Residential
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February 07, 2025
Property Plays: KKR, Freshfields, Sonesta
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 07, 2025
SoCal Edison Says Its Equipment May Have Caused Hurst Fire
Southern California Edison told a state energy regulator that it believes its utility equipment might have ignited last month's Hurst Fire in northern Los Angeles County, but it's still investigating the cause of the area's far more destructive Eaton Fire.
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February 07, 2025
Roofing Co.'s Board Fights $11B Hostile Takeover Offer
Beacon Roofing Supply Inc.'s board of directors is urging shareholders to reject an $11 billion hostile takeover bid by QXO Inc., noting the offer is no different from the technology and software company's earlier proposal.
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February 07, 2025
2 RE Execs, Brother Assaulted 60 Women, Feds Say
Three brothers from Florida, including two prominent real estate executives, denied sex-trafficking charges in Manhattan federal court Friday alleging they conspired to drug and rape women, as a prosecutor said the authorities have interviewed over 60 victims.
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February 06, 2025
Kraken Co-Founder Accuses 'Elite' SF Condo Of Political Bias
Crypto-exchange Kraken co-founder Jesse Powell sued the owner of a landmark condominium — dubbed "Susie's Building" — in California state court Wednesday, claiming the property's allegedly "elite" Democratic shareholders discriminated against him by blocking his efforts to buy a condo due to his conservative views and role in the crypto industry.
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February 06, 2025
Dem Sens. Re-Introduce Bill To Stop Algorithmic Price-Fixing
A group of Democratic senators has re-introduced a bill that would prevent companies from using common software and shared data to set prices through algorithms, an issue that's been the subject of mounting litigation in the rental housing market and other sectors.
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February 06, 2025
4th Circ. Sides With Credit Rater In Developers' Libel Lawsuit
A group of developers won't get a second shot at their libel suit alleging credit rating firm Dun & Bradstreet published misleading credit reports about them after the Fourth Circuit said they failed to show the statements in those reports were defamatory.
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February 06, 2025
Broker Sued In $79M Bezos Deal Has To Replead Defenses
A Florida judge on Thursday struck most of the defenses put forth by Douglas Elliman LLC against accusations that it misrepresented that Amazon founder Jeff Bezos was not the true purchaser of a $79 million Miami property, but told the real estate broker it could assert the defenses again with more facts to support them.
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February 06, 2025
Fannie Mae Finances $309M San Diego Complex Sale
MG Properties has acquired a 12-property multifamily community in San Diego for $309 million from seller Greystar, in a deal financed by Fannie Mae, the borrower announced on Wednesday.
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February 06, 2025
Conn. Gov. Pitches $350M Corporate Tax Boost In Budget
Connecticut would make changes to its corporate taxes that would raise nearly $350 million over two years under the governor's budget proposal, which would also provide property tax relief for residential owners.
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February 06, 2025
Mortgage Co. Strikes Deal To End Loan Officers' OT Suit
A mortgage company reached an agreement with a collective of loan officers to resolve their suit accusing the firm of unlawfully classifying them as exempt from earning overtime wages, a filing in California federal court said.
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February 05, 2025
Dems Want Probe Of RealPage Role In Military Rent Hikes
Senate Democrats are calling on the Department of Defense to open an investigation into property management software company RealPage, saying the company may be driving rent hikes for military families.
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February 05, 2025
RealPage Says Missing Market Power Dooms Antitrust Suit
RealPage Inc. is making another effort to dodge antitrust allegations after the government expanded its case to rope in half a dozen residential landlords, arguing the amended pleading still falls short of showing the property management software company has enough market power to influence rent prices.
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February 05, 2025
'Pay-To-Pay' Fees Are Unfair Debt Practice, 11th Circ. Rules
The Eleventh Circuit said a mortgage servicing company illegally charged borrowers fees for online and phone payments, upholding a Florida federal court's decision that it improperly collected so-called pay-to-pay convenience fees that were not expressly allowed by underlying loan agreements.
