Real Estate

  • July 21, 2014

    IBRC Gets OK For Tampa Mall Sale After Pact Ends Opposition

    Chapter 15 debtor Irish Bank Resolution Corp. got the green light to sell its interests in a Florida shopping mall for $9 million Monday as a Delaware bankruptcy judge blessed the results of a weekend settlement that sweetened the deal and defused opposition from a spurned suitor.

  • July 21, 2014

    RE Rumor Mill: West End Of London Trust, DRA Advisors, E&M

    West End of London Property Unit Trust has reportedly paid £86.5 million for a London mixed-use property, while DRA Advisors is said to have received $82 million in refinancing from JPMorgan and E&M Associates reportedly bought land under a Chelsea building for $95 million.

  • July 21, 2014

    MBIA Loses Bid For 'Key' Docs In Credit Suisse RMBS Suit

    A New York judge on Friday denied MBIA Insurance Corp.'s bid to compel Credit Suisse Securities (USA) LLC to hand over "highly relevant" documents in a lawsuit claiming the bank lied about how it processed loans for mortgage-backed securities, saying MBIA has already received enough documents to litigate its case.

  • July 21, 2014

    Calif. Appeals Court Sends Redfin RE Agents To Arbitration

    A real estate agent who brought an employment class action in California court alleging Redfin Corp. cheated agents out of pay will have to take his fight to arbitration, an appellate court ruled Monday.

  • July 21, 2014

    CBRE To Buy Miami’s Airport Corporate Center For $132M

    Two subsidiaries of Houston-based Hines Real Estate Investment Trust Inc. have reached a deal to sell the Airport Corporate Center in Miami for $132.3 million, the company revealed in filings entered Thursday with the U.S. Securities and Exchange Commission.

  • July 21, 2014

    Miami REIT Pays $19M For 85K-SF FedEx Center Downtown

    Family-owned real estate investment trust Fifteen Group has purchased an 85,000-square-foot FedEx Corp. distribution and logistics center in Miami, the REIT announced Monday.

  • July 21, 2014

    MediaMath Signs On For 106,000 Sq. Ft. At 4 WTC

    Marketing technology company MediaMath Inc. has signed a 106,000-square-foot lease at New York City's 4 World Trade Center, Silverstein Properties said Monday.

  • July 21, 2014

    REIT Carr Properties Pays $108M For DC Office Building

    Carr Properties has purchased an 11-story office building in Washington, D.C.’s central business district for $107.75 million, the D.C.-based real estate investment trust announced Friday.

  • July 21, 2014

    Ex-Taylor Bean Chair's 30-Year Fraud Sentence Upheld

    Former Taylor Bean & Whitaker Mortgage Corp. Chairman Lee Bentley Farkas on Monday lost his bid to vacate his criminal conviction and 30-year sentence for his role in a $2.9 billion fraud, with a Virginia federal judge ruling that Farkas failed to show that his trial and appellate lawyers were ineffective.

  • July 21, 2014

    Sterling Trust Faces $480M Default If Revoked, CFO Says

    Donald Sterling's family trust, which controls the Los Angeles Clippers and Sterling's real estate holdings, would default on $480 million in debt if he is allowed to revoke the agreement and halt the team's $2 billion sale, the chief financial officer for Sterling's properties testified Monday.

  • July 21, 2014

    Jones Day Guides CBS Outdoor On $690M Billboard Buy

    Billboard leasing giant CBS Outdoor Americas Inc. is buying more than 1,000 billboards from Van Wagner Communications LLC for $690 million, just days after CBS Outdoor began operating as a real estate investment trust, the companies announced Monday.

  • July 21, 2014

    Skanska Collects $90M In D.C.-Area Spec Office Sale

    Global project development and construction firm Skanska has sold a nearly 140,000-square-foot mixed-use building outside Washington that it built on spec during the downturn to Invesco Real Estate for $90 million, Skanska announced Friday.

  • July 21, 2014

    Enbridge On Hook For Mich. Oil Spill Damages, Court Says

    A Michigan federal court ruled Friday that Enbridge Energy Partners LP can be held liable for damages sought by a developer after a 2010 spill of 20,000 barrels of crude into the Kalamazoo River, clearing the way for a jury trial.

  • July 21, 2014

    House GOP Says Dodd-Frank 'Enshrines' Taxpayer Bailouts

    House Republicans on Monday said that rather than ending "too big to fail," the Dodd-Frank Act instead enshrined taxpayer bailouts of giant financial institutions in a report highlighting the financial reform law's fourth anniversary.

