Commercial

  • May 14, 2024

    Cos. Ask NY Court To Invalidate 100s Of Pot Licenses

    New York state's beleaguered cannabis oversight agency has been hit with another lawsuit, this one seeking to invalidate hundreds of retail licenses that regulators issued to those most directly affected by the enforcement of marijuana prohibition laws.

  • May 14, 2024

    Property Deals See More Scrutiny As Tip Sparks Forced Sale

    The Committee on Foreign Investment in the United States is likely this year to look at additional real estate deals near government property, experts told Law360 Tuesday, a day after the White House ordered a real property divestment near a Wyoming Air Force base following national security concerns.

  • May 14, 2024

    Goldman Sachs Secures $7B For Real Estate Credit Investing

    Goldman Sachs Alternatives pulled in more than $7 billion in its latest credit-focused fund and related investment vehicles, as the firm goes after financing opportunities in dislocated real estate markets across the world.

  • May 14, 2024

    Feds Dodge Salt Lake City's Suit Over $1B Gondola Plan

    A Utah federal judge on Tuesday dismissed the federal government from a Salt Lake City lawsuit challenging federal approvals of a $1 billion plan to address traffic congestion by building the world's longest gondola.

  • May 14, 2024

    Tenn. Judge Wants Default Win For Bank But No Atty Fees

    A Tennessee magistrate judge recommended partially granting a default judgment win to a bank suing a Florida-based developer accused of defaulting on about $15.3 million in loans, but also suggested denying the bank attorney fees.

  • May 14, 2024

    Polsinelli Grows With 2 CMBS Experts From Kilpatrick

    Polsinelli PC has brought on two shareholders in Florida and North Carolina from Kilpatrick Townsend & Stockton LLP, bolstering the firm's real estate finance and financial services offerings, according to a Tuesday announcement.

  • May 14, 2024

    London-Based Legal Recruiter Opens 1st US Shop In Miami

    London-based legal recruiting firm Buchanan Law announced Tuesday that it is opening its first U.S. location and second shop overall in Miami, touting the city's status as a principal hub for the country's East Coast legal industry.

  • May 13, 2024

    REIT Inks Deal To End Investors' Board Takeover Bid

    Presidio Property Trust has agreed to nominate one new director to its board, ending a Zuma Capital Management-led investor group's bid to replace five of the real estate investment trust's six board members, in a deal guided by three law firms. 

  • May 13, 2024

    Petersen Health Receivership Deal Draws US Trustee Concern

    Senior living chain Petersen Health Care Monday told a Delaware bankruptcy judge it has struck a deal to resolve the status of a number of its facilities that are in receivership, but the U.S. Trustee's Office said the deal may bend the Bankruptcy Code too far.

  • May 13, 2024

    NJ Justices Hold Contract Supersedes Real Estate Wage Law

    The contract a real estate agent signed deeming him an independent contractor is enough to resolve his claims of improper wage deductions, the New Jersey Supreme Court ruled Monday, saying that a state three-prong test doesn't need to apply.

  • May 13, 2024

    White House Bars Real Estate Deal Near Air Force Base

    President Joe Biden is ordering a recent purchaser of real estate near an Air Force base in Wyoming to sell portions of the property, based on a public tip and a finding from the Committee on Foreign Investment in the United States that cryptocurrency mining there presents a national security risk.

  • May 13, 2024

    Nursing Home Says Buyer's Lease Silence Endangers Future

    An Ohio-based nursing home operator claimed Monday that its Pickaway County nursing home is in "imminent danger" because the company's owners are threatening the licensing and management of the nursing home by refusing to acknowledge terminated leases and not making the transition to a new lessee and operator.

  • May 13, 2024

    NYC Real Estate Week In Review

    Dylan Chan Law Firm, Norris McLaughlin and Morgan Lewis are among the law firms that grabbed work on the largest New York City real estate deals to hit public records last week, a slow period that saw only three deeds above the $15 million mark become public.

  • May 13, 2024

    Colliers Says Outer Boroughs Industrial Leases Jumped In Q1

    Industrial leasing in New York City's outer boroughs picked up in the first quarter, with a film studio leasing in central Queens leading the way, according to an analysis from Colliers.

  • May 10, 2024

    Vegas Hotels, Software Cos. Escape Price-Algorithm Suit

    A Nevada federal judge has permanently tossed a proposed class action that accused two software companies and multiple hotel operators of using an algorithm software in a price-fixing scheme for hotel room prices on the Las Vegas Strip.

  • May 10, 2024

    Boston's Industrial Market Seeing Vacancies Rise

    The vacancy rate of metropolitan Boston's industrial sector rose to 9.8% in 2024's first quarter, which is four percentage points higher than the rate seen at the end of 2021, Colliers reported Friday.

