Commercial
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June 30, 2025
Alaskan Tribe Found Immune In Residents' Casino Fight
A federal judge has found that the Native Village of Eklutna is a required party in a lawsuit by Anchorage residents who oppose the construction of a 58,000-square-foot casino, but has simultaneously ruled the tribe can't be joined in the litigation due to its sovereign immunity.
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June 30, 2025
Developers File $11.1B Plan In Biggest NYC Casino Pitch
Developers Soloviev Group and Mohegan have submitted an $11.1 billion pitch for a vacant lot known as Freedom Plaza on the east side of Manhattan in the priciest bid to New York officials for one of three open downstate gaming licenses.
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June 30, 2025
Fla. Court Declines To Ax $70M 'Usurious' High-Rise Loan Suit
A Florida federal bankruptcy judge Monday declined to toss a Chapter 11 adversary lawsuit claim that a lender attempted to take ownership of a prized high-rise lot in downtown Miami through a "usurious" $70 million loan default, allowing parties to reargue their positions after an amended complaint was filed.
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June 30, 2025
Rite Aid Cleared To Sell Thrifty Ice Cream For $19.2M In Ch. 11
National pharmacy chain Rite Aid can sell its ice cream brand Thrifty for $19.2 million, more than doubling the opening price of a Chapter 11 auction, after a New Jersey bankruptcy judge on Monday rejected a losing bidder's request to reopen the auction.
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June 30, 2025
Ill. Court Refuses To Slash Corp. Center's $37M Valuation
Two Illinois office buildings and a parking facility were correctly valued at $37 million, a state appeals court ruled Monday, rejecting the property owner's claim that the state's tax board relied on inadmissible appraisal evidence.
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June 30, 2025
Bankrupt NJ Office Building Has $21.5M Stalking Horse Bidder
Bankrupt New Jersey office building owner Viewstar LLC, owned by New York developer Moshe Gold, informed an Empire State bankruptcy court that it has received a stalking horse bid of $21.5 million from K&K Developers Inc.
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June 30, 2025
Cox Castle Guides Barings On Atlanta, Houston Industrial Refi
Cox Castle & Nicholson LLP advised investment manager Barings in providing a combined $136.5 million in refinancing for a pair of industrial properties owned by Centris Industrial.
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June 30, 2025
JLL Wraps Up $252M Industrial Portfolio Financing Deal
JLL Capital Markets lined up a five-year, floating rate $252.5 million financing loan for a "light industrial, mission critical" portfolio that has 21 properties that take up 3.64 million square feet in total, JLL announced Monday.
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June 30, 2025
Hyatt Selling Playa Real Estate Portfolio For $2B
Hyatt Hotels Corp. said Monday it has agreed to sell the real estate portfolio owned by Playa for $2 billion to Tortuga Resorts — a joint venture between an affiliate of private equity firm KSL Capital Partners and resort and hospitality company Rodina.
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June 30, 2025
McCarter & English Says Developer Estate Suit Is A Duplicate
McCarter & English LLP and the estate of a deceased attorney should not have to face a new lawsuit over the alleged mismanagement of a Connecticut retail developer's trust because it seeks to "derail" a pending case that is already teed up for trial, the defendants told a state court.
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June 30, 2025
Florida To Eliminate Business Rent Tax
Florida will eliminate its business rent tax under budget-related legislation signed Monday by Republican Gov. Ron DeSantis.
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June 30, 2025
Judge Might Toss Calif. Hotel Ch. 11 After $55M Sale Implodes
A Delaware bankruptcy judge told a California hotel owner and operator Monday he was prepared to dismiss or convert its Chapter 11 case after learning that a proposed $55 million sale to a third party fell apart over the weekend.
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June 30, 2025
Lender Files To Foreclose On $99M, Class A NYC Office Loan
A Class A midtown Manhattan tower in default on a $99 million mortgage is facing a foreclosure lawsuit in New York state court.
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June 30, 2025
RI Allows Local Tax Amnesty Programs For Every 3 Years
Rhode Island authorized municipalities to establish local tax amnesty programs every three years to give people and businesses a chance to resolve outstanding property tax liabilities without accruing interest under legislation signed by the governor.
