Real Estate

  • June 29, 2022

    Rising Star: Kirkland & Ellis' Kimberly McGrath

    Kimberly McGrath of Kirkland & Ellis has advised on multibillion-dollar deals, including private equity firms' purchase of data center real estate investment trust CyrusOne Inc. for about $15 billion, earning her a spot among real estate attorneys under age 40 honored as Law360 Rising Stars.

  • June 29, 2022

    Switch Omitted Financial Info On $11B Merger, Investors Say

    A pair of stockholders claimed in separate lawsuits that data center operator Switch Inc. didn't disclose key financial information about a proposed $11 billion go-private deal with investment firms DigitalBridge and IFM Investors.

  • June 28, 2022

    SL Green Wants Assets Pinned Down In $185M Award Fight

    An affiliate of New York commercial office space giant SL Green Realty Corp. on Tuesday filed an urgent motion asking a federal court in New York to freeze assets belonging to HNA Group as it looks to enforce a $185.4 million arbitral award against the failing Chinese conglomerate.

  • June 28, 2022

    Real Estate Co. Can't Get $12M Virus Coverage Under Policy

    A Connecticut state court judge axed a real estate investment firm's bid to recoup more than $12 million in pandemic-related losses from its insurer, finding that the claim falls clearly within a carveout for damages related to contamination.

  • June 28, 2022

    Real Estate Rumors: Jepeway, CannonDesign, Lalezarian

    The estate of the late civil rights lawyer Louis Jepeway Jr. has reportedly sold a South Florida retail building for $18.5 million, CannonDesign is said to be leasing 17,000 square feet in New York and Lalezarian Properties has reportedly landed $150 million in financing for a South Florida apartment tower project.

  • June 28, 2022

    Frustrated Court Says Lender Must Face Ponzi Scheme Suit

    A Texas federal judge has declined to toss a Ponzi scheme fraud suit brought against a lending company and the CEO of a real estate development company, noting that court has spent many resources on dismissal motions in the case thus far and that the defendants should not file any more dismissal motions.

  • June 28, 2022

    Clean Energy Co. Intersect Gets $750M Boost From 3 Firms

    Three private investment firms are infusing Intersect Power with $750 million to help accelerate the expansion of its clean energy platform, according to a statement Tuesday.

  • June 28, 2022

    Atlanta Hotel Asks 11th Circ. To Revive Mold Damage Claim

    The owner of an Atlanta Hilton hotel asked the Eleventh Circuit to revive its $20 million water and mold damage suit against Affiliated FM Insurance Co., arguing a Georgia federal court did not consider the actual language of the hotel's "all-risk" insurance policy when it tossed the case.

  • June 28, 2022

    Liberty Unit Seeks To Ax Wash. Landlord's Coverage Suit

    A Liberty Mutual subsidiary asked a Washington federal court to toss a landlord's bid for coverage of biohazard damage and unauthorized renovations caused by a former tenant, saying its initial denials of coverage were correct and reasonable.

  • June 28, 2022

    Ga. Judge Won't Rethink Pond Pollution Coverage Ruling

    A Georgia federal judge doubled down Tuesday on his ruling that a subdivision developer's insurance policy doesn't cover its alleged pollution of a nearby pond, rejecting its bid to amend or alter a final judgment in favor of the insurer.

  • June 28, 2022

    Rising Star: Greenberg Traurig's Michael H. Davis

    Greenberg Traurig LLP's Michael H. Davis advised Mosaic Real Estate Investors in its $460 million loan to develop the Ritz-Carlton Portland and guided Canyon Real Estate Partners through $400 million in deals, earning a spot among the real estate practitioners honored as Law360 Rising Stars.

  • June 28, 2022

    Paul Hastings Leads $2.4B Blackstone, Sixth Street Sale

    Paul Hastings LLP said Tuesday it represented investment firms Blackstone Tactical Opportunities and Sixth Street Partners on the finance and mortgage aspects of their €2.3 billion ($2.42 billion) sale of residential mortgage lender Kensington Mortgage Co. and a portfolio of U.K. mortgage loans to Barclays Bank UK PLC.

  • June 28, 2022

    Apt. Insurer Says It Has No Duty To Defend In Fatal Shooting

    An insurer asked a Georgia federal court to find that it has no duty to defend or indemnify the owner of an apartment complex over a wrongful death suit after a man was shot and killed on the property last year, saying the policy's firearms exclusion bars coverage.

