Real Estate

  • December 5, 2017

    Faulty EIRs Can Be Dealt With Piecemeal, Calif. Court Says

    A California state appeals court on Monday said that even though two parts of an environmental impact report for a major development were faulty, a lower court was right to separate out those elements instead of granting a request by environmental groups to fault the entire report.

  • December 5, 2017

    NJ Panel Backs Profit-Sharing Deal In Foreclosure Case

    The New Jersey Appellate Division on Tuesday clarified in a published opinion that state tax sale law allows for a third-party investor to enter into a profit-sharing agreement with the owner of a property facing foreclosure as long as the investment is significant.

  • December 5, 2017

    Real Estate Rumors: SL Green, Randy Rissman, Florida Power

    A venture that includes real estate investment trust SL Green has reportedly landed a $195 million loan for a New York retail property, Tiger Electronics founder Randy Rissman is said to be nearing a deal to buy a Chicago office property and Florida Power & Light Co. has reportedly bought more than 1,300 acres of land in northern Florida.

  • December 5, 2017

    ND Tribe Member Fights Fee, Interest Bids In Royalty Beef

    A Three Affiliated Tribes member and his current attorney are challenging a pair of requests made by Enerplus Resources Corp. in its $3 million royalty overpayment dispute, telling a North Dakota federal court Monday that the requested attorneys' fees are excessive and the oil and gas exploration company isn’t entitled to prejudgment interest.

  • December 5, 2017

    BNY Mellon Says Royal Park’s Proposed Class Still Lacking

    The Bank of New York Mellon Corp. has asked a New York federal judge to reject a new effort to allow a case over failed mortgage-backed securities it oversaw to advance as a class action, saying Royal Park Investments' class definition is still too “expansive and amorphous” to be certified.

  • December 5, 2017

    Summit REIT Unveils $92M Offering Meant To Fund Deals

    Summit Industrial Income REIT on Monday announced a unit offering that could hand the open-ended mutual fund real estate investment trust roughly $92 million, the same day it said it had inked a $66.1 million deal to buy a four-property portfolio in the greater Toronto area.

  • December 4, 2017

    Real Estate Rumors: Feil, Denihan Hospitality, Omnicom

    Feil Organization has reportedly bought a New York property leased to multiple fitness studios from Acadia Realty Trust for $27 million, Denihan Hospitality is said to be seeking $80 million for a Chicago hotel, and advertising firm Omnicom has reportedly extended its lease for 200,000 square feet in New York for another 10 years.

  • December 4, 2017

    7th Circ. Won't Rehear Fannie, Freddie's Chicago Tax Row

    The Seventh Circuit on Monday refused to reconsider its October decision allowing local transfer taxes levied against mortgage backers Fannie Mae and Freddie Mac to go forward, reversing a district court decision deeming the taxes unconstitutional.

  • December 4, 2017

    Justices Won't Hear Banks' Appeal In FDIC's $140M MBS Suit

    The U.S. Supreme Court on Monday said it won’t review a Second Circuit decision allowing the Federal Deposit Insurance Corp. to move forward with a $140 million mortgage securities suit against a group of five banks, leaving in place the appellate court’s interpretation of a so-called extender statute in the Financial Institutions Reform, Recovery and Enforcement Act.

  • December 4, 2017

    Walter Investment Gets OK To Tap $1.9B DIP Loan

    Mortgage lender and servicer Walter Investment Management Corp. received interim approval on Monday from a New York bankruptcy court to access a $1.9 billion debtor-in-possession warehouse lending facility it says is needed to finance its primary operating subsidiaries.

  • December 4, 2017

    Real Estate Broker Leads 2 IPO Launches Totaling $749M

    Two companies eager to seal deals before the year-end holiday break launched initial public offerings on Monday, led by commercial real estate broker Newmark Group Inc.’s estimated $615 million IPO, followed by private equity-backed cable equipment maker Casa Systems Inc.’s approximate $134 million offering.

  • December 4, 2017

    Sidley, Stroock Steer $217M Loan For Brooklyn Property

    Sidley Austin LLP represented M&T Bank in connection with its roughly $217.3 million loan to Stroock & Stroock & Lavan LLP-counseled Midtown Equities LLC for a mixed-use project in Brooklyn's DUMBO neighborhood, according to records made public in New York on Monday.

  • December 4, 2017

    Senate Panel Gives GSA More Time On FBI Headquarters

    A Senate panel on Friday gave the U.S. General Services Administration an additional 60 days to deliver a plan to move the FBI out of its aging headquarters, after the agency had originally said a new relocation plan, replacing a yearslong effort that collapsed earlier this year, would come before the end of November.

  • December 4, 2017

    3rd Circ. Upholds Fees To Atty In Pa. Gaming Inquiry Row

    The Third Circuit on Monday upheld a ruling requiring two businessmen associated with a Pennsylvania casino project to pay the legal fees of an attorney who they accused in an ultimately unsuccessful lawsuit of sabotaging their dealings with state gaming regulators.

