Commercial

  • September 03, 2024

    Ga. Minor Says Hotel Knew About Trafficking But Didn't Help

    An Atlanta-based hotel and its management company were hit with a lawsuit in Georgia federal court for allegedly doing nothing to stop the sex trafficking of a 17-year-old girl despite managers' and hotel employees' knowledge of the situation.

  • September 03, 2024

    Colo. AG Says Tenants Can Sue Blackstone Over Lease Terms

    Colorado Attorney General Phil Weiser urged the state's Supreme Court on Friday to find that tenants can sue a group of Blackstone subsidiaries for deceptive trade practices over lease agreements that allegedly misrepresent the rights of tenants.

  • September 03, 2024

    IRS Should Be Bound By $2M Bankruptcy Deal, Justices Told

    An Alabama real estate developer who sought bankruptcy protection and agreed to settle his tax debts for $2 million asked the U.S. Supreme Court to review a decision allowing the IRS to demand additional taxes from him, saying the agency shouldn't be allowed to back out of the deal.

  • September 03, 2024

    Former Partner Of Bankrupt NC Firm Settles With Trustee

    A former member of bankrupt North Carolina-based real estate law firm Washburn Law PLLC, which is being investigated by the FBI for millions of dollars in pilfered client money, has reached a settlement agreement with a court-appointed bankruptcy trustee.

  • September 03, 2024

    NYC Real Estate Week In Review

    Hunton Andrews Kurth and Lazar Grunsfeld are among the law firms that steered the largest New York City real estate deals that hit records last week, a slow period that saw only four deals north of $20 million become public.

  • September 03, 2024

    Gibson Dunn Guides $300M Industrial Sale-Leaseback Fund

    Faropoint started an industrial sale-leaseback fund that aims to raise $300 million and has raised $170 million during its initial August close, the real estate investment manager, which is being advised by Gibson Dunn & Crutcher LLP, said Tuesday.

  • August 30, 2024

    Partnership Can't Save Premature Tax Court Appeal, Feds Say

    The IRS is urging the Eleventh Circuit to throw out a Tax Court appeal that a partnership formed by two former Atlanta Braves players filed over a slashed $47.6 million conservation easement deduction, since the appeal was improperly filed before a final decision was entered.

  • August 30, 2024

    Property Plays: Sixth Street, Citadel, 49ers

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • August 30, 2024

    Chapter 11 Check In: WeWork Trims $4B Debt Load

    Coworking space provider WeWork exited bankruptcy in May after getting approval for a Chapter 11 plan that erases $4 billion in debt, overcoming opposition from landlords, unsecured creditors and its own founder. The company emerged as a leaner business with fewer office locations and lower rent payments. 

  • August 30, 2024

    New York Code Council, Officials Duck Natural Gas Ban Suit

    A New York federal court dropped the New York Department of State, the New York State Fire Prevention and Building Code Council and several state officials from trade groups' challenge to the state's recent ban on natural gas in new construction.

  • August 30, 2024

    Judge Unsure Warehouse Antitrust Suit Belongs In Fed. Court

    An Illinois federal judge appeared skeptical Friday that a warehouse developer could unravel a municipal contract with several real estate companies accused of violating antitrust laws, questioning if the plaintiff was truly harmed by the deal or a related judgment its rivals later won in state court.

  • August 30, 2024

    Healthcare REIT Pays $62M For Two Skilled Nursing Facilities

    CareTrust REIT Inc. bought two skilled nursing facilities in two separate deals that cost $62.1 million in total in a "cash on hand" deal, the healthcare-focused real estate investment trust announced.

  • August 30, 2024

    DLA Piper, Morris Manning Guide Rentvine's $74M Fundraise

    Property management software company Rentvine has raised $74 million in growth capital from growth equity firm Mainsail Partners, in a deal advised by DLA Piper and Morris Manning & Martin LLP.

  • August 30, 2024

    Mich. Appeals Court Backs Uncapping Of Property's Value

    A Michigan property's valuation was properly uncapped because the transfer of ownership that followed the death of an owner nullified a state limit on valuation increases, a state appeals court said, affirming a tax tribunal decision.

  • August 29, 2024

    'No Hesitation' On $7M Atty Fees For $10B Verdict, Judge Says

    A California judge held up a phone book-sized printout Thursday of the 20-year docket for a case that resulted in a $10 billion verdict for four brothers who claim their real estate empire was stolen by another brother, and said she has "no hesitation" granting the plaintiff $7 million in attorney fees.

