Commercial

  • January 27, 2025

    Late Filings Didn't Stymie Tax Challenges, Conn. Justices Say

    Failing to file timely appraisals on commercial properties valued over $1 million was not fatal to several owners' tax assessment challenges under a new state law, the Connecticut Supreme Court ruled Monday, agreeing that a trial judge properly reopened the cases months after a missed deadline.

  • January 27, 2025

    Office CMBS Delinquency Rate Rises To All-Time High Of 11%

    Some commercial mortgage-backed securities continued to go underwater in December, with the office sector's delinquency rate hitting a record 11.01% and the biggest, newly delinquent piece of debt being a $670 million loan backed by Manhattan's 230 Park Ave., according to Trepp data on Monday.

  • January 27, 2025

    NJ Shortens Window For Use Of Redevelopment Tax Credits

    New Jersey reduced the time in which tax credits for certain mixed-use and commercial real estate redevelopment projects must be used after approval as part of a bill signed by Gov. Phil Murphy.

  • January 27, 2025

    NYC Real Estate Week In Review

    Seyfarth Shaw and Nixon Peabody are among the law firms that scored work on the largest New York City real estate deals that hit public records last week, with a pair of transactions in Brooklyn leading the way.

  • January 27, 2025

    High Court Skips Golf Course Investors' Class Cert. Bid

    The U.S. Supreme Court on Monday rejected a review petition filed by Chinese investors who wanted class certification for their Ponzi scheme suit against a Chinese citizen accused of misusing the investors' money to buy multiple golf courses and other properties in South Carolina.

  • January 27, 2025

    Loeb & Loeb Adds Another Morrison Cohen Partner

    Commercial real estate attorney Gillian Kessler became the latest Morrison Cohen LLP partner to leave the firm for Loeb & Loeb, according to an announcement.

  • January 27, 2025

    Mo. Tax Commission Lowers T-Mobile Towers' Value

    Two T-Mobile cell towers in Missouri should have their value lowered after the company provided a thorough inspection that properly accounted for depreciation, the state's tax commission ruled.

  • January 27, 2025

    Barings, Apollo Ink $113M Refinancing For Indianapolis Hotel

    Barings said Monday that it worked with Apollo Global Management to provide $113 million in refinancing for a hotel in downtown Indianapolis owned by an affiliate of KSL Capital Partners.

  • January 27, 2025

    Proskauer Brings On MoFo REIT Expert As M&A Partner In DC

    Proskauer Rose LLP has added a former co-chair of Morrison Foerster LLP's real estate investment trust practice as a mergers and acquisitions partner in its Washington, D.C., office, the firm announced Monday.

  • January 27, 2025

    High Court Passes On Solar Project Fine Levied Without Jury

    The U.S. Supreme Court on Monday declined to review the Vermont Supreme Court's ruling that the state Public Utility Commission has the authority to bypass a jury trial and unilaterally impose civil penalties on solar energy project backers that allegedly cleared land without a permit.

  • January 24, 2025

    Various Law Offices Evacuated As Hughes Fire Burns Nearby

    Within hours of igniting Wednesday, the Hughes Fire became the third-largest blaze to affect Los Angeles County this month — and prompted various lawyers in the area to evacuate their offices.

  • January 24, 2025

    Property Plays: AT&T, Blue Owl, Flow Life

    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.

  • January 24, 2025

    NJ Judge Rejects Bid For New Trial In Red Roof Inn Deal

    A New Jersey state judge has rejected a bid for a new trial over a deal gone wrong to purchase a Red Roof Inn, ruling two witnesses who asserted their Fifth Amendment rights outside of the jury's presence had no bearing on the jury's verdict.

  • January 24, 2025

    Gordon Rees Expands Litigation Bench With Atlanta Partner

    Gordon Rees Scully Mansukhani LLP has added a former Gray Rust St. Amand Moffett & Brieske LLP partner in Atlanta, strengthening the firm's commercial litigation practice.

  • January 24, 2025

    Lutnick Settles Chancery Suit Ahead Of Commerce Hearing

    Billionaire Howard L. Lutnick, President Donald Trump's nominee for secretary of commerce, has settled a Delaware Court of Chancery derivative suit accusing the Newmark Inc. principal executive officer of "blowing smoke" around his part in a $500 million stock-value gain in order to receive a $50 million bonus.

  • January 24, 2025

    GSA Taps Ex-BlackRock Atty As New GC

    The General Services Administration has tapped Russell McGranahan, the former general counsel of Focus Financial Partners who held legal roles at BlackRock and in private practice for almost 30 years, as its next general counsel, according to a Friday announcement.

  • January 24, 2025

    Taxation With Representation: Latham, Simpson Thacher

    In this week's Taxation With Representation, a Brookfield private real estate fund acquires Divvy Homes' property portfolio and platform, Kantar Group proposes the sale of Kantar Media, and an Ares Management-led group buys a majority of Form Technologies Inc.'s common equity.

  • January 24, 2025

    AT&T Unloads Copper Network Sites To Developer For $850M

    AT&T said on Friday it has reached a sale leaseback agreement with New York real estate development firm Reign Capital netting the telecommunications company $850 million to unload 74 properties as it transitions to a fiber optic and wireless network instead of one reliant on copper.

  • January 24, 2025

    Blackstone To Buy $1B Power Plant In Va. Data Center Mecca

    Blackstone, advised by Kirkland & Ellis LLP, plans to purchase a natural gas power plant in Loudoun County, Virginia — a region known for having the biggest data center market in the world — for $1 billion from Latham & Watkins LLP-led Ares Management, according to a source familiar with the matter.

