Real Estate

  • April 01, 2020

    DOI Board Overstepped In Navajo Pipeline Ruling, Judge Says

    A New Mexico federal judge has reversed Interior Board of Indian Appeals decisions that rejected the renewal of an oil pipeline company's right-of-way over land belonging to Navajo Nation members, saying the board shouldn't have resolved a crucial issue without letting the parties involved weigh in.

  • April 01, 2020

    PNC Bank Loans $198M For Queens Apartment Building

    PNC Bank has loaned roughly $198 million to real estate firm TF Cornerstone for an apartment building in Queens, according to records made public in New York on Wednesday.

  • April 01, 2020

    Real Estate Rumors: Daniel Abreu, Trump Org, Synovus Bank

    Investor Daniel Abreu has reportedly sold a Florida CVS Pharmacy for $8 million, The Trump Organization is said to have paused the sale of its D.C. hotel and Synovus Bank has loaned at least an additional $11 million for a Florida residential project.

  • April 01, 2020

    Loan Servicer Delays Seizing Rent From Pittsburgh Mall

    The company servicing a loan for a suburban Pittsburgh strip mall agreed to delay a "cash sweep" action until at least mid-May after the owners of North Hills Village complained that the seizure of tenants' rents to repay the loan could shut the center down amid the coronavirus pandemic.

  • April 01, 2020

    Wells Fargo Agrees To Pay $18.5M To End Mortgage Claims

    Wells Fargo has agreed to pay $18.5 million to settle claims that it denied loan modifications to eligible mortgage borrowers, according to a preliminary settlement agreement filed in California federal court.

  • April 01, 2020

    Lender Ends HUD Mortgage Fraud Case With $2.5M Payout

    Finance of America Reverse will pay nearly $2.5 million to end claims that a predecessor issued and underwrote hundreds of government-backed loans that didn't meet requirements for a federal reverse mortgage program. 

  • April 01, 2020

    Sierra Pacific Escapes From Price-Fixing Kickback Suit

    Mortgage servicer Sierra Pacific has managed to slip out of a proposed class action by borrowers accusing it of hatching a deal with a settlement service company to trade referrals for kickbacks after a Maryland federal court found that the disputed payments were likely shielded by law.

  • April 01, 2020

    Fitzgerald Yap Steers Wash. Homebuilder's $15M IPO Plans

    Washington-area real estate developer Harbor Custom Development Inc. said it is hoping to raise roughly $15 million in an initial public offering steered by Fitzgerald Yap Kreditor LLP.

  • April 01, 2020

    McCarter & English, Marcus Rosenberg Steer $30M NYC Loan

    McCarter & English represented an insurance affiliate of Lincoln Financial in connection with its $30 million loan to Marcus Rosenberg-counseled real estate firm Adams & Co. for an office building on Seventh Avenue in Manhattan, according to records made public in New York on Wednesday.

  • April 01, 2020

    Real Estate Lawyers On The Move

    Seyfarth Shaw, Jeffer Mangels, Blank Rome, Squire Patton Boggs, Fox Rothschild and Cullen & Dykman are among various law firms that have made recent real estate or construction hires.

  • March 31, 2020

    Mass. Tribe Wants Feds Barred From Taking Land Out Of Trust

    A Massachusetts tribe urged a D.C. federal court on Monday to issue a preliminary injunction to block the federal government from taking the Mashpee Wampanoag Tribe's reservation lands “out of trust” and revoking its reservation proclamation, which the U.S. Department of the Interior has said it will do soon.

  • March 31, 2020

    Nelson Mullins Gets Experienced Litigator In Boca Raton

    Nelson Mullins Broad & Cassel has snagged a commercial litigation expert as partner in its Boca Raton, Florida, office, according to a press release from the firm. 

  • March 31, 2020

    Del. River Agency Tells FERC That Pipeline Needs Its Approval

    The Delaware River Basin Commission must approve a 68-mile stretch of the proposed $1 billion PennEast natural gas pipeline project in Pennsylvania before any substantial construction on the controversial pipeline can begin, the multistate agency has told the Federal Energy Regulatory Commission.

