Commercial
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June 30, 2025
JLL Wraps Up $252M Industrial Portfolio Financing Deal
JLL Capital Markets lined up a five-year, floating rate $252.5 million financing loan for a "light industrial, mission critical" portfolio that has 21 properties that take up 3.64 million square feet in total, JLL announced Monday.
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June 30, 2025
Hyatt Selling Playa Real Estate Portfolio For $2B
Hyatt Hotels Corp. said Monday it has agreed to sell the real estate portfolio owned by Playa for $2 billion to Tortuga Resorts — a joint venture between an affiliate of private equity firm KSL Capital Partners and resort and hospitality company Rodina.
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June 30, 2025
McCarter & English Says Developer Estate Suit Is A Duplicate
McCarter & English LLP and the estate of a deceased attorney should not have to face a new lawsuit over the alleged mismanagement of a Connecticut retail developer's trust because it seeks to "derail" a pending case that is already teed up for trial, the defendants told a state court.
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June 30, 2025
Florida To Eliminate Business Rent Tax
Florida will eliminate its business rent tax under budget-related legislation signed Monday by Republican Gov. Ron DeSantis.
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June 30, 2025
Judge Might Toss Calif. Hotel Ch. 11 After $55M Sale Implodes
A Delaware bankruptcy judge told a California hotel owner and operator Monday he was prepared to dismiss or convert its Chapter 11 case after learning that a proposed $55 million sale to a third party fell apart over the weekend.
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June 30, 2025
Lender Files To Foreclose On $99M, Class A NYC Office Loan
A Class A midtown Manhattan tower in default on a $99 million mortgage is facing a foreclosure lawsuit in New York state court.
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June 30, 2025
RI Allows Local Tax Amnesty Programs For Every 3 Years
Rhode Island authorized municipalities to establish local tax amnesty programs every three years to give people and businesses a chance to resolve outstanding property tax liabilities without accruing interest under legislation signed by the governor.
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June 30, 2025
Seyfarth Lands 22 Transactional Attys From Morris Manning
Seyfarth Shaw LLP announced Monday that it has added a 22-lawyer transactional team from Morris Manning & Martin LLP, including 11 partners in the real estate, corporate and employee benefits groups, while the latter firm indicated it's in talks to expand its ranks.
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June 30, 2025
Justices Won't Review Taxing Of Power Plant On Tribal Land
The U.S. Supreme Court declined on Monday to hear a power company's claims that federal law protects a power plant it owns on tribal land in Arizona from property taxes.
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June 27, 2025
2 Firms Guide $512M Miami Mixed-Use Property Buy
Real estate investment trust Simon Property Group Inc. reportedly paid $512 million to acquire developer Swire Properties Inc.'s Brickell City Centre, a 5 million-square-foot, mixed-use Miami property with dining, retail and office areas, in a deal guided by Bilzin Sumberg Baena Price & Axelrod LLP and Greenberg Traurig LLP.
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June 27, 2025
Groups Sue To Protect Everglades From 'Alligator Alcatraz'
Environmental groups sued Homeland Security Secretary Kristi Noem and Florida officials Friday in Miami federal court in a bid to halt the construction of a migrant detention center known as "Alligator Alcatraz" in the Everglades, alleging it wasn't properly vetted for how it will impact the protected wetlands.
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June 27, 2025
RE Developer Cops Plea, Settles SEC's $3M Fraud Suit
A New Hampshire-based real estate developer has agreed to plead guilty and settle parallel U.S. Securities and Exchange Commission claims that she defrauded investors out of more than $3 million through a series of real estate investment projects between 2018 and 2024.
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June 27, 2025
Nelson Mullins Looks To Beat The Opportunity Zone Curve
As Congress debates President Donald Trump's budget bill, which would extend the opportunity zone program started in his Tax Cuts and Jobs Act of 2017, Nelson Mullins has ramped up the firm's practice in anticipation of a steady flow of investment work there, one of the group's leaders told Law360 Real Estate Authority.
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June 27, 2025
4 Firms Guide Blackstone's $2B CRE Loans Deal
Blackstone and Atlantic Union Bank's holding company have closed Blackstone's acquisition of $2 billion worth of performing commercial real estate loans from the holding company in a deal guided by Hunton Andrews Kurth LLP, Gibson Dunn & Crutcher LLP, Ropes & Gray LLP and Benesch Friedlander Coplan & Aronoff LLP, the companies jointly announced.
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June 27, 2025
Tariffs Disrupt Steadying Real Estate Industry Outlook
Commercial real estate leaders' outlook appeared to moderate following years of extremes, according to the results of a DLA Piper survey, though their outlook soured slightly in a follow-up survey conducted after the Trump administration announced reciprocal tariffs in April.
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June 26, 2025
Ga. Appeals Court Reverses Sanctions In Sinkhole Fight
The Georgia Court of Appeals has reversed a trial court's decision to strike the complaint of a property owner over discovery violations in a fight over a sinkhole, ruling that Peachtree Renaissance Property LLC was not given a fair hearing before the sanctions were handed down.
