Real Estate

  • July 28, 2014

    $350M Antitrust Lawsuit Against Marriott Dismissed

    Marriott International Inc. on Monday won the dismissal of a $350 million antitrust suit brought by the bankrupt owner of a Marriott hotel on Manhattan’s Upper East Side that alleged the hotel management company forced it to take on a union in an under-the-table deal that kept its higher-profile Manhattan hotels free of labor organization.

  • July 28, 2014

    Quinn Emanuel $2.5M Fee Award Survives Calif. Appeals Court

    A California appellate panel on Monday upheld $2.5 million in cost and fee awards for Quinn Emanuel Urquhart & Sullivan LLP after the firm successfully defended itself against a malpractice claim stemming from the settlement of a real estate partnership dispute, ruling that pro se attorneys can recover fees if specifically outlined in an agreement.

  • July 28, 2014

    Developer Goes After Attys For Bungled Foreclosure Defense

    A Florida property management company on Monday sued its former counsel claiming the firm botched a foreclosure proceeding that ended in a $5.8 million judgment and drove the company into Chapter 11 protection.

  • July 28, 2014

    NY State, City Want Property Tax Discrimination Suit Axed

    Both the state and city of New York want a state judge to toss a proposed class action alleging the city's property tax system favors residential owners over renters — who are mostly black and Hispanic — saying the issue should be addressed by the legislature.

  • July 28, 2014

    Feds Won't Join Princeton Rail Station Relocation Case

    A community group determined to save a historic Princeton, New Jersey, rail station vowed Monday to keep fighting to stop Princeton University from rerouting a local commuter train route, despite the U.S. Surface Transportation Board ruling that the matter is outside its purview.

  • July 28, 2014

    Fontainebleau Lenders Say D&O Deal Will Harm BofA Suit

    A proposed bankruptcy court settlement of Fontainebleau Las Vegas casino and resort executives’ liability surrounding the failure of the $2.9 billion project came under renewed attack on Friday as mortgage lenders owed more than $700 million complained that it would impair a forthcoming lawsuit against Bank of America NA.

  • July 28, 2014

    Brooklyn Brewery Planning 200K SF Facility On Staten Island

    The Brooklyn Brewery is planning to build a new 200,000-square-foot production facility in the New York City area — potentially Staten Island — and is in line for a possible endorsement from a local economic development council that could mean access to state grants and tax incentives, a development council spokesman told Law360 Monday.

  • July 28, 2014

    Ex-Credit Suisse Trader Seeks Leniency For Mortgage Fraud

    A former Credit Suisse AG trader who pled guilty to helping the bank hide mortgage bond losses before the financial crisis has asked a New York federal judge for a sentence of time served, claiming he was acting under orders from superiors, according to a Friday court filing.

  • July 28, 2014

    NY Landowners Appeal Dismissal Of Suit Over Fracking Delay

    Landowners seeking to force Gov. Andrew Cuomo and his administration to move more quickly on regulations that could allow for an expansion of fracking in New York said Monday they have appealed an Albany judge's ruling that said they didn't have standing to bring suit.

  • July 28, 2014

    PE Shops Nab Australian, Romanian Bank Loan Portfolios

    In the latest rush to buy bank loan portfolios, Cerberus Capital Management and a consortium including private equity firms including AnaCap Financial Partners and H.I.G. Capital agreed to buy a £625 million ($1.06 billion) portfolio and a €495 million ($665 million) portfolio, respectively, of nonperforming real estate loans in two separate transactions announced Monday.

  • July 28, 2014

    Would-Be Trump Plaza Buyer To Recoup Funds In Escrow Suit

    A suit tied to the alleged mishandling of escrow funds for a collapsed deal to buy the Trump Plaza Tower East hotel in Atlantic City was settled in Florida federal court on Friday with the would-be buyer securing $920,000 from some of the defendants.

  • July 28, 2014

    Shearman, Perkins Rep Zillow In $3.5B Trulia Buy

    Online real estate listing company Zillow Inc. will drop $3.5 billion to acquire rival Trulia Inc. in a stock-for-stock deal that would create a powerhouse in online real estate listing and advertising, the companies announced Monday.

  • July 28, 2014

    RE Rumor Mill: Yodle, Thor Equities, LeFrak Org.

    Online marketing firm Yodle is reportedly establishing a new headquarters in 85,000 square feet at 330 W. 34th St., Thor Equities LLC is snapping up a $42 million Upper West Side apartment building and The LeFrak Organization has been revealed as the buyer of SL Green's 180 Broadway.

  • July 28, 2014

    Blackstone Pays Brookfield $543M For London Office Tower

    The Blackstone Group LP has acquired a London office tower from Brookfield Property Partners LP for £320 million ($543 million), Blackstone announced on Monday.

  • July 28, 2014

    Goldman Sachs In Talks To Settle FHFA Suit Over MBS Losses

    Goldman Sachs & Co. is in talks to settle a lawsuit brought by the Federal Housing Finance Agency alleging it knowingly sold billions of dollars of toxic residential mortgage-backed securities to Fannie Mae and Freddie Mac, a person familiar with the matter said on Monday.

