Commercial
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June 06, 2024
Ex-Real Estate Firm GC Joins Federman Steifman As Partner
Federman Steifman LLP hired the former general counsel of real estate investment and development firm SomeraRoad as a partner for its New York City office, the law firm announced.
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June 06, 2024
Bell Nunnally Adds Ex-Munsch Hardt Real Estate Ace In Dallas
Bell Nunnally & Martin LLP has strengthened its real estate practice with a partner in Dallas who came aboard from Munsch Hardt Kopf & Harr PC.
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June 06, 2024
Seyfarth Adds Katten Partner To Charlotte Real Estate Team
Seyfarth Shaw LLP has added partner John Domby to the firm's real estate department in Charlotte, North Carolina, the firm announced Tuesday.
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June 05, 2024
Property Plays: WP Carey, Tribeca, Tower Capital
W.P. Carey inked $258 million worth of investments, largely in industrials; a total of $21.5 million was loaned for the acquisition and conversion of an eight-story Tribeca building; Tower Capital lined up $47.4 million for a build-to-rent community in Texas.
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June 05, 2024
OKC Lawmakers Clear Height Limit For Planned Skyscraper
Oklahoma City lawmakers approved the rezoning of a local downtown area in order to get rid of a height limit for a mixed-use development project that's expected to include a 1,907-foot tall skyscraper, which would be the tallest skyscraper in the country.
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June 05, 2024
Miami Developer Maintains Pioneering Touch In Latest Moves
Miami-area developer Masoud Shojaee spoke with Law360 Real Estate Authority about his project strategy and how it has led to longevity for his firm Shoma Group and given him confidence in helping to address a housing crisis and various challenges in the market.
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June 05, 2024
Sterling Org Raises $600M For Retail RE Investments
Sterling Organization, a private-equity real estate investment firm, closed its Sterling Value Add Partners IV LP fund after it surpassed its $500 million goal and obtained more than $600 million worth of capital commitments, according to a Wednesday announcement.
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June 05, 2024
Fire Co. Shuts Down Insurer's $3.7M Subrogation Bid
A hotel's insurer cannot seek reimbursement from a fire protection company for its roughly $3.7 million coverage payment following a pipe rupture in the hotel's fire sprinkler system, an Ohio federal court ruled, finding the hotel and fire protection company waived their respective insurers' subrogation rights.
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June 05, 2024
Disney To Spend $8B In Fla. After Deal With Oversight Board
As part of a settlement to end a state lawsuit, members of a local oversight district picked by Gov. Ron DeSantis advanced a development agreement on Wednesday permitting a major new theme park at Disney World as the entertainment giant plans $8 billion in spending over the next decade in Florida.
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June 05, 2024
1st Circ. May Undo Tribal Casino Bribery Convictions
First Circuit judges hinted Wednesday that jurisdictional flaws and other issues could reverse the bribery convictions of an architect and tribal chairman in connection with a proposed $1 billion casino in southeastern Massachusetts.
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June 05, 2024
$1.5B Funding Surge Highlights EPA's Brownfields Evolution
Building on what's already a much-touted bipartisan success story, the EPA has ironed out many of the wrinkles in its brownfields program and is now equipped with a surge of funding. In the first of a four-part series, Law360 Real Estate Authority analyzes the trends and outlooks from the agency's brownfield grant data.
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June 04, 2024
S. Korea Claims Victory In Chinese Investor's $1.47B Dispute
South Korea's Ministry of Justice has announced that an international tribunal threw out all claims asserted by a Chinese real estate investor in a treaty case over a South Korean bank's forced sale of his shares in a local real estate company he founded.
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June 04, 2024
LA Landfill Owner Faces Suits Over Foul Fumes, Runoff
Some 800 people near a waste dump in Los Angeles County sued its operator for damages, alleging the company is liable for a smoldering underground fire at the site — the county's second-largest landfill — that has spewed toxic gas into the air for the last year, as well as geyser-like eruptions of polluted water from the ground.
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June 04, 2024
6th Circ. Says 1,000-Yard Gun Range Not Constitutional Right
A split Sixth Circuit panel said a Michigan town had the authority to ban long-distance gun ranges despite the Second Amendment's protections, ruling it was "difficult to imagine" that training to shoot from 1,000 yards away was needed to defend oneself.
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June 04, 2024
Data Center Firm Nets $1.3B In Financing For Development
STACK Infrastructure has secured $1.3 billion in fundraising for data center projects in the U.S., Europe and the Asia-Pacific region, the company announced Tuesday.
