Real Estate

  • October 26, 2016

    US Attorney Starts Probe Of Brixmor Accounting Issues

    Prosecutors in the office of Manhattan U.S. Attorney Preet Bharara have launched an investigation into Brixmor Property Group Inc., which acknowledged earlier this year that it had cooked the books, according to a filing Brixmor made Monday with the U.S. Securities and Exchange Commission.

  • October 26, 2016

    Casino Backers, Dickinson Wright To Settle Malpractice Suit

    Four developers of an Oklahoma tribal casino and Dickinson Wright PLLC told the Seventh Circuit on Tuesday that they had reached an agreement in principle to settle the developers’ malpractice suit claiming the firm provided bad advice regarding federal regulatory approvals to build the casino project.

  • October 26, 2016

    Low-Income Housing Loan Lock-In Sparks New Suit

    Companies holding U.S. Department of Agriculture loans for low- and moderate-income housing sued the government in the U.S. Court of Federal Claims on Tuesday, alleging legislation rescinding their ability to prepay the loans, and to escape the affordable housing obligations, breached their contracts.

  • October 26, 2016

    Lender’s OK On Modification Backs Cert., Homeowner Says

    A homeowner asked a Pennsylvania federal judge to reconsider his rejection of class certification in a suit alleging a defunct Morgan Stanley unit failed to make a homeowner’s loan modification permanent despite acknowledging that he had complied with the program’s requirements, saying the judge interpreted his contract improperly.

  • October 26, 2016

    Fried Frank Reps Swig-Himmel JV On $200M Loan From Citi

    Fried Frank Harris Shriver & Jacobson LLP represented Himmel + Meringoff Properties and The Swig Co. LLC in connection with their joint venture’s $200 million loan from Citigroup for a New York office and retail property leased to Foot Locker and WeWork, according to an announcement from the firm on Wednesday.

  • October 26, 2016

    Fla. Court Won't Revive Suit Fighting $400M Miami Project

    A Florida appeals court refused Wednesday to revive a suit by Miami residents fighting a $400 million mixed-use development, ruling the residents did not show that they would suffer a special injury that gives them standing to sue.

  • October 26, 2016

    Real Estate Rumors: HFZ Capital, Stiles, ABS Partners

    HFZ Capital is reportedly in late-stage talks for $1.2 billion in financing for a project that includes hotel and retail components, Stiles is said to have paid $13.1 million for a Florida Bank of America drive-through, and an ABS Partners venture has reportedly paid $17 million for a New York medical office building.

  • October 26, 2016

    Philly Urges Judge To Award $2M Over Site Contamination

    The city of Philadelphia urged a Pennsylvania state judge during a hearing Wednesday to order a waste disposal firm to pay $2 million to remediate environmental problems left lingering at a site it had leased from the city.

  • October 26, 2016

    REIT Merlin Properties Issues $873M Worth Of Bonds

    Merlin Properties Socimi SA has issued €800 million ($872.6 million) worth of 10-year bonds and plans to use the proceeds to pay off existing debt, according to an announcement on Tuesday from the Spanish real estate investment trust.

  • October 26, 2016

    Hersha Hospitality Trust Drops $75M On California Marriott

    Hersha Hospitality Trust has bought a San Francisco Bay Area Courtyard by Marriott hotel for $75 million and has reached an agreement to buy a separate property in Santa Monica, according to an announcement on Tuesday from the Philadelphia-based real estate investment trust.

  • October 26, 2016

    Top Homesafe Mortgage Fraud Salesman Gets 1 Year In Prison

    A New York City man with a long criminal record was sentenced to a year and a day in federal prison on Wednesday for his role as a top salesman in the Homesafe mortgage modification fraud, which was shut down after borrowers filed suit in Nassau County in 2011.

  • October 25, 2016

    King & Spalding's $4.6M Deal In Condo Suit Gets Final OK

    A California federal judge on Monday gave final approval to King & Spalding LLP's $4.6 million deal to resolve investors' claims that the firm forced them into a shoddy settlement in an earlier condominium contract suit, ruling the payout is a worthy resolution to five years of malpractice litigation.

  • October 25, 2016

    Trump University Takes Fight With AG To NY High Court

    The defunct Trump University has asked New York’s highest court to undo a decision reviving state Attorney General Eric T. Schneiderman’s suit alleging the school defrauded customers out of $40 million, saying the state appeals court had done some legal acrobatics to reach its conclusions.

  • October 25, 2016

    9th Circ. Urged To Rethink Hovercraft Ban On Non-Fed. Land

    An Alaska moose hunter urged the Ninth Circuit on Tuesday to prohibit the National Park Service from applying federal laws that would ban hovercrafts on non-federal lands inside the state's national parks, after the U.S. Supreme Court ruled in March that the appellate court’s prior ruling in the case had misinterpreted a federal conservation law.

  • October 25, 2016

    DR Horton Must Pay $16.3M To Bankrupt Fla. Community

    In a case a Florida federal judge described as a modern-day David-and-Goliath story, a bankruptcy trustee for a low- to middle-income homeowners association has won a $16.3 million decision against leading homebuilder D.R. Horton Inc. for violations of Florida's Deceptive and Unfair Trade Practices Act.

