Commercial

  • August 05, 2024

    Simpson Thacher, Eversheds Sutherland Guide $83M Ga. Buy

    Cousins Properties and Town Lane have acquired Proscenium, a 526,000-square-foot office building in Atlanta, for $83 million, a notable discount from its prior 2017 sale, in a deal guided by Simpson Thacher & Bartlett LLP and Eversheds Sutherland.

  • August 05, 2024

    Vornado Closes $350M Partial Sale Of 'Flagship' NYC Office

    Vornado Realty Trust sold off a portion of its "flagship" 666 Fifth Avenue office in Manhattan to Japanese fashion company Uniqlo for $350 million, the real estate investment trust announced Monday.

  • August 05, 2024

    Marriott Says NYC Hotels' Housing Of Migrants Violated Deal

    Marriott International Inc. has accused a hotel company in Jamaica, Queens, of breaching a contract by repurposing two properties for migrant housing while refusing to "de-identify" itself with the global hotel brand.

  • August 05, 2024

    Rimon Brings On BakerHostetler, Wick Philips Litigators

    Rimon PC is expanding its team with the addition of two new litigation partners and an investigations associate, who have worked at BakerHostetler, Wick Phillips Gould & Martin LLP and the San Francisco Department of Police Accountability, the firm has said.

  • August 05, 2024

    Dems Unearth Another Thomas Trip Paid For By Harlan Crow

    U.S. Supreme Court Justice Clarence Thomas took a previously undisclosed trip between Hawaii and New Zealand on a billionaire Republican donor's private jet in 2010, lawmakers revealed in a letter Monday that offered the donor a "final opportunity" to explain how that trip and others don't constitute a tax fraud scheme.

  • August 05, 2024

    Healthcare REIT Provides $303M For Nursing Properties Buy

    CareTrust REIT Inc. extended a $260 million senior mortgage loan and $43 million preferred equity investment for the acquisition of a portfolio of skilled-nursing and senior housing properties, the healthcare real estate investment trust has announced.

  • August 05, 2024

    NYC Real Estate Week In Review

    Breuer Herskowitz and Morici & Morici were among the law firms that handled the largest New York City deals that hit public records last week, with all of the week's deals north of $20 million happening in Manhattan.

  • August 05, 2024

    Andrews Myers Construction Atty Joins Cozen O'Connor

    Cozen O'Connor has hired a construction litigator in California who has more than 14 years of experience representing clients in matters involving infrastructure, industrial and other construction projects, the firm announced Monday.

  • August 05, 2024

    Data Center Co. Secures $3B In Green Financing

    Stack Infrastructure obtained $3 billion in financing for four of its environmentally friendly U.S. data center campus projects, adding to the total of $15 billion in financing for all its projects, the data center developer and operator announced Monday.

  • August 05, 2024

    Latham Helps Woodside Buy Clean Ammonia Biz For $2.4B

    Australian oil and gas giant Woodside Energy will buy OCI NV's low-carbon ammonia facility in Texas for $2.35 billion in cash to help with its transition to cleaner forms of energy, the companies said Monday.

  • August 02, 2024

    NYC Landlord Hits Firm, Atty With $3M Legal Malpractice Suit

    A New York City landlord that rented to online grocery delivery company FreshDirect has filed a $3 million legal malpractice suit against Horing Welikson Rosen & Digrugilliers PC and one of its partners in state court, saying their alleged negligence resulted in a dismissed case against the grocer. 

  • August 02, 2024

    HFZ Capital Cops To $86M Fraud Charges, Blames Ex-Chief

    Defunct real estate firm HFZ Capital Group pled guilty in an $86 million criminal case Friday, admitting that its former top executive Nir Meir evaded New York City property taxes and stole funds from commercial and residential building projects.

  • August 02, 2024

    Colo. Appeals Panel Rejects Lower Tax Rate For Hospital

    A Colorado rehabilitation hospital should be classified as a commercial property for tax purposes because it was predominantly designed for its services and not for residency, a state appeals court said, reversing a state assessment board.

