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Real Estate

  • November 15, 2018

    B&B Owner Was Allowed To Refuse Lesbians, High Court Told

    The Billy Graham Evangelistic Association and other groups have thrown their support behind a Honolulu bed-and-breakfast owner seeking U.S. Supreme Court review of a decision that she violated state public-accommodation law by refusing to rent a room to a lesbian couple, asserting that the ruling flouts the First Amendment.

  • November 15, 2018

    Pa. Justices Snub Appeal In Axed Foreclosure Fee Case

    The Pennsylvania Supreme Court said Thursday it would not hear an appeal of a decision refusing to revive class claims accusing Udren Law Offices PC of illegally collecting excessive fees in connection with mortgage foreclosure actions against homeowners.

  • November 15, 2018

    Investors Challenge $4.7B REIT Merger, Citing Filing Flaws

    Shareholders in a real estate investment trust want to put the brakes on a proposed $4.7 billion merger with another REIT, filing suit in Boston federal court Thursday saying the companies left out key information in a filing with the U.S. Securities and Exchange Commission ahead of an upcoming board vote.

  • November 15, 2018

    DLA Piper, Squire Patton Steer $1.1B Ineos-Ashland Deal

    DLA Piper represented global chemical company Ineos Enterprises in connection with its $1.1 billion purchase announced Thursday of 20 manufacturing sites and a composites business from Ashland Global Holdings Inc., a matter Squire Patton Boggs LLP helped Ashland Global with.

  • November 15, 2018

    3rd Circ. Says Fannie, Freddie Investors Not Owed Relief

    Two Fannie Mae and Freddie Mac investors are not entitled to relief in a suit alleging the Federal Housing Finance Agency diverted the companies’ profits to the government’s pockets, the Third Circuit ruled in a precedential decision on Wednesday, finding that the agency had the statutory authority to do so.

  • November 15, 2018

    Real Estate Lawyers On The Move

    DLA Piper, Dickinson Wright PLLC and McCarter & English LLP are among the law firms that made real estate or construction lawyer hires over the past month.

  • November 15, 2018

    Real Estate Rumors: Mack, SEC, Southeast Frozen Foods

    Mack Real Estate Credit Strategies has reportedly loaned $77.5 million for a New York building leased to WeWork, the SEC is said to be seeking to downsize in New York, and Southeast Frozen Foods Co. has reportedly sold a Florida warehouse for $18.77 million and subsequently leased the property back.

  • November 15, 2018

    Texas Builder Loses Bid To Ax Injunction In Water Code Row

    An order barring the developer of a 770-acre planned community north of San Antonio from adding more “impervious cover” to the property was upheld Thursday by a Texas appellate court, which agreed that landowners downstream had shown increased stormwater runoff would harm them.

  • November 15, 2018

    US State Dept. Adds 16 Hotels To Cuba Restricted List

    The U.S. Department of State has announced that it is adding 16 hotels to its “restricted list” of subentities under Cuban control, saying it added the names as part of the Trump administration’s efforts to prevent funds from reaching the Caribbean nation’s military, intelligence and security services.

  • November 14, 2018

    Schorsch, Vereit Move Ahead In $18M Chancery Fee Fight

    A Delaware vice chancellor encouraged former real estate mogul Nicholas Schorsch, a Vereit Inc. affiliate and others to soldier on Wednesday in an $18 million fee advancement dispute linked to litigation over the meltdown of American Realty Capital Partners in 2015 

  • November 14, 2018

    Transport Agency Beats Ex-Worker's Corruption Claims

    A Missouri federal judge threw out a case Wednesday that claimed a Missouri-Illinois Metropolitan District development agency cheated the government out of millions in federal funds for its operations and capital improvements, and used the money to make political paybacks, finding no evidence the agency violated federal anti-corruption laws.

  • November 14, 2018

    KKR, Macquarie Say Auction-Rigging Claims Merit Dismissal

    KKR & Co. Inc. and the Australian investment bank Macquarie told a New York state appeals panel on Wednesday that a lower court erred by failing to dismiss claims that they rigged an auction for 11 Texas apartment complexes, saying their accuser did not follow auction rules.

  • November 14, 2018

    3rd Circ. Won't Revive Stock-Drop Suit Against Ocwen Affiliate

    The Third Circuit on Wednesday affirmed the dismissal of a securities fraud class action against an Ocwen Financial Corp. affiliate whose stock tumbled following its parent company's regulatory troubles stemming from the housing crisis in the mid-2000s, ruling in a precedential decision that the suing funds didn't plausibly allege the fraud cost investors billions.

  • November 14, 2018

    Grainger To Buy Out JV Partner's Stake In REIT For £396M

    Grainger PLC has reached a deal to buy the nearly 25 percent of real estate investment trust GRIP REIT PLC it doesn't already own for £396 million ($515 million), according to an announcement on Wednesday from the U.K. residential real estate firm.

