Real Estate

  • July 24, 2014

    SF Property Owners Challenge Eviction Law

    San Francisco property owners on Thursday brought a suit in a California federal court alleging a city ordinance “illegally and unconstitutionally” forces landlords to pay massive sums of money to tenants before they can take their property off the rental market.

  • July 24, 2014

    Developers Race To Build Along Miami's Neglected Riverfront

    While the recent sale of a 1.25-acre property in downtown Miami for $125 million put an exclamation point on the local real estate market's recovery, it also turned a spotlight on the boom hitting the often overlooked Miami River, where developers are seeking out increasingly scarce waterfront opportunities amid the ongoing downtown revival.

  • July 24, 2014

    Real Estate Investment Firm Sues Denihan Over Surrey Hotel

    Real estate investment firm 2BSurrey LLC filed suit in Manhattan Supreme Court on Monday accusing Denihan Hospitality Group LLC of failing to sell a 50 percent stake in the ground lease at The Surrey hotel as it had promised under an agreement.

  • July 24, 2014

    RE Rumor Mill: Ben Shaoul, Flipkart, New York Wheel

    Magnum Real Estate's Ben Shaoul has reportedly secured $71 million for a dormitory construction project, while Flipkart is said to be eyeing a massive lease in Bangalore and the New York Wheel has reportedly received $150 million in EB-5 funding.

  • July 24, 2014

    7th Circ. Applies Risk Contribution To Lead Paint Suits

    The Seventh Circuit revived a man’s suit alleging he was poisoned by white lead carbonate pigment, made by Sherwin-Williams Co. and five others, in his house, finding Thursday that his risk contribution argument against all the manufacturers was constitutional.

  • July 24, 2014

    RBS Securities Can't Duck CUNA Mutual's MBS Suit

    A Wisconsin federal judge refused Wednesday to dismiss CUNA Mutual Group's suit against RBS Securities Inc., saying the insurer may have been justified in dragging its heels on some claims that the investment bank overhyped its mortgage-backed securities.

  • July 24, 2014

    Law Firm, Business Leaders Join To Urge TRIA Extension

    Nearly 120 top executives at law firms and major corporations have urged U.S. House Republican leaders to follow the Senate's lead and swiftly pass legislation to maintain a federal terrorism reinsurance program that is set to expire at the end of the year.

  • July 24, 2014

    CFPB's Mortgage Data Reboot Poses Risks For Lenders

    The Consumer Financial Protection Bureau’s plan to require lenders to report additional data about homebuyers will finally bring a decades-old disclosure rule in line with modern lending practices, but it could expose banks and others to privacy breaches and enforcement actions, experts say.

  • July 24, 2014

    LA Church Property Fight Can Be Resolved By Earthly Court

    A California appeals court on Wednesday revived three lawsuits surrounding a church property dispute between parishioners of a nearly century-old Los Angeles parish and the Anglican Church in America, saying the lower court should decide who controls the property based on the validity of a 2012 disaffiliation vote.

  • July 24, 2014

    Olymbec Group Picks Up Dallas Skyscraper From Berkeley

    Canada-based Olymbec Group bought a 49-story office tower in downtown Dallas from Berkeley Investments Inc. that’s home to Akin Gump Strauss Hauer & Feld LLP, Neiman Marcus and a unit of Southcross Energy Partners, broker CBRE announced Thursday.

  • July 24, 2014

    Professional Liability Pro Rejoins Kaufman Dolowich In NJ

    A one-time Kaufman Dolowich & Voluck LLP attorney who specializes in professional liability defense for law firms as well as parties in the insurance, real estate and financial services industries has rejoined the firm from The Gonzo Law Group LLC, Kaufman Dolowich announced Wednesday.

  • July 24, 2014

    Corcoran Says It's Owed $9M For Hamptons Mansion Sale

    The Corcoran Group Inc. is seeking $8.82 million in allegedly unpaid commission fees in a lawsuit claiming it was excluded from the $147 million sale of an East Hampton mansion, despite having initially been hired to exclusively broker the deal.

  • July 24, 2014

    ResCap Borrower's Bad-Foreclosure Claim Pared In Ch. 11

    A $58 million bankruptcy trust set up to compensate Residential Capital LLC borrowers cannot entirely expunge a claim brought by a man blaming a wrongful foreclosure for his wife's death, a New York bankruptcy judge ruled Thursday, saying the claimant can recover for any resulting emotional distress.

  • July 24, 2014

    G.S. Wilcox & Co. Arranges $74M In NJ, NY Financings

    G.S. Wilcox & Co. has arranged nearly $74 million in financing for various properties in New Jersey and New York, the firm announced on Thursday.

  • July 24, 2014

    $1B Boston Convention Center Bill Awaits Governor's Nod

    Massachusetts Gov. Deval Patrick is still reviewing a measure authorizing a $1 billion expansion of the Boston Convention & Exhibition Center that state lawmakers approved and sent to him Wednesday.

