We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Real Estate

  • September 17, 2018

    Simpson Thacher Steers Blackstone's €948M Spain REIT Deal

    Simpson Thacher & Bartlett LLP represented The Blackstone Group LP in connection with its roughly €947.9 million ($1.1 billion) purchase of a majority stake in Spain-based Testa Residencial SOCIMI SA, which Testa announced on Monday.

  • September 17, 2018

    Real Estate Rumors: Pebb, Duff & Phelps, Lissette Calderon

    Pebb Capital has reportedly landed $41.9 million in construction financing for a Florida hotel, Duff & Phelps is said to be taking 91,019 square feet in New York and developer Lissette Calderon has reportedly dropped roughly $61 million on a Florida apartment tower and landed financing from an insurance company.

  • September 17, 2018

    NYC Real Estate Week In Review

    One law firm landed work on the two largest New York City deals for which deeds were filed last week, both of which were nine-figure transactions, and more than a dozen other law firms helped out with the week's top transactions.

  • September 17, 2018

    Investcorp Drops $300M On Multistate Warehouse Portfolio

    Investcorp on Monday said it paid roughly $300 million for its largest-ever acquisition of a U.S. warehouse portfolio that includes properties in Texas, Pennsylvania, Delaware and Illinois, the ninth deal of its kind for the investment manager in the past three years.

  • September 14, 2018

    Split 9th Circ. Keeps Toss Of Northstar’s Schwab Fund Suit

    A Ninth Circuit panel on Friday agreed with the district court’s dismissal of Northstar Financial Advisors Inc.’s putative class action against Charles Schwab Corp. but said that Northstar should have another crack at amending its complaint claiming Schwab stepped outside of its own guidelines to make risky bond-fund bets.

  • September 14, 2018

    McCarter & English Nabs Gibbons Product Liability Pro In NJ

    McCarter & English LLP has added former Gibbons PC litigator Natalie Mantell as a partner in its Newark, New Jersey office, where she’ll draw on her defense work in cases over pharmaceutical products and medical devices as a member of the firm’s product liability practice.

  • September 14, 2018

    Fox Rothschild Adds GrayRobinson Real Estate Partner In Fla.

    Former GrayRobinson PA real estate and hospitality partner Steven W. Zelkowitz has joined Fox Rothschild LLP’s real estate group in Miami, where he hopes to help the firm expand its presence in South Florida, the firm announced Thursday.

  • September 14, 2018

    Day Pitney Guides MassMutual On $110M Queens Loan

    Day Pitney LLP represented Massachusetts Mutual Life Insurance Co. in connection with its $110 million loan to Brause Realty Inc. for an apartment building in Long Island City, Queens, according to records made public in New York on Friday.

  • September 14, 2018

    Tribes Face Rougher Road For Land-Into-Trust Bids

    The U.S. Department of the Interior’s rejection this month of the Mashpee Wampanoag Tribe's application to have its Massachusetts land held in trust puts the tribe’s planned casino project in jeopardy and could signal that the Trump administration intends to make it more difficult for recently recognized tribes to pursue their land-into-trust requests, experts say.

  • September 14, 2018

    Real Estate Rumors: Baum, Lutheran Social Services, Related

    Baum Development is reportedly seeking $75 million for a Chicago office property, Lutheran Social Services of New York is said to have leased 11,366 square feet in New York, and a Related Group venture has reportedly sold 11,000 square feet of retail space in Miami for $13.8 million.

  • September 14, 2018

    Texas High Court Passes On El Paso Historic Site Dispute

    The Texas Supreme Court on Friday said it won’t reconsider its decision refusing to take up a historian’s lawsuit that claimed the city of El Paso must ask residents to vote on a proposed ordinance that would bar developers from demolishing eight historic structures to build a $180 million downtown arena.

  • September 14, 2018

    Ares Selling Stake In Colo. Hotel Project For $270M

    Ares Management LP is selling its stake in an under-construction hotel and convention center in Aurora, Colorado, to Ryman Hospitality Properties Inc. and RIDA Development Corp. for roughly $270 million, Ares announced Friday.

  • September 13, 2018

    Men Get Prison, House Arrest In $3.5M Home Equity Loan Plot

    A New Jersey federal judge on Thursday slapped one man with prison and another with home confinement for their roles in a $3.5 million “shotgunning” scheme to use bogus information on simultaneous applications with multiple banks to secure home equity lines of credit.

  • September 13, 2018

    Insurer On Hook For $3M Cleanup Of Laundromat Suds Spills

    Ace Property and Casualty Insurance Co. must cover $3 million that a defunct laundromat owes a real estate holding company for polluting a site straddling the Massachusetts-New Hampshire border with dry-cleaning chemicals, a Massachusetts federal judge ruled Thursday.