  • August 29, 2024

    3 Companies Form $5B Data Center Joint Venture

    Three companies have entered into a joint venture that can provide up to $5 billion worth of capital to fund the development of artificial intelligence and high-performance computing data centers for cloud solutions provider CoreWeave Inc., the companies announced Aug. 29.

  • August 29, 2024

    Building Codes Key Part Of Mitigating Insurance Risks

    Property and casualty insurers have highlighted resilient building as a way to address burgeoning property risk, but experts told Law360 the government alone cannot be expected to improve insurance outcomes without engagement from state and local jurisdictions and private organizations on issues like building codes and federal grants.

  • August 29, 2024

    Court Orders GSA To Explain Cost Analysis For Rental Deal

    The U.S. General Services Administration must explain how it identified the lowest-priced bid for a 15-year contract for office space in Ohio, the U.S. Court of Federal Claims ordered, after finding issues with the agency's calculations.

  • August 29, 2024

    Colo. Lawmakers OK Further Property Tax Rate Cuts

    The Colorado Legislature approved a bill Thursday that would cut assessment rates and limit local property tax growth as part of an agreement to stop two ballot initiatives critics say would devastate funding for schools and other local services.

  • August 29, 2024

    Fried Frank Helps Steer Brooklyn Production Studio Project

    A Brooklyn production studio is currently being developed by real estate investment firm Bungalow Projects, with guidance from Fried Frank Harris Shriver & Jacobson LLP, the law firm told Law360 on Aug. 28.

  • August 28, 2024

    Insurer Blasts Ralph Lauren's Appeal For COVID-19 Coverage

    Factory Mutual Insurance Co. urged the Third Circuit on Wednesday to reject Ralph Lauren Corp.'s bid to recoup up to $700 million in COVID-19 pandemic losses, blasting the fashion house's "conclusory allegations" that it was entitled to coverage.

  • August 28, 2024

    Colo. House OKs Additional Property Tax Rate Cuts

    The Colorado House approved a legislative package Wednesday aimed at limiting property tax increases by lowering assessment rates and capping local revenue growth, sending the measures to the state Senate.

  • August 28, 2024

    Ohio Justices To Weigh School Board Tax Appeal Rights

    The Ohio Supreme Court agreed Wednesday to hear a school board's claims that a law that limited the rights of school boards to appeal certain property valuation decisions to a state tax board offered them a path to appeal to county courts instead.

  • August 28, 2024

    Austin Light-Rail Plan Faces Fresh Suit Over Transit Tax Model

    A purported class of Austin, Texas, residents moved to block the financing structure for a transit plan in their latest state court challenge to the city's Project Connect model approved in a 2020 voter referendum.

  • August 28, 2024

    Landlord Says Twitter Changed Tune On Lease After Musk

    A Colorado landlord claims it was on the same page with Twitter about the terms of a lease and tenant improvement project until Elon Musk bought the company, when the social media platform suddenly "discover[ed] its new interpretation" of the lease and stopped paying rent. 

Expert Analysis

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • 3 Developments That Will Affect Hospitality Companies In 2024

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    As the hospitality industry continues its post-pandemic recovery, it faces both challenges and opportunities to thrive in 2024, including navigating new labor rules, developing branded residential living spaces and cautiously embracing artificial intelligence, says Lauren Stewart at Sheppard Mullin.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • The 4 Top Philadelphia Commerce Court Opinions Of 2023

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    Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • 5 Traps To Avoid When Selling CRE In Las Vegas Area

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    When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.

  • 'Brownfields' Definition Key To Energy Community Tax Credits

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    As the IRS rolls out guidance for claiming community energy tax credits under the Inflation Reduction Act, a review of the long-standing statutory definition of "brownfields" reveals that it continues to serve the goal of creating opportunities for investment in abandoned properties, says Louise Dyble at Sheppard Mullin.

  • Why Courts Are Nixing Insurer Defense Recoupment Claims

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    Following a recent trend, the Hawaii Supreme Court's decision in St. Paul Fire & Marine Insurance Co. v. Bodell Construction Co. provides a concise explanation of the argument that an insurer generally may not recoup costs for defending claims, based on three considerations, says Bradley Nash at Hoguet Newman.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

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    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Trump NY Fraud Trial Shows Civil, Criminal Case Differences

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    Former President Donald Trump’s civil fraud trial currently unfolding in New York provides a reminder that civil bench trials can be just as damaging, if not more so, than criminal prosecutions, due to several key elements of civil litigation procedure, says retired attorney David Moskowitz.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.

  • Crypto Has Democratized Trading In Bankruptcy Claims

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    Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.