  • November 14, 2018

    Sears Battles Creditors Urging Total Liquidation

    Sears Holdings Corp. is firing back at its unsecured creditors' objections to its bidding procedures proposal, telling a New York bankruptcy court that the committee is making "uninformed" suggestions that could cost the estate billions.

  • November 14, 2018

    Real Estate Rumors: MTA, Moses & Singer, First Industrial

    The Metropolitan Transportation Authority is reportedly buying New York's Grand Central Terminal and two train lines for $35 million, Moses & Singer is said to have renewed its lease in New York's Chrysler Building, and REIT First Industrial has reportedly picked up a Florida site for $8.7 million.

  • November 14, 2018

    Wyo. Tells Justices Crow Tribe's Hunting Right Is Finished

    Wyoming urged the U.S. Supreme Court not to overturn a Crow tribe member’s state court conviction for illegal elk hunting in the Bighorn National Forest, saying the tribe and its member are trying to revive a treaty hunting right that federal courts long ago found has ceased to exist.

  • November 14, 2018

    Cargill Units For Sale As La Coop Antitrust Worries Crop Up

    Four Canadian retail locations belonging to Cargill Ltd. will be sold off to deal with antitrust concerns surrounding the company's grain business merger with La Coop fédérée.

  • November 14, 2018

    Timeshare Co. Fights Attys' Bid To Withdraw From Suit

    Timeshare resort company Orange Lake Country Club Inc. has urged a Florida federal court to deny two attorneys' request to withdraw as counsel to a lawyer mired in the company's suit claiming illegal interference in its contracts, saying the pair have too much unfinished business in court.

  • November 14, 2018

    NYC, State Seek Pause In Suit Over Real Estate Tax System

    The state and city of New York urged a state judge Wednesday to pause a suit accusing them of running a real estate tax system that is so unfair as to be unconstitutional while appeals are underway, but only won a short-term halt while the judge mulls the issue further.

Expert Analysis

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • A Breakdown Of Title Insurance For Mezzanine Financing

    Excerpt from Lexis Practice Advisor
    Spencer Compton

    Despite pessimism after the recession, mezzanine financing continues to be a part of almost every significant commercial real estate transaction. Lenders should understand the basic mezzanine debt structure and what title insurance options are available to them, say Spencer Compton and David Wanetik of First American Title Insurance Company.

  • Opinion

    A Decade After Financial Crisis, Misconceptions Remain

    Edward Stringham

    Following the 2008 economic downturn, many observers blasted mortgage-backed securities and collateralized debt obligations. Today, we're hobbled with numerous regulations that stem from a fundamental misunderstanding of what these instruments were designed to do, says Edward Stringham of the American Institute for Economic Research.

  • A Step Toward Modernizing The Community Reinvestment Act

    David Freeman

    The Office of the Comptroller of the Currency recently addressed a number of significant concerns about the Community Reinvestment Act that have been raised in recent years. Attorneys with Arnold & Porter discuss the core aspects of the existing CRA framework, the apparent priorities of the OCC in updating this framework, and next steps for industry participants.

  • Past Due Rent May Not Support A Claim For Eviction

    Jason Hirsh

    Lawyers counseling clients with respect to commercial real estate should be alarmed by 1002 E. 87th Street v. Midway, in which the Illinois Appellate Court recently held that a buyer of real estate cannot sue for rent owed prior to the real estate acquisition and that a claim for past due rent is not assignable, say Jason Hirsh and Jamie Burns of Levenfeld Pearlstein LLC.

  • 10 Questions For Upcoming Opportunity Zone Guidance

    Marc Schultz

    Last year's tax overhaul created an incentive program to encourage the investment of private capital in certain "opportunity zones" throughout the United States. The IRS is expected to issue guidance for interpreting many of the opportunity zone provisions in short order. However, the success of this program could depend upon the IRS' answers to these 10 questions, says Marc Schultz of Snell & Wilmer LLP.

  • High Court Could Settle Preemption Questions For Banks

    Jesse Tyner Moore

    Courts are still defining the power of federal financial regulators to exempt federally regulated institutions from state laws. The U.S. Supreme Court could help clarify important constitutional issues if it reviews Lusnak v. Bank of America, which is being appealed from the Ninth Circuit, says Jesse Tyner Moore of Dykema Gossett PLLC.

  • Why Escobar Materiality Rule Applies To California FCA

    Carolyn Pearce

    While California state courts have yet to directly address the issue, it is likely that the U.S. Supreme Court's Escobar standard for False Claims Act claims will — and indeed should — guide the materiality analysis under the California FCA as well, says Carolyn Pearce of Arnold & Porter.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • New Pass-Through Deduction Will Pass Over Many Lawyers

    Evan Morgan

    A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.