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Real Estate

  • August 3, 2018

    Chancery Denies Quick Breakup For $1B Development Firm

    Pointing to contract remedies that have not yet been exhausted, a Delaware vice chancellor on Friday stayed or dismissed four counts in a suit seeking dissolution of a $1 billion Long Island, New York, redevelopment company, over one partner’s objections that distrust had poisoned the venture.

  • August 3, 2018

    Real Estate Rumors: Preston Giuliano, Natixis, Vista

    Preston Giuliano Capital Partners has reportedly bought a Florida apartment complex for $22.78 million, Natixis is said to have loaned $95 million for a New York rental building, and a Vista Hospitality venture has reportedly picked up a Florida DoubleTree by Hilton hotel for $22.3 million.

  • August 3, 2018

    Seyfarth Steers $110M Brooklyn Property Loan

    Seyfarth Shaw LLP represented Benefit Street Partners Realty Operating Partnership LP in connection with roughly $110 million in loans to Bushwick Realty Holdings LLC for an apartment building project in Brooklyn, according to various mortgage documents made public in New York on Friday.

  • August 3, 2018

    Ex-Tenants Seek Cert. In Fire Class Action Against Developer

    Two former tenants of a luxury apartment building moved Friday in New Jersey federal court for certification in their proposed class action against the complex’s developer over a fire that temporarily displaced them and left a foul odor.

  • August 3, 2018

    Developer Shvo, JV Score 100K-Square-Foot 5th Ave. Space

    A joint venture including developer Michael Shvo and subsidiaries of Deutsche Finance Group and Turkish real estate investor Bilgili Group said Friday that it will take over more than 100,000 square feet of office space at 685 Fifth Ave. in New York from GGP Inc.

  • August 3, 2018

    Holland & Knight, Fried Frank Steer $257M NY Property Deal

    Holland & Knight LLP represented the buyer who dropped $257 million on a mixed-use property on West 26th Street in Manhattan, a deal Fried Frank Harris Shriver & Jacobson LLP worked on for seller Savanna, according to records made public in New York on Friday.

  • August 3, 2018

    Norton Rose Snags Real Estate Duo From Mayer Brown

    A pair of real estate specialists have joined Norton Rose Fulbright in the firm's New York office, bringing their wide-ranging financing and dealmaking experience to its ranks from Mayer Brown LLP.

  • August 2, 2018

    Freedom Mortgage Can't Shake 2 TCPA Class Actions In NJ

    Freedom Mortgage Corp. lost separate bids to escape two putative class actions over allegedly unsolicited phone calls when a New Jersey federal judge ruled Thursday that the customers’ lawsuits supported their claims under the Telephone Consumer Protection Act.

  • August 2, 2018

    Injunction Denied In Property Spat Between Ex-NFL Players

    Former NFL receiver Antonio Bryant was denied his bid to immediately regain a Miami-area property he claims was improperly sold through a forged deed by another ex-NFL player when a state judge found Thursday that Bryant failed to satisfy the requirements for an injunction.

  • August 2, 2018

    2nd Circ. Backs Toss Of RMBS Suit Against US Bank, BofA

    A Second Circuit panel ruled Thursday that the National Credit Union Administration lacks standing to bring claims against residential mortgage-backed securities trustees U.S. Bank and Bank of America on behalf of 10 trusts that the agency created and filled with RMBS and other distressed assets from five failed credit unions.

  • August 2, 2018

    NJ Township Wins Restoration Of Complex's Age Restrictions

    The New Jersey state appeals court on Thursday reinstated the township of South Brunswick’s mandate that a proposed housing project must be reserved for senior citizens, ruling that the developer didn't prove special circumstances that warranted an exception to the age restriction.

  • August 2, 2018

    Fed. Circ. Won't Revisit FBI Field Office Lease Dispute

    The full Federal Circuit declined Thursday to rehear a dispute over the terms of a leasing agreement for the FBI’s Cleveland field office, with two dissenters arguing the court should have taken up the case to address an underlying issue regarding the Court of Federal Claims’ jurisdiction.

  • August 2, 2018

    Fla. Court Affirms Spa Owner's Win Against Trump Resort

    A Florida appeals court affirmed a loss for the Donald Trump-owned National Doral Miami resort in a dispute with a spa owner that claimed the resort violated a contract by demanding large room rate increases as part of negotiations to extend a group room agreement.

