Real Estate

  • March 19, 2018

    Fla. High Court Urged To Reverse Foreclosure Fees Precedent

    A Florida woman is urging the state's highest court to reverse a precedent-setting appeals court decision that said she could not invoke an attorneys' fees provision after prevailing in a foreclosure suit because the noteholder failed to establish standing, arguing that position encourages wrongful actions.

  • March 19, 2018

    Baird & Warner Sued Over Allegedly Fake Sales Figures

    Chicago-area real estate company At World Properties LLC sued Baird & Warner Real Estate Inc. in Illinois federal court Monday, alleging the competitor engaged in false advertising that exaggerated its position in the marketplace and threatened its own business.

  • March 19, 2018

    Weil, Davis Polk Steer $1.2B Fidelity-Stewart Deal

    Weil Gotshal & Manges LLP represented Fidelity National Financial Inc. in connection with its $1.2 billion acquisition of Davis Polk & Wardwell LLP-counseled global real estate services company Stewart Information Services Corp., a matter the firms announced on Monday.

  • March 19, 2018

    Aeropostale Ch. 11 Lender Releases Seem OK, Judge Signals

    The judge presiding over Aeropostale’s bankruptcy case said Monday he needs more time to render an opinion on the third-party litigation releases in the company’s Chapter 11 liquidation plan, but added he believes substantial contributions were made by the company’s term loan lenders seeking the releases.

  • March 19, 2018

    Real Estate Rumors: WeWork, Amazon, Citi

    WeWork reportedly leased 55,000 square feet in Hong Kong, Amazon executives are said to be traveling to Chicago later this week to discuss a possible second headquarters in the Windy City, and Citi is said to have loaned $28 million for a recent retail purchase in Orlando.

  • March 19, 2018

    REIT Hammerson Rejects Klepierre's $6.9B Acquisition Offer

    Hammerson PLC has rejected a £4.88 billion ($6.86 billion) takeover offer from fellow real estate investment trust Klepierre SA, with news of the takeover rejection, announced on Monday, sending the U.K. REIT's shares soaring more than 25 percent.

  • March 19, 2018

    Deals Rumor Mill: Dropbox, Saudi Aramco, ARM

    Dropbox’s planned IPO is oversubscribed, state-run oil giant Saudi Aramco hopes to buy a majority stake in a proposed refinery and petrochemical complex in the western Indian state of Maharashtra, and Softbank Group may relist U.K. semiconductor company ARM less than two years after having acquired the business.

  • March 16, 2018

    Fla. Property Investors Urge Cert. In $157M Fraud Suit

    Investors urged a Florida federal court Friday to grant class certification in their suit claiming they lost nearly $157 million invested through Cabot Investment Properties LLC as a result of an embezzlement scheme run by its executives and allegedly supported by property manager CBRE Inc. and others.

  • March 16, 2018

    Acuity Off Hook For Damage Due To 'Earth Move' Clause

    An Illinois federal judge on Thursday held that an “earth movement” exclusion in a commercial building's insurance policy barred Acuity Mutual Insurance Co. from covering its client’s repair costs for damage done to the building.

  • March 16, 2018

    Test Of Percoco Verdict Will Shape Corruption Law

    New York Gov. Andrew Cuomo’s former aide Joseph Percoco took a blow recently in one of the first trials to produce a bribery conviction post-McDonnell, but its impact on public corruption cases will depend on whether such jury verdicts can pass muster before more discerning appeals courts.

  • March 16, 2018

    Miami Renter Battles Condo Association Over Fees

    A putative class of renters battling a Miami condominium association over purportedly illegal application and move-in fees argued Friday over whether a reference in the association’s bylaws to compliance with the Florida Condominium Act is enough to show the association knew it was violating the law.

  • March 16, 2018

    IRS Says It's Protected From Trustee's $3.6M Clawback Suit

    The IRS is pushing back against the $3.6 million clawback suit brought by the bankruptcy trustee of doomed Ponzi vehicle DBSI Inc., telling an Idaho federal court the tax agency is merely a “conduit,” no different from a bank, and therefore immune to this type of avoidance action.

  • March 16, 2018

    BofI Gets Early Exit From Securities Class Action

    A California federal judge on Thursday tentatively dismissed with prejudice the latest attempt by investors to sue the holding company of BofI Federal Bank for allegedly making false or misleading statements to the public, finding the investors still hadn’t linked stock value losses to the alleged misrepresentations.

  • March 16, 2018

    Real Estate Rumors: Westbrook, AJ Capital, Carpe

    Westbrook Partners has reportedly taken a stake in an HFZ Capital New York project, AJ Capital is said to have scored $60 million in financing for a Roosevelt Island hotel project, and Carpe Real Estate Partners has reportedly bought a Miami development site for $14 million.

