Real Estate

  • August 19, 2019

    Starwood's Mortgage REIT Wraps Up $1.1B CLO

    Starwood Property Trust has clinched a $1.1 billion commercial real estate collateralized loan obligation, the mortgage real estate investment trust run by Greenwich, Connecticut-based private investment firm Starwood Capital Group said on Monday.

  • August 19, 2019

    Online Mortgage Lender Better.com Lands $160M In Funding

    Digital mortgage startup Better.com said Monday it raised $160 million in a Series C funding round, with backers including Activant Capital, Citi and American Express Ventures.

  • August 16, 2019

    Home Inspectors Not Exempt From NJ Consumer Fraud Law

    Home inspectors are not exempt from liability under the New Jersey Consumer Fraud Act because there is “no direct and unavoidable conflict” between that statute and other regulations governing them, a state appeals court said in a published opinion that revived a couple’s claims against a former inspector.

  • August 16, 2019

    Trump's Greenland Folly: 'Not As Simple As Buying A Resort'

    President Donald Trump spent decades affixing his name to flashy properties, but his reported interest in purchasing the autonomous territory of Greenland — while legally feasible — would be fraught with logistical, political and pragmatic hurdles.

  • August 16, 2019

    Atty Can't Tap Into Receiver Assets In Belize Fraud Case

    A Maryland federal judge has denied a defendant's bid to release restrained funds so he can pay his lawyer about $189,000 in fees and costs in a Belize property sales case, which the Federal Trade Commission calls the largest overseas real estate investment scam it has ever targeted.

  • August 16, 2019

    Mich. Gets Win Over Tribe In Fight Over State Boundary

    The Little Traverse Bay Bands of Odawa Indians cannot get recognition of their reservation boundaries from the state of Michigan, a federal judge has ruled, saying an 1855 treaty set aside land land for individual allotments, not a reservation.

  • August 16, 2019

    Citi Investors Drop $2.3B Toxic Mortgage Class Action

    A New York state judge on Friday approved a move by a proposed class of Citibank NA investors to drop their lawsuit against the bank for claims they lost $2.3 billion because Citibank ignored widespread problems with toxic residential mortgage-backed securities.

  • August 16, 2019

    Sam Chang Lands $83M Loan For Manhattan Hotel

    Hotel developer Sam Chang of McSam Hotel Group LLC has landed $83 million in financing for a hotel on West 51st Street in Manhattan, according to an announcement Friday from Madison Realty Capital, which provided the loan.

  • August 16, 2019

    Real Estate Rumors: GSI, Mack, Chicago Condo Deconversion

    A GSI Equities venture is reportedly under contract to buy a Miami building for nearly $10 million, Mack Real Estate Credit Strategies is said to have loaned $368 million for three New York City properties, and a residential condo building in Chicago could be converted to a hotel.

  • August 16, 2019

    Charter Hall Reveals AU$700M Partnership With Telstra

    Australian real estate and private investment firm Charter Hall Group on Friday announced a AU$700 million ($474.4 million) partnership that will manage 37 properties on behalf of Melbourne-headquarters telecommunications giant Telstra Corp.

  • August 15, 2019

    6th Circ. Backs Landowners’ Cert. In Chesapeake Royalty Row

    The Sixth Circuit affirmed class certification Thursday for landowners claiming Total E&P USA Inc. and Chesapeake Exploration LLC withheld payments from hundreds of royalty owners, saying differences among the natural gas and oil wells did not overly complicate the common question of whether the company made improper payment deductions.

  • August 15, 2019

    Casino Investors, Noteholders Agree To Joint IPO Probe

    After some prodding by a New York bankruptcy judge, a bankrupt hedge fund and a group of its bondholders Thursday agreed to jointly oversee an investigation into the initial public offering that allegedly sent the fund into Chapter 11.

  • August 15, 2019

    WeWork IPO Filing Reveals Legal, Governance Risks

    Office-rental giant WeWork’s filing for an initial public offering, which could pave the way for another blockbuster deal in a banner year for IPOs, also reveals an array of legal, corporate governance, and economic risks that could give the company headaches down the road. Here are three notable disclosures.

  • August 15, 2019

    11th Circ. Won't Revive Suit Over Ocwen's Software Problems

    An Eleventh Circuit panel ruled Thursday that a lower court was correct to ditch a proposed class action brought by a pension fund against mortgage servicer Ocwen Financial Group because the company's alleged misstatements over its software were too vague to have credibly breached federal securities laws.