  • June 27, 2022

    Regal Ordered To Pay Rent Despite COVID Theater Closures

    A Delaware state judge on Monday ruled that Regal Entertainment Group must pay $5.5 million in unpaid rent and other charges stemming from leases with Simon Property Group, finding that the pandemic doesn't excuse Regal from its rent payment obligations under the leases.

  • June 27, 2022

    HUD To Label 'Troubled' Projects In New Checkup Rule

    The U.S. Department of Housing and Urban Development aims to better assess problems with Section 8 housing projects and check up on owners more frequently under changes in a newly published final rule.

  • June 27, 2022

    LA Developer Convicted In City Council Bribery Scheme

    A California federal jury convicted a Los Angeles real estate developer Monday of giving $500,000 in bribes to former city councilor Jose Huizar in exchange for getting a nonprofit's challenge to the development project dropped.

  • June 27, 2022

    Justices Won't Hear Petition Over Alaska Native Land Dispute

    The U.S. Supreme Court declined Monday to take up a case in which an Alaska Native father and son claim the federal government, with the consent of a local tribal corporation, lopped off three acres of their land as they sought to obtain formal title under a landmark 1971 law.

  • June 27, 2022

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court drew a step closer last week to filling an empty seat on the bench, a debt maven fought for control of a cosmetics company, and new cases came in involving cryptocurrency, building products, business software, and of course, private equity. Here's your weekly roundup of news from Delaware's Chancery Court.

  • June 27, 2022

    Appeals Court Says Attys Had Enforceable Lien To Get Fees

    A Georgia law firm and two of its attorneys have a valid lien on bank accounts seized from two former clients in a criminal case over the alleged sale of synthetic THC at a rural convenience store, the Georgia Court of Appeals ruled Thursday.

  • June 27, 2022

    Tenants Want Final OK Of $4.6M Eviction Fee Deal In NC

    A class of North Carolina renters suing a property management company for allegedly charging illegal eviction fees has asked a federal judge for final approval of a $4.6 million settlement, including $1.5 million in attorney fees.

  • June 27, 2022

    Calif. Ruling Steadies Fraught EB-5 Landscape For Now

    A California federal judge has ordered the federal government to allow previously licensed EB-5 regional centers to continue operating while one of the immigrant investment centers challenges an agency mandate to seek reauthorization after March legislation revamped the program.

  • June 27, 2022

    Liberty Mutual Unit Must Face Condo's Irma Damage Claim

    A Florida federal judge ruled that a condominium association sufficiently pled its breach of contract claims against a Liberty Mutual subsidiary in a suit alleging that the insurer refused to cover Hurricane Irma damage to a dozen units, but tossed the policyholder's declaratory judgment claim as duplicative.

  • June 27, 2022

    Investor Must Arbitrate Case Over $36M Hurricane Irma Award

    A Florida federal judge on Monday denied a real estate investment company's request to hear its case against insurance underwriters at Lloyd's and its affiliates, ruling that due to an agreement already in place, the parties must arbitrate the dispute over a delayed $36 million award for Hurricane Irma-related damage.

  • June 27, 2022

    Real Estate Rumors: Knighthead, CIM, AcadeMir Charter

    Knighthead has reportedly loaned $13.5 million for a South Florida mixed-use development site, CIM is said to be hoping to build residential and retail space in Los Angeles and AcadeMir Charter Schools has reportedly paid $20.8 million for a South Florida charter school.

  • June 27, 2022

    Marriott Project Backers Win NJ Appeal Over Failed Land Deal

    A New Jersey state appeals court on Monday said a trial judge was right to order a hospitality business and its owner to reimburse two investors a combined $350,000 because the company failed to purchase land for the development of a Marriott hotel.

Expert Analysis

  • NY Contractor Relief Bill Is Much-Needed, But Imperfect

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    Once signed by the governor, New York's S.B. 10109 will correctly provide relief to construction contractors negatively affected by drastic material price escalations, though it is held back by an arbitrary time restriction, say attorneys at Cohen Seglias.

  • Texas Infrastructure Act And Renewables Projects: 1 Year In

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    A year into implementation of Texas' Lone Star Infrastructure Protection Act, Jennifer Pier at Husch Blackwell discusses how renewable energy project developers, owners and investors planning projects in Texas can incorporate LIPA-related provisions into transaction and financing documents.

