Real Estate

  • December 03, 2021

    5th Circ. Won't Enforce $18B Saudi Oil Award

    The Fifth Circuit on Thursday refused to enforce an $18 billion arbitral award against state-owned Saudi Aramco on sovereign immunity grounds, although it opted not to opine on the alleged "shenanigans" that plagued the underlying arbitration.

  • December 03, 2021

    BofA Accepts $1.2M Deal To End Mortgage Title Kickback Suit

    Bank of America has agreed to pay $1.2 million to end a class action suit claiming it participated in a kickback scheme with a mortgage title company in Maryland.

  • December 03, 2021

    3rd Circ. Opens Door To Reviving Zillow Antitrust Claims

    The Third Circuit on Friday said a New Jersey federal judge was right to toss a company's antitrust claims that Zillow gave certain properties a competitive edge by not prominently displaying their market value estimates near the asking prices, but concluded that the business should have been given another chance to pursue its case.

  • December 03, 2021

    Norwegian Real Estate Biz Entra Buys Office Owner For $1.5B

    Norwegian real estate firm Entra ASA said Friday it's buying office building owner and developer Oslo Areal for 13.55 billion Norwegian kroner (about $1.48 billion) from a pair of Scandinavian investors.

  • December 03, 2021

    Real Estate Rumors: City National, HIG, Century Homebuilders

    City National Bank of Florida has reportedly loaned $34 million for a Florida manufactured housing project, an HIG Realty Partners venture is said to have scored $163.3 million in financing for a New York state industrial project and Century Homebuilders Group has reportedly sold a Miami office property for $47.5 million.

  • December 03, 2021

    Uncertainty Makes Insuring 3D-Printed Construction Tricky

    Contractors are increasingly using additive manufacturing, which is better known as 3D printing, in construction projects, and although experts believe the use of this novel building technique may create cost savings and benefit the environment, the unknown risks make underwriting these projects a challenge.

  • December 03, 2021

    Convicted Atty Disbarred In NJ Over Mortgage Fraud Scheme

    The New Jersey Supreme Court has yanked the state law license of an attorney over her criminal convictions for taking part in a roughly $873,000 mortgage fraud scheme where a lender provided loans based on her misrepresentations as the buyers' counsel, rejecting her bid for a suspension.

  • December 03, 2021

    Chicago Apartment Escapes COVID-19 Refund Suit For Now

    An Illinois state court judge on Friday dismissed a proposed class action suit brought against a Chicago luxury apartment building by tenants seeking a partial refund on rent payments, suggesting that the claims over the building's COVID-19-related common area closures might be better suited for a breach of contract suit.

  • December 03, 2021

    Real Estate Lawyers On The Move

    Polsineli, CMS, Cole Schotz and Dykema are among the various law firms that have made recent real estate or construction hires.

  • December 03, 2021

    Philly Real Estate Atty Leaves Morgan Lewis For Blank Rome

    A Philadelphia real estate attorney has left Morgan Lewis & Bockius LLP after nearly 20 years and joined Blank Rome LLP to take advantage of the firm's full-service platform.

  • December 03, 2021

    NJ Township Atty Steps Down After Making Racist Joke

    Montclair, New Jersey's township attorney, Ira Karasick, has stepped down from his role this week, after admitting that he made a "stupid, insensitive remark" in front of several Black township residents while he was in Trenton arguing in an appeal related to a rent control case.

  • December 03, 2021

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Nintendo take on U.K. internet providers, collapsed TV company Arena take on its directors, and major fashion brands chase MasterCard for swipe fees. Here, Law360 looks at those and other new claims in the U.K.

  • December 03, 2021

    Kossoff Accused By DA Of $14M Escrow Theft, To Plead Guilty

    New York City real estate attorney Mitchell Kossoff, of the defunct Manhattan law firm Kossoff PLLC, surrendered to authorities Friday on accusations that he stole $14 million of clients' escrow money. His attorney said Kossoff would plead guilty.

  • December 02, 2021

    NY Atty Gets 57 Months Over Theft Of Girl's Inheritance

    A Long Island attorney who allegedly stole $2 million in wrongful-death inheritance from his client's minor granddaughter was sentenced to 57 months in prison and ordered to pay forfeiture and restitution on Thursday, in what the young victim's attorney called "cold justice."

