Commercial
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November 01, 2024
Big Lots Says $760M Bid Wins In Ch. 11 Auction
Discount retailer Big Lots got approval from a Delaware bankruptcy judge to sell off nearly three-dozen store leases the day after it said it had received no offers to beat a $760 million bid for the business as a whole.
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November 01, 2024
Ohio Makes Play To Enter Cleveland Browns' Stadium Suit
Ohio asked to join Cleveland as a defendant in a suit filed by the Cleveland Browns alleging that a state law impeding the NFL team's plan to move to another city within the state is unconstitutional.
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November 01, 2024
China-Based Investors Sue Over Tenn. Land Ownership Law
Two real estate investors who reside in China and one who lives in the U.S. claimed Friday in Tennessee federal court that a state law prohibiting residents of countries subject to national security regulations from owning agricultural land is unconstitutional.
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November 01, 2024
Gibson Dunn Works On Flatiron Building's Financing
Real estate developer and owner The Brodsky Organization borrowed more than $406 million worth of mortgage loans from Tyko Capital for the Flatiron Building in Manhattan, New York, in a set of deals worked on by Gibson Dunn & Crutcher LLP, according to official property records released Friday.
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October 31, 2024
Judge Suggests Condo Builder's $19M Jury Win Should Stand
A Washington appeals court judge asked Thursday why a $19 million trial verdict in favor of Skanska USA Building Inc. should be overturned, saying determining the facts in the condo project construction dispute that led to the verdict seemed like something for the jury to answer.
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October 31, 2024
Chicago Cubs To Boost Wheelchair Access To End DOJ Probe
The Chicago Cubs and the U.S. government told an Illinois federal judge Thursday they have entered into a consent decree that will bring more accessible seating to Wrigley Field, ending litigation over claims that the ball field's $575 million renovation gave the worst seats to wheelchair users.
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October 31, 2024
Public Storage Tells Investors That Business Is Steady In Q3
Public Storage, a real estate investment trust that focuses on self-storage properties, told investors during a quarter-three 2024 earnings call that its business has stabilized compared to the previous quarter.
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October 31, 2024
Rep, Warranties Coverage Rates 'Unsustainable,' Report Says
A recent report issued by a major representation and warranties insurance underwriter warned that recent average market prices for the coverage were "unsustainably low," highlighting how the relatively new insurance product was rapidly changing amid broader economic trends.
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October 31, 2024
Aby Rosen Loses Control Of Chrysler Building
A Manhattan judge ordered an affiliate of real estate tycoon Aby Rosen, R&S Chrysler LLC, on Wednesday to stop interfering with efforts of the Chrysler Building's landlord, Cooper Union, to collect rents and manage the property, while the two fight over ultimate control of the iconic building.
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October 31, 2024
Nixon Peabody Lands Norton Rose Real Estate Pros In LA
Nixon Peabody LLP took another step this week to strengthen its affordable housing and real estate practice on the West Coast and beyond, bringing on a pair of real estate attorneys from Norton Rose Fulbright with six years of experience working together.
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October 31, 2024
Hecker Fink Expands Empire State Building Office Space
Hecker Fink LLP signed a new full-floor lease with the Empire State Building's real estate investment trust that will grow the firm's office space in the building by 26,782 square feet, the REIT has announced.
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October 31, 2024
The 2024 Law360 Pulse Leaderboard
Check out the Law360 Pulse Leaderboard to see which firms made the list of leaders in all-around excellence this year.
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October 31, 2024
Firms' Hiring Strategies Are Evolving In Fight For Top Spot
Competition for top talent among elite law firms shows no signs of slowing down, even amid economic uncertainty, with financially strong firms deploying aggressive strategies to attract and retain skilled professionals to solidify their market position.
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October 31, 2024
Blank Rome Adds Commercial Real Estate Expert In DC
The former president and general counsel of Edge Funds Management LLC has joined Blank Rome LLP as an of counsel in the real estate group.
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October 30, 2024
9th Circ. Says Calif. City Can't Sue State Over Housing Laws
The Ninth Circuit refused to revive the city of Huntington Beach, California's challenge to Golden State laws requiring it to build a certain number of housing units to keep up with population growth, writing in an order Wednesday that the city lacked standing to sue the state in federal court.
