Commercial

  • February 21, 2024

    Public Storage Leaders See Hope After Post-Pandemic Dip

    Public Storage executives reported Wednesday that after a tough 2023, with self-storage demand dropping from pandemic highs, performance in some markets indicates investors will begin to see stabilization later this year.

  • February 21, 2024

    CoStar, Hotel Giants Accused Of Data-Driven Price-Fixing

    Hilton, Hyatt and other big name hotel operators are the target of a proposed class action alleging they colluded with hospitality industry analytics firm CoStar Group Inc. to fix prices in luxury hotel markets in Seattle and other major U.S. cities, according to a suit filed in Washington federal court.

  • February 21, 2024

    Rite Aid Gets OK To End Former Queens Store Lease

    Rite Aid Corp. was given permission Wednesday to reject a lease and sublease for a former store in Queens, New York, after a New Jersey bankruptcy judge found that doing so would benefit the debtor's estate.

  • February 21, 2024

    Calif. Bill Would Let AG Audit Private Equity Healthcare Deals

    California Attorney General Rob Bonta and Assembly Speaker Pro Tempore Jim Wood have filed legislation that will give the state's AG oversight of private equity and hedge fund acquisitions of healthcare facilities, saying that private equity is causing soaring consumer costs.

  • February 21, 2024

    Feds Found Responsible For Leased Building's Contamination

    The Civilian Board of Contract Appeals ruled that the federal government is liable for piscicide contamination of a building long used by the U.S. Fish and Wildlife Service, but is on the hook only for diminished value and not full restoration.

  • February 21, 2024

    1st Circ. Won't Revive $19M Casino Deal Suit Against Wynn

    The First Circuit affirmed the dismissal of a real estate executive's suit claiming Wynn Resorts reneged on a handshake deal to pay him $19 million for helping it obtain a casino license, pointing to an opinion from Massachusetts' top appellate court saying the agreement is unenforceable on public policy grounds.

  • February 21, 2024

    Atlantic City Hotels Want Room Rate Suit Tossed

    Atlantic City casinos said on Tuesday a suit alleging they conspired to inflate room rates should be tossed, arguing it doesn't show there was any kind of agreement between the casinos and that its claims are partially time-barred.

  • February 21, 2024

    Holland & Knight Adds Jones Walker Real Estate Atty In Miami

    Holland & Knight LLP announced it has brought on a former Jones Walker LLP attorney as a partner for its real estate capital markets team in Miami.

  • February 20, 2024

    FinCEN Details Owner Data Access Rules For Small Banks

    The U.S. Treasury Department's Financial Crimes Enforcement Network on Tuesday released a compliance guide for small financial firms on accessing and safeguarding company ownership information that their customers are required to report under recently implemented rules.

  • February 20, 2024

    Developers Deny 'Shell Game' Amid Push For More Sanctions

    Real estate developers facing potential imprisonment over their failure to pay EB-5 investors at least $26 million in settlement and sanction judgments have told an Illinois federal court their money is not hidden in a "shell game" but rather tied up in receivership proceedings the investors already know about.

  • February 20, 2024

    Pot Cos. Say They'll Be Ruined Unless Detroit Facility Opens

    Four cannabis companies have urged a Michigan federal court to prohibit the city of Detroit from taking any action that would impede their $15 million marijuana processing facility from opening, saying they are "in immediate danger of financial ruin" unless they operate the site as planned.

  • February 20, 2024

    Fla. Firm Closes $419M Refinancing Deal For Miami Tower

    Rosenthal Rosenthal Rasco LLC has wrapped up a refinancing transaction totaling over $419 million for Panorama Tower, an 85-story mixed-use residential property in Miami, the firm announced.

  • February 20, 2024

    Son's $63M Tax Deal Puts Diamond King's Widow In The Clear

    The federal government agreed to stop pursuing the widow of a diamond mogul to recover millions in tax liabilities connected to her husband and his estate after their adult son agreed to pay $63 million, according to a New York federal court order Tuesday.

  • February 20, 2024

    Cool-Cheese Pizzeria Got Cold Feet Over $2.1M Sale, Suit Says

    A Pittsburgh pizzeria known for its unusual practice of putting cold cheese on its pies backed out of a $2.1 million sale just before a potential buyer came to visit, according to a lawsuit a real estate agent filed in Pennsylvania state court.

