Commercial

  • June 03, 2024

    REIT To Replace Trustees Targeted In Proxy Contest

    Shopping center operator Whitestone REIT plans to replace two board members following an activist shareholder's unsuccessful attempt to oust the pair in a recent proxy contest, the real estate investment trust said Monday.

  • June 03, 2024

    Herrick Feinstein Guides Hotel From Lease Suit To $177M Sale

    What began as a simple commercial lease action tied to a swanky hotel in New York City morphed into a complex adversary proceeding, which a Herrick Feinstein LLP team recently brought to a close, paving the way for the property's $177 million sale to EOS Hospitality.

  • June 03, 2024

    RI Panel OKs Providence Unrestricted Property Tax Rates

    Rhode Island would allow the city of Providence to adopt a classification system that allows for unrestricted tax rates for the city's property classes under a bill moved to the Senate floor for consideration.

  • June 03, 2024

    NYC Real Estate Week In Review

    Dylan Chan Law Firm and Kevin Kerveng Tung were among the law firms that guided the largest New York City real estate deals that hit public records last week, a period that saw six transactions above the $15 million mark become public.

  • June 03, 2024

    Quarles & Brady Adds Real Estate Atty In Naples, Fla.

    Quarles & Brady said it has added a senior counsel in its real estate practice group to its Naples office from Kilinski Van Wyk.

  • June 03, 2024

    Real Estate Co., Nationwide Settle CFO Theft Dispute

    A New York federal judge agreed to dismiss a coverage dispute between a property management company and Nationwide Mutual Insurance Co. over nearly $1 million that the company's former chief financial officer was accused of stealing, following the parties' notice that they reached an agreement.

  • June 03, 2024

    Allen Matkins Lands 5-Atty Goodwin Real Estate Team In Calif.

    Allen Matkins Leck Gamble Mallory & Natsis LLP announced Monday that it has picked up a real estate transaction team from Goodwin Procter LLP in California with three partners, a senior counsel and an associate attorney.

  • June 03, 2024

    Conn. To Require Interest Waivers For Some Delinquent Taxes

    Connecticut will require municipal tax collectors to waive interest on delinquent property taxes when the delinquency is determined to be due to a mistake by a tax collector or assessor and not the taxpayer's fault under a bill signed by the governor.

  • June 03, 2024

    Ga. Student Housing-To-Hotel Conversion Nabs $80M

    Two real estate companies obtained $80 million in financing from investment firm Mavik Capital Management for a project that will turn a Savannah, Georgia-based building currently being used for student housing into a hotel, the investment firm announced Monday.

  • June 03, 2024

    Ohio Property Sale Price Not Timely Enough To Raise Value

    An Ohio property made up of four lots was properly valued and should not have its value increased based on a 2017 sale, because the sale was not timely, the state Board of Tax Appeals ruled.

  • June 03, 2024

    Calif. Justices Free Woman From Misdemeanor Pot Charges

    The California Supreme Court has thrown out misdemeanor cannabis-related charges against an 85-year-old woman, finding the trial court was within its discretion to consider her lack of knowledge of the unlicensed operation happening in her building.

  • May 31, 2024

    Texas Justices To Take On Parking Garage Easement Suit

    The Texas Supreme Court agreed Friday to review a Texas appellate court's decision granting judgment to a garage owner who refused to allow the tenants and employees of a downtown office building continue parking in the garage despite a written parking easement.

  • May 31, 2024

    9th Circ. Says LA's COVID-19 Eviction Ban Was No Taking

    The Ninth Circuit on Friday declined to reinstate a Los Angeles landlord's $100 million suit challenging the city's pandemic-era eviction ban, finding it didn't constitute a physical taking since the landlord "voluntarily opened" his property to tenants, and that loss of rental income itself doesn't establish a governmental taking.

