Residential
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September 20, 2023
Houston Punts 'Cancer Cluster' Relocation Fund Decision
Houston officials are grappling with whether to spend $5 million to immediately begin moving residents away from a "cancer cluster" neighborhood near a contaminated railroad site, or push pause and wait on further environmental testing that could inject additional funding sources.
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September 20, 2023
Pro And Con(struction): Redfin Housing Report Airs Tensions
Of the homeowners and renters who told Redfin they support policies to promote new multifamily construction, only 32% would support them in their own neighborhood, according to survey results released by the residential brokerage Wednesday.
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September 20, 2023
DC Court Backs HUD Disparate Impact Rule, 8 Years Later
The D.C. federal court upheld a U.S. Department of Housing and Urban Development rule expanding the scope of discriminatory housing practices eight years after the circuit court ordered its review, delayed by multiple administrations' rewrites of the policy.
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September 20, 2023
Institutional Property Advisors Brokers $112M Multifamily Sale
A division of brokerage firm Marcus & Millichap, Institutional Property Advisors, arranged the sale of a 360-unit multifamily asset in Arizona for $112 million, the company said Monday.
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September 20, 2023
Greystar Faces Calif. Suit Over Security Deposit Charges
Multifamily developer Greystar was hit with a class action for allegedly failing to explain why it withheld funds from former tenants' security deposits, despite a California law that requires landlords to disclose that information.
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September 20, 2023
Miami Developer Secures $24M Loan For Maine Property
Miami-based developer Mark McClure completed a $24 million construction loan for a luxury 45-unit condominium development in Cumberland Foreside, Maine, the developer announced Monday.
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September 20, 2023
1031 CF Adds Florida Senior Housing Facilities to Portfolio
Real estate investing platform 1031 Crowdfunding (1031 CF) has added two memory care and assisted living facilities in Florida to its 10 Delaware Statutory Trust (DST) offering, according to the company's statement on Tuesday.
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September 20, 2023
JBM Lists Four Florida Multifamily Properties For $195M
Brokerage firm JBM Institutional Multifamily Advisors has listed a handful of Class A and B multifamily communities throughout Florida worth a total of $195 million.
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September 20, 2023
Commercial, Multifamily Mortgage Debt Grew By $37.7B In Q2
The amount of outstanding mortgage debt on commercial and multifamily properties in the U.S. increased by $37.7 billion in the second quarter, continuing a trend from the prior quarter, according to the Mortgage Bankers Association.
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September 21, 2023
Fight Or A Flight Home? A Tycoon's US Extradition Strategy
The case of Zhang Li, a Chinese billionaire who avoided criminal charges and was able to fly home after consenting to extradition to America in a San Francisco bribery case, is a reminder that fighting extradition is not the only option when facing prosecution by U.S. authorities.
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September 19, 2023
SEC, Adviser's Estate Reach Terms To End $29M Ponzi Suit
The estate of a deceased registered investment adviser representative has agreed to settle U.S. Securities and Exchange Commission allegations that he defrauded over 50 investors out of at least $29.3 million and spent the money on planes, his mistresses and his family.
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September 19, 2023
Wash. Panel Says Insurer Can't Escape Default Judgments
The Washington Court of Appeals revived a pair of default judgments won by a Seattle-area couple in their property damage lawsuit against their insurer, finding that a lack of notice by the couple didn't excuse the insurer's failure to appear in the case.
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September 19, 2023
Judge Ends Advocates' Bid To Intervene In Calif. Housing Suit
A California judge denied a bid by local pro-housing advocates to intervene in a suit where Manhattan Beach residents are attempting to stop a housing development in the city, alleging that a proper environmental review was not completed before the project was approved.
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September 19, 2023
Judge Keeps Jurors Accused Of Racial Bias In $1.3B Tax Case
A juror accused by another of planning to find three men guilty of conspiring to promote a $1.3 billion conservation easement tax scheme because they are "rich, white and entitled" may remain on the jury and continue deliberations, a Georgia federal judge said Tuesday.
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September 19, 2023
Tenants Say Neglect Caused Mold, Gas Leaks At DC Complex
A group of tenants has argued in a Washington, D.C., court that the owner and property manager of a low-income apartment complex have refused to maintain the building for years, causing gas leaks, pest infestations, toxic mold and a series of other threats to residents.
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September 19, 2023
Community Focus Fosters Growth For Miami Developer
It's a challenge picking a project — or even three — to best illustrate the impact Miami-based developer David Martin has had on the local market, as his firm, Terra, has kept its pipeline extremely active with standout buildings in a wide range of asset classes, market strata and just about every hot neighborhood — and even some not-so-trendy ones.
