Real Estate

  • February 8, 2016

    Spector Gadon Escapes Overbilling Suit, Wins Payout

    A Pennsylvania state judge has put an end to claims launched by former clients of Spector Gadon & Rosen PC and awarded the firm more than $90,000, citing a lack of evidence after it was accused of overbilling for work restructuring the debt of a failed real estate project.

  • February 8, 2016

    Fla. Property Owner Asks High Court To Hear Takings Case

    A Florida apartment complex wants the U.S. Supreme Court to revive its class action challenge to a state law that allowed the government to keep the lion's share of interest on funds held by the county court during "quick-take" eminent domain proceedings.

  • February 8, 2016

    11th Circ. Finds Tax Court's Deduction Valuation Flawed

    The Eleventh Circuit agreed with the U.S. Tax Court's conclusion about the highest and best use for a piece of land donated by a real estate developer but said Friday the court shouldn't have reduced the land's value from $25.2 million to $21 million in a dispute with the IRS over a charitable deduction.

  • February 8, 2016

    Insurer Needn't Defend Impac In MBS Suits, 9th Circ. Affirms

    The Ninth Circuit on Monday affirmed Houston Casualty Co. isn’t obligated to front defense costs to Impac Mortgage Holdings Inc. in a trio of actions over its purported mishandling of mortgage-backed securities offerings, rejecting Impac’s interpretation of a covered security in its directors and officers policy.

  • February 8, 2016

    NY Group Opposing Tribal Casino Seeks To Block Amicus Bid

    A nonprofit group challenging the U.S. Department of the Interior’s decision to take land into trust for the Oneida Indian Nation of New York's casino urged the Second Circuit on Friday to reject a proposed amicus brief on behalf of the government, saying a settlement between the state and the tribe wasn’t relevant to the group’s suit.

  • February 8, 2016

    Developer Stalled Hotel Row, Lied About It, Court Told

    A pair of Middle Eastern companies accusing a developer of deceiving them into investing $12 million in a purported hotel project told a Florida federal court on Monday that the developer delayed the scheduling of his disposition and then lied about the delay.

  • February 8, 2016

    Pair Of Conn. Multifamily Properties Trade Hands For $92.5M

    Two multifamily properties in Middletown, Connecticut, that have a combined 650 units have traded hands for $92.5 million, according to an announcement on Monday from a division of Marcus & Millichap, which brokered the transactions.

  • February 8, 2016

    Ex-Variant Atty Facing Contempt Over Held Docs, Emails

    A Delaware bankruptcy judge on Friday ordered Variant's former counsel from JH Greenberg & Associates PLLC to show why he should not be held in contempt for his ongoing failure to turn over various records related to the real estate company, including 108 gigabytes of emails, despite numerous court orders.

  • February 8, 2016

    3 Firms Steer $280M NYC Office Purchase, $180M Loan

    Three law firms worked on Ruben Cos.’ purchase of an office property on Broadway in New York City from The Shubert Foundation Inc. for $280 million, a deal that included $180 million in acquisition financing from Prudential Insurance Co. of America, according to records made public in New York on Friday.

  • February 8, 2016

    Three Firms Guide $1.9B NY Skyscraper Deal

    Attorneys from Kelley Drye & Warren LLP, Pillsbury Winthrop Shaw Pittman LLP and Cadwalader Wickersham & Taft LLP helped guide the $1.9 billion sale of Manhattan's 787 Seventh Ave. to the California Public Employees’ Retirement System, a representative for Kelley Drye said.

  • February 8, 2016

    BIA Wants Out Of Tribe Member's Trust Land Lease Suit

    The Bureau of Indian Affairs urged a Nevada federal court on Friday to dismiss the agency from a suit by a member of the Washoe Tribe of Nevada and California over the lease of his trust land parcel for a housing development, arguing the claims came too late and the agency didn’t waive its sovereign immunity to suit.

  • February 8, 2016

    Deutsche Ruling Bolsters US Bank Suit, RMBS Investors Say

    BlackRock Inc. and dozens of other investors alleging that U.S. Bank National Association failed to oversee residential mortgage-backed security trusts properly have asked a New York federal court to consider a ruling denying Deutsche Bank’s bid to escape a similar suit.

  • February 8, 2016

    Broker Duped Tribe In Investment Scheme, FINRA Says

    The Financial Industry Regulatory Authority has accused a securities broker of fraudulently inducing a Native American tribe he advised into investing tens of millions of dollars into illiquid real estate trusts and other instruments, and then secretly pocketing nearly $10 million in undisclosed commissions.

  • February 8, 2016

    Iowa Appeals Court Finds No Extra Duty For Insurance Agent

    Iowa’s Court of Appeals has affirmed that State Central Insurance wasn't obligated to inform the owners of a former nursing home that the property’s sprinkler system, which caused damage when the pipes froze, had to be functional for their insurance policy to be triggered.

  • February 8, 2016

    Groupe Casino Inks $3.5B Sale Of Big C To Thailand's TCC

    French retailer Groupe Casino will trim debt by selling its stake in Thailand-listed hypermarket chain Big C Supercenter PCL for €3.1 billion ($3.5 billion) to TCC Group, a Thailand-based conglomerate with holdings in a broad range of sectors, including retail and real estate, according to a Sunday statement.

