Real Estate

  • March 24, 2017

    Homeowner Wins $1.3M Against Ameriprise In Bad Faith Case

    A California state jury on Thursday awarded a homeowner more than $1.3 million in his dispute with an Ameriprise insurer over vandalism coverage, finding that the insurance company had failed to pay policy benefits and engaged in bad faith conduct.

  • March 24, 2017

    Taxation With Representation: Latham, Kirkland, Simpson

    In this week’s Taxation With Representation, Capitol Acquisition combined with Cision to go public in a $2.4 billion deal, a private equity firm acquired Checkers Drive-In Restaurants for $525 million, and a Connecticut-based data analytics service provider bought a risk management software firm for $205 million.

  • March 24, 2017

    IRS, US Trustee Object To Fees In Wyly Bankruptcy

    The Internal Revenue Service and a U.S.-appointed trustee objected on Thursday to hundreds of thousands of dollars in fees requested by lawyers and consultants for time spent on Caroline Dee Wyly’s bankruptcy case, saying the work was done in bad faith and didn’t add to the value of the estate.

  • March 24, 2017

    Ex-Mortgage Banker Gets 12.5 Years Over $30M Scheme

    The former head of a mortgage lending bank was sentenced Friday by a New York federal judge to 150 months in prison in connection with a $30 million scheme to rip off lenders by lying about property values, according to the U.S. Department of Justice.

  • March 24, 2017

    NYC Chrysler Building Owners Land $300M Loan

    An Abu Dhabi, United Arab Emirates, sovereign wealth fund and Tishman Speyer, the owners of Manhattan’s iconic Chrysler Building, have landed a $300 million refinancing for the property from National Bank of Abu Dhabi, according to property records made available Thursday.

  • March 24, 2017

    CFPB Gives Mortgage Lenders Flexibility In Fair Lending Law

    The Consumer Financial Protection Bureau on Friday proposed a rule change that would give mortgage lenders more flexibility in collecting information about the ethnicity and race of potential borrowers, potentially making it easier for lenders to comply with a key fair lending law.

  • March 24, 2017

    Wash. Tribe's Suit Contesting Hunting Grounds Gets Tossed

    A Washington federal judge on Thursday tossed the Skokomish Indian Tribe's suit accusing members of the Suquamish Tribal Council and that tribe's fisheries director of encroaching on its hunting grounds, after finding that there are crucial parties that cannot be added to the dispute.

  • March 24, 2017

    KRE Group, Partner Score NJ Rental Complex In $70M Deal

    The Kushner Real Estate Group said Thursday that it has purchased a 228-unit rental community in Springfield, New Jersey, in partnership with Avenue Realty Capital for $70 million, its third purchase of a multifamily asset in that region of New Jersey in recent months.

  • March 24, 2017

    Real Estate Rumors: Aulder, Tri Pointe, Fla. Spec House

    Aulder Capital has reportedly bought a Harlem, New York, multifamily portfolio for $23 million, Tri Pointe is said to have purchased 31.9 acres in Arizona, and a Palm Beach, Florida, spec house is reportedly under contract for its $39.5 million asking price.

  • March 24, 2017

    Pa. Landowners’ Suit To Get Fracking Project OK’d Tossed

    A Pennsylvania federal judge on Thursday dismissed a suit brought by landowners challenging the Delaware River Basin Commission’s jurisdiction over natural gas wells in the face of the governing body’s alleged de facto ban on the wells, deciding that the commission does have an oversight role and that individuals who want to extract natural gas must first seek its permission.

  • March 23, 2017

    Miami Hints At Suing Airbnb To Stop Illegal Renting

    The Miami City Commission voted Thursday to look into the possibility of suing platforms like Airbnb as a means of curbing short-term rentals in residential neighborhoods where they're prohibited by zoning laws.

  • March 23, 2017

    Cozen Continues Miami Growth With 3 Commercial Litigators

    Cozen O'Connor has continued its rapid growth in Miami, announcing the addition of three commercial litigators it says will contribute in a variety of areas, including contracts, antitrust cases, bankruptcy fraud, real estate and construction matters, and litigation involving government entities.

  • March 23, 2017

    3rd Circ. Denies Sanctions to NJ Town Against Developer

    The Third Circuit on Thursday refused a New Jersey town’s bid to sanction a developer who transferred its case alleging the municipality sabotaged a land purchase to state court, finding there was no reason to disturb a lower court’s ruling in the matter.

  • March 23, 2017

    Real Estate Rumors: Blumberg, Lightstone, Restoration

    Blumberg & Freilich Equities has reportedly bought a Chicago apartment building for $23.5 million, Lightstone is said to have scored $85.3 million for a New York project, and Restoration Hardware is in talks to lease an entire Miami building.

  • March 23, 2017

    East Texas Mineral Deed Gets Scrutiny From Texas High Court

    In a case asking the Texas Supreme Court to reinstate a trial judge’s order enforcing two deeds that convey the seller’s entire oil and gas holdings in an East Texas county, the judges on Thursday heard conflicting arguments about whether the deed itself is ambiguous.

  • March 23, 2017

    Principal Life Loans $85M For Manhattan Building

    Principal Life Insurance Co. has provided $85 million in financing to Ormonde Equities LLC for an apartment building on Broadway in Manhattan, according to records made public Wednesday in New York.

