Commercial

  • May 06, 2024

    US Industrial Market Facing High Vacancy Rate, Report Says

    In 2024's first quarter, the U.S. industrial real estate market faced an imbalance of supply and demand for the eighth consecutive quarter, along with a high vacancy rate, even as leasing activity grew 2.2% compared to 2023's first quarter, according to a CBRE report released Monday.

  • May 06, 2024

    Colo. Lawmakers OK Land Cleanup Tax Credit Extension

    Colorado would extend its income tax credit for certain costs of environmental remediation of contaminated property for five years under legislation approved unanimously Monday by the state Senate and sent to the governor.

  • May 06, 2024

    Latham & Watkins, Simpson Thacher Steer Healthcare JV

    Healthcare Realty Trust Inc. and KKR announced on Monday that the two have entered a joint venture to own and invest in quality medical outpatient buildings, in a deal guided by Latham & Watkins LLP and Simpson Thacher & Barlett LLP.

  • May 06, 2024

    British National Admits To Coworking Business Ponzi Scheme

    A British citizen pled guilty Friday in Manhattan federal court to participating in a scheme to solicit investments using fraudulent misrepresentations about a coworking company where he was a principal.

  • May 06, 2024

    NYC Real Estate Week In Review

    Day Pitney landed work on the largest New York City real estate transaction that hit public records last week, a period that saw several large residential condo-unit deals become public.

  • May 06, 2024

    PE Firm Plans To Raise Up To $600M For Real Estate AI Tools

    Reborn Developments intends to raise $100 million to $600 million over the next year to support its Rekaliber project, which aims to create artificial intelligence tools for real estate professionals and real estate institutions, the private equity firm has announced.

  • May 03, 2024

    Florida Court Revives County's Suit Over Fairgrounds Deal

    A Florida appeals court on Friday revived Hernando County's lawsuit against a local county fair association over a broken contract to redevelop a county fairgrounds property, ruling that it is not clear the lawsuit is time-barred.

  • May 03, 2024

    'Reckless' NY Developer Owes Investor $3M+, Suit Says

    A real estate investor is owed at least $3 million tied to its stake in a commercial development project in Shelton, Connecticut, according to a lawsuit in state court that accuses a Brooklyn-based developer of misusing money.

  • May 03, 2024

    Investors Claim Data Center REIT Manipulated Financials

    A proposed class of Equinix Inc. shareholders has accused the data-center-focused real estate investment trust in California federal court of artificially inflating its financial metrics.

  • May 03, 2024

    AI Drives Record-Breaking Leasing For Digital Realty

    A rising demand for data centers, partly stemming from advances in artificial intelligence technology, helped Digital Realty Trust see record leasing numbers in the first quarter of 2024, executives said during a May 2 earnings call.

  • May 03, 2024

    IRS Expects Updates To Hydrogen Credit Emissions Model

    The Internal Revenue Service expects the U.S. Department of Energy to update a model used to determine eligibility for the new clean hydrogen production tax credit under recently proposed rules, an IRS attorney said Friday.

  • May 03, 2024

    Alterra Raises $925M For Industrial Outdoor Storage Fund

    Alterra Property Group announced that it raised nearly $1 billion for a fund that will invest in industrial outdoor storage assets, around $200 million more than the company had set out to raise.

  • May 03, 2024

    Sullivan & Worcester Finds A New Manhattan Home

    Sullivan & Worcester has announced that it has relocated its New York office, its second largest, signing a seven-year lease with a 54-story office tower just a short walk from its previous space.

  • May 03, 2024

    Brothers Accuse Cos. Of Mishandling $1.1M EB-5 Investments

    Two brothers from India sued companies behind a combination residential-resort project they invested in under the EB-5 investor visa program, telling a Florida federal court that their green card petitions were denied because the companies mishandled their $1.1 million investment.

  • May 03, 2024

    Akerman Hires Miami-Dade Atty As Chair Of Land Use Team

    Akerman LLP hired Dennis A. Kerbel, a veteran Miami-Dade County, Florida, government attorney, as the new chair of its land use and entitlements team in its Miami office, the firm announced.

  • May 03, 2024

    Debevoise, Davis Polk Guide Windstream, Uniti Merger

    Uniti Group Inc., advised by Davis Polk & Wardwell LLP, on Friday unveiled plans to merge with Debevoise & Plimpton LLP-led telephone service company Windstream Holdings II LLC in a deal that includes a $425 million cash component, $575 million in preferred equity and a minority share in common equity of the combined company.

  • May 03, 2024

    Terreno Realty Buys $364.5M Industrial Portfolio

    San Francisco-based Terreno Realty Corp. said Friday that it has purchased a portfolio of industrial properties in New York City, northern New Jersey, the San Francisco Bay Area and Los Angeles for $364.5 million.

  • May 02, 2024

    Over $2.6B In Dirty Money Hidden In Commercial Real Estate

    The U.S. has seen at least $2.6 billion of commercial properties used in known money laundering cases over the last two decades, a figure that is likely below the reality and demonstrative of gaps that may exist in federal financial crimes policy, according to a report.

  • May 02, 2024

    Host Hotels Pays $530M To Buy 2 Tenn. Hotels

    Hospitality-focused real estate investment trust Host Hotels & Resorts Inc. told investors that it purchased a two-hotel Nashville, Tennessee, complex for $530 million in cash.

