Real Estate

  • March 27, 2015

    DOI Says Gov't Had To Sell Okla. Tribes' Timber Lands

    The U.S. Department of the Interior told a federal judge Thursday that the federal government was mandated to sell 1.3 million acres of unallotted timber lands of the Chickasaw Nation and Choctaw Nation based on the plain meaning of a 1906 federal law for disposal of tribal lands.

  • March 27, 2015

    Donald Sterling's Girlfriend Argues Gifts Are Hers To Keep

    An attorney for Donald Sterling's ex-girlfriend V. Stiviano said Friday that Stiviano could do “anything she wanted” with $2.8 million in cash, home payments and other gifts Sterling gave her, arguing during closing arguments in a California trial over the gifts that Shelly Sterling’s California Family Code claim covers only spouses.

  • March 27, 2015

    Ex-Digital Realty VP Wants Seyfarth Out Of Prejudice Suit

    A former Digital Realty Trust Inc. employee on Thursday urged a California federal judge to disqualify Seyfarth Shaw LLP from defending his former employer in his $1 million suit alleging he was fired for being gay, arguing the firm previously gave him advice pertaining to Digital Realty.

  • March 27, 2015

    Hogan Lovells Fights To Exit Taishan Drywall Litigation

    Hogan Lovells and Stanley Reuter Ross Thornton & Alford LLC, former counsel to Taishan Gypsum Co. Ltd. and its affiliates, fought Thursday to exit the multidistrict litigation over defective drywall, despite the plaintiffs arguments that the firms should stay in the litigation to answer questions about Taishan's conduct.

  • March 27, 2015

    Pa. Justices Snub Gross McGinley Bid To Ax Malpractice Row

    The Pennsylvania Supreme Court said on Friday it would not hear an appeal of a Superior Court decision reviving a $1.15 million legal malpractice complaint against Gross McGinley LaBarre & Eaton stemming from a real estate development dispute.

  • March 27, 2015

    Landowner Appeals 'Bad Faith' NJ Land Deal To High Court

    A New Jersey real estate developer has asked the U.S. Supreme Court to review its appeal of a New Jersey trial court ruling that was denied certification by the state's high court, saying it has been denied due process and $60 million in compensation for the taking of its land.

  • March 27, 2015

    Wal-Mart Plan Didn't Flout CEQA, Calif. Appeals Court Says

    A California appeals court refused Thursday to revive a citizen group's lawsuit claiming the city of Redlands violated the California Environmental Quality Act when it approved a shopping center anchored by a Wal-Mart Stores Inc. store, finding Redlands adequately considered the environmental consequences of the plan.

  • March 27, 2015

    Honigman Miller Builds Up Detroit Real Estate Team

    Honigman Miller Schwartz and Cohn LLP added to the real estate department of its Detroit, Michigan, office, hiring an ambitious attorney with a speciality in retail and some local chops.

  • March 27, 2015

    Tribe Wants Town’s Dismissal Delayed In Jurisdiction Fight

    The Ute Indian Tribe asked a Utah federal judge Thursday to delay finalizing an order dismissing the town of Myton, Utah, from a decades-long jurisdictional fight over prosecutions of tribal members, requesting he first rule on pending motions.

  • March 27, 2015

    Reid Blames 'Bunch Of Whiners' For EB-5 Favoritism Report

    Senate Minority Leader Harry Reid, D-Nev., said Friday he pushed for a faster review of certain visa applications related to a hotel and casino project, but a new report accusing Deputy Secretary of Homeland Security Alejandro Mayorkas, a former immigration agency head, of pulling strings on his behalf "came from a bunch of whiners."

  • March 27, 2015

    Texas Justices Say Banks Can Recoup Foreclosure Costs

    The Texas Supreme Court on Friday held courts can factor a future sales price and costs associated with reselling foreclosed-upon homes in determining the fair market value of the property, siding with PlainsCapital Bank in a dispute over the value of a spec house.

  • March 27, 2015

    Revel Casino Takes Another Stab At $82M Ch. 11 Sale

    Atlantic City’s defunct Revel Casino Hotel has chosen to stick with a proposed $82 million Chapter 11 sale to Florida real estate tycoon Glenn Straub, according to court papers filed Thursday in support of a deal rejected once before by the presiding bankruptcy judge.

  • March 27, 2015

    Senate Dems Seek Permanent Backing For Conservation Fund

    A group of U.S. Senate Democrats on Thursday unveiled a bill to provide long-term funding to the Land and Water Conservation Fund, a program scheduled to expire in September that uses offshore oil and gas revenues to help preserve public lands ranging from national parks to community ballfields.

  • March 27, 2015

    BIA Rejects Wis. Tribe's Casino Bid After Walker Balks

    The U.S. Bureau of Indian Affairs has officially denied a Wisconsin tribe’s request to open a casino in Kenosha after Gov. Scott Walker declined to support the proposal, according to a letter the agency published online Thursday.

  • March 27, 2015

    Growth-Minded Sanne Group Eyes $211M IPO In London

    Private equity-backed Sanne Group PLC, a growth-minded provider of outsourced corporate and fund administration services for real estate and other institutional clients, announced Friday it plans to raise £141.6 million ($210.9 million) through an initial public offering on the London Stock Exchange.

  • March 27, 2015

    Good Title Attorneys Are Hard To Come By, FNTA CEO Says

    Fueled by a strong flow of commercial mortgage-backed securities work, the fledgling but fast-growing First Nationwide Title Agency recently bulked up its legal department. But the company's president and CEO Steven M. Napolitano and senior underwriting counsel Felix Tschanz tell Law360 that experienced title attorneys can be hard to find.

