Commercial
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March 18, 2025
DOJ Says Calif. City's Zoning Illegally Favors Secular Use
The U.S. Department of Justice is backing a church in Santa Ana, California, claiming zoning rules violate federal law by favoring secular uses for an office building the congregation agreed to purchase before learning city rules require a permit to hold religious services.
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March 17, 2025
At Distressed Assets Forum, Lenders Say They're Doing OK
Despite recent upticks in distress in commercial real estate and some foreboding statistics, bankers and private lenders speaking at a forum on distressed assets on Monday presented a rather optimistic outlook on being able to survive and even find opportunities in 2025.
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March 17, 2025
NY Tower Owner Buys Out JPMorgan Arm In $420M Deal
Steiner NYC closed a $420 million recapitalization of a Brooklyn multifamily tower and bought out equity partner J.P. Morgan Asset Management, guided by in-house counsel and a Latham & Watkins LLP team.
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March 17, 2025
Hotel REIT Lands $126M To Renovate 12-Property Portfolio
Hospitality-focused lender Access Point Financial provided a $126 million "fully funded loan" to American Hotel Income Properties REIT LP, which will use the funds to "refinance, renovate and upgrade" its 12-property U.S. hotel portfolio, the lender announced Monday.
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March 17, 2025
Brookfield Offloads Steeply Discounted NYC Office For $150M
Brookfield Properties took a significant hit on the sale of a Manhattan office building, with county property records showing Monday that it sold 333 W. 34th St. for $150 million after purchasing the midtown building for $255 million.
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March 17, 2025
Fraud Victims Claim CRE Fintech Firm Skirted Securities Law
A group of investors pointed to a recent fraud case in seeking to claw back more than $1 billion raised by fintech firm CrowdStreet, claiming in a proposed class action filed in Texas federal court that the platform operated outside state and federal financial regulations for a decade.
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March 17, 2025
Paul Hastings Guides Artemis From Founding To Takeover
When Paul Hastings partner Joshua H. Sternoff was initially pitched on repping Debbie Harmon and Penny Pritzker in creating the first women-owned real estate investment business, he thought it was a bet worth taking. About 16 years and several fundraising cycles later, Sternoff and others at Paul Hastings steered Artemis Real Estate Partners through what might be its biggest move yet.
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March 17, 2025
Burr & Forman Vet Sees Bright Spot For Office Amid Clouds
Burr & Forman LLP partner Brad Skidmore talks to Law360 Real Estate Authority about why he expects growth for the office real estate market despite a recent atmosphere of gloom and doom over the sector.
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March 17, 2025
Belkin Burden Hires Tax Exemption, Zoning Experts
Belkin Burden & Goldman LLP announced Monday it has added five new attorneys from Seiden & Schein PC who will form the firm's new tax exemptions and zoning incentives department.
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March 17, 2025
NYC Real Estate Week In Review
DLA Piper and Klestadt Winters are among the law firms that landed work on the top New York City real estate deals to hit public records last week, with a pair of Manhattan trades topping the list.
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March 17, 2025
DC Commercial Property Taxable Values Drop Nearly 8%
Commercial property values in Washington, D.C., dropped 7.87% in their 2025 assessments compared with a year earlier, the district's tax office said.
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March 14, 2025
Judge Hands Landlord Win In Maryland Nurse's Eviction Case
A Maryland federal judge mostly sided with a landlord that was hit with a nurse practitioner's $1 million suit, which alleged that the landlord wrongfully locked her out of her place of business when she wasn't there and evicted her.
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March 14, 2025
Calif. Insurance Chief OKs State Farm Rates Pending Hearing
The California Department of Insurance on Friday provisionally approved State Farm's request for an emergency rate hike following the Los Angeles fires, including a nearly 22% increase for homeowners, saying final approval will be contingent on the insurer justifying its request at a hearing.
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March 14, 2025
Property Plays: Buffalo, Swerdlow Group, 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.
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March 14, 2025
Demand Tightens Florida Land Market In '24, Broker Finds
Large-acreage land transactions and institutional investors drove much of the activity in Florida's land market in 2024, with agricultural land transforming into residential, solar or other development as the state's population grows.
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March 14, 2025
Calif. Tribe Looks To Defend Casino Land Trust Decision
A California tribe at the crux of an Interior Department decision to take 221 acres of trust land for the construction of its casino development wants to intervene in a challenge to the order, saying it and the federal agency have different goals in dismissing the dispute.
