Residential
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September 13, 2024
NC City Illegally Foiled Affordable Housing Effort, Builder Says
A coastal North Carolina city conspired to block an affordable housing project near the Camp Lejeune military base, flying in the face of demand, a project developer claimed in North Carolina federal court.
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September 13, 2024
Holland & Hart Adds Land Use Atty In Colorado
Holland & Hart LLP has brought a new partner into its Denver office, further building out its land use and real estate development offerings.
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September 13, 2024
Mortgage Co. CEO Gets 11 Years In Prison For Ponzi Scams
A mortgage company owner was sentenced Thursday to 11 years and three months in prison for defrauding investors, a community bank and the government's pandemic relief program to cover gambling debts and personal expenses like luxury cars, Philadelphia's top federal prosecutor announced.
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September 13, 2024
Holland & Knight RE Pro Joins Haynes Boone In Dallas
A former Holland & Knight LLP attorney whose practice centers on real estate finance and commercial real estate has come aboard at the Dallas office of Haynes and Boone LLP, marking the eighth lawyer to join the firm's real estate practice group this year, the firm announced this week.
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September 13, 2024
Property Developer Claims To Be Target Of Legal 'Vendetta'
The director of a defunct property developer has hit back against a claim that accuses him of breaching his duties to the company, as he argued that the "vexatious" case was brought as part of a "vendetta" by his former co-directors.
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September 12, 2024
RealPage Win On Phishing Recovery A Policyholder Boon
A federal judge's holding that an AIG unit cannot lay claim to RealPage's recoveries of phishing losses that it did not originally insure is a win for policyholders as disputes over cyber loss coverage and related subrogation become more common, experts told Law360.
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September 12, 2024
Corp. Disclosure Law Kills Community Boards, Nonprofits Say
The Community Associations Institute and other groups have sued the U.S. Department of the Treasury over the Corporate Transparency Act, arguing the law should not apply to them, violates constitutional rights and will lead to mass resignations from their community leadership boards.
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September 12, 2024
Madison Realty Lands $2B For Latest Real Estate Debt Fund
Madison Realty Capital wrapped up its sixth real estate debt fund with $2.04 billion, in what the private equity firm said Sept. 12 marks the largest such fund raised in the U.S. so far this year.
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September 11, 2024
Top DC Real Estate News From Summer 2024
Catch up on the hottest real estate news out of Washington, D.C., this summer, including shifting office footprints and building conversion incentives.
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September 11, 2024
Climate Risks Call For Proactive Resilience, Pros Say
Increasing climate change risks show the need for a more proactive approach to improving the resilience of high-risk communities, a task made more complicated by unabating development in high-risk areas and challenges in modeling and communicating risk.
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September 11, 2024
Phelps Dunbar Recruits 6 Litigators In Raleigh
Phelps Dunbar LLP has hired six lawyers in Raleigh to serve the business and litigation needs of companies in North and South Carolina, adding strength in health care, construction, employment and intellectual property.
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September 11, 2024
Minn. Homebuilders Pitch Permit Fee 'Catch-22' To High Court
A trade group of Minnesota homebuilders has asked the U.S. Supreme Court to review a lower court ruling on building permit fees imposed by two cities, arguing the ruling has created a Catch-22 by dismissing a Fifth Amendment takings clause claim before any court has determined whether the permit fees are valid under state law.
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September 11, 2024
Invitation Homes' $200M Summer Spend Added 580 SFRs
Single-family rental operator Invitation Homes acquired 580 homes in three key markets over July and August, for a total investment of roughly $216 million, the Dallas-based company said Tuesday.
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September 10, 2024
Fed Official Previews 'Broad' Changes To Bank Capital Plans
A top Federal Reserve official on Tuesday revealed plans to sharply revise draft bank capital rules proposed last year, including cutting in half the amount of additional capital the largest banks would have to hold while largely sparing midsize lenders from the proposed new requirements.
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September 10, 2024
Ex-McElroy Deutsch CFO's Ch. 11 Case Nixed As 'Bad Faith'
McElroy Deutsch Mulvaney & Carpenter LLP convinced a New Jersey bankruptcy judge to throw out the Chapter 11 filing of its former chief financial officer, who is behind bars for stealing over $1 million from the firm, with the judge finding Tuesday that the petition was brought in "bad faith" to stall related state litigation.
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September 10, 2024
Fannie Says Pa. Landlords Owe $60M For 7 Apt. Buildings
Fannie Mae is seeking foreclosure on roughly $60 million in overdue mortgage loans and interest tied to seven commercial properties in and around Philadelphia, according to a complaint filed in Pennsylvania federal court.
