Residential
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June 10, 2024
Gibson Dunn Advises $270M Financing For NYC Complex Plan
A Douglaston Development affiliate has closed on $270 million in financing for a project to replace an existing Manhattan apartment building with a 39-story complex in a deal advised by Gibson Dunn & Crutcher LLP.
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June 07, 2024
From Delaware To Georgia: Why LaVie Is Taking Ch. 11 South
Three years ago, LaVie Care Centers units filed for Chapter 11 protection in the common corporate venue of Delaware, but its new filing in its home state of Georgia challenges traditional norms in the practice and highlights not only local convenience, but the quality of Peach State bankruptcy bar.
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June 07, 2024
Tetra Tech Says Gov't On 'Fishing Expedition' In FCA Suit
Tetra Tech and a subsidiary accused the federal government and a housing developer of a "fishing expedition" after they sought access to electronic media long after discovery closed in cases accusing the subsidiary of fraud under Navy environmental contracts.
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June 07, 2024
LIHTC Developer Asks 11th Circ. To Undo Investor Takeover
A developer told the Eleventh Circuit on Friday it is a victim of a scheme by investors using a lower court ruling to complete a takeover of two Tampa, Florida, senior housing complexes developed with federal low-income housing tax credits.
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June 07, 2024
11th Circ. Urged To Undo Exclusion Of $80M Asset Valuation
A trustee for creditors of ATIF Inc. told the Eleventh Circuit on Friday that a trial judge erred in excluding an expert's $80 million valuation of the bankrupt title insurance underwriter's 2015 transfer of assets to Old Republic National Title Insurance Co.
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June 07, 2024
Lumbee Tribe Family Says Bias Sunk Home Rental Application
A family of Lumbee Native American tribe members has alleged that a national real estate rental company violated the Fair Housing Act's anti-discrimination provisions by denying their housing application based on the father's single criminal conviction without giving him a chance to appeal.
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June 07, 2024
Real Estate Co. Will Begin $170M Houston Tower Project
A Tennessee-based real estate company is set to begin construction on a $170 million, 37-story, mixed-use, Class A tower project in Houston, Texas, in October, according to a filing with Texas' Department of Licensing and Regulation.
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June 07, 2024
Texas Top Court Denies Roofer's Challenge To Adjuster Laws
The Supreme Court of Texas tossed on Friday a roofing company's challenge to the state's public adjuster licensing laws, saying that requiring a license or preventing certain conduct didn't violate the roofer's free speech rights.
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June 07, 2024
Miami Official Can't Shake Zoning Abuse Claims
A Miami commissioner can't escape allegations that he and other city officials conspired to sabotage local businesses with zoning and safety laws after a pair of business owners backed the commissioner's opponent in a 2017 election, a Florida federal judge ruled.
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June 07, 2024
6th Circ. Finds Ethical Lapses Justify Bar On Firm's Outreach
The Sixth Circuit said Thursday a Michigan federal judge shouldn't have faulted a law firm for attacking a proposed tax foreclosure class-action settlement in solicitation letters, but nevertheless upheld the judge's order barring contact with certain class members because of the firm's actual ethical lapses.
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June 07, 2024
Calif. Developer Seeks $5M Excess Coverage For Defect Suits
A California developer is seeking coverage under a $5 million excess policy for an underlying settlement stemming from construction defect claims, telling a federal court that its excess insurer wrongfully refused to cooperate in the dispute resolution and that the policy expressly provided coverage.
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June 06, 2024
Calif. Justices OK UC Berkeley People's Park Housing Plan
The University of California, Berkeley, can move ahead with its plans to build a housing project in the historic People's Park, the California Supreme Court ruled Thursday, saying a new state law wipes out opponents' claims that the university's environmental impact study failed to look at potential student noise pollution.
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June 06, 2024
Insurers' Climate Exposure Poses Risk To US Housing Market
Climate risks to already strained insurance markets could significantly disrupt the U.S. housing market and the broader financial system, according to insurance, banking and housing experts, as well as a growing body of academic research leveraging new risk data.
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June 06, 2024
Fintech Lender Ran 'Bait & Switch' With Borrowers, Suit Says
Fintech company Figure Lending LLC faces a proposed class action alleging its home equity lines of credit are actually intentionally mislabeled home equity loans with higher interest rates and fees.
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June 06, 2024
NYC Passes Economic Opportunity Rezoning, With Tweaks
The New York City Council voted June 6 to approve a slate of zoning reforms intended to promote small business growth and update decades-old regulations, after making several tweaks to the plan in response to community concerns.
