Residential

  • November 03, 2022

    RealPage Accused Of Price-Fixing In Student Housing Market

    A technology company was accused for the second time in a month of colluding with real estate firms to boost prices above market rates, this time in a class action involving student housing.

  • November 03, 2022

    Insurer Doesn't Owe Coverage In Construction Suit, Court Says

    An insurer has no duty to defend or indemnify a construction manager sued over defects discovered at an apartment building, a Florida federal court ruled, finding that the policy's professional services exclusion bars coverage of the property owner's underlying suit.

  • November 03, 2022

    Veris Residential Rejects Nearly $1.5B Kushner Takeover Bid

    New Jersey-based Veris Residential Inc. on Thursday said it is rejecting Kushner Cos.' unsolicited proposal to acquire it for $16 per share, or around $1.46 billion, saying it believes the bid undervalues the company and is unfair to its shareholders.

  • November 03, 2022

    NYC Buildings Department Head Resigns

    New York City Department of Buildings Commissioner Eric Ulrich resigned Thursday morning, Mayor Eric Adams' office announced, two days after the New York Times reported that Ulrich had been questioned as part of an illegal gambling probe.

  • November 02, 2022

    3 Real Estate Trends To Watch In The Post-Pandemic World

    One of the seemingly paradoxical impacts of the COVID-19 pandemic was how the coronavirus managed to bring life to a standstill, yet brought about major changes that in many instances rapidly advanced our use of technology or how we do things.

  • November 02, 2022

    4th Circ. Denies Operators' Appeal In Sanctuary Belize Scam

    The Fourth Circuit in a mixed ruling has effectively upheld the entirety of a district court's $120.2 million final judgment against the operators of the purported luxury Sanctuary Belize development, knocking down their challenges to a slew of judicial decisions.

  • November 02, 2022

    Judge Stops Senior Housing Project On NYC Garden Site

    A Pennrose-led development team's effort to build affordable housing units for seniors on the site of a park in the Little Italy area of New York City has hit a snag, with New York Supreme Court Judge Debra James annulling an environmental assessment of the project in favor of a more intensive study.

  • November 03, 2022

    Reaction Mixed To $300M Housing Initiative On Colo. Ballot

    A housing initiative is on the ballot in Colorado for the first time, and is getting mixed reviews. Colorado Proposition 123, or the Dedicate State Income Tax Revenue to Fund Housing Projects Initiative, would funnel around $300 million a year of taxpayer money toward affordable housing.

  • November 02, 2022

    La. Hurricane Not Fit For NY Arbitration, Property Owner Says

    A New Orleans property management company has asked a Louisiana federal court to deny its insurers' motion to compel arbitration in New York for claims related to Hurricane Ida in 2021, arguing that only two of its 10 insurance contracts were with foreign entities potentially subject to such rules.

  • November 02, 2022

    NY AG Says Developer Sold Fake Condos To Immigrants

    New York Attorney General Letitia James on Wednesday accused a developer and his ex-wife of pocketing $5 million by selling fake condo units in a Brooklyn apartment building to at least 20 Chinese immigrants, filing suit against the pair in state court.

  • November 02, 2022

    Mortgage Co. Accused Of Underpaying OT, Weekend Wages

    A former loan officer accused a mortgage lender of illegally dissuading workers from reporting their overtime hours and of compelling them to perform off-clock work without compensation in a proposed collective action filed in Florida federal court.

  • November 02, 2022

    Ill. Real Estate Atty Can Practice After 3-Year Suspension

    An Illinois real estate attorney is allowed to return to practicing law after having his attorney license suspended for three years following his conviction of mail and wire fraud in connection with a real estate scheme.

  • November 02, 2022

    Accessory Dwelling Units Approved In Miami-Dade County

    The Miami-Dade Board of County Commissioners voted this week to legalize accessory dwelling units in unincorporated areas, allowing them on more than 170,000 single-family properties.

