Commercial
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February 24, 2025
Seyfarth Hires Veteran Bankruptcy Atty For Chicago Office
Seyfarth Shaw LLP hired a veteran bankruptcy and commercial litigation attorney as a partner for the restructuring and insolvency team in its Chicago office, the firm has announced.
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February 24, 2025
Microsoft Has Scrapped Data Center Leases, Analysts Say
Microsoft has canceled leases with at least two private data center operators in the U.S., pointing to a "potential oversupply position" for the company's use of digital infrastructure facilities geared to meet workloads for artificial intelligence computing, according to an analyst note.
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February 24, 2025
Insurer Sues Valve Co. To Recoup Payout To Ohio School
The "catastrophic" flooding of a Cincinnati school was due to a faulty water stop valve, according to a federal lawsuit filed Monday by an insurance provider that seeks to hold building products manufacturer Masco Corp. and its plumbing subsidiary liable for the nearly $225,000 in damages.
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February 24, 2025
CIM Group Lends $57.5M To Refi Houston Industrial Portfolio
Real estate firm CIM Group on Monday said it has closed on a $57.5 million loan to Creation Equity and PGIM Real Estate to refinance a four-building portfolio complex in northwest Houston completed in May 2024.
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February 24, 2025
Holland & Hart Bolsters Real Estate Practice In Denver
Holland & Hart LLP said it has added real estate attorney Heather Park Meek as a partner in its Denver office.
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February 24, 2025
Apple To Invest $500B In US Over 4 Years As Tariffs Mount
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for its products, and threatened tariffs on semiconductors.
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February 24, 2025
Blackstone Paying $5.65B For US Marina Servicing Giant
Blackstone has agreed to acquire Dallas-based Safe Harbor Marinas, the largest marina and superyacht servicing business in the U.S., from Sun Communities Inc. for $5.65 billion, the companies said Monday.
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February 24, 2025
Penn National Settles NC Hurricanes Coverage Suit
Penn National Mutual Casualty Insurance Co. settled a property owner's insurance payout suit filed in North Carolina federal court just before the suit headed to trial.
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February 24, 2025
NYC Real Estate Week In Review
DLA Piper and Lippes Mathias are among the law firms that scored work on the largest New York City real estate deals that hit public records last week, a group of transactions that included a nine-figure Manhattan commercial deal and multiple hotel trades.
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February 24, 2025
Mass. City Says Ex-Team Owners Reneged On Stadium Fees
The city of Brockton, Massachusetts, claims in a lawsuit filed in state court that the former owners of a minor league baseball team owe the economically struggling community more than $68,000 for the use of a city-owned stadium for games and a concert last year.
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February 24, 2025
Minn. Tax Court Boosts Parking Lot Value, Citing Own Error
The Minnesota Tax Court boosted its previous valuation of a Minneapolis parking lot, agreeing with a county assessor that it erred when it allowed a downward adjustment to its previous finding.
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February 24, 2025
Yellow Corp. Gets OK To Sell More Terminals For $15.1M
A Delaware bankruptcy judge has signed off on Yellow Corp.'s $15.1 million sale of trucking terminals and other property to three buyers, as the defunct trucking company looks to add to the more than $2 billion it has already brought in from asset sales in Chapter 11.
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February 24, 2025
Justices Turn Away Challenge To Philly Gun Shop Ban
The U.S. Supreme Court said Monday it won't take up a Philadelphia gun range's challenge to a city rule banning gun shops in residential neighborhoods, after a Pennsylvania appellate court said in 2024 that the Second Amendment didn't cover zoning rules restricting where firearms could be sold.
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February 21, 2025
Appeals Court Says No Contract Dooms Ranch Sale Challenge
A Texas appeals court found no grounds to revive most of the rejected claims a land brokerage lodged against the owners of a 1,200-acre ranch and their real estate and escrow agents after its attempt to buy the property fell through.
