Real Estate

  • September 23, 2016

    Berkeley Fights Builder Bid To Knock Down Demolition Laws

    The city of Berkeley asked a California federal judge Friday to toss a developer’s claim that a demolition fee requirement aimed at offsetting the loss of rent-controlled housing unconstitutionally restricts property rights by ballooning redevelopment costs, arguing the developer lacks standing because the city council hasn’t yet set the fee amount.

  • September 23, 2016

    Taxation With Representation: Milbank, Fenwick, Mayer Brown

    In this week’s Taxation With Representation, Eldorado Resorts snatches up Isle of Capri Casinos for $1.7 billion, a tech-focused private equity firm buys California-based Infoblox for nearly as much, and Lennar Corp. expands its Florida footprint with a $643 million deal.

  • September 23, 2016

    NJ Ruling May Widen Exposure To Excessive Jury Awards

    A recent New Jersey Supreme Court decision that judges considering motions to modify jury awards should rely on the specific facts of a case as opposed to past verdicts leaves defendants vulnerable to arbitrarily determined, and possibly excessive, damage payouts, experts say.

  • September 23, 2016

    Tribe Joins Mass. Residents' Trust Land Fight Over Casino

    The Mashpee Wampanoag Tribe received permission on Friday to step into a lawsuit in which a federal judge recently ruled in favor of a group of Massachusetts residents by holding that the U.S. Department of the Interior was wrong to take land into trust for the tribe's planned casino.

  • September 23, 2016

    3 Firms Prime IPOs Totaling $547M Led By 'Unicorn' Nutanix

    Three firms will guide initial public offerings estimated to total $547 million during the final week of September, highlighted by Silicon Valley technology startup Nutanix that would mark the second so-called unicorn to go public in 2016, plus a real estate investment trust and two biotechs.

  • September 23, 2016

    Real Estate Giants: Comcast Center, Philadelphia

    Comcast Innovation and Technology Center, a mixed-use project that includes Philadelphia’s largest-ever office lease, a Four Seasons hotel and a complex tunnel project, is approaching the finish line thanks to the work of more than half a dozen law firms.

  • September 23, 2016

    Columbia Property Sells Denver-Area Campus In $122M Deal

    Columbia Property Trust, a real estate investment trust focused on office properties, said Friday that it has sold a three-building office complex in the suburbs of Denver to investment firm Angelo Gordon & Co. in a deal worth $122 million, as part of its plan to divest non-core assets.

  • September 23, 2016

    Two Upstate NY Airports Getting Renovations Worth $120M

    The state of New York will pay for the bulk of more than $120 million worth of upgrades at two upstate airports through an initiative aimed at modernizing airports across the state, Gov. Andrew Cuomo said this week.

  • September 23, 2016

    1st Circ. Sinks 'Long War' Over Boston's Long Wharf

    A First Circuit panel on Friday sided with the federal government in the National Park Service’s denial of a Massachusetts agency’s plans to build a new restaurant development on a picturesque Boston wharf. 

  • September 23, 2016

    Rainmaker Q&A: Bilzin Sumberg's Albert Dotson

    If you plan to practice law as a career, you need to view it as a long game because the stronger your base and the stronger your network, the more you will be seen as the go-to person in business, says Albert Dotson Jr., leader of the land development and government relations practice group at Bilzin Sumberg Baena Price & Axelrod LLP.

  • September 23, 2016

    Wash. Asks Judge To Affirm Taxation In Tulalip Village

    The state of Washington and Snohomish County urged a federal judge Thursday to uphold their assessment of taxes on commercial transactions made in a Tulalip Tribes' municipality that don't involve tribe members, arguing the Tulalip have failed to show the taxes impose a direct burden on them or violate tribal sovereignty. 

  • September 23, 2016

    Shopping Center Owner Grabs $210M In Financing

    Shopping center and retail property owner Westwood Financial Corp. secured $210 million in loans to finance a 10-property retail portfolio that stretches across five states, Holliday Fenoglio Fowler LP, which arranged the loans, said in a statement on Thursday.

  • September 23, 2016

    Real Estate Rumors: Discover Senior Living, Fendi, Kisco

    A Discover Senior Living affiliate is said to have sold a project in Florida for $38 million, luxury retailer Fendi is reportedly in talks to lease 6,000 square feet in New York, and a Kisco Senior Living affiliate is said to have scored a $15.64 million loan for an expansion project in Florida.

  • September 23, 2016

    Airbnb Gains $555M In New Equity Funding

    Airbnb Inc. announced on Thursday in a Form D filing with the U.S. Securities and Exchange Commission that it has raised just over $555 million of capital in an equity deal.

  • September 22, 2016

    Ex-Cuomo Aides, Execs Charged In Corruption Dragnet

    Federal and state prosecutors accused two former aides to New York Gov. Andrew Cuomo, another state official and executives from energy and development companies of a slew of corruption charges Thursday, over claims of bribery connected to the award of hundreds of millions of dollars in state contracts.

  • September 22, 2016

    Developer Gets 9th Circ. Rehearing Of Ch. 11 Cramdown Plan

    In a tersely worded order, the Ninth Circuit said Thursday it would rehear a case after a decision by a three-judge panel that unraveled an affordable housing developer's mostly consummated Chapter 11 plan.

