Real Estate

  • July 2, 2015

    Cushman Again Seeks To Nix Contract Claim in Sandy Fight

    Cushman & Wakefield Inc. has urged a New York federal judge to again dismiss a property owner's claim that it breached a management contract by failing to procure adequate insurance to cover the Wall Street Plaza building for damage from Superstorm Sandy, alleging the owner has changed its story and violated a prior court order.

  • July 2, 2015

    Real Estate Rumor Mill: Rockpoint, Texas Pacific, Crayton

    Rockpoint Group and Maximus Real Estate are said to be close to paying $400 million for a 298-unit San Francisco residential property, while private equity firm Texas Pacific has reportedly signed an upsized 100,000-square-foot lease renewal in New York and Crayton Advisors is said to have bought two Chicago office properties for nearly $30 million.

  • July 2, 2015

    Tribal Descendants In Land Suit Must Post Bond, Court Told

    The Lower Sioux Indian Community and 75 landowners embroiled in a land dispute with descendants of the Mdewakanton people asked a Minnesota federal judge Thursday to deny a bid to stay an order for an appellate bond, saying there's little chance the plaintiffs' appeal will succeed.

  • July 2, 2015

    Ascott REIT To Pay $163M For Times Square Hotel

    Ascott Residence Trust has ventured into the U.S. hotel market for the first time with the $163.5 million purchase of a Times Square-area hotel, as it eyes future growth in the country, according to a Thursday statement.

  • July 2, 2015

    Bryan Cave, Calif. Judge Shake DQ Bid In Foreclosure Row

    A California federal court said the plaintiffs in a dismissed foreclosure suit against several banking entities did not prove U.S. District Judge Virginia A. Phillips was biased or Bryan Cave LLP and Houser & Allison APC raised improper arguments, refusing to disqualify them Wednesday.

  • July 2, 2015

    The Top Banking Cases In The First Half Of 2015

    The first half of 2015 saw a series of major rulings go against banks and other lenders, with the U.S. Supreme Court upholding the use of statistics to bring discrimination claims and affirming the rights of borrowers to rescind their mortgages.

  • July 2, 2015

    NJ Bill Expanding P3 Project Eligibility Is On Christie's Desk

    A New Jersey law pending Gov. Chris Christie's signature after recently clearing the state Senate would permit certain government entities to enter into public-private partnerships for building and highway infrastructure projects, expanding a privilege now held solely by state and county colleges.

  • July 2, 2015

    1 Firm Handled Most Global, US Real Estate M&A In 1st Half

    One firm advised on more than $54 billion worth of global real estate sector M&As and upward of $17 billion of U.S. deals in the first half of 2015, more than any other firm in terms of U.S. and global deals, according to Dealogic data.

  • July 2, 2015

    NJ Atty Disbarred Over Loans Made From Client's Trust

    The New Jersey Supreme Court disbarred a real estate attorney on Wednesday for allegedly raiding a trust he oversaw and using those funds to make loans to himself and others, actions the court said delivered no real rewards to the trust.

  • July 2, 2015

    Atkinson Andelson Adds Fox Rothschild IP Litigator

    California firm Atkinson Andelson Loya Ruud & Romo has bolstered its commercial and complex litigation group with the addition of a Fox Rothschild LLP attorney with a specialty in intellectual property law and experience in entertainment, real estate and bankruptcy cases.

  • July 2, 2015

    The Biggest NJ Court Decisions Of 2015: Midyear Report

    The U.S. Supreme Court has already left its mark on 2015, but the New Jersey Supreme Court has issued several heavyweight opinions of its own, from allowing Gov. Chris Christie to cut more than $1 billion in pension funding to cementing potential new hurdles for discrimination and whistleblower plaintiffs. Here are seven state appellate decisions that attorneys say will have a significant impact.

  • July 2, 2015

    M&A Boom Soars To Highest First-Half Clip In 8 Years

    Coming off a robust 2014, corporations kicked up their buying spree again in the first half of 2015, led by deal-hungry health care and pharmaceutical companies and buoyed by cheap financing that has fueled the mergers and acquisitions boom to its highest level in eight years.

  • July 2, 2015

    Resort Developer Wants Bad Loan Deductions Reinstated

    The developer of a Mexican luxury resort project has asked the U.S. Tax Court to reinstate $4.6 million in bad debt deductions for loans made to a project-related trust, arguing that when a senior loan was restructured its junior loan became worthless.

  • July 2, 2015

    Gleneagles Hotel In Scotland Sold To Ennismore

    Alcoholic beverage giant Diageo PLC said on Wednesday that it has sold the iconic Gleneagles Hotel in Scotland, which was the host of last year’s Ryder Cup golf tournament, to hospitality operator Ennismore for an undisclosed amount.

  • July 2, 2015

    Skanska Inks $255M Deal To Build NY Power Plant

    Swedish construction giant Skanska AB said Thursday it has signed a $255 million contract with an electric power development and asset management company to build a new 675-megawatt, natural gas fired power plant in New York.

  • July 1, 2015

    $3.5B Bahamas Resort Gets Interim Nod For $80M DIP

    Unfinished Bahamas resort complex Baha Mar got the blessing of a Delaware bankruptcy judge Wednesday for a slate of first-day motions, including preliminary approval of an $80 million financing package, designed to carry the ambitious $3.5 billion project through its final stages.