  • May 10, 2024

    Disney World's Lone Independent Resort Gets $734M Refi

    JLL's hotels and hospitality group said Friday that it had arranged a $735 million commercial mortgage-backed securities loan to refinance the Walt Disney Co.'s Swan & Dolphin resort, a 2,619-key property adjacent to theme parks in Lake Buena Vista, Florida.

  • May 10, 2024

    Activist Blasts REIT Buybacks, Hotel Sale During Proxy Fight

    Activist investor Blackwells Capital LLC has sharply criticized a plan by Braemar Hotels & Resorts to sell a California hotel for $165 million and use part of the proceeds for share buybacks as Blackwells is pressuring shareholders to shake up the board of the real estate investment trust at an upcoming meeting.

  • May 10, 2024

    Ex-Wife's Deal With Dallas CRE Firm Ends Kickback Claims

    The former wife of Dallas commercial real estate executive Clifford Fischer has agreed to drop a federal lawsuit accusing Fischer and members of an advisory board to his company of running a scheme to pay themselves unspecified millions in illegal kickbacks for business referrals.

  • May 10, 2024

    NY Judge Won't Toss Lender's Win In 3M Campus Suit

    A New York federal judge refused to reconsider a lender's victory over a loan guarantor who allegedly owed payments for a $64 million loan related to 3M's now-foreclosed Austin, Texas, campus, but found the billing too high when determining attorney fees.

  • May 10, 2024

    3 Takeaways From The Real Deal's New York City Forum

    Industry professionals at The Real Deal's New York City Real Estate Forum this year aired a lot of grievances about housing and development policies in the Big Apple and Empire State, though panels also touched on a major problem facing lenders. 

  • May 10, 2024

    Simpson Thacher, Sheppard Mullin Guide $246M NYC Deal

    Blackstone affiliates offloaded 21 properties surrounding New York City's John F. Kennedy International Airport to Terreno Realty Corp. in a $246 million deal guided by Simpson Thacher & Bartlett LLP and Sheppard Mullin Richter & Hampton LLP.

  • May 10, 2024

    3 Firms Advise On $250M Great Wolf Waterpark Financing

    VICI Properties Inc. said Friday it has originated a $250 million mezzanine loan as part of $1.5 billion in financing to waterpark operator Great Wolf Resorts Inc., in a transaction advised by Hogan Lovells, Simpson Thacher & Bartlett LLP and Cadwalader Wickersham & Taft LLP.

  • May 09, 2024

    10th Circ. Appeal May Expand Pollution Coverage In NM

    The Tenth Circuit will hear oral arguments May 20 to determine whether absolute pollution exclusions doom a New Mexico property owner's quest for $120,000 in defense coverage in a case attorneys say could determine the future of such environmental coverage in the state.

  • May 09, 2024

    Vinson-Led EnCap Lands $1.5B For Energy Transition Fund

    Vinson & Elkins LLP advised EnCap Investments LP on a $1.5 billion fund that seeks to invest in projects meant to decarbonize the power industry, as well as in low-carbon fuels and other green ventures.

Expert Analysis

  • Bankruptcy Ruling Shows Section 363's Magic Has Its Limits

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    The Ninth Circuit Bankruptcy Appellate Panel's recent ruling in Groves demonstrates that Section 363 — which allows a debtor-in-possession to sell their property in order to generate cash — fails as a tool when it’s used to turn a nondebtor entities' property into property of a debtor's bankruptcy estate, says Brian Shaw at Cozen O'Connor.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Shifts In The CRE Landscape Demand Creative Loan Solutions

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    An increase in commercial real estate loan workouts makes it critical for borrowers, lenders and other CRE participants to examine all the available options and remedies, including mortgage and mezzanine foreclosures, bankruptcy filings and property short sales, say attorneys at Goulston & Storrs.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • A Smoother Process For CRE Receiverships In Conn.

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    A newly effective Connecticut law concerning distressed commercial real estate provides a number of opportunities and strategic considerations for creditors, and should be watched even by counsel in other states as adoption of the law could become more widespread, say John Loughnane and Steven Coury at White and Williams.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.

  • CRE Guidance Helps Lenders Work With Struggling Borrowers

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    In recognition of growing troubles with commercial real estate loans, four federal regulators' recently updated loan accommodations guidance provides a helpful framework for approaching loan workouts without the punitive results of adverse classifications, say Jaclyn Grodin and Muryum Khalid at Goulston & Storrs.

  • NYC Cannabis Landlord Accountability Law Has Limitations

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    A recently passed bill in New York City, aiming to crack down on the illegal cannabis market by levying fines against landlords who knowingly lease to unlicensed sellers, contains loopholes that may potentially limit the bill’s impact and lead to unintended consequences, say attorneys at Falcon Rappaport.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Hedging Variable Interest Rates In A Volatile Market

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    Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.

  • Parsing FTC's Intercontinental-Black Knight Merger Challenge

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    The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Effectual Relief Questions Linger After Section 363 Ruling

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    In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.