Real Estate

  • March 28, 2017

    Bill Barring Restrictions On Airbnb Advances In Fla. House

    A Florida House subcommittee voted Tuesday to approve a bill that bars cities and counties from passing new ordinances restricting short-term rentals, setting up a showdown between Tallahassee and Miami, where local governments have launched an attack on Airbnb and similar short-term rental platforms.

  • March 28, 2017

    SEC Takes 2nd Shot At BankAtlantic CEO In Disclosure Suit

    The U.S. Securities and Exchange Commission opened its second trial against BankAtlantic Bancorp Inc. CEO Alan Levan Tuesday, telling a Florida federal jury that he downplayed weaknesses in the bank's commercial real estate portfolio to the investing public in the early days of the financial crisis.

  • March 28, 2017

    Okla. Tribal Landowners Get Pipeline Kicked Off Property

    An Oklahoma federal judge on Tuesday ordered Enable Midstream Partners LP to remove a natural gas pipeline from land held in trust for a group of tribal landowners by the federal government, ruling that the company is liable for trespassing on the landowners' property.

  • March 28, 2017

    Calif. Borrower Says Judge’s Pro-Bank Bias Merits Recusal

    A homeowner who sued mortgage companies earlier this month for allegedly trying to foreclose on his property illegally asked the assigned California federal court judge to step aside Monday, saying the jurist has tossed 56 out of 57 foreclosure-related cases to come before him since 2008.

  • March 28, 2017

    Cos. Urge Court To Toss Action Over Smelting Contaminants

    Three companies urged a New Jersey federal court Tuesday to toss a putative class action brought against them by Carteret, New Jersey, residents over environmental contamination from a defunct smelting plant, claiming the lawsuit fails to specify the alleged conduct of each business and instead lumps the parties together.

  • March 28, 2017

    Brownstein Hyatt, Locke Lord Steer $82M Denver Loan

    Brownstein Hyatt Farber Schreck LLP represented Griffis Residential in connection with its $81.9 million loan from a Locke Lord LLP-counseled life insurance lender for Griffis' recent purchase of a 400-unit residential Denver property, a deal borrower-side broker Holliday Fenoglio Fowler LP announced on Monday.

  • March 28, 2017

    NY Frees Ocwen From Monitor After Servicing Improvements

    Ocwen Financial Corp. on Monday announced that it no longer had to have a third-party monitor overlooking its mortgage servicing operations as part of an agreement with New York state regulators, bringing the company one step closer to being able to acquire more mortgage servicing rights.

  • March 28, 2017

    Real Estate Rumors: Ascend, America Press, Silvershore

    Ascend Group is reportedly looking to pay $46.5 million for air rights in New York, America Press is said to be leasing nearly 15,000 square feet on Avenue of the Americas, and Silvershore Properties is reportedly looking to sell nearly half its New York rental and retail properties.

  • March 28, 2017

    DLA Steers Union Investment's $90M Seattle Hilton Hotel Buy

    DLA Piper represented Union Investment in connection with its purchase of a Hilton Garden hotel in downtown Seattle for roughly $90 million, a matter the German fund manager announced on Monday.

  • March 28, 2017

    XIN Development Nabs $108M Loan For NY Condo Project

    XIN Development International Inc. has scored $108 million in construction financing from Bank of the Ozarks Inc. for a New York condo project that will also have ground-floor retail, according to an announcement on Tuesday from Eastern Consolidated, which brokered the deal for XIN Development.

  • March 27, 2017

    Attys Bungled Briefs In Fannie, Freddie Suit, DC Circ. Told

    Two companies told the D.C. Circuit on Friday that their attorneys’ misunderstanding of a briefing order caused the appellate court to improperly toss contract claims accusing the U.S. Department of the Treasury and Federal Housing Finance Agency of sweeping profits from Fannie Mae and Freddie Mac to the Treasury.

  • March 27, 2017

    DOI Urges Judge To Nix Calif. Tribe's Suit Over Casino Project

    The U.S. Department of the Interior urged a California federal judge Friday to toss the Picayune Rancheria of Chukchansi Indians’ challenge to a departmental decision to issue procedures to allow a neighboring tribe's casino project, saying the government didn't need backup from the state's governor.

  • March 27, 2017

    Stinson Staves Off DQ In 2 ResCap MDL Cases

    A Minnesota federal judge said Monday that Stinson Leonard Street LLP would not be barred from representing two mortgage lenders in Residential Capital LLC’s shoddy loan multidistrict litigation, saying their cases differed from one where the law firm could not participate.

  • March 27, 2017

    Longfellow Nabs $78M Loan From Citizens Bank, Capital One

    Citizens Bank NA and Capital One Financial Corp. have loaned $77.5 million to Longfellow Real Estate Partners LLC for a technology-focused office project that will include restaurant and retail components, according to a release Monday from borrower-side broker Holliday Fenoglio Fowler LP.

  • March 27, 2017

    Supreme Court Takes Up Ch. 11 Nonstatutory Insider Dispute

    The U.S. Supreme Court agreed Monday to hear an appeal concerning the Ninth Circuit's standard for determining whether a Chapter 11 creditor qualifies as a “nonstatutory insider,” in a case where an intercompany claim against a bankrupt real estate owner was sold to an insider’s friend.