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June 04, 2024
SEC Shutters Salt Lake City Office, Shifts Cases To Denver
The U.S. Securities and Exchange Commission said on Tuesday that it will close its Salt Lake City office for budgetary and organizational purposes, saying that the caseload of the office, which among other things handled the troubled Debt Box case, will now be handled by staff in Denver.
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June 04, 2024
Real Estate Lawyers On The Move
Nossaman, Miles & Stockbridge and Holman Fenwick Willan are among the firms that have made recent real estate or construction hires.
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June 04, 2024
Troutman Real Estate Ace Rejoins Morris Manning In Atlanta
Morris Manning & Martin LLP announced Tuesday that an attorney who left the firm as an associate for Troutman Pepper Hamilton Sanders LLP a little over a year ago has rejoined the firm in Atlanta as a partner in its real estate practice.
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June 04, 2024
V&E Advises $700M Offer To Take Whitestone REIT Private
MCB Real Estate, guided by Vinson & Elkins LLP, approached Whitestone REIT with an offer to buy the real estate investment trust and take it private in a $700 million deal, less than a day after the shopping center operator announced changes to its board in the wake of a proxy fight.
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June 04, 2024
11th Circ. Affirms Nix Of IRS Easement Disclosure Guidance
The Eleventh Circuit affirmed Tuesday that an Internal Revenue Service notice imposing reporting requirements on potentially abusive conservation easements was invalid because the agency failed to solicit the public feedback required by administrative law.
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June 04, 2024
Colo. Orders Disclosure Of Info On Local Property Tax Levies
Local jurisdictions in Colorado will be required to provide certain information about their property tax levies under legislation signed into law by Democratic Gov. Jared Polis.
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June 03, 2024
SF Office Market Standout Notches New Leases
Even as San Francisco's office market remains in a four-year downturn, the city's 140 New Montgomery Street tower has kept signing tenants seeking prime space, with three newcomers taking a combined 55,913 square feet, CBRE and building owner Pembroke announced Monday.
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June 03, 2024
Some Racketeering Claims In $92M Award Suit Can Proceed
A Monaco bank and a Luxembourg lawyer and trust administrator must face racketeering claims accusing them of helping to hide the fortune of a Russian businessman who's on the hook for a $92 million arbitral award, a California federal judge ruled on Friday.
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June 03, 2024
Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.
The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.
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June 03, 2024
Judge Says It's Time For DIP Deal For Steward Healthcare
A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while saying the company needs that final commitment soon.
Expert Analysis
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Keys To Navigating The Post-Pandemic CRE Market
Excerpt from Practical Guidance
As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.
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To Hire And Keep Top Talent, Think Beyond Compensation
Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.
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How Rate Exportation Is Shifting Amid Regulatory Trends
All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.
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How The Commercial Real Estate Slump May Weigh On Banks
The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.
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Negotiating Material Escalation In Construction Contracts
As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.
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Landlords Should Prep As WeWork Faces Potential Ch. 11
After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.
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Identifying Trends And Tips In Litigation Financing Disclosure
Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.
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Key Drivers Behind Widespread Adoption Of NAV Financing
While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.
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Conn. Ruling Highlights Keys To Certificate-Of-Need Appeals
The Connecticut Supreme Court's recent decision in High Watch Recovery Center v. Department of Public Health, rejecting rigid application of statutes concerning certificate-of-need procedure, provides important guidance on building an administrative record to support a finding that a case is contested, say attorneys at Robinson & Cole.
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The Pop Culture Docket: Judge Elrod On 'Jury Duty'
Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.
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Pickleball Makes Waves In Fla. Real Estate, With Risks In Play
Pickleball's burgeoning popularity in Florida is catalyzing a transformation in the state's commercial real estate market, but investors must take steps to navigate legal challenges related to noise, insurance and community dynamics, says Emmanuelle Litvinov at DarrowEverett.
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4 Business-Building Strategies For Introvert Attorneys
Excerpt from Practical Guidance
Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
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What Calif. Pot Permit Ruling Means For Enviro Compliance
While a California appeals court's recent decision in Lucas v. City of Pomona affirms the city's use of a statutory exemption for its commercial cannabis overlay permit program, the ruling does not mean that all applicants seeking similar approvals are exempted from state environmental compliance obligations, say Whitney Hodges and Barbara Machado at Sheppard Mullin.