  • October 25, 2016

    Yelp Can Use 'We Know Just The Place' Slogan, Judge Says

    A federal judge on Tuesday refused to bar Yelp from using the slogan “We Know Just the Place,” ruling the review site likely hadn’t infringed the trademark rights of a property management firm that uses the same tagline.

  • October 25, 2016

    Morgan Stanley RMBS Suit Should Be Revived, Investors Say

    An investor suit alleging Morgan Stanley hid $340 million worth of residential mortgage-backed securities it sold that were faulty should be revived and remanded to a different judge than the one who “repeatedly disparaged” the firms behind the suit, the investors told a New York state appeals court Tuesday.

  • October 25, 2016

    Baker Botts Guides EQT In 3 Deals Totaling $683M

    Energy outfit EQT Corp. said Tuesday that it has reached three related deals for a total price of $683 million that will increase its holdings in the Marcellus Shale by 59,600 acres, with guidance from Baker Botts LLP on all three deals.

  • October 25, 2016

    GSA Watchdog Slams Fla. Courthouse Makeover Plans

    A government watchdog on Tuesday said the U.S. General Services Administration’s decisions to vacate and renovate a Florida federal courthouse due to purportedly widespread mold contamination and water intrusion were flawed, arguing a new courthouse would be cheaper than renovating.

  • October 25, 2016

    Feds Win Pause In Ex-Cuomo Aide Corruption Case

    A Manhattan federal judge has allowed a 30-day extension in the bribery and corruption case against eight individuals — including a former aide to New York Gov. Andrew Cuomo — as both sides discuss potential outcomes of the case.

Expert Analysis

  • Setting A Standard For Additional Enviro Review In Calif.

    Cynthia L. Burch

    The California Supreme Court's decision in Friends of the College of San Mateo Gardens v. San Mateo County Community College resolved the question of who decides whether the subsequent review provisions of the California Environmental Quality Act apply. The ruling recognizes that restarting the environmental review process with every changed circumstance is onerous and wasteful, say attorneys at Katten Muchin Rosenman LLP.

  • When Your Client Is The President

    Peter J. Wallison

    I was given immediate responsibility for responding to the Iran-Contra crisis. My problem as a lawyer was what to do about all the requests for files, documents and other information that were coming in from investigators. Ultimately, it came down to this: What do I believe about my client? says Peter Wallison, who served as White House counsel for President Ronald Reagan.

  • A Look At Federal Preemption Of State Drone Laws

    Andrew Zimmitti

    It may be only months before we see litigation challenging restrictive state and local drone laws that encroach upon the Federal Aviation Administration’s regulatory mandate. Industries including utilities, real estate, retail delivery and entertainment/media are likely to be among the first to pursue litigation, says Andrew Zimmitti of Manatt Phelps & Phillips LLP.

  • When Your Client Is The President

    Fred F. Fielding

    The experience of preparing for the 1981 air traffic controller strike brought home to me the responsibility a lawyer owes to his or her client — be it an average citizen, a corporation or a president, says Morgan Lewis & Bockius LLP partner Fred Fielding, who served as White House counsel for Presidents Ronald Reagan and George W. Bush.

  • Bridging The Gap Between Outside And Inside Counsel

    Andrew S. Chamberlin

    Results from a recent International Association of Defense Counsel survey reveal a significant disconnect between inside and outside lawyers when it comes to perceptions of their own effectiveness versus the perceptions of their counterparts on the other side of the fence, say Andrew Chamberlin, a partner at Ellis & Winters LLP, and Orlyn Lockard, associate general counsel at Siemens Corp.

  • Using Audits To Safeguard Law Firm Trust Accounts

    Steven Klein

    Once a client trust account is created, attorneys may have a professional fiduciary responsibility that extends beyond the normal scope of their legal expertise. And there are times when having direct access to such large dollar amounts proves too tempting, says Steven Klein of Miami-based accounting firm Gerson Preston Klein Lips Eisenberg Gelber.

  • When Your Client Is The President

    William E. Casselman II

    My experience with the Nixon pardon, the Nixon tapes, the construction of the White House swimming pool, and other matters well out of the ordinary for a president’s lawyer taught me that in the practice of law one should learn to expect and cope with the unexpected, says William Casselman, who served as White House counsel for President Gerald Ford.

  • So You Want To Be A Partner? You Need A Mentor

    Rebecca Glatzer

    Not all aspects of the partnership process are within an attorney’s power. However, there are some factors that an associate can control on the path to partnership, the most important of which are the relationships cultivated along the way, says Rebecca Glatzer of Major Lindsey & Africa.

  • 'Production Sharing Agreement' Wells: Pros And Cons

    Andrew Zeve

    Production sharing agreement wells and allocation wells present workable alternatives to pooling the tracts needed to drill a horizontal well, but are not without risk, and will often create additional issues that should be considered in planning for the future development of an oil or gas operator’s underlying leasehold position, say Andrew Zeve, Austin Lee and Jonathan Seliger of Bracewell LLP.

  • HUD Strikes Back Against Disparate Impact: Part 2

    Robert D. Helfand

    The U.S. Department of Housing and Urban Development has recently responded to objections to its discriminatory effects rule. However, HUD's response places impractical burdens on insurers, and will likely be challenged in the near future, says Robert Helfand of Carlton Fields Jorden Burt PA.