Commercial

  • February 19, 2025

    Equinix Shareholder Claims Its Board Manipulated Financials

    An Equinix Inc. shareholder lodged a derivative shareholder suit accusing the data center-focused real estate investment trust's executives of manipulating financials to dupe investors, marking the latest legal challenge to arise since an investment research firm first made the claim last year.

  • February 19, 2025

    Olshan-Led Investor Picks Proxy Fight With Healthcare REIT

    Land & Buildings Investment Management LLC, guided by Olshan Frome Wolosky LLP, said it nominated two candidates to National Health Investors Inc.'s board of directors on Wednesday, arguing that conflicts of interest plague the real estate investment trust's leadership team.

  • February 19, 2025

    McDermott Commercial Real Estate Attorneys Join Cleary

    Cleary Gottlieb Steen & Hamilton LLP announced Wednesday that the former co-head of McDermott Will & Emery's U.S. real estate practice group and two team members have joined Cleary's real estate group.

  • February 19, 2025

    Landlords, Judiciary Brace For Federal Leasing Slimdown

    As the General Services Administration pores over the federal real estate portfolio, lenders, landlords and institutional investors are scrambling to understand their exposure to federal leases, while the potential canceling of judiciary office leases is setting up a showdown between branches of government.

  • February 19, 2025

    Adams, DOJ Quizzed On Dismissal Bid By Wary Judge

    A Manhattan federal judge on Wednesday scrutinized the U.S. Department of Justice's motion to dismiss corruption charges against New York City Mayor Eric Adams, rankling attorneys on both sides as he declined to "shoot from the hip" and immediately rule.

  • February 19, 2025

    La. Court Orders New Trial In Museum's Hotel Tax Break Case

    A Louisiana board that allowed a property tax exemption for a hotel operated by the nonprofit National World War II Museum should have held a new trial after evidence surfaced that the hotel was more profitable than previously disclosed, a state appeals court ruled.

  • February 19, 2025

    Newmark CLO To Lead Boards As Lutnick Takes Cabinet Post

    Newmark Group Inc., a commercial real estate adviser, and BGC Group Inc., a brokerage and financial technology company, said Wednesday they had named Chief Legal Officer Stephen Merkel to replace his longtime friend and boss, Howard Lutnick, as chair of both companies' board of directors following Lutnick's confirmation as Secretary of Commerce.

  • February 19, 2025

    Real Estate Group Of The Year: Wachtell

    Wachtell Lipton Rosen & Katz's real estate team guided major deals, representing Spirit Realty Capital Inc. in its $9.3 billion, all-stock acquisition by Realty Income Corp., and Public Storage's $2.2 billion acquisition of Simply Self Storage, earning it a spot as one of the 2024 Law360 Real Estate Groups of the Year.

  • February 19, 2025

    Construction Group Of The Year: Seyfarth

    Seyfarth Shaw LLP's construction attorneys advised a massive transit project valued at nearly $2 billion that the firm said will be the centerpiece of the Miami skyline when completed. That and other recent work have earned the team a spot among the 2024 Law360 Construction Groups of the Year.

  • February 19, 2025

    Ill. Dept. OKs Quantum Computing Building Tax Credit Regs

    Illinois individual and corporate taxpayers may claim income tax credits for a portion of wages paid to workers employed in the construction of quantum computing campus facilities, the state Department of Revenue said in adopted regulatory amendments.

  • February 19, 2025

    Power Transformer Manufacturer To Build $102.5M NC Facility

    North Carolina Gov. Josh Stein announced Wednesday that, with assistance from a state grant, a manufacturer of power and distribution transformers will embark on a $102.5 million expansion of a manufacturing facility in the city of Raeford that will add 217 jobs.

  • February 19, 2025

    Prologis Founder To Step Down As CEO After 4 Decades

    Industrial real estate investment trust Prologis announced Wednesday that CEO and co-founder Hamid Moghadam will step down from his position leading the company after more than 40 years.

  • February 19, 2025

    RSM Analyst Sees Growth For Family Offices In Real Estate

    Law360 Real Estate Authority recently caught up with Gene Garcia, a Houston-based principal and real estate senior analyst with RSM US LLP, to discuss the relationship between family offices and real estate and what lies ahead.

  • February 18, 2025

    Trump Exec Order Expands Control Over Independent Agencies

    President Donald Trump signed an executive order Tuesday to limit the autonomy of independent agencies such as the U.S. Securities and Exchange Commission and Federal Communications Commission by requiring them to submit draft regulations for presidential review.

