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Real Estate

  • March 21, 2019

    Ill. Supreme Court Tosses Union's $2M Real Estate Bill

    An Illinois Teamsters union local should not be liable for the outstanding balance on a property it leased for office space because the union didn’t follow statutory procedure to execute the agreement in the first place, the state’s highest court ruled Thursday.

  • March 21, 2019

    Bank Can't Undo Default Win, Left With $4.9M Error

    An Illinois bank that has been trying for five years to undo what it says was a $4.9 million overpayment for a foreclosed property had its latest attempt shot down by a state appeals court on Wednesday.

  • March 21, 2019

    JV Members Can't Rewrite Contract They Didn't Read

    Two members of a group of California real estate investment ventures lost their bid to have the ventures’ operating contracts rewritten Wednesday in Delaware Chancery Court when a judge ruled that not reading the contracts doesn’t entitle the members to have agreed-upon provisions negated.

  • March 21, 2019

    Ready Capital Nets $105M In Loans For Properties In 4 States

    Ready Capital said on Thursday that it has closed a slew of loans for acquisition and redevelopment purposes for properties in Texas, Florida, California and Illinois for a total of approximately $104.7 million.

  • March 21, 2019

    REIT Tax Atty Returns To Hogan Lovells To Lead Trust Practice

    Hogan Lovells has announced that a former EY attorney has returned to the law firm to serve as head of its U.S. real estate investment trust tax practice in Washington, D.C.

  • March 21, 2019

    FDIC's $695M Mortgage-Backed Securities Suit Tossed

    A New York federal judge dumped the Federal Deposit Insurance Corp.'s $695 million residential mortgage-backed securities suit against three banks Wednesday, finding for the second time that the agency lacked standing to bring claims of improper conduct against trustees of the bundled mortgages.

  • March 21, 2019

    RICO Claim Tossed In Fla. Suit Against Timeshare-Exit Firm

    A Florida federal court on Thursday partly granted Aaronson Law Firm's motion to dismiss timeshare resort developer Club Exploria's suit alleging the firm encouraged customers to back out of their contracts, trimming several counts including one claiming violations of the Racketeer Influenced and Corrupt Organizations Act.

  • March 21, 2019

    Foreclosure Firms Get High Court Help, But Questions Remain

    Lenders and the law firms they hire to perform nonjudicial foreclosures can take some comfort in the U.S. Supreme Court's unanimous decision that the Fair Debt Collection Practices Act doesn't broadly apply to these out-of-court proceedings, but the ruling still leaves some questions to sort out, experts told Law360.

  • March 21, 2019

    Real Estate Rumors: JDL, Rodan Property, Diana Chen

    A JDL Development venture has reportedly landed $735 million in financing for a Chicago residential and retail tower project, Rodan Property Management is said to have bought a Miami industrial property for $12.25 million, and billionaire Diana Chen has reportedly purchased a Los Angeles mansion once owned by Barry Bonds for $23 million.

  • March 21, 2019

    Pittsburgh Loses Bid To Dodge FCA Housing Suit Again

    A Pennsylvania federal judge refused to dismiss a False Claims Act suit accusing the city of Pittsburgh of defrauding the federal government of millions of dollars meant for the Community Development Block Grant program, nearly a year after the Third Circuit revived the suit.

  • March 20, 2019

    What’s In A Judgeship? More Than Meets The Eye

    Figuring out what constitutes a manageable workload for the nation’s district judges is no simple task. Getting the judiciary the resources it needs is even harder.

  • March 20, 2019

    Swamped: How Magistrate Judges Salvaged Louisiana's Judicial Crisis

    The Western District of Louisiana is supposed to have seven district judges. But for a year, most of the courthouses were operating without a single Article III judge. As usual, magistrate judges picked up the slack.

  • March 20, 2019

    New Impeachment Info Fails To Get Ex-Vereit Exec A New Trial

    A Manhattan federal judge said Tuesday that while prosecutors didn't disclose evidence that former Vereit Inc. executive Brian Block could have used against a cooperating witness in his criminal fraud case, that evidence wouldn't have stopped the jury from convicting Block.

  • March 20, 2019

    Federal RICO Claims Tossed In Ga. Real Estate Fraud Suit

    The sons of a real estate fraudster who allegedly helped cheat Chinese investors out of more than $20 million partially won their bid Wednesday to cut racketeering claims from a suit filed against them in Georgia federal court.

  • March 20, 2019

    Home Equity Startup Lands $122M In Funding

    Point, a financial technology startup that invests in home equity, said Wednesday that it secured $122 million in new funding that will be used to achieve the company's goal of serving more than 70 percent of U.S. homeowners by 2020.

