Commercial

  • June 12, 2024

    Historic Brownfields Funding Is Fueling Cleanup Catch-Up

    Under the time crunch of the Bipartisan Infrastructure Law, funding for brownfield cleanups has increased by more than 700% in the last three years as cities and nonprofits vie to tackle their most complex sites.

  • June 12, 2024

    Ohio Tax Board Undoes Vacant Eatery's COVID-19 Value Cut

    An Ohio County Board of Revision erred when it lowered a vacant restaurant property's value after the property owner argued the value had dropped as a result of the COVID-19 pandemic, the state Board of Tax Appeals ruled.

  • June 12, 2024

    Perkins Coie Real Estate Chair Eyes Energy As Rates Hold

    As the Federal Reserve continues to hold on interest rates and hint that it may take longer to start lowering them, more real estate investors are looking to alternative energy projects, Perkins Coie's real estate leader told Law360 Real Estate Authority in a recent interview.

  • June 11, 2024

    Insurer Given Early Exit From Contractor's Cost Overrun Suit

    An insurance company was axed Monday from a general contractor's $8.5 million lawsuit against a developer seeking payment for its work building an apartment complex, with a North Carolina state court judge ruling it was too soon to rope in the insurer.

  • June 11, 2024

    Vornado JV Inks $400M Refi For NYC Office, Retail Building

    A street retail joint venture led by Vornado Realty Trust secured a $400 million refinancing for a 315,000-square-foot office and retail property at 640 Fifth Avenue in Manhattan, according to a statement from Vornado on Monday.

  • June 11, 2024

    WeWork Announces CEO Switch As It Leaves Ch. 11

    WeWork, fresh from the confirmation of its Chapter 11 restructuring plan, said Tuesday it will be led by John Santora, who will take over as CEO as the company leaves bankruptcy behind.

  • June 11, 2024

    Cannabis REIT Will Invest $43M Into Purchased Fla. Land

    Cannabis-focused real estate investment trust Innovative Industrial Properties Inc. plans to invest $43 million into 16 acres of Ocala, Florida, land that it bought for $13 million.

  • June 11, 2024

    Net Lease REIT Sells 2 Office Properties For $60.7M

    Net Lease Office Properties said Tuesday that it has sold two Minnesota office properties leased to Blue Cross Blue Shield for a combined $60.7 million. 

  • June 10, 2024

    3 Firms Guide $125M ND Data Center Construction Loan

    CIM Group announced Monday that the investment firm closed on a $125 million loan to Applied Digital for the company's construction of a North Dakota data center campus, in a deal guided by Simpson Thacher & Bartlett LLP, Milbank LLP and Lowenstein Sandler LLP.

  • June 10, 2024

    NYC Tells 2nd Circ. No Sanctions In COVID Rent Law Suit

    New York City told the Second Circuit that its late-in-the-game jurisdictional arguments don't warrant sanctions amid litigation over pandemic protection for commercial real estate tenants, arguing that it raised the claims as soon as possible.

  • June 10, 2024

    Ex-Real Estate Business Partners Duel In Calif. Court

    Two former real estate business partners lodged dueling suits against each other in California state court with accusations of backstabbing, theft and lying.

  • June 10, 2024

    Conn. Hospital Broke $4.25M Property Sale Deal, Buyer Says

    A Connecticut hospital has been accused in state court of breaking its $4.25 million property sale contract after the sale was called off following the hospital's merger with Northwell Healthcare Inc.

  • June 10, 2024

    Manhattan Office Leasing Up Again From 2023, Per CBRE

    Leasing activity in Manhattan's office market remained elevated in May compared to a year prior, with a Covington & Burling LLP deal leading the way as the month's biggest transaction, CBRE said Monday.

  • June 10, 2024

    Co. Says 16 Intervenors Will Drag Out Alaska Mine Dispute

    A company seeking relief from a U.S. Environmental Protection Agency decision to block a mining proposal for a stretch of pristine salmon habitat on Alaska's Bristol Bay asked a federal judge to exclude more than a dozen environmental groups from joining the case.

  • June 07, 2024

    Federal Realty Exits Santa Monica Outdoor Mall For $103M

    Federal Realty Trust said it has exited Santa Monica, California's struggling Third Street Promenade by selling off a group of eight properties in the outdoor mall near the city's pier for $103 million.

  • June 07, 2024

    DOE Reveals National Definition Of Zero-Emissions Building

    The U.S. Department of Energy unveiled a federal definition for determining whether a residential or commercial building qualifies as a zero-emissions building as part of an ongoing effort to slash greenhouse gas emissions across the traditionally heavily emitting sector.

  • June 07, 2024

    NYC Hotel Land Sale Ends $275M Lease Dispute

    An investment group led by David Werner sold a Manhattan hotel property to an affiliate of Highgate Capital Investments LP for $275 million in a deal overseen by Latham & Watkins LLP, per county property records filed June 6.