  • March 31, 2020

    BNSF Asks 9th Circ. To Rethink Tribe's Oil Shipping Win

    BNSF Railway Co. has urged the Ninth Circuit to revisit a ruling that the Swinomish Indian Tribal Community can try to block the company’s increase in oil shipments across reservation land, saying that the Surface Transportation Board alone can regulate the railroad’s common carrier responsibilities.

  • March 31, 2020

    Pa. Mall Rips Wells Fargo's 'Outrageous' COVID-19 Rent Grab

    A Pittsburgh-area shopping center said it could fold under the strain of coronavirus-related business shutdowns if Wells Fargo and a Starwood Property Trust subsidiary follow through on an "outrageous" threat to seize the rent payments being submitted by the strip mall’s tenants, a federal lawsuit said Monday.

  • March 31, 2020

    Real Estate Rumors: Menlo Equities, Harbor Group, MaxSum

    Menlo Equities has reportedly paid nearly $98 million for a Virginia office building, Harbor Group is said to have dropped $100 million on a Florida multifamily property, and MaxSum Development has reportedly scored a $30 million loan for a Los Angeles multifamily project.

  • March 31, 2020

    Law Firm Pay Cuts, Layoffs Will Likely Multiply

    As Cadwalader pauses partner distributions and cuts staff pay and Pryor Cashman furloughs associates, a slew of other firms are likely to follow suit as the legal industry goes into crisis mode to weather the economic storm caused by COVID-19.

  • March 31, 2020

    444K-Square-Foot Houston Office Tower Lands Refinancing

    Parkway Property Investments has landed a refinancing package for a 443,549-square-foot office tower in Houston, according to an announcement on Tuesday from Jones Lang LaSalle, which brokered the deal for the borrower.

  • March 31, 2020

    Realtors Can't Arbitrate Antitrust Row, Consumers Say

    Consumers urged a Missouri federal judge on Monday not to force into arbitration a piece of their proposed class action accusing the National Association of Realtors and major broker franchisors of conspiring to inflate broker commissions, arguing the franchisor in question is too far removed from the arbitration provision.

  • March 31, 2020

    Balch & Bingham Adds Real Estate Permitting Atty

    An attorney with experience navigating real estate, land use and environmental permitting issues in Florida, including inside state and local government, has joined Balch & Bingham LLP as a partner.

  • March 31, 2020

    UK Watchdog Wants Estate Agent Execs DQ'd For Price-Fixing

    The U.K.'s competition enforcer said Tuesday it is seeking to disqualify executives from a pair of property companies that were previously fined for participating in a cartel to fix minimum commission rates.

  • March 31, 2020

    Attorneys Predict Rent Cancellation Defense, Challenges

    Since New York state Sen. Michael Gianaris introduced legislation to cancel three months of rent for New Yorkers directly affected by the COVID-19 crisis on March 23, the Queens legislator has collected 22 co-sponsors in the Senate and 12 in the Assembly, and the #CancelRent hashtag has proliferated on social media.

  • March 30, 2020

    Pandemic's Fallout May Include Heightened Fair Lending Risk

    With the coronavirus pandemic poised to wreak economic havoc on potentially millions of U.S. households in the coming months, the financial services industry could face a new wave of fair lending scrutiny as struggling borrowers fall behind on payments and seek relief on their mortgages.

  • March 30, 2020

    La. Appraisers Fight FTC Bid To Depose Outgoing Expert

    The Louisiana Real Estate Appraisers Board has urged a federal court not to let the Federal Trade Commission depose a departing expert economist to preserve her testimony for an in-house challenge of the board's fee rule, saying the agency's case is on hold.

  • March 30, 2020

    NJ Justices Told Lender 'Schemed' Against Jersey City

    An attorney for Jersey City argued Monday that a mortgage holder schemed to cheat the municipality out of compensation for a foreclosed city property in which they have a joint stake, telling the state Supreme Court that the lender purposely passed up the opportunity to recoup its losses through a security interest it had in a separate property.

Expert Analysis

  • NY Order May Limit Foreclosures, But Could Hurt Local Banks

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    A recent executive order from the New York governor facilitates mortgage forbearances to help stave off a statewide foreclosure crisis, but shifting too much of the burden to the banking industry could force small and local institutions to sell their residential loan portfolios to generate liquidity and avoid risk, say Adam Swanson and Jessie Bonaros at McCarter & English.

