Commercial

  • March 06, 2025

    Feds Say 11th Circ. Should Affirm Value Of Ex-Braves' Farm

    Despite dropping a bid for civil fraud penalties this week against two former Atlanta Braves players accused of overvaluing a conservation easement donation, the federal government has told the Eleventh Circuit it still stands by a U.S. Tax Court ruling that the players' valuation of the property was "firmly planted in the realm of fantasy."

  • March 06, 2025

    Kirkland & Ellis Guides $645M NYC Office Refi

    An entity connected to Milstein Properties Corp. borrowed more than $644 million from JPMorgan Chase Bank NA, in a deal advised by Kirkland & Ellis LLP for the refinancing of a midtown Manhattan office building near Grand Central Station, according to official property records.

  • March 06, 2025

    Kroenke Seeks Denver Special District For Ball Arena Plan

    Billionaire Stan Kroenke has filed petitions in state court to establish a special district as part of a plan to develop 64 acres of parking lots near Denver's Ball Arena into a $685 million development that would aim to build a new downtown neighborhood through 2050.

  • March 06, 2025

    NJ Developer, Conn. Atty Settle Suit Over Alleged $1.4M Scam

    A New Jersey real estate developer and Connecticut attorney Carole W. Briggs have settled a federal lawsuit that accused the lawyer and an associate of pulling off a business email compromise scam that caused more than $1.4 million in losses, court records show.

  • March 06, 2025

    Insurance Mogul Can Pursue $8.2M Battle Over NC Office Park

    Convicted insurance mogul Greg Lindberg and his company Global Growth Holdings Inc. will have another shot at counterclaims in an unpaid rent lawsuit against another company once owned by Lindberg, a North Carolina state appeals court ruled Wednesday.

  • March 06, 2025

    Pot Co. Sues Mich. City Over 'Unlawful' Licensing Decision

    A would-be dispensary sued the city of Auburn Hills, Michigan, in federal court on Thursday, alleging that the city disregarded its own voter-approved adult-use licensing ordinance when it approved four licenses last year.

  • March 06, 2025

    Everton Football Club Lands £350M In Stadium Financing

    Business conglomerate The Friedkin Group completed a £350 million ($451 million) deal that will refinance what was borrowed to complete its 52,888-seat stadium for its Everton Football Club in Liverpool, United Kingdom, the team announced Thursday.

  • March 06, 2025

    NJ Atty Seeks Exit From Developer Suit Over Escrow Cashout

    A New Jersey attorney who served as agent on an escrow agreement asked to escape a developer's lawsuit that came after a venture capital firm failed to produce a $6 million loan to build a luxury hotel in Taos, New Mexico.

  • March 06, 2025

    IRS Can't Defend Slashing Of Easement Value, 11th Circ. Told

    Conservation easement donors whose charitable tax deduction was reduced by millions of dollars by the U.S. Tax Court criticized the Internal Revenue Service's defense of the decision, telling the Eleventh Circuit the ruling ignored copious evidence of the property's value underlying the donation's worth.

  • March 06, 2025

    New York Real Estate Cos. Seek Ch. 11 Protection

    Two real estate companies facing foreclosure litigation sought bankruptcy protection in New York each listing at least $10 million in debt.

  • March 05, 2025

    Diamondhead Casino Creditors Say Ch. 7 Is Only Path

    A group of creditors that forced casino developer Diamondhead Casino into a Delaware Chapter 7 case said in a post-trial brief the proceeding should stay in place because it is the best chance for all creditors to receive recoveries on their claims against the debtor, which has been unable to monetize its assets for years.

  • March 05, 2025

    GSA No-Shows As Lawmakers Question Real Estate Cuts

    An official at the General Services Administration, which said this week it will sell more than 440 "non-core" assets, didn't show up to answer to lawmakers during a hearing Wednesday on ongoing cuts to the federal real estate portfolio.

  • March 05, 2025

    GSA Publishes, Then Pulls List Of Properties It Could Dispose

    The U.S. General Services Administration on Wednesday removed a list of 440 properties that it considered inessential and said warranted disposal — including several courthouses and buildings used as headquarters for various agencies — the day after announcing it had identified them as "non-core assets."

  • March 05, 2025

    Judge Says DC Union Station Foreclosure Fight Too Late

    A New York federal judge has cemented the transfer of Washington, D.C.'s Union Station to a South Korean bank, finding the borrower should have raised concerns about the mezzanine lender's foreclosure before an auction was held.

  • March 05, 2025

    Penzance Scoops Up $55M Va. Industrial Portfolio

    Penzance paid $55 million for a 212,086-square-foot Manassas, Virginia, industrial portfolio that has six buildings, the real estate company announced Wednesday.

  • March 05, 2025

    Real Estate Lawyers On The Move

    Greenberg Traurig and Rosenberg & Estis are among the law firms that have made recent real estate or construction hires.

