Real Estate

  • April 27, 2015

    Sheppard Mullin Can’t Trim Claim It Shielded Client Assets

    A California judge on Monday tentatively rejected Sheppard Mullin Richter & Hampton LLP’s bid to strike allegations that it prevented four real estate investment trustees from collecting on a Sheppard Mullin client’s $8.5 million trial loss by fraudulently concealing the law firm’s own lien against that client’s assets.

  • April 27, 2015

    Bill Blocking Ariz. Tribal Casino Could Cost $1B, CBO Says

    A bill to stop construction of a $400 million Native American casino in Arizona would likely set off litigation that could cost the federal government $1 billion or more to resolve, the Congressional Budget Office said Friday.

  • April 27, 2015

    Insurer Can't Duck $2.2M Award For Hepburn Estate's Buyers

    First American Title Insurance Co. owes the new owners of the late Katharine Hepburn's summer home $2.2 million for a loss of value resulting from the presence of an easement on the property, a Connecticut appeals court ruled Monday, concluding that the owners had sufficiently alleged they suffered a direct loss.

  • April 27, 2015

    Vegas Showroom REIT Sets Terms for $185M IPO

    International Market Centers Inc., which operates showroom space for the home decor and gift industries, set terms for its initial public offering Monday, saying it would offer 11.5 million shares at a range of $12 to $14 apiece as it looks to refinance debt.

  • April 27, 2015

    Calif. Court Nixes Ex-Firm's Malpractice Arbitration Bid

    A California appellate court on Monday upheld an order denying now-defunct law firm Nordman Cormany Hair & Compton LLP's bid to compel arbitration of a trailer park’s legal malpractice suit, saying an arbitration agreement cannot be applied retroactively for legal services provided four years earlier.

  • April 27, 2015

    Andrews Kurth Scoops Ex-Gardere Trial Pro For Dallas

    Andrews Kurth LLP on Monday brought on board a former Gardere Wynne Sewell LLP litigator with a national practice that includes class action defense, general commercial litigation, and insurance coverage and bad faith lawsuits.

  • April 27, 2015

    Halliburton Urges Dismissal Of Okla. Pollution Suit Claims

    Halliburton Energy Services Inc. urged an Oklahoma federal judge Friday to nix certain property owners’ claims in a suit accusing the company of contaminating groundwater around a plant near their homes, arguing they have failed to demonstrate a legally cognizable injury.

  • April 27, 2015

    Baker & McKenzie's Malaysia Arm Guides $902M Finance Deal

    Baker & McKenzie International member firm Wong & Partners said Monday that it advised two investment banks underwriting a 3.2 billion Malaysian ringgit ($902 million) syndicated loan to support commercial development in Kuala Lumpur City Centre, seen as key to stimulating Malaysia’s economy.

  • April 27, 2015

    NJ Regulator Says Straub Can't Take Revel's Casino License

    Real estate tycoon Glenn Straub, the new owner of the shuttered Revel Casino Hotel in Atlantic City, is facing another obstacle in his bid to reopen the property after New Jersey's gaming regulator told a bankruptcy court Monday that state law prohibits his company from assuming Revel's casino license from the previous owner.

  • April 27, 2015

    BIA Says It Didn't Deprive Crow Members Of Water Rights

    The Bureau of Indian Affairs on Friday again urged a Montana federal judge to toss a potential class action accusing it of denying members of the Crow Nation a fair share of water rights on the tribe’s reservation, arguing the government didn’t take away those rights but is holding them in trust for the tribe and its members.

  • April 27, 2015

    The Rising Stars Of Real Estate

    Closing major real estate transactions earned these young lawyers their place on Law360's list of top attorneys under the age of 40.

  • April 27, 2015

    Real Estate Rumor Mill: Morgan Stanley, Apple, EPA

    Morgan Stanley is reportedly close to inking a massive 400,000 square-foot lease deal in Manhattan, while Texas is hot with rumored deal activity, with Apple Inc. buzzed to have inked a major lease deal in Austin and the U.S. Environmental Protection Agency said to be searching for new digs in Dallas.

  • April 27, 2015

    Justices Deny Review Of Fight Over Texas Land Seizure

    The U.S. Supreme Court declined Monday to take up the case of a Texas man who claims his due process rights were violated when the state seized his land without notification and he was barred from recovering it under a state tax code's statute of limitations.

  • April 27, 2015

    Insurer Can't Dodge NJ Condo Association's $1.6M Claim

    National Grange Mutual Insurance Co. must face a condominium manager's claim for nearly $1.6 million stemming from a settlement of construction defect litigation against a window installer, a New Jersey appeals court said Monday, ruling that a lower court erred in determining that the settlement wasn't reasonable.

  • April 27, 2015

    Calif. Builders Must Plan With Eye On Coast, Official Says

    If developers want to avoid permitting delays to build along California’s coastline, they shouldn’t focus just on how to reduce adverse effects a project could have on public access and coastal resources, but on how to avoid them altogether, and that requires early strategic planning, California Coastal Commission’s executive director told Law360 in a recent interview.

  • April 27, 2015

    Finder's Fee Suit For $250M Pittsburgh Tower Gets Axed

    A New York judge has dismissed claims against the 2011 purchasers of Pittsburgh's tallest skyscraper for $250 million, ruling that the real estate investment firm seeking a finder's fee from the buyers had no causal connection to the building's successful sale.