  • May 02, 2024

    Las Vegas A Bright Spot In A Bleak Quarter, Per VICI

    Real estate investment trusts across the board underperformed the broader market in the first quarter of 2021, and VICI Properties Inc. was no exception, executives said May 2, while noting gaming assets in Las Vegas proved to be an exception.

  • May 02, 2024

    Activist Files New Proxy Fight In REIT Takeover Attempt

    Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.

  • May 02, 2024

    Kushner-Owned Co. Owes $15M For Scrapped Apartment Deal

    A New Jersey appeals panel has ordered a company owned by Kushner Cos. LLC to pay $15 million to real estate sellers in a $186 million deal that fell apart during the COVID-19 pandemic.

  • May 02, 2024

    REIT Closes $132M Sale Of 3 Office Properties

    Net Lease Office Properties has sold three office buildings separately located in Illinois, Tennessee and Norway for $131.6 million in total in March and April, the real estate investment trust announced May 2.

  • May 02, 2024

    Simpson Thacher Adds Real Estate Partner In NY

    Simpson Thacher & Bartlett LLP said on May 2 that it has hired Aron M. Zuckerman, an attorney with experience advising lenders in financing real estate projects, as a partner in its New York office.

  • May 02, 2024

    DLA Piper Investment Funds Leader Joins Willkie In Chicago

    Willkie Farr & Gallagher LLP has announced that the former co-head of DLA Piper's investment funds practice joined the firm's asset management group as a partner in its Chicago office. 

Expert Analysis

  • Do Videoconferences Establish Jurisdiction With Defendants?

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    What it means to have minimum contacts in a foreign jurisdiction is changing as people become more accustomed to meeting via video, and defendants’ participation in videoconferencing may be used as a sword or a shield in courts’ personal jurisdiction analysis, says Patrick Hickey at Moye White.

  • Humanism Should Replace Formalism In The Courts

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    The worrying tendency for judges to say "it's just the law talking, not me" in American decision writing has coincided with an historic decline in respect for the courts, but this trend can be reversed if courts develop understandable legal standards and justify them in human terms, says Connecticut Superior Court Judge Thomas Moukawsher.

  • 20 Years On, Campbell Holds Lessons On Reining In Ratios

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    Twenty years ago, the U.S. Supreme Court's decision in State Farm v. Campbell provided critical guidance on the constitutionally permissible ratio of punitive to compensatory damages — and both Campbell and subsequent federal circuit court decisions informed by it offer important pointers for defendants, say attorneys at Dechert.

  • How Bank Turmoil Is Affecting Real Estate Purchases, Sales

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    The new uncertainty in the availability of financing from bank lenders that were previously considered "money good," spurred by the bank crisis, has inserted a wrinkle in the commercial real estate market that alters some of the dynamics between a buyer and seller, says Simran Bindra at Thompson Coburn.

  • Don't Let Client Demands Erode Law Firm Autonomy

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    As clients increasingly impose requirements for attorney hiring and retention related to diversity and secondment, law firms must remember their ethical duties, as well as broader issues of lawyer development, culture and firm integrity, to maintain their independence while meaningfully responding to social changes, says Deborah Winokur at Cozen O'Connor.

  • How CMS Proposal Would Change PE Deal Transparency

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    The Centers for Medicare and Medicaid Services recently proposed a new rule that would require the disclosure of additional ownership regarding Medicare and Medicaid nursing facilities, an approach that many states have started to take and reflects the Biden administration's scrutiny on private equity deals, say attorneys at Kirkland.

  • How Cannabis Cos. Can Comply With NJ Industrial Site Law

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    As New Jersey’s recreational cannabis market flourishes, manufacturers that may be subject to a state environmental law must take extra precautions to mitigate potential liabilities and costs, including for historical contamination, says Matthew Karmel at Offit Kurman.

  • IRS' Cost Method Update Is Favorable For RE Developers

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    The Internal Revenue Service's recent update to its alternative cost method will allow real estate developers to accelerate their cost recovery of improvements in certain circumstances and make it easier for practitioners to satisfy the method's tax compliance requirements, says Benjamin Oklan at Weil.

  • Federal Judge's Amici Invitation Is A Good Idea, With Caveats

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    An Arkansas federal judge’s recent order — inviting amicus briefs in every civil case before him — has merit, but its implementation may raise practical questions about the role of junior attorneys, economic considerations and other issues, says Lawrence Ebner at the Atlantic Legal Foundation.

  • Commercial Landlords Should Approach Self-Help Carefully

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    Although on the surface lease provisions give landlords the right to recover possession of leased premises when a commercial tenant falls behind on rent, blind reliance on such language can lead to trouble and self-help should be exercised with great caution, says Knox Withers at Arnall Golden.

  • Fox Ex-Producer Case Is A Lesson In Joint Representation

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    A former Fox News producer's allegations that the network's lawyers pressured her to give misleading testimony in Fox's defamation battle with Dominion Voting Systems should remind lawyers representing a nonparty witness that the rules of joint representation apply, says Jared Marx at HWG.

  • As The Metaverse Expands, Bankruptcy Questions Arise

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    Restructuring and bankruptcy happen in the metaverse, too — and the uncertain and evolving rules of digital ownership could have surprising effects on who gets paid, with increasing tension between platforms and users, say Kizzy Jarashow and James Lathrop at Goodwin.

  • Stanford Law Protest Highlights Rise Of Incivility In Discourse

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    The recent Stanford Law School incident, where students disrupted a speech by U.S. Circuit Judge Kyle Duncan, should be a reminder to teach law students how to be effective advocates without endangering physical and mental health, says Nancy Rapoport at the University of Nevada.