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Real Estate

  • 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.

  • August 28, 2018

    Ponca Tribe Casino Gets Proposed Oct. Opening Date

    The Ponca Tribe of Nebraska has announced that by late October it expects to open a casino on a tract of land in Iowa, even though a lawsuit challenging the federal government's decision to allow the tribe to operate the casino is still ongoing.

  • August 27, 2018

    Landlords Can Be Liable For Tenants' Discrimination: 7th Circ.

    The Seventh Circuit on Monday revived a lesbian woman’s suit alleging an Illinois retirement community’s staff turned a blind eye to homophobic harassment she received from her fellow residents, ruling the Fair Housing Act creates liability for landlords that know of discriminatory harassment and do nothing.

  • August 27, 2018

    NYC Real Estate Week In Review

    More than a dozen law firms assisted with the largest New York City deals for which deeds became public last week, a group of transactions that included several deals for properties in Manhattan's Upper East Side.

  • August 27, 2018

    NY Agency Says Kushner Cos. Falsified Construction Permits

    The New York City Department of Buildings says it issued violations carrying $210,000 in potential fines Monday to Kushner Cos., the real estate firm owned by the family of President Donald Trump’s senior adviser and son-in-law Jared Kushner, for false filings on construction permit applications.

  • August 27, 2018

    Real Estate Rumors: Fortis, WeWork, BofA

    Fortis Property Group is reportedly listing a Long Island condo tower for $113 million, WeWork is said to be leasing nearly 7,000 square feet in New York, and Bank of America has reportedly loaned $20 million for refinance and renovations at a Florida hotel.

  • August 27, 2018

    $300M Brennan Investment JV Acquires 3-Building Portfolio

    Real estate investment firm Brennan Investment Group LLC said on Monday that it has acquired a three-building portfolio totaling 500,081 square feet in Green Bay, Wisconsin, and Northeastern Pennsylvania via a $300 million net leased joint venture with Arch Street Capital Advisors.

  • August 27, 2018

    Foley & Lardner Beats RICO Suit At 9th Circ.

    The Ninth Circuit has refused to revive a woman’s lawsuit accusing a California school district and its attorneys at Foley & Lardner LLP of violating the Racketeer Influenced and Corrupt Organizations Act by suppressing evidence during a dispute after the district attempted to procure her land under eminent domain.

  • August 27, 2018

    LaSalle Mulls Competing Offer To $4.8B Blackstone Deal

    Maryland-based LaSalle Hotel Properties said Monday that a sweetened buyout offer from Pebblebrook Hotel Trust could top its current $4.8 billion deal, including debt, with Blackstone Group LP, stoking a bidding war over the hotel-focused real estate investment trust.

  • August 27, 2018

    GSA Underpriced Revised FBI HQ Plan, Watchdog Says

    The U.S. General Services Administration’s contentious multibillion-dollar plan to rebuild the FBI headquarters in Washington, D.C., will cost more than an earlier plan to move the FBI to the D.C. suburbs, an agency watchdog said Monday, calling into doubt one of the major reasons behind the revised rebuilding plan.

  • August 27, 2018

    HomeAway Cries Foul Over New NYC Short-Term Rental Law

    HomeAway.com Inc. hit New York City with a suit in federal court challenging a new ordinance requiring the vacation rental website to disclose private business records and hand over home-sharing hosts’ personal data, claiming the law violates the rights of the company and its users under both the U.S. and New York constitutions.

  • August 27, 2018

    On Harvey Anniversary, Voters OK $2.5B Flood Bond Package

    On the anniversary of the day Hurricane Harvey hit the coast of Texas, voters in Harris County on Saturday overwhelmingly approved a $2.5 billion bond package that will be used both to mitigate future flooding in Houston and the surrounding area and to aid in ongoing recovery efforts.

  • August 27, 2018

    Australia's IOF Draws Sweetened AU$3B Blackstone Deal

    Australia’s Investa Office Fund revealed Monday that the Blackstone Group agreed to sweeten its takeover offer for the real estate investment trust to AU$3.26 billion (US$2.39 billion), after the private equity firm indicated last week it was willing to increase its bid.

  • August 27, 2018

    Xenia Drops $100M For Denver Ritz-Carlton Hotel

    Xenia Hotels & Resorts Inc. on Monday said it will pay $100.25 million to take over a Ritz-Carlton hotel in Denver in an effort to further expand the real estate investment trust’s luxury and upscale hotel offerings.

  • August 24, 2018

    REIT Can't Intervene In $8M Retirement Fund Arbitration

    A retirement fund won its bid in Illinois federal court Friday to toss a hotel real estate investment trust’s suit seeking to vacate a decision denying it the right to intervene in an arbitration over $8 million owed to the fund by a previous property manager, with the judge ruling the REIT isn’t a party in the dispute.

Expert Analysis

  • 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.

  • In A Health Provider Restructuring, Beware The Master Lease

    Steven Horowitz

    A health care operator in financial distress may consider a number of nonbankruptcy options to streamline its operations, dispose of underperforming assets and improve its position. However, an operator with significant assets in a master lease may find that the lease imposes a variety of restrictions, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 2

    Stuart Pattison

    With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: Prioritizing Is Always Key

    Joe Lieberman

    Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 1

    Stuart Pattison

    Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: How Congress Affected My Career

    Yvonne B. Burke

    Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.

  • Series

    From Lawmaker To Lawyer: DC Isn't As Bad As You Think

    Norm Coleman

    Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.

  • New, Improved Rules For 'High Volatility' Real Estate Loans

    Martin Taylor

    The new Economic Growth, Regulatory Relief and Consumer Protection Act reforms widely unpopular rules relating to high volatility commercial real estate loans, making it easier to reclassify loans as non-HVCRE acquisition, development and construction loans, say Martin Taylor and Jon Nomura of Troutman Sanders LLP.