  • March 16, 2018

    Liberty Property Trust Makes 2 Pennsylvania Sales For $107M

    Liberty Property Trust has sold a number of properties in Pennsylvania through two separate transactions for a combined $106.9 million, according to an announcement on Friday from the Malvern, Pennsylvania-based real estate investment trust.

  • March 16, 2018

    Winn-Dixie, Bi-Lo Parent To File Ch. 11, Close 94 Stores

    Southeastern Grocers LLC, the parent company of supermarket chains including Winn-Dixie and Bi-Lo, announced Thursday that it will be reorganizing in bankruptcy to decrease its overall debts by more than $500 million and will be closing nearly 100 store locations across seven states.

  • March 16, 2018

    5Pointz Artists Want $2.6M In Attys’ Fees After Big Win

    Following a ruling that a New York City developer violated federal law when he demolished the famed graffiti space 5Pointz, the street artists behind the site demanded Thursday he repay their whopping $2.6 million legal bill.

  • March 16, 2018

    Bascom Group Drops $75M On Calif. Apartment Complex

    The Bascom Group LLC has acquired an apartment complex in Oxnard, California, for $75.25 million, according to an announcement on Friday from the private equity firm.

  • March 16, 2018

    A Chat With Littler Info Chief Durgesh Sharma

    In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Durgesh Sharma, chief information officer at Littler Mendelson PC.

  • March 15, 2018

    Globalworth Subsidiary Snags Poland Property For $68M

    A subsidiary of Globalworth Real Estate Investments Ltd. has acquired Warta Tower, an office tower located in Warsaw, Poland, for €55 million ($68 million), the company said Thursday.

Expert Analysis

  • Unique Office-Leasing Issues For Tech Companies: Part 1

    Excerpt from Lexis Practice Advisor
    Daniel Suckerman

    When negotiating leases for office space, technology companies should pay particular attention to use and operations issues like permitted use provisions, density limits and building services and amenities, says Daniel Suckerman of Lowenstein Sandler LLP.

  • Changes To Rule 23 Are Coming, Are You Prepared?

    Niki Mendoza

    Proposed amendments to the Federal Rules of Civil Procedure Rule 23, which governs class actions, are set to take effect on Dec. 1, 2018, pending approval. The amendments would significantly alter class action litigation procedure from notice to settlement, says Niki Mendoza of Garden City Group LLC.

  • How To Negotiate Wireless Infrastructure Agreements

    Walt Sapronov

    When negotiating shared wireless infrastructure contracts in large venues, sponsors should pay close attention to technology specifications, upgrades and interference protection, say Walt Sapronov and Kenneth Klatt of Sapronov and Associates PC.

  • Tax Planning In The Age Of Tax Reform: Part 2

    Ellen McElroy

    Businesses face challenges in implementing the Tax Cuts and Jobs Act, especially given its size and scope and the ambiguities that remain regarding its application. Unfortunately, if administrative guidance and technical corrections are not issued soon, companies may lose valuable rights, say attorneys with Eversheds Sutherland LLP.

  • Lessons From Recent Developers' Win In Fla. Condo Case

    Glen Waldman

    Prive Developers prevailed in its claim against William Island Property Owners' Association by successfully showing that the stigma of litigation caused damages due to increased financing costs, additional construction costs, and additional sales and marketing costs, say attorneys with Waldman Barnett PL and Barry Mukamal of KapilaMukamal LLP.

  • What To Expect From DOJ Shift In Marijuana Enforcement

    Gerald Sachs

    Under the U.S. Department of Justice's new marijuana enforcement strategy, the DOJ is unlikely to begin prosecuting marijuana growers and distributors who are operating in compliance with state law. The DOJ will likely prosecute the most egregious violators of state law, say Gerald Sachs and Evan Shea of Venable LLP.

  • Lawyering A La Carte: Unbundled Dispute Resolution Services

    David Wallace

    There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.

  • Bitcoin: A New, Volatile Asset In Bankruptcy

    Erin Jane Illman

    Given the mainstream use of bitcoin and the “staying power” of this cryptocurrency, bankruptcy practitioners need to prepare to see bitcoin as part of the assets in future bankruptcy cases. The volatility of bitcoin value, however, will require bankruptcy courts and parties to come up with creative solutions, say Erin Illman and Robert Cox of Bradley Arant Boult Cummings LLP.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.

  • In Lakeridge, Concurring Justices Take The Spotlight

    Steven Wilamowsky

    The U.S. Supreme Court last week held in Village at Lakeridge that the appropriate standard for determining nonstatutory insider status in bankruptcy is the clearly erroneous standard that was applied by the Ninth Circuit. But the concurring opinions, which address an issue that was not before the court, appear to be more significant, say Steven Wilamowsky and Aaron Krieger of Chapman and Cutler LLP.