  • December 02, 2021

    Blackstone REIT Lands $690M In Financing From 2 Banks

    Wells Fargo Bank NA and United Overseas Bank have provided $690 million in financing to Blackstone Real Estate Income Trust for a portfolio of properties that spans multiple states and various asset classes, according to an announcement Thursday from borrower-side broker Jones Lang LaSalle.

  • December 02, 2021

    Ga. Residents Fight Site Owner's Bid To Escape Cancer Suits

    Georgia residents alleging that a Sterigenics sterilization plant exposed them to carcinogenic emissions are fighting an attempt by the site's landlord to escape the suit, arguing that the landlord was responsible for building repairs and that fewer emissions would have escaped the facility had it been properly maintained.

  • December 02, 2021

    Real Estate Rumors: Lennar, Facebook, Presidente

    Lennar has reportedly sold a Florida development site for $13.24 million, Facebook is said to have leased roughly 1.2 million square feet in California, and Presidente Supermarkets reportedly hopes to build a mixed-use project in southern Florida.

  • December 02, 2021

    McNees Wallace Adds 8-Atty Firm To Launch Pittsburgh Office

    McNees Wallace & Nurick LLC has absorbed western Pennsylvania construction, real estate and corporate-focused boutique Blumling & Gusky LLP and used that firm's eight attorneys to form a branch in Pittsburgh.

  • December 02, 2021

    Real Estate Fraudster Gets 5 Years In $58M Rip-Off Of Clients

    A Manhattan federal judge hit a Connecticut fund manager who bilked more than 330 investors out of $58 million with five years in prison Thursday, saying the defendant didn't fully take responsibility despite admitting that he touted bogus real estate opportunities.

  • December 02, 2021

    House Passes Bill Allowing Feds To Hold Tribal Lands In Trust

    The U.S. House of Representatives passed a bill that would ensure that tribal trust lands retain their status under the federal government, reaffirming the authority of the Secretary of the Interior to take land into trust for Native American tribes.

  • December 02, 2021

    Greenberg Traurig Snags Fla. Public Finance Transaction Atty

    Greenberg Traurig PA added a new of counsel to its Tallahassee office in an effort to expand the firm's real estate and public finance and infrastructure practice.

  • December 02, 2021

    Crown Spurns $6.2B Blackstone Bid, Is Open To Further Talks

    Australian resort and casino operator Crown Resorts Ltd. said Thursday that Blackstone's AU$8.5 billion (US$6.2 billion) takeover proposal is not compelling, and invited the private equity giant to view nonpublic information as part of due diligence ahead of potentially making a stronger offer.

  • December 01, 2021

    Cole, Mintz Levin Steer $84M Boston-Area Multi-Housing Sale

    Cole Schotz represented Invictus Real Estate Partners in connection with its $84.35 million purchase of a Revere, Massachusetts, apartment complex from Mintz Levin-counseled Westbrook Partners, a matter sell-side broker Jones Lang LaSalle announced Wednesday.

  • December 01, 2021

    Buchanan Ingersoll Atty Gets Fees In Malpractice Suit

    A Florida appeals court ruled Wednesday that a Buchanan Ingersoll & Rooney PC attorney who dodged legal malpractice claims from a prominent Miami developer can collect attorney fees and costs under the state's offer-of-judgment statute.

  • December 01, 2021

    House Transpo Chair DeFazio Won't Seek Reelection

    U.S. Rep. Peter DeFazio, the longtime Democrat from Oregon and chairman of the House Transportation and Infrastructure Committee, announced Wednesday that he will not seek reelection next year, stepping away from Capitol Hill after serving 36 years in the House.

Expert Analysis

  • Why New Phase I Site Standard Matters For Real Estate

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    As an update to the preeminent standard for Phase I environmental site assessments — an essential part of transactional due diligence — is rolled out, parties to real estate transactions should adopt the new standard if they wish to claim liability protections under the Superfund law, say Lorene Boudreau at Ballard Spahr and Mitchell Wiest and Sara Redding at Roux.

  • Science-Based Definition Of US Waters Won't Pass In Court

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    The U.S. Environmental Protection Agency and the U.S. Army Corps of Engineers recently proposed a science-backed definition of "waters of the United States" for the Clean Water Act, but the U.S. Supreme Court is unlikely to be persuaded that science trumps a constitutional or statutory limit on the EPA's and the Corps' authority, says Jeffrey Porter at Mintz Levin.

