Commercial

  • May 28, 2024

    Goldman Family Battles Over Evidence In Property Biz Suit

    Relatives of Jane Goldman, an heiress of Sol Goldman's New York City property empire, argued that a contract she has said establishes her authority over the family's real estate business is of "dubious origin."

  • May 28, 2024

    Tribe Says Enbridge's Trespass Concern Wasted Court's Time

    A Wisconsin tribe has told the Seventh Circuit that Enbridge Energy wasted the court's time raising concerns that an old tribal trespass ordinance could cost the company millions in fines, saying it has nothing to do with the tribe's attempts to stop the Line 5 pipeline.

  • May 28, 2024

    Apartment Co. Says Insurer Owes Millions For Hail Damage

    The owners of an apartment building blamed an insurer for breaching its contract in Kansas federal court Tuesday, alleging the carrier failed to cover over $13 million in wind, hail and water damages and underestimated the loss despite clear evidence.

  • May 28, 2024

    Jones Day, King & Spalding Rep Blackstone, Bank's $1B Deal

    Blackstone has bought a $1 billion senior mortgage loan portfolio from Deutsche Pfandbriefbank after the German bank revealed plans to offload it, with the all-cash transaction shaped by Jones Day and King & Spalding LLP. 

  • May 28, 2024

    Simpson Thacher Hires US Treasury Alum From Blackstone

    An experienced fund transactions attorney has moved from an in-house role at Blackstone to private practice at Simpson Thacher & Bartlett LLP, the firm said Tuesday.

  • May 28, 2024

    Texas Real Estate Investment Manager Closes $1.6B Fund

    Pennybacker, an Austin, Texas-based investment manager, closed its latest fund for opportunistic investments in real estate at $1.6 billion, exceeding the vehicle's target, according to an announcement Tuesday.

  • May 28, 2024

    Colo. Creates Tax Credits For Agricultural Stewardship

    Colorado farms and ranches that use certain agricultural stewardship practices will be eligible for tax credits of up to $300,000 under legislation signed into law by Gov. Jared Polis.

  • May 24, 2024

    Lender Says Ch. 11 Triggers Payment Obligation for NYC Lofts

    A lender filed suit against Rudy Gabsi, CEO of Israeli investment firm Leny Group, alleging Gabsi is on the hook for $82 million after a borrower tied to the firm thwarted a foreclosure sale involving New York City properties by filing for Chapter 11 bankruptcy protections.

  • May 24, 2024

    NY AG Sues Over Illegal Long Island Wetland Construction

    New York prosecutors on Friday sued to force a contractor to pay nearly $600,000 and restore a Long Island wetland area the company has been using as a storage site after illegally clearing vegetation and building a parking lot more than a decade ago.

  • May 24, 2024

    Cell Tower Operator's Trade Secret Suit Tossed For Now

    A Pennsylvania federal judge has thrown out a cell tower operator's allegations that a rival used its confidential information on pricing from landlords and made misleading statements to buy out tower leases.

  • May 24, 2024

    DC Circ. Says Bainbridge Can't Have Argentina's Building

    The D.C. Circuit on Friday denied an appeal from Bainbridge Fund Ltd. in a property dispute with Argentina, saying the company can't take possession of the property in an effort to satisfy a $95 million judgment over defaulted bonds.

  • May 24, 2024

    Healthcare REIT Nabs $800M Despite Tenant Turbulence

    Medical Properties Trust Inc. announced Friday that the real estate investment trust has secured a £631 million ($804 million) financing from a group of investors led by real estate investment firm Song Capital, in a deal led by Goodwin Procter LLP and Slaughter and May.

  • May 24, 2024

    NYC Apartment Hotel May Qualify For Tax Break, Dept. Says

    A planned 150-unit apartment hotel building in New York City catering to a nearby hospital's patients and staff and to university students could be eligible for an industrial and commercial abatement program, the city Department of Finance said in a letter ruling.

  • May 23, 2024

    Entrepreneur Ordered To Pay $15M For Unlicensed Pot Stores

    A New York state court hit a cannabis seller with a $15 million judgment Thursday after he was found to be selling marijuana without a license at seven locations inside the state, according to an announcement by the state's attorney general.

  • May 23, 2024

    Fla. Broker Can't Collect Fees For $54M Real Estate Deal

    A real estate broker isn't owed a 1% commission on a $53.65 million deal despite introducing the eventual buyer, as the broker was not involved in the final sale, a Florida appeals court ruled.

  • May 23, 2024

    99 Cents Only Gets OK To Sell Stores For $170M In Ch. 11

    Discount retail chain 99 Cents Only on Thursday got the green light of a Delaware bankruptcy judge to sell off 44 lots of its assets for a combined price of $170 million as it moves towards a wind-down.

  • May 23, 2024

    Ill. Justices OK $28M Tax Value Appeal Without Payment

    A power company's property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.

  • May 23, 2024

    JV Inks $48.5M Ft. Lauderdale Shopping Center Buy

    BH Group, PEBB Enterprises and Related Group have snapped up a mixed-use waterfront shopping center in Fort Lauderdale, Florida's Harbordale neighborhood for $48.5 million through a joint venture, with plans to further develop the property.