  • July 21, 2014

    Severstal Sells North American Steel Biz For $2.3B

    Russian steel producer OAO Severstal has agreed to sell its North American business for a combined $2.3 billion in two separate deals with Steel Dynamics Inc. and AK Steel Corp., the company said on Monday.

  • July 21, 2014

    Dealmakers Q&A: Hunton & Williams’ Carl Schwartz

    By being a good listener, you gain market intelligence, figure out what your counterparty is really trying to achieve and avoid saying something stupid, says Carl Schwartz, co-head of Hunton & Williams LLP's global real estate practice.

  • July 18, 2014

    Calif. Panel Scraps Deadline On Eminent Domain Tax Credit

    A California appeals court on Friday ruled there is no time limit on the state constitutional right to request the transfer of the tax value of a property seized under eminent domain to a replacement property, overturning a ruling against a San Diego office park.

  • July 18, 2014

    Miami Condotel Ex-Owner Sues Partner Over $17M Loan

    The largest shareholder of Miami hotel and condominium development One Bal Harbour's bankrupt former owner on Thursday sued his ex-business partner, claiming he was fraudulently induced to lend $17.45 million for the condotel that was never intended to be repaid.

  • July 18, 2014

    Insurers Spar Over $1M Defense Of Condo Defect Suit

    Interstate Fire and Casualty Co. on Thursday sued to force another insurer to reimburse it for more than $1 million it spent defending real estate developer Intergulf Development LLC in a suit over alleged defects in a San Diego condo building.

  • July 18, 2014

    Sullivan & Cromwell RE Pro Moves In-House At Post Bros.

    Philadelphia-based Post Brothers Apartments will soon have a new general counsel, as Sullivan & Cromwell LLP senior associate Ryan McCaffrey makes a unique move in-house at a company he's developed a relationship with over the last few years.

Expert Analysis

  • 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.

  • Powerful Tools For Discovery And Litigation Strategy

    Nathalie Hofman

    Analytics offer opportunities for refining both discovery strategy and overall litigation strategy by providing information to support better informed decisions. As an added bonus, they can result in significant cost savings, say Nathalie Hofman and Carolyn Southerland of Huron Consulting Group Inc.

  • Mass. Court Clarifies 'No Damage For Delay' Waiver Issues

    Scott A. McQuilkin

    A recent Massachusetts Superior Court decision makes clear that courts are unlikely to find that a "no damage for delay" clause in a construction contract has been waived unless a contractor provides evidence showing a clear and unequivocal intent, says Scott McQuilkin of Hinckley Allen & Snyder LLP.

  • PRISM Scatters Attorney-Client Privilege

    Any attorney sending or storing confidential client information or privileged communications via the cloud may be knowingly exposing those communications to scrutiny by the U.S. government via programs such as the National Security Agency’s PRISM — and arguably, even waiving any claim of privilege as a result, say attorney Thomas Mullaney and Vaultive CEO Elad Yoran.

  • Texas District Court Finds Out 'What The Hail Is Going On'

    Brett A. Wallingford

    Judge Jane Boyle of the Northern District of Texas in Hamilton Properties v. American Insurance Co. addressed issues common in hundreds — if not thousands — of pending Texas hail damage lawsuits, and took strong action in response to such suits, says Brett Wallingford of Zelle Hofmann Voelbel & Mason LLP.

  • OPINION: Let's Financially Reward Law Firm Diversity

    Patricia K. Gillette

    It only took the threat of a 10 cent cost increase to make people bring their own bags to Bay Area grocery stores. What if we gave partners an extra $10,000 for increasing diversity in their firms? asks Orrick Herrington & Sutcliffe LLP partner Patricia Gillette.

  • Crucial Predictive Coding Case Law: Progressive V. Delaney

    Emily Cobb

    Any practitioner considering predictive coding should fully consider Magistrate Judge Peggy Leen’s reasoning in Progressive Casualty Insurance v. Delaney and the potential pitfalls associated with failure to consistently cooperate, say Emily Cobb and Annamaria Enenajor of Ropes & Gray LLP.

  • OPINION: Advance Conflict Waivers Send Wrong Message

    Eric L. Lane

    If there is anything that would convince big law firms to ditch the advance conflict waiver, it is the financial bottom line. And I can assure you firms are losing new client opportunities because of these waivers, says Eric Lane of Green Patent Law.

  • Dealing With Tax Consequences Of A Construction Allowance

    Meredith P. Hartley

    The tax consequences flowing from a construction allowance are not subject to frequent negotiation. There is, however, a safe harbor for commercial tenants, says Meredith Hartley of Reed Smith LLP.