  • What Justices' Groundwater Ruling Means For State Disputes

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    The U.S. Supreme Court's recent decision in Mississippi v. Tennessee aids future negotiations over interstate groundwater resources, both by explicitly informing states what the default rule is, and by implicitly giving states authority to trade off water rights across a broader spectrum of water resources, says Robin Craig at USC Gould School of Law.

  • The Implications Of COP26 For Legal Practitioners

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    Developments at the recent United Nations Climate Change Conference will create both opportunities and risks for lawyers — with many new laws, regulations and industry best practices to track, and a growing pipeline of new energy and infrastructure projects to facilitate, say Caroline May and Charles Winch at Norton Rose.

  • 2 Insurance Rulings Showcase Trend Favoring Appraisal

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    Two recent decisions from a Florida state court and the Tenth Circuit are consistent with the purpose of, and overwhelming judicial preference toward, appraisal as a means of property claim resolution, ensuring that policyholders have further support in employing this tool against a reluctant insurer, say Matthew Weaver and Jessica Gopiao at Reed Smith.

  • Without Leadership Buy-In, Law Firm DEI Efforts Stand To Fail

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    A law firm's diversity, equity and inclusion strategies need the full attention and support of its top leadership to succeed, and requiring the firm's key decision makers to join the DEI committee can make the difference, says Noble Allen at Hinckley Allen.

  • Ohio Tax Talk: Property Tax Bill May Affect School Revenues

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    A bill pending in the Ohio Legislature proposing changes to the real property tax valuation process could lead to a decrease in school district challenges to property tax adjustments — and therefore a dip in the school districts' property tax revenues, says Yazan Ashrawi at Frost Brown.

  • Series

    Confronting Origination Credit: Self-Advocacy Tips For Attys

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    Female lawyers and lawyers of color have historically not been privy to the rules of the origination credit game, but they can employ various strategies to increase the chances of receiving the credit they are due, such as enlisting allies for support and tracking inequity patterns, says Marianne Trost at The Women Lawyers Coach.

  • A Real-World Guide To Staying Discovery In Federal Court

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    Pleas for stay of discovery under the Federal Rules of Civil Procedure are often rejected when motions to dismiss are pending due to a tenacious tangle of case law, imposing financial and administrative burdens on parties, but some unambiguous rules of thumb can be gleaned to maximize the chances of a discovery stay, says Amir Shachmurove at Reed Smith.

  • Opinion

    US Needs Strategy On Unwinding Eviction Moratorium

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    A national set of eviction rules from the Biden administration remains the best U.S. hope for preventing uneven responses and unequal COVID-19 recovery throughout the country, as the end of the federal moratorium threatens an onslaught of eviction actions and bankruptcy filings, say Jonathan Carson and Eric Kurtzman at Stretto.

  • Texas Insurers' Paths To Post-Appraisal Summary Judgment

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    Despite Texas insurance law changes that have altered the interaction between appraisal awards and certain extracontractual claims, recent state and federal court decisions show insurers still have options for summary judgment on policyholders' claims after the entry of an appraisal award, say Michael O'Brien and Claire Fialcowitz at Zelle.

  • Mitigating Inflation's Impact On Commercial Contracts

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    As accelerating inflation threatens to turn many commercial contracts unprofitable for sellers, lessors and lenders, prospects of court relief are slim, but certain contract clauses and revisions can help, says Jonathan Hugg at Schnader Harrison.

  • Heed These Rules, Or Risk Your Argument On Appeal

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    Failing to meet the scattered requirements for appellate preservation can have dire consequences, so litigants must understand the relevant briefing rules, the differences between waiver and forfeiture, and the four components of a pressed argument in order to get their case fully considered on appeal and avoid sanctions or dismissal, says Michael Soyfer at Quinn Emanuel.

  • What To Include In Orders Governing Remote Arbitration

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    When conducting remote arbitration, attorneys should negotiate written orders that spell out clear rules on technology accommodations, document handling, witness readiness and other key considerations to ensure parties' rights are protected and the neutral's time is not wasted, say Matthew Williams and Christina Sarchio at Dechert.

  • Series

    Embracing ESG: CBRE GC Talks Effective Compliance Emails

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    Good corporate governance requires communicating expectations for ethical conduct, but compliance emails need not be overly technical — a relatable story told in simple language with humility and respect can create internal communications that drive home the message, says Laurence Midler at CBRE.

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