  • May 23, 2024

    MoFo Guides $100M Refi At Manhattan Office Property

    Morgan Stanley Bank NA and German American Capital Corp. refinanced a $100 million mortgage of the Feil Organization's Look Building, a New York City office building, in a deal guided by Morrison & Foerster LLP.

  • May 23, 2024

    Oakland Coliseum Sold To Black-Led Biz Group For $105M

    The City of Oakland has agreed to sell its share of the Oakland Coliseum to a group of Black community, business and investment leaders for a minimum of $105 million in a deal that the city said will pave the way for affordable housing units, outdoor space and future developments.

  • May 22, 2024

    CBRE Calls Exec's Noncompete Right Fit In A Small World

    A Texas appellate court wondered Wednesday whether a temporary injunction that seemingly bars a former CBRE executive from working in his trade anywhere in the world goes too far, and questioned the validity of the underlying noncompete agreement at the center of the legal battle.

  • May 22, 2024

    Ill. Justices Weigh Zurich's Right To Recover $3M Flood Loss

    The Illinois Supreme Court weighed Wednesday whether Zurich American Insurance Co. can recoup $3 million from a subcontractor for water damage repair costs the insurer paid to a general contractor despite Zurich filing suit on behalf of a different insured.

  • May 22, 2024

    FDIC Eyes 'Weak' Office, Mall Assets In Risk Assessment

    The Federal Deposit Insurance Corp. deemed office and retail mall asset classes 2023's "weak" points among the otherwise resilient commercial real estate property types, in a Wednesday report summarizing risks facing FDIC-insured institutions.

  • May 22, 2024

    Real Estate Firm Buys Manhattan Retail Property For $180M

    TZ Capital scooped up a luxury retail property on Madison Ave. for $180 million — nearly $100 million less than what the building last traded for, per a source familiar with the deal Wednesday — in a move that comes as midtown Manhattan's retail market sees growing deal and leasing activity.

  • May 22, 2024

    Chancery Keeps RedBird-Brookfield Dispute Stay In Place

    A Delaware vice chancellor declined Wednesday to rule from the bench on a preliminary injunction sought by Redbird Capital Partners in a dispute over a Brookfield Infrastructure Partners claim for a $150 million escrow included in its $5.7 billion purchase of RedBird data center projects last year.

Expert Analysis

  • Fla. Banking Brief: All The Notable Compliance Updates In Q2

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    Florida financial institutions must now navigate minimum interest rates for attorney trust accounts, restrictions on property sales to prohibited foreigners, and a ban on weighing environmental, social and governance factors to determine a customer's creditworthiness — changes that will add to banks' compliance pressures, says Patricia Hernandez at Avila Rodriguez.

  • Level Up Lawyers' Business Development With Gamification

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    With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.

  • NY, NJ Regs Give Clarity To Cannabis Investors, Ancillaries

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    Proposed laws and regulations in New York and New Jersey would clarify some previously murky legal waters, thus expanding the ability of investors, lenders and ancillary service providers to work with marijuana business in these states, say David Waxman and Heidi Urness at McGlinchey Stafford.

  • 5 Ways Firms Can Rethink Office Design In A Hybrid World

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    As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.

  • What To Expect From High Court's Whistleblower Case

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    The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will likely have widespread implications for the future of anti-retaliation whistleblower litigation, and could make it more difficult for would-be whistleblower-employees to succeed on anti-retaliation claims under the Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at Sullivan & Cromwell.

  • RICO Ruling Makes US More Attractive Foreign Creditor Forum

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    The U.S. Supreme Court's decision in Yegiazaryan v. Smagin, allowing a foreign plaintiff to use the Racketeer Influenced and Corrupt Organizations Act to enforce a foreign arbitral award, will make judgment creditors more likely to seek out U.S. courts to remedy efforts to frustrate the enforcement of international arbitration awards, say attorneys at Paul Hastings.

  • 5 Strategies For Restructuring Underperforming CRE Loans

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    With commercial real estate industry conditions expected to deteriorate further in the coming months, market participants should consider a number of strategies to help resolve challenged investments, ranging from financial restructurings to project phasing, say attorneys at Ballard Spahr.

  • Ghosting In BigLaw: How To Come Back From Lack Of Feedback

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    Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.

  • Post-Ciminelli Predictions On Right-To-Control Convictions

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    The recent Second Circuit filings in Binday suggest that the government will fight to preserve its right-to-control convictions in the wake of the U.S. Supreme Court's Ciminelli decision, and offer clues about key issues that will drive post-Ciminelli litigation, say attorneys at Debevoise.

  • Steps To Success For Senior Associates

    Excerpt from Practical Guidance
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    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

  • How To Avoid A Zombie Office Building Apocalypse

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    With national office vacancy rates approaching 20%, policymakers, investors and developers will need to come together in order to prevent this troubling trend from sucking the life out of business districts or contaminating the broader real estate market, say Ryan Sommers and Robyn Minter Smyers at Thompson Hine.

  • Legal Profession Must Do More For Lawyers With Disabilities

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    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.

  • Appellate Funding Disclosure: No Mandate Is Right Choice

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    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.