  • July 1, 2015

    Straub Sues Stockton University Over Showboat Dispute

    As the clock ticks toward the would-be $26 million sale of shuttered Showboat Atlantic City, embattled casino buyer Glenn Straub has taken seller Stockton University to state court over confusion on whether the boardwalk property can operate as a casino.

  • July 1, 2015

    Energy Group, Tribe Seek To Vacate Mineral Leasing Rule

    An energy industry group and an Osage Nation agency told an Oklahoma federal court to set aside a Bureau of Indian Affairs final rule governing oil and gas mining on the tribe's reservation, saying the rule is arbitrary, overbroad and was created without considering costs.

  • July 1, 2015

    DOI Wants Chickasaw, Choctaw Trust Land Claims Tossed

    The federal government urged an Oklahoma federal court Tuesday to toss a complaint brought by the Chickasaw Nation and Choctaw Nation alleging the government failed in its responsibility to protect the tribes’ trust land, saying a trial wasn’t needed because the court lacked jurisdiction over the case.

  • July 1, 2015

    Goldman Sachs Can't Escape Suit Over $73M RMBS Sale

    A New York state judge on Monday kept intact most of IKB Deutsche Industriebank AG's lawsuit against Goldman Sachs Group Inc. in connection with massive losses suffered by the German lender following its purchase of $73.2 million in residential mortgage-backed securities, finding the case to be timely.

Expert Analysis

  • The CFPB's Real Message In Its 1st Administrative Appeal

    Ori Lev

    The message from the Consumer Financial Protection Bureau after its first administrative appeal is now clear — no matter what the amount of payments made for services rendered, any quid pro quo agreement in which one party receives business as a result of referring settlement service business to another party is a violation of the Real Estate Settlement Procedures Act, says K&L Gates LLP's Ori Lev, a former deputy enforcement direc... (continued)

  • Utah Appeals Court Upholds Construction Statute Of Repose

    Adam T. Mow

    Willis v. DeWitt is a substantial victory for design professionals and contractors working in Utah as it provides certainty on when contract-based claims against them can be made and means that potential plaintiffs cannot rely on their own ignorance to extend the period for bringing a claim, says Adam Mow at Jones Waldo Holbrook & McDonough PC.

  • HOA Superpriority Litigation Intensifies In Nevada

    Robin Perkins

    For the last three years, Nevada lenders and homeowners’ associations have been battling over the interpretation of Nevada’s version of the Uniform Common Interest Ownership Act, which provides a limited superpriority lien for HOAs to recover past due assessments. Senate Bill 306 — which substantially revised the statute and these new provisions — will likely diminish investor interest in the HOA foreclosure market, say attorneys a... (continued)

  • Don't Discount Disparate Impact After High Court Case

    Michael B. Mierzewski

    The implications of the U.S. Supreme Court's ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project Inc. extends beyond the primary mortgage lending and insurance industries. The ruling almost certainly will embolden private plaintiffs and government agencies to assert claims of disparate impact discrimination, say attorneys at Arnold & Porter LLP.

  • Hot Environmental Issues In Real Estate Transactions

    Susan P. Phillips

    Since its inception in the 1970s, environmental law with respect to real estate has evolved as our understanding of how contaminants impact human health and the environment has changed. Several areas are important to consider in property transfer or financing transactions, say Katy Ward and Susan Phillips of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Controversy Remains In Fla.'s Construction Defect Law

    Jeffrey S. Wertman

    The 2015 amendments to Florida’s construction defect law — while not the dramatic legislative victory sought by the construction industry — contain important refinements to the existing law, even though some of the new requirements remain controversial, says Jeffrey Wertman of Berger Singerman LLP.

  • The Top 3 New Do’s And Don’ts For Law Firm Websites

    Stephan Roussan

    In legal marketing circles, there are few topics peddled about more than “hot tips” for improving your law firm’s website. Google it. You’ll find more advice than you could ever digest. However, there are larger trends in technology, culture and user behavior that are impacting firms in very significant ways and are not being talked about nearly as much as they should be, says Stephan Roussan, founder of consulting and web developm... (continued)

  • A Lesson In Personal Liability For NY Insurance Brokers

    Sara Ward Mazzolla

    In Lido Beach Towers v. Denis A. Miller Agency Inc. the New York state appeals court affirmed a lower court’s order dismissing all claims of negligence, breach of contract and cross-claims against the individual insurance broker, demonstrating that under certain circumstances an argument based on agency principles may relieve a broker from personal liability for the alleged acts of his principal, says Sara Ward Mazzolla at Bressler... (continued)

  • It's Mid-2015 — The Repurchase Demands Continue

    Robert M. Siegel

    It is troubling, but sadly not surprising, that big bank aggregators that entered into global settlements over mortgage repurchase claims with Fannie Mae and Freddie Mac have of late been making repurchase demands upon mortgage originators. Let’s identify this practice for what it is — a shameless attempt by the aggregator to make a tidy profit, say Robert Siegel and Philip Stein of Bilzin Sumberg Baena Price & Axelrod LLP.

  • Drone Use In Fla. Real Estate: Tricky But Not Impossible

    Josias Dewey

    On July 1, 2015, a new law will become effective. The law is an attempt by the Florida Legislature to address privacy concerns raised by the use of drones. The important question, says Josias Dewey at Holland & Knight LLP, is what this law means for legitimate businesses that can benefit from drone technology, such as surveyors, construction companies and others in the real estate industry.