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Real Estate

  • December 6, 2018

    3 Firms Must Evenly Split $11.3M Fees In Century 21 Suit

    Three law firms representing Century 21 Real Estate Corp. franchisees in a class action against the company and its former parent must evenly split roughly $11.3 million in attorneys’ fees awarded in connection with a settlement in the case, a New Jersey appeals court ruled Thursday in nixing one firm’s bid for a larger share.

  • December 6, 2018

    Energy Co. Fights PE Firm's Bid To Nix $100M Oil Asset Spat

    Gravitas Resources Corp. has asked a Texas appeals court to let it move forward with a claim for more than $100 million against a private equity firm it claims used confidential information about a 40,000-acre Utah oil and gas property to poach its opportunity to buy the energy assets.

  • December 6, 2018

    11th Circ. Says Williams Partners Unit Can Quickly Take Land

    The Eleventh Circuit on Thursday upheld a Williams Partners LP unit’s move to quickly access landowners’ property and build a pipeline, aligning itself with other circuits by agreeing that pipeline companies can be given immediate access to property after the Federal Energy Regulatory Commission greenlights the project.

  • December 6, 2018

    Real Estate Rumors: Lewis Brisbois, Hamleys, Mercantil Bank

    Lewis Brisbois Bisgaard & Smith LLP is reportedly taking 24,000 additional square feet in downtown Los Angeles, British toy retailer Hamleys is said to be close to leasing roughly 30,000 square feet in New York from REIT SL Green and Mercantil Bank has reportedly loaned $10 million for a recent Florida industrial property purchase.

  • December 6, 2018

    REIT Blasts Investor's 'Meritless' Bid To Block Merger

    Select Income REIT challenged an investor’s “meritless” attempt to block its proposed merger with Government Properties REIT in New York federal court Wednesday, saying that the investor is merely following a recent trend of investor suits over company mergers and that he presents no real claim.

  • December 6, 2018

    Sabra Health Care REIT To Sell 38 Properties For $385M

    Sabra Health Care REIT Inc. has reached a $385 million deal to sell a portfolio of properties occupied by newly bankrupt Senior Care Centers, comprising 36 skilled nursing facilities and two senior housing communities, the California real estate investment trust said Thursday.

  • December 6, 2018

    Developer Can't Escape Destroyed Murals Suit, Artist Says

    A Pittsburgh mural artist has urged a Pennsylvania federal judge not to let a real estate developer escape a suit accusing it and several others of destroying at least eight of his installations in and around the city, saying the developer has lost its chance to argue that the court lacked personal jurisdiction over it.

  • December 6, 2018

    Data-Driven Lawyer: Ogletree's Evan Moses

    Ogletree's Evan Moses uses unconventional strategies to boost the firepower of his class action practice, including a homegrown Monte Carlo algorithm, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 5, 2018

    Deutsche Bank Settles BlackRock RMBS Suits

    Deutsche Bank has struck a deal with residential mortgage-backed securities investors including funds of BlackRock Inc. and other asset managers to settle their litigation in New York federal court and California state court over the bank’s handling of hundreds of RMBS trusts.

  • December 5, 2018

    Convicted Developer Asks To Be Freed From Supervision

    A former real estate developer urged a New Jersey federal judge Wednesday to terminate his supervised release following his prison stint for diverting money from an affordable housing project for personal and other unauthorized purposes, saying he lives “a simple, law-abiding life” and such supervision is no longer necessary.

  • December 5, 2018

    Landowner Denied Bid For Axed NJ Pollution Cleanup Grant

    A New Jersey developer’s application for an environmental cleanup grant wasn’t complete enough to be grandfathered in after the state Legislature eliminated funding for the program, a New Jersey appeals court ruled on Wednesday.

  • December 5, 2018

    St. Regis Response To Foul Odor Fails Smell Test, Owner Says

    Something other than the sea breeze is in the air in an oceanfront penthouse at the St. Regis Condominium and Hotel in Bal Harbour, Florida, and the response by Marriott and property owner Seldar Holding stinks, the unit's owner claims in a lawsuit filed Wednesday in state court in Miami.

  • December 5, 2018

    Goodwin Procter, Arnold & Porter Steer $161M NYC Loan

    A joint venture of Rockwood Capital LLC and Midtown Equities LLC has landed a $161 million loan from Arnold & Porter-counseled Square Mile Capital Management LLC for the purchase of a property on Broadway in New York, according to an announcement on Wednesday from Goodwin Procter LLP, which represented Rockwood on the loan.

  • December 5, 2018

    Real Estate Rumors: E&A, Landmark, Branch Banking & Trust

    E&A Property Management has reportedly bought a Florida grocery store-anchored shopping center for $12.4 million, Landmark Cos. is said to have landed $71 million in financing for a California hotel, and Branch Banking & Trust has reportedly loaned $18.5 million for the recent purchase of a Florida retail center.