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June 30, 2025
Seyfarth Lands 22 Transactional Attys From Morris Manning
Seyfarth Shaw LLP announced Monday that it has added a 22-lawyer transactional team from Morris Manning & Martin LLP, including 11 partners in the real estate, corporate and employee benefits groups, while the latter firm indicated it's in talks to expand its ranks.
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June 30, 2025
Justices Won't Review Taxing Of Power Plant On Tribal Land
The U.S. Supreme Court declined on Monday to hear a power company's claims that federal law protects a power plant it owns on tribal land in Arizona from property taxes.
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June 27, 2025
2 Firms Guide $512M Miami Mixed-Use Property Buy
Real estate investment trust Simon Property Group Inc. reportedly paid $512 million to acquire developer Swire Properties Inc.'s Brickell City Centre, a 5 million-square-foot, mixed-use Miami property with dining, retail and office areas, in a deal guided by Bilzin Sumberg Baena Price & Axelrod LLP and Greenberg Traurig LLP.
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June 27, 2025
Groups Sue To Protect Everglades From 'Alligator Alcatraz'
Environmental groups sued Homeland Security Secretary Kristi Noem and Florida officials Friday in Miami federal court in a bid to halt the construction of a migrant detention center known as "Alligator Alcatraz" in the Everglades, alleging it wasn't properly vetted for how it will impact the protected wetlands.
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June 27, 2025
RE Developer Cops Plea, Settles SEC's $3M Fraud Suit
A New Hampshire-based real estate developer has agreed to plead guilty and settle parallel U.S. Securities and Exchange Commission claims that she defrauded investors out of more than $3 million through a series of real estate investment projects between 2018 and 2024.
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June 27, 2025
Nelson Mullins Looks To Beat The Opportunity Zone Curve
As Congress debates President Donald Trump's budget bill, which would extend the opportunity zone program started in his Tax Cuts and Jobs Act of 2017, Nelson Mullins has ramped up the firm's practice in anticipation of a steady flow of investment work there, one of the group's leaders told Law360 Real Estate Authority.
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June 27, 2025
4 Firms Guide Blackstone's $2B CRE Loans Deal
Blackstone and Atlantic Union Bank's holding company have closed Blackstone's acquisition of $2 billion worth of performing commercial real estate loans from the holding company in a deal guided by Hunton Andrews Kurth LLP, Gibson Dunn & Crutcher LLP, Ropes & Gray LLP and Benesch Friedlander Coplan & Aronoff LLP, the companies jointly announced.
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June 27, 2025
Tariffs Disrupt Steadying Real Estate Industry Outlook
Commercial real estate leaders' outlook appeared to moderate following years of extremes, according to the results of a DLA Piper survey, though their outlook soured slightly in a follow-up survey conducted after the Trump administration announced reciprocal tariffs in April.
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June 26, 2025
Ga. Appeals Court Reverses Sanctions In Sinkhole Fight
The Georgia Court of Appeals has reversed a trial court's decision to strike the complaint of a property owner over discovery violations in a fight over a sinkhole, ruling that Peachtree Renaissance Property LLC was not given a fair hearing before the sanctions were handed down.
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June 26, 2025
Silverstein Adds Plans For 2K Apartments In NYC Casino Bid
Developer Silverstein Properties on Thursday added plans to develop more than 2,000 apartments to its bid to win the rights to develop a Manhattan casino, ahead of a New York City application deadline Friday.
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June 26, 2025
Calif. Judge Rejects CoStar, CREXi's Early Win Bids In IP Row
A California federal judge has rejected cross partial summary judgment bids made by property listing rivals CoStar Group Inc. and Commercial Real Estate Exchange Inc. in CoStar's copyright infringement suit against CREXi, which is accused of stealing nearly 50,000 CoStar commercial real estate images.
Expert Analysis
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How To Avoid A Costly CPA Limitation Hidden In Most Leases
The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.
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Navigating FEMA Grant Program For Slope Fixes After Storms
In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.
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Smith's New Trump Indictment Is Case Study In Superseding
Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.
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Consider Best Legal Practices For Commissioning Public Art
Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.
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Assessing Algorithmic Versus Generative AI Pricing Tools
A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.