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Real Estate

  • May 17, 2019

    Revised Opportunity Zones Offer Tribes New Tool To Spur Biz

    The federal government's recently proposed regulations on opportunity zones provide much-needed guidance to help Native American tribes find ways to use the program to attract investment, but tribes' success will likely depend on how well they can parlay the zones with other sources of federal funding.

  • May 17, 2019

    Texas High Court Allows Taking Of Developer's Land For Road

    A divided Texas Supreme Court said on Friday the City of Rowlett, Texas, had the authority to condemn land owned by a private developer even though the move helped a rival developer and a private business, deciding that there was a valid public use driving the decision.

  • May 17, 2019

    Ute Tribe Seeks OK Of Tribal Water Theft Ruling

    The Ute Indian Tribe has urged a Utah federal judge to recognize and enforce a nearly $150,000 tribal court judgment stemming from the alleged theft of tribal water, saying the U.S. court should respect the tribal body's decision. 

  • May 17, 2019

    Wynn In Talks With MGM To Sell $2.6B Mass. Casino Resort

    Wynn Resorts is considering cashing out of its roughly $2.6 billion Encore Boston Harbor casino that is still under construction, noting in a joint statement with MGM International that the two resort casino operators are in the early stages of negotiating a sale.

  • May 17, 2019

    Real Estate Rumors: Lennar, Xinyuan, IMC Equity

    Homebuilder Lennar is reportedly under contract to buy an 89-acre site in Florida, developer Xinyuan is said to have landed $30 million in financing for a Queens mixed-use project, and IMC Equity has reportedly purchased a Miami development site for $13.5 million.

  • May 17, 2019

    Indian Hotels, GIC Form $600M Hotel Acquisition Platform

    Indian Hotels has signed an agreement with Singapore sovereign wealth fund GIC for the two to invest a combined $600 million in new hotels in India over the coming three years, according to a regulatory filing Friday from the India hotel operator.

  • May 17, 2019

    Fla. High Court Won't Review Beckham Stadium Sale Spat

    The Florida Supreme Court has blocked a Miami activist's bid to reverse the approval of a $9 million, no-bid sale of county-owned land to ex-soccer star David Beckham for the construction of a Major League Soccer stadium.

  • May 16, 2019

    Latin America's Woes Won't Spark Miami Real Estate Boom

    As the "Gateway to the Americas," Miami and its real estate market have often benefited when political or economic upheaval strikes Latin America, but the current crisis in Venezuela and uncertainty in neighboring countries may not unleash a wave of new investment, experts said Thursday at a real estate event in the city.

  • May 16, 2019

    Greenberg Traurig To Open Milan Office, Its 40th Worldwide

    Greenberg Traurig LLP said Thursday it will acquire a boutique law firm in Milan and open an office in the northern Italian city, marking its fifth location in Europe and its 40th in the world.

  • May 16, 2019

    Disbarred Atty Can't Beat Prison Term Over 'Confused' Judge

    The Third Circuit on Thursday nixed a disbarred attorney’s bid to toss his revised 41-month prison term for his role in bogus investment schemes, rejecting his claims that a New Jersey federal judge was “confused” about its prior rulings and “unprepared” to conduct the resentencing hearing.

  • May 16, 2019

    Frasers Centrepoint Drops $315M On Stake In Singapore Mall

    Frasers Centrepoint Trust has reached a deal to buy a one-third stake in a Singapore shopping mall from a subsidiary of Frasers Property Ltd. for SG$433.3 million ($315.4 million), according to an announcement from the Frasers Centrepoint Trust's manager on Thursday.

  • May 16, 2019

    Real Estate Rumors: Microsoft, Starwood, Uber

    Microsoft has reportedly leased 70,000 square feet in Manhattan, Starwood Capital has reportedly dropped about $100 million on an office building near Amazon's planned new campus in Virginia and Uber is said to be in talks to lease about 450,000 square feet at the Old Post Office in Chicago.

  • May 16, 2019

    Apartment Complex Can't Tap Full $32M Limit For Fire Damage

    The Eighth Circuit on Thursday affirmed that a 32-building Missouri apartment complex cannot tap into the full $31.8 million limit of its American Family Mutual Insurance Co. property policy to cover costs from a fire that destroyed one building and damaged two others, saying the total limit is available only if the entire complex is razed.

  • May 16, 2019

    Brad Pitt Charity Suit Belongs In State Court, La. Judge Says

    A Louisiana federal judge has ruled that a lawsuit alleging Brad Pitt’s Make It Right Foundation built shoddy homes in New Orleans after Hurricane Katrina should be heard in state court, finding the case’s local nature requires the dispute to be handled there.

