Real Estate

  • April 5, 2018

    More Claims Advance In RCS Creditor Trust's Schorsch Suit

    More of a bankruptcy trust’s damage claims against Nicholas S. Schorsch’s former real estate investment trust empire and associates survived dismissal Thursday in a follow-up to a Delaware Chancery Court ruling that already had allowed the “core” allegation to proceed.

  • April 5, 2018

    Blackstone Offers €1.9B For Spain Hotel REIT Hispania

    The Blackstone Group LP has made an offer to acquire Spanish hotel group Hispania Activos Inmobiliarios SOCIMI SA in a deal that values the real estate investment trust at roughly €1.9 billion ($2.3 billion), according to an announcement Thursday from a Blackstone investment vehicle seeking to buy the company.

  • April 5, 2018

    Windstream, Investors Float $10.5M REIT Suit Settlement

    A class of investors in telecommunications firm Windstream Holdings Inc. floated a proposed settlement of its class action suit against the directors of the company centered on its spinoff of assets into a real estate investment trust Wednesday, with insurers paying out $10.5 million to the shareholders.

  • April 5, 2018

    BIA Win In Okla. Oil Lease Row Affirmed By 10th Circ.

    The Tenth Circuit on Thursday said a lower court was right to throw out a putative class action filed by two Oklahoma landowners, deciding the suit made imprecise allegations that the Bureau of Indian Affairs did not conduct the necessary environmental analysis before approving oil leases.

  • April 5, 2018

    PennEast Needs NJ Land For $1B Pipeline, Judge Told

    PennEast Pipeline Co. LLC on Thursday told a federal judge that it needs immediate access to more than 100 New Jersey properties along the course of its planned $1 billion natural gas pipeline or else it won't be able to complete time-sensitive environmental assessments needed to meet regulatory deadlines for the project.

  • April 5, 2018

    Wichita Tribe Asks Oklahoma Court To Nix Land Row Suit

    The Wichita and Affiliated Tribes on Wednesday urged an Oklahoma federal court to toss a land row suit by the Caddo Nation of Oklahoma claiming that a tribal history center threatens ancestral graves, saying the Caddo Nation hadn't furnished evidence for its claims and that many of them are moot since construction of the center has been completed.

  • April 5, 2018

    NJ Gov. Sends Prepaid Property Tax Bill Back For Changes

    New Jersey Gov. Phil Murphy issued a conditional veto Thursday and recommended changes to a bill that would allow taxpayers to make dedicated prepayments toward anticipated property taxes and allow homeowners to prepay any quarterly property tax installment before the issuance of the tax assessment.

  • April 5, 2018

    Real Estate Rumors: HCP, Puma, Related

    Real estate investment trust HCP has reportedly sold a Florida senior living property for $75 million, sports retailer Puma is said to be close to a deal to lease space on Fifth Avenue in Manhattan, and a Related Group venture has reportedly scored $112.1 million in construction financing for a Miami condo project.

  • April 5, 2018

    Texas Homeowners Sue Engineering Co. Over Harvey Damage

    Hundreds of homeowners launched a lawsuit Wednesday in Texas state court saying design flaws in levee systems constructed by engineering firm Costello Inc. allowed water to flood into their neighborhood during Hurricane Harvey, causing severe and long-lasting damage and destruction to their properties.

  • April 5, 2018

    NJ Panel Advances SALT Cap Workaround To Full Assembly

    The New Jersey Assembly Appropriations Committee advanced a bill Thursday that would provide property tax credits to taxpayers making certain qualified charitable donations, an effort to counter the federal tax reform, which limits the federal state and local tax deduction to $10,000.

  • April 5, 2018

    Woodbridge Creditor Seeks To Halt Ponzi Class Actions

    Comerica Bank moved Wednesday to put the kibosh on five proposed class actions alleging the bank “knowingly provided substantial assistance” to the purported $1.2 billion Woodbridge Ponzi scheme, telling a Delaware bankruptcy court the suits should be stayed and the claims sorted out in Woodbridge’s Chapter 11 case.

  • April 5, 2018

    Fla. Atty Convicted Of Mortgage Fraud Faces Disbarment

    A referee on Wednesday recommended disbarment for a Miami attorney who was sentenced to prison for serving as the title attorney for multiple fraudulent real estate transactions in a mortgage fraud scheme.

  • April 5, 2018

    MGM REIT To Pay $1B For Hard Rock’s Ohio Rocksino

    Hospitality real estate investment trust MGM Growth Properties LLC said Thursday it will pay Ohio-based Milstein Entertainment LLC $1.06 billion for the Hard Rock Rocksino Northfield Park, a gaming and entertainment facility in the suburbs of Cleveland.

  • April 5, 2018

    Fried Frank Guides GMS' $627M Purchase Of WSB Titan

    Fried Frank Harris Shriver & Jacobson LLP represented GMS Inc. in connection with its $627 million purchase, announced Thursday, of private equity-backed WSB Titan, a provider of gypsum for the commercial and residential real estate markets.

  • April 5, 2018

    $84M Awardee Says Offshore Assets Are Within Court's Reach

    A real estate investor who won an $84 million arbitral award following an investment dispute told the Ninth Circuit on Wednesday that a recent ruling in a separate case in California backs up his argument that assets squirreled away by his former business partner to a Liechtenstein trust are within the court’s reach.

  • April 5, 2018

    Anadarko Wants To Keep Drilling Dispute Win At 10th Circ.

