Residential
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May 09, 2025
Investment Firm Buys SC Multifamily Property For $58.5M
URS Capital Partners acquired a 288-unit Class A multifamily community located in Charleston, South Carolina, for $58.5 million, the real estate investment firm announced.
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May 09, 2025
NY Developer Cops To Stealing $13M From Investors
A real estate developer pled guilty in New York federal court Friday to using sham projects to solicit $13 million from investors to make up for a downturn in legitimate business.
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May 09, 2025
Condo Counsel Disqualified In Suit Against Miami Hotel Owner
A Miami judge disqualified a law firm from representing a condo association in claims against a hotel owned by Spanish billionaire Amancio Ortega due to the firm's work for the hotel on an unrelated case.
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May 09, 2025
NY Boosts Payroll Tax For Large Biz, Cuts Income Tax Rates
New York will reduce income taxes on lower- to middle-income taxpayers, increase payroll taxes for big businesses in the New York City metro area and allow tax liabilities to be pushed out to partners under a budget bill that Gov. Kathy Hochul signed Friday.
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May 08, 2025
Smoke Concerns Persist Following Top Calif. Court Ruling
A decision from California's top court to allow litigants to cite a February ruling finding that two homeowners didn't have a covered fire debris claim could be used by insurers to try to limit coverage in other smoke and fire contexts, consumers advocates say, but industry leaders see the ruling as limiting frivolous claims.
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May 08, 2025
Couple Slams 'Ping-Pong' Brief In Conn. Waterfront Feud
A married Bridgeport, Connecticut, couple are urging a state court to strike a post-trial reply brief that was filed by companies that the couple are suing over local waterfront access, arguing that counsel for both sides previously agreed to only make one set of post-trial filings simultaneously.
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May 08, 2025
Calif. Apartment Owner Files Ch. 11 With $46M Debt
The owner of a 53-unit Corona, California, apartment complex has filed for Chapter 11 protection in California bankruptcy court ahead of a foreclosure proceeding with nearly $46 million in debt.
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May 08, 2025
3rd Circ. Signs Off On Philly Apartment Foreclosure Sale
A Third Circuit panel on Thursday affirmed a district court's refusal to stop U.S. Bank from selling a Pennsylvania apartment building following a borrower's default, ruling that, although the lender's route to a judgment in its favor was "unintuitive," it correctly followed the governing state laws.
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May 08, 2025
Coverage Uncertain For LA Fire Soil Remediation, Pros Say
Dangerous toxins are being detected in the soil around homes affected by the Los Angeles fires, but experts say that insurance coverage for soil remediation would likely be limited, even if certain policies or provisions could offer some compensation.
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May 08, 2025
11th Circ. Judge Frowns On New Arguments In Easement Case
An Eleventh Circuit judge disapproved of a Georgia partnership raising new arguments on appeal as it pursues a tax deduction for a conservation easement donation, saying Thursday that perhaps "we wouldn't be here" if the partnership had argued the points before the lower court.
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May 08, 2025
Miami Atty Disbarred Over Insistence Of Foreclosure Fraud
The Florida Supreme Court disbarred a Miami attorney after accusations that he misled courts, impugned judges and brought frivolous pleadings over his insistence that clients' homes were fraudulently foreclosed, despite previous suspensions from allegations of similar conduct in the past.
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May 08, 2025
Ga. Mortgage Co. Can Arbitrate Loan Processor's OT Claims
A loan processor manager's suit claiming a mortgage lender unlawfully considered her overtime-exempt will go to arbitration, a Georgia federal judge ruled, saying the company didn't waive its right to arbitrate and that the arbitration clause keeps her suit out of court.
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May 08, 2025
Tenn. Hotel Operators To Stop Collecting Tax After 30 Days
Tennessee will require hotel operators to stop collecting occupancy taxes from people who stay for more than 30 days under a bill signed by the governor.
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May 07, 2025
HUD Blocked From Withholding Grants Over DEI Policies
A Washington federal judge on Wednesday temporarily blocked the Trump administration from forcing New York City, Boston, San Francisco and Seattle's county to adhere to policies against diversity, equity and inclusion or risk losing federal funds for homeless services, saying the strings attached are likely unconstitutional.
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May 07, 2025
Fla. Lawmakers Tackle Real Estate Issues, But Is It Enough?
Real estate matters were once again top of mind during the Florida Legislature's 2025 session, but in a year marked by political tensions, it remains to be seen how successfully lawmakers resolved some major questions.
