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Real Estate

  • June 14, 2018

    Real Estate Rumors: WeWork, Google, Robbins Property

    WeWork is reportedly leasing 60,000 square feet in New York, Google and Trammell Crow are said to have picked up three California parcels for $9.5 million, and Robbins Property has reportedly dropped $43 million on a Florida apartment complex.

  • June 14, 2018

    'Buffalo Billion' Defense Denied Subpoena To Jailed Witness

    The Manhattan judge set to oversee the criminal trial of former State University of New York President Alain Kaloyeros and three other men accused of rigging bids in the state's so-called Buffalo Billion revitalization effort turned aside a defense subpoena Thursday that sought information about a jailed cooperating witness.

  • June 14, 2018

    NJ Atty Reprimanded For Mishandling Mortgage Suit

    The Supreme Court of New Jersey has ordered that a Philadelphia attorney be reprimanded for failing to oppose a dismissal motion or keep a married couple informed while representing them in a forced mortgage default action, which resulted in lenders filing a foreclosure complaint against the couple.

  • June 14, 2018

    Fla. Justices Urged To Stay Out Of Public Records Dispute

    Florida urged the state’s Supreme Court on Wednesday not to take up an appeal by two law firms that say an appellate court erred in upholding a public records exemption protecting certain personal information held by the state’s financial services agency for participants in two real estate insurance programs.

  • June 14, 2018

    Freshfields, Roschier Steer Kojamo's €150M IPO

    Freshfields Bruckhaus Deringer LLP and Roschier Attorneys Ltd. represented Finland-based real estate firm Kojamo PLC in connection with its initial public offering, which the company said Thursday is expected to generate gross proceeds of roughly €150 million ($174.5 million).

  • June 13, 2018

    Insurer Off Hook For Builder's $5M Retaining Wall Damage

    National Union Fire Insurance Co. doesn’t have to pay for a subcontractor’s $5 million settlement tied to damage resulting from the installation of a retaining wall, a Maryland federal court ruled Tuesday, finding a “damage to impaired property” exclusion applies.

  • June 13, 2018

    NJ Town Illegally Blocked Jewish Worship Site Plan, Feds Say

    The federal government slapped a New Jersey town with a lawsuit Wednesday over its refusal to approve an Orthodox Jewish group's plans to build a new house of worship, in alleged violation of religious land-use law.

  • June 13, 2018

    No New Trial Over 5Pointz Graffiti Destruction, Judge Says

    A New York City real estate developer who demolished the famed graffiti space 5Pointz won't get a new trial, after a federal judge Wednesday issued a scathing opinion that blasted the owner for lying in court and other “egregious behavior.”

  • June 13, 2018

    Related Group Wants Ball Janik DQ'ed In Defect Litigation

    The Related Group told a Florida appeals court Wednesday that Ball Janik LLP should be disqualified from representing a Fort Myers condominium association in litigation over construction defects because the firm has represented both the association and subcontractors involved in the dispute.

  • June 13, 2018

    Time Limit Under NY Securities Law May Frustrate Big Cases

    A ruling Tuesday by New York’s highest court limiting to three years the time in which the state attorney general’s office can bring securities fraud claims under the Martin Act could hamper complicated cases involving large financial services firms, especially if prosecutors are seeking to charge individuals, legal experts said Wednesday.

  • June 13, 2018

    Real Estate Rumors: Hana, GW Properties, Vincent Viola

    A Hana Asset Management venture has reportedly picked up a Silicon Valley campus leased to eBay for $132.5 million, a GW Properties venture is said to have bought a Chicago gas station and garage for $10.4 million and plans to build retail there, and Vincent Viola's $80 million New York mansion sale has reportedly fallen through.

  • June 13, 2018

    Griffin-American REIT Drops $88M On Health Care Portfolio

    Griffin-American Healthcare REIT IV Inc. has reached a deal to buy a portfolio of skilled nursing properties in Missouri for $88.2 million, according to an announcement on Wednesday from the real estate investment trust's cosponsors.

  • June 13, 2018

    NYC, State, Coalition Clash On Uneven City Property Taxes

    The city and state of New York squared off before a state judge Wednesday against a legal coalition that has sued over the constitutionality of the city's property tax system, with the governments saying the suit must be dismissed and the taxpayer group saying the system is so unfair that the court must intervene.

  • June 13, 2018

    Real Estate Exec Says Wynn Broke $18.68M Handshake Deal

    A real estate executive who says his signature on a certificate helped clear the way for Wynn Resorts' $2.5 billion Encore Boston Harbor hotel and casino sued the company Tuesday in Massachusetts federal court, claiming Wynn owes him a promised $18.68 million payment.

  • June 13, 2018

    Blackstone Inks $2.3B REIT Deal After Closing 2 Funds

    The Blackstone Group has agreed to buy an Australian real estate investment trust for roughly AU$3.08 billion ($2.33 billion), according to a Wednesday statement, in a deal that comes only one day after the private equity giant closed two multibillion-dollar investment funds.

