Commercial

  • April 22, 2024

    NYC Real Estate Week In Review

    Davis Polk and Rosenberg & Estis are among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw properties for a variety of asset classes — including an office building — trade hands.

  • April 22, 2024

    Mo. Tax Board Says Horse Breeding Farm Is Agricultural Land

    A Missouri property used to breed and care for horses that are shown at shows should have been classified as agricultural instead of commercial, the state tax commission ruled.

  • April 22, 2024

    Latham-Led CoStar To Buy Matterport In $1.6B Deal

    Latham & Watkins LLP-advised CoStar Group said Monday it has agreed to buy 3D spacial-capture technology company Matterport at an estimated enterprise value of $1.6 billion, in a deal that will add its virtual property tour technology to CoStar's existing real estate information and analytics offerings. 

  • April 19, 2024

    Attys Wary Of 'Zero Tolerance' Approach In New PFAS Rule

    With Friday's finalization of the U.S. Environmental Protection Agency's rule designating two "forever chemicals" as hazardous, the stakes just got higher for real property due diligence work.

  • April 19, 2024

    Casino SPAC Can Return Money, Not Shares, Chancery Rules

    Stockholders in a blank-check company that failed to merge with a Philippines-based casino are entitled to a distribution from $37.5 million sitting in trust, but the company may not redeem any shares until an investor's Delaware lawsuit plays out, a Chancery Court vice chancellor said Friday.

  • April 19, 2024

    Insurers Push To Arbitrate Hurricane Damage Case

    An arbitrator should decide whether a Louisiana property owner's hurricane damage claims must be arbitrated, a group of surplus lines insurers argued in urging the Second Circuit to reject a New York district court's reliance on the circuit's precedent to find the arbitration clause at issue unenforceable.

  • April 19, 2024

    NY AG Doubts Trump Insurer Can Cover $175M Bond

    The New York Attorney General's Office told a Manhattan court Friday it has doubts about a California insurer's ability to cover a $175 million bond imposed on Donald Trump after a civil trial in which he was found responsible for conspiring to inflate his wealth for financial gain.

  • April 19, 2024

    US Trustee Balks At 22% Rate On Petersen Health DIP Loan

    The U.S. Trustee's Office objected Friday to senior living company Petersen Health Care's proposed bankruptcy financing, telling a Delaware judge that the combined 22% interest rate on the $45 million debtor-in-possession loan is "above market."

  • April 19, 2024

    Pillsbury Makes Longtime Commitment To 'Iconic' SF Building

    Pillsbury Winthrop Shaw Pittman LLP has extended the lease on its San Francisco offices for 11 more years, the firm announced Friday.

  • April 19, 2024

    Polsinelli Adds Shareholder To Tax Credit Practice In Dallas

    An attorney who spent more than a decade developing a niche practice specializing in tax credit financing has moved her practice to Polsinelli PC's Dallas office after five years at Munsch Hardt Kopf & Harr PC.

  • April 19, 2024

    The Week In Trump: NY Trial And A High Court Date Loom

    Despite a few snags, jury selection for Donald Trump's hush money trial in Manhattan unfolded relatively quickly, clearing the way for opening statements Monday in the historic case as the former president prepped for a U.S. Supreme Court debate over his supposed immunity.

  • April 19, 2024

    Fried Frank Advises $632M Hotel Portfolio Refinancing

    Fried Frank Harris Shriver & Jacobson LLP advised hotel operator MCR and developer Building and Land Technology on a $632 million refinancing of a portfolio of 53 hotels in more than a dozen states.

  • April 19, 2024

    EPA Says 2 'Forever Chemicals' Are Hazardous Substances

    The U.S. Environmental Protection Agency on Friday officially declared two "forever chemicals" to be hazardous materials under federal law, which could bring a host of consequences for Superfund site cleanups and development projects.

  • April 18, 2024

    What 4 Real Estate Leaders Said At NYU's REIT Symposium

    The public real estate investment trust sector will bounce back from its current troubles "at some point," said Jon Gray, Blackstone's president. He was not the only company executive who sounded hopeful about the industry's future at New York University's 28th annual REIT symposium.

  • April 18, 2024

    Investors In Failed Manila Casino Deal Sue For SPAC Shares

    Shareholders in a blank-check company that failed to take a Philippines casino public have intervened in two Delaware Chancery Court lawsuits to recoup their failed investments, with one seeking to litigate damages from the busted $2.6 billion deal and the other pushing for the company's liquidation.

  • April 18, 2024

    Investor Says Healthcare REIT Ties Undercut Lease Terms

    An activist investor on Thursday urged shareholders to vote against two of National Health Investors Inc.'s incumbent board members at an annual meeting in May, alleging that conflicts of interest between directors on the board and the company's largest tenant are harming the real estate investment trust.

  • April 18, 2024

    Rexford Didn't Fear Competitors Would Get Blackstone Assets

    Rexford Industrial Realty wasn't terribly concerned that a 3 million-square-foot Blackstone industrial portfolio might go to one of its competitor REITs had the company not scooped up the properties earlier this year for roughly $1 billion, Rexford said on its first-quarter earnings call Thursday.