  • August 15, 2019

    Real Estate Lawyers On The Move

    Kirkland, Allen Matkins, Cozen O'Connor, Dentons, Sills Cummis, Willkie Farr, K&L Gates, Lewis Brisbois, Sheppard Mullin and Gordon & Rees are among the law firms that made real estate or construction hires over the past month.

  • August 15, 2019

    Real Estate Developer Ducks TCPA Suit Over Marketing Texts

    A Florida woman couldn't show that real estate investment company CA Ventures was behind unwanted text messages promoting a Miami apartment building, a federal judge said Thursday in dismissing the case.

  • August 15, 2019

    Arbitration Pact Valid Even If Signed After Suit: Calif. Panel

    A California state appeals court has found that a lower court should have granted a property management business's bid to force an employee to arbitrate his age bias and wage-and-hour suit, saying it didn't matter that he signed an arbitration pact after he filed his case.

  • August 15, 2019

    Receiver Can Sell More Property In Jay Peak EB-5 Fraud Case

    A Florida federal judge has allowed the receiver in the failed Jay Peak EB-5 immigrant investor project to sell a Vermont property relinquished by Miami businessman Ariel Quiros to benefit creditors and investors in an alleged $350 million fraud.

  • August 15, 2019

    Enviro Says City Can Go Beyond Ohio's Lake Erie Rules

    An Ohio environmental group said Thursday that local communities can pass provisions that go beyond state-imposed guidelines if they are aimed at enhancing public health and safety, arguing that a challenge to the city of Toledo's "bill of rights" for Lake Erie's protection should fail.

  • August 15, 2019

    Kirkland Scoops Up Real Estate Specialist From Paul Hastings

    The former vice chair of the real estate practice at Los Angeles-headquartered Paul Hastings LLP has moved down the street to the L.A. office of Kirkland & Ellis LLP as part of an effort to fill out the latter firm's West Coast roster, Kirkland announced on Wednesday.

  • August 15, 2019

    Real Estate Rumors: Apple, Uber, Slate Property

    Apple is reportedly eyeing between 200,000 and 750,000 square feet of space in Manhattan, Uber has reportedly purchased multiple parcels of land in Dallas, and a Slate Property venture is said to have paid $106.5 million for a New York apartment building.

  • August 15, 2019

    Ashford Trust Sells Marriott, Hilton Hotels For $37.8M

    Ashford Hospitality Trust Inc. said Thursday it has sold for $37.8 million the 156-room Courtyard by Marriott Savannah Downtown/Historic District hotel in Savannah, Georgia, and the 128-room Hilton Garden Inn in Wisconsin Dells, Wisconsin.

  • August 15, 2019

    Fox Rothschild Settles Malpractice Claims Over Bias Suit

    Fox Rothschild has settled allegations in New Jersey state court that it mishandled a discrimination suit against Wentworth Group Inc. by failing to warn that a verdict in the underlying case could exceed the property management company's insurance limits, according to court documents.

  • August 15, 2019

    Tribal Casino Fight Won't Wait For Supreme Court Ruling

    The Comanche Nation has lost its bid to pause litigation challenging a Chickasaw Nation casino until the U.S. Supreme Court resolves a case touching on tribal jurisdiction, with an Oklahoma federal judge saying Thursday that the appeal’s outcome likely won’t affect his decision.

  • August 15, 2019

    Real Estate Startup Flyhomes Nabs $141M In New Funding

    Real estate startup Flyhomes said Wednesday it has brought in $141 million in new financing, including $21 million in Series B funding led by venture capital firm Canvas Ventures.

Expert Analysis

  • 2 Insurance Coverage Issues Raised By Cyber Warfare

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    As politics and cyberrisks become increasingly intertwined, policyholders and insurers alike would benefit from more certainty in relation to the cyber insurance war exclusion, and from more options in the market that would cover a cyberattack on the U.S. power grid, says Thomas Hunt of Robert M. Currey & Associates.

  • Crisis Messaging To Protect Law Firm Brand And Bottom Line

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    When crises occur, such as data security incidents or gender bias suits, a well-prepared law firm has a thoroughly tested communications plan at the ready, which ensures the firm is the most proactive news source, prevents the crisis from escalating and notifies stakeholders about mitigation efforts, says Zach Olsen at Infinite Global.

