Manhattan retail deals have accelerated throughout 2013, adding $455 million in third quarter sales, real estate consultant Eastern Consolidated said in its December report.
Making its second major acquisition of the year, real estate investment trust Sunstone Hotel Investors on Monday closed a $262.5 million deal that adds the Hyatt Regency San Francisco hotel to its expanding portfolio, according to a regulatory filing.
The plan trustee for defunct Taylor Bean & Whitaker Mortgage Corp. asked a Florida bankruptcy judge on Monday to approve a settlement with the Government National Mortgage Association that would give Ginnie Mae a $610 million allowed claim for its disputed $5.2 billion claim.
Delancey Real Estate Asset Management Ltd. and Dutch pension fund APG Strategic Real Estate Pool have formed a joint venture to purchase London's Elephant & Castle Shopping Center from Key Property Investments for £80 million ($131.3 million) in cash, the companies said Tuesday.
The Federal Circuit on Tuesday upheld a trial court's decision that the U.S. government’s temporary flooding of an Arkansas state forest reserve constituted a compensable taking of property under the Fifth Amendment, after the U.S. Supreme Court declined last year to exempt such flooding from takings liability.
A former client accused Brown Sims PC and Hrbacek & Associates of fraud in Texas state court on Monday, saying a former attorney suffered a crying breakdown and wrongly coerced him to settle for not enough money a multimillion-dollar litigation over financing for a commercial real estate development.
InterContinental Hotels Group said Tuesday that it has acquired a property in Brooklyn, N.Y., that will be developed into a hotel under the company's Even Hotels brand, which launched last year and is designed to provide travelers with places to stay that encourage a healthy lifestyle when on the road.
Citing the need for a legal opinion, the Massachusetts Gaming Commission at a Tuesday hearing delayed its decision on whether the owners of the Suffolk Downs racetrack and their new joint venture partner, Mohegan Sun, can move forward with a revised $1 billion casino resort proposal.
The U.S. unit of Swedish construction company Skanska AB said Tuesday that it is selling for $95 million its lab and office property at 150 Second St. in Cambridge, Mass., located in the biotechnology and life sciences hub of Cambridge’s Kendall Square, to Alexandria Real Estate Equities Inc.
A Pennsylvania state judge on Monday postponed a trial set to begin Wednesday over who will bear the costs of a proposed $39 million upgrade for the home of the Pittsburgh Steelers, giving the parties more time to negotiate.
Officials at the Massachusetts Gaming Commission warned bidders for the state's slots parlor license that they will have to enter arbitration if the applicants don't tie up surrounding community agreements by a looming deadline later this month.
KKR has tapped a financial adviser to help find buyers for a Turkish shipping unit, while Toshiba is partnering up with a German real estate powerhouse on a new solar-power venture.
The U.S. government’s civil prosecution of Standard & Poor’s over its alleged role in the financial crisis could require at least two years of discovery and eight months of trial unless the case is narrowed significantly, the credit rating agency told a New York federal court Monday.
Clothing conglomerate PVH Corp. has renewed and expanded its lease at 501 Seventh Ave. in New York City, where its recent acquisition The Warnaco Group Inc. has its headquarters, to 223,616 square feet on nine floors, PVH announced Monday.
Xinyuan Real Estate Co. Ltd. grabbed four land parcels in China for roughly 1.3 billion renminbi ($213 million) at auction, allowing the real estate developer to build high-rise apartments in cities with rapidly growing populations, according to a Tuesday statement.
Cathay United Bank Co. Ltd. asked a Texas bankruptcy judge Monday to allow it to pursue a fraudulent transfer claim against an affiliate of TMT Group, saying the shipper is trying to hide $2.7 million in real estate from its creditors.
The former president of real estate developer Crescent Resources LLC is not the taxable owner of $2.42 million in disputed interest in the company, the U.S. Tax Court ruled Monday.