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September 10, 2024
Healthcare Real Estate Firm Pays $80M For 277 US Properties
Healthcare real estate investment shop Scioto Properties said Tuesday it has completed the $80 million purchase of a portfolio of 277 properties across 17 U.S. states, representing the largest transaction in the firm's quarter-century history.
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September 09, 2024
New Jersey Towns Fight New Affordable Housing Framework
Nine New Jersey towns have filed a constitutional challenge to the state's new affordable housing obligations framework, arguing it imposes responsibilities never envisioned by the decades-old doctrine that gave rise to the state's Fair Housing Act.
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September 09, 2024
Conn. Realtor Gets $4M From Luxury Property Co. In Fall Suit
A Connecticut state jury has awarded an injured realtor more than $4 million in his suit against luxury property company Hedgerow Properties LLC alleging an unsafe staircase caused him to fall and be injured.
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September 09, 2024
Subsidized DC Landlord Sued Over 'Deplorable' Conditions
District of Columbia Attorney General Brian L. Schwalb announced Monday that he was suing a local "slumlord" for repeatedly violating the district's codes for housing, construction and property management and wrongfully collecting government-subsidized rents by presenting his properties as safe despite "deplorable" conditions.
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September 09, 2024
Conn. Atty Defaults In Real Estate Client's Overcharge Suit
A Connecticut Superior Court clerk has entered a default judgment against a law firm accused of botching a real estate transaction, leaving the firm's namesake attorney to face allegations that he distributed home sale proceeds to unknown people and wrote a bad check to the true beneficiary of a trust.
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September 09, 2024
Illinois Judge Won't Block Chicago Rental Protections
An Illinois federal judge refused Friday to grant a property company an injunction blocking the enforcement of a Chicago ordinance intended to protect renters living in foreclosed residential properties by entitling them to $10,000 payouts.
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September 09, 2024
Apartment Cooperative Hits Chapter 11 Amid Takeover Fight
The management of Success Village Apartments Inc. has filed for Chapter 11 bankruptcy protection in the District of Connecticut, citing between $1 million and $10 million in debt, amid court battles with local communities and utility companies that sought to force the 900-unit housing cooperative into receivership.
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September 09, 2024
Greenberg Traurig Steers $225M Financing For NYC's ONE38
A Berkshire Residential Investments entity is providing $225 million in financing for a New York City apartment complex in two mortgage transactions guided by Greenberg Traurig LLP, according to official property records.
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September 09, 2024
NYC Real Estate Week In Review
Berliner & Pilson and Jeffrey Zwick are among the law firms that steered the largest New York City real estate deals that hit public records last week, a slow holiday-shortened period that saw only one matter above the $25 million mark become public.
Expert Analysis
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Skiing And Surfing Make Me A Better Lawyer
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.
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Zoning Reform May Alleviate The Affordable Housing Crisis
As America's affordable housing issues continue to worsen, zoning reform efforts can help to provide more affordable homes and mitigate racial and economic segregation, though opposition from residents and in courts could present challenges, say Evan Pritchard and Madeline Williams at Cozen O'Connor.
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NJ Justices Clarify First-Party Indemnification Availability
In Boyle v. Huff, the New Jersey Supreme Court recently held that indemnification can be available in first-party claims, resolving an open question and setting up contracting parties for careful negotiations around indemnity clauses, says Todd Leon at Marshall Dennehey.
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Fla. HOA Reforms Bring Major Wins For Homeowners
A recently signed law brings broad changes for homeowners associations in Florida, alleviating some pressure imposed by overly restrictive rules and potentially setting up litigation surrounding how HOAs enforce their governing documents, says Christopher Miller at Varnum.
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Addressing Labor Shortages In The Construction Industry
As the construction industry's ongoing struggle with finding sufficient skilled workers continues, companies should consider a range of solutions including a commitment to in-house training and creative contracting protocols, say Brenda Radmacher and Allison Etkin at Akerman.
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A Framework For Investigating Commercial Loan Fraud
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.
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Glassblowing Makes Me A Better Lawyer
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.
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How NY Co-Ops Can Minimize Sale Rejections Based On Price
New York co-op sales are regularly rejected for being below undisclosed price minimums, and co-op boards should address this problem by sharing information more transparently and allowing some flexibility for below-market sales, say Pierre Debbas and Seth Feldman at Romer Debbas.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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High Court's BofA Ruling Leaves State Preemption Questions
A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
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.
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The Clock Is Ticking For Fla. Construction Defect Claims
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.
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Wiretap Use In Cartel Probes Likely To Remain An Exception
Although the U.S. Department of Justice's Antitrust Division has recently signaled interest in wiretaps, the use of this technology to capture evidence of antitrust conspiracies and pursue monopolization as a criminal matter has been rare historically, and is likely to remain so, say Carsten Reichel and Will Conway at DLA Piper.