  • What COVID-19 Means For Calif. Real Estate And Use Permits

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    In California, the coronavirus pandemic and the state's response have raised important questions for those involved in pending or approved construction projects, as well as existing businesses that require modification or emergency funding, say Stephanie Smith and Avneet Sidhu at Grid Legal.

  • Confronting The Challenges Of Virtual Mediation

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    Conducting mediation via videoconference amid the ongoing pandemic poses significant challenges, including the difficulty of reading people when you are not with them in person. Daniel Garrie at JAMS shares six tips to overcome the limitations.

  • Landlord Lease Enforcement Options During COVID-19

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    As local and state governments continue to impose moratoriums on residential and commercial tenant evictions during the coronavirus pandemic, there are certain steps landlords can take to protect their lease enforcement rights, says Jamie Buggy at Crosbie Gliner.

  • Opinion

    Remote Notarization Bill Will Help Save The Economy

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    The Securing and Enabling Commerce Using Remote and Electronic Notarization Act recently proposed in Congress should be enacted as soon as possible because it will remove antiquated barriers to conducting business transactions and protect people from COVID-19 and other diseases, says Scott Rahn at RMO.

  • 3 Steps To Building Effective Teams While On Lockdown

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    When your team is working from different locations due to the COVID-19 outbreak, don’t default to just sending emails. Collaboration is much easier when team members are also communicating in real time over the phone or through videoconferences, say William Oxley and Meghan Rohling Kelly at BakerHostetler.

  • Strategic Takeaways From NJ Trespass Ruling

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    The New Jersey Supreme Court's recent decision in Kornbleuth v. Westover holds important lessons regarding damages for landowners in trespass cases and the unavailability of designated trial staff, says Hector Ruiz at Walsh Pizzi.

  • NY Fraud Ruling Shows High Bar To Prove Director Liability

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    Although the New York Supreme Court Commercial Division's decision in Acacia Investments v. West End Equity I leaves the door open for recovery against entities that receive fraudulent transfers of assets, the ruling demonstrates the high bar for proving individual directors were at fault in fraudulent conveyance claims, say Robert Quirk and Muhammad Faridi at Patterson Belknap.

  • Tokyo Olympics Move May Spark Wave Of Contract Litigation

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    The postponement of the 2020 Tokyo Olympics due to COVID-19 will likely lead to numerous contract claims from and against advertisers, sponsors, travelers, entertainers, service and technology providers, and other entities, say attorneys at Crowell & Moring.

  • Client Advocacy Tips For Remote Hearings During COVID-19

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    As the judiciary implements telephone and video hearings in response to the coronavirus pandemic, attorneys can deliver effective advocacy by following certain best practices, such as using backup materials and specially preparing witnesses and exhibits, say attorneys at Fish & Richardson.

  • How To Conduct Depositions Remotely

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    Remote depositions are a useful tool for meeting discovery deadlines while allowing all parties to stay at home amid the COVID-19 outbreak. But they come with a unique set of challenges, say Eliot Williams and Daniel Rabinowitz at Baker Botts. 

  • Oil Price War Makes New Debt Modification Strategies Key

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    With an unexpected increase in Saudi oil production and the COVID-19 pandemic sending oil prices downward, many upstream and midstream oil and gas companies are reevaluating their capital structures. But tax law developments since the 2008 financial crisis require new approaches to debt modifications, say attorneys at Skadden.

  • A Guide To Zealously Representing Clients During COVID-19

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    The American Bar Association's Model Rules of Professional Conduct require lawyers to be zealous advocates for clients' interests, but how do these rules apply in this unprecedented time of COVID-19? Anne Lockner at Robins Kaplan offers some pointers.

  • COVID-19 Preparations For Business Premises Owners

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    Business premises owners should enact preventative measures and create a coronavirus outbreak response plan in order to protect tenants' and employees' health and avoid falling afoul of liability claims, say Holly Hempel and Jessica Watson at Nelson Mullins.

  • Past Crises Model Virus Response For Mortgage Industry

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    Homeowners, banks and loan servicers weathering the impact of COVID-19 should take a cue from how the mortgage industry handled foreclosure moratoriums, customer communications, credit reporting, and increased litigation and enforcement during past natural disasters, says Allison Schoenthal at Hogan Lovells.

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