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February 05, 2025
LA City Atty Says Rental Startup Price-Gouged During Fires
The Los Angeles City Attorney's Office on Tuesday accused furnished rental startup Blueground of illegally profiting from the destructive wildfires that broke out in Los Angeles last month, saying in a complaint filed in state court that Blueground jacked up rental prices, including in evacuation zones.
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February 05, 2025
Apartment REIT Sees Growing Demand From LA Fires
Equity Residential executives said they're seeing increased demand for larger apartments in select Los Angeles neighborhoods due to the now fully contained wildfires, but an eviction moratorium and other policy responses being floated could do more harm than good, they said.
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February 05, 2025
Essex Avoids Fire Damage, Leans On Bay Area Supply Crunch
Executives with Essex Property Trust said on Wednesday that the company escaped damage from the wildfires that visited Los Angeles last month as it expects to compete for acquisitions next year in markets where supply remains even more strained, such as the Bay Area.
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February 05, 2025
Insurers Sued Over $8M In Water Damage At Wash. Condos
Farmers and Western National have allegedly breached their property insurance policies by refusing to cover nearly $8 million in hidden water damage at two Seattle-area condominium complexes, according to separate complaints filed by the condo owners associations.
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February 05, 2025
Apply Presuit Notice Law Retroactively, Insurer Tells Fla. Court
Universal Property and Casualty Insurance Co. on Wednesday urged the Florida Supreme Court to reverse a decision declining to apply a state law requiring presuit notice against a property insurance carrier to a policy purchased before the law's effective date.
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February 05, 2025
Real Estate Group Of The Year: Gibson Dunn
Gibson Dunn & Crutcher LLP advised on deals including Signature Bank's loan sale, two mega multifamily portfolio sales and the rise of an ultra-luxury tower in New York City in 2024, placing the firm among the 2024 Law360 Real Estate Groups of the Year.
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February 05, 2025
Construction Group Of The Year: Orrick
Orrick Herrington & Sutcliffe LLP guided New York City's Department of Design and Construction as lead counsel on the development of the agency's design-build program, which includes a $13 billion project to replace Rikers Island with community-based jails by using a novel project delivery method for the city, earning the firm a spot among the 2024 Law360 Construction Groups of the Year.
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February 05, 2025
Modern CRE Finance Asks More Of Real Estate Practices
Dramatic shifts are happening in the way commercial real estate is financed. Transactions have gotten “faster, larger and more complicated,” in the words of one attorney, and real estate practices have had to adapt to an evolving sector.
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February 05, 2025
Brokerage Lines Up $166M Financing For Va. Community Buy
Marcus & Millichap arranged $165.9 million in financing for a multifamily real estate investment firm's acquisition of an Alexandria, Virginia, apartment and townhome community, the brokerage announced.
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February 04, 2025
Wells Fargo Clears 2 More Consent Orders Amid Rehab Efforts
The Federal Reserve said Tuesday that Wells Fargo & Co. has exited a pair of mortgage-related consent orders from more than a decade ago, another step forward in the banking giant's regulatory rehabilitation efforts.
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February 04, 2025
Norfolk Southern Hit With 'Toxic Nightmare' Derailment Suit
Hundreds of Ohio and Pennsylvania residents affected by the fallout of the Feb. 3, 2023, Norfolk Southern train derailment have accused the rail company, government agencies and several businesses of downplaying the ongoing harm of the incident, marking one of the latest lawsuits filed on or near the two-year milestone.
![Water pouring out of modern bathroom faucet](https://assets.law360news.com/2291000/2291296/78eec7332010e6cca5a12fdc379d904f9e46b148-istock-140806786-faucet.jpg)
Ecovie Brings Water Recycling Tech To Real Estate
With building developers and operators increasingly having to pay attention to water management, the property technology firm Ecovie is looking to do its part to help the situation, property by property.
![Hands in Canada-themed mittens hold an ax next to a snow-covered tree trunk](https://assets.law360news.com/2289000/2289715/54248bdba0cdf2bb280e319b50a2aef1f00c7e55-trump_canada_tariffs_76764.jpg)
Weyerhaeuser Exec Says Tariffs Could Raise Lumber Prices
Hours before President Donald Trump announced new tariffs on imports from Canada, Mexico and China, Weyerhaeuser Co. CEO Devin Stockfish said such duties could push the cost of lumber imported from Canada higher.
