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Real Estate

  • November 13, 2018

    NJ Firm Can Drop Recalcitrant Client In Insurance Fraud Suit

    A law firm was allowed to withdraw as counsel for a New Jersey homeowner Tuesday in an insurance fraud suit brought by mortgage lender Wilmington Savings Fund Society FSB, after a federal judge determined the defendant has not been responsive with her attorneys or paid her legal bills.

  • November 13, 2018

    Real Estate Rumors: Carlyle, Bloomberg, Charter Schools USA

    A Carlyle Group venture has reportedly sold a Florida apartment complex for $67.25 million, Bloomberg LP is said to have renewed a 468,000-square-foot lease for space in Manhattan and Charter Schools USA has reportedly bought one of its schools in Florida for $10.5 million.

  • November 13, 2018

    Committee Backs $1.2B LA Project, Including $100M Subsidies

    A proposed $1.2 billion development project in downtown Los Angeles, which may include close to $100 million in subsidies derived largely from tax revenue, received favorable recommendation Tuesday from the City Council's Economic Development Committee.

  • November 13, 2018

    Deals Rumor Mill: WeWork, Aramco, BMW

    WeWork nabbed $3 billion from SoftBank, Saudi Aramco still plans to go public, and BMW is talking to banks while it weighs selling off its credit card unit.

  • November 13, 2018

    Homeowners Seek Remand Of Suit Against Brad Pitt's Org

    Homeowners suing a foundation launched by Brad Pitt, which built homes in the aftermath of Hurricane Katrina, over allegedly defective construction urged a federal court Monday to remand the suit to state court because a vast majority of the proposed class members are Louisiana residents.

  • November 13, 2018

    NYC Real Estate Week In Review

    Greenberg Traurig LLP and DLA Piper were among more than a half-dozen law firms that helped out with the largest New York City deals for which deeds became public last week, a group that included a Manhattan office building sale worth more than $700 million.

  • November 13, 2018

    Wis. Village Says Oneida Reservation No Longer Exists

    A Wisconsin village said Monday the federal government is wrong to side with the Oneida Nation in its challenge to permitting requirements for an apple festival, telling a Wisconsin federal court that thanks to allotments of tribal land allowed under federal law the reservation has been diminished to the point of non-existence.

  • November 13, 2018

    LXi Buys 6 Properties With $81M From $230M Share Sale

    U.K.-based real estate investment trust LXi REIT PLC said Tuesday it has made six additional acquisitions at an aggregate price of £62.4 million ($80.8 million), marking the full deployment of the £175 million ($230.2 million) equity raise that was announced in early October.

  • November 13, 2018

    Amazon Unveils $5B Plan For NY, Va. Headquarters

    Amazon Inc. said on Tuesday that it has selected New York City and Arlington, Virginia, as the two locations for its new headquarters, laying out a plan that would see the e-commerce giant invest $5 billion and create more than 50,000 full-time jobs across the two locations.

  • November 13, 2018

    Airbnb Sues Boston Over 'Draconian' Short-Term Rental Regs

    Airbnb Inc. hit the city of Boston with a federal lawsuit Tuesday over its recently passed regulations on short-term rentals, saying the new rules run afoul of state and federal law and would require the online rental marketplace to dramatically alter its business model or else risk the city’s “draconian” sanctions.

  • November 9, 2018

    Wells Fargo To Pay $43M To Settle RMBS Trustee Litigation

    Wells Fargo Bank NA announced Friday it will pay $43 million to end allegations it failed to protect investors from billions of dollars in losses as the trustee for hundreds of residential mortgage-backed securities, a deal reached with certain institutional buyers, including funds affiliated with BlackRock Inc. and PIMCO.

  • November 9, 2018

    Fla. Developer With Kushner Ties Slams EB-5 Fraud Suit

    A real estate developer connected to White House adviser Jared Kushner has urged a Florida state court to scrap claims from a group of Chinese investors seeking EB-5 visas that he defrauded them of $99.5 million, arguing that the lawsuit is based on false allegations and is time-barred.

  • November 9, 2018

    Attys Get $33M In Fees From Investors' $100M CBRE Deal

    A Florida federal judge signed off Friday on a class of real estate investors' bid for $33.3 million in attorneys' fees and $1.7 million in costs in a $100 million settlement with CBRE over a multimillion-dollar embezzlement case, finding the case took a lot of time and included difficult questions.

