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Real Estate

  • 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.

  • June 12, 2018

    Miami Pop Artist Must Pay Rent While Fighting Lease

    A Florida judge on Sunday rejected Miami-based pop artist Romero Britto’s request to deposit rent for his Miami Beach art gallery into a court registry while he takes his landlord to court over crime and nuisance in the area that he says have driven away customers.

  • June 12, 2018

    NJ Town Loses Fight With Residents Over Zoning Ordinance

    A New Jersey state appeals court has handed a victory to a group of Livingston Township residents over claims they were not personally notified about a municipal ordinance that permitted construction of a proposed assisted-living facility, reviving their lawsuit and declaring the ordinance invalid.

  • June 12, 2018

    The Walking Company's Ch. 11 Plan Gets Court Approval

    The Chapter 11 plan of reorganization of comfort shoemaker and retailer The Walking Company received court approval in Delaware Tuesday, wrapping up its bankruptcy case a little more than three months after it was filed.

  • June 12, 2018

    Hunton Atty Takes Real Estate Group From Local To National

    When Carl Schwartz joined the former Hunton & Williams LLP six years ago, the firm's managing partner directed him to build the roughly 40-lawyer real estate group into a national player, and today, the size of the practice he co-chairs has nearly quintupled, Schwartz told Law360 in a recent interview.

  • June 12, 2018

    Shuttered Restaurant Group Sues Texas Music Complex

    A restaurant group that briefly opened five eateries at the new Toyota Music Factory in Irving, Texas, has sued the entertainment venue’s owner, saying the group’s sublease is void because the venue failed to live up to its promises and the city must serve as landlord.

  • June 12, 2018

    JPMorgan Sued For $1.2B Over Mexican Properties Trust

    J.P. Morgan Chase Bank N.A. tricked a Mexican real estate developer into transferring properties worth “hundreds of millions of dollars” into its control by fraudulently promising to sell them, according to a $1.2 billion lawsuit filed in New York federal court Monday.

  • June 12, 2018

    Blackfeet's $471M Water Deal Inches Toward Finish Line

    The Blackfeet Nation and the U.S. Department of the Interior nudged closer Tuesday to the finish line of a deal that will resolve decades of litigation over Blackfeet water rights and provide the tribe with $471 million from the federal government and the state of Montana.

  • June 12, 2018

    Real Estate Rumors: Zuo Hui, Howard Hughes, Gala Asher

    Chinese developer Zuo Hui is reportedly in late-stage talks to pay $1.56 billion for certain property assets in central Beijing, Howard Hughes Corp. is said to have bought a New York development site for $180 million, and developer Gala Asher is reportedly seeking to sell a Los Angeles mansion for $135 million, which would set an L.A. residential sales record.

  • June 12, 2018

    Ex-Oil Co. VP Fights SEC Disgorgement Bid Over EB-5 Scam

    A former official at Luca International Group LLC accused of helping perpetrate a $68 million Ponzi-esque scheme involving the EB-5 immigrant investor program told a California federal judge on Monday that she doesn’t owe authorities disgorgement and civil penalties, saying she was clueless as to the alleged securities violations.

  • June 12, 2018

    Pa. Appeals Court Won't Rehear Fracking Trespass Case

    A Pennsylvania appeals court has shot down a bid from Southwestern Energy Co. for reconsideration of a decision greenlighting trespassing claims against it for allegedly tapping into natural gas trapped in rock formations beneath a property where it did not have a claim on subsurface rights.

  • June 12, 2018

    US Golf Association, Tribe Ink Deal As US Open Approaches

    The United States Golf Association and the Shinnecock Indian Nation said in a joint statement on Monday that they had reached a deal to allow the tribe to take part in activities around the U.S. Open tournament starting on Thursday in Southampton, New York, and to create a golf facility for Shinnecock players.

  • June 12, 2018

    Milbank Steers Deutsche Bank's $460M Wall St. Property Loan

    Milbank Tweed Hadley & McCloy LLP represented Deutsche Bank Trust Co. Americas in connection with the bank's $460 million loan to Macklowe Properties for the refinance of an office tower on Wall Street in Manhattan, according to records made public in New York on Tuesday.