  • February 18, 2025

    Airbnb, Owners Sue New Orleans Over Short-Term Ordinances

    Airbnb and a group of New Orleans property owners have brought a new lawsuit against the city challenging 2023 restrictions on short-term rentals and a set of requirements passed in October mandating that platforms verify that rental hosts are following city rules.

  • February 18, 2025

    Construction Co. Awarded $75M In Colo. Casino Fight

    A Colorado state judge has awarded a Denver construction company $74.6 million in a complicated fight over the quarter-billion-dollar expansion of a casino resort, finding the casino owner was "combative and adversarial" and caused the bulk of the project's delays.

  • February 18, 2025

    Calif. Insurance Chief Asks State Farm To Justify Rate Hikes

    California's insurance commissioner asked State Farm General Insurance Co. to appear for an in-person "informal conference" later this month over its request for emergency rate hikes in the wake of the deadly Los Angeles wildfires in January, saying the insurer has not yet justified the move.

  • February 18, 2025

    NY Broadens Tax Break Guidelines For Development Projects

    New York state broadened guidelines for determining whether some economic development projects may be eligible for property and sales tax exemptions based on the level of a project's on-site child care services under clarifying legislation signed by Democratic Gov. Kathy Hochul.

  • February 18, 2025

    Dechert Advises $1.1B Refi Of Its Own Manhattan HQ Tower

    Dechert LLP guided a $1.1 billion refinancing for 3 Bryant Park, a midtown Manhattan, New York, office tower that the firm claims as its own headquarters, records show. 

  • February 18, 2025

    NYC Real Estate Week In Review

    Cole Schotz and Seyfarth Shaw are among the law firms that picked up work on the largest New York City real estate deals that hit public records last week, with commercial and residential transactions in Manhattan topping the list.

  • February 18, 2025

    Cadwalader Guides $1.5B Refi Of Manhattan MetLife Building

    Cadwalader Wickersham & Taft LLP advised a $1.5 billion refinancing of the Irvine Co.'s MetLife Building in midtown Manhattan.

  • February 18, 2025

    Blackstone Affiliate Lends $189M To Storage Venture

    Real estate financier Blackstone Mortgage Trust Inc. has provided $189 million in financing to Alterra IOS for 49 of its industrial outdoor storage sites that are located in 22 states and take up 235 acres, the industrial real estate platform announced Tuesday.

  • February 18, 2025

    Denver Landlord Says Defunct Moye White Owes Nearly $4M

    A Denver landlord accused defunct law firm Moye White LLP in Colorado state court of owing almost $4 million after the law firm closed down in 2024.

  • February 18, 2025

    Simpson Thacher Guides $4B Asia-Pacific Real Estate Fund

    PAG Real Assets raised $4 billion for the latest installment of a flagship real estate fund guided by Simpson Thacher & Bartlett LLP, with the alternative investment manager noting that the fund will focus on developed Asia-Pacific markets.

  • February 18, 2025

    Adams, Feds Ordered To Explain Dismissal Bid At Hearing

    A Manhattan federal judge demanded details Tuesday and scheduled a hearing after the Justice Department asked to dismiss criminal charges against New York City Mayor Eric Adams, signaling that the court would not rubber-stamp the request following allegations of a corrupt bargain and mass resignations of prosecutors in protest.

Expert Analysis

  • A Deep Dive Into High Court's Permit Fee Ruling

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    David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.

  • What To Consider When Buying RE Promissory Notes

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    In light of recent distress in the real estate market, note purchases — in which an investor buys a promissory note and mortgage rather than actual property — can be a worthwhile alternative to traditional investments, but require careful contemplation of unique risks and strategic considerations, say Douglas Praw and Katelyn DeMartini at Holland & Knight.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • SEC Climate Rules Create Unique Challenges For CRE

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    The U.S. Securities and Exchange Commission's recently adopted final rules concerning climate-related disclosures for public companies are likely to affect even real estate companies that are not publicly traded, since they may be required to provide information to entities that are subject to the rules, says Laura Truesdale at Moore & Van Allen.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.

  • How Retail Tenants Can Avoid Paying Rent Prematurely

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    When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Calif. Ruling Shows Limits Of Exculpatory Lease Clauses

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    A California court's recent decision in Epochal Enterprises v. LF Encinitas Properties, finding a landlord liable for failing to disclose the presence of asbestos on the subject property, underscores the limits of exculpatory clauses' ability to safeguard landlords from liability where known hazards are present, say Fawaz Bham and Javier De Luna at Hunton.

  • Payment Provision Lessons From NJ Construction Ruling

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    A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.