Residential
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March 26, 2025
NYC Property Cos. Hit With Security Deposits Class Action
A proposed class of residential tenants accused a property manager and a property owner in New York federal court on Wednesday of violating state law by not placing their security deposits in accounts that would accrue interest and paying security deposits without accrued interest after the tenants moved out.
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March 26, 2025
JP Morgan REIT Buys Sunbelt Housing Projects For $67M
J.P. Morgan Real Estate Income Trust Inc. has bought two residential communities in Wilmington, North Carolina, and Atlanta for a combined $67 million as part of a larger strategy of investing in workforce housing, the company said Wednesday.
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March 26, 2025
Student Housing Dispositions Declined In 2024, Colliers Says
Dispositions of student housing properties mostly decreased among varying types of funds in 2024, according to a Colliers report.
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March 26, 2025
New FinCEN Rule Is 'Game Changer' For Real Estate Investors
The Financial Crimes Enforcement Network's stopgap rule removing beneficial ownership reporting requirements for U.S. companies significantly lightens the regulatory burden for investors, especially those in the real estate sector, attorneys told Law360 Real Estate Authority.
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March 26, 2025
Greystar Scores Partial Win In Eviction Fee Lawsuit
A Massachusetts federal judge has trimmed some claims from a proposed class action accusing a Greystar entity and a Boston residential building owner of unlawfully charging tenants legal fees related to eviction proceedings.
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March 26, 2025
Resi Buildings Next Up In $500M New Jersey Office Revamp
The Connell Co. unveiled plans on Wednesday for a luxury residential component of a 185-acre, mixed-use campus in Berkeley Heights, New Jersey, the latest phase in the owner's $500 million overhaul of an outdated office park.
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March 25, 2025
Home Sellers Oppose DOJ Statement In Mass. Listing Deal
Home sellers that agreed to a $3.95 million settlement with a multiple listing service over its broker commission rules are defending the deal from the U.S. Department of Justice's attacks, telling the Massachusetts federal judge weighing approval that the government has yet to suggest terms it would find acceptable.
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March 25, 2025
Insurers Must Face Heating Oil Buyers' $35M Coverage Suit
Customers who allege they suffered $35 million in damage after purchasing substandard heating oil can continue to seek coverage of underlying litigation, with a Massachusetts federal judge saying Tuesday their case contained enough controversy to deny insurers summary judgment.
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March 25, 2025
Hamilton Lane Buys Major Stake In $74M Multifamily Portfolio
Hamilton Lane Partners purchased an 85% stake in a $74 million portfolio of multifamily properties located in New York City's SoHo and West Village neighborhoods, the investment manager announced Tuesday.
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March 25, 2025
State Farm Beats Suit Alleging Property Loss Undervaluation
A Pennsylvania federal judge on Tuesday tossed a proposed class action brought by homeowners accusing State Farm of limiting compensation by improperly employing a "new construction" setting in software when calculating property damage, finding their policy did not require the insurer to use a specific computation method for loss calculations.
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March 25, 2025
NJ Judge Upholds Mansion Tax On Sale Of Doomed House
A New Jersey company that bought a property for $4.7 million after obtaining approval to demolish an uninhabitable farmhouse on the land and use the property for industrial purposes owes the state's so-called mansion tax on the purchase, the state Tax Court ruled Tuesday.
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March 25, 2025
Judge Orders HUD To Reinstate $30M In Housing Grants
A Massachusetts federal judge temporarily revived $30 million in housing anti-discrimination grants slashed by the Trump administration, explaining that his hands are essentially tied by a First Circuit ruling in a separate case reinstating teacher training grants.
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March 25, 2025
Colo. Atty Gave $2M Mineral Rights To Other Client, Suit Says
The special district for a Colorado residential community has sued its former lawyer and firms White Bear Ankele Tanaka & Waldron PC and Spencer Fane LLP for malpractice, claiming the attorney failed to secure its mineral rights, instead executing a deal that favored one of Spencer Fane's other clients.
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March 25, 2025
Miami Realtors Urge Creativity In Help For Condo Owners
With talk of a Florida condo crisis garnering national headlines and commanding significant attention during the state legislature's annual session, leaders at the Miami Association of Realtors said they hope lawmakers will take a creative approach and look to initiatives Miami-Dade County has pursued to help owners navigate these rough waters.
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March 24, 2025
NC Urges Court To Rule Fla. Realty Co. Duped Homeowners
The North Carolina Attorney General's Office has urged a state business court to find that a Florida real estate company targeted homeowners and tricked them into signing long-term predatory agreements in exchange for small cash advances, saying it is undisputed that the law was broken.
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March 24, 2025
PPR Capital Buys $87M Tenn. Build-To-Rent Community
Private equity real estate investment firm PPR Capital Management and real estate investment firm and developer Center Creek Capital Group collaborated on an $87 million acquisition of a Knoxville, Tennessee, build-to-rent community, PPR announced Monday.
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March 24, 2025
Colo. Tenants Accuse Centerspace Of Neglect, Junk Fees
Tenants at an apartment building in Denver, Colorado, have accused landlord Centerspace LP of neglecting the property, allowing refuse and safety violations to pile up even as it charged residents surprise junk fees, per a suit the landlord removed to Colorado federal court.