    Anadarko E&P Onshore LLC told the Tenth Circuit on Wednesday that a lower court got it right when it ruled against landowners in their suit alleging that the drilling method it used to extract oil and gas constituted trespassing, arguing that the extraction complied with industry standards.

  • April 4, 2018

    Real Estate Rumors: Portland, Country Garden, BAC Florida

    The city of Portland, Tennessee, is reportedly eyeing the purchase of a nine-hole golf course, Chinese developer Country Garden is said to have bought a London site where it's planning a $563 million project, and BAC Florida Bank has reportedly loaned $8.65 million for a recent $13.16 million single-family home portfolio deal in the state.

  • April 4, 2018

    Romanian Bank Shells Out €315M For Eurobank Units

    Romanian bank Banca Transilvania has acquired 99.15 percent of shares owned by Eurobank Group in Bancpost SA and affiliated units for €315 million ($386.8 million) in a deal that will mark Eurobank’s departure from the country, the company said Wednesday.

  • April 4, 2018

    Deutsche Bank, Morgan Stanley Settle RMBS Suit

    Deutsche Bank National Trust Co. on Wednesday resolved its nearly 4-year-old suit accusing a Morgan Stanley unit of stuffing shoddy loans into a $735 million residential mortgage-backed securitization trust, having received settlement approval from a majority of the trust's investors.

  • April 4, 2018

    Fla. Justices Won't Hear County's Tax Fight Over Condo Land

    The Florida Supreme Court declined Wednesday to take up Escambia County’s appeal of a ruling that said owners of condominium units in a Santa Rosa Island complex do not have to pay property taxes on the county-owned land underneath the condos that is leased to the association.

Expert Analysis

  • A Look At Air Rights In Boston, San Francisco And New York

    Lawrence DiCara

    Though allowing the transfer of unused development rights carries some disadvantages, it has encouraged developers to utilize air rights and improve upon some of America's largest cities, say attorneys with Nixon Peabody LLP and Katherine Soule of the Northeastern University School of Law.

  • When To Consider Modifying TILA Rescission Procedures

    Gennifer Bridges

    The Truth in Lending Act can sometimes put lenders on their heels by allowing borrowers to exercise the right of rescission before tendering benefits received under a contract. However, borrowers can avoid this situation if they seek an order to alter the statutorily prescribed procedures for rescission, says Gennifer Bridges of Burr & Forman LLP.

  • How To Serve Your Blind Client Effectively

    Julia Satti Cosentino

    While a client’s visual impairment can create challenges for an attorney, it also can open up an opportunity for both attorney and client to learn from each other. By taking steps to better assist clients who are blind or visually impaired, attorneys can become more perceptive and effective advisers overall, say Julia Satti Cosentino and Nicholas Stabile of Nutter McClennen & Fish LLP.

  • Don't Let PFAS Leave A Mark On Your Business Transaction

    Alexandra Farmer

    Growing regulatory and litigation focus on per- and poly-fluorinated alkylated substances, combined with pressure to streamline due diligence, poses a challenge for environmental transactional lawyers tasked with review of industries and properties currently or previously involved in the manufacture, distribution or sale of PFAS or products containing PFAS, say Alexandra Farmer and Laura Mulherin of Kirkland & Ellis LLP.

  • The PHH Decision And Its Consequences For The CFPB

    Eric Mogilnicki

    With the D.C. Circuit's decision in PHH v. Consumer Financial Protection Bureau Wednesday, the bureau prevailed on an important constitutional issue. However, the full content and context of the court’s opinion offers as much to bureau critics as it does to its supporters, say Eric Mogilnicki and Andrew Smith of Covington & Burling LLP.

  • Approaching Restaurant Leases As A Tenant: Part 2

    Excerpt from Lexis Practice Advisor
    Michael Kent

    When negotiating a restaurant lease, counsel for a prospective tenant must pay close attention to the process as well as to local laws and regulations, which can sometimes vary greatly with major substantive consequences, says Michael Kent of Kent Beatty & Gordon LLP in the final part of this article.

  • Opinion

    Evolving Due Process In The Digital Age

    Stephen Kane

    Because courts have not modernized as quickly as companies like Amazon, Tesla and Apple, Americans are becoming increasingly dissatisfied, but technological innovations may be able to help Americans access their due process, says Stephen Kane of FairClaims.

  • Mortgage Pricing Scrutiny Poses New Challenges For Lenders

    Jeffrey Naimon

    Recent federal and state enforcement actions indicate that, even if regulators are not setting “the right price” for a loan, they are increasingly willing to declare certain prices “wrong.” This is a troubling development for mortgage lenders, say Jeffrey Naimon and Benjamin Olson of Buckley Sandler LLP.

  • The New Limited Interest Deduction: Good For Business?

    Jennifer Tolsky

    The Tax Cuts and Jobs Act purports to lower taxes and simplify the Internal Revenue Code, but the new limitation on the deductibility of business interest seems contrary to this objective. This change will certainly cause many businesses to pause and consider whether debt financing is the best option for them, says Jennifer Tolsky of Gould & Ratner LLP.

  • Centers Of Influence Are Key To Small Law Firm Rainmaking

    Frank Carone

    In a national survey of 378 small law firms, partners ranked client referrals as the most important means of business development. Yet studies reveal that while professional services providers obtain most new clients from existing client referrals, their best new clients — the ones providing the largest pool of investable assets — overwhelmingly come from “centers of influence,” says Frank Carone, an executive partner at Abrams Fensterman.