  • September 22, 2016

    Lawmakers Seek EB-5 Group Docs As Renewal Fight Heats Up

    Two top GOP lawmakers are seeking documents tied to a 2010 working group that examined fraud issues in the EB-5 visa program, according to a letter released Thursday, with the inquiry emerging on the same day as legislation that would temporarily extend a key part of the program.

  • September 22, 2016

    NJ Mega-Mall Bond Deal Faces Renewed Court Challenge

    A New Jersey nonprofit Wednesday filed an amended notice of appeal to block the New Jersey Sports and Exposition Authority from issuing $1.15 billion in bonds to pay for construction of the unfinished American Dream mall in the Meadowlands, arguing the agency is still failing to follow proper legal procedure.

  • September 22, 2016

    Dem. PAC Asks Fla. AG With Trump Ties To Investigate Trump

    A Democratic political action committee on Wednesday filed a complaint against The Trump Foundation with Florida Attorney General Pam Bondi, who has been accused of shady dealings with the foundation herself, in a move the group says aims to expose Donald Trump's regular bribery of officials.

  • September 22, 2016

    Shopping Center's Land Use Dispute Revived By Fla. Court

    A Florida appeals court on Wednesday partially reversed the dismissal of Realty Associates Fund IX LP’s suit against the town of Cutler Bay over an allegedly ignored provision of a local development plan, agreeing that certain building requirements are not being adhered to.

Expert Analysis

  • Overhauling Law Firm Records Departments For A New Reality

    Raymond Fashola

    As automation increases, so do business challenges that impact overall law firm operations. Records departments are facing roadblocks associated with antiquated processes, ever-changing regulatory requirements, and emerging technologies. As a result, firms are reassessing the needs of their records department staffing models, says Raymond Fashola of HBR Consulting.

  • New York Sets Uncomfortable Cybersecurity Precedent

    Brian E. Finch

    New York's recently proposed cybersecurity regulations for financial institutions are very broad and expose senior officers and board members to all manner of penalties. One can expect that other states will follow with similar regulations, says Brian Finch, co-chairman of Pillsbury Winthrop Shaw Pittman LLP's privacy practice.

  • Unclaimed Property Law: What Oil And Gas Cos. Should Know

    Carol Lynn Thompson

    States have recently stepped up enforcement of unclaimed property laws to generate additional revenue and the oil and gas industry has become an attractive target. Because unclaimed property compliance obligations can be particularly complex it is critical that companies understand the current landscape and the best ways to navigate the audit process, say attorneys at Sidley Austin LLP.

  • Whose Line, Drawing Or Plan Is It Anyway?

    Amy Goldsmith

    Before entering a negotiation, it is imperative for architects and real estate owners to understand how copyright protection intersects with architectural works. Failure to recognize boundaries may lead to litigation over whether an architect may use the plans again or whether a developer may modify the plans if the architect’s services are terminated before the project is finished, say attorneys with Tarter Krinsky & Drogin LLP.

  • Why California Teachers Will Celebrate Senate Bill 1413

    Gregory J. Korbel

    The California Legislature recently passed Senate Bill 1413, which authorizes school districts to establish programs that will help teachers and school district employees secure affordable housing. This timely bill is intended to address the potentially troubling future of California's teaching industry, say Gregory Korbel and Rosanna Moreno of Miller Morton Caillat & Nevis LLP.

  • The Future Of Dual Agency In California Real Estate

    Katie R. Jones

    Recently, the California Supreme Court heard oral arguments in Horiike v. Coldwell Banker, addressing the fiduciary responsibilities of brokerage firms acting as dual agents in real estate transactions. The court's ruling may render dual agency representation extremely difficult, due to competing ethical duties, says Katie Jones of Miller Starr Regalia.

  • Transwest Threatens Senior Mortgage Lender Protections

    Geoffrey Raicht

    The recent Arizona district court decision in the case of Transwest Resort Properties, which has been appealed to the Ninth Circuit, may dramatically undermine the senior loan structure. The issue is of high importance to any company looking to reorganize complex corporate structures, but it is especially important when structuring real estate investments that rely upon a borrower’s corporate separateness from its affiliates and su... (continued)

  • From Fapiao To Gestores: FCPA Risks In China, Latin America

    Saskia Zandieh

    A review of Foreign Corrupt Practices Act matters and corruption scandals involving China and Latin America reveals specific risks areas companies should address when tailoring their compliance programs, say Saskia Zandieh and Alice Hsieh of Miller & Chevalier Chtd.

  • Florida's Foreclosure Ruling Defies 23 Years of Precedent

    Diana B. Matson

    Florida's Fourth District recently released a decision in Ober v. Town of Lauderdale-by-the-Sea, contradicting over 20 years of established precedent by ruling that inferior liens are extinguished in a foreclosure proceeding when the final judgment is entered. This decision will create doubt regarding when junior lienholder rights are extinguished, and undermine public policy behind foreclosure sales, say Diana Matson and Joshua Le... (continued)

  • 3 Steps To Successful Judgment Enforcement

    Craig Weiner

    Judgment enforcement is typically governed by the law of the state where collection is sought, which frequently means collection efforts are controlled by an arcane body of law replete with debtor-friendly roadblocks. Fortunately, there are a number of actions a judgment creditor can take to secure satisfaction of a claim, say Craig Weiner and Michael Kolcun of Robins Kaplan LLP.