Real Estate

  • September 22, 2017

    BofA Loses Bid To Drop Class Allegations In Loan Suit

    A Colorado federal judge has denied Bank of America’s bid to strike class allegations from a suit accusing the bank and its contractors of working together to deny loan modifications to eligible homeowners under the Home Affordable Modification Program.

  • September 22, 2017

    Ex-Attys Ask For Way To Get Paid In $350M EB-5 Fraud Case

    Former attorneys for embattled Jay Peak ski resort owner Ariel Quiros asked a Florida federal judge Friday to modify an asset freeze in the $350 million EB-5 visa fraud suit against their ex-client to allow them to be paid. 

  • September 22, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen Deutsche Bank sue a British law firm, a new insolvency filing by a Lehman creditor against the defunct bank's trustees and a dispute between an insurance-backed guarantee underwriter and a Lloyd's broker. Here, Law360 looks at those and other new claims in the U.K.

  • September 22, 2017

    QBE Can't Secure Coverage Of Force-Placed Insurance Suits

    A New York state judge has brought an end to QBE Americas Inc.’s suit seeking insurance coverage for a $19 million settlement of claims that it paid kickbacks to banks that drove up premiums for force-placed insurance, saying the claims are clearly excluded by the policies.

  • September 22, 2017

    Calif. Panel Says Real Estate Atty Was Wrongly DQ'd

    A California appeals court reversed on Thursday a trial court's decision to disqualify Spainhour Law Group from defending Real Estate Portfolio Management LLC and its owner against a suit filed by another real estate company over an allegedly breached partnership agreement.

  • September 22, 2017

    Real Estate Rumors: Reliance, Google, Jernigan

    Reliance Realty Partners has reportedly bought a Manhattan rental building for $30.8 million; Google is said to have dropped $130.9 million on an office campus in Boulder, Colorado; and Jernigan Capital has reportedly loaned $14.66 million for a Florida self-storage development project.

  • September 22, 2017

    DLA Piper Renews 119K-Square-Foot Silicon Valley Lease

    DLA Piper LLP will remain in its 119,000-square-foot East Palo Alto, California, office until at least 2023, striking a deal to renew its lease at the firm’s office in University Circle, according to a statement Thursday by real estate investment trust Columbia Property Trust Inc.

  • September 22, 2017

    Texas Justices To Hear Anadarko Drilling Lease Fight

    The Texas Supreme Court on Friday granted a request from TRO-X LP to review a case stemming from an oil and gas lease dispute with Anadarko Petroleum Corporation, more than a year after a lower appellate court reversed a trial court win in TRO-X's favor that gave TRO-X a working interest in five leases.

  • September 21, 2017

    Singapore's GIC Joins $909M Deal For Tokyo Disney Sheraton

    A joint venture of Singapore’s sovereign wealth fund GIC Private Ltd. and Japanese real estate investment trust Invincible Investment Corp. is buying a Sheraton hotel near the Disney Resort in Tokyo for $909.1 million, according to separate announcements from the buyers Thursday.

  • September 21, 2017

    NJ Court Orders Narrower Class In Renters' Atty Fee Row

    The New Jersey Appellate Division on Thursday vacated a lower court’s refusal to certify a class of tenants who alleged their landlord charged excessive attorneys’ fees for evictions, ruling that members of the proposed class who didn’t owe any rent or other charges upon leaving their apartments could still pursue claims.

  • September 21, 2017

    Real Estate Rumors: James Dyson, Silverman, Spaces

    James Dyson of the Dyson appliance firm is reportedly paying between $73 million and $83 million for a Park Avenue penthouse in Manhattan, Silverman Group is said to have picked up two Florida industrial buildings for $30.7 million, and co-working firm Spaces is reportedly leasing 40,000 square feet in Chicago.

  • September 21, 2017

    Amazon Takes $20M Tax Carrot To Expand In NYC Inc. is expanding its New York City presence with a 359,000-square-foot office, thanks to $20 million in performance-based tax credits coming the online retail giant's way under a jobs and investment program, the state governor said Thursday.

  • September 21, 2017

    Lehman Faulty-Mortgage Suit Must Wait, FDIC Says

    The Federal Deposit Insurance Corp. asked a New York bankruptcy court Thursday to hit the snooze button on a suit filed by Lehman Brothers against Guaranty Bank over the sale of shoddy mortgages, saying Lehman must go through an administrative claims process first.

  • September 21, 2017

    Ill. High Court Backs Reversal Of $1.8B Power Line Approval

    The Illinois Supreme Court on Thursday upheld the reversal of a state commission's decision to allow construction of a $1.8 billion transmission line serving various wind farms, backing an appellate court's conclusion that the project's developer isn’t a public utility so the project can't be certified under state law.

  • September 21, 2017

    6th Circ. Says Islamic Center Tax Row Not A Federal Matter

    The Sixth Circuit said in a published opinion Wednesday that the Islamic Center of Nashville failed to exhaust its state-court remedies over a denied property tax exemption, agreeing with a lower court that it lacked jurisdiction under the Tax Injunction Act to hear the church's claims.

  • September 21, 2017

    Moscow Mall Investor Wins Asset Fight In $93M Award Suit

    A California federal judge on Wednesday ordered a former Russian lawmaker to turn over assets held in an offshore trust to a former business partner trying to collect a $93 million award against him, finding that the court has jurisdiction over the account.