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June 06, 2024
Colorado To Study Simplification Of Local Lodging Taxes
Colorado will expand the scope of a task force responsible for simplifying the state's sales and use tax regime to improve the local lodging tax system as part of a bill signed into law by Democratic Gov. Jared Polis.
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June 06, 2024
Jeffrey Zwick Advises On $147M NYC Portfolio Refinancing
A Namdar Realty Group affiliate has closed on a $147.1 million refinancing of a group of 18 New York City apartment buildings and commercial properties in a transaction advised by Jeffrey Zwick & Associates.
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June 06, 2024
Mass. AG Asks State High Court To Affirm Housing Law
Massachusetts Attorney General Andrea Joy Campbell told the state's highest court this week that her office has the authority to seek enforcement of what she says is a mandatory state housing initiative requiring more than half the state's communities to allow multifamily housing development.
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June 06, 2024
Hinshaw Adds Financial Services Partner In NY
Hinshaw & Culbertson LLP has added a consumer financial services partner in its New York City office from creditors rights firm LOGS Legal Group.
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June 06, 2024
Ex-Real Estate Firm GC Joins Federman Steifman As Partner
Federman Steifman LLP hired the former general counsel of real estate investment and development firm SomeraRoad as a partner for its New York City office, the law firm announced.
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June 06, 2024
Bell Nunnally Adds Ex-Munsch Hardt Real Estate Ace In Dallas
Bell Nunnally & Martin LLP has strengthened its real estate practice with a partner in Dallas who came aboard from Munsch Hardt Kopf & Harr PC.
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June 05, 2024
Property Plays: WP Carey, Tribeca, Tower Capital
W.P. Carey inked $258 million worth of investments, largely in industrials; a total of $21.5 million was loaned for the acquisition and conversion of an eight-story Tribeca building; Tower Capital lined up $47.4 million for a build-to-rent community in Texas.
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June 05, 2024
CohnReznick Scores Quick Exit In Tax Scheme Suit
A New York federal judge agreed to toss a housing partnership's suit accusing accounting firm CohnReznick LLP of professional negligence and fraud, finding that the district court doesn't have jurisdiction over the dispute.
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June 05, 2024
Denver Landlord Sued Over Allegedly Unlawful Late Fees
A Denver landlord and its property manager were accused in a proposed class action of charging tenants with unlawfully excessive late fees for owed rent and launching eviction proceedings against them for not paying the late fees and owed rent.
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June 05, 2024
Miami Developer Maintains Pioneering Touch In Latest Moves
Miami-area developer Masoud Shojaee spoke with Law360 Real Estate Authority about his project strategy and how it has led to longevity for his firm Shoma Group and given him confidence in helping to address a housing crisis and various challenges in the market.
Expert Analysis
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Calif. Housing Overhaul May Increase Pressure On Landlords
Two recently enacted California laws signal new protections and legal benefits for tenants, but also elevate landlords' financial exposure at a time when they are already facing multiple other hardships, says Laya Dogmetchi at Much Shelist.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
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.
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Climate Disclosure Mandates Demand A Big-Picture Approach
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.
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Playing Hockey Makes Me A Better Lawyer
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.
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Illinois EV Charging Act Sparks Developer Concerns
A recent state law in Illinois requiring multifamily housing to provide facilities for electric vehicle charging raises significant concerns for developers over existing infrastructure that isn't up to the task, says Max Kanter at Much Shelist.
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Calif. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of the year brought the usual onslaught of new regulatory developments in California — including a crackdown on junk fees imposed by small business lenders, a big step forward for online notarizations and a ban on predatory listing agreements, says Alex Grigorians at Hanson Bridgett.
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2nd Circ. Ruling Clarifies When Demand Letters Are Claims
The Second Circuit’s decision last week in Pine Management v. Colony Insurance, affirming that an insurer had no obligation to defend an insured for claims made before the policy period, provides clarity on when presuit demands for relief constitute claims — an important issue that may be dispositive of coverage, says Bonnie Thompson at Lavin Rindner.
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Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Preparing For Possible Calif. Criminal Antitrust Enforcement
Though a recent announcement that the California Attorney General's Office will resume criminal prosecutions in support of its antitrust enforcement may be mere saber-rattling, companies and their counsel should nevertheless be prepared for interactions with the California AG's Antitrust Section that are not limited to civil liability issues, say Dylan Ballard and Lillian Sun at V&E.
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Conn. Loan Law Tweaks May Have 3 Major Effects On Lenders
Recently proposed minor amendments to Connecticut’s consumer protection laws could nonetheless mean major and unexpected changes to state consumer financial services regulations that dictate how lenders and their customer-facing service providers handle fee payments, mortgage servicer licensing and private student loans, says Jonathan Joshua at Joshua Law Firm.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.