contracts for the assets previously managed by Round Hill Capital.

  • July 29, 2024

    Realtor.com Parent Fights Uphill For CoStar Injunction

    A California federal judge appeared skeptical Monday of a preliminary injunction request from Realtor.com's parent company seeking to block rival CoStar from misappropriating trade secrets and unlawfully accessing its computers, saying the alleged theft doesn't appear to involve a secret "formula" but rather website content.

  • July 29, 2024

    Mo. Menards Store Ruled Properly Valued At $17M

    A Missouri Menards home improvement store was properly valued at $17 million by a county assessor because the store's appraiser failed to use comparable properties in his valuation, the state Tax Commission affirmed.

  • July 29, 2024

    Judge Ends Coverage Quest, Calls $2.7M Loss 'Foreseeable'

    An Arizona federal judge granted a quick win to an insurer over $2.7 million in water damage losses claimed by an Arizona landlord, finding the losses were "foreseeable" and therefore not covered by the all-risk policy.

  • July 29, 2024

    Co. Denies Bid At 99 Cents Only Sale, Wants $1.5M Deposit

    A California real estate entity urged a Delaware bankruptcy judge to let it reclaim all of a $1.5 million deposit it made in connection to the estate of 99 Cents Only, saying the money was required to attend an auction but the discount retailer is pretending the company won a bid for some of its property.

  • July 29, 2024

    Developer Stocks Up $300M To Buy Calif. Industrial Assets

    Overton Moore raised $150 million in equity capital and brought its total acquisition capital to $300 million as it plans to acquire "well-located core" California industrial properties in the future, the industrial developer announced Monday.

  • July 29, 2024

    Clean Energy Tax Credit Sales Could Hit $25B, Report Says

    Total sales of clean energy tax credits could reach as high as $20 billion to $25 billion this year, signaling a flourishing marketplace for credit sales authorized by the 2022 climate law, according to a midyear report released Monday by a climate tech startup firm.

  • July 29, 2024

    NYC Real Estate Week In Review

    Romer Debbas and Marcus Attorneys are among the law firms that steered the largest New York City deeds that hit public records last week, a slow period that saw only five transactions north of $15 million become public.

  • July 29, 2024

    DC Taxes Due From Property Transfer Prior To Sale

    A business that sold a commercial property in Washington, D.C., was properly assessed back taxes for a 2007 merger with a subsidiary, the District of Columbia Court of Appeals ruled.

  • July 26, 2024

    CFIUS Report Says More On Real Estate Than Meets The Eye

    The Committee on Foreign Investment in the United States' latest report to Congress shows no significant change in the number of real estate-related cases the committee reviewed in 2023, but that does not mean properties weren't on the government's radar, attorneys say.

  • July 26, 2024

    Kuwait-Linked Firm Forecloses On $124.5M FiDi Office Loan

    InterVest Capital Partners, a firm supported by Kuwait's public pension fund, has sued in New York state court to foreclose on a $124.5 million loan for a 47-story office tower at 30 Broad Street in New York's Financial District.

Expert Analysis

  • A Case Study For Calif. Cities In Water Utility Takeovers

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    With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.

  • Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Lower Courts May Finally Be Getting The Memo After Ciminelli

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    A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.

  • A Framework For Investigating Commercial Loan Fraud

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    As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.

  • Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Yellow Corp. Lease Assumption Shows Landlord Protections

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    Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.

  • How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet

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    A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.

  • The Clock Is Ticking For Fla. Construction Defect Claims

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    Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.

  • Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • Ohio Tax Talk: The Legislative Push For Property Tax Relief

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    As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.

  • Tips For Advising CRE Owners Affected By Houston Storms

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    As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.