  • March 20, 2019

    Real Estate Rumors: Morgan Stanley, AEW, Stockbridge

    Morgan Stanley has reportedly loaned $64.2 million for a San Diego hotel purchase, AEW Capital is said to be seeking a roughly $190 million sale of a Manhattan office building, and Stockbridge Capital has reportedly paid $183 million for an under-construction Silicon Valley building leased to 23andMe.

  • March 20, 2019

    Panama Unit Owners Can't Pause Row With Trump Hotel Cos.

    The owners of the majority of units in a Trump-branded Panamanian luxury hotel cannot pause their suit against two Trump hotel management companies pending the resolution of related arbitration proceedings, with a New York federal judge ruling that a stay was not necessary.

  • March 20, 2019

    Pair Of Firms Help TLG With $101M Purchase, $135M Sale

    TLG Immobilien AG on Wednesday said it has purchased a Bonn, Germany, office property for roughly €88.5 million ($101.3 million) and sold 29 retail properties for €118 million, and the German real estate firm had help from Gleiss Lutz Hootz Hirsch on the purchase and P&P Pollath & Partners on the sale.

  • March 20, 2019

    NY Life Unit Loans $94M For Calif. Office Project

    The real estate lending arm of New York Life Insurance Co. has given $94.1 million in financing to California developer Westlake Realty Group Inc. for a San Mateo office project, New York Life announced Wednesday.

  • March 20, 2019

    'Seaport Hotel' Too Generic For Fidelity TM Claim, Omni Says

    The term “seaport hotel” is too generic for Fidelity Investments Inc. to claim trademark protection, a planned Omni hotel in Boston's swanky Seaport neighborhood argued Tuesday as it sought to put an end to a dispute between the existing and future establishments.

Expert Analysis

  • The Latest On Vapor Intrusion Regs In Calif.

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    Recent and upcoming vapor intrusion policies from California environmental regulators will increase the number of properties investigated, shift the focus to indoor air sampling, and possibly affect real estate transactions, say Catherine Johnson and Dorothy Dickey of Environmental General Counsel LLP.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • Trial Counsel's Role On A Mass Tort Virtual Law Team

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    Trial counsel’s contribution to the virtual law team throughout the life cycle of a mass tort litigation rests in the key skill of viewing the case through the eyes of the ultimate audience for the defense, the jury, say attorneys at Covington & Burling LLP and Faegre Baker Daniels LLP.

  • Tech Trends From SXSW Pose Unique Questions For Lawyers

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    These days, a popular theme in media is that lawyers' jobs will be taken by robots. However, based on the tech issues discussed at the South by Southwest technology conference in Austin, Texas, last month, robots may in fact need lawyers, says Nick Abrahams of Norton Rose Fulbright.

  • In Bar Admissions Process, It's Candor Or Bust

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    You passed the bar exam and are ready for the character and fitness committee interview. Time to think about how to discuss that minor incident in college, that misdemeanor in high school or that mental health issue that you have totally under control, says Richard Maltz of Frankfurt Kurnit Klein & Selz PC.

  • Key Points For Negotiating 5G Cell Site Contracts

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    As nationwide deployment of 5G networks gathers steam, unexpired cell site agreements will have to be revisited and many new ones will have to be negotiated. When doing so, dealmakers will want to pay special attention to a few real property issues that are often overlooked, say Walt Sapronov and Robert Turner III of Sapronov & Associates PC.

  • Series

    Judging A Book: Bashant Reviews 'Doing Justice'

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    My initial reaction to "Doing Justice" was that author Preet Bharara may have bitten off more than he could chew — an accusation leveled against him when he served as U.S. attorney for the Southern District of New York — but I found the book full of helpful gems, says U.S. District Judge Cynthia Bashant of the Southern District of California.

  • Firms Can Leverage Communications When Economy Is Slow

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    Though most experts believe that an imminent recession is unlikely, slowdown fears are increasing. Now is the time for firms to consider how to best leverage their communications and marketing teams to lessen impacts from a potential economic slowdown, says Tom Orewyler of Tom Orewyler Communications LLC.

  • Why A Data Center Sale And Partial Leaseback Is A Win-Win

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    The sale and partial leaseback of older data centers is a clever way to right-size a company, and data center operators benefit from this structure as well because it guarantees them an instant anchor tenant, says Michael Rechtin Jr. of Seyfarth Shaw LLP.

  • 4 New Considerations In Calif. Real Estate Law

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    Commercial landlords, tenants and developers, as well as purchasers and sellers of real estate, should all pay attention to recent amendments to California law that alter the backdrop against which leases and transactions are negotiated, says Ian O'Banion of Nixon Peabody LLP.