  • September 21, 2017

    BlackRock Selling Singapore Tower For Nearly $1.6B

    A property fund of asset management shop BlackRock Inc. is selling a Singapore office and retail property to Singapore developer CapitaLand Commercial Trust for roughly S$2.12 billion ($1.57 billion), according to an announcement on Thursday from CapitaLand.

  • September 21, 2017

    Darden Spinoff REIT To Pay $67M For 41 Restaurants

    Real estate investment trust Four Corners Property Trust said Wednesday it has inked an agreement to acquire 41 restaurant properties from Washington Prime Group Inc. for a purchase price of about $67.2 million in cash.

  • September 20, 2017

    Holland & Knight Inks $5M Deal To End Malpractice Claims

    Holland & Knight LLP has agreed to pay $5 million to escape a malpractice suit brought by the bankruptcy trustee for a Miami hotel condominium project over its alleged failure to tell one of the condo project owners about the other’s planned fraud.

  • September 20, 2017

    Ga. Landowners Take Transco Pipeline Fight To 11th Circ.

    A group of Georgia landowners is asking an Eleventh Circuit panel Thursday to reverse a decision allowing Transcontinental Gas Pipe Line Co. to access their land to build a pipeline without paying compensation upfront, in a case that could help shape the legal landscape of natural gas pipeline disputes.

Expert Analysis

  • Real Estate Industry Must Ride The Technology Wave

    Louis Archambault

    The real estate industry may be skeptical of technological innovations as unnecessarily risky or unstable until they can be properly analyzed. However, there is now also a present risk for business obsolescence, where fear of the unknown is trumped by the fear of being left behind, says Louis Archambault of Saul Ewing Arnstein & Lehr LLP.

  • Is An Assault On The Flood Exclusion Coming?

    Randy Maniloff

    There will be plenty of similarities between Katrina insurance claims and those arising from Harvey and Irma. This time around, however, expect to see arguments made that the Insurance Services Office’s 2011 amendments to the flood exclusion, contained in the organization’s homeowner’s policies, affect certain claims, says Randy Maniloff of White and Williams LLP.

  • Toys R Us Faces Chapter 11 Challenges

    Stephen Selbst

    Toys R Us recently filed for Chapter 11 bankruptcy, citing the impact of e-commerce as a major factor. Other recent retail bankruptcies underscore how difficult it is for retailers to recover from a bankruptcy filing, and creditors must be prepared, says Stephen Selbst of Herrick Feinstein LLP.

  • Opinion

    When Antitrust Becomes Anti-Competitive

    Glenn Manishin

    Xceligent is attempting to morph a sordid case about industrial espionage into a counterclaim for unlawful monopolization. Yet the idea that CoStar is obligated as an antitrust matter to help Xceligent develop a competing product totally lacks legal validity, says attorney Glenn Manishin.

  • Opinion

    Digital Realty Trust V. Somers May Kill Corporate Compliance

    Stephen Kohn

    During its upcoming term, in Digital Realty Trust v. Somers, the U.S. Supreme Court will decide whether employees who report violations internally are protected under Dodd-Frank. If the court requires whistleblowers to report violations directly to the U.S. Securities and Exchange Commission, internal corporate compliance programs will be crippled, says Stephen Kohn of Kohn Kohn & Colapinto LLP.

  • Storm-Damaged Businesses Need Environmental 'Baselines'

    Kevin Daehnke

    What if, after a storm like Hurricane Harvey or Irma, a small business finds itself liable for hundreds of thousands (or even millions) of dollars of environmental contamination that spilled out during the storm? This is a very real concern for businesses that store and use chemicals, but there are ways to establish protections, says Kevin Daehnke of Daehnke Cruz Law Group LLC.

  • The Role Legal Finance Can Play In Firm Year-End Collections

    Travis Lenkner

    Payment collection delays have caused law firms to seek new options, one of which is litigation finance. In this context, litigation finance can offer alternative avenues to firms as they approach the end of a fiscal year or partnership distribution dates, says Travis Lenkner of Burford Capital LLC.

  • Valley Forge Quashes School Districts' Reverse Appeals

    John Summers

    In Valley Forge v. Upper Merion, the Pennsylvania Supreme Court held two months ago that school districts' policies and practices related to filing reverse real estate tax assessment appeals violate the state's uniformity clause. Trial courts will now have to apply this decision to scores of districts' reverse appeals, say attorneys with Hangley Aronchick Segal Pudlin Schiller.

  • When Can LLCs Appoint A Special Litigation Committee?

    Muhammad Faridi

    A New York state court’s recent decision in LNYC Loft v. Hudson Opportunity Fund regarding the authority of a limited liability company to appoint a special litigation committee represents a departure in the trend of courts using statutory and common law to address questions that are not directly addressed by an LLC operating agreement, say Muhammad Faridi and Elizabeth Quirk of Patterson Belknap Webb & Tyler LLP.

  • 'Per-Doc' Pricing Can Improve Document Review

    file folder

    Imagine going to a restaurant and ordering your steak medium-rare. The steak arrives burned. You expect the kitchen to bring you another one properly done, right? And you don’t expect to pay for two steaks, do you? Paying a vendor for document review should be no different, says Lisa Prowse, an attorney and vice president at e-discovery firm BIA Inc.