  • February 8, 2016

    Forestar Nets $130M In Texas Radisson Hotel Sale

    Forestar Group Inc. has continued overhauling its holdings with the sale of a 413-room Radisson hotel in Austin, Texas, for $130 million cash, according to the energy and real estate company's filing Monday with the U.S. Securities and Exchange Commission.

  • February 8, 2016

    Real Estate Rumors: Jamestown, Carey Watermark, Equinix

    Jamestown is close to reaching a deal to pay more than $1 billion for 49 percent stakes in two New York office properties, while REIT Carey Watermark Investors 2 has reportedly dropped $175 million on a Bellevue, Washington, Marriott hotel, and data center firm Equinix has reportedly sold 16 acres of land in California to El Camino Hospital for $23.4 million.

  • February 5, 2016

    GCs Name Best Of The Best Attorneys

    More than 60 lawyers have been recognized by corporate counsel for cracking the code of client satisfaction and standing out among their peers for at least two years straight.

  • February 5, 2016

    8 Firms Boast The Most Client-Savvy Attorneys

    The names of eight law firms were repeatedly on the lips of general counsel this year as they reported which attorneys stood out to them as the best of the best in client service.

  • February 5, 2016

    GCs Name Favorite Real Estate Attys

    More than a dozen real estate attorneys have been selected as going above and beyond their peers in helping clients come up with creative solutions to complex real estate issues, according to a recent report that gathered input from general counsel.

Expert Analysis

  • Challenging An Arbitrator Ab Initio: A Primer

    Solum, Matt.jpg

    Where a perceived conflict is identified early in the process, a party may consider asking the forum overseeing an arbitration to determine whether it is appropriate for an arbitrator to serve on the panel. Despite the potential opacity of these kinds of decisions, discussions with practitioners and experience suggest that such challenges can arise from a number of situations, says Kirkland & Ellis LLP partner Matthew Solum.

  • Positive Developments For Affordable Housing In Calif.

    David P. Cohen

    In recent decades, California has built new housing at a slower rate than the rest of the country, but housing costs have grown faster than in the rest of the country. The lack of affordable housing has reached crisis levels — but recent developments have painted a brighter picture for affordable housing, say attorneys at Katten Muchin Rosenman LLP.

  • New FIRPTA Changes Are No Panacea

    H. Neal Sandford

    The new exemptions to the Foreign Investment in Real Property Tax Act will be helpful in certain circumstances and should encourage the flow of certain non-U.S. capital into U.S. real estate, but we doubt the changes will fundamentally alter how non-U.S. capital is invested in U.S. real estate, say attorneys with Goodwin Procter LLP.

  • Putting Fee-Shifting Agreements Inside Arbitration Clauses

    Justin J. Wolosz

    The Massachusetts Supreme Judicial Court decision in Beacon Towers Condominium Trust v. Alex provides a lesson to practitioners in Massachusetts that when drafting contracts with arbitration clauses, any agreement to shift fees should be explicit and contained within the arbitration agreement itself, say Justin Wolosz and Jesse Siegel at Choate Hall & Stewart LLP.

  • Oklahoma Quakes Trigger Legal Concerns For Energy Cos.

    Daniel M. McClure

    With more than 70 earthquakes shaking Oklahoma since the start of the year, seismicity is staged to remain a focus for the energy industry in 2016. Earthquake litigation appears to be trending up, and a variety of patterns are becoming apparent to ensure that seismic risk mitigation investments are efficiently targeted at a time when the energy industry faces tightening financial pressures, say attorneys at Norton Rose Fulbright.

  • 5 Things To Know About Chicago's Affordable Housing Regs

    Doorhy_Shawn_faegre baker.jpg

    Recent amendments to Chicago’s Affordable Requirements Ordinance have shifted the calculus for multifamily developers in Chicago who need zoning changes to accomplish development projects, especially with pending litigation that could entirely invalidate portions of the ordinance, say Shawn Doorhy and Emma Olson at Faegre Baker Daniels.

  • How To Prepare A Premises Liability Case

    Douglas J. McCarron

    Premises liability cases require evidence that a dangerous condition existed. Extensive knowledge of the property's policies and procedures and whether the employees are following them is the first step in proving whether or not the property owners and managers are fulfilling their duty to maintain a reasonably safe property, says Douglas McCarron at Haggard Law Firm PA.

  • Dealing With Expired Rights-Of-Way In Indian Country

    Catherine F. Munson

    While recent revisions to the Bureau of Indian Affairs’ regulations governing the granting of new rights-of-way across Native American lands have garnered significant attention, it is critically important that tribal landowners and their legal counsel keep a sharp eye on existing rights-of-way as well, say Catherine Munson and Mark Reeves at Kilpatrick Townsend & Stockton LLP.

  • Retailers May Have To Start Accounting For Their Leases

    Steven R. Schneider

    Rules governing the way leases are accounted for on balance sheets are expected to change in the first quarter of 2016 with major implications for retailer tenants and longer term implications for landlords, say Steven Schneider and David Lewis at Goulston & Storrs PC.

  • A Devastating Blow To Disclosure Settlements

    Kevin P. Muck

    The Delaware Chancery Court's opinion in Trulia Stockholder Litigation fundamentally alters the business model employed by the plaintiffs bar by increasing the risks and expenses of M&A litigation. With disclosure settlements no longer an option, "mootness dismissal" provides the only realistic option for a negotiated resolution of class claims, say Kevin Muck and Dean Kristy of Fenwick & West LLP.