![A man standing among a crowd of people holds a cardboard sign that says unfreeze the federal fund now](https://assets.law360news.com/2289000/2289909/01c1f9250c8ba6f0a865a95c177c2cfa206373f2-trump_federal_aid_62841.jpg)
Federal Freeze Sows Uncertainty In Real Estate Sector
Before a federal funding freeze was rescinded, disruptions to public housing payment systems and uncertainty surrounding federal housing programs put the real estate sector on edge, according to attorneys.
Expert Analysis
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What Contractors Can Do To Address Material Cost Increases
In light of the Trump administration's plans to increase tariffs on Mexico, Canada and China, construction industry players should proactively employ legal strategies to mitigate the impacts that price increases and uncertainty may have on projects, says Brenda Radmacher at Seyfarth Shaw.
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Reg Waiver Eases Calif. Rebuilding, But Proceed With Care
California Gov. Gavin Newsom's executive order suspending some environmental review and permitting requirements for the reconstruction of homes and businesses damaged by recent wildfires may streamline rebuilding efforts, but will require careful navigation of the evolving regulatory landscape, says Gregory Berlin at Alston & Bird.
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A View Of The Shifting Insurance Regulatory Landscape
Attorneys at Eversheds Sutherland explore how the Federal Insurance Office's climate report, the new presidential administration and the California wildfires might affect the insurance regulatory landscape.
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The Tides Are Changing For Fair Access Banking Laws
The landscape of fair access banking laws, which seek to prevent banks from denying services based on individuals' ideological beliefs, has shifted in the last few years, but a new presidential administration provides renewed momentum for advancing such legislation against the backdrop of state efforts, say attorneys at Latham.
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How Congress Can Stem Consumer Finance Law Uncertainty
In the face of rising uncertainty about consumer finance laws that are based largely on fluctuating administrative rules, Congress should cement certain existing laws into statute and clarify federal agencies' delegations of authority, say attorneys at Bradley Arant.
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Illuminating The Trend Of Florida's Unpaid Hurricane Claims
The sheer number of insurance claims closed without payment for damage caused by Hurricanes Milton and Helene reveals a systemic problem within Florida's insurance industry exacerbated by complex issues, including climate change and state regulators' resource limitations, say attorneys at Farah & Farah.
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Insurance Considerations For LA Wildfire Recovery
Businesses and homeowners affected by the destructive Southern California wildfires must act swiftly and strategically to navigate the complexities of the insurance recovery process, including by identifying all applicable policies, documenting damage thoroughly and keeping abreast of relevant state law, say attorneys at Morgan Lewis.
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LA Wildfires' Effect On Calif. Insurer Of Last Resort
Attorneys at Willkie discuss the background of California's insurer of last resort — known as the Fair Access to Insurance Requirements Plan — and examine the process of assessing member insurers and relevant recent property insurance market developments in light of the destruction from the ongoing Los Angeles wildfires.
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Algorithm Price-Fixing Ruling May Lower Antitrust Claims Bar
A Washington federal court's refusal to dismiss Duffy v. Yardi Systems, an antitrust case over rent prices allegedly inflated by revenue management software, creates an apparent split in the lower courts over how to assess such claims, say attorneys at Morgan Lewis.
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California's New Homeowner Law Could Hamper Foreclosures
While A.B. 2424, which took effect this month in California, gives homeowners in default additional protections, it also provides loopholes that can be used to delay foreclosure auctions, and the cost of these delays will likely be passed on to the borrower, says Stephen Britt at Severson & Werson.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Ohio Banking Brief: All The Notable Legal Updates In Q4
Ohio's banking and financial services sector saw several significant developments in the fourth quarter of 2024, including a landmark Uniform Commercial Code ruling, adjustments to the state's Homebuyer Plus Program and the launch of the state's first women-led bank, says attorney Alex Durst.