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March 24, 2025
NM House Requests Study Of Short-Term Rental Tax Policy
New Mexico's House of Representatives unanimously approved legislation requesting a study on how the state's tax policies and regulatory framework affect short-term rentals.
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March 24, 2025
Texas High Court Revives Developer's Floodplain Takings Suit
The Texas Supreme Court has said a developer can again argue at trial court that Houston's new floodplain system thwarted its planned community and amounted to a regulatory taking, even though the ordinance was a valid exercise of police power.
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March 24, 2025
NYC Real Estate Week In Review
Hogan Lovells and Sidley Austin are among the law firms that landed work on the largest New York City real estate deals that hit public records last week, a group of transactions that included a pair of nine-figure Manhattan deals.
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March 24, 2025
Comparable Homes Don't Lower Mass. Property's $430K Value
A Massachusetts home will remain valued at $429,500, a state tax panel said in a decision released Monday, rejecting the owner's arguments that the home valuation grew at a higher rate than that of comparable properties.
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March 24, 2025
No Evidence To Lower Home Value, Mass. Panel Says
A Massachusetts panel declined to drop a condominium unit's valuation in a decision released Monday, rejecting the owner's argument that local assessors had increased home valuations in that particular area more than for other homes in the town.
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March 21, 2025
NJ AG Says Landlord Discriminated Against Low-Income Renters
The New Jersey Division on Civil Rights has found probable cause that the owner of a Garden State apartment complex and its leasing agent allegedly discriminated against poor tenants through illegal minimum-income requirements, Attorney General Matthew J. Platkin announced Friday.
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March 21, 2025
Property Plays: Data Centers, Extell, Deauville
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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March 21, 2025
Hail Deductible Applicable In Colo. Townhomes' Storm Dispute
A homeowners association's insurer correctly applied a hail deductible when it issued a roughly $1,600 payment despite the association's $3.5 million damage estimate, a Colorado federal court ruled Friday, rejecting the association's argument that the deductible became void once the insurer breached the policy by underpaying coverage.
Expert Analysis
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How Southern Calif. Fires Can Affect National, Local Pricing
The fire-related California state of emergency declared last month in Los Angeles and Ventura counties triggered laws around price-gouging and pricing restrictions that affect not just individuals and businesses in the state, but also nationwide, meaning sellers should be mindful of how price changes are discussed and rolled out, say attorneys at Proskauer.
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CFPB Small Biz Study Brings Fair Lending Considerations
The Consumer Financial Protection Bureau's recent report highlighting potential racial discrimination in small business lending may not result in more aggressive enforcement under the Trump administration — but lenders can expect state regulators, private plaintiffs and advocacy groups to step up their own efforts, say attorneys at Husch Blackwell.
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Expect To Feel Aftershocks Of Chopra's CFPB Shake-Up
Publications released by Consumer Financial Protection Bureau personnel in the last days of the Biden administration outline former Director Rohit Chopra's long-term vision for aggressive state-level enforcement of federal consumer financial laws, opening the doors for states to launch investigations and pursue actions, say attorneys at Hudson Cook.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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Emphasize Social Spaces During RE Project Public Review
As Boston continues to work through revisions to its public review process for real estate projects, developers attempting to balance impact mitigation and community improvements may benefit from emphasizing the ways in which development plans can facilitate open social exchange, says David Linhart at Goulston & Storrs.
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Complying With Calif. Price-Gouging Law After LA Fires
The recent tragic Los Angeles fires have brought attention to the state's sometimes controversial price-gouging protections, and every California business should keep the law's requirements in mind, despite the debate over whether these statutes help consumers, say attorneys at Cooley.
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What Contractors Can Do To Address Material Cost Increases
In light of the Trump administration's plans to increase tariffs on Mexico, Canada and China, construction industry players should proactively employ legal strategies to mitigate the impacts that price increases and uncertainty may have on projects, says Brenda Radmacher at Seyfarth Shaw.
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Reg Waiver Eases Calif. Rebuilding, But Proceed With Care
California Gov. Gavin Newsom's executive order suspending some environmental review and permitting requirements for the reconstruction of homes and businesses damaged by recent wildfires may streamline rebuilding efforts, but will require careful navigation of the evolving regulatory landscape, says Gregory Berlin at Alston & Bird.
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A View Of The Shifting Insurance Regulatory Landscape
Attorneys at Eversheds Sutherland explore how the Federal Insurance Office's climate report, the new presidential administration and the California wildfires might affect the insurance regulatory landscape.
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The Tides Are Changing For Fair Access Banking Laws
The landscape of fair access banking laws, which seek to prevent banks from denying services based on individuals' ideological beliefs, has shifted in the last few years, but a new presidential administration provides renewed momentum for advancing such legislation against the backdrop of state efforts, say attorneys at Latham.
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How Congress Can Stem Consumer Finance Law Uncertainty
In the face of rising uncertainty about consumer finance laws that are based largely on fluctuating administrative rules, Congress should cement certain existing laws into statute and clarify federal agencies' delegations of authority, say attorneys at Bradley Arant.