Commercial

  • June 13, 2024

    Monsanto Can't Plead Ignorance On PCB Pollution, Cities Say

    Chicago suburbs looking to hold Monsanto and related businesses accountable for their financial share of reducing pollutants in water that flows into Lake Michigan urged an Illinois state court to keep their case alive, arguing the companies should have known about the dangers of the chemicals in products.

  • June 13, 2024

    NJ Justices Create New Liability Rule For Property Owners

    The New Jersey Supreme Court on Thursday voted 4-3 to craft a new rule stating that owners of commercial vacant lots have a duty to maintain the public sidewalks abutting the lots, and reinstated a woman's trip-and-fall injury suit.

  • June 13, 2024

    Indicted Ex-Conn. Official Missed Gun Sale Deadline, Feds Say

    Former Connecticut state budget official Konstantinos Diamantis has missed deadlines to remove guns from his residence and claimed he couldn't locate his passport despite orders to surrender it to federal authorities while he awaits trial on bribery and extortion charges, a U.S. probation officer reported Wednesday.

  • June 13, 2024

    CRE Expert Joins Emmet Marvin's Real Estate Finance Group

    Emmet Marvin & Martin LLP announced that the firm has added a partner to its real estate finance group, bringing with her the commercial real estate expertise she gained from Cadwalader Wickersham & Taft LLP.

  • June 13, 2024

    Data Center Developer Secures Upsized $9.2B Investment

    Hyperscale data center campus company Vantage Data Centers said it has secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.

  • June 13, 2024

    Red Roof Had 'Revolving Door' For Trafficking, Ga. Jurors Told

    A former Red Roof Inn Inc. employee and the leader of a nonprofit testified Thursday about sex trafficking they saw take place at two metro Atlanta Red Roof Inn locations as part of a landmark civil trial in which 11 women allege the company knew trafficking was taking place at the locations and did nothing to stop it.

  • June 13, 2024

    Pryor Cashman Aided Developer Fraud, Owes $5.7M, Cos. Say

    New York-based law firm Pryor Cashman LLP has been hit with a $5.7 million lawsuit in state court accusing it of aiding and abetting fraud while representing a real estate developer by allegedly providing false information to another party in a transaction involving a Manhattan property.

  • June 13, 2024

    Ohio Senate OKs Requiring Tax Payments For Property Splits

    Ohio would require delinquent property taxes to be paid before a real parcel was subdivided or transferred and would prohibit tax-delinquent property owners from buying tax-foreclosed property under a bill passed by the state Senate.

  • June 13, 2024

    NYC Real Estate Week In Review

    Willkie, Latham and Milbank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw three deals north of $100 million hit records.

  • June 12, 2024

    Mississippi Casino Developer's Creditors Want To Force Ch. 7

    Creditors for developer Diamondhead Casino Corp., which has been trying for years to build a casino in Mississippi near the Gulf Coast, filed an involuntary bankruptcy petition in Delaware bankruptcy court against the company Wednesday, saying they are owed $2.4 million.

  • June 12, 2024

    CMBS Loan Special Servicers Rack Up Fees — And Lawsuits

    Commercial mortgage-backed securities deals are structured to protect special servicers from litigation, but a recent crop of lawsuits and counterclaims may make it harder for them to continue business as usual.

  • June 12, 2024

    NY Court Strikes Housing Tax Break's Labor Dispute Process

    A New York state court has undercut a provision in a since-expired affordable housing tax break that enabled a city watchdog to issue judgments against developers who underpaid construction workers, deeming the provision unconstitutional because decisions could not be appealed.

  • June 12, 2024

    $18.8M Theft Coverage Suit Must Be Heard In State Court

    A Texas federal judge ruled that a lawsuit brought against an insurer over $18.8 million in theft and vandalism at a Georgia shopping center belongs in state court, refusing to create diversity by removing a plaintiff. 

  • June 12, 2024

    Real Estate Firm Fights CBRE's Bid To Slip Negligence Claim

    A real estate investment firm told an Iowa federal court to reject CBRE Inc.'s dismissal bid in a $10.3 million suit over Iowa property deals that fell through, arguing that CBRE "grossly oversimplifies" the firm's professional negligence claim against it.