  • June 12, 2018

    La. Real Estate Board Asks 5th Circ. For Stay On FTC Trial

    The Louisiana Real Estate Appraisers Board has urged the Fifth Circuit to pause a Federal Trade Commission administrative trial challenging board regulations that control appraisal fees, arguing the appeals court should first decide on its immunity from federal antitrust laws to prevent “distraction” of state officials.

  • June 12, 2018

    Hospital Plaza Transfer Sank PE Firm's Deal, 3rd Circ. Told

    A private equity firm on Tuesday urged the Third Circuit to revive its $5 million case against a New Jersey hospital over the firm's would-be acquisition of a medical plaza under foreclosure, arguing that an ownership transfer that sank the sale ran afoul of the purchase deal.

Expert Analysis

  • Calif. Landslides Prompt 'Efficient Proximate Cause' Rehash

    Jennifer Hoffman

    Last month, the California Senate passed SB 917, amending the California Insurance Code to reiterate efficient proximate cause and specifically address landslides. Though the amendment purports to merely restate existing law, insurers should be prepared for inconsistent verdicts rendered by courts and juries in the near future, says Jennifer Hoffman of Zelle LLP.

  • Practical Considerations For Litigating Proportionality

    Elizabeth McGinn

    By incorporating an explicit requirement that discovery must be “proportional to the needs of the case,” the 2015 amendments to the Federal Rules of Civil Procedure garnered much speculation as to their impact on courts’ decision-making processes. Now that the rules have been implemented for over two years, several themes have emerged, say attorneys with Buckley Sandler LLP.

  • New Tax On Foreign Buyers Of Australian Real Estate

    John Walker

    Three Australian states have introduced taxes for transactions involving acquisitions of residential property by foreign investors, but certain foreign investors may be exempted from the new taxes, say John Walker and Jun Au of Baker McKenzie.

  • Planning For New IRC Section 1061: Part 2

    Scott Dolson

    The views of tax professionals and the IRS interpreting Internal Revenue Code Section 1061 are rapidly evolving in the aftermath of hurriedly adopted legislation. While future corrective legislation and agency interpretations may target planning, the statute in its current form provides opportunities for taxpayers to work around the negative consequences of the new three-year holding period for certain carried interests, say attorneys at Frost Brown Todd LLP.

  • Tech Can Help, Not Take Over, Your Real Estate Transaction

    Shawn Amuial

    Many technologists and pessimists alike have claimed that artificial intelligence and machine learning will replace lawyers. However, current technologies can actually transform and streamline attorneys' jobs, allowing them to complete tasks like real estate transactions in a manner that is better, faster and cheaper, says Shawn Amuial of Holland & Knight LLP.

  • Supporting Nontraditional Data Types In E-Discovery

    Jason Paroff

    The advancement in connected technologies and software has created an explosion of nontraditional data sources that present challenges to e-discovery practitioners. Many tools and techniques used to process traditional data may not be practical for these new data types, say Jason Paroff and Sagi Sam of Epiq.

  • Planning For New IRC Section 1061: Part 1

    Scott Dolson

    Recently enacted Internal Revenue Code Section 1061 makes several important modifications to the beneficial tax treatment of carried interest. Professionals in the hedge fund, private equity or real estate industries need to keep this new provision in mind when structuring their compensation arrangements, say attorneys at Frost Brown Todd LLC.

  • The Insureds’ Burden: Determining Date Of Loss In Texas

    Todd Tippett

    Under Texas law, as reinforced by recent court decisions, the insured bears the burden of establishing that property damage actually occurs on the reported date of loss. Insureds and insurers can use a variety of tools to determine and prove when hail or wind damage occurred, say Todd Tippett and Walter Cardwell of Zelle LLP.

  • NJ Real Estate Considerations After Cannabis Legalization

    Christopher Stracco

    Given New Jersey's unique real estate regulatory regimen, the likelihood of cannabis legalization raises many legal considerations that will impact everything from property taxation to regulation of dispensary outlets, say attorneys with Day Pitney LLP.

  • Series

    State Tax After TCJA: Blue States' Deduction Strategies

    Gary Botwinick

    What do you do when it seems that Washington is out to get you? If you are a lawmaker or governor in New York, California, New Jersey or any of several other blue states that relies on significant income or property taxes to pay your state’s bills, you get creative, says Gary Botwinick of Einhorn Harris Ascher Barbarito & Frost PC.