  • August 2, 2018

    Bowles Rice's $10M Coverage Bid Halved In Insurance Row

    Bowles Rice LLP’s professional liability insurer is on the hook for at most $5 million, not $10 million, to cover underlying claims that the law firm cost a title insurer tens of millions of dollars in a troubled power plant build, a federal judge in West Virginia has ruled.

  • August 2, 2018

    Senate Aims To Boost Checks On Foreign RE Ownership

    The U.S. Senate has approved a bipartisan measure that would set the stage for improvements to a U.S. Treasury Department initiative designed to prevent foreign nationals from laundering money by way of high-priced U.S. real estate deals.

  • August 2, 2018

    Startup Fights Paper's Bid To Unseal Records After $706M Win

    A data analytics startup has opposed a newspaper's bid to unseal court records from its $706 million trade secrets win over a Quicken Loans affiliate, saying the Texas statute used to seal the documents does not allow for interlocutory appeal.

  • August 2, 2018

    Lien Holders May Challenge Land Use Plans, NJ Justices Say

    The New Jersey Supreme Court declared Thursday that the holder of a tax lien on a property may have standing to challenge a municipal planning board’s approval of a land use application for a neighboring parcel, resolving an issue of first impression for state courts.

  • August 2, 2018

    Real Estate Rumors: Providence, Centerline, Calif. Mansion

    Providence Equity has reportedly reached a deal to lease 21,000 square feet in New York, Centerline Homes is said to have paid $50.5 million for a Florida development site, and a mansion in California that Beyoncé and Jay-Z once rented has reportedly sold for roughly $50 million.

  • August 2, 2018

    Real Estate Brokerage Leads 2 IPOs Exceeding $973M

    Advised by Cleary Gottlieb Steen & Hamilton LLP, real estate giant Cushman & Wakefield PLC priced its initial public offering at $17 per share before opening Thursday morning, joining wireless speaker company Sonos Inc. to raise a combined $973.5 million.

  • August 2, 2018

    REIT Investor Says $1.4B Merger Suit Has Legs

    An investor suing American Finance Trust and its adviser over a $1.4 billion tie-up with another real estate investment trust urged a New York federal judge to keep the lawsuit intact, reiterating allegations that AFT and affiliated entities withheld and obscured financial information, to the detriment of shareholders.

Expert Analysis

  • The PHH Decision And The Future Of CFPB

    Eric Mogilnicki

    When Consumer Financial Protection Bureau Acting Director Mick Mulvaney recently dismissed the bureau’s case against PHH Corp., it marked the end of an important chapter in the short life of the new agency and provided valuable lessons for its future, says Eric Mogilnicki of Covington & Burling LLP.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • An Unprecedented Look Inside The FARA Unit

    Brian Fleming

    For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.

  • Options For Failing Marijuana Cos. And Their Creditors

    Brett Theisen

    In the marijuana industry, there is ambiguity surrounding failing businesses because the product remains illegal under federal law. Brett Theisen of Gibbons PC identifies the credit risks associated with lending to, or working with, a marijuana business and highlights key state law solutions for both debtors and creditors.

  • Pre-Mediation Caucuses May Improve Mediation Efficiency

    Thomas Elkind

    The more procedural tools a mediator can offer, the higher the likelihood that a mediation will be successful. Mediators should be prepared to employ pre-mediation initial caucuses in appropriate cases, says JAMS mediator and arbitrator Thomas Elkind.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 2

    John Reed Stark

    The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 1

    John Reed Stark

    Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.

  • Questions To Answer Before Investing In An Opportunity Fund

    Marc Schultz

    The opportunity zone program is an exciting new tax incentive offering substantial benefits for its participants. However, many questions about the program remain outstanding, most of which need to be resolved in order for opportunity funds to succeed as expected, says Marc Schultz of Snell & Wilmer LLP.

  • Did CFPB Have Authority To Issue New Regs Under RESPA?

    Laurence Platt

    Following the swarm of recent requests for information issued by the “new” Consumer Financial Protection Bureau, I want to highlight one area where I think the agency went too far — namely, its extensive default servicing regulations under the Real Estate Settlement Procedures Act, says Laurence Platt of Mayer Brown LLP.