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Real Estate

  • January 15, 2019

    Senate Tax Panel Head Open To Renewing Credits For 1 Year

    The chairman of the U.S. Senate Finance Committee told reporters Tuesday that he would be open to retroactively renewing expired tax credits that were included in legislation passed by the U.S. House of Representatives for a one-year period.

  • January 15, 2019

    CWA Shift Pushes Calif., States Toward Stricter Water Regs

    California is close to finalizing new protections for its wetlands in response to the Trump administration's proposal to redefine which waters are subject to federal Clean Water Act jurisdiction, leading the way for like-minded states that could use their considerable authority to counteract a new definition they see as inadequate.

  • January 15, 2019

    States, Tribes Back Swinomish In BNSF Appeal At 9th Circ.

    Three states and three tribes have urged the Ninth Circuit to uphold a lower court decision favoring the Swinomish Indian Tribal Community in its suit against BNSF Railway Co. over shipping crude oil across reservation land, saying federal law doesn’t preempt an easement pact and treaty rights are at stake.

  • January 15, 2019

    Real Estate Lawyers On The Move

    Clifford Chance US LLP, Carlton Fields Jorden Burt PA, Blank Rome LLP and Greenberg Traurig LLP were among various law firms that made real estate, construction or hospitality hires over the past month.

  • January 15, 2019

    Real Estate Rumors: Rilea, Pan Am Equities, LIT Industrial

    Rilea Group has reportedly bought part of a Florida shopping center for $10.37 million, Pan Am Equities is said to have purchased a New York apartment building for $90 million, and LIT Industrial reportedly picked up a Miami warehouse from Tropical Shipping for $32.6 million.

  • January 15, 2019

    Burford Gets Arbitration In Suit Over $50M Note's Sale

    An Arizona federal judge sent to arbitration a lawsuit accusing Burford Capital of undermining a former client when it sold a promissory note for well below its $50 million face value, ruling Monday that the parties had elected to have an arbitrator decide whether or not the dispute belonged in court.

  • January 15, 2019

    Timeshare Owners Seek Fees Over Marriott's Withheld Docs

    Attorneys for timeshare owners locked in a lawsuit against Marriott Vacations over an alleged drop in the value of their properties asked for more than $200,000 in fees and expenses Monday after a Colorado federal magistrate judge sanctioned Marriott for a delay in turning over critical documents.

  • January 15, 2019

    NY Title Insurance Kickback Rule Revived On Appeal

    A New York state appellate court ruled Tuesday that the state Department of Financial Services had the power to ban title insurance companies from wining and dining lawyers and others who could refer business to them, paring back a lower court's ruling that struck down the regulation.

  • January 15, 2019

    Medici Living, W5 Group Investing $300M In Co-Living

    Co-living brand Quarters' parent company, Medici Living Group, and private equity shop W5 Group have reached a deal to invest a combined $300 million over the next three years to develop 1,300 co-living units in the United States, the companies announced Tuesday.

  • January 15, 2019

    London Lawyer 1st Fined Over Panama Papers Revelations

    A partner at London law firm Child & Child on Tuesday became the first English lawyer to be punished as a result of revelations from the Panama Papers scandal after he was fined £85,000 ($109,000) by a U.K. disciplinary tribunal for failing to carry out money laundering checks.

  • January 14, 2019

    7th Circ. Questions Standing In Chicago Home-Share Reg Suit

    Too much "meaningful" time has passed since an advocacy group and several individuals launched their challenge to Chicago's short-term rental regulations for the plaintiffs to clearly prove they still have standing to pursue their case, the Seventh Circuit held Monday.

  • January 14, 2019

    Royal Park, Wells Fargo End RMBS Trustee Suit

    A New York federal judge on Monday granted a joint request from Royal Park Investments SA/NV and Wells Fargo Bank NA to dismiss with prejudice the remaining claims in the former’s litigation surrounding alleged failures by the latter as the trustee for two residential mortgage-backed securities trusts.

  • January 14, 2019

    UBS Takes Aim At Feds' Fraud Suit Over Crisis-Era RMBS

    UBS AG told a New York federal judge on Friday that the U.S. Department of Justice's lawsuit accusing it of defrauding investors through the sale of residential mortgage-backed securities leading up to the financial crisis should be dismissed, saying the case is based on an overly broad and legally unsupported interpretation of a financial institutions reform act.

  • January 14, 2019

    NYC Hits Property Brokerage With $21M Illegal Airbnb Suit

    New York City filed a lawsuit Monday in state court against a Manhattan real estate brokerage firm, accusing it of turning at least 130 apartments in 35 residential buildings into an illegal network of short-term Airbnb rentals that generated about $21 million in revenue over several years.

  • January 14, 2019

    KREF Closed 7 Senior Loans Worth $908M In Q4 2018

    KKR Real Estate Finance Trust Inc. on Monday said it closed seven floating-rate senior loans in New York, Florida, California and Pennsylvania in the fourth quarter of 2018 that amount to a combined $908 million, bringing its year-end total to $2.7 billion.