  • December 4, 2017

    Developer Woodbridge Hits Ch. 11 Amid SEC Probe

    Real estate development and investment firm the Woodbridge Group of Companies LLC filed for Chapter 11 protection Monday in Delaware amid a U.S. Securities and Exchange Commission investigation into its fundraising practices, looking to restructure some $750 million in mostly retail note debt.

  • December 4, 2017

    Katy Perry, Catholic Church Win $10M In Convent Sale Trial

    A California jury awarded $10 million in punitive damages to Katy Perry and the Roman Catholic Archbishop of Los Angeles on Monday after finding that a real estate developer acted with malice in interfering with the pop star's planned $14.5 million purchase of a sprawling empty convent.

  • December 4, 2017

    Wanda Group Founder Pays $470M For Wanda Hotel Stake

    Property developer Dalian Wanda Group Co. Ltd.'s founder is paying nearly HK$3.67 billion ($469.5 million) for a majority stake in Wanda Hotel Development Co. Ltd., according to a stock exchange release Monday.

  • December 4, 2017

    7th Circ. Rejects Homeowners' Appeal Over Property Estimate

    Two Illinois women who spearheaded a campaign against township employees trespassing on private property can't pursue constitutional claims against the county of Winnebago for an alleged unfair spike to their property assessment, a Seventh Circuit panel ruled Friday.

  • December 3, 2017

    Tax Bill’s Swift Passage May Create Legal Quandaries

    The accelerated course of the Republicans’ $1.4 trillion tax cut bill, heralding some of the most sweeping changes for corporations in decades, has created ambiguities that could take years to iron out while the process to reconcile differences between the House and Senate versions of the bill will leave nothing sacrosanct, including the cardinal 20 percent corporate tax rate.

  • December 2, 2017

    Senate Passes $1.4 Trillion Tax Cut Legislation

    The U.S. Senate passed an expansive tax cut bill early Saturday that is projected to add more than $1 trillion to the deficit, after garnering enough support from faltering and fiscally conservative Republicans.

Expert Analysis

  • Being There: Defending Depositions

    Alan Hoffman

    Defending depositions is challenging. The lawyer is the only shield and protector for the witness and the client. The rules of engagement are less than clear, and fraught with ethical perils. Difficult judgment calls often must be made in the heat of battle. This is where lawyers really earn their keep, says Alan Hoffman of Husch Blackwell LLP.

  • Opinion

    The Legal Fallout For Harvey Weinstein’s Hired Hands

    Nicole Kardell

    There is a difference between a lawyer or investigator seeking evidence to defend against allegations and correct misrepresentations, and, on the other hand, using duplicitous means to gather information and intimidate alleged victims and journalists. Client advocacy does not mean winning at all costs, says Nicole Kardell of Ifrah Law PLLC.

  • Jury Persuasion In An 'Alt-Fact' World

    Shelley Spiecker

    Today's climate of “alternative facts” has jurors making decisions based on beliefs, emotions and social affiliations that often go unacknowledged or underappreciated. To present their case in the most persuasive manner possible, litigators should consider adapting to their audience when it comes to four psychological factors, say consultants with Persuasion Strategies, a service of Holland & Hart LLP.

  • Applying The Investors' Playbook To Legal Career Planning

    Howard Cohl

    Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.

  • Financial Crisis Anniversary

    Putting Our Nation’s Economy At Risk Again

    Phil Angelides

    Just a decade after financial disaster struck, the Trump administration, congressional Republicans and Wall Street are wantonly ignoring the lessons of history. The unknown is not if but when financial disaster will strike again, says Phil Angelides, who was chairman of the Financial Crisis Inquiry Commission.

  • Dealing With Real Estate Tax Escalations In New Properties

    Dena Cohen

    When considering a lease, tenants should closely examine whether the property is in transition, under construction or being repurposed, in order to address concerns regarding anomalous real estate tax escalations, says Dena Cohen of Herrick Feinstein LLP.

  • How IT And Procurement Pros Can Inform Law Firm Budgeting

    Steve Falkin

    As law firms begin preparing for their annual budget review, Steve Falkin and Lee Garbowitz of HBR Consulting discuss why firm leaders should give their internal information technology and procurement teams a seat at the table.

  • A Potential New Hope For Indemnity And Contribution Claims

    Robert Naeve

    The Ninth Circuit's recent decision in Los Angeles v. Aecom is the first appellate decision to hold that the Americans with Disabilities Act does not necessarily preempt contribution claims as between co-defendants, possibly signalling a retreat from wholesale rejection of indemnity and contribution claims in ADA cases, says Robert Naeve of Jones Day.

  • Getting Real About Artificial Intelligence At Law Firms

    Mark Williamson

    Artificial intelligence needs to be legally defensible in order to be useful to law firms. There are requirements for making this happen, says Mark Williamson, co-founder and chief technology officer of Hanzo Archives Ltd.

  • Proportionality, Not Perfection, Is What Matters

    John Rosenthal

    A few jurists and commentators have recently caused a stir in the e-discovery community by arguing that litigants should avoid using keyword searches to filter or cull a document population before using predictive coding. This “no-cull” rationale undermines the principle of proportionality at the heart of the recent changes to Federal Rule 26, say John Rosenthal and Jason Moore of Winston & Strawn LLP.