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Real Estate

  • August 29, 2018

    Westgate Resort, Castle Law Resolve Timeshare Suit

    A Florida federal judge signed off Wednesday on a final order resolving all claims in an acrimonious dispute brought by Westgate Resort Ltd. against Castle Law Group PC, which the timeshare development company said had illegally interfered in its contracts with owners.

  • August 29, 2018

    Land Dispute Doesn't Belong In Tribal Court, ND Justices Rule

    The Supreme Court of North Dakota has ruled that a lower court properly exercised jurisdiction in a dispute over two land parcels on the Turtle Mountain Indian Reservation, holding that the situation didn’t fit either of two exceptions that would have granted the tribal court jurisdiction in the case.

  • August 29, 2018

    Investment Firms Sue US Bank Over RMBS Trust Losses

    BlackRock, Prudential and other investment firms have sued US Bank in New York state court, alleging it ignored “pervasive and systemic” issues in the underlying loan pools of 21 residential mortgage-backed securities trusts it administers, which were secured by more than $18.3 billion at the time of securitization.

  • August 29, 2018

    NJ Property Owner Accuses Engineering Firm Of Fraud

    The owner of a New Jersey property being developed as multifamily housing has sued an architectural and engineering firm in state court, alleging that it defrauded its onetime client of more than $500,000 by misusing money that the client had paid for the project.

  • August 29, 2018

    Greenberg Traurig Boosts Firm With Ex-Squire Patton Tax Atty

    Greenberg Traurig LLP has announced that a former Squire Patton Boggs LLP partner experienced in federal and state income tax matters has joined the firm as a shareholder in its corporate and tax practices division.

  • August 29, 2018

    Pa. High Court Denies 2 Sunoco Pipeline Zoning Appeals

    The Pennsylvania Supreme Court on Tuesday denied two appeals challenging a lower court’s ruling that local zoning ordinances do not stand in the way of Sunoco Pipeline LP’s controversial Mariner East 2 natural gas pipeline without providing additional reasoning.

  • August 29, 2018

    Ala. City Establishes Voluntary Tax Agreement With Airbnb

    The short-term rental giant Airbnb will begin voluntarily collecting and remitting lodging tax to the city of Birmingham, Alabama, on Oct. 1 under an agreement that the City Council has approved.

  • August 29, 2018

    Gibson Steers News Corp's $210M Real Estate Tech Co. Buy

    Gibson Dunn & Crutcher LLP represented News Corp in connection with its Realtor.com-operator subsidiary's $210 million acquisition, announced Wednesday, of real estate technology platform Opcity, which received guidance from Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP.

  • August 29, 2018

    Real Estate Rumors: WeWork, Henley, Blackstone

    WeWork is reportedly nearing a deal to take as much as 500,000 square feet in New York, Henley's U.S. division is said to have dropped $20 million on a Miami hotel, and a Blackstone affiliate has reportedly bought a Florida grocery-anchored shopping center for $34.5 million.

  • August 29, 2018

    Ross Stores Inks 1M-Square-Foot Industrial Lease In Calif.

    Ross Stores Inc. has leased more than 1 million square feet of space from Wonderful Real Estate at an under-development industrial park in Shaftner, California, according to an announcement from Wonderful Real Estate on Wednesday.

  • August 28, 2018

    OCC Seeks Input On Lending Regs For Underserved Areas

    The Office of the Comptroller of the Currency kicked off a process Tuesday that could lead to an overhaul of regulations around bank lending in underserved areas, drawing praise from industry groups that say the rules need modernizing and pushback from community groups that say any reform shouldn’t weaken existing standards.

  • August 28, 2018

    Millennium, Salesforce Towers Duke It Out Over Tilting Woes

    The homeowners’ association at the tilting Millennium Tower told a San Francisco judge Tuesday that it shouldn’t be on the hook for construction, insurance and litigation costs incurred by the nearby, recently completed Salesforce Tower, which purportedly had to deal with extra costs stemming from the Millennium Tower’s sinking woes.

  • August 28, 2018

    Landfill Operator Must Face Theft Charges, NJ Court Says

    An administrative consent order between a New Jersey agency and a private entity constitutes a “contract” for the purposes of supporting criminal charges stemming from alleged violations, the state appeals court ruled Tuesday in a published opinion reviving the government’s allegations that it was duped by the operator of a defunct landfill.

  • August 28, 2018

    Japanese-American Group Can't Block WWII Camp Land Sale

    A California federal judge has denied a bid from a nonprofit group representing descendants of Japanese-Americans interned in camps during World War II to temporarily bar a California city's sale of a parcel of land that had been part of one of the camps to the Modoc Tribe of Oklahoma.

  • August 28, 2018

    Real Estate Rumors: Pan Am Equities, Sterling Bay, KKR

    Pan Am Equities has reportedly landed $60.6 million in financing for four New York projects, Sterling Bay is said to have picked up a Chicago warehouse for $2.7 million, and a KKR venture has reportedly received $141.5 million in financing for an office tower in Oakland, California.

  • August 28, 2018

    Estefan Eatery Takes $2.4M Coverage Bid To 11th Circ.