  • April 18, 2024

    Blackstone, Expecting CRE Rebound, Leans Into Deal-Making

    Executives at Blackstone, the world's largest landlord and alternative asset manager, said they see signs that commercial real estate is beginning to bounce back, despite macroeconomic challenges and a shift in how people use offices.

  • April 18, 2024

    Smith Gambrell Hires Ex-Jacksonville, Fla., Deputy GC

    Smith Gambrell & Russell LLP has added a longtime deputy general counsel for the city of Jacksonville, Florida, as counsel within its real estate group and as the head of the Jacksonville office's government affairs practice.

  • April 17, 2024

    Damages Still Possible In Lease Tax Reimbursement Row

    A Court of Federal Claims judge has ruled that the General Services Administration could unilaterally adjust the real estate tax reimbursement methodology under a lease for the Defense Health Agency's headquarters building, but the building owner may still be owed damages.

  • April 17, 2024

    Ga. Jury Finds Supplier At Fault For Botched Herbicide Job

    An Atlanta federal jury on Wednesday found a company hired to thin out woods on a rural Georgia property and a subcontractor brought in to spray the property with herbicide were responsible for wrecking a developer's plans for turning the location into a quail hunting retreat. 

  • April 17, 2024

    Wilmington Trust Wants $33M For Defaulted Mortgage

    Wilmington Trust accused a company in Delaware federal court of owing more than $33 million for a defaulted mortgage loan for a Wilmington, Delaware, property.

  • April 17, 2024

    Racetrack's Unlisted Use Unremarkable, Mich. Justice Says

    A Michigan Supreme Court justice said Wednesday it was not "particularly remarkable" that a zoning ordinance did not list all approved commercial uses, as residents push the court to restrict a race dragway's operations, noting that the law uses examples because it would be impossible to list everything allowed.

  • April 17, 2024

    Prologis Pins Lower Occupancy Rates On Southern California

    Prologis Inc. executives told investors Thursday that the logistics real estate investment trust saw occupancy rates and pricing at slightly lower than expected levels during the first quarter of 2024, driven down largely by lackluster performance in Southern California.

  • April 17, 2024

    SL Green And Vornado Extend, Modify NYC Office Loans

    SL Green Realty Corp. and Vornado Realty Trust modified, extended and partially repaid a $125 million mezzanine loan for a downtown Manhattan office building and also modified and extended a $1.075 billion securitized mortgage, the real estate investment trusts announced.

Expert Analysis

  • Congress Needs To Enact A Federal Anti-SLAPP Statute

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    Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

  • As Sackett Trims Feds' Wetlands Role, States May Step Up

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    The U.S. Supreme Court's recent decision in Sackett v. U.S. Environmental Protection Agency extinguishes federal authority over many currently regulated wetlands — meaning that federal permits will no longer be required to discharge pollutants in affected areas, but also that state regulators may take a more active role, say attorneys at Kelley Drye.

  • Some Client Speculations On AI And The Law Firm Biz Model

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    Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.

  • Trafficking Ruling Offers Liability Lessons For Hospitality Cos.

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    A California federal court recently dismissed a lawsuit accusing several national hotel chains of knowingly benefiting from sex trafficking at their premises, highlighting how hospitality leaders can protect their guests and staff, and shield their companies from liability and reputational damage, says Danielle Dudai at Hall Booth.

  • A Lawyer's Guide To Approaching Digital Assets In Discovery

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    The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.

  • High Court's Ethics Statement Places Justices Above The Law

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    The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.

  • What's Unique — And What's Not — In Trump Protective Order

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    A Manhattan judge's recent protective order limiting former President Donald Trump's access to evidence included restrictions uniquely tailored to the defendant, which should remind defense attorneys that it's always a good idea to fight these seemingly standard orders, says Julia Jayne at Jayne Law.

  • Time For Law Schools To Rethink Unsung Role Of Adjuncts

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    As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.

  • Justices Curb Fraud Theories, But That May Not Deter Feds

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    The U.S. Supreme Court’s opinions last week in Ciminelli v. U.S. and Percoco v. U.S. are the latest in a line of rulings aiming to limit the wire fraud statute’s application to state public corruption cases, but federal prosecutors will probably continue pursuing such cases using different charging language and other laws, says ​​​​​​​Alison Anderson at Boies Schiller.

  • Good Faith Buyer Lessons From 5th Circ. Bankruptcy Ruling

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    The Fifth Circuit’s recent ruling in Palm Springs II, affirming the sale of property to a senior lender, is notable for its guidance on Section 363(m), including the ability of a senior lender to remain a good faith purchaser despite squeezing out a junior lender, says Shane Ramsey at Nelson Mullins.

  • Tips For In-House Legal Leaders In A Challenging Economy

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    Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.

  • How Cities Can Tackle Post-Pandemic Budgeting Dilemmas

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    Due to increasing office vacancies around the country, cities may consider politically unpopular actions to avoid bankruptcy, but they could also look to the capital markets to ride out the current real estate crisis and achieve debt service savings to help balance their budgets, say attorneys at Cadwalader.

  • What Associates Need To Know Before Switching Law Firms

    Excerpt from Practical Guidance
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    The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.