  • June 12, 2024

    Texas AG: Wind Project Lease Negotiators Need A License

    Texas' attorney general told the Lone Star State's real estate commission that a person involved in lease negotiations for a wind farm project should have had a license from the commission following a recent project that cast doubt on the requirement.

  • June 12, 2024

    Historic Brownfields Funding Is Fueling Cleanup Catch-Up

    Under the time crunch of the Bipartisan Infrastructure Law, funding for brownfield cleanups has increased by more than 700% in the last three years as cities and nonprofits vie to tackle their most complex sites.

  • June 12, 2024

    Ohio Tax Board Undoes Vacant Eatery's COVID-19 Value Cut

    An Ohio County Board of Revision erred when it lowered a vacant restaurant property's value after the property owner argued the value had dropped as a result of the COVID-19 pandemic, the state Board of Tax Appeals ruled.

  • June 12, 2024

    Perkins Coie Real Estate Chair Eyes Energy As Rates Hold

    As the Federal Reserve continues to hold on interest rates and hint that it may take longer to start lowering them, more real estate investors are looking to alternative energy projects, Perkins Coie's real estate leader told Law360 Real Estate Authority in a recent interview.

  • June 11, 2024

    Insurer Given Early Exit From Contractor's Cost Overrun Suit

    An insurance company was axed Monday from a general contractor's $8.5 million lawsuit against a developer seeking payment for its work building an apartment complex, with a North Carolina state court judge ruling it was too soon to rope in the insurer.

  • June 11, 2024

    Vornado JV Inks $400M Refi For NYC Office, Retail Building

    A street retail joint venture led by Vornado Realty Trust secured a $400 million refinancing for a 315,000-square-foot office and retail property at 640 Fifth Avenue in Manhattan, according to a statement from Vornado on Monday.

  • June 11, 2024

    WeWork Announces CEO Switch As It Leaves Ch. 11

    WeWork, fresh from the confirmation of its Chapter 11 restructuring plan, said Tuesday it will be led by John Santora, who will take over as CEO as the company leaves bankruptcy behind.

  • June 11, 2024

    Cannabis REIT Will Invest $43M Into Purchased Fla. Land

    Cannabis-focused real estate investment trust Innovative Industrial Properties Inc. plans to invest $43 million into 16 acres of Ocala, Florida, land that it bought for $13 million.

  • June 11, 2024

    Net Lease REIT Sells 2 Office Properties For $60.7M

    Net Lease Office Properties said Tuesday that it has sold two Minnesota office properties leased to Blue Cross Blue Shield for a combined $60.7 million. 

  • June 10, 2024

    3 Firms Guide $125M ND Data Center Construction Loan

    CIM Group announced Monday that the investment firm closed on a $125 million loan to Applied Digital for the company's construction of a North Dakota data center campus, in a deal guided by Simpson Thacher & Bartlett LLP, Milbank LLP and Lowenstein Sandler LLP.

  • June 10, 2024

    NYC Tells 2nd Circ. No Sanctions In COVID Rent Law Suit

    New York City told the Second Circuit that its late-in-the-game jurisdictional arguments don't warrant sanctions amid litigation over pandemic protection for commercial real estate tenants, arguing that it raised the claims as soon as possible.

Expert Analysis

  • How 3D Printing And Prefab Are Changing Construction

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    The growing popularity of trends like 3D printing technology and prefabrication in the construction industry have positive ramifications ranging from reducing risks at project sites to streamlining construction schedules, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • A Deep Dive Into High Court's Permit Fee Ruling

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    David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.

  • Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • What To Consider When Buying RE Promissory Notes

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    In light of recent distress in the real estate market, note purchases — in which an investor buys a promissory note and mortgage rather than actual property — can be a worthwhile alternative to traditional investments, but require careful contemplation of unique risks and strategic considerations, say Douglas Praw and Katelyn DeMartini at Holland & Knight.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • SEC Climate Rules Create Unique Challenges For CRE

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    The U.S. Securities and Exchange Commission's recently adopted final rules concerning climate-related disclosures for public companies are likely to affect even real estate companies that are not publicly traded, since they may be required to provide information to entities that are subject to the rules, says Laura Truesdale at Moore & Van Allen.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.

  • How Retail Tenants Can Avoid Paying Rent Prematurely

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    When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.