Five Mile Capital Real Estate Advisors LLC and Apollo Investment Corp., special servicer and equity holder in the Innkeepers USA Trust bankruptcy, reached an agreement with the trustee Friday to allow Five Mile's $83.9 million claim against Innkeepers parent company Grand Prix Holdings LLC.
A former employee of defunct general contractor Krahl Construction copped to one count of mail fraud Monday in Illinois for her role in an alleged sham billing and kickback scheme that the government says cost two Krahl clients roughly $10 million.
Covington & Burling LLP plans to open a Seoul office in light of the U.S.-Korea Free Trade Agreement and has tapped a veteran Korean litigator to lead the expansion, the firm announced Monday.
Banks participating in the $25 billion mortgage settlement will face heightened public scrutiny of their efforts to help homeowners and the threat of future financial penalties, according to court documents filed Monday, more than a month after the deal was announced to great fanfare.
A judge on Friday refused to return Federal Home Loan Bank of Boston’s suit against several banks and ratings agencies over $5.9 billion in mortgage-backed securities to Massachusetts state court, saying the bank’s own federal charter puts the suit squarely in federal court.
A Dubai sovereign wealth fund is looking to sell the iconic Jumeirah Essex House hotel in New York and could get more than $500 million for the property because of the increasingly strong hotel market in the city, a senior real estate attorney said Monday.
Cornerstone Real Estate Advisers LLC has closed its eighth private equity fund at $546 million to target properties serving the fast-growing technology, energy and health sectors, the firm announced Monday.
Charter National Bank and Trust on Friday sued the federal bank regulators that shut it down last month, claiming they forced it to book erroneous accounting entries regarding its real estate holdings that made it appear the suburban Chicago bank was critically undercapitalized.
A Nevada bankruptcy judge on Friday approved the Hooters Casino Hotel owners' first amended Chapter 11 plan and disclosure statement, after he greenlighted the $60 million sale of the property at a February auction.
A California appeals court on Friday declined to reconsider its decision affirming that the city of Selma’s approval of a 160-unit housing development violated the California Environmental Quality Act because it overlooked the impacts on groundwater.
Brier Creek Corporate Center Associates LP and other affiliates that own the land beneath several American Asset Corp. planned community projects and developments in North Carolina filed for bankruptcy protection Friday.
An Illinois appeals court on Friday rejected as time-barred a former Katten Muchin & Zavis attorney's bid to add a spoliation claim to her suit against Tishman Speyer Properties Inc., which alleges she was sickened by mold in a Katten office owned by Tishman.
Bank of America Corp. has agreed to steeper principal reductions for troubled homeowners than were originally in the landmark $25 billion settlement with the nation's five largest mortgage servicers, which could see the bank avoid as much as $850 million in penalties, a bank representative confirmed Friday.
Canadian property developer Onni Group of Cos. is finalizing plans for a $100 million mixed-use high-rise in downtown Los Angeles, Onni Vice President Chris Evans said Friday.
Developer PulteGroup Inc. has set a late April opening for offering homes for sale in a master planned community, the developer said Friday, as it looks to corner what some call the increasingly healthy residential community market in one of Chicago's most affluent suburbs.
In yet another sign of Manhattan's strengthening condominium building market, a 10,888-square-foot duplex at the Ritz-Carlton Hotel was put up for sale on Friday with a hefty $77.5 million price tag.
The billable hour is the single biggest issue in our practice. Given the vast differences in the type of work we perform and the competitive landscape in which we work, determining the value of your work product based solely on how long it took a particular attorney to complete a task is not the most efficient means to provide the level of service clients require, says Michael Fishman, co-chairman of Greenberg Traurig LLP's Chicago real estate practice.
HSBC Mortgage Corp. on Wednesday became the latest big-name lender hit with a putative class action claiming the company imposed expensive force-placed insurance on homeowners.
Ohio-based law firm Vorys Sater Seymour and Pease LLP has added a real estate partner from McDonald Hopkins LLC in Cleveland and a bankruptcy partner from Squire Sanders & Dempsey LLP in Cincinnati, Vorys announced Thursday.
LaSalle Hotel Properties has purchased the 335-room Hotel Palomar in Washington for $143.8 million from an equity fund affiliated with Kimpton Hotel and Restaurant Group LLC, the buyer said Friday.