Commercial

  • 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.

  • February 20, 2025

    Wash. Justices Say CARES Act Doesn't Shield Violent Renters

    The Washington Supreme Court on Thursday said landlords did not have to give 30 days' notice under the federal Coronavirus Aid, Relief and Economic Security Act before evicting violent tenants, settling a question that had split two lower appellate panels.

  • February 20, 2025

    NYC Mayor Unveils Plan To Build Coney Island Homes

    New York City Mayor Eric Adams revealed a new plan Feb. 20 that aims to initially build over 500 mixed-income homes in Brooklyn's Coney Island neighborhood, continuing his push for more housing amid an ongoing affordability crisis.

  • February 20, 2025

    NY Expands Local Power To Give Storm Damage Tax Breaks

    New York state expanded municipalities' authority to provide property tax breaks to owners of property damaged by severe storms and other natural disasters by allowing that relief to be granted for small business' property as part of a bill signed by Gov. Kathy Hochul.

  • February 20, 2025

    Fla. Senate Bill Seeks Study On Eliminating Property Taxes

    A Republican Florida state senator filed legislation that would require a state agency to study the prospects of eliminating property taxes in exchange for levying additional state and local sales taxes.

  • February 20, 2025

    Luxury Hotel REIT Says Fire, Hurricane Recoveries Underway

    Host Hotels & Resorts Inc. reported Thursday that it thinks a gradual recovery at its luxury resorts in Maui, Hawaii, may finally be underway after the 2023 fires, adding that the hurricane restoration at a key Florida property should soon be finished.

  • February 20, 2025

    Yellow Corp. Urges Ch. 11 Judge To OK $11.5M Terminal Sales

    Defunct trucking company Yellow Corp. asked a Delaware bankruptcy judge to sign off on the $11.5 million private sale of two leased truck terminals to ABF Freight System Inc.

  • February 19, 2025

    Alaskan Village Says Its Immune From Residents' Casino Suit

    An Alaskan Native village is asking a federal district court to dismiss a challenge by a group of Anchorage residents that seeks to block its plans for a 58,000-square-foot casino, arguing that it is a required party in the litigation that has not waived its sovereign immunity.

  • February 19, 2025

    SL Green Can't Escape Property Transfer Fraud Suit

    A New York federal judge refused Wednesday to let SL Green and several of the real estate investment trust's entities escape a fraudulent property transfer suit, but he narrowed state law claims seeking to collect on a related judgment for nearly $13 million.

  • February 19, 2025

    Nixon Peabody Atty On Affordable Housing And Trump Tariffs

    Affordable housing projects may be able to withstand expected price hikes from tariffs more easily than commercial ones, Nixon Peabody LLP's affordable housing leader told Law360 in a recent interview.

  • February 19, 2025

    Equinix Shareholder Claims Its Board Manipulated Financials

    An Equinix Inc. shareholder lodged a derivative shareholder suit accusing the data center-focused real estate investment trust's executives of manipulating financials to dupe investors, marking the latest legal challenge to arise since an investment research firm first made the claim last year.

  • February 19, 2025

    Olshan-Led Investor Picks Proxy Fight With Healthcare REIT

    Land & Buildings Investment Management LLC, guided by Olshan Frome Wolosky LLP, said it nominated two candidates to National Health Investors Inc.'s board of directors on Wednesday, arguing that conflicts of interest plague the real estate investment trust's leadership team.

  • February 19, 2025

    McDermott Commercial Real Estate Attorneys Join Cleary

    Cleary Gottlieb Steen & Hamilton LLP announced Wednesday that the former co-head of McDermott Will & Emery's U.S. real estate practice group and two team members have joined Cleary's real estate group.

  • February 19, 2025

    Landlords, Judiciary Brace For Federal Leasing Slimdown

    As the General Services Administration pores over the federal real estate portfolio, lenders, landlords and institutional investors are scrambling to understand their exposure to federal leases, while the potential canceling of judiciary office leases is setting up a showdown between branches of government.

  • February 19, 2025

    Adams, DOJ Quizzed On Dismissal Bid By Wary Judge

    A Manhattan federal judge on Wednesday scrutinized the U.S. Department of Justice's motion to dismiss corruption charges against New York City Mayor Eric Adams, rankling attorneys on both sides as he declined to "shoot from the hip" and immediately rule.