  • November 02, 2022

    Jury Continues Deliberations On Fannie, Freddie Profit Sweep

    A D.C. federal jury continued deliberating Wednesday in spite of a COVID-19 scare and request for a mistrial in Fannie Mae and Freddie Mac shareholders' lawsuit accusing the Federal Housing Finance Agency of improperly amending stock purchase agreements to allow the U.S. Department of the Treasury to sweep up the companies' net profits. 

  • November 02, 2022

    Dinsmore Grows Real Estate Group With New Pittsburgh Atty

    Dinsmore & Shohl LLP has expanded its Pittsburgh office with the addition of a real estate attorney who left Strassburger McKenna Gutnick & Gefsky to join the firm.

  • November 02, 2022

    Real Estate Rumors: Walton Street, San Antonio, Ganni

    Walton Street Capital has reportedly loaned $65.8 million for a Tampa Sheraton in Florida, San Antonio is said to be partnering with Morgan Group on a mixed-use project, and Ganni is said to be leasing 5,750 square feet in New York City.

  • November 02, 2022

    Sen. Brown Asks FTC To Investigate Rental Pricing Algorithms

    The chair of the Senate Banking Committee urged the Federal Trade Commission to probe the practice of using algorithm-based price optimization software to set rents, saying recent reports suggest the use of such technology may be violating antitrust laws.

  • November 02, 2022

    Walker & Dunlop-Led Joint Venture Acquires $189M Portfolio

    Walker & Dunlop Investment Partners said Wednesday that it purchased an 820-unit multifamily portfolio in Texas along with joint venture partners Pacific Life and Magma Equities, in a deal worth $189 million.

  • November 02, 2022

    Insurer Can't Change Judge's Mind In Shooting Coverage Suit

    A Georgia federal judge refused to reconsider a recent decision holding that an insurer cannot rely on a firearms exclusion to bar coverage of a suit brought against the owner of a Peach State apartment complex where a man was shot and killed last year.

  • November 02, 2022

    Directors Banned For Abusing Care Home Investors' Money

    Directors of two U.K. care home investment companies have been banned from running another business for a total of 25 years, after being found guilty of abusing millions of pounds of investors' funds, the Insolvency Service said Wednesday.

  • November 02, 2022

    Growing Columbus Asks Voters For $200M To Build Housing

    Officials in Ohio's fastest-growing city are treating its housing stock like roads or sewers — by asking voters to devote public money to build more of it.

  • November 01, 2022

    SD Tribe's Voter Discrimination Case Now Moot, County Says

    County officials in South Dakota maintain that they should not have to defend against a lawsuit claiming that their electoral map discriminates against Native American voters, saying the litigation is now moot because they created a majority-Native district that takes effect in 2024.

  • November 01, 2022

    US Bank Tells 2nd Circ. To Uphold RMBS Suit Win

    U.S. Bank has asked the Second Circuit Court of Appeals to affirm a lower court ruling that rejected Germany-based Commerzbank AG's attempt to reconsider a 2015 claim that U.S. Bank had breached its fiduciary obligations in regard to 56 residential mortgage-backed securities trusts.

  • November 01, 2022

    Condo Association, Insurer Reach Deal In $1.6M Damage Suit

    A Washington federal court on Tuesday dismissed a suit between a Seattle-based condominium association and a Nationwide unit after the parties said they reached a settlement in the dispute over the insurer's denial of coverage for an alleged $1.6 million in hidden damage from rainwater events.

  • November 01, 2022

    JLL Guides KKR's $357M Philadelphia High-Rise Buy 

    JLL Capital Markets brokered a KKR fund's purchase of two Class A multifamily properties, a high-rise in Philadelphia worth $357 million and another asset in Brooklyn, with a total of 1,380 housing units, the companies announced Tuesday.

Expert Analysis

  • CFPB's New Foreclosure Limits Will Be Tough On Servicers

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    While the Consumer Financial Protection Bureau's new Regulation X rules are touted as paving the way for a smooth transition as federal foreclosure moratoriums end this month, implementing the changes puts a heavy burden on loan servicers with only weeks to ensure compliance by the Aug. 31 deadline, say Allison Schoenthal and Matthew Sheldon at Goodwin.