  • NYC Office Tower Ch. 11 Shines Light On Blocking Provisions

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    PMW Management's Chapter 11 filing, which recently received extra time to submit a restructuring plan, highlights courts' increasing skepticism of bankruptcy blocking provisions and favoritism toward leaving bankruptcy restructuring plans in the hands of the debtor, say Jeff Marwil and Ashley Weringa at Proskauer.

  • Storm Clouds Loom Ahead For Real Estate Investors

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    With a wave of negative economic indicators mounting on the horizon, real estate investors facing financial distress should proactively take steps to mitigate the risk of bankruptcy, says William Lobel at Distressed Capital Resources.

  • Advising A Cannabis Business Amid Patchwork Of Regs

    Excerpt from Practical Guidance
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    As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real estate, intellectual property and banking applicable in the jurisdictions where their clients operate, say Patrick Hines and Fallon Martin at Hodgson Russ.

  • How To Avoid Construction Lien Traps In Bankruptcy Filings

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    The Ninth Circuit Bankruptcy Appellate Panel’s decision in 450 S. Western Ave. serves as a cautionary tale on the risks of a contractor agreeing not to foreclose a lien in exchange for the owner agreeing not to challenge the validity of the lien in bankruptcy filings, and highlights how contractors can protect their liens, says Blake Robinson at Davis Wright.

  • Opinion

    Now's The Time To Address Archaic Law School Curricula

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    With law school enrollments jumping significantly ahead of a potential recession and more students graduating than the market can absorb, law schools should turn to creative solutions to teach students how to negotiate, work with clients, specialize and use technology to practice their craft more efficiently, says University of Colorado adjunct professor Jason Mendelson.

  • Sears Bankruptcy Case Shows Modification Disclosure Is Key

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    The recent New York federal court decision in Transform Holdco v. Sears Holdings highlights the importance of seeking approval of any material modifications to a purchase agreement in a bankruptcy, as historical setting can be a factor if any dispute arises later between a debtor and a buyer, say Frank Grese and Reginald Sainvil at Baker McKenzie.

  • Lessons From Lawyer Fee-Sharing Agreements Gone Wrong

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    The recent fee-sharing dispute between Edelson and Girardi Keese is a reminder that lawyers who do not strictly follow the applicable rules may risk a disciplinary complaint, lose their share of the fee, or wind up in costly litigation with co-counsel, says David Grossbaum at Hinshaw.

  • LeClairRyan Bankruptcy Highlights Pass-Through Tax Issue

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    A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery McCracken.

  • 9th Circ. Ruling Offers Guidance On Automatic Stay Violations

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    The Ninth Circuit Bankruptcy Appellate Panel’s opinion in Censo v. Newrez clarifies the nebulous standard for automatic stay violations, and provides useful guidance for practitioners to consider in determining whether a creditor's defensive action taken in pending litigation counts as a violation, say Keith Owens and Zach Williams at Fox Rothschild.

  • 8 Steps To Creating A Legal Ops Technology Road Map

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    Legal departments struggling to find and implement the right technologies for their operations should consider creating a road map that summarizes their approach to technology changes, provides clearly defined metrics for success, and serves as the single source of truth for stakeholders, says Melanie Shafer at SimpleLegal.

  • The Importance Of Data And Data Analysis In Litigation

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    Understanding, analyzing and effectively presenting large data sets is an increasingly important skill in litigation as it allows plaintiffs to dramatically scale up the scope of cases and is often critical to defeating motions to dismiss and motions for summary judgment, says David Burnett at Motley Rice.

  • Performance Bonds May Not Cover All Contract Obligations

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    Supply chain constraints and higher material prices in the construction industry are leading many project owners to require payment and performance bonds from contractors, but owners should keep in mind certain legal and practical considerations that may allow sureties to escape liability, says Daniel Miktus at Akerman.

  • Untangling A Web Of State Regulations For Cannabis Lounges

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    Though a number of states have legalized adult-use marijuana, progress toward widespread licensing of cannabis consumption lounges has been slow due to high operational costs and regulatory complexities that vary greatly from state to state, say Meital Manzuri and Alexis Lazzeri at Manzuri Law.

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