Real Estate

  • October 20, 2016

    FCRA Class Actions Against RealPage Move Forward

    A Pennsylvania federal judge on Wednesday rejected RealPage Inc.’s position that the U.S. Supreme Court’s Spokeo decision provides ground to toss two putative class actions accusing the property management software company of failing to provide full consumer reports to prospective tenants, saying Congress recognizes that the alleged harm provides standing.

  • October 20, 2016

    Lumber Giant Fights Tax Bill For $706M 'Disguised' Land Sale

    Weyerhauser Co., one of world's largest lumber companies, blasted the IRS in a U.S. Tax Court suit Wednesday for its contention that a Southern Diversified Timber joint venture in 2008 should be considered a $706 million land sale subject to tax rather than a partnership.

  • October 20, 2016

    Fair Market Value Arguments Fail in Nomura Suit, Gov't Says

    The government Wednesday asked a Connecticut court to bar three ex-Nomura Securities traders accused of lying about the price of residential mortgage-backed securities from presenting evidence on the fair market value of the securities, saying it would be beside the point.

  • October 20, 2016

    Shoshone Official Says Contract Ruling 'Blow' For Arapahos

    An Eastern Shoshone Tribe leader claimed in a letter Wednesday that a Montana federal judge "dealt a heavy blow" to the Northern Arapaho Tribe when blocking the Bureau of Indian Affairs from entering into contracts funding government services for the tribes, which share a Wyoming reservation, without getting approval from both.

  • October 20, 2016

    Sidley, Herrick Feinstein Steer $110M Loan For NYC Hotel

    Sidley Austin LLP represented M&T Bank Corp. division Manufacturers and Traders Trust Co. in connection with its $110 million loan to Herrick Feinstein LLP-counseled New Yorker Hotel Management Co. Inc. for a Manhattan hotel that has a retail component, according to records filed in New York on Wednesday.

  • October 20, 2016

    DOI Expands NM Land Review Over Oil, Gas Concerns

    The U.S. Department of the Interior on Thursday announced that a resource management planning endeavor near Farmington, New Mexico, will now include tribal lands to help allay concerns about oil and gas development activity around Chaco Culture National Historical Park.

  • October 20, 2016

    Rainmaker Q&A: Maynard Cooper's Stephen Stallcup

    Cody Willard of Fox Business Network advises clients that it’s often the hardest stock trade to make that is the right trade, and that often applies to doing what it takes to develop a rewarding legal career. Despite all of that, we’re still having a ton of fun in what we do, says Stephen Stallcup, shareholder at Maynard Cooper & Gale.

  • October 20, 2016

    SL Green Sells Stake In $170M NYC Building To BlackRock

    Real estate investment trust SL Green Realty Corp. on Wednesday said that it has sold a 49 percent interest in a Manhattan apartment building to the real assets arm of investment manager BlackRock Inc., in a deal that values the property at $170 million.

  • October 20, 2016

    Milestone REIT Drops $242M On Apartment Portfolio

    Milestone Apartments Real Estate Investment Trust has reached an agreement to purchase six multifamily properties — including complexes in Florida and Texas — for $242.2 million, according to an announcement on Wednesday from the Toronto-based REIT.

  • October 20, 2016

    3 Ways Malls Are Repositioning Amid Anchor Store Departures

    Traditional plans for shopping malls have called for one or more large anchor tenant the likes of Macy’s, JCPenney or Sears, but with those and other large retailers continuing to contract amid pressure from online retailers, mall owners are having to rethink the layout and financing of their properties. Here, Law360 looks at three ways mall developers are reacting to a growing wave of big box-store departures from their properties.

  • October 19, 2016

    Defunct Zucker Goldberg Sues Wells Fargo Over Unpaid Fees

    Foreclosure law firm Zucker Goldberg & Ackerman LLC is suing Wells Fargo Bank NA during its Chapter 11 proceedings in New Jersey bankruptcy court, saying that the bank’s slow response to a court order over servicing policies worsened its financial troubles, and that it still owes it $2.5 million.

  • October 19, 2016

    8th Circ. Remands Tribes' Suit Over Paradigm Pipelines

    The Eighth Circuit on Wednesday remanded an appeal by officials for the Three Affiliated Tribes of a ruling blocking them from interfering with Paradigm Energy Partners LLC’s construction of a pair of pipelines underneath a lake on their reservation, with directions to consider whether that decision should be undone.

  • October 19, 2016

    Split 9th Circ. Says Foreclosure Not Collection Under FDCPA

    A trustee of a California mortgage deed pursuing foreclosure actions is not a “debt collector” for purposes of the Fair Debt Collection Practices Act, the Ninth Circuit said Wednesday in a published opinion that departs from previous Fourth and Sixth circuit precedents.

  • October 19, 2016

    BIA Approves Calif. Tribe's Business Leasing Regulations

    The Bureau of Indian Affairs has approved the Chemehuevi Indian Tribe of the Chemehuevi Reservation to administer its own land leasing regulations for businesses, allowing the California-based tribe to bypass formal BIA approval of land-lease deals, according to a notice set to appear in the Federal Register on Thursday.

  • October 19, 2016

    NJ Transit Gets $8M Jury Verdict On Land Value Reversed

    A New Jersey appeals court on Wednesday reversed an $8.15 million jury award to the owners of a nearly two-acre plot of land seized by New Jersey Transit Corp., ruling that the owners did not prove a proposed cul-de-sac would have received municipal approval.