  • February 20, 2024

    Mich. Township Must Face Winery Wedding Ban Suit

    A Michigan federal judge has said he won't dismiss wineries' challenge to a Michigan town's rules limiting their ability to host weddings and other events, saying it would be "unwise" to toss the lawsuit because the wineries are still allegedly experiencing harm from the ordinance.

  • February 20, 2024

    Law Firm Wins Unredacted Deal Info In NJ Malpractice Fight

    A law firm has prevailed in a discovery battle against a sibling duo suing it for malpractice in New Jersey state court with a ruling that the plaintiffs must provide unredacted info about the settlement they reached in the underlying suit that the firm allegedly mishandled for them.

  • February 20, 2024

    Frost Brown Adds Real Estate Litigators From Spencer Fane

    Frost Brown Todd LLP announced Tuesday that it has strengthened its real estate practice group with a pair of energy-savvy litigators in Dallas who came aboard from Spencer Fane LLP.

  • February 20, 2024

    Pa. Contractor Says Ohio Cosmetic Centers Skipped $2M Bill

    A construction contractor took the owner of several medical spa and cosmetic surgery practices to Pennsylvania state court on Friday after the healthcare firm allegedly halted projects in two Ohio suburbs and then failed to pay $2 million that the builder was owed for its work on them.

  • February 20, 2024

    Justices Won't Review Partnership's $26M Easement Row

    The U.S. Supreme Court declined Tuesday to hear a partnership's bid to keep a $26.5 million deduction for a land conservation easement, letting stand a decision that the case was barred by a law that prohibits suits that restrain the collection of taxes.

  • February 20, 2024

    Winstead Taps 6 For Shareholder Positions In Texas, NC

    Winstead PC has announced that six attorneys have been named as shareholders in its Austin, Dallas and Charlotte, North Carolina, offices.

  • February 16, 2024

    2023 Bay Area Investments Fall To Lowest Level Since 2010

    High interest rates in 2023 brought the San Francisco Bay Area $11 billion worth of investment sales in 2023, a 51% drop from a year prior and the lowest dollar volume since 2010, according to research from CBRE.

  • February 16, 2024

    Wyndham CEO Reports 'Expansive' FTC Query Into Takeover

    Wyndham Hotels and Resorts says that the Federal Trade Commission's "expansive" request for more information has "only increased" its concerns about the wisdom of Choice Hotels International's attempt to buy out the company without the board's blessing.

  • February 16, 2024

    NYCB Brass Face Investor Suit Over Signature Bank Takeover

    Executives and directors of New York Community Bank were named in a new shareholder derivative suit, adding to the growing list of litigation the bank and its leaders are facing over the fallout from its acquisition of Signature Bank's assets last year.

  • February 16, 2024

    Digital Realty Says Virginia, Europe Data Centers On The Way

    Digital Realty Inc. reported that it saw $1.4 billion in revenue in the final quarter of 2023, a slight dip from the previous quarter but an 11% jump from the same quarter in 2022, amid a late flurry of investment activity, per fourth quarter financial results.

  • February 16, 2024

    Chamberlain Hrdlicka Adds Corporate Attorney In Philly

    A seasoned transactions attorney has returned to private practice after more than 10 years as in-house counsel and joined Chamberlain Hrdlicka White Williams & Aughtry's Philadelphia office.

Expert Analysis

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

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    As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • ESG Around The World: Canada

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    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

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    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • Trends That Will Shape The Construction Industry In 2024

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    Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Adjusting Deals To Reflect Shifts In The CRE Market

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    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.

  • 4 International Arbitration Trends To Monitor In 2024

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    Global growth slowed substantially in 2023, and may continue into 2024 due to geopolitical instability, which could fuel four key trends in international arbitration in the coming year, including investor-state and commercial arbitration, an increase in arbitration out of China, and more, say Gregory Litt and Sharmistha Chakrabarti at Skadden.

  • How DOI Aims To Modernize Resource Damage Assessments

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    The U.S. Department of the Interior's recent proposal to redesign its Type A rule for conducting natural resource damage assessment and restoration activities could lead to a more streamlined, flexible assessment process that would benefit both natural resource trustees and potentially responsible parties, says Brian Ferrasci-O'Malley at Nossaman.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.