    Famed musicians Gloria and Emilio Estefan's Miami restaurant, Larios on the Beach, asked the Eleventh Circuit to revive its bid for $2.4 million in property damage coverage, asserting that the lower court erred by favoring the insurer based on an argument that wasn't raised by the parties.

  • August 28, 2018

    'Securities Fraudster' Money Can't Pay Law Firm, SEC Says

    The U.S. Securities and Exchange Commission urged an Illinois federal judge Tuesday to disregard Braganca Law LLC’s bid for attorneys' fees in a suit claiming real estate investment firm Equitybuild Inc. is really just a $135 million Ponzi scheme, saying “securities fraudsters cannot use investor proceeds to fund their legal defense.”

  • August 28, 2018

    Moody's Agrees To Pay $16.3M To Settle SEC Ratings Probes

    Moody's Investors Service Inc. on Tuesday agreed to pay $16.25 million to settle U.S. Securities and Exchange Commission charges accusing the credit ratings agency of internal control lapses regarding its method for rating mortgage bonds, plus alleged deficiencies involving its application of credit rating symbols.

  • August 28, 2018

    Hogan Lovells, Skadden Steer Brixmor's $250M Notes Offering

    Hogan Lovells represented retail real estate investment trust Brixmor Property Group Inc. in connection with a $250 million notes offering, priced on Tuesday, by Brixmor's operating partnership, while Skadden Arps Slate Meagher & Flom LLP worked on the deal as counsel to the underwriters.

  • August 28, 2018

    Japan Retail Fund Investment Paying $50M For Chiba Property

    Japan Retail Fund Investment Corp. is buying a trust beneficiary right in a pair of buildings in Chiba, Japan, for 5.52 billion yen ($49.7 million), according to an announcement from the company on Tuesday.

Expert Analysis

  • Making Use Of NYC's Voluntary Inclusionary Housing Program

    Patrick O'Sullivan Jr.

    New York City's Voluntary Inclusionary Housing Program can help create or preserve affordable housing, but it requires careful coordination between an affordable housing owner, the NYC Department of Housing Preservation and Development, the preservation project lender and air rights purchasers, say Patrick O'Sullivan Jr. and Michael Smith of Herrick Feinstein LLP.

  • Managing The Risks Of Emerging Construction Technologies

    Gary Brown

    As buildings incorporate increasingly advanced features, the risks associated with technology failures — and resulting defect claims against those involved in the buildings' design and construction — become greater. Owners and contractors presenting these technologies to end users should explore nontraditional approaches in contracts and insurance to better mitigate these risks, says Gary Brown of Saul Ewing Arnstein & Lehr LLP.

  • Get Your Mass. Brownfields Tax Credits For 5 More Years

    Ned Abelson

    With the finalization of the Massachusetts housing bond bill at the end of last month, the brownfield tax credit is now available for an additional five years to certain taxpayers who clean up qualifying sites. This article, from attorneys at Goulston & Storrs, provides a brief summary of the Massachusetts brownfields tax credit and the requirements to obtain it.

  • Myths And Facts About Using TAR Across Borders

    John Tredennick

    Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.

  • Top 6 IRS Attacks On Conservation Easement Deductions

    Gregory Rhodes

    Even inconspicuous technical deficiencies in drafting or tax return preparation may render a conservation easement valueless for federal income tax purposes. Donors of conservation easements should be particularly mindful of six issues the IRS has recent held in its sights, say Gregory Rhodes and Tucker Thoni of Sirote & Permutt PC.

  • Roundup

    From Lawmaker To Lawyer

    From Lawmaker To Lawyer

    Earlier this year, Rep. Trey Gowdy, R-S.C., made headlines with his decision to leave Congress and return to law. ​​In this series, former members of Congress who made that move discuss how their experience on the Hill influenced their law practice.

  • Considering The Uncertain Future Of The EB-5 Program

    Bruce Meyerson

    After multiple extensions, the EB-5 visa program is set to expire on Sept. 30. The uncertainty of the program's future and proposed changes to minimum threshold investments have led developers to increase their fundraising efforts prior to the deadline, and they may cut back on use of EB-5 funds going forward, say Bruce Meyerson and David Coombs of Goulston & Storrs PC.

  • Opinion

    A Trump Supreme Court Nominee Can Be Defeated

    Nan Aron

    The Senate Republican leadership and the Trump administration are racing to fill Justice Anthony Kennedy’s spot on the U.S. Supreme Court. Does opposition to their plans have any chance of success? My answer is yes, because the stakes are so high, people are so engaged, and the records of those short-listed are so deeply troubling, says Nan Aron, president of Alliance for Justice.

  • Limiting Law Firms' Professional Liability Risks: Part 3

    Stuart Pattison

    As clients increasingly look to limit their own liability exposure, they can reasonably expect that their retained counsel should do the same. In this context, a carefully crafted, thoughtfully presented engagement letter can help a law firm strike a successful balance between protecting itself and preserving a client relationship, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • New Stats On Millennial Attorney Disciplinary Actions

    Jean Edwards

    In this analysis of disciplinary action trends in the legal industry, Edwards Neils LLC managing member Jean Edwards examines data provided by bar organizations for 17 states and the District of Columbia.