Real Estate

  • January 30, 2015

    Avalon Faces 2 Tenant Suits For Burned-Down NJ Luxury Apts

    Residents of a New Jersey luxury apartment building that burned to the ground earlier this month have filed proposed class action suits against the building's owner, alleging AvalonBay Communities Inc. knew the building had been constructed using dangerously flammable materials.

  • January 30, 2015

    Nelson Brown Hit With Suit Over NJ Office Lease Breach

    The Pennsylvania-based insurance boutique Nelson Brown & Co. is facing a lawsuit in New Jersey state court over allegations that it defaulted on a lease agreement for office space vacated after the departure of a group of attorneys based in Camden County.

  • January 30, 2015

    NY Appeals Court Lets TCW Duck Claim In $128M MBS Suit

    A New York appeals court upheld the dismissal of a negligent-misrepresentation claim in a $128 million suit alleging TCW Asset Management Co. lied to investors about the value of a collateralized debt obligation, ruling TCW was not in a position of trust as collateral manager for the mortgage-backed securities.

  • January 30, 2015

    Del. Real Estate Developer Charged With Fraud Found Dead

    The federal bank fraud case against Michael A. Zimmerman was canceled Friday after the noted Dover, Delaware, developer who was accused of misusing millions of dollars in Wilmington Trust Co. loans was found dead. 

  • January 30, 2015

    REIT Issues $1.45B Debt To Help Fund $3B Cole Acquisition

    Select Income REIT has priced $1.45 billion in bonds staggered over 10 years, with plans to use the proceeds to cover bridge loans and other lending that helped pay for its $3 billion acquisition of Cole Corporate Income Trust.

  • January 30, 2015

    Hard Rock Nabs Preliminary OK For Possible NJ Casino

    New Jersey gaming regulators on Thursday gave Seminole Hard Rock Entertainment Inc., the owner of the Hard Rock cafes, preliminary approval to move toward launching a casino in Atlantic City.

  • January 30, 2015

    Law Firms Beat Malpractice Suit By Coal Royalty Claimants

    Missouri law firms Carmody MacDonald PC and the Law Offices of George A. Barton PC shed a legal malpractice suit Friday after a federal judge ruled the work they did representing clients in a mineral royalties fight with coal giant Peabody Energy Corp. did not constitute malpractice at all.

  • January 30, 2015

    Ivanhoe Nets $190M In Sale Of 2 Canadian Shopping Malls

    Ivanhoe Cambridge, the real estate offshoot of Canada's biggest pension fund, notched its second deal of the week with a Friday announcement that it has sold its 50 percent stake in a pair of Ontario shopping malls to another pension manager for $190 million.

  • January 30, 2015

    5 Key Factors For Retail Tenants In Property Upgrade Talks

    As e-commerce continues to upend the brick and mortar store model, retailers are increasingly gaining the upper hand in tenant improvement negotiations, and in an attempt to land key retailers at their properties, landlords are allowing more and more of such provisions in leases. Here, Law360 looks at five considerations that may influence how much pull a tenant has when vying for tenant improvements.

  • January 30, 2015

    Keells Pushes $850M Sri Lanka Resort Despite Casino Ban

    Conglomerate John Keells PLC said Friday it would continue with a Sri Lankan waterfront project estimated at $850 million even without a casino — now that the new government is blocking such gambling venues — saying its multifaceted development retains broad appeal.

  • January 30, 2015

    HAS Capital Nabs $412M In Manufactured Housing ABS

    Real estate-focused private equity group HAS Capital LLC on Friday said that it has agreed to acquire $412 million worth of interests in certain asset-backed securities, structured financings and manufactured housing related assets from Origen Financial Inc.

  • January 30, 2015

    Georgia Real Estate Investors Cop To Rigging Auction Bids

    Two real estate investors in Georgia have pled guilty for conspiring to rig bids for properties sold at public real estate foreclosure auctions in the state, the U.S. Department of Justice announced Thursday.

  • January 30, 2015

    Electricity-Focused InfraREIT Shares Soar In Public Debut

    Shares in electric transmission-focused InfraREIT Inc. jumped nearly 30 percent above the first expected initial public offering range in the REIT’s debut on the New York Stock Exchange on Friday, opening at $27.10 per share.

  • January 30, 2015

    Norway Sovereign Fund Buys $286M London Office Building

    Norway's sovereign oil fund on Friday put down £190.6 million ($286 million) to purchase an office building in London where the Norwegian central bank's management arm is a tenant from a real estate fund of Italy's Sorgente Group.

  • January 29, 2015

    Duane Morris Partner Suspended By Fla. Bankruptcy Judge

    The Florida judge overseeing a shopping mall property’s bankruptcy suspended a Miami-based Duane Morris LLP partner for 90 days Wednesday for allegedly orchestrating a plan to fool the court into signing an “agreed order” that the opposing counsel hadn’t seen in an attempt to revive a $49 million real estate row.

  • January 29, 2015

    Reps. Introduce Bill To Make EB-5 Visa Program Permanent

    Two U.S. congressmen introduced legislation on Wednesday that would make permanent the EB-5 immigrant investor visa program, which is highly popular in the real estate development world but slated to expire this fall.