  • October 19, 2016

    Banks Exaggerated Costs In Dropped FCA Suit, Judge Rules

    Sanctions requests from two banks were slashed in half Tuesday by a Michigan federal judge who found the financial institutions had overstated their legal costs in fighting a dropped False Claims Act suit.

  • October 19, 2016

    New East Harlem Zoning Plan Will Allow 35-Story Buildings

    The New York City Department of City Planning on Tuesday unveiled a draft rezoning plan for East Harlem that will allow buildings of up to 35 stories in some areas.

  • October 19, 2016

    Endurance Wants Rights Clarified In Fiserv Coverage Suit

    Endurance American Specialty Insurance Co., one of two remaining excess insurers going to trial over obligations to Fiserv Solutions Inc. in litigation tied to a $530 million Bank of America NA lawsuit over title insurance claims, asked a Wisconsin federal judge Wednesday to clarify that it can continue to dispute that Fiserv filed its claim in time.

  • October 19, 2016

    Feds, Penobscots Ask 1st Circ. To Extend Tribe's River Rights

    The federal government and the Penobscot Nation have urged the First Circuit to overturn a lower court decision limiting the tribe's reservation boundaries, saying the tribe's reservation should reach bank-to-bank within the Penobscot River in Maine.

  • October 19, 2016

    Airbnb Floats Concessions To NYC Lawmakers

    Lodging service Airbnb Inc. said Wednesday it will soon limit hosts in New York to one rented home and proposed a framework for a new law it hopes would address lawmakers' concerns that its business model is hurting the housing supply.

Expert Analysis

  • Trial Pros’ Secret To Courtroom Success

     Jamin S. Soderstrom

    Somewhat surprisingly, very few of the dozens of the "trial pros" who have been interviewed by Law360 have revealed the secret to effective trial preparation that is vital to their success. But ultimately, the “secret” to effective trial preparation is not actually a secret, says Jamin Soderstrom of Soderstrom Law PC.

  • HUD Strikes Back Against Disparate Impact: Part 1

    Robert D. Helfand

    Two years ago, multiple insurance companies challenged the U.S. Department of Housing and Urban Development's discriminatory effects rule. Robert Helfand of Carlton Fields Jorden Burt PA explains HUD's recent lengthy and aggressive rejection of the insurers' objections.

  • How NY Is Fighting Back Against 'Zombie' Properties

    Alfred W. J. Marks

    The New York Department of Financial Services recently published proposed regulations requiring holders of first lien mortgages to secure and maintain vacant residential properties. Attorneys from Day Pitney LLP explain what the new obligations mean for mortgagees and servicing agents.

  • Whose Line, Drawing Or Plan Is It Anyway?: Part 2

    Amy Goldsmith

    The most commonly used forms of owner-architect agreements are from the American Institute of Architects. The terms are generally favorable to the architect, but regardless of the form used, if the owner wants to acquire certain rights — either a license to use the instruments of service or an outright copyright assignment — they should be addressed in the agreement, say attorneys with Tarter Krinsky & Drogin LLP.

  • Taking Advantage Of DOE Efficiency And Solar Tech Funding

    Stephen Bolotin

    The U.S. Department of Energy has recently made a number of upcoming funding opportunity announcements for technologies related to building efficiency and solar energy. Stephen Bolotin of Holland & Knight LLP reviews these upcoming FOAs, and offers applicant guidance based on past experience with these programs.

  • Funding And P3s For Water Infrastructure Projects: Part 2

    Paul J. Epstein

    According to recent estimates by the U.S. Environmental Protection Agency, funding needs for water infrastructure capital improvements total more than $650 billion over the next 20 years. In the final part of this two-part series, Paul Epstein of Shearman & Sterling LLP discusses the use of public-private partnerships in the water sector to fill funding gaps and as an alternative procurement method.

  • Understanding Contractual Privity In NY Insurance Disputes

    Melissa Brill

    In New York's construction industry, contracts requiring additional insured status are a common risk transfer strategy. Both insurers and policyholders should understand that insurers are bound only by their contracts with their own insured, as New York courts have been strictly interpreting contracts according to their plan language, say Melissa Brill and Laura Dowgin of Cozen O'Connor.

  • Funding And P3s For Water Infrastructure Projects: Part 1

    Paul J. Epstein

    The overall condition of U.S. water infrastructure is poor and is worsening. Paul Epstein of Shearman & Sterling LLP outlines the key financing sources that may be tapped by water utilities, and efforts that are being made to enhance or expand these sources, including the proposed Water Resources Development Act, which Congress is expected to finalize this year.

  • OPINION: 3rd-Party Litigation Funding Needs Transparency

    Lisa A. Rickard

    The practice of third-party litigation funding, in which funders front money to plaintiffs law firms in exchange for a cut of any settlement or money judgment, is growing increasingly popular. Currently, litigators are not required to disclose the involvement of third-party funders, but transparency will improve justice in courts, say Lisa Rickard, president of the U.S. Chamber Institute for Legal Reform, and Mark Behrens, a partne... (continued)

  • DC Circ. Single-Director Ruling Clips CFPB’s Wings

    Eric J. Mogilnicki

    Although the D.C. Circuit's constitutional holding in PHH v. Consumer Financial Protection Bureau has dominated the headlines, the most significant aspects of the decision may be the way it prevents the CFPB from retroactively applying new interpretations of laws and bringing cases that involve alleged violations outside the relevant statutes of limitations, say Eric Mogilnicki and David Stein of Covington & Burling LLP.