Commercial

  • August 22, 2024

    Pennsylvania Hospital Gets 1 Week Reprieve In Steward Ch. 11

    A Texas bankruptcy judge on Thursday approved an order setting general closing procedures for bankrupt hospital operator Steward Health Care, but gave Pennsylvania authorities a week's reprieve as they try to arrange a hospital sale.

  • August 22, 2024

    NY Agency Defends Real Estate Plays And Tracking Amid Review

    New York's Empire State Development pushed back against an audit from the Office of the New York State Comptroller finding that ESD filed inaccurate reports about its real estate properties and sold off a number of them for too little money.

  • August 22, 2024

    Texas Court Backs Nate Paul's Co. In Real Estate Receiver Row

    A Texas state appeals court on Thursday reversed a decision allowing a receiver to settle a lawsuit on behalf of a company owned by real estate investor Nate Paul, relying largely on a dispute from an El Paso appeals court involving Paul's companies with "nearly identical" facts.

  • August 22, 2024

    Auburn Wants Out Of 11th Circ. Arguments Over Burial Ground

    Auburn University has asked the Eleventh Circuit to be excused from oral arguments next month in a dispute between two Native American groups over a burial ground where centuries-old human remains were exhumed to make way for construction of a multimillion-dollar casino.

  • August 22, 2024

    Fla. Investment Firm Starts $500M Real Estate Credit Strategy

    Florida-based investment shop Morning Calm Management has formed a $500 million platform focused on mezzanine lending and preferred equity deals in commercial real estate, with a plan to capitalize on a void in the market left by a pullback in bank lending, the company said Aug. 22.

  • August 22, 2024

    King & Spalding Grows New York Real Estate Group

    An attorney specializing in transactional work and fund formation moved his practice this week to King & Spalding LLP's New York office after four and a half years with Schulte Roth & Zabel LLP.

  • August 22, 2024

    NY AG Tells Appeals Court To Uphold $465M Trump Judgment

    Donald Trump has barely challenged the extensive proof of financial statement lies undergirding a $465 million civil fraud judgment against him and his co-defendants, New York's attorney general said in an appeals brief looking to preserve the bench verdict.

  • August 22, 2024

    Builder Wins $524M Contract For Cybersecurity Agency HQ

    The U.S. General Services Administration announced that it has awarded a construction company with a $524 million contract to build the new Washington, D.C., headquarters for a U.S. Department of Homeland Security agency.

  • August 22, 2024

    Chinese Developer Seeks US Recognition For $7.4B Reorg

    A Chinese real estate developer is asking a New York bankruptcy judge for U.S. recognition for its efforts to restructure more than $7.4 billion in overseas debt held in Hong Kong and the Cayman Islands.

  • August 21, 2024

    Top New York Real Estate News This Summer

    Catch up on the hottest real estate news out of New York so far this summer, from office sales and foreclosures to casino projects and housing policies.

  • August 21, 2024

    Finance Guru Can't Send Timeshare Fraud Suit To Arbitration

    Celebrity financial planner David L. Ramsey III and his company can't pause and arbitrate a proposed class action alleging they promoted a timeshare exit fraud scheme on his radio show, a Washington federal judge said Wednesday, finding they were not included in arbitration agreements with the timeshare owners.

  • August 21, 2024

    Insurers Escape Calif. Starbucks Drive-Thru Easement Row

    A California appeals court affirmed a lower court decision, finding commercial property insurers didn't have to defend an owner who allegedly tricked one tenant into signing an easement agreement for a parking lot, neglecting to mention it would be used by a Starbucks drive-thru.

  • August 21, 2024

    Fla. Real Estate Co.'s Assets Frozen After $56M Ponzi Claims

    The U.S. Securities and Exchange Commission has secured an asset freeze in its suit against a Florida-based real estate investment company whose managers misused tens of millions of investor proceeds, including by paying investors "in a Ponzi-like fashion."

  • August 21, 2024

    Venable Guides Hyatt's $335M Standard International Buy

    Hyatt Hotels Corp. will acquire hospitality company Standard International's brands and a majority of its affiliates in an up to $335 million deal guided by Venable LLP, as Hyatt continues a push to shed some of its physical assets.

  • August 21, 2024

    3rd Circ. Affirms Health Chain Win In Pa. Hospital Sale Dispute

    The seller of a Pennsylvania hospital was in compliance with its state licensing requirements when the facility was sold, and thus, did not violate the terms of the sale agreement when the buyer needed to update its fire-safety plans to stay licensed, the Third Circuit has affirmed.

  • August 21, 2024

    KKR Pays $337M For 6 US Industrial Warehouses

    KKR purchased a 2 million-square-foot, fully leased portfolio of six Class A industrial logistics warehouses in a $337 million deal, the global investment firm announced Monday.

  • August 21, 2024

    Alleged WeWork Fraudster Fires Dickinson Wright Before Trial

    Lawyers from Dickinson Wright PLLC told a New York federal judge on Wednesday that they have been discharged by the former CEO of real estate investment firm ArciTerra ahead of his October trial for issuing a bogus $77 million offer for WeWork shares.