  • March 05, 2025

    Seyfarth Names Real Estate Atty As Co-Lead In San Francisco

    Seyfarth Shaw LLP has named a longtime real estate attorney to be the new co-managing partner of its San Francisco office, the firm announced Wednesday.

  • March 05, 2025

    Simpson Thacher Pilots $2B Utah Data Center Financing

    CIM Group and Novva Data Centers, advised by Simpson Thacher & Bartlett LLP, secured $2 billion in financing with JP Morgan and Starwood Property Trust to finish building a data center campus in a suburb of Salt Lake City, Utah, the companies said Wednesday.

  • March 05, 2025

    Defunct Pittsburgh Law Firm Owes $1.3M In Rent, Suit Says

    The court-appointed receiver for a downtown Pittsburgh office tower says in a lawsuit filed in Pennsylvania state court that the defunct law office of Rothman Gordon PC owes more than $1.3 million in rent and fees.

  • March 05, 2025

    Montana Tasks Tax Agency With Review Of Exempt Property

    Montana directed its Department of Revenue to establish a process to review property that is exempt from taxation under a bill signed by the governor.

  • March 05, 2025

    Developers Lie In Wait For Texas Gambling's Passage

    Casinos and sports betting companies are counting on a revamped lobbying effort to finally bring Texas into play, after two recent legislative pushes failed.

  • March 04, 2025

    Attorneys Shift Gaze To Contracts As Trade Tensions Escalate

    Construction experts are racing to keep up with rapid changes from the White House on tariffs amid what's now becoming a full-fledged trade war, and are working out how best to allocate cost-increase risk in their contracts. Lawyers shared several contract excerpts with Law360 Real Estate Authority.

  • March 04, 2025

    Principal Closes $3.6B Data Center Growth Fund

    Principal Asset Management announced that it has finalized a $3.64 billion data center growth and income fund, which it plans to put toward the development of hyperscale data facilities in the U.S. via a partnership with Stream Data Centers.

  • March 04, 2025

    IRS Drops Push To Penalize Ex-Braves Players For Fraud

    The federal government dropped its push Tuesday to reinstate civil fraud penalties against a partnership founded by former Atlanta Braves players John Smoltz and Ryan Klesko in their Eleventh Circuit appeal of a decision slashing their $47 million deduction for a conservation easement donation.

  • March 04, 2025

    Colo. Justices Won't Review Hospital Tax Classification Suit

    The Colorado Supreme Court declined to review an appeals court ruling finding that a rehabilitation hospital should be classified as a commercial property for tax purposes because it was predominantly designed for its services and not for residency.

Expert Analysis

  • Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream

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    As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.

  • A Legal Perspective On NYC's Retail Real Estate Evolution

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    As New York City's retail market begins to show signs of resilience after the challenges of recent years, landlords must be cognizant of legal implications from shifting trends toward shorter-term leases and pop-up stores, says Andrea Gendel at Pryor Cashman.

  • What Interest Rate Cuts Mean For Housing Markets

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    The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.

  • How CFIUS' Updated Framework Affects Global Investors

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    The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.

  • Foreclosing Lenders Still Floating In Murky Legal Waters In NY

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    The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.

  • NYC Hotel Licensing Law's Costs May Outweigh Its Benefits

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    A hotel licensing bill recently approved by New York's City Council could lead to the loss of many nonunionized hotels that cannot afford to comply, says Stuart Saft at Holland & Knight.

  • Calif. Ruling Offers Hope For Mitigated Negative Declarations

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    In Upland Community First v. City of Upland, a California appeals court upheld a warehouse development's mitigated negative declaration over its greenhouse gas emissions thresholds — a rare victory against this type of challenge providing reassurance that such declarations can be upheld, say attorneys at Sheppard Mullin.

  • There's No Crying In Property Valuation Baseball Arbitration

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    The World Series is the perfect time to consider how the form of arbitration used for settling MLB salary disputes — in which each side offers competing valuations to an arbitrator, who must select one — is often ideal for resolving property valuation disputes, say Sean O’Donnell at Herrick Feinstein and Mark Dunec at FTI Consulting.

  • Webuild Ruling Complicates Arb. Award Enforcement In US

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    A Delaware federal court's recent decision in Sociedad Concesionaria Metropolitana de Salud v. Webuild, if read literally, could undercut the United States' image as a proarbitration jurisdiction by complicating creditors' efforts to enforce awards against property in this country, says Jeff Newton at Omni Bridgeway.

  • How To Avoid A Costly CPA Limitation Hidden In Most Leases

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    The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.

  • Navigating FEMA Grant Program For Slope Fixes After Storms

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    In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.

  • Smith's New Trump Indictment Is Case Study In Superseding

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    Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.

  • Consider Best Legal Practices For Commissioning Public Art

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    Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.