Commercial

  • September 19, 2024

    76ers To Get New Philly Arena In $1.3B Project, Mayor Says

    The Philadelphia 76ers are getting a new arena in Chinatown as part of a $1.3 billion project that will bring hundreds of jobs, Philadelphia Mayor Cherelle Parker announced in a video message.

  • September 19, 2024

    Senate Panel Holds Steward CEO In Contempt After No-Show

    A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.

  • September 19, 2024

    Fla. Panel Backs Simon Option On Closed Boca Raton Sears

    A split Florida appeals court has sided with Simon Property Group in backing a trial court ruling that the owner of a Boca Raton mall has a right to buy a vacant Sears store after Seritage Growth Properties pitched a redevelopment plan out of line with a 1980s easement.

  • September 19, 2024

    EPA Claims No Mandate To Find, Regulate PFAS In Fertilizer

    The U.S. Environmental Protection Agency told a Washington, D.C., federal judge that it had no duty to regulate PFAS compounds that a group of farmers claimed were contained in agency-approved biosolid sludge spread on farmland as fertilizer.

  • September 19, 2024

    Logistics Developer Nets $205M To Refi Warehouse Projects

    Logistics Property Company LLC has obtained a $205 million permanent loan in order to refinance five U.S. warehouse projects that take up almost 2.7 million square feet in total, the logistics real estate developer and operator announced.

  • September 18, 2024

    Insurers Demand Arbitration Of La. Storm Damage At 2nd Circ.

    A Second Circuit panel puzzled over whether to uphold a New York federal court's ruling denying surplus insurers arbitration in a Louisiana hurricane damage case, during oral arguments over whether the court should follow Bayou State law prohibiting arbitration or reverse the lower court's decision.

  • September 18, 2024

    5th Circ. Favors Excess Insurer In Marina Coverage Dispute

    The Fifth Circuit upheld a ruling in an inter-insurer dispute over coverage responsibilities of a $13.7 million judgment entered against their mutual client, holding Wednesday that while the excess insurer breached its duties, the primary insurer bears the larger financial burden because it failed to properly settle the underlying dispute.

  • September 18, 2024

    5 New Stadiums Under Consideration This Year

    A handful of sports stadium projects have been proposed by professional teams in the U.S. and are under consideration throughout the country. Here's a roundup of each proposal and its status.

  • September 18, 2024

    Mich. Town Wants Stay During Appeal Over $2B Battery Plant

    A central Michigan township has asked a federal judge to pause enforcement while it appeals a previous ruling finding local officials violated a development agreement by trying to withdraw support for a more than $2 billion battery components plant to be built by Gotion Inc.

  • September 18, 2024

    Convicted Pastor, An NYC Mayor Ally, Denied Bail For Appeal

    A Brooklyn pastor and reported friend of New York City Mayor Eric Adams who was convicted of fraud in March has been denied bail by the Second Circuit while he appeals the jury verdict and his nine-year prison sentence.

  • September 18, 2024

    WillScot, McGrath RentCorp Nix $3.8B Deal Over FTC Scrutiny

    Temporary space solutions provider WillScot Holdings Corp. and business-to-business rental company McGrath RentCorp on Wednesday unveiled that they have agreed to nix their $3.8 billion merger because there was "no commercially reasonable path" to clear the regulatory hurdles the deal has bumped into since it was announced.

  • September 18, 2024

    Holland & Knight Hires Ex-Ballard Spahr Real Estate Partner

    Holland & Knight LLP hired former Ballard Spahr LLP real estate financing partner Jeffrey Page for its real estate team in New York, the firm announced.

  • September 18, 2024

    NYC Real Estate Week In Review

    Segal & Segal and Yeung & Wang are among the law firms that guided the largest New York City real estate deals that hit public records last week, a period that saw seven deeds at or above the $20 million mark become public.

  • September 18, 2024

    Avangrid Unit Defends Counterclaim In Cleanup Battle

    An Avangrid Inc. unit has urged a Connecticut state judge not to throw out its counterclaim against the state's commissioner of energy and environmental protection in her suit accusing the utility of moving too slowly on an ordered cleanup of a shuttered power plant site, arguing the government is acting outside its authority.

  • September 18, 2024

    Northwind Lends $120M For Manhattan Residential Condo

    Northwind provided a $120 million first-mortgage inventory loan for a 65-unit residential condominium building in New York that was recently completed in the city's midtown Manhattan area, the real estate private equity firm announced Tuesday.

  • September 18, 2024

    Private Firms Pool Cash, Combine To Join Energy Transition

    A thrust to install new clean energy infrastructure is changing how investors view the business of utilities, experts say. Despite a downturn in infrastructure investment last year, larger fund managers have consolidated to acquire infrastructure-focused funds so far in 2024, with others buying into regulated infrastructure or stocking more dry powder.

