Real Estate

  • February 13, 2018

    $1.8B Offer Deepens Fight Over Breitburn Ch. 11 Plan

    The judge presiding over the Chapter 11 case for Breitburn Energy Partners LP said Tuesday he would admit into evidence a recent unsolicited $1.8 billion bid for the oil and gas enterprise, raising questions if the move actually reshapes a fight over the company’s estimated valuation and pending restructuring plan.

  • February 13, 2018

    Lobbyist Forced To Explain His Arrest To Graft Trial Jury

    Todd Howe, the lobbyist-turned-cooperator testifying at the bribery trial of a former aide to New York Gov. Andrew Cuomo, was quizzed Tuesday over his arrest last week on a bail violation, telling jurors it stemmed from what he called a misunderstanding about his testimony.

  • February 13, 2018

    $105M Astrodome Revitalization Plan Gets Green Light

    A $105 million project to revitalize the Houston Astrodome got the green light from county officials Tuesday, clearing the way to transform the historic building into an event space with underground parking.

  • February 13, 2018

    CBRE Arranges $195M Mortgage For Marriott Aruba Recap

    The Aruba Marriott Resort & Stellaris Casino has secured a $195 million mortgage for its recapitalization, allowing for the buy-out of some of the partners, according to a Monday announcement by CBRE Hotels, which arranged the financing on behalf of the owners.

  • February 13, 2018

    Real Estate Rumors: Blackstone, Prudential, GreenOak

    Blackstone Real Estate Income Trust is said to have recently bought three Illinois warehouses from a JPMorgan Chase fund for $151 million, Prudential has reportedly loaned $49 million for a New York rental building purchase, and a GreenOak venture is said to have dropped $38 million on a Florida office and retail building.

  • February 13, 2018

    4 Firms Guide $3.8B WMIH-Nationstar Merger

    WMIH, a company primarily dealing in reinsurance, and Nationstar Mortgage on Tuesday announced their plan to merge in a deal with an enterprise value of $3.8 billion, guided by Simpson Thacher & Bartlett LLP, Akin Gump Strauss Hauer & Feld LLP, Debevoise & Plimpton LLP and Davis Polk & Wardwell LLP.

  • February 13, 2018

    GSA Issues $3.3B Plan To Rebuild FBI Headquarters

    The General Services Administration and the FBI intend to replace the current FBI headquarters in Washington, D.C., with a new $3.3 billion building on the same spot after previously scrapping a plan for a new HQ in the D.C. suburbs, according to a report submitted to Congress on Monday.

  • February 13, 2018

    BakerHostetler Nabs Ex-Davis Wright Tremaine Energy Atty

    BakerHostetler has announced it picked up an energy industry veteran from Davis Wright Tremaine LLP, adding a seasoned attorney with years of experience appearing before the Federal Energy Regulatory Commission.

  • February 12, 2018

    LA Property Owner Pushes For Trial In Fred Segal TM Suit

    A Los Angeles retail property investor facing trademark infringement claims from Fred Segal LLC urged a California federal judge on Monday to “at a minimum” send the case to a jury after she tentatively ruled to dismiss their counterclaims alleging they have a right to keep the fashion brand’s sign up on an iconic ivy-covered property on Melrose Avenue.

  • February 12, 2018

    9th Circ. Judge: Tribe ‘Did Nothing’ To Stop Rival Casino

    During a hearing Monday, a Ninth Circuit judge asked whether the Cachil DeHe Band of Wintun Indians of the Colusa Indian Community waived its right to challenge another tribe’s proposed casino hotel when it “did nothing” to notify the U.S. Department of the Interior about the project’s effect on its own casinos.

  • February 12, 2018

    Ex-Nomura Trader Can't Ditch SEC Fraud Suit, Judge Rules

    A former head trader at Nomura must face a U.S. Securities and Exchange Commission suit accusing him of lying to customers about the prices he’d paid for commercial mortgage-backed securities he was reselling, a New York federal judge ruled Monday.

  • February 12, 2018

    Kelley Drye, Alston Courtnage Steer $82M Seattle Loan

    Kelley Drye & Warren LLP represented Allianz Real Estate of America Inc. in connection with its $82 million loan to Alston Courtnage & Bassetti LLP-counseled developer Urban Visions for the refinance of an office and retail building in Seattle, according to an announcement on Monday from borrower-side broker Holliday Fenoglio Fowler LP.

  • February 12, 2018

    Trump Budget Would Cut BIA Funds, Up Indian Health Money

    Funding for the Bureau of Indian Affairs and the Bureau of Indian Education would be cut nearly $450 million under a 2019 budget proposal unveiled Monday by the Trump administration, but the Indian Health Service would see an increase of about $400 million from 2018 under the plan.

