Real Estate

  • June 01, 2020

    NY Lawmakers OK Property Tax Deferral Bill Amid COVID-19

    Local taxing jurisdictions in New York could defer scheduled payments or installment payments for property taxes because of the COVID-19 state of emergency, under a bill passed by the state Legislature. 

  • June 01, 2020

    Real Estate Rumors: Investors Bank, Investcorp, Omninet

    Investors Bank is reportedly seeking to sell its $48 million loan backed by a Brooklyn building, an Investcorp venture may give a Florida mall back to its lenders, and Omninet Capital has reportedly paid a combined $78 million for two Los Angeles County office complexes.

  • June 01, 2020

    Greenberg Traurig Guides $49M Goldman NYC Hotel Loan

    Goldman Sachs has loaned $48.98 million to a Fortuna Realty Group LLC entity for a new hotel in Midtown Manhattan, and Greenberg Traurig LLP worked on the deal, according to records made public in New York on Monday.

  • June 01, 2020

    Texas Panel Says Contract Talks Aren't Protected Free Speech

    Investment company United Development Funding LP can't escape a Texas developer's $10 million business interference lawsuit under a state free speech protection law because communications about the developer's contracts don't address a public concern, a Texas appellate panel ruled.

  • June 01, 2020

    Texas Can't Reverse $28.8M Jury Verdict Over Highway Project

    The state of Texas lost a bid to undo a $28.8 million jury award in a lawsuit brought against it by a developer who said the Grand Parkway toll road project and the related condemnation of 40 acres tanked the value of the site for a proposed residential development.

  • June 01, 2020

    Royal Bank Of Canada Settles Claim It Exploited Virus Crisis

    A real estate investment trust in New York has agreed to drop its lawsuit accusing the Royal Bank of Canada of using the COVID-19 pandemic as an opportunity to illegally seize and sell off the trust's assets at fire-sale prices.

  • June 01, 2020

    Coronavirus Q&A: Goulston Real Estate Leaders

    In this edition of Coronavirus Q&A, two of Goulston & Storrs' real estate leaders discuss the challenges of reopening in Boston and beyond, and note that trouble could be looming later this year for the multifamily sector.

  • June 01, 2020

    Equinix Buys Bell Data Center Portfolio In Canada For $765M

    Equinix has reached a deal to buy 25 data centers in Canada from Bell's parent company for CA$1.04 billion ($765 million), according to separate announcements from Equinix and Bell on Monday.

  • June 01, 2020

    Fox Rothschild Adds Real Estate Pair From Schnader Harrison

    Fox Rothschild LLP added a pair of retail real estate partners from Schnader Harrison Segal & Lewis LLP whose work includes helping represent large chain retailers such as Dollar Tree as it opens new locations and for certain related commercial litigation.

  • June 01, 2020

    EPA Finalizes Restraints On State, Tribal Water Permit Power

    The U.S. Environmental Protection Agency on Monday hobbled the authority of states and tribes to block projects like pipelines, export terminals and dams over Clean Water Act concerns, saying the power had been abused to unfairly restrict commerce.

  • May 29, 2020

    National Assoc. Of Realtors Hit With More Antitrust Claims

    The National Association of Realtors was hit Thursday with another antitrust suit over a new rule that prohibits members from privately marketing properties without using the association's listing service, this time brought by a competitor claiming the measure is "overbroad and restrains competition unnecessarily."

  • May 29, 2020

    Bankruptcies Pile Up As COVID-19 Pandemic Squeezes Cash

    In the 2½ months since COVID-19 created a national emergency in the United States, dozens of companies have tilted into bankruptcy in the retail, travel and energy sectors, and a former bankruptcy judge predicts the turmoil will spread further through the economy in the coming months.

  • May 29, 2020

    U.S. Bank Fights Commerzbank's Redo Bid In RMBS Suit

    U.S. Bank NA shot back at Commerzbank's bid to reconsider a court order trimming the German bank's suit over U.S. Bank's stewardship of pre-crisis residential mortgage-backed securitization trusts, telling a New York federal court that its ruling resolved several issues and needs "no epilogue."

  • May 29, 2020

    Latham Facing DQ Bid From Ex-Clients In Ponzi Scheme Suit

    Two title and insurance companies being sued by investors over an alleged Ponzi scheme have asked a California state judge to disqualify Latham & Watkins LLP from representing the investors, saying Latham's defense of the companies in a previous Ponzi case gives the firm a conflict as it goes against the businesses now.

  • May 29, 2020

    Calif. $12.5B Biz Property Tax Hike Qualifies For Nov. Ballot

    A California initiative seeking to raise $12.5 billion annually by removing commercial and industrial properties from certain state constitutional tax protections qualified for the November general election Friday.

  • May 29, 2020

    Texas Justices To Consider Royalty Clause Dispute

    The Texas Supreme Court on Friday agreed to review an oil and gas developer's dispute with royalty owners over whether the company can charge them for post-production costs.

  • May 29, 2020

    Homeowners Ask 7th Circ. To Revive Toxic Dust Suit Again

    Wisconsin property owners say a district court has failed twice now to properly apply environmental protection laws after a 2015 facility demolition allegedly spewed up so much contaminated dust that they needed windshield wipers to drive.

  • May 29, 2020

    Lawmakers Say DOI's Trust Decision 'Infringed' On Congress

    The U.S. Department of the Interior exceeded its lawful powers when it revoked trust land from a Massachusetts tribe in March, a bipartisan group of members of Congress have written in an amicus brief filed in D.C. federal court.