  • July 28, 2014

    Starwood Inks Deal With Shashi For Silicon Valley Hotel

    Starwood Hotels & Resorts Worldwide Inc. is doubling down on the Silicon Valley market and its relationship with developer Shashi Corp., signing on to brand an adaptive reuse project guided by the developer, the companies announced Monday.

  • July 28, 2014

    Frasers Says $2.5B Australand Offer Is The Best It's Got

    Singapore real estate investor Frasers Centrepoint Ltd. said Monday that its AU$2.6 billion ($2.47 billion) all-cash takeover bid for Australand Property Group Ltd. is its best and final offer in the absence of a competing proposal as it moves closer to firming up the deal.

  • July 25, 2014

    6th Circ. Pushes Excess Carriers To Monitor Primary Denials

    The Sixth Circuit recently put an excess insurer on the hook for IMG Worldwide Inc.'s nearly $8 million defense bill in litigation over a failed real estate project, a decision that sends a warning to excess carriers with similar policy language to closely scrutinize primary carriers' coverage denials or else face unexpected costs.

  • July 25, 2014

    Residents’ Bid To Block New Sacramento Kings Arena Nixed

    A California state judge on Friday refused to block construction of the Sacramento Kings' new arena, saying arena opponents' arguments that the project was unconstitutional and would harm the environment were "without merit."

  • July 25, 2014

    South Fla. Real Estate Market Primed For Crowdfunding Boom

    With its booming real estate market and cash-rich but connection-poor investors, both locally and from Latin America and Europe, South Florida could become one of the hottest real estate crowdfunding markets in the coming years, experts say.

Expert Analysis

  • Affiliated Vendors Are Popular Targets For Regulators

    Richard B. Benenson

    Lawsuits against large foreclosure law firms over their involvement with affiliated vendors in Colorado are not isolated, rather they seem to be the next front in the regulatory war against the foreclosure industry — a significant development given the pervasive use of affiliates in the industry, say attorneys at Brownstein Hyatt Farber Schreck LLP.

  • The Florida Condominium Termination Trap

    Martha A. Hartley

    Just when lenders and servicers thought they had seen it all, here comes yet another problem. With literally thousands of Florida condominium units at stake, never has the mail room been so important, say Martha Hartley and Russell Buchanan of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • Litigator’s Perspective: 5 Tips On Arbitration Provisions

    Daniel T. McCloskey

    It happens all the time. When a dispute arises, two parties find themselves in arbitration, realizing that they might have had more leverage to dictate the terms of the process when they were negotiating the arbitration provision — but missed the opportunity, says Daniel McCloskey of Duane Morris LLP.

  • Property Owners Must Watch Out For Municipal Ordinances

    S. Brendan Lynch

    Considering a recent Eleventh Circuit ruling in Hillcrest Property v. Pasco County, the ability of a property owner to challenge a municipal regulation in the takings context potentially starts running immediately upon enactment of the statute, regardless of the property owner’s actions, says S. Brendan Lynch of Lowndes Drosdick Doster Kantor & Reed PA.

  • Code Trumps Contract In The 5th Circ.

    Debra McElligott

    The Fifth Circuit opinion in Goldsby v. 804 Congress suggests that even where parties agree upon foreclosure-related fees, costs and charges before a bankruptcy, Section 506(b) of the Bankruptcy Code may still trump the provisions of their contract, says Debra McElligott of Weil Gotshal & Manges LLP.

  • The Ins And Outs Of Competitor Restrictions In Leases

    Stuart Mass

    When representing a large tenant at a shopping mall or an office building, remember to consider whether there are competitor leasing and signage restrictions that are required or desired by your client. When representing a landlord, remember to “just say no,” say attorneys with Haynes and Boone LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.

  • 6th Circ. Errs In Conflating Primary With Excess Insurance

    Richard C. Mason

    The Sixth Circuit’s IMG Worldwide v. Westchester Fire Insurance Co. decision needlessly eliminates consumer choice — and promises to increase declaratory judgments by excess insurers who heretofore had not needed to preemptively involve the courts, says Richard Mason, co-chairman of Cozen O’Connor PC's professional liability insurance coverage and reinsurance practices.

  • VIDEO: Lacoste North America CEO Discusses US Market

    Anthony Lupo

    Shedding light on the lifestyle brand’s strategic initiatives in the U.S., as well as real estate law and the importance of Fifth Avenue, Lacoste North America president and CEO Francis Pierrel sat down for a video interview with Anthony Lupo, co-chairman of Arent Fox's IP practice and chairman of the firm's fashion, luxury goods and retail group.

  • Separate Classification Gone Too Far

    Scott M. Grossman

    A district court decision in CWCapital Asset Management v. Burcam Capital II may bolster the arguments of secured creditors in opposing cramdown efforts by debtors who may have been emboldened by other recent decisions supporting creative classification schemes, say Scott Grossman and Ari Newman of Greenberg Traurig LLP.