  • January 29, 2015

    REIT Pays Ohana $360M For Laguna Beach Resort

    Strategic Hotels and Resorts Inc., a hospitality real estate investment trust, on Thursday bought a Laguna Beach resort in California from Ohana Real Estate Investors LLC for $360 million.

  • January 29, 2015

    Manatt Adds Ex-Debevoise Real Estate Pro In NY

    Manatt Phelps & Phillips LLP has recruited a Debevoise & Plimpton LLP attorney with more than 20 years of real estate experience, including advising commercial lenders, pension funds and private equity firms, to bolster its New York office.

  • January 29, 2015

    Real Estate Rumor Mill: Silverstein, Oxford, GIC

    Silverstein Properties has reportedly paid more than $100 million for a New York development site, while Oxford Properties is said to have paid roughly $227 million for a Paris office property and GIC is said to be in discussions regarding future investment in Indian commercial and residential properties.

  • January 29, 2015

    Wells Fargo, Revel Creditors Near Deal Over Ch. 11 Loan

    A judge on Thursday backed a settlement slashing the former Revel Casino's property tax assessment by $400 million, but held off ruling on a $125 million financing package from Wells Fargo NA as the bank nears a deal with unsecured creditors that would resolve their objections.

Expert Analysis

  • A General Counsel's Top 10 Tips On Calif. Wage-And-Hour Law

    Francis M. Drelling

    California is a great place to live, but it can be a challenging place to do business, with one of the biggest challenges being the multitude of wage-and-hour class actions filed each day. I never had a "starter kit" when I first began my in-house practice, but I certainly wish someone had given me one, says Francis Drelling, general counsel with Specialty Restaurants Corp.

  • Weathering Winter Storm Juno With Roof Collapse Coverage

    Seth V. Jackson

    With more precipitation in the forecast after winter storm Juno hit the Northeast, the threat of snow load roof collapse claims has suddenly become very real and insureds should consider whether a collapse has occurred under their policy and if time element coverages apply, says Seth Jackson of Zelle Hofmann Voelbel & Mason LLP.

  • Key Questions When Selecting E-Discovery Vendors

    David Houlihan

    While e-discovery remains a critical pain point in litigation, the "solutions" supporting its processes continue to evolve. In order to help organizations navigate the sea of options, we conducted research with 21 organizations across e-discovery market segments to understand the factors involved in successful e-discovery investments, says David Houlihan of Blue Hill Research Inc.

  • Yes, You Can Appeal An Arbitration Award

    Joan Grafstein

    It is not possible to appeal an arbitration award to a court on the usual appellate grounds under federal or state law, but CPR, JAMS and the American Arbitration Association offer parties an optional appeal within the arbitration process based on the parties’ agreement. While these procedures have much in common, each has its own distinctive features, including the grounds for appeal, says Joan Grafstein of JAMS.

  • And Now A Word From The Panel: 2014 JPML Practice Trends

    Alan E. Rothman

    At its December session, the Judicial Panel on Multidistrict Litigation considered the second attempt by a distributor of dietary supplements to create an MDL proceeding, raising the prospect of the first Hawaii MDL proceeding in nearly 20 years. But as we gear up for the panel hearing on Thursday, let's also consider how JPML trends of 2014 compare with prior years, says Alan Rothman of Kaye Scholer LLP.

  • Caution To Landlords: Calif. Nonwaiver Clauses Revisited

    Sylvia S. Arostegui

    Historically, California landlords have taken refuge in the protections afforded by including a nonwaiver clause in their leases. And under most circumstances, courts will enforce such nonwaiver provisions. But there are exceptions that can leave landlords without the protection they expect, says Sylvia Arostegui of Nossaman LLP.

  • DOJ Can And Will Seize Proceeds Of Foreign Corruption

    Kathleen Hamann

    The U.S. Department of Justice's recent civil action against Honduran government official Mario Roberto Zelaya Rojas serves as a reminder to corporations and individuals abroad how easily even wholly foreign criminal conduct may come within the reach of U.S. law enforcement authorities, say Kathleen Hamann and David Courchaine of White & Case LLP.

  • Jesinoski Presents Lenders With Difficult Questions

    Scott A. King

    In Jesinoski v. Countrywide Home Loans Inc., the U.S. Supreme Court broadly read the Truth in Lending Act’s rescission rights and will force lenders to make difficult decisions on requests to rescind a loan made years after it was funded, say Scott King and Richard Freshwater of Thompson Hine LLP.

  • More Coverage Issues May Go To Appraisal Panels In Minn.

    Scott G. Johnson

    After the Minnesota Supreme Court's recent ruling in Cedar Bluff Townhouse Condominium Association v. American Family Mutual Insurance Co., to avoid having an appraisal panel decide issues of coverage, which are still subject to later judicial review, parties need to resolve coverage issues before submitting disputes to appraisal, says Scott Johnson of Robins Kaplan LLP.

  • 11 Ways To Reform NY's Brownfield Cleanup Program

    Lawrence P. Schnapf

    All stakeholders agree the Brownfield Cleanup Program has significantly driven the cleanup and redevelopment of contaminated properties in New York state. There is also broad consensus that the program should be extended, but with changes to better target tax credits to sites that need them most. A number of recommendations are now on the table, say co-chairmen of the New York State Bar Association's Brownfield Task Force.