  • When A Click Doesn't Count As Arbitration Acceptance

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    The Eighth Circuit's recent denial of an employer’s request to force arbitration in Shockley v. PrimeLending teaches employers important lessons about how courts will interpret concepts like “agreements” when the employer’s personnel documents are electronically stored and contain automated acceptances, says Michele Brott at Davis Brown.

  • Perspectives

    What You Should Know About Courtroom Closures

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    At attorney Greg Craig’s trial in D.C. federal court this week, the courtroom was cleared so prospective jurors could answer sensitive questions. Even seasoned litigators were left wondering about the nature of this subtle, yet significant, issue involving Sixth Amendment public trial rights, says Luke Cass at Quarles & Brady.

  • 4 Working Capital Safe Harbors For QOZ Startups

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    To avoid devastating penalties that can be triggered due to conflicting use and timing requirements under the new qualified opportunity zone regime, real estate investors should ensure qualified opportunity funds include certain provisions, says Tucker Thoni at GrayRobinson.

  • Series

    Why I Became A Lawyer: A Seaweed Scientist's Odyssey

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    In the early 1980s, I was working on my Ph.D. in marine biology and ecology. As part of an international team of scientists studying oil spill impacts on marine ecosystems, I saw a niche opportunity to combine science and law, says Andrew Davis of Shipman & Goodwin.

  • NY Tax Minutes: Trump Tax Returns, New Corporate Tax Regs

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    In their roundup of New York's recent tax law highlights, Timothy Noonan and Craig Reilly of Hodgson Russ discuss the ongoing battle over President Donald Trump’s state tax returns and New York's recently updated corporation franchise tax apportionment regulations.

  • Opinion

    Clients Benefit From Law Firm Expense Growth

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    Although there continue to be corporate clients who are seduced by the idea that cheapest is always best when it comes to outside counsel, there are many negative implications on service delivery that result from myopically focusing only on cost reduction at the expense of quality and innovation, says Keith Maziarek at Katten Muchin.

  • Keeping Railroads Secure From Drones

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    Railroad companies may soon gain legal protections against hostile unmanned aircraft system activity, under pending federal regulations on critical infrastructure. Until then, railroads have some protection from state laws, but should be cautious about adopting counter-UAS technology, say attorneys at Jenner & Block.

  • Opinion

    Changing Ethics Rules Is Key To Law Firm Innovation

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    As demonstrated by the California bar proposal to allow nonlawyers to invest in law firms, we can change the legal ethics rules in a way that protects clients while permitting firms to innovate and serve clients better, say Todd Richheimer of ​​​​​​​Lawfty and Peter Joy of Washington University Law School.

  • National Coordinating Counsel: Key To Virtual Mass Tort Team

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    The national coordinating counsel is at the helm of both the design and execution of the virtual law team, providing case leadership and subject matter expertise, and ensuring consistency and efficiency throughout a mass tort litigation, say attorneys at Sidley Austin and FaegreBD.

  • The Eminent Domain Consequences Of Knick Ruling

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    The U.S. Supreme Court's ruling in Knick v. Township of Scott is unlikely to cause a flood of federal takings lawsuits in Georgia and the Carolinas, but it may bring other eminent domain considerations for state and local governments, say attorneys at Parker Poe.

  • Series

    Judging A Book: Castillo Reviews 'Raising The Bar'

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    A timely new book, “Raising the Bar: Diversifying Big Law," is one of the first honest assessments of the challenging battleground for people of color at large law firms, and I hope that firm management committee members read it, says U.S. District Judge Rubén Castillo of the Northern District of Illinois.

  • Opinion

    A Welcome Turning Of The Tide On State Preemption Of Cities

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    The troubling trend of state preemption of local authority across a wide array of policy areas seemed only to be growing until this spring’s legislative season, which saw states reconsidering and even beginning to unwind a legacy of interference, says Nestor Davidson, a professor at Fordham Law School.

  • Key Fair Lending Insights From DOJ 'Redlining' Deal

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    The U.S. Department of Justice’s recent fair lending settlement with First Merchants Bank is the first neighborhood-discrimination — or so-called redlining — matter initiated and settled under the Trump administration, and contains useful lessons for institutions seeking to evaluate their own redlining risk, says Melanie Brody at Mayer Brown.