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June 26, 2025
Silverstein Adds Plans For 2K Apartments In NYC Casino Bid
Developer Silverstein Properties on Thursday added plans to develop more than 2,000 apartments to its bid to win the rights to develop a Manhattan casino, ahead of a New York City application deadline Friday.
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June 26, 2025
Calif. Judge Rejects CoStar, CREXi's Early Win Bids In IP Row
A California federal judge has rejected cross partial summary judgment bids made by property listing rivals CoStar Group Inc. and Commercial Real Estate Exchange Inc. in CoStar's copyright infringement suit against CREXi, which is accused of stealing nearly 50,000 CoStar commercial real estate images.
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June 26, 2025
NC Biz Court Stalls Foreclosure Sale On Development Project
One hour before a foreclosure sale was set to take place, a North Carolina judge stepped in to block the auction after a property owner accused its partners on a 55-acre development of abusing lending, lien and foreclosure laws in a scheme against the owner.
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June 26, 2025
Maine To Hike Sales Tax On Cannabis, Add Streaming To Base
Maine will raise its sales tax rate on adult-use cannabis and lower its excise tax rate on cannabis flower and add streaming services such as Netflix and Hulu to the sales tax base under budget legislation signed by the governor.
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June 26, 2025
Phillips Lytle Relocates Rochester Office To Technology Hub
Phillips Lytle LLP has relocated its Rochester, New York, office to Innovation Square, a hub for technology, education and entrepreneurship, the firm announced.
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June 25, 2025
Wash. City Hits Ch. 9 After Arbitration Loss With Developer
Cle Elum, a city in central Washington at the foothills of the Cascade Mountains, filed for Chapter 9 municipal bankruptcy on Tuesday facing garnishment from a real estate developer to whom it owes $26 million.
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June 25, 2025
Publicis Hits Landlord With $3M Buildout Reimbursement Suit
A subsidiary of global public relations firm Publicis Groupe sued Market Holdings Co. LLC in Washington federal court for more than $3 million, alleging that the commercial landlord must reimburse it for a multimillion-dollar buildout project in a Seattle office property that Market Holdings leased to the company.
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June 25, 2025
RI Allows Providence To Exceed Tax Levy Cap For Fiscal 2026
Providence, Rhode Island, may exceed the state's limit on property tax increases for the 2026 fiscal year under legislation signed by the governor.
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June 25, 2025
US House OKs Bill Beefing Up Foreign Land Buy Oversight
The U.S. House of Representatives has advanced a bill to give federal officials more oversight on agricultural land purchases by foreign government adversaries such as China, Iran and Russia.
Expert Analysis
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How 2025 Is Shaping The Future Of Bank Mergers So Far
Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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Dewberry Ruling Is A Wakeup Call For Trademark Owners
The U.S. Supreme Court's decision in Dewberry v. Dewberry hones in on the question of how a defendant's affiliates' profits should be treated under the Lanham Act, and should remind trademark litigants and practitioners that issues involving monetary relief should be treated seriously, say attorneys at Finnegan.
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How GSA Lease Clauses May Affect DOGE Terminations
The Department of Government Efficiency has begun to cut the U.S. General Services Administration's enormous real estate portfolio, but some standard lease clauses include limits helpful to landlords that may slow progress toward the administration's cost-cutting goals, say attorneys at Pillsbury.
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What SDNY Judge Can And Can't Do In Adams Case
The federal judge in the Southern District of New York overseeing the criminal case against New York City Mayor Eric Adams deferred making a decision on the government's motion to dismiss the indictment, and while he does have limited authority to deny the motion, that would ultimately be a futile gesture, says Ethan Greenberg at Anderson Kill.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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Nippon Order Tests Gov't Control Over Foreign Investments
The U.S. government is primarily interested in restraining foreign transactions involving countries of concern, but former President Joe Biden’s January order blocking the merger of Nippon Steel and U.S. Steel shows that all foreign direct investments are under the federal government’s microscope, say attorneys at Blank Rome.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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As EPA Backs Down, Expect Enviros To Step Up Citizen Suits
As President Donald Trump's U.S. Environmental Protection Agency draws down federal enforcement efforts, environmental groups will step into the void and file citizen suits — so companies should focus on compliance efforts, stay savvy about emerging analytical and monitoring methods, and maintain good relations with neighbors, say attorneys at Beveridge & Diamond.
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Emphasize Social Spaces During RE Project Public Review
As Boston continues to work through revisions to its public review process for real estate projects, developers attempting to balance impact mitigation and community improvements may benefit from emphasizing the ways in which development plans can facilitate open social exchange, says David Linhart at Goulston & Storrs.
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What Contractors Can Do To Address Material Cost Increases
In light of the Trump administration's plans to increase tariffs on Mexico, Canada and China, construction industry players should proactively employ legal strategies to mitigate the impacts that price increases and uncertainty may have on projects, says Brenda Radmacher at Seyfarth Shaw.
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Reg Waiver Eases Calif. Rebuilding, But Proceed With Care
California Gov. Gavin Newsom's executive order suspending some environmental review and permitting requirements for the reconstruction of homes and businesses damaged by recent wildfires may streamline rebuilding efforts, but will require careful navigation of the evolving regulatory landscape, says Gregory Berlin at Alston & Bird.