  • July 24, 2014

    Orrick's Credit Suisse MBS Analysis Is Fair Game, Judge Says

    A New York judge on Wednesday said Credit Suisse AG must produce documents stemming from an analysis by Orrick Herrington & Sutcliffe LLP on repurchase demands for loans underlying $497 million worth of residential mortgage-backed securities, finding the study isn't protected by attorney-client privilege.

  • July 24, 2014

    SL Green Sells 3 Manhattan Buildings For $656M

    SL Green Realty Corp. has agreed to sell three of its Manhattan properties in three separate transactions for a total of $656 million, netting the landlord $240 million in cash proceeds, the company announced late on Wednesday.

  • July 24, 2014

    Morgan Stanley Pays SEC $275M To Settle RMBS Claims

    The U.S. Securities and Exchange Commission on Thursday said it settled claims against three Morgan Stanley entities accused of misleading investors in a pair of residential mortgage-backed securitizations that were the last subprime deals the firms underwrote, sponsored and sold.

  • July 24, 2014

    Dealmakers Q&A: Gardere's Quan Vu

    I have been involved in a deal where the lawyers of one of the parties spent three hours giving comments to the first nine pages of a 100-plus page indenture. Those lawyers obtained a lot of favorable provisions for their client — up until the time their client got kicked out of the deal, says Quan Vu of Gardere Wynne Sewell LLP.

  • July 23, 2014

    S&P May Face SEC Enforcement Action Over MBS Ratings

    Standard & Poor's Ratings Services could face an enforcement action by the U.S. Securities and Exchange Commission over alleged violations of federal securities laws with respect to its ratings of several commercial mortgage-backed securities, S&P parent McGraw Hill Financial Inc. said in a Wednesday SEC filing.

Expert Analysis

  • Property Owners Must Watch Out For Municipal Ordinances

    S. Brendan Lynch

    Considering a recent Eleventh Circuit ruling in Hillcrest Property v. Pasco County, the ability of a property owner to challenge a municipal regulation in the takings context potentially starts running immediately upon enactment of the statute, regardless of the property owner’s actions, says S. Brendan Lynch of Lowndes Drosdick Doster Kantor & Reed PA.

  • Code Trumps Contract In The 5th Circ.

    Debra McElligott

    The Fifth Circuit opinion in Goldsby v. 804 Congress suggests that even where parties agree upon foreclosure-related fees, costs and charges before a bankruptcy, Section 506(b) of the Bankruptcy Code may still trump the provisions of their contract, says Debra McElligott of Weil Gotshal & Manges LLP.

  • The Ins And Outs Of Competitor Restrictions In Leases

    Stuart Mass

    When representing a large tenant at a shopping mall or an office building, remember to consider whether there are competitor leasing and signage restrictions that are required or desired by your client. When representing a landlord, remember to “just say no,” say attorneys with Haynes and Boone LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.

  • 6th Circ. Errs In Conflating Primary With Excess Insurance

    Richard C. Mason

    The Sixth Circuit’s IMG Worldwide v. Westchester Fire Insurance Co. decision needlessly eliminates consumer choice — and promises to increase declaratory judgments by excess insurers who heretofore had not needed to preemptively involve the courts, says Richard Mason, co-chairman of Cozen O’Connor PC's professional liability insurance coverage and reinsurance practices.

  • VIDEO: Lacoste North America CEO Discusses US Market

    Anthony Lupo

    Shedding light on the lifestyle brand’s strategic initiatives in the U.S., as well as real estate law and the importance of Fifth Avenue, Lacoste North America president and CEO Francis Pierrel sat down for a video interview with Anthony Lupo, co-chairman of Arent Fox's IP practice and chairman of the firm's fashion, luxury goods and retail group.

  • Separate Classification Gone Too Far

    Scott M. Grossman

    A district court decision in CWCapital Asset Management v. Burcam Capital II may bolster the arguments of secured creditors in opposing cramdown efforts by debtors who may have been emboldened by other recent decisions supporting creative classification schemes, say Scott Grossman and Ari Newman of Greenberg Traurig LLP.

  • Powerful Tools For Discovery And Litigation Strategy

    Nathalie Hofman

    Analytics offer opportunities for refining both discovery strategy and overall litigation strategy by providing information to support better informed decisions. As an added bonus, they can result in significant cost savings, say Nathalie Hofman and Carolyn Southerland of Huron Consulting Group Inc.

  • Mass. Court Clarifies 'No Damage For Delay' Waiver Issues

    Scott A. McQuilkin

    A recent Massachusetts Superior Court decision makes clear that courts are unlikely to find that a "no damage for delay" clause in a construction contract has been waived unless a contractor provides evidence showing a clear and unequivocal intent, says Scott McQuilkin of Hinckley Allen & Snyder LLP.

  • PRISM Scatters Attorney-Client Privilege

    Any attorney sending or storing confidential client information or privileged communications via the cloud may be knowingly exposing those communications to scrutiny by the U.S. government via programs such as the National Security Agency’s PRISM — and arguably, even waiving any claim of privilege as a result, say attorney Thomas Mullaney and Vaultive CEO Elad Yoran.