Commercial
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February 11, 2025
Bannon Cops To Fraud Scheme In Border Wall Case
Donald Trump's former chief strategist, Steve Bannon, pled guilty Tuesday to a single felony fraud scheme charge in New York state court as part of a deal with Manhattan prosecutors to avoid jail time in his "We Build The Wall" charity fraud case.
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February 10, 2025
Calif. Ruling Holds Wildfire Debris Not A Coverable Loss
Two California homeowners didn't have a covered claim for wildfire debris that infiltrated their home, a state appeals panel ruled, saying there was no evidence the debris caused the kind of loss or damage required for coverage.
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February 10, 2025
Morgan Stanley Exec Sees US Real Estate Poised For Upturn
There is a lot of volatility and uncertainty in the world today, but a number of conditions point to the U.S. real estate market still being well-positioned to forge a recovery over the next few years, a leader of Morgan Stanley's real estate investment arm told attendees at a recent conference in Miami.
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February 10, 2025
Calif. Tribe Says DOI Gives It No Protection In Casino Row
The Federated Indians of Graton Rancheria told a California federal judge that the U.S. Department of the Interior filed an incomplete status report about how it will monitor another tribe's project plans for the construction of a casino, saying the report fails to protect FIGR.
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February 10, 2025
Ill. House Bill Seeks Study Of Eliminating Property Tax System
Illinois would direct its Department of Revenue and the governor's Office and Management and Budget to determine the possibility of eliminating the state's property tax system and replacing the revenue with income tax receipts under a bill introduced in the state House of Representatives.
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February 10, 2025
Simpson Thacher Brings On Registered Funds Partner In NY
Simpson Thacher & Bartlett LLP has hired a New York-based partner in its registered funds practice to focus on real estate and capital markets, the firm said Monday.
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February 10, 2025
Greenberg Traurig, Kirkland Guide $195M Hotel, Condo Loan
Property owner, operator and developer GFI Capital Resources Group Inc. borrowed a $195 million mortgage loan for its downtown Manhattan hotel and condominium building in a deal guided by Greenberg Traurig LLP and Kirkland & Ellis LLP.
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February 10, 2025
NYC Real Estate Week In Review
Greenberg Traurig, McDermott Will & Emery and Pryor Cashman are among the law firms that landed work on the largest New York City real estate deals that hit public records last week, with an SL Green Realty Manhattan transaction leading the way.
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February 10, 2025
Latham, Hogan Lovells Advise Hyatt's $2.6B Playa Hotels Buy
Latham & Watkins LLP guided Hyatt Hotels Corp. on a $2.6 billion acquisition announced Monday of Playa Hotels & Resorts NV — which operates resorts in Mexico, the Dominican Republic and Jamaica — and worked with Hogan Lovells on the deal.
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February 10, 2025
Ill. Bill Seeks Income Tax Break For Child Care Property Tax
Illinois would create an individual and corporate income tax deduction for property taxes paid by privately owned child care centers under a bill introduced in the state House of Representatives.
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February 07, 2025
Project Foes Face Suit Over Pittsburgh Gay Bar Historic Filing
A developer and the estate for the former owner of a landmark Pittsburgh gay bar have sued two residents of the city's Polish Hill neighborhood, claiming they moved to deem the property historic as a ploy to frustrate plans for a market-rate housing project at the site.
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February 07, 2025
Appellate Court OKs Trim Of Goldman Family Portfolio Battle
A New York state appellate court affirmed a trial court's toss of several claims brought against the late Sol Goldman's real estate empire by inheritors who allege his daughter squeezed them out of the family business and manipulated an appraisal when they sought to cash out on their stake.
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February 07, 2025
Property Plays: KKR, Freshfields, Sonesta
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
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February 07, 2025
Industrial REIT Says Interest Rates Dampen 2025 Outlook
A Rexford Industrial Realty Inc. executive told investors that, while the real estate investment trust had "solid results" in the fourth quarter, high interest rates and other economic factors are poised to slow its growth in 2025.
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February 07, 2025
Judge Sides With Ga. Railroad In Eminent Domain Battle
A Georgia state court judge sided Thursday with a railroad company in an eminent domain fight with residents opposing the construction of a rail spur through their property, upholding a Georgia Public Service Commission ruling that gave the green light to the condemnation.