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March 14, 2025
Under The Radar: Bankruptcy News You May Have Missed
Avon's international unit asked a bankruptcy judge to extend the window during which only it can propose a Chapter 11 plan, consulting firm Azzur Group Holdings asked the Delaware bankruptcy court to approve its Chapter 11 plan disclosures and allow it to hold a vote, and Philadelphia's University of the Arts proposed selling a property for nearly $7 million. These are some of the bankruptcy stories you may have missed in the last week.
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March 14, 2025
Related Ross Begins Fla. Commercial Office Towers Project
Related Ross has started construction on two Class AA commercial office towers that will take up almost 1 million square feet combined in downtown West Palm Beach, Florida, the developer announced.
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March 14, 2025
3 Firms Rep Franklin BSP Realty Trust's $425M NewPoint Buy
Hogan Lovells, Reed Smith and Paul Weiss guided Franklin BSP Realty Trust's $425 million acquisition of commercial real estate finance company NewPoint Holdings JV LLC, boosting the REIT's multifamily loan offerings.
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March 14, 2025
King & Spalding Real Estate Ace Jumps To Benesch In NY
Benesch Friedlander Coplan & Aronoff LLP has added commercial real estate attorney David Hudson from King & Spalding LLP as part of efforts to expand the firm's New York bench.
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March 14, 2025
Washington Dept. OKs Property Conversion Tax Break Regs
Washington state's Department of Revenue adopted regulations to clarify eligibility requirements for a retail sales and use tax break for the conversion of commercial property to affordable housing authorized by a 2024 law, according to a rulemaking order.
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March 13, 2025
Tampa Bay Rays Halt Plans For New $1.3B MLB Stadium
Major League Baseball's Tampa Bay Rays announced Thursday that it will stop developing a $1.3 billion stadium that's connected to a larger $6.5 billion redevelopment plan for the Historic Gas Plant District in St. Petersburg, Florida.
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March 13, 2025
Ore. Tribes Challenge Utility's Eminent Domain Bid
An Oregon Indigenous community is fighting a bid by Portland General Electric Co. to condemn five acres of public land for the maintenance and operation of its hydroelectric project, arguing that the move is a pretext to eliminate its ceremonial fishing platform at the state's largest waterfalls.
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March 13, 2025
Founder Wants $14.7M In Logistics Developer SPAC Dispute
The founder of a Latin America-based logistics property developer told a Florida federal court that he is owed at least $14.7 million as part of a 2024 special purpose acquisition company merger.
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March 13, 2025
Smith Currie Hires Veteran Construction Atty To Fla. Office
Smith Currie Oles LLP has hired a former Siegfried Rivera construction litigation attorney as partner in the firm's Fort Lauderdale, Florida, office, the firm announced Wednesday.
Expert Analysis
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Reg Waiver Eases Calif. Rebuilding, But Proceed With Care
California Gov. Gavin Newsom's executive order suspending some environmental review and permitting requirements for the reconstruction of homes and businesses damaged by recent wildfires may streamline rebuilding efforts, but will require careful navigation of the evolving regulatory landscape, says Gregory Berlin at Alston & Bird.
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Insurance Considerations For LA Wildfire Recovery
Businesses and homeowners affected by the destructive Southern California wildfires must act swiftly and strategically to navigate the complexities of the insurance recovery process, including by identifying all applicable policies, documenting damage thoroughly and keeping abreast of relevant state law, say attorneys at Morgan Lewis.
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LA Wildfires' Effect On Calif. Insurer Of Last Resort
Attorneys at Willkie discuss the background of California's insurer of last resort — known as the Fair Access to Insurance Requirements Plan — and examine the process of assessing member insurers and relevant recent property insurance market developments in light of the destruction from the ongoing Los Angeles wildfires.
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Public Corruption Enforcement In 2024 Has Clues For 2025
If 2024 activity is any indication, the U.S. Supreme Court will likely continue to rein in expansive prosecutorial theories of fraud in the year to come, but it’s harder to predict what the new administration will mean for public corruption prosecutions in 2025, says Cathy Fleming at Offit Kurman.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Timeline Considerations For Boston's New RE Review Process
Boston's newly reimagined large real estate project review process, featuring early community engagement, holds impacts for project timelines that land use counsel must account for when guiding developers through approvals, says David Linhart at Goulston & Storrs.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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How Landlords Can Navigate Cannabis-Related Leases
As the cannabis industry continues to rapidly grow, landlords should consider a variety of lease terms and operational details that may help mitigate uncertainty involving federal laws, zoning restrictions and tax implications, says Kyla Baker at Holland & Knight.