  • January 23, 2025

    Conn. Lawmakers Target Healthcare After Hospital's Ch. 11

    In the lead-up to and aftermath of California hospital operator Prospect Medical Holdings Inc.'s $1 billion bankruptcy, Connecticut lawmakers are considering new regulatory powers, promising and penning oversight bills for hospitals owned by private equity firms and real estate trusts while seeking to stabilize the state's healthcare markets.

  • January 23, 2025

    Wells Fargo Prevails In $25M Mortgage Default Dispute

    A Pennsylvania state court sided with Wells Fargo in a foreclosure suit accusing a Philadelphia property owner of defaulting on a nearly $25 million mortgage loan, finding the owner failed to abide by the loan agreement.

  • January 23, 2025

    Rosenberg & Estis Adds NY Gov't Atty To Transactions Dept.

    Rosenberg & Estis PC has hired Lisa S. Lim, the general counsel of the New York City Public Housing Preservation Trust, as a member of a city-focused development team that's part of the firm's transactions department.

  • January 23, 2025

    Harrison Street Pulls In $600M For Data Center-Focused Fund

    Harrison Street said Jan. 23 that it raised $600 million for the investment management firm's first dedicated pool of capital for digital infrastructure and plans to primarily target U.S. data center projects.

  • January 23, 2025

    Corporate Transparency Law Remains Flanked By Threats

    The Corporate Transparency Act is facing threats across the branches of government despite the U.S. Supreme Court pausing a nationwide injunction on it Thursday, with another universal injunction in place, other court battles underway and some Republican lawmakers targeting the law.

  • January 23, 2025

    Kirkland Advises Blue Owl On $2.3B Texas Data Center Loan

    Kirkland & Ellis LLP advised Blue Owl Capital in arranging a $2.3 billion loan to build a 206-megawatt, build-to-suit data center development in Abilene, Texas, a project with Crusoe Energy Systems and Primary Digital Infrastructure.

Expert Analysis

  • Hedging Variable Interest Rates In A Volatile Market

    Author Photo

    Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.

  • Parsing FTC's Intercontinental-Black Knight Merger Challenge

    Author Photo

    The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.

  • Effectual Relief Questions Linger After Section 363 Ruling

    Author Photo

    In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.

  • 3 Alternatives To CRE Collateralized Loan Obligations

    Author Photo

    With current commercial real estate market conditions pushing issuers away from collateralized loan obligations, several Freddie Mac offerings should be considered as alternative exit strategies for mortgage loans secured by multifamily properties, say attorneys at Mayer Brown.

  • Ga. Banking Brief: All The Notable Compliance Updates In Q2

    Author Photo

    Legislation signed into law in the second quarter of the year in Georgia tackled a broad range of issues that will affect financial institutions, from money laundering and consumer protection to commercial financing disclosures and a lengthy cleanup of the banking and finance code, says Elizabeth Garner at Parker Hudson.

  • Sackett Ruling, 'Waters' Rule Fix Won't Dry Up Wetlands Suits

    Author Photo

    In the wake of the U.S. Supreme Court's recent ruling in Sackett v. U.S. Environmental Protection Agency narrowing the scope of Clean Water Act protections, the Biden administration is amending its rule defining "waters of the United States" — but the revised rule will inevitably face further court challenges, continuing the WOTUS legal saga indefinitely, say attorneys at Milbank.

  • Fla. Banking Brief: All The Notable Compliance Updates In Q2

    Author Photo

    Florida financial institutions must now navigate minimum interest rates for attorney trust accounts, restrictions on property sales to prohibited foreigners, and a ban on weighing environmental, social and governance factors to determine a customer's creditworthiness — changes that will add to banks' compliance pressures, says Patricia Hernandez at Avila Rodriguez.

  • NY, NJ Regs Give Clarity To Cannabis Investors, Ancillaries

    Author Photo

    Proposed laws and regulations in New York and New Jersey would clarify some previously murky legal waters, thus expanding the ability of investors, lenders and ancillary service providers to work with marijuana business in these states, say David Waxman and Heidi Urness at McGlinchey Stafford.

  • What To Expect From High Court's Whistleblower Case

    Author Photo

    The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will likely have widespread implications for the future of anti-retaliation whistleblower litigation, and could make it more difficult for would-be whistleblower-employees to succeed on anti-retaliation claims under the Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at Sullivan & Cromwell.

  • RICO Ruling Makes US More Attractive Foreign Creditor Forum

    Author Photo

    The U.S. Supreme Court's decision in Yegiazaryan v. Smagin, allowing a foreign plaintiff to use the Racketeer Influenced and Corrupt Organizations Act to enforce a foreign arbitral award, will make judgment creditors more likely to seek out U.S. courts to remedy efforts to frustrate the enforcement of international arbitration awards, say attorneys at Paul Hastings.

  • 5 Strategies For Restructuring Underperforming CRE Loans

    Author Photo

    With commercial real estate industry conditions expected to deteriorate further in the coming months, market participants should consider a number of strategies to help resolve challenged investments, ranging from financial restructurings to project phasing, say attorneys at Ballard Spahr.

  • Post-Ciminelli Predictions On Right-To-Control Convictions

    Author Photo

    The recent Second Circuit filings in Binday suggest that the government will fight to preserve its right-to-control convictions in the wake of the U.S. Supreme Court's Ciminelli decision, and offer clues about key issues that will drive post-Ciminelli litigation, say attorneys at Debevoise.

  • Steps To Success For Senior Associates

    Excerpt from Practical Guidance
    Author Photo

    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.