First Potomac Realty Trust has entered into two separate deals to sell a 24-property industrial portfolio in the Washington, D.C., area for a total of $259 million, mostly to a Blackstone Real Estate Partners VII LP affiliate, the company announced Monday.
A New York state judge said Monday that she alone, and not a jury, will decide if Bank of America Corp. can go through with a $8.5 billion mortgage-backed securities settlement, finding that the process used doesn't require a jury.
A bankrupt real estate developer that planned to turn Wayne Newton’s Las Vegas mansion into a Graceland-style museum filed a Chapter 11 reorganization plan Friday which would pay all of its creditors in full, following an April settlement of litigation with the singer.
Executives at Freeport-McMoRan have hinted that they are revisiting their $6.9 billion bid for Plains Exploration after the target company's shareholders have been slow to support the landmark buyout, while Billabong continues to bleed value as negotiations with prospective buyers drag on.
A New Jersey judge on Friday ended PokerStars’ campaign to buy an Atlantic City casino, refusing to cement a temporary injunction preventing the casino’s owners from terminating the deal and declining to invalidate a contract written with terms unlike any the judge said he’d ever seen.
Latham & Watkins LLP didn't break the law when it refused to pay a portion of a $10.3 million judgment won by one of its clients in a real estate lawsuit to an auditor who testified at a deposition, since the auditor was a witness, not an expert, a California appeals court ruled Friday.
Two recent court decisions clarify that New York property owners are responsible for crane safety, making projects in the state more costly and and building owners more open to liability, attorneys say.
The Florida Supreme Court on Thursday affirmed a lower court's decision that Palm Bay, Fla., could not give its municipal code enforcement liens a superpriority status over a mortgage held by Wells Fargo Bank NA because it conflicts with state law.
South Korea-based real estate investor Mirae Asset Global Investments Co. Ltd. entered the Chicago market Thursday with the $218 million purchase of 225 W. Wacker St., broker Jones Lang LaSalle Inc. said in a statement.
An Illinois woman suing real estate mogul Donald Trump's companies told a federal jury Friday that the revenue-sharing deal she alleges was unfairly pulled from hotel condominium buyers in Trump's luxury Chicago tower was an important factor in her decision to buy two units.
The New Jersey Sports and Exposition Authority on Friday gave key approvals for developer Triple Five Group Ltd.'s $3 billion American Dream amusement park project, though the action could reignite legal efforts by the New York Jets LLC and New York Football Giants Inc. to block the plans.
First American Title Co. was hit with a proposed class action in Texas on Friday that claims it overcharged homeowners for mortgage fees even though it knew the exact amounts to be paid to counties.
Hedge funder Philip Falcone and two other executives involved in a Vietnam resort developer were hit by a lawsuit Thursday in New York state court over claims they forced out the development company's CEO through a wrongful administrative leave.
MDM Development Group has purchased land from the developer of the proposed Miami World Center on which it plans to build a convention center and massive Marriott hotel, a potential billion-dollar project the developer promises will “help shape the city's future.”
A real estate-focused law firm can continue representing a developer in a dispute over a stalled Manhattan residential tower planned above a synagogue, a New York state judge ruled Friday, finding that any potential conflicts were too speculative.
U.S. District Judge Jed S. Rakoff on Friday vacated an earlier decision dismissing Dexia NV/SA's suit accusing JPMorgan Chase Bank NA of selling defective residential mortgage-backed securities, saying that a New York state court should handle the Belgian bank's $774 million claim.
SunTrust Banks Inc. on Friday won its bid to thwart a Financial Industry Regulatory Authority arbitration proceeding against it by Connecticut hedge fund Turnberry Capital Management LP in a dispute over soured mortgage-backed securities when a New York federal judge ruled Turnberry was not a SunTrust unit’s customer.
A Pennsylvania state lawmaker introduced legislation on Thursday designed to ensure that deductions taken out of royalty checks issued to landowners who lease their properties to gas drillers are clearly broken down.
Online retail giant Amazon.com Inc. and Florida's Department of Revenue have failed to reach an agreement on what Amazon's sales tax collection in the state should be if it builds a warehouse facility there, state officials confirmed Friday.
A Nevada appeals court refused Wednesday to allow one of Australia's largest gambling companies off the hook in litigation related to the failed $2.9 million Fontainebleau casino project in Las Vegas, forcing the company to battle lenders who say it is partially to blame.
The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.
Although there are benefits to “going green” in the construction, development and operation of buildings, there are also risks unique to green building that will test the boundaries of coverage under typical liability insurance policies, say attorneys with Sedgwick LLP.
The Fourth Circuit recently issued a ruling in PCS Nitrogen Inc. v. Ashley II of Charleston that may limit the availability of the bona fide prospective purchaser defense. By narrowly construing one of the elements of the BFPP defense, the court has underscored the importance of strict compliance with all requirements of the defense, say attorneys with K&L Gates LLP.
Public-private partnerships have been used in a wide range of sectors to provide public services, from power plants and railroads to hospitals and sanitation plants. Yet there are a variety of potential contractual arrangements and the financing of a PPP can be complex, say Maryam Khosharay and Herbert Glaser of Haynes and Boone LLP.
A new Florida law will effectively permit business entities providing professional services to limit by contract the liability of their individual employees or agents. Attorneys with design professional clients — including architects, interior designers, landscape architects, engineers, surveyors and geologists — should expect requests for limitation of liability provisions in such contracts beginning July 1, 2013, say Keith Ramsey and Monte Starr of Holland & Knight LLP.
Many lawyers are asking whether placing electronically stored information in the cloud could inadvertently waive the attorney-client privilege and whether the government or a civil litigant could obtain ESI directly from a cloud service provider. In answering these questions, there are a number of aspects of the cloud worth considering, say Timothy Broas and Matthew Saxon of Winston & Strawn LLP.
In addressing trends in the current commercial leasing market, several patterns are apparent. For one, many property owners that have been able to survive foreclosure now face the specter of refinancing their property in the mixing bowl of loss of market value, lenders requiring a lower loan-to-value ratio, and reduced cash flow from the property, says Barry Katz of Arnstein & Lehr LLP.
Not every company can be the next Facebook. But thankfully, for many startups, generating one billion users is not the end goal, nor should it be. Enter “narrowcasting” — one of a few reasons to be optimistic about venture capital, despite the first quarter of 2013 being the slowest for fundraising since 2002, says David Kaufman of Thompson Coburn LLP.
Recently, the D.C. Circuit surprisingly overturned a decision that invalidated the U. S. Environmental Protection Agency’s attempt to veto a Clean Water Act “dredge and fill” permit, putting several construction projects under threat of losing permit authorization. Although the case specifically refers to a coal mining operation in West Virginia, it has serious implications beyond the coal industry and state, say attorneys with Dinsmore & Shohl LLP.
Data centers house the computer servers and equipment that allow you to use your computer at work and stream a movie through Netflix, 24 hours a day, seven days a week. With demand continuing to grow for the foreseeable future, this is one of the hottest, but least understood, real property types, says Michael Rechtin of Quarles & Brady LLP.