  • February 19, 2025

    La. Court Orders New Trial In Museum's Hotel Tax Break Case

    A Louisiana board that allowed a property tax exemption for a hotel operated by the nonprofit National World War II Museum should have held a new trial after evidence surfaced that the hotel was more profitable than previously disclosed, a state appeals court ruled.

  • February 19, 2025

    Newmark CLO To Lead Boards As Lutnick Takes Cabinet Post

    Newmark Group Inc., a commercial real estate adviser, and BGC Group Inc., a brokerage and financial technology company, said Wednesday they had named Chief Legal Officer Stephen Merkel to replace his longtime friend and boss, Howard Lutnick, as chair of both companies' board of directors following Lutnick's confirmation as Secretary of Commerce.

  • February 19, 2025

    Real Estate Group Of The Year: Wachtell

    Wachtell Lipton Rosen & Katz's real estate team guided major deals, representing Spirit Realty Capital Inc. in its $9.3 billion, all-stock acquisition by Realty Income Corp., and Public Storage's $2.2 billion acquisition of Simply Self Storage, earning it a spot as one of the 2024 Law360 Real Estate Groups of the Year.

  • February 19, 2025

    Construction Group Of The Year: Seyfarth

    Seyfarth Shaw LLP's construction attorneys advised a massive transit project valued at nearly $2 billion that the firm said will be the centerpiece of the Miami skyline when completed. That and other recent work have earned the team a spot among the 2024 Law360 Construction Groups of the Year.

  • February 19, 2025

    Ill. Dept. OKs Quantum Computing Building Tax Credit Regs

    Illinois individual and corporate taxpayers may claim income tax credits for a portion of wages paid to workers employed in the construction of quantum computing campus facilities, the state Department of Revenue said in adopted regulatory amendments.

  • February 19, 2025

    Power Transformer Manufacturer To Build $102.5M NC Facility

    North Carolina Gov. Josh Stein announced Wednesday that, with assistance from a state grant, a manufacturer of power and distribution transformers will embark on a $102.5 million expansion of a manufacturing facility in the city of Raeford that will add 217 jobs.

  • February 19, 2025

    Prologis Founder To Step Down As CEO After 4 Decades

    Industrial real estate investment trust Prologis announced Wednesday that CEO and co-founder Hamid Moghadam will step down from his position leading the company after more than 40 years.

  • February 19, 2025

    RSM Analyst Sees Growth For Family Offices In Real Estate

    Law360 Real Estate Authority recently caught up with Gene Garcia, a Houston-based principal and real estate senior analyst with RSM US LLP, to discuss the relationship between family offices and real estate and what lies ahead.

  • February 18, 2025

    Trump Exec Order Expands Control Over Independent Agencies

    President Donald Trump signed an executive order Tuesday to limit the autonomy of independent agencies such as the U.S. Securities and Exchange Commission and Federal Communications Commission by requiring them to submit draft regulations for presidential review.

  • February 18, 2025

    Airbnb, Owners Sue New Orleans Over Short-Term Ordinances

    Airbnb and a group of New Orleans property owners have brought a new lawsuit against the city challenging 2023 restrictions on short-term rentals and a set of requirements passed in October mandating that platforms verify that rental hosts are following city rules.

Expert Analysis

  • A Deep Dive Into High Court's Permit Fee Ruling

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    David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.

  • What To Consider When Buying RE Promissory Notes

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    In light of recent distress in the real estate market, note purchases — in which an investor buys a promissory note and mortgage rather than actual property — can be a worthwhile alternative to traditional investments, but require careful contemplation of unique risks and strategic considerations, say Douglas Praw and Katelyn DeMartini at Holland & Knight.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • SEC Climate Rules Create Unique Challenges For CRE

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    The U.S. Securities and Exchange Commission's recently adopted final rules concerning climate-related disclosures for public companies are likely to affect even real estate companies that are not publicly traded, since they may be required to provide information to entities that are subject to the rules, says Laura Truesdale at Moore & Van Allen.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.

  • How Retail Tenants Can Avoid Paying Rent Prematurely

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    When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Calif. Ruling Shows Limits Of Exculpatory Lease Clauses

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    A California court's recent decision in Epochal Enterprises v. LF Encinitas Properties, finding a landlord liable for failing to disclose the presence of asbestos on the subject property, underscores the limits of exculpatory clauses' ability to safeguard landlords from liability where known hazards are present, say Fawaz Bham and Javier De Luna at Hunton.

  • Payment Provision Lessons From NJ Construction Ruling

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    A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.