  • February 12, 2018

    Real Estate Rumors: JK Equities, Moishe Mana, Codecademy

    A venture that includes JK Equities is reportedly eyeing the sale of a Chicago residential development site, developer Moishe Mana is said to have leased 120,000 square feet in Miami Gardens, and Codecademy has reportedly subleased nearly 21,000 square feet in New York.

  • February 12, 2018

    Wyndham Wiggles Out Of Suit Targeting Timeshare Operations

    A Florida federal judge dismissed a putative class action against Wyndham's timeshare business for the second time Monday, calling the suit — which alleges self-dealing and conflicts of interest — a “shotgun pleading.”

  • February 12, 2018

    7th Circ. Nominee Once Rebuked Trump During Trial

    Among those President Donald Trump nominated to take the Seventh Circuit bench on Monday is an Illinois federal judge who once reprimanded him during combative testimony at a 2013 trial over claims his company misled the buyer of a pair of condos in his Chicago tower.

  • February 12, 2018

    Hunton, Sidley Steer $385M NYC Hotel Refinancing

    Hunton & Williams LLP represented Hersha Hospitality Trust and Sidley Austin LLP guided private equity shop Cindat Capital Management Ltd. in connection with a $385 million deal unveiled Monday to refinance a portfolio of hotels in New York City.

  • February 12, 2018

    Destruction Of NYC 'Graffiti Mecca' Broke Law, Judge Says

    A federal judge ruled Monday that the sudden destruction of famous New York City graffiti space 5Pointz was an intentional violation of federal law, issuing a strongly worded decision ordering the site’s “unrepentant” owner to pay $6.75 million in damages.

  • February 12, 2018

    Deutsche Bank To Repay Overcharged MBS Customers $3.7M

    Deutsche Bank has agreed to pay back $3.7 million to customers allegedly misled by the firm’s traders and salespeople while negotiating sales of commercial mortgage-backed securities, the U.S. Securities and Exchange Commission said Monday.

  • February 12, 2018

    Graft Trial Judge Mulls Description Of Cooperator's Arrest

    The judge overseeing the federal bribery trial of a former top aide to New York Gov. Andrew Cuomo considered Monday what to tell the jury about the arrest of a key cooperating witness and indicated a reluctance to go along with a prosecution request that she describe the incident as a bail violation.

Expert Analysis

  • America's Shifting Views On Marijuana Post-Cole Memo

    Jonathan Robbins

    Although Attorney General Jeff Sessions' rescission of the Cole memo does not change federal law, negative response to the rescission across the cannabis sector and political landscape was strong, swift and bipartisan, which may lead to congressional action in the future, say Jonathan Robbins and Joshua Mandell of Akerman LLP.

  • Severe Weather Events Create Insurance Dilemmas

    Edward Murphy

    In recent years, severe weather events and natural catastrophes have been on the rise in California and elsewhere. Some insurers are becoming more restrictive with their homeowners policies, leaving many without adequate insurance for natural disasters, says Edward Murphy of Foran Glennon Palandech Ponzi & Rudloff PC.

  • A Guide To Construction Liens In New Jersey

    Excerpt from Lexis Practice Advisor
    Charles Kenny

    A construction lien is a security interest in real property on which construction work has been performed, which stays with the property regardless of who subsequently owns it. These liens can be powerful tools, though they can also be subject to prior liens such as acquisition financing and prior judgments, say Charles Kenny and Scott Kearns of Peckar & Abramson PC.

  • 6 E-Discovery Predictions For 2018

    Erich Potter

    Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.

  • How Sanctuary City Regs Could Impact Houston Real Estate

    Hilary Tyson

    President Donald Trump’s sanctuary city ban has been enmeshed in litigation since it was enacted, as has similar legislation in the Texas Legislature. But while the future of these regulations may not be certain, they still stand to exact broad impacts, both in Houston and beyond, say Hilary Tyson and Lauren McLaughlin of BoyarMiller.

  • 6 Roles To Embrace In An Evolving Legal Industry

    Rob MacAdam

    Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.

  • Opinion

    This Year, Let’s Invest In Lawyer Resiliency

    krishtel.photo.jpg

    Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.

  • 5 Legal Technology Predictions For 2018

    Jeff Ton

    While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.

  • The Broader Implications Of Sessions’ Marijuana Move

    Markus Funk

    Beyond what it heralds for the marijuana industry, Jeff Sessions’ memo on marijuana enforcement signals a new era of increasingly decentralized federal prosecutorial power, say attorneys with Perkins Coie LLP, including former Colorado Chief Justice Michael Bender.

  • Buying And Selling Air Rights In New York City: Part 2

    Excerpt from Lexis Practice Advisor
    Robin Kramer

    Developers utilizing air rights transfers in New York City must understand the process for obtaining such rights, as well as the provisions generally included in zoning lot development and easement agreements, says Robin Kramer of Duval & Stachenfeld LLP in the final part of this article.