  • September 13, 2018

    Fla. Condo Wants Insurer to Dig It Out Of $25M Sinkhole Loss

    A Florida condominium association filed suit Thursday in federal court in Tampa against Philadelphia Indemnity Insurance Co. over the insurer's refusal to cover a $25 million claim for alleged sinkhole damage, arguing that the denial was based on insufficient testing of the property.

  • September 13, 2018

    Fla. Judgment Upheld In Builder's Fight With Subway Founder

    A Florida appeals court on Thursday upheld summary judgment against Florida developer Anthony Pugliese in a dispute over a soured partnership with Subway co-founder Fred DeLuca to build a planned eco-friendly city on a $137 million parcel of land in central Florida.

  • September 13, 2018

    Herbert Smith Steers Propertylink's $543M Offer For REIT

    Propertylink Group has made an offer to buy Australia-based Centuria Industrial REIT in a deal that values the real estate investment trust at A$755 million ($542.9 million), according to an announcement from Herbert Smith Freehills LLP-counseled Propertylink Group on Thursday.

  • September 13, 2018

    NY Panel Axes MBIA Fraud Claim In Suit Against Credit Suisse

    A New York appeals court decided Thursday it won't revive a fraud claim MBIA Insurance Corp. brought in its $253 million suit against Credit Suisse over losses it incurred backstopping the bank's residential mortgage-backed securities, and also nixed an earlier win the bond insurer scored in the case.

  • September 13, 2018

    Real Estate Rumors: Miami-Dade County, Barings, Bringer

    Miami-Dade County is reportedly considering buying a former railroad corridor for $24.6 million, landlord Barings is said to be leasing nearly 20,000 square feet in New York to PR Consulting, and an affiliate of air cargo company Bringer has reportedly paid roughly $2.7 million for a Florida development site.

  • September 13, 2018

    Horn Williamson Snags Zarwin Baum Atty For Zoning Group

    The Philadelphia-based construction boutique Horn Williamson LLC has tapped the co-chair of Zarwin Baum DeVito Kaplan Schaer & Toddy PC’s zoning and land use practice to help launch its own development group.

Expert Analysis

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • Why Courts Should Apply Escobar In Criminal Cases

    Antonio Pozos

    In the two years since the U.S. Supreme Court's Escobar decision set off waves of litigation over materiality in civil False Claims Act cases, it has largely failed to gain traction in criminal fraud prosecutions. However, the ruling has broad implications in criminal law, say Antonio Pozos and Mark Taticchi of Drinker Biddle & Reath LLP.

  • Common Offsite Problems Arising From Triple-Net Leases

    Andrew Hodgson

    In the past few years, landlords, investors and developers have shown increased interest in triple-net ground leases of peripheral properties surrounding retail centers. However, they should consider the issues that can pop up when a ground leased parcel is part of a larger commercial development, says Andrew Hodgson of Husch Blackwell LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Why Lead Paint Litigation May Go To The Supreme Court

    Catherine Connors

    The U.S. Supreme Court has been asked to review ConAgra Grocery Products Co. and NL Industries v. People of California, a case that concerns whether companies that manufactured lead paint long ago can still be held liable for creating a public nuisance — and there's a decent chance cert will be granted, says Catherine Connors of Pierce Atwood LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.

  • What White V. Commissioner Says About Partnerships

    Mark Leeds

    The question as to when a person is receiving a share of partnership income or compensation continues to be a vexing issue. It is valuable to consider the U.S. Tax Court's recent holding in White v. Commissioner in the context of the relatively developed body of law to see how private funds can better structure carried interests and management fee waivers, say Mark Leeds and Guoyu Tao of Mayer Brown LLP.

  • IRS Takes Uncharitable View Of Property Donation Deductions

    Ronald Levitt

    In the evolution of the ongoing IRS attack on conservation easements, the cases discussed in this article demonstrate that the IRS will attack charitable gifts of property with contentions of quid pro quo consideration, receipt of enhancement value and the substantial benefit analysis in U.S. v. American Bar Endowment — and the Tax Court appears receptive to such arguments, say Ronald Levitt and Tucker Thoni at Sirote & Permutt PC.

  • Policing Bad Claims In Consolidated Litigation: Part 2

    Danielle Bagwell

    While conducting a pre-suit investigation sufficient to file a lawsuit may seem like a perfunctory enterprise, courts appear increasingly willing to affirm the importance of complying with this requirement — and this issue is particularly ripe in consolidated and multidistrict litigation, say Danielle Bagwell and Anne Gruner of Duane Morris LLP.

  • Opportunity Zones: Spurring Development In Indian Country

    Nicole Elliott

    Among those who should be interested in the new opportunity zone incentive provided by tax reform are tribes that can leverage this incentive to attract investment and reap significant tax benefits, say Nicole Elliott and Kristin DeKuiper of Holland & Knight LLP and Dr. Katy Rossiter of Ohio Northern University.