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October 30, 2024
Essex Warns Calif. Rent Control Prop Will Hurt Resi Supply
Essex Property Trust executives voiced concerns Wednesday that a California ballot measure that would give cities free rein to impose rent control would "dramatically restrict" residential construction.
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October 30, 2024
Conn's Seeks Hearing Next Week On Ch. 11 Asset Sale
Counsel for retail chain Conn's told a Texas bankruptcy judge Wednesday that no one has beaten the $360 million baseline bid for its assets from debt collector Jefferson Capital Systems and asked for a hearing to approve the sale next week.
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October 30, 2024
Real Estate Dealmakers Rush To Close, Others Await Election
Attorneys advising on real estate deals and real estate companies working on mergers and acquisitions and capital markets say some dealmakers are rushing to close, while others are holding off until after the election.
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October 30, 2024
Rudolph And Sletten Wins $1B Calif. Healthcare Campus Bid
Rudolph and Sletten, an affiliate of construction company Tutor Perini Corp., said it has won a $1 billion contract to build a healthcare campus in California.
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October 30, 2024
Polsinelli Continues Philly Growth With 2nd Oct. Hire
Polsinelli PC grew its recently opened Philadelphia office with the addition of a real estate attorney who returns to private practice after providing in-house counsel for a commercial real estate subsidiary of Blackstone.
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October 30, 2024
How The Election Could Shift Enviro Real Estate Practices
At the end of a transformative presidential term for environmental real estate issues spanning from the group of chemicals known as PFAS, to clean energy, to flood mapping, real estate attorneys are poised for potentially major disruption when a new U.S. president takes office in January.
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October 30, 2024
NY Construction Exec Avoids Jail For Commercial Bribery
A construction executive dodged jail time Wednesday after pleading guilty in New York state court to his role in a sprawling bribery scheme involving $100 million in contracts linked to New York high-rise buildings.
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October 30, 2024
Jones Day Hires Real Estate Partner For Chicago Office
Jones Day announced Tuesday that it hired an experienced transactional real estate attorney as a partner for its real estate and energy transition and infrastructure teams based in Chicago.
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October 30, 2024
CareTrust JV Buys Tenn. Skilled Nursing Portfolio For $500M
CareTrust REIT Inc. said it formed a joint venture that has agreed to buy a portfolio of 31 skilled nursing facilities mostly located in Tennessee for $500 million.
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October 30, 2024
Walker & Dunlop CEO Says GSEs Must 'Get Back To Business'
Government-sponsored enterprises Fannie Mae and Freddie Mac need to get out of conservatorship and regain for-profit motivations so they can innovate and grow, Walker & Dunlop CEO Willy Walker told Law360 Real Estate Authority in an interview.
Expert Analysis
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Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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It's Time To Defuse The Ticking Time Bomb Of US Landfills
After recent fires at landfills in Alabama and California sent toxic fumes into surrounding communities, it is clear that existing penalties for landfill mismanagement are insufficient — so policymakers must enact major changes to the way we dispose of solid waste, says Vineet Dubey at Custodio & Dubey.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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Ohio Tax Talk: The Legislative Push For Property Tax Relief
As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
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Tips For Advising CRE Owners Affected By Houston Storms
As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.
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Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.
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How Real Estate Cos. Can Protect Their IP In The Metaverse
The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.
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Ga. Law Creates Challenges For Foreign Ownership Of Land
Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.
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Questions Remain After Mass. Adverse Possession Case
A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.
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4 Takeaways From Biden's Crypto Mining Divestment Order
A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.
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Insurer Quota-Sharing Lessons From $112M Bad Faith Verdict
In Indiana GRQ v. American Guarantee and Liability Insurance, an Indiana federal jury recently issued a landmark $112 million bad faith verdict, illustrating why insurers must understand the interplay between bad faith law and quota-sharing before entering into these relatively new arrangements, say Jason Reichlyn and Christopher Sakauye at Dykema.
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Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.
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A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.