  • January 14, 2019

    Ill. Landowners Ask Justices To Revive Suit Against Tax Hikes

    A class of Illinois property owners has asked the U.S. Supreme Court to overturn a Seventh Circuit decision barring a suit that alleges an Illinois county disproportionately raised taxes on industrial and commercial properties in a township.

  • January 14, 2019

    11th Circ. Strikes Down $1.6M Lien Against Fla. Property

    Florida law honored a technically improper transfer of a deed from a taxable estate to a trust, invalidating a $1.6 million tax lien, the Eleventh Circuit ruled Friday, reversing a lower court’s decision.

  • January 14, 2019

    Real Estate Rumors: Overseas Union, Amazon, Two Roads

    Overseas Union Enterprise is reportedly looking to get roughly $700 million for US Bank Tower in Los Angeles, Amazon is said to be close to leasing roughly 10,000 square feet at the Chrysler Building in Manhattan, and a Two Roads Development venture has reportedly scored a $24.5 million loan for a Florida condo tower project.

  • January 14, 2019

    NJ Takes PennEast Pipeline Land Grab Fight To 3rd Circ.

    New Jersey officials on Friday said they would appeal to the Third Circuit a New Jersey federal judge's ruling that developers of the $1 billion PennEast gas pipeline can immediately seize more than 100 Garden State properties, including state-owned land, along the project's route.

  • January 14, 2019

    NYC Real Estate Week In Review

    Kasowitz Benson Torres LLP, Gibson Dunn & Crutcher LLP, Winston & Strawn LLP and Gerstein Strauss & Rinaldi LLP were among more than a dozen law firms that guided the largest New York City deals that hit public records last week, a group that included two transactions north of $100 million.

Expert Analysis

  • Why AFAs Are Key To The Future Of Legal Practice

    Kelly Eisenlohr-Moul

    Alternative fee agreements can help align law firm and client interests, increase efficiency and eliminate corporate extortion, among other benefits. They are the best thing to happen to the practice of law in decades, says Kelly Eisenlohr-Moul at Dinsmore & Shohl LLP.

  • Series

    Judging A Book: Barron Reviews 'The Clamor Of Lawyers'

    Judge David Barron

    Can lawyers lead a revolution? According to "The Clamor of Lawyers: The American Revolution and Crisis in the Legal Profession" — a slim but elegant volume by Peter Charles Hoffer and Williamjames Hull Hoffer — they can and they did, says First Circuit Judge David Barron.

  • Constitutional Challenges To Pipeline Takings Face Obstacles

    Clay Massey

    In a petition to the U.S. Supreme Court, the plaintiffs in Berkley v. Mountain Valley Pipeline claim the Natural Gas Act does not preclude district court review of constitutional objections to the law. However, their arguments are at odds with Supreme Court precedent, says Clay Massey of Alston & Bird LLP.

  • Facing The Challenges Of Eminent Domain Proceedings

    Jack Sperber

    In the event that a property is subjected to eminent domain proceedings, it's necessary to prepare for not only potential litigation with a government entity, but also a possible second set of litigation problems when a landlord and tenant cannot agree on compensation, says Jack Sperber of Faegre Baker Daniels LLP.

  • Pa. Properties With Billboards Could See Bigger Tax Bills

    Kevin Boyle

    In the Chester-Upland School District matter, decided last month, the Commonwealth Court of Pennsylvania opened the door for taxing authorities to increase property assessments on parcels containing billboards based on the revenue such billboards may generate, say Kevin Boyle and Tyler Mullen of Stradley Ronon Stevens & Young LLP.

  • Handling Corporate Congressional Probes In The Trump Era

    John Hellerman

    President Donald Trump’s approach to crisis communications has changed the game enough to demand companies' consideration of a whole new set of options. John Hellerman of Hellerman Communications and Bill Pittard of KaiserDillon PLLC discuss whether corporations can successfully use similar tactics.

  • Opinion

    The Case For Lawyer-Directed Litigation Funding In NY: Part 2

    Peter Jarvis

    Lawyer-directed nonrecourse litigation funding is more likely to protect a lawyer's exercise of independent professional judgment than traditional means of litigation finance, and furthermore enables worthwhile cases that otherwise could not be funded, say Peter Jarvis and Trisha Thompson of Holland & Knight LLP.

  • Opinion

    The Case For Lawyer-Directed Litigation Funding In NY: Part 1

    Peter Jarvis

    Contrary to what the New York City Bar Association concluded in an ethics opinion last year, lawyer-directed nonrecourse commercial litigation funding does not violate New York rules on sharing fees with nonlawyers, say Peter Jarvis and Trisha Thompson of Holland & Knight LLP.

  • In Pennsylvania, Drone Misuse Will Soon Be A Crime

    John Rafferty

    This Saturday, Pennsylvania will enact one of the most comprehensive collections of criminal penalties for drone infractions in the country. Businesses manufacturing, distributing or using drones in the state face new legal jeopardy, says John Rafferty of Gawthrop Greenwood PC.

  • Public-Private Partnerships Key In Opportunity Zones

    Doug Lamb

    The misalignment between tax incentives and project viability represents the biggest reason why the supply of capital to invest in opportunity zones will exceed the number of available deals. Public-private partnerships may offer a solution, say Brad Alexander and Doug Lamb of McGuireWoods LLP.