  • April 27, 2015

    Bulgari Expands Dubai Hotel Deal With Residential Project

    Luxury jeweler Bulgari SpA revealed Monday that it has broadened an existing deal to build a branded Dubai resort with local developer Meraas to also include a residential development at the Jumeirah Bay Island project.

  • April 27, 2015

    DLA Piper Guides Blackstone In Large UK Warehouse Deal

    With guidance from DLA Piper LLP, a unit of The Blackstone Group announced Monday that it has struck a deal to pick up 16 U.K. warehouses for its London portfolio company Logicor Europe Ltd. from a joint venture of funds managed by Oaktree Capital Management LP and Anglesea Capital

  • April 27, 2015

    3 Political Fights That Threaten Key Tools For Property Deals

    From New York to Washington, D.C., a trio of hot debates among lawmakers threaten to take key tax incentives and deal funding tools away from real estate developers — or at least significantly reshape the programs. Here, experts give Law360 their two cents on what they expect to see play out.

  • April 27, 2015

    UBS Unit Strikes $338M Deal For London Office

    The U.K. arm of UBS Global Asset Management has picked up a recently constructed London office and retail property in a £222.4 ($338 million) deal with a joint venture of Aberdeen Asset Management PLC and Great Portland Estates PLC, the sellers announced on Monday.

Expert Analysis

  • Pros And Cons Of Preferred Equity Investments

    David Brier

    Preferred equity investments are here to stay and will play an important role in filling the gap that may be left by traditional financing, so borrowers and lenders need to understand the pitfalls that may come with the use of preferred equity structures in real estate financing transactions, says David Brier of Blank Rome LLP.

  • Airbnb: Boon Or Bane For NYC Residential Real Estate?

    Alexander Lycoyannis

    While renting out rooms in New York through Airbnb may seem like an attractive proposition for many tenants, guests and hosts need to better inform themselves about the many potential pitfalls, legal and otherwise, says Alexander Lycoyannis Rosenberg & Estis PC.

  • NJ Borrowers Under HAMP May Pursue State Law Claims

    Wayne Streibich

    The New Jersey Appellate court recently held that the language of a Home Affordable Modification Program trial period plan or forbearance agreement may require a lender to modify the loan if a borrower complies with its terms, which qualifies the long-standing principle that a borrower does not have a right to a loan modification and a lender is not required to offer one, say attorneys from Blank Rome LLP.

  • Inside Florida's Mortgage Lender Licensing Law

    Howard Allen Cohen

    It can be hard to tell what is or is not covered by Florida's complicated mortgage licensing law. Buchanan Ingersoll & Rooney PC's Howard Allen Cohen explains the ambiguities of the law and the ways in which it intersects with the federal SAFE act.

  • Tips For Guiding Your Client Through The Mediation Process

    Raphael Lapin

    With all the tangible and intangible costs associated with litigation today, mediation is becoming more common as a means of resolving disputes. Yet attorneys trained and experienced in litigation do not always have the skills to guide their clients through a mediation process, says Raphael Lapin, an adjunct professor at the Whittier School of Law and principal of Lapin Negotiation Strategies.

  • 7 Negotiating Points In Broker Listing Agreements

    Robert E. Scher

    Most commercial real estate brokers will not object to adding language to the listing agreement requiring that the sale close before the broker has earned its commission. Further, it is in the seller’s interest to expand upon this concept so that, except for specific carveouts, no other fee, compensation or reimbursement is due to the broker unless the sale closes, says Robert Scher, chairman of Ober Kale Grimes & Shriver PC's real... (continued)

  • Bank Of New York Mellon Decision A Win For Trustees

    Andrew I. Silfen

    A New York state appellate court decision approving a settlement agreement involving a large group of certificate holders for mortgage-backed securities, for which Bank of New York Mellon serves as trustee, reinforces that a trustee’s discretionary acts should not be second-guessed provided that the trustee acted in good faith, reasonably and prudently, say attorneys with Arent Fox LLP.

  • 2 Routes To Hourly Rates For Lawyers

    Gerald G. Knapton

    If we were developing a system to determine legal fees from a clean slate, we would price our professional services according to quality, efficiency and results — tasks and team would be agreed upon. Instead, we have an hourly system that discourages tight management, can lead to padded bills and includes time for work that may not have been necessary, says Gerald Knapton of Ropers Majeski Kohn & Bentley PC.

  • 9th Circ. Comes Around On CAFA

    Sean D. Unger

    Taken together, three recent cases demonstrate the Ninth Circuit’s new fidelity to Congress’ stated intent that Class Action Fairness Act cases be heard in federal courts. However, they also confirm that, where Congress limited CAFA, the Ninth Circuit will not ignore that limitation, say attorneys at Paul Hastings LLP.

  • Why Florida's New Condo Termination Bills Are Problematic

    Mark F. Grant

    Recently filed bills regarding the termination of condominiums in Florida would discourage bulk purchasers from coming to the rescue of ailing condominiums. Although the original intention of the bills was to help minority unit owners in broken condominiums facing termination, the unintended consequences of the bills will actually hurt these owners by making terminations economically unfeasible, say Mark Grant and Raul Valero of Gr... (continued)