  • June 13, 2018

    Immigration Atty Urges Court To Rethink DQ In EB-5 Suit

    A Chicago-based immigration attorney accused by the U.S. Securities and Exchange Commission of pocketing money from foreign investors seeking EB-5 visas urged an Illinois federal court Tuesday to rethink a decision barring him from representing several supplemental defendants in the case, rebutting contentions that there is a conflict of interest.

  • June 13, 2018

    Cooley Guides Opendoor's $325M Series E Raise

    Private equity-backed online real estate broker Opendoor, with counsel from Cooley LLP, has raised $325 million in Series E financing and with the latest round has now raised a total of $645 million, according to an announcement on Wednesday from the San Francisco-based company.

  • June 13, 2018

    Seattle Firm Grows Real Estate, IP, Construction Practices

    Seattle-based Cairncross & Hempelmann PS has added three associates to its construction litigation, intellectual property and technology, and real estate practices, the firm said Tuesday.

  • June 13, 2018

    Mulvaney Ends PHH Saga But Legal Questions Linger

    The Consumer Financial Protection Bureau’s move last week to end its administrative proceedings against mortgage services provider PHH Corp. turns the page on one of the more controversial episodes in the agency’s history but still leaves some loose threads to wrap up, legal experts say.

  • June 12, 2018

    Real Estate Broker Brings Tossed Airbnb Claims To NY Court

    A Manhattan real estate brokerage firm Monday filed a putative class action against Airbnb Inc. in New York state court alleging the home-sharing site illegally and deceptively competes in the city’s rental market, months after a federal court judge tossed a similar suit from the firm.

Expert Analysis

  • FCPA Enforcement Activity In Early 2018: Part 2

    Collmann Griffin

    The first quarter of 2018 was above average in terms of Foreign Corrupt Practices Act investigations closed by U.S. regulators without enforcement. But the government may return to more assertive enforcement in the future — and companies and individuals may still face liability long after the "completion" of any misconduct, says Collmann Griffin of Miller & Chevalier Chtd.

  • An Update On CFIUS Reform

    Judith Alison Lee

    After six months of wrangling over the fate of a proposal to modernize the Committee on Foreign Investment in the United States, the U.S. Congress appears primed to streamline the CFIUS review process. As it currently stands, the proposed legislation would alter the process in many critical respects, say attorneys with Gibson Dunn & Crutcher LLP. 

  • FCPA Enforcement Activity In Early 2018: Part 1

    Collmann Griffin

    Enforcement of the Foreign Corrupt Practices Act was relatively slow during the first quarter of 2018, with only three fairly low-value corporate enforcement actions announced between January and March of the year. But the announced second quarter settlements and likely future dispositions suggest that 2018 still may be an active year overall for FCPA enforcement, says Collmann Griffin of Miller & Chevalier Chtd.

  • Comity And Fairness Well-Served By Upper Skagit Decision

    Jennifer Weddle

    The U.S. Supreme Court's restraint in its Upper Skagit decision is appreciated in Indian Country. Even if the immovable property doctrine applies equally to states and tribes as the dissent suggests, the doctrine is not necessarily worth keeping in today's nonmonarchial society, says Jennifer Weddle of Greenberg Traurig LLP.

  • Opinion

    We Need A Federal Plan To Combat Sea Level Rise

    Michael Parker

    Climate resiliency measures to abate future disasters in coastal cities like Boston need to be taken now to avoid disasters and save hundreds of billions of dollars in the future. But climate change needs a master plan; it cannot be left to thousands of cities to coordinate efforts — that is what our federal system is for, says Michael Parker of Rackemann Sawyer & Brewster.

  • Opinion

    Why Widespread Use Of Live Video Testimony Is Not Justified

    Geoffrey Wyatt

    Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Opportunity Zones Come Knocking In Virginia

    Jenny Connors

    One of the benefits of the Tax Cuts and Jobs Act — tax incentives for investments in qualified opportunity zones — is undeniable, particularly in Virginia. However, given the 2026 recognition deadline, taxpayers should consider making investments by year's end to take full advantage of the tax incentive’s deferral and exclusion opportunities, says Jenny Connors of Williams Mullen.

  • Why Fossil Fuel Generation Facilities May Be Overvalued

    Mark Lansing

    As renewable energy and energy storage drive electricity prices down, generation revenues should further decline, which should lower the valuation of coal, nuclear and natural gas power plants. Yet assessments of fossil fuel generation assets have generally remained steady, suggesting they are being significantly overvalued, says Mark Lansing of Dickinson Wright PLLC.

  • Reno Tax Landscape Encourages Growth And Opportunity

    Joshua Hicks

    All signs are positive that Reno, Nevada, will continue to grow thanks to its booming economy and low-tax environment. The way Nevada assesses properties' taxable value results in values significantly lower than market value, though there has been some pressure to change this methodology legislatively, say Joshua Hicks and Paul Bancroft of McDonald Carano LLP.

  • Series

    Judging A Book: Wallach Reviews 'Uncivil Warriors'

    Judge Evan Wallach

    "Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.