  • August 21, 2024

    NJ Health System Calls Proskauer DQ Bid A 'Litigation Tactic'

    RWJBarnabas Health urged a New Jersey federal judge to reject its competitor's attempt to disqualify Proskauer Rose LLP from representing the healthcare system in an antitrust suit, telling the court the "litigation tactic" is merely the plaintiff's effort to replace opposing counsel because its case is going badly.

  • August 21, 2024

    Proptech Sector Stuck In The Doldrums, But Eyeing A Way Out

    Hopes that the property technology sector would rebound in 2024 after a down year have not materialized so far — with a recent report showing funding has actually dropped further — but investment and technology professionals anticipate improvements soon and see the potential for major long-term growth.

  • August 21, 2024

    Minn. Tax Court Cuts $2.5M From Office Building Value

    The local valuation of a Minnesota office building recently occupied by the state Department of Education was too high, the state tax court said, cutting about $2.5 million from the assessment.

  • August 21, 2024

    Cooley Atty Expects San Diego Life Sciences Supply To Slow

    As many San Diego life sciences projects are wrapping up, new real estate supply should slow and in turn push the local vacancy rate down, a Cooley real estate lawyer told Law360 Real Estate Authority in an interview.

  • August 20, 2024

    Steward Health, Landlord Spar Over Ch. 11 Hospital Sales

    Bankrupt hospital operator Steward Health Care has filed an adversary suit against the landlord for 30 of its hospitals, Medical Properties Trust, saying the landlord is throwing a wrench in the sale process for the facilities and trying to hoover up all the proceeds.

  • August 20, 2024

    4 Firms Rep Wells Fargo's Sale Of Servicing Biz To Trimont

    Commercial mortgage loan services company Trimont will be the biggest loan servicer in the U.S. after Wells Fargo agreed to sell it a part of its business in a deal guided by Wachtell Lipton Rosen & Katz, Kirkland & Ellis LLP, Cadwalader Wickersham & Taft LLP and Trilegal, the bank and Trimont announced Tuesday.

  • August 20, 2024

    Pa. Justices Say No Public Benefit To Railroad Land Grab

    The general public needed to be the primary beneficiary for a railroad to use eminent domain to take over part of a property and reactivate a siding, and that standard was harder to meet now compared with when a century-old precedent was set, the Supreme Court of Pennsylvania ruled Tuesday.

  • August 20, 2024

    Mass. Parcels Were Properly Valued Despite Construction

    Two parcels of land in a Massachusetts town were properly valued and should not have their value decreased based on construction on a nearby property, the state Appellate Tax Board said in a decision released Tuesday.

Expert Analysis

  • How Electric Vehicles Will Affect Land Use And Development

    Author Photo

    The increasing use of electric vehicles will bring significant issues for cities and real estate developers to consider, as cities will require substantially more infrastructure to meet electric vehicles' charging needs, says John Lushis at Norris McLaughlin.

  • 2nd Circ. Reinsurance Ruling Misconstrues English Law

    Author Photo

    The Second Circuit's finding in Insurance Company of the State of Pennsylvania v. Equitas Insurance, that London-based reinsurer Equitas owed coverage for losses outside the policy period, stems from that court's misinterpretation of English law on reinsurance policy construction, says Christopher Foster at Holman Fenwick.

  • Key Limited Partnership Provisions During Market Downturns

    Author Photo

    With a recession potentially on the horizon, fund managers should carefully examine their funds' limited partnership agreements for items that may be affected by economic downturns, and assess whether modifications may be appropriate, says Matthew Posthuma at Ropes & Gray.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

    Author Photo

    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

  • Fla. Foreign Real Estate Law Brings Broad Investment Risks

    Author Photo

    Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.

  • Prepping Your Business Ahead Of Affirmative Action Ruling

    Author Photo

    The U.S. Supreme Court's upcoming ruling on whether race should play a role in college admissions could potentially end affirmative action, and companies will need a considered approach to these circumstances that protects their brand power and future profits, and be prepared to answer tough questions, say Nadine Blackburn at United Minds and Eric Blankenbaker at Weber Shandwick.

  • How REITs Can Prep For SEC's Repurchase Disclosure Rules

    Author Photo

    With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.

  • Tackling Judge-Shopping Concerns While Honoring Localism

    Author Photo

    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • How Attorneys Can Help Combat Anti-Asian Hate

    Author Photo

    Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

  • Congress Needs To Enact A Federal Anti-SLAPP Statute

    Author Photo

    Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

  • As Sackett Trims Feds' Wetlands Role, States May Step Up

    Author Photo

    The U.S. Supreme Court's recent decision in Sackett v. U.S. Environmental Protection Agency extinguishes federal authority over many currently regulated wetlands — meaning that federal permits will no longer be required to discharge pollutants in affected areas, but also that state regulators may take a more active role, say attorneys at Kelley Drye.

  • Some Client Speculations On AI And The Law Firm Biz Model

    Author Photo

    Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.

  • Trafficking Ruling Offers Liability Lessons For Hospitality Cos.

    Author Photo

    A California federal court recently dismissed a lawsuit accusing several national hotel chains of knowingly benefiting from sex trafficking at their premises, highlighting how hospitality leaders can protect their guests and staff, and shield their companies from liability and reputational damage, says Danielle Dudai at Hall Booth.