  • March 27, 2017

    Mid-Continent Nabs 5th Circ. Win On $63M Bankruptcy Claim

    The Fifth Circuit found that Mid-Continent Casualty Co. need not pay the $63 million that Kipp Flores Architects LLC sought from the insurer's bankrupt policyholder after winning a copyright dispute, saying Friday no final judgment was entered in the bankruptcy.

  • March 27, 2017

    Real Estate Rumors: Beacon Capital, Baywood Hotels, XIN

    Beacon Capital is reportedly close to buying a San Francisco office tower, Baywood Hotels is said to have landed $15.4 million in financing for a Florida project, and XIN Development reportedly scored a $108 million loan for a New York condo project.

  • March 27, 2017

    Sullivan Worcester Reps SNH On $261M Property Stake Sale

    Sullivan & Worcester LLP represented Senior Housing Properties Trust in connection with its $261 million sale, through a new joint venture, of a stake in two Boston life sciences and retail buildings to an unnamed sovereign institutional investor, according to an announcement on Monday from SNH.

  • March 27, 2017

    Policy Doesn't Cover Botched RE Deal, Utah Justices Rule

    The Utah Supreme Court on Friday affirmed a lower court's ruling that Houston Casualty Co. didn't breach its duty to defend or indemnify a real estate agent in litigation over a botched development deal, finding that the agent didn't perform services "for a fee" as required by the insurer's policy.

  • March 27, 2017

    3 Things To Watch For As Congress Takes Up EB-5 Renewal

    Congress in the coming weeks will address what to do with the EB-5 visa program, and lawyers say a host of unknowns — including what President Donald Trump thinks of the program — mean developers and investors are on tenterhooks about what they'll need to do next. Here, Law360 lays out three things to watch for as Congress takes up EB-5.

Expert Analysis

  • Rising Student Loan Defaults Signal Litigation Ramp-Up

    Vaishali S. Rao

    When default rate increases begin to trend in particular markets, regulators take policy, legislative and enforcement actions in an attempt to correct the marketplace. Current student loan market signals, notably the rise in student loan defaults, make student lending market participants susceptible to increased regulatory scrutiny, and likely resulting spikes in follow-on private litigation as well, says Vaishali Rao of Hinshaw & Culbertson LLP.

  • Are Your In-House Lawyers Happy?

    Aric Press

    What is the mood of the nation’s in-house lawyers? Aric Press — a partner at Bernero & Press LLC and former editor-in-chief of The American Lawyer — shares the findings of a recent survey of more than 800 in-house counsel.

  • Liability Of Premises Owners In The Age Of Social Media

    Douglas Pfeiffer

    When social media is used to broadcast or coordinate the details of planned and potentially criminal conduct — such as looting stores or starting fights — what legal responsibility does a premises owner have to an invitee injured by the resulting criminal action? Businesses will not be able to avoid liability by willfully ignoring social media, say Douglas Pfeiffer and Joshua Kahn of Miles & Stockbridge PC.

  • Expect More CFPB Scrutiny Of Nonbank Mortgage Servicers

    Craig Nazzaro

    Citigroup's plans to exit the mortgage servicing business and sell off a $97 billion portfolio to a nonbank servicer continues the trend of nonbanks capturing more market share year after year. The Consumer Financial Protection Bureau is well aware of this trend, and the call for more oversight will only get louder, says Craig Nazzaro of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • How Past And Present Aerial Photography Can Make The Case

    David Ruiz

    Many cases hinge on visual evidence. And aerial photography can play a key role, showing how geographic features or buildings looked in the past or have changed over time. Legal teams should be aware of the aerial photography resources available and the impact technological advances in the field may have on helping prove their case, says David Ruiz of Quantum Spatial Inc.

  • Google, NASA, Planes And A Stronger Legal Team

    Nicholas Cheolas

    Why did minor mechanical issues bring down two airplanes, while a catastrophic engine explosion did not bring down a third? The answers lie, in part, in research conducted by NASA in the wake of those crashes and, more recently, by Google. And those answers can help organizations build better teams to meet today’s legal industry challenges, says Nicholas Cheolas of Zelle LLP.

  • Acquiring Midstream Assets And Gas Agreements: Part 2

    Greg Krafka

    Because the value of natural gas gathering systems, processing plants and related midstream assets depends on fees to be paid under associated gas gathering and processing agreements, terms and conditions of these agreements — with respect to acreage dedication, well connections, covenants running with the land, and other matters — must be scrutinized before asset purchases, say Greg Krafka and Jim Strawn of Winstead PC.

  • Construction Projects Require Special Contracts In Nevada

    Paul Georgeson

    Standard form construction contracts and custom contracts developed for use in other states do not comply with Nevada law. When beginning a construction project in Nevada, those contracts must be modified to account for the state's unique construction statutes, says Paul Georgeson of McDonald Carano LLP.

  • 10 Tips For Better Legal Negotiations

    Marc J. Siegel

    Like everything else, the art of negotiation starts by having a conversation. It’s about being respectful, finding common ground, knowing what you want and, most importantly, listening. A conversation between two lawyers can be complicated at best, but by employing a few techniques and tactics, it doesn’t have to be that way, says Marc Siegel of Siegel & Dolan Ltd.

  • Monthly Column

    Gray Matters: Decision Error

    Gray Matters

    Lawyers make hundreds of decisions during the course of advising a client, consummating a transaction or litigating a case. In this new column, dispute resolution experts Bob Creo and Selina Shultz explore the theory, science and practical aspects of how decisions are made in the legal community.