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May 07, 2025
'Preposterous' SEC Rule For Real Estate Could Be Dropped
A proposed rule to make the U.S. Securities and Exchange Commission's custodial requirements for investment advisers apply to all assets, including real estate, could die under current Republican leadership. Some attorneys say the proposal lacked sense to begin with.
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May 07, 2025
Venable Adds Construction Pro As Partner In Chicago
Venable LLP hired veteran construction attorney Charles "Cully" H. Wahtola III as a partner for the firm's construction law group in its Chicago office, the firm announced.
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May 07, 2025
NYC Developer Conned Investors Out Of $10M, Feds Say
A real estate developer involved in several projects in New York City was charged by federal prosecutors with misappropriating about $10 million in investor funds and using the money to finance a lavish lifestyle and cover gambling losses.
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May 07, 2025
Wells Fargo Forced Short Sales Despite CARES Act, Suit Says
Wells Fargo forced the short sale of a North Carolina woman's home by denying her forbearance on her mortgage as mandated under federal law at the onset of the COVID-19 pandemic, she alleged in a proposed class action filed in California federal court.
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May 07, 2025
3 Firms Guide $135M Loan Deal For Brooklyn Condo Project
Charney Cos. announced Tuesday that it secured a $135 million construction loan for the development of a 45-story, 182-unit Brooklyn condominium building.
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May 07, 2025
Big Brokers Say Tariff Effects Mostly Missed CRE In Q1
Commercial real estate executives largely shrugged off the effects of trade disputes this spring in reporting first-quarter results, even as they acknowledged more murkiness ahead for the rest of 2025.
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May 07, 2025
MoFo Real Estate Leader Eyes Surge In New Debt Funds
As some banks have pulled back or hit the pause button on commercial real estate lending, nonbank debt funds have been jumping in with full force to fill that lacuna, one of MoFo's real estate leaders told Law360 in a recent interview.
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May 07, 2025
Developer Fights NJ Power Broker's Bid To Nix Civil RICO Suit
A Camden, New Jersey, real estate developer is fighting to keep alive his civil racketeering suit against South Jersey power broker George Norcross, arguing in New Jersey state court the recent dismissal of a related indictment against Norcross "changes nothing" in the civil litigation.
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May 07, 2025
NJ Justices Deem Town Liable For Frivolous Lawsuits
Frivolous litigation by local government officials is not constitutionally protected and carries financial consequences, the New Jersey Supreme Court ruled Wednesday in a 5-0 decision reining in baseless legal battles.
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May 07, 2025
Contractor Skanska Promotes Two Civil Division GCs
Construction and development firm Skanska has said it promoted two employees to vice president and assistant general counsel, with both advising separate civil engineering divisions.
Expert Analysis
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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'Reverse Redlining' Suit Reveals Language Risks For Lenders
The Justice Department's case against consumer finance provider Colony Ridge highlights the government's focus on lending to consumers with limited English proficiency and the risks of generating marketing materials in other languages while conducting actual transactions in English, say attorneys at Goodwin.
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Hurricane Coverage Ruling Clarifies Appraisal Scope In Fla.
In a case involving property insurance for hurricane damage, a Florida federal court recently enforced policy limits despite an appraisal award exceeding those limits, underscoring the boundaries between valuation and coverage — a distinction that provides valuable guidance for insurers handling post-catastrophe claims, says Tiffany Bustamante at Cozen O’Connor.
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Feds May Have Overstepped In Suit Against Mortgage Lender
The U.S. Department of Justice's lawsuit against Rocket Mortgage goes too far in attempting to combat racial bias and appears to fail on the fatal flaw that mortgage lenders should be at arm's length from appraisers, says Drew Ketterer at Ketterer & Ketterer.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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Philly's Algorithmic Rent Ban Furthers Antitrust Policy Trends
A Philadelphia bill banning the use of algorithmic software to set rent prices and manage occupancy rates is indicative of growing scrutiny of this technology, and reflects broader policy trends of adapting traditional antitrust principles to respond to new technology, say attorneys at Ballard Spahr.
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How Property Insurance Coverage Shrank After The Pandemic
Insurers litigating property claims are leveraging rulings that provided relief in the COVID-19 context to reverse the former majority rule on physical loss or damage in all contexts, say attorneys at Reed Smith.
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Why Secured Lenders Must Mind The Gap In UCC Searches
If not adequately addressed, the Uniform Commercial Code filing indexing gap can interfere with a lender's expected lien priority, but taking appropriate preclosing actions and properly timing searches can eliminate this risk, says Robert Wonneberger at Barclay Damon.