Commercial
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January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
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January 31, 2025
Owners Appeal Docs Order In Yale's $435M Hospital Sale Fight
Three companies that own property occupied by bankrupt Prospect Medical Holdings Inc. hospitals in Connecticut have appealed a state trial court judge's order to provide documents to Yale New Haven Health in a fight over a $435 million purchase agreement.
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January 31, 2025
Property Plays: Surfside, Citadel, El Tropicano
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
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January 31, 2025
Weyerhaeuser Exec Says Tariffs Could Raise Lumber Prices
Hours before President Donald Trump announced new tariffs on imports from Canada, Mexico and China, Weyerhaeuser Co. CEO Devin Stockfish said such duties could push the cost of lumber imported from Canada higher.
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February 14, 2025
Law360 Seeks Members For Its 2025 Editorial Boards
Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.
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January 31, 2025
NJ Event Venue Hits Ch. 11 After $11M Loan Foreclosure
A New Jersey event venue under construction called The Chariot has filed for Chapter 11 protection in New Jersey after its bank took foreclosure action on its $11 million loan, with the business' co-owner saying the debtor launched the insolvency proceedings to get some "breathing room" as it works toward opening the sprawling restaurant and catering space.
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January 31, 2025
NJ Firm Blasts Pier Investment Suit As 'Shameless Fiction'
Hankin Sandman Palladino Weintrob & Bell has urged a New Jersey federal court to toss a Garden State couple's legal malpractice lawsuit over their investment in an Atlantic City Boardwalk amusement park, arguing that their claims are barred by the state's entire controversy doctrine and are "premised on knowing falsities and fail on the merits."
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January 31, 2025
Data Centers Blur Lines At BigLaw Firms
The rise in complex, hybrid data center deals is increasingly calling for real estate, infrastructure and private equity attorneys to work together and, in some cases, to combine their practice groups.
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January 31, 2025
NY Nursing Home Sale Request Delayed By Union Dispute
A bankrupt 588-bed Long Island nursing home Friday postponed its request that a New York bankruptcy judge approve the sale of its facility while its union workers and its proposed buyer try to work out the terms of their future contract.
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January 30, 2025
Hotel Guests Get Backing For Algorithmic Pricing Suit
Hotel guests accusing a group of Atlantic City properties of using shared software to fix room rates are getting a helping hand in their Third Circuit fight to revive their suit from antimonopoly interest groups, who filed in separate amicus briefs in support of their effort this week.
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January 30, 2025
Industrial Services PE Firm Lands $425M For Debut Fund
An industrial services-focused private equity firm, guided by Kirkland & Ellis LLP, said Jan. 30 it wrapped its inaugural fund with $425 million in tow.
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January 30, 2025
Trump Tariffs Could Raise LA Fire Insurance Recovery Costs
Large new tariffs under the second Trump administration could increase the cost of recovery efforts in Los Angeles for a series of major fires that are already expected to come with record-setting expenses for the insurance industry, according to experts.
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January 30, 2025
Historic Soda Co. Says Ex-Officer's Lease Suit Is 'Revenge'
Foxon Park Beverages Inc., a century-old soft drink maker in Connecticut, has asked a state court judge to dismiss a lawsuit alleging that it entered into an unfair lease agreement with another company owned by the same family, arguing that the entities' former president brought it for an improper purpose.
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January 30, 2025
Agency In NJ Town Loses Retrial Bid In $26M Land-Taking Fight
A New Jersey federal judge has denied a redevelopment agency's bid for a new trial in a land-taking battle after a jury determined it should pay $25.6 million for a 22-acre former Michelin Tire & Rubber Co. factory, ruling that it failed to meet the high bar set to overturn a verdict.
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January 30, 2025
Fla. Board OKs $450M Plan To Build Acute Care Hospital
A Florida hospital board gave the green light for a $450 million plan to build a six-story, "hurricane-hardened" acute care hospital in North Port, Florida, that's expected to start operating in fall 2028, the Sarasota Memorial Health Care System announced.
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January 30, 2025
Croatia Fends Off 2nd Claim Over Luxury Golf Resort
Croatia has prevailed in a second claim initiated by an Israeli investor in a proposed development of luxury villas, hotels and golf courses after an international tribunal ruled Wednesday that the case repeated previously rejected claims, the country's counsel said.
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January 30, 2025
Crypto Cos. Seek $6.3M From Travelers Over Building Fire
A pair of cryptocurrency mining companies accused two Travelers units of exacerbating their fire loss, telling a Michigan federal court that they negligently allowed individuals to steal their mining machines and hired a debris removal contractor that caused the property to collapse, seeking more than $6.3 million in damages.