  • November 9, 2018

    Real Estate Rumors: Breakers Capital, HNA, AutoNation

    A Breakers Capital Partners venture has reportedly dropped $21.4 million on a Florida office property, HNA Group is said to be under contract to sell a Manhattan office tower, and AutoNation has reportedly sold a Florida auto dealership for $11 million.

  • November 9, 2018

    Locke Lord Steers Capital One's $74M Loan For NYC Property

    Capital One NA has loaned $73.9 million to an entity connected to Ventas Inc. for a senior living property in Manhattan, a deal Locke Lord LLP worked on, according to records made public in New York on Friday.

  • November 9, 2018

    Timeshare Owners Hit Marriott With Sanctions Bid

    Timeshare owners have asked a Florida federal court to sanction Marriott Ownership Resorts Inc. in a proposed class action claiming the timeshare company and its insurer duped them into invalid real estate deals with Orange County's help, saying it intentionally withheld "massive amounts" of documents during discovery.

  • November 9, 2018

    Ill. AG Says Contaminated Water Dumped In Chicago River

    Illinois Attorney General Lisa Madigan has said she slapped four companies with a lawsuit in state court after workers on a 54-story skyscraper project allegedly dumped 6,400 gallons of contaminated water into the Chicago River in June.

  • November 9, 2018

    Real Estate Co. Must Pay $28.8M After Ripping Off Plans

    A Texas federal judge has ordered a real estate company to pay $28.8 million to an architectural design firm after a jury found that the property business violated the Digital Millennium Copyright Act 11,516 times by ripping off floor plan designs.

  • November 9, 2018

    Welltower-Hines JV Picks Up Manhattan Development Site

    A joint venture of health care real estate investment trust Welltower Inc. and Hines Interests LP has purchased a development property on Broadway in Manhattan and plans to build a senior living and memory care facility at the site, the companies announced on Friday.

  • November 9, 2018

    Atty Taken Off Ill. Rolls In '09 Still Practicing, Regulator Says

    An attorney who lost his authority to practice in Illinois in 2009 has continued to represent clients in real estate matters ever since, the state’s attorney conduct regulator has said.

Expert Analysis

  • It’s Time For Law Firms To Start Talking About Gen Z

    Eliza Stoker

    Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.

  • Mass. Court Ruling Reinforces 2 Keys To Pollution Coverage

    Alexander Bandza

    The Massachusetts federal district court's decision in Plainstow Project v. Ace Property & Casualty Insurance illustrates a recent pro-policyholder outcome as to the interplay of a policy's pollution exclusion and the viability of its “sudden and accidental” exception, say Alexander Bandza and Brian Scarbrough of Jenner & Block LLP.

  • Q&A

    Back To School: Yale's Linda Greenhouse Talks Journalism

    Linda Greenhouse

    In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.

  • Tax Delayed Is Tax Avoided: More Opportunity Zone Benefits

    Lewis Horowitz

    Although the opportunity zone program is designed to stimulate investment in low-income areas, in many cases, taxpayers can benefit from investments in neighborhoods — such as those in Washington and Oregon — that are growing despite this incentive, say Eric Kodesch and Lewis Horowitz of Lane Powell PC.

  • Opinion

    Celebrate Veterans By Improving Their Access To Justice

    Linda Klein

    Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.

  • REITs With International Operations Get Welcome IRS Ruling

    David Miller

    A revenue procedure released by the IRS in September provides important, albeit limited, relief to real estate investment trusts with international operations on certain unanswered questions, say David Miller and Christian Brause of Sidley Austin LLP.

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.

  • Avoiding Transfer Pricing Scrutiny On Loans To Blocker Corps

    Brad Wagner

    Blocker corporation financing transactions are being scrutinized by the IRS Large Business and International division as part of its transfer pricing campaign. The division is focusing on two specific issues in its transfer pricing audits, says Brad Wagner of Wagner Duys & Wood LLP.

  • Appraising Property Taken By Eminent Domain In Mass.

    John Bowen

    When the government seizes property by eminent domain, Massachusetts compensation rules are favorable to property owners, but appraisal will require consideration of many hypothetical factors, as well as all three time frames — the past, the present and the reasonably foreseeable future, says John Bowen of Rackemann Sawyer & Brewster PC.

  • Next Steps For Oil And Gas Owners If Colo. Passes Prop 112

    Brent Owen

    On Tuesday, Colorado voters will decide whether to enact a ballot initiative that significantly restricts oil and gas development. If Proposition 112 passes, owners of oil and gas mineral interests will likely seek redress for the loss of their valuable property rights, says Brent Owen of Squire Patton Boggs LLP.