  • June 07, 2024

    Real Estate Co. Will Begin $170M Houston Tower Project

    A Tennessee-based real estate company is set to begin construction on a $170 million, 37-story, mixed-use, Class A tower project in Houston, Texas, in October, according to a filing with Texas' Department of Licensing and Regulation.

  • June 07, 2024

    Texas Top Court Denies Roofer's Challenge To Adjuster Laws

    The Supreme Court of Texas tossed on Friday a roofing company's challenge to the state's public adjuster licensing laws, saying that requiring a license or preventing certain conduct didn't violate the roofer's free speech rights.

  • June 07, 2024

    Bank Says Alzheimer's Center Owes $17M On Defaulted Loan

    An Alzheimer's care center owes Bank of Oklahoma nearly $17 million after it became the last of four memory care facilities to default on a $27.5 million loan that was used to refinance their mortgage debt, according to a complaint filed in Georgia federal court.

  • June 07, 2024

    Miami Official Can't Shake Zoning Abuse Claims

    A Miami commissioner can't escape allegations that he and other city officials conspired to sabotage local businesses with zoning and safety laws after a pair of business owners backed the commissioner's opponent in a 2017 election, a Florida federal judge ruled.

  • June 07, 2024

    MoFo, Foley & Lardner Guide $695M Sale Of Construction Biz

    Middle-market private equity firm Palladium Equity Partners LLC has sold a construction company to an affiliate of electrical solutions company nVent Electric PLC for $695 million in a deal guided by Morrison Foerster and Foley & Lardner LLP, according to an official announcement.

  • June 07, 2024

    Zurich, Loan Co. Settle $15M Ex-3M Campus Repairs Suit

    The lender and current title owner for a now-foreclosed Austin property that was once the campus of 3M reached a settlement in principle with a Zurich unit over coverage for their $15.5 million winter storm damage claim, the parties told a Texas federal court.

  • June 07, 2024

    Willkie Farr Guides RFR's $560M Sale Of NYC Gallery Building

    In a deal guided by Willkie Farr & Gallagher LLP, Aby Rosen's RFR Holding offloaded a Manhattan art gallery, office and retail property for $560 million, per New York property records.

  • June 06, 2024

    La. Commercial Property Co. Settles Storm Insurance Dispute

    A Louisiana federal judge has dismissed a commercial property owner's coverage fight over windstorm damage after the company settled in arbitration with a group of 10 insurers.

Expert Analysis

  • How Investors Can Seize Renewables Opportunities In RE

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    As governments and stakeholders increasingly focus on sustainability in the real estate sector, investors could capture significant upside by implementing an operational real estate strategy focused on renewable energy sources, say attorneys at Goodwin.

  • Insurance Cos. Are Stretching Construction Standard Limits

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    In the construction sector, the importance of closely vetting downstream parties' insurance policies has never been more critical — owners and general contractors need to be on the lookout for ever broader carrier-specific expansions of standard insurance provisions that are perilous for risk transfer, says Eric Clarkson at Saxe Doernberger.

  • Potential WeWork Bankruptcy May Disrupt Coworking Spaces

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    If WeWork files for bankruptcy, as hinted at in its recent quarterly earnings report, landlords may struggle to take over management of WeWork's coworking spaces, but the coworking industry as a whole is showing some promise in adapting to the market's evolving post-pandemic office needs, says Ann Chandler at Hall Estill.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • A Cautionary Tale Of Flawed Debt Accounting And SEC Fines

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    The U.S. Securities and Exchange Commission's recent improper-accounting charges against Malvern Bancorp and its ex-CFO highlight crucial practice issues, including the need to objectively evaluate borrowers' credit, say attorneys at Arnold & Porter.

  • Bat's Newly Endangered Status Likely To Slow Development

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    A recent change in the classification of the northern long-eared bat from "threatened" to "endangered" could have significant effects on development in large portions of the Eastern and Southeastern U.S. — and in the absence of straightforward guidelines, developers will have to assess each project individually, says Peter McGrath at Moore & Van Allen.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Litigation Can Facilitate EB-5 Investor Visa Determinations

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    Processing times in the EB-5 investor visa program continue to rise, but filing a mandamus claim in the right venue against U.S. Citizenship and Immigration Services may offer applicants mired in delay a means to expedite processing, says Mark Stevens at Clark Hill.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • Regulators Must Get Creative To Keep Groundwater Flowing

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    Even as populations have boomed in Sun Belt states like Arizona, California and Texas, groundwater levels have diminished due to drought and overuse — so regulators must explore options including pumping limits, groundwater replenishment and wastewater reuse to ensure future supplies for residential and commercial needs, says Jeffrey Davis at Integral Consulting.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Best Practices For Lenders To Limit Recourse Liability

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    As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.