  • May 31, 2024

    Healthcare REIT Closes $120M Loan For 8-Property Portfolio

    Diversified Healthcare Trust has finalized a deal for a 10-year, interest-only $120 million mortgage loan that's secured by eight of its properties located in seven states, the healthcare-focused real estate investment trust announced.

  • May 31, 2024

    IRS Can Seek Tax Beyond Bankruptcy Deal, 11th Circ. Affirms

    A deal between the IRS and an Alabama real estate developer to settle his tax debt for $2 million during Chapter 11 bankruptcy proceedings wasn't final, and the agency can demand additional taxes from him, the Eleventh Circuit affirmed Friday.

  • May 31, 2024

    Kirkland Guides Town Lane To $1.25B Debut Real Estate Fund

    Kirkland & Ellis LLP advised the close of an inaugural, $1.25 billion fund for Town Lane, a real estate firm founded by a brother-sister duo with decades of combined experience at Blackstone and Sycamore Partners, according to a Friday news release.

  • May 31, 2024

    Contractor, Insurers Settle NYC Four Seasons Coverage Row

    A New York federal judge dismissed a general contractor's suit seeking coverage from two insurers for an underlying $1 million action over damage to a Four Seasons hotel in midtown Manhattan, saying the parties have reached a proposed settlement.

  • May 31, 2024

    Atty Gets 2nd Suspension Over Sale Of $1.6M Painting

    The Florida Supreme Court approved a one-year suspension for a New Jersey-based attorney and real estate developer this week who pled guilty to smuggling a $1.6 million painting out of his house in 2013 to avoid an asset sale.

  • May 31, 2024

    Phoenix Office Activity Down Annually In Q1, CBRE Says

    The Phoenix area's office market notched negative absorption again in the first quarter of 2024, with vacancy rates remaining high and total leasing activity down on an annual basis, according to a CBRE report.

  • May 31, 2024

    WeWork's Winding Road Through Bankruptcy Court

    Office space provider WeWork won approval for its $4 billion Chapter 11 reorganization plan Thursday, overcoming opposition from landlords, unsecured creditors and its own founder to emerge debt-free under new equity ownership. 

  • May 30, 2024

    Only One Landlord Allowed To Duck DC RealPage Suit

    One of several landlords that stands accused by the District of Columbia of using property management platform RealPage to fix the price of rentals has managed to convince a D.C. Superior Court judge to kibosh the claims against the real estate investment trust permanently.

  • May 30, 2024

    Defendant Dropped From Calif. Broker Commissions Case

    A California federal judge has dismissed a multiple listing service from a proposed antitrust class action that accused the service and several real estate brokerages of engaging in a conspiracy to artificially inflate buyer broker commissions on home sales.

  • May 30, 2024

    Curaçao Expropriation Suit Tossed Over Sovereign Immunity

    A D.C. federal judge on Thursday tossed an Iranian American women's rights activist's $110 million suit accusing Curaçao's banking regulator of unlawfully seizing her stake in a $700 million investment company, saying the regulator has sovereign immunity and that, in any case, no expropriation had taken place.

  • May 30, 2024

    Only $100K Owed For NJ Theater's Virus Losses, Judge Says

    A Zurich unit owed a theater only $100,000 for its COVID-19-related losses under its policy's communicable disease coverage provision, a New Jersey federal court ruled, rejecting the theater's arguments that each public health order constituted a separate occurrence and that a "blanket" $1.9 million limit was applicable.

  • May 30, 2024

    Judge Finds US Owns Fla. Island In Long-Running Dispute

    A federal judge ruled that the government owns a vacant island off the harbor of Key West, Florida, in rejecting a developer's long-running claim to title, finding that the U.S. Navy has used the site as a buffer from forces such as hurricanes and private development.

Expert Analysis

  • Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

  • Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • The Challenges SEC's Climate Disclosure Rule May Face

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    Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

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    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Contract Disputes Recap: The Terms Matter

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    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.

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

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    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.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    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.