  • September 17, 2024

    Univ. Can Expand Coastal Campus, Mass. Appeals Court Says

    A Massachusetts university has no obligation to preserve for public use 12 acres of land in a coastal town just north of Boston, the state's intermediate-level appeals court ruled.

  • September 17, 2024

    Ex-Skadden Atty Joins Board Of Oil Property Co. LandBridge

    Oil property acquirer LandBridge Co. has added a former Skadden Arps Slate Meagher & Flom LLP partner to its board, where the company hopes to benefit from her capital markets and corporate governance expertise.

  • September 17, 2024

    Ex-GT Attorney Joins Jones Day's Real Estate Ranks

    A real estate attorney with a background in digital infrastructure work is moving from Greenberg Traurig LLP to the Washington, D.C., office of Jones Day.

  • September 16, 2024

    Schnader Harrison Inflated Bills Before Collapse, Suit Says

    A Philadelphia-based real estate company caught up in a contract dispute over an allegedly botched North Carolina development project has accused the defunct Schnader Harrison Segal & Lewis LLP of engaging in a "phantom billing scheme" to boost the firm's revenue ahead of its eventual dissolution last September.

  • September 16, 2024

    CoStar Subscriber Settles Suit Over Property Records Access

    Real estate data and analytics provider CoStar Group Inc. has reached a deal with former subscriber Leon Capital Group LLC to settle its claims that Leon downloaded property records from CoStar's database that it was not authorized to access, in a deal that permanently bars Leon Capital from accessing CoStar's data without authorization.

  • September 16, 2024

    Carlyle Commits $1B To Clean Real Estate Finance Co.

    Investment giant Carlyle said Monday that it has taken a stake in and committed $1 billion to real estate finance company North Bridge, which will be used toward green commercial upgrades.

  • September 16, 2024

    King & Spalding Nabs Ex-Arnold & Porter RE Finance Pro

    A former Arnold & Porter partner has brought his real estate and finance expertise to the New York office of King & Spalding.

  • September 16, 2024

    King & Spalding, Winston Rep Hospice Facilities Deal

    Healthcare investment banking firm Provident Healthcare Partners said Monday it assisted Crossroads Hospice & Palliative Care in its sale of a handful of hospice and palliative care facilities, in a deal crafted by King & Spalding LLP and Winston & Strawn LLP.

  • September 16, 2024

    Ares Tops $3.3B For Latest US Distressed Real Estate Fund

    Ares said Monday it pulled in more than $3.3 billion for its fourth fund targeting distressed U.S. real estate assets, as the asset manager looks to capitalize on a troubled market.

Expert Analysis

  • Utilizing Liability Exemption When Calif. Cities Lease Property

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    With rising costs pushing California municipalities to lease real estate assets instead of purchasing them, municipalities should review the ample case law that supports certain exceptions to California Constitution Section 18(a) requirements, providing that certain long-term lease obligations are not considered to be liabilities, says Steven Otto at Crosbie Gliner.

  • How NJ Worker Status Ruling Benefits Real Estate Industry

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    In Kennedy v. Weichert, the New Jersey Supreme Court recently said a real estate agent’s employment contract would supersede the usual ABC test analysis to determine his classification as an independent contractor, preserving operational flexibility for the industry — and potentially others, say Jason Finkelstein and Dalila Haden at Cole Schotz.

  • A Checklist For Lenders Preparing For CRE Loan Defaults

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    Considering the recent interest rate environment, lenders should brush up on the proper steps that they should take when preparing to respond to a borrower's default on a commercial real estate loan, and borrowers should understand what lenders will be reviewing, says attorney Norma Williams.

  • 7th Circ Joins Trend Of No CGL Coverage For Structural Flaws

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    The Seventh Circuit, which recently held potential structural instability did not count as property damage under a construction company's commercial general liability policy, joins a growing consensus that faulty work does not implicate coverage without tangible and present damage to the project, say Sarah Abrams at Baleen Specialty, and Elan Kandel and James Talbert at Bailey Cavalieri.

  • Criminal Enforcement Considerations For Gov't Contractors

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    Government contractors increasingly exposed to criminal liability risks should establish programs that enable detection and remediation of employee misconduct, consider voluntary disclosure, and be aware of the potentially disastrous consequences of failing to make a mandatory disclosure where the government concludes it was required, say attorneys at Crowell & Moring.

  • Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • The Often Overlooked NY Foreclosure Notice Requirements

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    As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • A Case Study For Calif. Cities In Water Utility Takeovers

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    With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.

  • Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Lower Courts May Finally Be Getting The Memo After Ciminelli

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    A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.

  • A Framework For Investigating Commercial Loan Fraud

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    As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.

  • Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.