  • March 23, 2017

    GSA Says Trump Org Has Complied With Disputed Hotel Lease

    The U.S. General Services Administration on Thursday announced that the Trump Organization has complied with its $180 million lease on the federally owned Old Post Office building in Washington, D.C., after concerns that President Donald Trump’s connection to the lease may have broken a contractual clause.

  • March 23, 2017

    Cadwalader Guides Morgan Stanley's $205M NYC Loan

    Cadwalader Wickersham & Taft represented Morgan Stanley Mortgage Capital Holdings LLC in connection with its $205 million loan to an entity affiliated with real estate investor Savanna for an office building on William Street in Manhattan, according to records made public in New York on Wednesday.

  • March 23, 2017

    Zillow Wants $8.3M Verdict In Image Infringement Suit Tossed

    Real estate website Zillow on Wednesday claimed a jury erred last month when it gave a real estate photography company more than $8.3 million for its copyright violation claims against Zillow, saying it could not be held liable for images that were handled entirely by automatic systems.

  • March 23, 2017

    Texas Court Nixes BNSF Bid To Strike Oil Beneath Tracks

    A Texas appeals court on Wednesday upheld a lower court ruling that BNSF Railway Co. wasn't entitled to oil found on land beneath its railroad tracks, concluding that the terms of a 1903 deed struck between the railroad and landowners only entitled BNSF to an easement on the property's surface.

Expert Analysis

  • Expect More CFPB Scrutiny Of Nonbank Mortgage Servicers

    Craig Nazzaro

    Citigroup's plans to exit the mortgage servicing business and sell off a $97 billion portfolio to a nonbank servicer continues the trend of nonbanks capturing more market share year after year. The Consumer Financial Protection Bureau is well aware of this trend, and the call for more oversight will only get louder, says Craig Nazzaro of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • How Past And Present Aerial Photography Can Make The Case

    David Ruiz

    Many cases hinge on visual evidence. And aerial photography can play a key role, showing how geographic features or buildings looked in the past or have changed over time. Legal teams should be aware of the aerial photography resources available and the impact technological advances in the field may have on helping prove their case, says David Ruiz of Quantum Spatial Inc.

  • Google, NASA, Planes And A Stronger Legal Team

    Nicholas Cheolas

    Why did minor mechanical issues bring down two airplanes, while a catastrophic engine explosion did not bring down a third? The answers lie, in part, in research conducted by NASA in the wake of those crashes and, more recently, by Google. And those answers can help organizations build better teams to meet today’s legal industry challenges, says Nicholas Cheolas of Zelle LLP.

  • Acquiring Midstream Assets And Gas Agreements: Part 2

    Greg Krafka

    Because the value of natural gas gathering systems, processing plants and related midstream assets depends on fees to be paid under associated gas gathering and processing agreements, terms and conditions of these agreements — with respect to acreage dedication, well connections, covenants running with the land, and other matters — must be scrutinized before asset purchases, say Greg Krafka and Jim Strawn of Winstead PC.

  • Construction Projects Require Special Contracts In Nevada

    Paul Georgeson

    Standard form construction contracts and custom contracts developed for use in other states do not comply with Nevada law. When beginning a construction project in Nevada, those contracts must be modified to account for the state's unique construction statutes, says Paul Georgeson of McDonald Carano LLP.

  • 10 Tips For Better Legal Negotiations

    Marc J. Siegel

    Like everything else, the art of negotiation starts by having a conversation. It’s about being respectful, finding common ground, knowing what you want and, most importantly, listening. A conversation between two lawyers can be complicated at best, but by employing a few techniques and tactics, it doesn’t have to be that way, says Marc Siegel of Siegel & Dolan Ltd.

  • Monthly Column

    Gray Matters: Decision Error

    Gray Matters

    Lawyers make hundreds of decisions during the course of advising a client, consummating a transaction or litigating a case. In this new column, dispute resolution experts Bob Creo and Selina Shultz explore the theory, science and practical aspects of how decisions are made in the legal community.

  • Acquiring Midstream Assets And Gas Agreements: Part 1

    Greg Krafka

    In the acquisition of natural gas gathering systems, processing plants and related midstream assets, a primary focus of legal due diligence will be the gas gathering and processing agreements associated with these assets. Terms and conditions governing service levels, fees, environmental costs, termination and other issues must be carefully reviewed before purchase, say Greg Krafka and Jim Strawn of Winstead PC.

  • Law Schools And Law Firms: Seeking Common Ground

    Randy Gordon

    What we don’t know is whether the teaching and practice of law are undergoing massive structural changes or we’re still digging out from the worst economic collapse since the Depression. But what we do know is that the missions of the most forward-looking law schools and law firms are converging in ways that were unimaginable 10 years ago, says Randy Gordon, a partner at Gardere Wynne Sewell LLP and executive professor of law at Te... (continued)

  • $7B And Unclear Future For New Markets Tax Credits

    James Lang

    The New Markets Tax Credit program was recently awarded another $7 billion for community development entities to use in attracting private capital to projects in low-income areas. While the Trump administration has not yet weighed in on the program, it is noteworthy that the president himself has a history of using tax credits for development purposes, say James Lang and Justin Mayor of Greenberg Traurig LLP.