  • May 29, 2020

    Coronavirus Q&A: Foley & Lardner's Health Practice Chair

    In this edition of Coronavirus Q&A, one of Foley & Lardner LLP's top health lawyers discusses how the pandemic's psychological trauma could reshape mental health care and what COVID-19's brutal toll on senior citizens means for nursing home operations and investments.

  • May 29, 2020

    Real Estate Rumors: CIM Group, IBM, Lone Pine Capital

    CIM Group is reportedly on the hunt for $396 million in financing for a New York City office property, IBM is said to be leaving its 70,000 square feet of space at a Manhattan WeWork property, and Lone Pine Capital has reportedly inked a deal to lease 8,102 square feet on Madison Avenue.

  • May 29, 2020

    Kirkland, Sidley Steer Starwood's $325M Lifeline To TPG Unit

    Starwood Capital has agreed to inject up to $325 million into a troubled TPG real estate finance unit, a deal guided by Sidley Austin LLP and Kirkland & Ellis LLP that's intended to help keep the unit afloat in the current market conditions.

  • May 29, 2020

    NJ Extends Deadline For Property Tax Appeals Amid COVID-19

    New Jersey Gov. Phil Murphy signed a bill extending to July 1 the deadline to file 2020 property tax assessment appeals, and extending deadlines for county tax boards to decide on such cases, as relief from the COVID-19 pandemic.

  • May 29, 2020

    3 Questions For Tenants And Owners As Subleasing Looms

    As office and retail tenants continue to have difficulty making rent amid the COVID-19 pandemic, many will look to sublease some or all of their space, and lawyers say the pandemic has ushered in a unique set of sublease questions.

  • May 29, 2020

    Borrowers Denied Cert. In Green Home Loans Suit

    A federal judge in California on Thursday denied a bid for class certification in a suit accusing a green home upgrades financing company of misrepresenting the terms of its loans, telling the borrowers they didn't show they had actually viewed various versions of the company's alleged misrepresentations.

  • May 29, 2020

    Judge Calls Brooklyn Housing Court Reopening A Challenge

    The Kings County Housing Court in downtown Brooklyn, New York, is so cramped, a New York City administrative judge said, that he wouldn't blame anyone for not wanting to enter the building anytime soon. 

Expert Analysis

  • How Lawyers Can Network Better, Virtually And In Person

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    The current decrease in formality and increase in common ground due to the work-from-home environment can make it easier to have a networking conversation, says Megan Burke Roudebush at Keepwith.

  • Texas Ruling Challenges Oil And Gas Anti-Washout Provisions

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    The Texas Supreme Court's recent opinion in Yowell v. Granite Operating Co. is the latest indication that the rule against perpetuities presents a unique challenge for overriding royalty interest owners who wish to utilize anti-washout provisions to carry an interest forward to new oil and gas leases, says Michael Reer at Harris Finley.

  • Practical Tips For Presenting Your Case To Litigation Funders

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    One mistake that attorneys commonly make when presenting a case to a third-party funder is focusing almost exclusively on liability and giving short shrift to the damages analysis — resulting in an aspirational damages estimate that falls apart under scrutiny, say Cindy Ahn and Justin Maleson at Longford Capital and Casey Grabenstein at Saul Ewing.

  • The Past Holds Lessons For COVID-19 Mortgage Cases

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    Reviewing the successes and shortcomings of the Home Affordable Modification Program implemented after the 2008 financial crisis can help the mortgage industry mitigate class action litigation risks related to COVID-19, say Brian Forbes and Robert Sparkes at K&L Gates.

  • Avoiding Inadvertent Privilege Waivers In E-Communications

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    Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.

  • 5 Tips For Drafting Effective Legal Billing Guidelines

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    To properly manage outside counsel, it's imperative for a company's legal department to implement and maintain rules on what they will and won't pay for, on staffing cases and requesting rate increases, and on how matters will be handled, says Chris Seezen at Quovant.

  • Opinion

    Don't Cancel Your Summer Associate Programs

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    While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.

  • Tech Will Play Key Role In Real Estate's Road To Recovery

    Excerpt from Lexis Practice Advisor
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    With unprecedented stress on real estate operations due to the COVID-19 crisis, this is a time to reflect on the property technology industry's success in recent years and to recognize how those models can be used to rebuild for the future, say attorneys at Goodwin.

  • Early Securities Litigation Trends Stemming From Recent IPOs

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    Attorneys at WilmerHale analyze Securities Act complaints against companies that went public immediately prior to and during the COVID-19-induced market volatility, providing preliminary insights into whether, when and on what basis recent issuers are facing securities litigation.

  • 5 Ways To Reduce Post-Pandemic Legal Malpractice Exposure

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    History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.

  • Steps Borrowers In Commercial Real Estate Must Take Now

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    Many lenders accommodated commercial real estate investors and borrowers with short, multimonth payment deferrals amid the COVID-19 crisis, but these grace periods will end well before the fallout of the pandemic will, and the bank will come knocking, says Katherine Amador at Berger Singerman.

  • NYC COVID-19 Lease Guarantee Law May Be Unconstitutional

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    A New York City law signed into law Tuesday cancels personal guarantees executed in conjunction with commercial leases when tenants default on rent due to COVID-19, setting up a potential clash between the city's police powers and the U.S. Constitution's contracts clause, says Massimo D'Angelo at Adam Leitman.

  • Opinion

    Credibility Concerns About Virtual Arbitration Are Unfounded

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    Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.

  • A Tax Primer For PE Investment In Distressed Real Estate Debt

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    Investors interested in discount purchases of distressed real estate debt in the wake of the pandemic must consider potential tax obligations, many of which may be triggered without concurrent receipt of cash proceeds to pay the tax, says Peter Elias at Pillsbury.

  • A Lawyer's Guide To Client Service Continuity Planning

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    Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.

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