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September 19, 2023
9th Circ. Favors Alaska Rail Co. In Easement Row With HOA
The Alaska Railroad Corporation holds exclusive rights to a corridor on each side of its right-of-way, the Ninth Circuit said, turning away a property owners association's claim that it could operate an airstrip within the state-owned easement.
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September 19, 2023
Local Calif. Officials Propose Limiting State's Land-Use Power
A group of current city council members and former mayors in California obtained permission to start circulating petitions and gathering signatures on a proposed initiative to limit the state's ability to set statewide land-use and housing policy.
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September 19, 2023
Georgia County, Builder Ink Deal In Due Process Suit
A home building company and a north Georgia county asked the Eleventh Circuit this week to stay all proceedings while they finalize a settlement agreement in a lawsuit over the county's stop work orders, which the builder had called arbitrary.
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September 19, 2023
Chinese Developer Seeks US Recognition For $9B Reorg
Chinese real estate developer Sunac China Holdings Ltd. asked a New York bankruptcy judge on Tuesday for U.S. recognition of proceedings it began in Hong Kong to reorganize $9 billion in debt.
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September 19, 2023
LA City Council Votes To Examine 'Bad-Faith' Evictions
The Los Angeles City Council voted unanimously on Tuesday to commission a report regarding the use of "bad-faith" evictions locally in an effort to better prevent those instances and ensure landlords are not abusing state law.
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September 19, 2023
Tenants Allege Rent Overcharge At Famed Author's NYC Apt
Two tenants say a New York City landlord charged them too much for an apartment that used to house author Harper Lee, arguing that the unit was, and still is, subject to rent stabilization.
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September 19, 2023
TruAmerica Buys $103M Southern Calif. Apartment Complex
TruAmerica announced Tuesday it bought a 264-unit apartment complex in Santa Ana, California, with real estate debt and equity firm PCCP for $102.9 million, boosting its portfolio of Orange County housing assets.
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September 19, 2023
Bankman-Fried's Parents Profited Off FTX Fraud, Suit Claims
FTX Trading Ltd. and Alameda Research LLC have sued the parents of the companies' founder, Sam Bankman-Fried, as part of ongoing bankruptcy proceedings over claims the couple fraudulently received millions of dollars from their son.
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September 19, 2023
Ohio Bill Would Allow Credits For Pet-Friendly Landlords
Ohio landlords who allow pets to live in their buildings without charging a fee would be able to claim a nonrefundable income, financial institutions or commercial activity tax credit under a bill introduced in the state House of Representatives.
Expert Analysis
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Fla. Foreign Real Estate Law Brings Broad Investment Risks
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.
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Prepping Your Business Ahead Of Affirmative Action Ruling
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.
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Tackling Judge-Shopping Concerns While Honoring Localism
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.
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How Attorneys Can Help Combat Anti-Asian Hate
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.
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Congress Needs To Enact A Federal Anti-SLAPP Statute
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.
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Banking Tips For Lending To Calif. Homeowners Associations
With current financial markets and recent changes to California law putting a brighter spotlight on lending, banks should understand the special considerations involved in lending to homeowners associations and the various possible remedies in the event of a default, says Alex Grigorians at Hanson Bridgett.
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Some Client Speculations On AI And The Law Firm Biz Model
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.
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How Rent Proposals May Affect Most Populous Md. County
Of the various legislative changes concerning rent controls and property taxes that are being considered in Montgomery County, Maryland, comparatively milder controls are likely to prevail, but even these lenient measures may make it more difficult for the county to fulfill its needs for new housing, says Michael Murray at Greysteel.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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High Court's Ethics Statement Places Justices Above The Law
The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.
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Texas Justices' PNC Opinion Clarifies Subrogation Questions
Thanks to the sorely needed clarification provided by the Texas Supreme Court in PNC Mortgage v. Howard, a home equity lender now has a better understanding of what it can do when its own lien is constitutionally invalid but is either equitably or contractually subrogated to a prior lien, say Daron Janis and Dave Foster at Locke Lord.
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Assessing The Reach Of 9th Circuit's Natural Gas Ruling
The Ninth Circuit's recent decision in California Restaurant Association v. Berkeley, affirming that the Energy Policy and Conservation Act preempts certain state and local natural gas bans, may chill other efforts to limit usage of natural gas and raises important questions for utility companies, natural gas consumers and policymakers to consider, say attorneys at Greenberg Traurig.
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Time For Law Schools To Rethink Unsung Role Of Adjuncts
As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.