Both critics and supporters of financial reform say problems with the Financial Stability Oversight Council's construction have caused it to fall short of providing the market oversight and protection that is needed in order to prevent a future financial crisis.
An Ontario judge held Toronto attorney Javad Heydary in contempt Friday after he failed to show up in court to answer questions about millions in missing client funds, according to the Canadian law society now controlling Heydary's teetering firms and published reports.
A company that planned to open an Italian restaurant along Miami Beach's famed Lincoln Road pedestrian mall sued the owner of the expected venue in Florida state court last Tuesday seeking more than $6 million for breach of contract and related claims.
Mortgage-servicing rules are still a work in progress and will require more clarification, but the Consumer Financial Protection Bureau's recent interim final rule is a step in the right direction to assist mortgage servicers navigate the complex interplay between the various statutes, says Stan Orszula of Quarles & Brady LLP.
Since a sublease is usually subject to the master lease, subtenants should be aware of how a sublease and master lease are related and the complicated and often opposing goals of the parties to a sublease transaction. For instance, the subtenant will need to understand the legal ramifications of the master lease terminating or expiring before the term provided for in the sublease, says Randy Awdish of Pepper Hamilton LLP.
The Third Circuit recently held that plaintiffs asserting a claim under the Securities Act of 1933 do not need to plead with particularity compliance with the statute of limitations, easing the standard for measuring the limitations period in plaintiffs’ favor. However, there is a clear spilt among the circuits regarding the issue, which could trigger U.S. Supreme Court review in the future, say John Stigi and Sarah Aberg of Sheppard Mullin Richter & Hampton LLP.
Recent cases prove that a split exists between Texas’ Corpus Christi and Beaumont appeals courts and their Austin and Houston sister courts regarding the “factual basis” requirement of the Texas Certificate of Merit statute governing professional services cases. A Texas Supreme Court petition denial, however, gives some authority to the Austin appeals court's stance, says Pierre Grosdidier of Haynes and Boone LLP.
The recent district court decision in U.S. v. Countrywide Financial Corporation highlights the Financial Institution Reform, Recovery and Enforcement Act's expanding scope. Should the derivative theory of liability under FIRREA become judicially accepted, companies may well find themselves entangled in government-initiated lawsuits that once were solely within the realm of private disputes, say attorneys with Jenner & Block LLP.
The one-year delay in the Affordable Care Act’s employer health insurance mandate was welcome relief for many employers. But time is still running short, and as the implementation date for the so-called “play-or-pay” rules approaches, construction industry employers face three fundamental questions, says Brydon DeWitt of Williams Mullen.
Texas courts have taken a strict approach to applying the heightened plausibility standard for a well-pled complaint to breach of contract claims. Nonetheless, it is surprising that the court in Radenbaugh v. State Farm Lloyds was willing to throw the plaintiff’s claim out on failure to specifically allege that State Farm issued him a property insurance contract, says Amanda Ghagar of Zelle Hofmann Voelbel & Mason LLP.
The efforts of the California Legislature and governor in 2013 demonstrate a continuing commitment to expanding the state’s reliance on energy generated from renewable resources in all of their forms and, in particular, a desire to make renewable energy more accessible to the general population, says Jill Yung of Paul Hastings LLP.
Among 10 battle-proven strategies for getting your witnesses ready for trial is to role-play the cross-examiner. For instance, if you expect the cross-examiner to yell, get in the witness’ face or use scathing sarcasm, do that during practice to minimize surprises at trial, say Dawn Solowey and Lynn Kappelman of Seyfarth Shaw LLP.
A recent New York court decision in 172 Madison (NY) v. NMP-Group provides a foreclosing lender with potential new protections and resolution strategies if a borrower files for bankruptcy during a pending foreclosure. The decision also serves as a firm warning to potential borrowers and guarantors who think they can game the system by being a “bad boy,” say John Doherty and Robert Sullivan of Alston & Bird LLP.