  • May 16, 2019

    Pyrinas-Aeneas JV Eyes $120M Biotech Real Estate Fund

    A joint venture of Pyrinas Real Estate and Aeneas Capital is seeking up to $120 million for a new fund that will invest in health care and life sciences properties in a handful of North American cities, Hong Kong-based Pyrinas said Thursday.

  • May 15, 2019

    6th Circ. OKs Mining Permit Over Joint Landowner's Objection

    The Sixth Circuit on Wednesday affirmed the validity of a coal mining permit issued to a joint owner of a Pike County, Kentucky, site even though the other owner objected to the mining, deciding that Kentucky law dictated the result and allowed for the permit.

  • May 15, 2019

    Real Estate Rumors: Westbrook, Silverstein, Piedmont

    The Ritz-Carlton New York, Central Park could fetch $600 million in a sale, Silverstein Properties may build 2 World Trade Center on spec, and Piedmont Office Realty Trust could get $490 million for a Chicago office tower.

  • May 15, 2019

    Pa. Justice Slams Philly For Ignoring Land In Squatter Fight

    A member of Pennsylvania's highest court slammed the city of Philadelphia during oral arguments on Wednesday for trying to stake a continued claim on a parcel of land it owns at the center of a squatter's-rights dispute despite its decades of not maintaining the lot.

  • May 15, 2019

    Real Estate Lawyers On The Move

    Goodwin, Barnes & Thornburg, Nixon Peabody, DLA Piper, Cozen O'Connor and Jackson Lewis were among various law firms that made real estate or construction hires over the past month.

  • May 15, 2019

    WeWork Parent Unveils $2.9B Real Estate Investment Platform

    The We Co. outlined plans Wednesday to launch a global real estate acquisition and management platform with $2.9 billion in capital, as it looks to grow the footprint of flexible workspace provider WeWork.

Expert Analysis

  • Treasury's New Rules Streamline Opportunity Zone Program

    Excerpt from Lexis Practice Advisor
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    The U.S. Department of the Treasury's second set of proposed regulations on the opportunity zone program make participation easier overall and open the door for operating businesses in OZs, though not all the new provisions are welcome, says Jessica Millett of Duval & Stachenfeld.

  • Q&A

    A Chat With Gilead Sciences Legal Ops Leader Gary Tully

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    In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • Understanding The Nuts And Bolts Of Bridge Lending

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    Bridge lending, a hybrid form of financing that is generally safer than construction loans but offers higher yields than permanent loans, is growing in popularity. But commercial real estate lenders should consider several key factors before entering the field, says Kamao Shaw of Bryan Cave.

  • Don't Let License Rules Snuff Out Your Fire Expert

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    Lawsuits involving property damage due to fire often require the retention of an expert to investigate the fire, but testimony can be excluded if the expert lacks the required licenses. Attorneys at Tucker Ellis break down the different licensing requirements for fire scene inspection in all 50 states.

  • Recent IRS Guidance Puts Multifamily Housing Back On Track

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    April guidance from the Internal Revenue Service, saying rental projects may set aside units for specified groups such as military veterans without violating the general public use requirement for tax-exempt bond financing, addresses a disconnect in the rules that has stopped many projects cold, says Alexis Baker of Squire Patton Boggs.

  • Series

    Judging A Book: Wood Reviews 'The Making Of A Justice'

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    Retired U.S. Supreme Court Justice John Paul Stevens' new book, "The Making of a Justice," is required reading for anyone interested in 20th and 21st century America, says Seventh Circuit Chief Judge Diane Wood.

  • Getting Out Of Legal Project Management Debt

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    If a client does not demand the application of project management techniques at the start of a matter, or a law firm does not routinely apply them, it is highly likely that additional, avoidable work — legal project management debt — will materialize throughout the matter, says Anthony Widdop of Shearman & Sterling.

  • Opinion

    The Law Will Not Help Airbnb Evade Rental Ordinances

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    In denying Airbnb's legal challenge to a short-term rental ordinance set by Santa Monica, California, the Ninth Circuit has exposed gaping holes in Airbnb's attempts to overturn such regulations by manipulating federal law, says Andrew Zacks of Zacks Freedman.

  • Fla. Assignment Of Benefits Law Is Good News For Insurers

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    Last month, the Florida Senate passed legislation that will reform the litigious practice of assignment of benefits in first-party property insurance claims. Significantly, the bill's restriction of attorney fees will likely encourage assignees to make more reasonable presuit demands, says Mac Griffin of Holland & Knight.