  • A Confusing Split Over 'Reasonable Consumer' In Fla. Courts

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    Courts are divided over what counts as a reasonable consumer regarding determining liability under the Florida Deceptive and Unfair Trade Practices Act — including whether it is a judge or jury who makes that call — and with ample case law for either side of the issue, the only thing certain is that lawyers and clients will remain frustrated on the issue, say Aaron Weiss and James Czodli at Carlton Fields.

  • Justices' FHFA Ruling Is Small Step In A Dangerous Direction

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    The U.S. Supreme Court's ruling this week in Collins — stripping the Federal Housing Finance Agency director of removal protections — fails to consider the dangerous possibility that a president with complete control over the executive branch could dictate policies undermining the rule of law, and democracy itself, says David Driesen at Syracuse University.

  • Challenges Facing California's Proposed Coastal Property Law

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    A proposed California law that would allow cities to buy coastal properties and rent them back to homeowners is a conceptually sound course of action to prepare for rising sea levels, but the planned voluntary acquisition program may encounter some obstacles, say Bradford Kuhn and Raven McGuane at Nossaman.

  • How COVID Could Worsen The US Construction Defect Crisis

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    The COVID-19 pandemic has created market conditions that may aggravate the decadeslong construction defect crisis in the American housing market due to supply chain disruptions, skilled labor shortages and time crunches, say attorneys at Ball Janik.

  • NY Courts Should Protect Housing Rights Of All Tenants

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    New York courts should adopt a construction of the Housing Stability and Tenant Protection Act that expands on the rights of tenants without a traditional landlord-tenant relationship, in order to not only promote justice, but also adhere to the law as written, say law student Giannina Crosby, and professors Sateesh Nori and Julia McNally, at NYU Law.

  • Collaborative Contracting Can Help Combat Bias In AI

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    To mitigate bias in artificial intelligence technology amid pending EU and U.S. regulations, contracting companies should consider each party's role in controlling for bias, rather than applying binary liability allocations, say Boris Segalis and Joshua Fattal at Goodwin and independent attorney Neal Dittersdorf.

  • What EPA's Environmental Justice Push Means For Cos.

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    The U.S. Environmental Protection Agency's increased focus on environmental justice, which will give historically disadvantaged communities more influence over federal environmental policy, means that regulated companies should stay closely engaged with agency policymaking, say attorneys at King & Spalding.

  • Biden Admin.'s Climate Strategy Should Include Insurance Innovations

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    To successfully meet the Biden administration's climate-related goals, the federal government must fill gaps in state regulation of environmental insurance, and help create an insurance framework that incentivizes and facilitates carbon impact reduction in four key areas, say Michael Hill and Paul Tetenbaum at Blue Dot Climate Insurance.

  • FDCPA Ruling Has Privacy Implications For Financial Services

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    In Hunstein v. Preferred Collection, the Eleventh Circuit’s recent decision to allow claims against a debt collector who shared customer information with a vendor is concerning for financial services companies in its potential to broaden the Fair Debt Collection Practices Act and other consumer protection laws to include privacy rights, say attorneys at Holland & Knight.

  • Laws Favor NYC Tenants' Discovery In Rent Overcharge Suits

    Excerpt from Practical Guidance
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    Although a New York state court's decision in Regina Metro v. New York State Division of Housing and Community Renewal last year curtails certain tenant rights under the Housing Stability and Tenant Protection Act, subsequent cases have shown the law still favors broad discovery for tenants in rent overcharge cases, say Andrew Darcy and Brian Sullivan at Mobilization For Justice.

  • Key Considerations For Build-To-Rent Developers

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    As real estate developers and investors flock to the build-to-rent asset class, they should pay attention to some key issues, such as potential conflicts with local land development codes, says Jim McNeil at Akerman.

  • La. Tax Talk: Legislature Takes On Tax Reform

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    Louisiana taxpayers may see some needed tax improvements if the Legislature enacts major proposed reforms, like the long-overdue centralization of state and local sales and use tax collection, elimination of the antiquated corporation franchise tax, and reduction of income tax rates, say attorneys at Kean Miller.