Real Estate

  • April 24, 2015

    Firm Wrapped Up In Partner's Malpractice Row: Ex-Client

    A name partner in Blum Collins LLP should have told an ex-client who was contemplating suing him for malpractice that he had been working for her independently, and not as part of his firm, a California appeals court heard Friday in a suit stemming from a $6 million dispute over a backyard pool.

  • April 24, 2015

    ResCap Slams Cadence Bank's Attempt To Exit Mortgage Suit

    Residential Capital LLC's liquidating trust urged a Minnesota federal judge Thursday not to dismiss its suit against Cadence Bank NA over financial harm that occurred when Cadence sold it 35,000 residential mortgages, many of which it says were toxic.

  • April 24, 2015

    Chesapeake Energy Paying $25M To End Bid-Rigging Charges

    Chesapeake Energy Corp. will pay $25 million to settle allegations that it conspired to rig bids for publicly held Michigan oil and gas leases, state officials said Friday, while federal authorities are investigating Chesapeake’s ex-CEO for possible antitrust violations.

  • April 24, 2015

    Real Estate Rumor Mill: AMLI, Anbau, Leslie J. Garfied

    AMLI Management is said to have dropped $104 million on a Florida apartment complex, Anbau Enterprises is said to have paid $39 million for a New York development site, and a Leslie J. Garfield affiliate has reportedly sold a former warehouse in New York for $40 million.

  • April 24, 2015

    Jurisdiction Is Solid In Tribal Foreclosure Row, Gov't Says

    The U.S. fought the Oglala Sioux Tribe's bid to dismiss a mortgage disclosure complaint against two leaseholders of tribal trust land, arguing Friday that the government’s purported failure to offer to transfer the mortgage to tribal entities didn't deprive the court of jurisdiction.

  • April 24, 2015

    NJ Firm, Dentons Exit Malpractice Dispute Over $41M Loan

    Mandelbaum Salsburg Lazris & Discenza PC is exiting YA Global Investments LP's malpractice suit over a $41 million loan for a failed resort, and dismissing accusations that Dentons played a substantial role in YA Global's losses, according to New Jersey federal court filings Friday.

  • April 24, 2015

    US Bank Settles Suit Over Force-Placed Flood Insurance

    A California federal judge on Thursday granted preliminary approval to a class action settlement between U.S. Bank NA, American Security Insurance Co. and plaintiffs who claim the bank charged homeowners lender-placed flood insurance rates inflated by kickbacks and policy backdating.

  • April 24, 2015

    Goodyear Pumping Up To $550M Into New Tire Plant In Mexico

    Goodyear Tire & Rubber Co. is investing as much as $550 million to build a new tire plant in Central Mexico to help meet projected continued increases in demand, the company said Friday.

  • April 24, 2015

    New Goulston Leader Says Firm Wants More NY, DC Territory

    Known as a dominant player in the Boston real estate deals market, Goulston & Storrs PC is turning its sights on becoming a more competitive player in New York and Washington, D.C., and newly appointed co-managing director Barry Green laid out the firm's growth plans for Law360.

  • April 24, 2015

    Judge Won't Rule On Redacted Docs On Izod Center Closing

    A New Jersey judge made clear Friday that he wouldn't rule on the New Jersey Sports and Exposition Authority's key justification for redacting documents related to the Izod Center's closing, in a lawmaker's suit for access to those documents.

  • April 24, 2015

    CPPIB, Global Logistic JV Sells Japan Property For $60M

    A joint venture between Global Logistic Properties Ltd. and the Canada Pension Plan Investment Board is selling a recently completed logistics property in Japan to GLP J-REIT for 7.15 billion yen ($60.1 million), the companies announced on Friday.

  • April 24, 2015

    Clear Channel Can't Recoup Billboard Losses: Texas Justices

    The Texas Supreme Court held Friday that Clear Channel Outdoor Holdings Inc. should not be compensated for billboards it lost when the state condemned the underlying land for a highway expansion, agreeing with the state of Texas that a billboard may be a fixture to be valued with the land.

  • April 24, 2015

    Texas Justices Say Student Housing Didn't Forfeit Tax Status

    The Texas Supreme Court on Friday rejected a county appraisal district's argument that the Texas Student Housing Authority owed millions of dollars in back taxes because it had used its dorms to house high school students participating in a Texas A&M University summer program.

  • April 24, 2015

    HUD Aims To Delay Foreclosures In Mortgage Sales

    The U.S. Department of Housing and Urban Development on Friday said that it would require mortgage servicers that purchase nonperforming home loans to delay foreclosure for one year and take other measures to keep people in their homes.

  • April 24, 2015

    Calif. Fast Food Mogul Charged With $20M Loan Fraud

    A federal grand jury hit a California property developer with a 21-count indictment Thursday accusing the former owner of dozens of fast food franchises of defrauding banks of more than $20 million in inflated commercial loans.

  • April 24, 2015

    TIAA Henderson Scores $607M Debt Deal

    TIAA Henderson Real Estate has scored £400 million ($607 million) in debt financing on behalf of its U.K. retail fund from a consortium led by Well Fargo & Co., TIAA Henderson announced on Friday.

  • April 24, 2015

    5 Tips For Negotiating Native American Land Leases

    While recent U.S. Department of the Interior rule changes have helped make striking a land lease involving tribal property easier, experts say these deals still come with challenges. Here, attorneys with experience on both sides of the negotiation table offer five tips for keeping a lease deal on track.

  • April 24, 2015

    Simon Joins JV For Retail Portion Of $1.05B Miami Complex

    Simon Property Group has joined Swire Properties Inc. and Whitman Family Development in a joint venture currently developing the shopping component of a $1.05 billion mixed-used Miami development, the companies announced Thursday.

  • April 24, 2015

    Calif. Landowners Sue Union Pacific Over ‘Illegal’ Land Use

    A proposed class of California landowners on Thursday alleged Union Pacific Railroad Co. has improperly used the subsurface of its railroad right-of-way to grant “illegal and unauthorized” easements and collect rents from pipeline companies, trespassing and violating their land ownership for decades.

  • April 24, 2015

    National Storage, Apigee Mark Week's Only IPOs

    Real estate investment trust National Storage Affiliates and software provider Apigee Corp. were the only two companies to go public during the week, garnering mixed reviews from investors to together draw $347 million while a life sciences company on deck to price did not take the plunge.

Expert Analysis

  • 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)

  • Understanding Landlord's Risks In Tenant Bankruptcy

    Excerpt from Lexis Practice Advisor
    Ira L. Herman

    The majority view is that a landlord is entitled to payment of rent reserved by the lease for the period after the filing of the petition and prior to rejection or assumption of the lease whether or not the debtor has vacated the property. But in many cases, a trustee will seek to avoid the rent claim, says Ira Herman of Thompson & Knight LLP.