  • March 27, 2015

    Blackstone Unit Strikes Landmark $230M Loan Securitization

    A Blackstone Group LP fund affiliate announced Friday that it will soon break new ground with the first multi-borrower loan securitization deal for the emerging single-family rental sector, as it is the final leg of crafting a $230 million transaction.

  • March 27, 2015

    Calif. Appeals Court Rejects Law Firm's SLAPP Defense

    In a published opinion Thursday, a California appellate court revived a legal malpractice suit against Utrecht & Lenvin LLP, finding the firm’s argument that a professional negligence claim by a former client threatens to chill its free speech rights does not hold water and should have been tossed.

  • March 27, 2015

    Real Estate Rumor Mill: KIC, MetLife, Hirschvogel

    Korea Investment Corp. is reportedly in talks for an up to 1.5 trillion won ($1.36 billion) deal to buy three luxury hotels, while MetLife and M&G Investments are said to have provided nearly £500 million ($744 million) in a London apartment complex refinancing and German auto supplier Hirschvogel Inc. is buzzed to be planning a $50 million Ohio plant expansion.

  • March 27, 2015

    MoFo Steers Self-Storage REIT Jernigan Capital’s $100M IPO

    Florida-based Jernigan Capital Inc., a real estate investment trust focused on lending to private self-storage facilities, raised $100 million in its initial public offering on Friday, joining a crop of REITs hitting the public markets in an offering guided by Morrison & Foerster LLP.

Expert Analysis

  • What Experts Can Say About Inadmissible Facts During Trial

    Jason McDonell

    For reliance material that is not admitted on the stand, consider bolstering the testimony by having the expert describe the evidence generally, but in a way that signals to the jury that the expert has a strong foundation of supporting facts and data. If done well, such testimony can open the door to admitting the evidence, say Jason McDonell and Heather Fugitt of Jones Day.

  • The Difficulties In LIHTC Loan Sales

    Mark V. Bossi

    Because there is currently a very robust market for distressed debt, a lender's first option for dealing with any nonperforming loan is often to look to sell the loan. However, the pool of potential buyers for low-income housing tax credit loans will likely consist only of strategic buyers, says Mark Bossi, co-chairman of Thompson Coburn LLP's financial restructuring group.

  • UK Competition And Markets Authority Targets Local Markets

    Alan Davis

    The U.K. Competition and Markets Authority's recent settlement with an association of estate and lettings agents, three of its members and a newspaper publisher is notable as an indication of the CMA's ambition to be more active in relation to cartel enforcement compared with its predecessor, say Matt Evans and Alan Davis of Jones Day.

  • Implied Easements And Lessons For Landowners

    Sylvia S. Arostegui

    For the first time in more than 50 years, a California appeals court effectively expanded the scope of an express written easement by granting a concurrent implied irrevocable license. Landowners simply can no longer assume that a written agreement will limit the rights of the parties if the factual circumstances would otherwise establish new or additional implied rights, says Sylvia Arostegui of Nossaman LLP.

  • High Court May Take On Corporate 5th Amendment Privilege

    Ramzi Abadou

    A festering but virtually unnoticed circuit split over a legal doctrine the U.S. Supreme Court first recognized early last century may provide the Roberts court with the opportunity to grant corporate persons privilege against self-incrimination for the first time in U.S. history, says Ramzi Abadou of Kahn Swick & Foti LLP.

  • 7th Circ. Title Policy Ruling Brings Risks For Lenders

    Sarah R. Borders

    The Seventh Circuit’s recent interpretation of Exclusion 3(a) in the standard-form construction lender’s title policy, in the context of a failed project, places the risk of loss associated with unpaid subcontractors arising from a lender’s decision to stop funding squarely on the construction lender, not the title insurer. There are, however, steps that a lender can take to mitigate this risk of loss, say Sarah Borders and Jeffrey... (continued)

  • Beware Attorney Charging Liens On California Real Property

    Jessica Bagdanov

    Charging liens are valid provisions of a fee contract in California, and such “secret” liens take effect and are perfected upon execution of the contract creating the lien. Yet in the context of a bankruptcy case, a Chapter 7 trustee plays a prominent role in the ultimate treatment of the lien with respect to property of the bankruptcy estate, says Jessica Bagdanov of Ezra Brutzkus Gubner LLP.

  • Is Your Landfill Or Other Wasting Asset Fairly Assessed?

    Ronald S. Cusano

    As an investment, a landfill is high risk due in part to the potential for extreme environmental liabilities. Conventional appraisal methods, including cost, comparable sales and even the traditional income method, do not account fully for these unique factors, says Ronald Cusano of Schnader Harrison Segal & Lewis LLP.

  • NJ Supreme Court Clarifies Expert Testimony Rule

    Timothy Freeman

    Practitioners should take note of the New Jersey Supreme Court's recent decision in Townsend v. Pierre when seeking to exclude expert testimony that is based on factual scenarios that have no support in the record, says Timothy Freeman of Sedgwick LLP.

  • OPINION: Not All That Is Public Should Be Publicized

    Adam C. Sherman

    Although court decisions are public records, that doesn’t mean they should be publicized by the courts on search engines, such as Google. Access alone isn’t the problem. The issue is that these decisions appear prominently atop search results — even when browsing parties are not looking for them. Courts have opened their doors, but they need not remove them entirely, says Adam Sherman of Vorys Sater Seymour and Pease LLP.