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February 21, 2025
Property Plays: GSA, United Center, Coney Island
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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February 21, 2025
Md. Senate OKs Tax Break For Service Station Conversions
Certain retail service stations in Maryland converted to other uses would be eligible for local property tax breaks under legislation approved by the state Senate and sent to the House.
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February 21, 2025
VICI Bets On Immersive Real Estate
VICI Properties Inc., a real estate investment trust mostly known for its iconic Las Vegas casinos, emphasized in a call with analysts its bets on experiential real estate, which aims to create immersive experiences beyond slot machines.
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February 21, 2025
Polsinelli Adds Veteran Real Estate Atty To Boston Office
Polsinelli PC has hired a veteran real estate transactions attorney with more than two decades of experience as a shareholder for the real estate team in its Boston office, which makes her the firm's seventh real estate shareholder hire in the past 12 months.
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February 21, 2025
Lewis Brisbois Launches Corporate Landlord Practice
Lewis Brisbois Bisgaard & Smith LLP has announced the launch of a new corporate landlord practice, with two partners from Atlanta and Houston serving as co-chairs.
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February 21, 2025
Latham Advises Cain On Taking $300M One Beverly Hills Loan
Latham & Watkins LLP advised Cain International in accepting a $300 million loan from VICI Properties Inc. and Eldridge Industries on its $5.2 billion ultra-luxury urban resort, One Beverly Hills.
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February 21, 2025
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover Gaming's assets, and Barings acquires Artemis Real Estate Partners.
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February 20, 2025
Tribes Fail To Win Reversal Of Ore. Casino Project Decision
A D.C. federal judge has denied a bid by three tribes to reverse an Interior Department decision approving a land trust application for another tribe in what is Oregon's first off-reservation casino, ruling that they've failed to show how the project would harm them.
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February 20, 2025
NFIP Flood Claim Borrowing Raises Viability Concerns
FEMA's recent announcement that it was borrowing $2 billion from the U.S. Treasury to pay National Flood Insurance Program claims related to Hurricanes Helene and Milton emphasizes the insurance program's need for reform amidst threats of agency cuts under the Trump administration, experts say.
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February 20, 2025
CRE Brokers Ride 'Park Avenue Phenomenon' In Q4 Results
Commercial real estate's big brokers reported a flush of capital markets activity in the fourth quarter, with one executive crediting Park Avenue for a normalization in leasing that the brokers expect to continue in the year ahead.
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February 20, 2025
Chicago Lawmakers Give Final OK For $7B Mixed-Use Project
Chicago lawmakers reportedly gave the final green light for a $7 billion mixed-use development project headed by the DLA Piper-guided owners of the city's United Center stadium.
Expert Analysis
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Criminal Enforcement Considerations For Gov't Contractors
Government contractors increasingly exposed to criminal liability risks should establish programs that enable detection and remediation of employee misconduct, consider voluntary disclosure, and be aware of the potentially disastrous consequences of failing to make a mandatory disclosure where the government concludes it was required, say attorneys at Crowell & Moring.
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The Often Overlooked NY Foreclosure Notice Requirements
As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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A Case Study For Calif. Cities In Water Utility Takeovers
With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.
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Lower Courts May Finally Be Getting The Memo After Ciminelli
A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.
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A Framework For Investigating Commercial Loan Fraud
As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.
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Yellow Corp. Lease Assumption Shows Landlord Protections
Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
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The Clock Is Ticking For Fla. Construction Defect Claims
Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.
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It's Time To Defuse The Ticking Time Bomb Of US Landfills
After recent fires at landfills in Alabama and California sent toxic fumes into surrounding communities, it is clear that existing penalties for landfill mismanagement are insufficient — so policymakers must enact major changes to the way we dispose of solid waste, says Vineet Dubey at Custodio & Dubey.
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Ohio Tax Talk: The Legislative Push For Property Tax Relief
As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
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Tips For Advising CRE Owners Affected By Houston Storms
As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.
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How Real Estate Cos. Can Protect Their IP In The Metaverse
The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.
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Ga. Law Creates Challenges For Foreign Ownership Of Land
Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.