Commercial

  • 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.

  • May 09, 2024

    NY Appeals Court Says Parking Garage Is Rent-Stabilized

    A New York state appeals court on May 9 upheld a housing agency's decision finding that a parking garage in a building in the Bronx borough of New York City is rent-stabilized.

Expert Analysis

  • What Associates Need To Know Before Switching Law Firms

    Excerpt from Practical Guidance
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    The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

  • Guidance Adds Clarity To Energy Communities Bonus Credits

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    Recent IRS guidance on the Inflation Reduction Act's changes to tax credits for renewable energy projects offers much-needed pointers for developers and financing parties, and should allow them to more comfortably incorporate special bonus credits for projects in energy communities into their transactions, say Jorge Medina and Ira Aghai at Shearman.

  • Cannabis Supercenters: Key Benefits And Legal Issues

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    Barstow, California’s novel plan to convert an abandoned mall into a cannabis supercenter could offer a potential blueprint for cannabis companies to thrive in a saturated market and for communities to repurpose underutilized retail spaces — but certain financing, zoning and leasing issues will need to be assessed, says Christopher Gordon at Fox Rothschild.

  • A Case For Sharing Mediation Statements With Counterparties

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    In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.

  • EB-5 Reform Continues To Weigh Heavily On Participants

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    Recent U.S. Citizenship and Immigration Services guidance helps clarify aspects of the 2022 EB-5 Reform and Integrity Act, which increased oversight of EB-5 regional centers, but does not end the industry's continuing state of uncertainty, says Robert Divine at Baker Donelson.

  • Preparing For Legal Scrutiny Of Data Retention Policies

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    Two recent cases involving Google and Meta should serve as a call to action for companies to ensure their data retention policies are updated and properly implemented to the degree of being able to withstand judicial scrutiny, especially as more data is generated by emerging technologies, say Jack Kallus and Labeed Choudhry at Kaufman Dolowich.

  • Attorneys Should Have An Ethical Duty To Advance DEI

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    National and state bar associations are encouraging attorneys to apply diversity, equity and inclusion practices in the legal profession and beyond, and these associations should take it one step further by formally recognizing ethical duties for attorneys to promote DEI, which could better the legal profession and society, says Elena Mitchell at Moore & Van Allen.

  • Data-Driven Insights Are Key To Attracting Today's Clients

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    As law firm growth slows and competition for clients increases, modern firms must rely on robust data analytics to develop the sector-based expertise and industry insights that clients increasingly prioritize in relationships with counsel, says Lavinia Calvert at Intapp.

  • EV Chargers Can Bring Benefits For Calif. Property Owners

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    California property developers and owners face growing pressure to provide electric vehicle charging infrastructure — but this can be a unique opportunity to add value to real estate assets, and can be accomplished in multiple ways, say Riley Cutner-Orrantia and Eurie Hwang at Crosbie Gliner.

  • Brownfield Renewables Guidance Leaves Site Eligibility Murky

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    Recent IRS guidance sheds some light on the Inflation Reduction Act's incentives for renewable energy development on contaminated sites — but the eligibility of certain sites for brownfield status remains uncertain, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.

  • Pending Legislation Holds Promise For SF Buildings

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    Recently introduced state and local legislation could make it easier for office-to-residential conversion projects in San Francisco to secure approval and funding sources, although financial incentives similar to those implemented by other states may be necessary to ensure the feasibility of such projects, say Caroline Chase and Nick DuBroff at Allen Matkins.

  • Ghosting In BigLaw: Why Better Feedback Habits Are Needed

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    Not giving assignments or constructive criticism to junior associates can significantly affect their performance and hours, potentially leading them to leave the firm, but partners can prevent this by asking the right questions and creating a culture of feedback, says Rachel Patterson at Orrick.

  • SVB Collapse Underscores Policy And Regulatory Pitfalls

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    The recent failures of three American banks reveal hidden vulnerabilities, raise concerns about moral hazard, and highlight the need for tighter regulation and closer monitoring of unrealized investment-portfolio losses in the U.S. banking system, says attorney Patrick Meson.