Commercial

  • August 07, 2024

    Simpson Thacher Pilots Stonepeak's $3B Opportunities Fund

    Private equity firm Stonepeak, advised by Simpson Thacher & Bartlett LLP, raised $3.15 billion for a fund dedicated to opportunistic investing in the infrastructure sector, beating the fund's target by over $600 million, according to an Aug. 6 announcement.

  • August 06, 2024

    Aztec Fund Files For Ch. 11 With $100M In Liabilities

    The Aztec Fund Holding Inc. has filed for Chapter 11 protection in Texas bankruptcy court, listing at least $100 million in liabilities.

  • 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 Aug. 5.

  • 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 Phillips 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

    Home REIT Sells 226 Properties For £26.5M

    Struggling real estate investment trust Home REIT PLC said Friday that it has sold approximately 9% of its portfolio of properties for gross proceeds of £26.5 million ($34 million) to reduce its debts and provide capital for its operations.

  • 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.

Expert Analysis

  • The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • Pickleball Makes Waves In Fla. Real Estate, With Risks In Play

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    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.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    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.

  • What Calif. Pot Permit Ruling Means For Enviro Compliance

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    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.

  • Rare Reg A+ Fines Reflect New Era Of SEC Enforcement

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    The U.S. Securities and Exchange Commission's recent announcement of civil penalties against 10 microcap companies for violations of Regulation A+ shows that as the SEC continues to expand its enforcement efforts, its focus remains on protecting investors of all sizes — including those investing in the historically less-scrutinized Reg A+ issuers, say attorneys at Crowell & Moring.

  • Factors To Consider When Structuring Data Center Contracts

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    Data center leases and service agreements grant very similar rights and impose similar obligations, but they also hold notable differences and a range of factors that are important to consider when selecting which form of agreement to use, say attorneys at Mayer Brown.

  • Rethinking Mich. Slip-And-Fall Defense After Top Court Ruling

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    The Michigan Supreme Court recently overturned three decades of premises liability jurisprudence by ruling that the open and obvious danger defense is no longer part of a traditional duty analysis, posing the question of whether landowners will ever again win on a motion for summary dismissal, say John Stiglich and Meriam Choulagh at Wilson Elser.

  • Subchapter V Eligibility Ruling Raises Uncertainty For Tenants

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    A Virginia bankruptcy court’s recent ruling in Macedon Consulting — that all remaining rent under a lease should be factored into a lessee's Subchapter V eligibility — raises the question, but does not address, how a court should calculate the amount of debt owed under a lease, creating significant risk for potential tenant debtors, says Sam Ashuraey at Ashuraey Law.

  • Parsing Tax Implications Of NYC Office Leasing Transactions

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    Though New York City's tax laws generally do not require negotiated contractual risk allocation in the case of sublease and early lease termination transactions, it is still helpful for counsel to both landlords and tenants to understand the laws' nuances, say attorneys at Lowenstein Sandler.

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • NY's Take On Premises Insurance Policies: What's In A Name?

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    A New York appellate court's recent decision in Wesco Insurance v. Fulmont Mutual Insurance — requiring insurance coverage for a property owner not named on the policy — strengthens a state case law trend creating a practical exception in premises liability cases to normally strict requirements for coverage, says Craig Rokuson at Traub Lieberman.

  • Bankruptcy Ruling Shows Section 363's Magic Has Its Limits

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    The Ninth Circuit Bankruptcy Appellate Panel's recent ruling in Groves demonstrates that Section 363 — which allows a debtor-in-possession to sell their property in order to generate cash — fails as a tool when it’s used to turn a nondebtor entities' property into property of a debtor's bankruptcy estate, says Brian Shaw at Cozen O'Connor.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.