  • December 5, 2018

    Gov't Urges High Court To Rebuff Osage Wind Farm Petition

    The solicitor general has urged the U.S. Supreme Court to deny a bid by Oklahoma wind farm developers seeking to overturn a Tenth Circuit decision that said a mineral lease from the Osage Nation and federal approval were required for the project, stating that the tribe had a right to intervene and appeal because they would have been bound by the district court’s adverse judgment.

  • December 5, 2018

    US Trustee Faults Fee Info In Sears' Request For IP Law Firm

    The U.S. Trustee’s Office has asked a New York bankruptcy court to reject Sears Holding Corp.'s request to retain boutique law firm McAndrews Held & Malloy Ltd. to handle intellectual property matters unless it gets more information on what the firm will be paid.

  • December 5, 2018

    Fla. Court Sanctions Atty For 'Egregious' Attacks On Judges

    A Florida state appeals court sanctioned a foreclosure defense attorney Wednesday for filing briefs that digressed into an attack on the court's integrity, which they said violated not just Florida Bar rules but also “the most elementary norms of civility and professionalism.”

  • December 5, 2018

    Tritax Big Box REIT Lands $510M In Financing

    Tritax Big Box REIT PLC has landed £400 million ($509.9 million) in new financing from a syndicate of banks, and will use proceeds to pay off existing debt and for future acquisitions and investments, according to an announcement Wednesday from the U.K. real estate investment trust.

  • December 5, 2018

    Ares Closes Latest Real Estate Fund With $1 Billion

    Asset manager Ares Management Corp. has closed Ares U.S. Real Estate Fund IX with about $1.04 billion in commitments that will be used to target investments in multifamily, industrial and office properties located across the U.S., the company said Wednesday.

  • December 5, 2018

    Texas Panel Lets Hurricane Harvey 'Takings' Suit Proceed

    A Texas appellate court has partially sided with Houston-area homeowners suing the San Jacinto River Authority over damage to their homes in the wake of Hurricane Harvey, holding that their "takings" claims can proceed, but other claims must be refiled in a county court at law rather than a state district court.

Expert Analysis

  • A Closer Look At Proposed Regs For Nonbank Loan Servicers

    Laurence Platt

    A recently introduced bill that would create a new authority over mortgage loan servicers that handle loans for Fannie Mae and Freddie Mac likely has no chance of passage in the short term. But these entities should keep an eye on the potential federal extension of so-called safety and soundness principles, say Laurence Platt and Michael McElroy of Mayer Brown LLP.

  • Q&A

    Back To School: Stanford's Jeff Fisher Talks Supreme Court

    Jeffrey Fisher

    In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.

  • 2 Important Takeaways From 7th Circ.'s FHA Ruling

    Jeffrey Rosenberg

    In Wetzel v. Glen St. Andrew, the Seventh Circuit recently held that landlords can be held liable under the Fair Housing Act if they are aware of discriminatory harassment toward their tenants and do nothing to stop it. Just as importantly, the court recognized that the FHA prohibits discrimination based on sexual orientation, say attorneys at the Law Office of Yuriy Moshes PC.

  • Florida Courts Are Prepared For A New Wave Of Foreclosures

    Victor Petrescu

    For Florida practitioners who experienced the foreclosure crisis that swept through the state beginning in 2008, the recent uptick in foreclosure filings may feel ominous. However, Florida's foreclosure jurisprudence has evolved at an incredible pace, capable of expediting the process tremendously if another crisis arises, says Victor Petrescu of Levine Kellogg Lehman Schneider & Grossman LLP.

  • NJ Trial Court Error Resulted In Years Of Litigation

    Lawrence Shapiro

    The New Jersey Appellate Division's reversal in Torah v. Aryeh should serve as a warning for trial judges faced with proceedings arising from an arbitration award. When statutes are involved, their language must be strictly followed, and although arbitration is preferred to litigation, it cannot be coerced or compelled, say Lawrence Shapiro and Nicole Miller of Ansell Grimm & Aaron PC.

  • Avoiding Withholding Tax On Foreign Interest Payments

    Brad Wagner

    Interest paid by a blocker foreign corporation is generally subject to the U.S. withholding tax regime. However, there are two exceptions to the rule, says Brad Wagner of Wagner Duys & Wood LLLP.

  • Calif.'s New Rules For Lawyers Move Closer To ABA Model

    Mark Loeterman

    The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.

  • Post-Florence Insurance Considerations For The Carolinas

    Patrick Aul

    In 2016, Hurricane Matthew was an extraordinary event that caused the Carolinas' departments of insurance to provide additional safeguards for insureds. The impact of Hurricane Florence will likely compel North and South Carolina to take the same actions again, say Patrick Aul and Stephen Pate of Cozen O'Connor.

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • IRS Ruling On MBS Restructuring Should Encourage Investors

    Mark Leeds

    In June 2019, the Federal Housing Finance Agency will require Freddie Mac and Fannie Mae to begin issuing standardized mortgage-backed securities. Accordingly, the IRS last month encouraged Freddie Mac investors to convert their existing securities by stating that conversions won't trigger taxable gains or losses, say Mark Leeds and Steven Garden of Mayer Brown LLP.