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February 07, 2025
Under The Radar: Bankruptcy News You May Have Missed
A onetime financial adviser to UpHealth is opposing the debtor's Chapter 11 plan, Hearthside Food Solutions' official committee of unsecured creditors has balked at the company's executive bonus proposal in bankruptcy, and one-time investors in defunct real estate investment firm RealtyShares willingly dismissed a suit against the firm's former directors, litigation that had outlived the firm's Chapter 7 by more than a year.
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February 07, 2025
Ballard Spahr Prepares Move To New Downtown Denver Office
Ballard Spahr LLP plans to move 60 of its attorneys and other employees to a new downtown Denver office in August, having signed an 11-year lease for 19,000 square feet of space, the law firm announced Friday.
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February 07, 2025
Katten Real Estate Partner Joins Greenberg Traurig In Chicago
Greenberg Traurig LLP has added former Katten Muchin Rosenman LLP partner Daniel Elrod as a shareholder in its Chicago real estate practice, bringing experience advising debt funds, life insurance companies and institutional lenders on a variety of deals.
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February 07, 2025
Aztec Fund To Sell 3 Office Buildings To Settle Ch. 11 Dispute
Private equity investment group Aztec Fund told a Texas bankruptcy judge Friday it will sell three office buildings and aim to liquidate through Chapter 11 to resolve a dispute over the insolvency case with Bank of America.
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February 07, 2025
2 RE Execs, Brother Assaulted 60 Women, Feds Say
Three brothers from Florida, including two prominent real estate executives, denied sex-trafficking charges in Manhattan federal court Friday alleging they conspired to drug and rape women, as a prosecutor said the authorities have interviewed over 60 victims.
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February 06, 2025
Atlanta Can't Dodge Suit Over Foiled Starbucks Development
The City of Atlanta can't dodge allegations from a property owner that it illegally condemned a disused fast food joint, and in doing so foiled his plans to redevelop the land into a Starbucks coffee shop, a Georgia federal judge said Thursday.
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February 06, 2025
Policyholder Attys See Calif. Smoke Case As Boon For LA
Smoke-damaged businesses in Los Angeles could benefit from a California federal court decision in January that likened smoke to asbestos, while differentiating smoke from viruses for insurance coverage purposes, according to policyholder attorneys.
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February 06, 2025
SL Green, RXR To Appeal NYC Office Renovation Funds Fight
A joint venture between SL Green Realty Corp. and RXR Realty plans to appeal a New York state court finding that an affiliate of the mostly defunct New York REIT can do what it wants with a $90.7 million pot set aside for major renovations of the jointly owned Worldwide Plaza.
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February 06, 2025
Pot Co. Jushi Can't End Rival Shop's Antitrust Claims
Cannabis distributor Jushi Holdings could plausibly be shown to have taken advantage of a Massachusetts town's retail marijuana permitting process and conspired with the sellers of a shop it purchased in 2021 to block a competitor from opening nearby, a Massachusetts federal judge ruled.
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February 06, 2025
Nixon Peabody Adds Greenberg Glusker Cannabis Co-Chair
Nixon Peabody LLP is boosting its West Coast litigation team, bringing in a former federal prosecutor, who was most recently the founder and co-chair of the cannabis practice at Greenberg Glusker LLP, as a partner in its Los Angeles office.
Expert Analysis
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Calif. Ruling Offers Hope For Mitigated Negative Declarations
In Upland Community First v. City of Upland, a California appeals court upheld a warehouse development's mitigated negative declaration over its greenhouse gas emissions thresholds — a rare victory against this type of challenge providing reassurance that such declarations can be upheld, say attorneys at Sheppard Mullin.
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There's No Crying In Property Valuation Baseball Arbitration
The World Series is the perfect time to consider how the form of arbitration used for settling MLB salary disputes — in which each side offers competing valuations to an arbitrator, who must select one — is often ideal for resolving property valuation disputes, say Sean O’Donnell at Herrick Feinstein and Mark Dunec at FTI Consulting.
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Webuild Ruling Complicates Arb. Award Enforcement In US
A Delaware federal court's recent decision in Sociedad Concesionaria Metropolitana de Salud v. Webuild, if read literally, could undercut the United States' image as a proarbitration jurisdiction by complicating creditors' efforts to enforce awards against property in this country, says Jeff Newton at Omni Bridgeway.
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How To Avoid A Costly CPA Limitation Hidden In Most Leases
The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.
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Navigating FEMA Grant Program For Slope Fixes After Storms
In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.
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Smith's New Trump Indictment Is Case Study In Superseding
Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.
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Consider Best Legal Practices For Commissioning Public Art
Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.