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January 30, 2025
MoFo Guides Welltower's $900M Senior Living REIT Deal
Healthcare real estate investment trust Welltower Inc. plans to acquire NorthStar Healthcare Income Inc., a senior living facility REIT, in a $900 million deal led by Morrison Foerster LLP.
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January 30, 2025
Fla. Firm's $1M Loan Dispute Returns To NJ State Court
A New Jersey federal judge has remanded a suit accusing a Florida firm and a lender of fraudulently inducing an investor to make a down payment of more than $1 million on a loan that never materialized, according to a Thursday court order.
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January 30, 2025
Blackstone Bullish On Data Center Demand As AI Evolves
Trillion-dollar asset management firm Blackstone Inc. said it had one of the best quarters in the firm's history in a call with analysts on Thursday, and although real estate was not a bright spot, the firm touted its private credit business and data center demand despite competing Chinese artificial intelligence.
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January 30, 2025
Gov't Urges High Court To OK 2nd 'Buffalo Billion' Trial
The federal government asked the U.S. Supreme Court to clear the way for a second trial in a public corruption case tied to former New York Gov. Andrew Cuomo's "Buffalo Billion" development initiative, saying prosecutors should be allowed to pursue charges under a different theory after the justices undid the original convictions.
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January 29, 2025
Experts Expect Tweaks, Not Teardown, For Renewable Credits
A Trump administration order to pause "green new deal" programs shouldn't halt tax credits for renewable power overnight, legal experts say, even if those programs and others within the 2022 Inflation Reduction Act could face fresh scrutiny.
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January 29, 2025
SEC Says PE Firm Defrauded Investors In $1B Fund
The U.S. Securities and Exchange Commission sued a private equity firm in Florida federal court Wednesday, alleging that it defrauded investors in a $1 billion fund by, among other things, falsely promising to segregate their assets and by transferring tens of millions of dollars into bank accounts held by the fund's leading executives.
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January 29, 2025
$17M Punitive Award Reversed In Miami Hotel's Noise Suit
A Florida state appeals court on Wednesday upheld sanctions against the owner of two Miami Beach hotels for committing fraud on the court in a commercial landlord-tenant dispute, but the court threw out a $17.4 million punitive damages award and ordered a new trial on that issue.
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January 29, 2025
Senate Banking Committee Forms NFIP Working Group
With the National Flood Insurance Program's authorization set to expire in March, the U.S. Senate Committee on Banking has formed a working group to reform the program and work toward long-term reauthorization, a press release from committee chairman and South Carolina Republican Sen. Tim Scott said.
Expert Analysis
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Best Practices For Lenders To Limit Recourse Liability
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.
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The Basics Of Being A Knowledge Management Attorney
Excerpt from Practical Guidance
Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.
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Rising Interest Rates Bring Risk For Construction Contractors
With rising interest rates causing many construction projects to be slowed or halted, it's important for general contractors to implement safeguard measures against the risk of significant financial losses caused by owner-driven schedule modifications, says Kevin Riexinger at Gfeller Laurie.
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Keys To Navigating The Post-Pandemic CRE Market
Excerpt from Practical Guidance
As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.
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How Rate Exportation Is Shifting Amid Regulatory Trends
All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.
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How The Commercial Real Estate Slump May Weigh On Banks
The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.
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Negotiating Material Escalation In Construction Contracts
As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.
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Landlords Should Prep As WeWork Faces Potential Ch. 11
After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.
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Key Drivers Behind Widespread Adoption Of NAV Financing
While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.
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Conn. Ruling Highlights Keys To Certificate-Of-Need Appeals
The Connecticut Supreme Court's recent decision in High Watch Recovery Center v. Department of Public Health, rejecting rigid application of statutes concerning certificate-of-need procedure, provides important guidance on building an administrative record to support a finding that a case is contested, say attorneys at Robinson & Cole.
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Pickleball Makes Waves In Fla. Real Estate, With Risks In Play
Pickleball's burgeoning popularity in Florida is catalyzing a transformation in the state's commercial real estate market, but investors must take steps to navigate legal challenges related to noise, insurance and community dynamics, says Emmanuelle Litvinov at DarrowEverett.
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4 Business-Building Strategies For Introvert Attorneys
Excerpt from Practical Guidance
Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
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What Calif. Pot Permit Ruling Means For Enviro Compliance
While a California appeals court's recent decision in Lucas v. City of Pomona affirms the city's use of a statutory exemption for its commercial cannabis overlay permit program, the ruling does not mean that all applicants seeking similar approvals are exempted from state environmental compliance obligations, say Whitney Hodges and Barbara Machado at Sheppard Mullin.