  • August 02, 2024

    Insurers Seek Quick Win In $2M Injury Coverage Suit

    An AmTrust Financial unit and a Hartford unit each told a New York federal court that the other must solely cover a Manhattan property owner in a construction worker's $2 million injury action, disagreeing over whether the owner is an additional insured under the Hartford unit's policy covering a lessee.

  • August 02, 2024

    Ex-Loeb Tax Atty Latest Addition To Kilpatrick's NY Team

    A former Loeb & Loeb LLP attorney is bringing his experience in U.S. federal tax matters and real estate transactions to Kilpatrick Townsend & Stockton LLP, the firm announced Thursday.

  • August 02, 2024

    Land Sale Deals Allowed In Colo. Eminent Domain Dispute

    A Colorado appeals court ruled against the city of Westminster in its eminent domain action, ruling that three comparable sales contracts and an adjacent land parcel's $51.5 million purchase and sale contract can be admitted as evidence in a valuation trial.

  • August 02, 2024

    Property Plays: VICI, Host Hotels, Tampa Bay Rays

    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.

  • August 02, 2024

    Shartsis Friese Adds Real Estate Litigator In San Francisco

    Shartsis Friese LLP has expanded its real estate team, announcing that it has brought in a litigator and bankruptcy expert from SSL Law Firm LLP as a partner in San Francisco.

  • August 01, 2024

    Lewis Brisbois Slams RICO Claims Alleging 'Sham' Suits

    Lewis Brisbois Bisgaard & Smith LLP has urged a California federal judge Tuesday to toss Chinese investors' accusations that its attorneys filed lawsuits to cover their failure to read "draconian" contract terms that led the investors to lose their $92.5 million stake in a $2.5 billion Los Angeles mixed-used development.

  • August 01, 2024

    Host Hotels & Resorts Buys Up NYC Hotel For $265M

    Hospitality-focused real estate investment trust Host Hotels & Resorts Inc. acquired a 234-room New York City hotel for $265 million in an all-cash transaction, the REIT announced on Aug. 1 during an earnings call for 2024's second quarter.

  • August 01, 2024

    Senate Advances Bipartisan Bill To End Hotel 'Junk' Fees

    The U.S. Senate voted to advance a bill out of committee that would crack down on "junk fees," or hidden fees tacked on to hotel or short-term rental bookings, an idea that has drawn bipartisan support.

  • August 01, 2024

    VICI Passes On Caesars Indianapolis Racino

    VICI Properties Inc., a real estate investment trust focused on gaming and resorts real estate, said  Aug. 1 in a call with analysts that it would not pursue a deal to purchase an Indianapolis racino and said it is well-prepared for potential mergers and acquisitions of its casino operators.

  • August 01, 2024

    Bahamas Resort Developer Seeks $1.5B In Builder Fraud Trial

    Counsel for the now-defunct developer of the Bahamian luxury resort Baha Mar opened a bench trial in New York state court Thursday arguing the company lost more than $1.5 billion because of a Chinese state-owned construction firm's "lies, competing agendas and broken promises."

  • August 01, 2024

    Real Estate Lawyers On The Move

    Honigman and Gordon Rees are among the firms that have made recent real estate or construction hires.

  • August 01, 2024

    Office REIT To Liquidate After Facing Investor Pressure

    The president of Equity Commonwealth announced that the company will sell its four remaining office properties and wind down operations, after the real estate investment trust faced multiple calls to liquidate by activist stockholders.

Expert Analysis

  • 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.

  • Yellow Corp. Lease Assumption Shows Landlord Protections

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    Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.

  • How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet

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    A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.

  • The Clock Is Ticking For Fla. Construction Defect Claims

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    Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.

  • Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • Fishing Makes Me A Better Lawyer

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    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.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    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.

  • Ohio Tax Talk: The Legislative Push For Property Tax Relief

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    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.