Commercial

  • April 04, 2024

    PE Firm Announces $1.25B JV To Buy, Develop Marinas

    Private equity firm Centerbridge Partners LP and marina owner Suntex Marina Investors LLC have formed a joint venture that aims to acquire and develop new marinas in the U.S. that are worth more than $1.25 billion, according to a joint announcement.

  • April 04, 2024

    Last-Resort Insurers Grapple With Increasing Exposure

    Insurance pools meant to serve as backstops for consumers shut out of traditional markets are grappling with increased exposure to natural disasters, according to experts and market data, a trend that observers say is concerning as climate change intensifies storms.

  • April 04, 2024

    Real Estate Fraudster Wins 3rd Circ. Bid To Testify

    The real estate agent who helped ex-NFL player Irving Fryar in a scheme to defraud several banks out of $1 million in mortgages was wrongly denied the ability to testify on his own behalf at a hearing over alleged violations of his supervised release, the Third Circuit ruled in a precedential opinion Thursday.

  • April 04, 2024

    Real Estate Partner Brad Wright Joins Dorsey In Phoenix

    Brad Wright, a real estate attorney with experience in developing projects with public amenities, has joined Dorsey & Whitney LLP's growing Phoenix practice from Polsinelli PC, the firm announced.

  • April 04, 2024

    MLB's Athletics To Play In Sacramento Before Move To Vegas

    The Oakland Athletics will play the 2025 to 2027 seasons in Sacramento's 14,000-capacity minor-league ballpark while their planned stadium in Las Vegas is built, the franchise and Major League Baseball announced Thursday morning, officially making this season the team's last in Oakland after 57 years.

  • April 04, 2024

    Md. Lessee Owes Tax On Gov't Property, Appeals Court Says

    A lessee of government property in Maryland that was sublet to other users was correctly denied a partial property tax abatement, the state appeals court has said, even though some subtenants were government entities.

  • April 04, 2024

    Project Owners Eager To Sell Energy Tax Credits, Report Says

    Project owners are pursuing new financing strategies that would support the early sale of their clean energy tax credits as more projects in their initial development stage this year seek to capitalize on the incentives as early as possible, a report released Thursday said.

  • April 03, 2024

    NY Landlord, NextEra Ink Deal In Solar Farm Easement Suit

    A New York federal judge on Wednesday signed off on the decision made by a group of NextEra Energy Inc. affiliates to drop claims against a landlord, ending a dispute over utility easements needed to complete two solar farm projects.

  • April 03, 2024

    NY Bank, Investors Want Derivative Suits Merged, Paused

    New York Community Bancorp Inc. and several of its investors asked a New York federal judge to consolidate and stay the investors' derivative shareholder suits against the bank.

  • April 03, 2024

    Broker Says Developer Won't Pay Finder's Fee On $24M Loan

    A South Carolina real estate developer has failed to fork over a finder's fee to his broker on more than $24 million in financing for a mixed-use project on the coast of North Carolina, according to a newly filed federal complaint.

  • April 03, 2024

    Md. Lawmakers OK Special Tax Rates For Vacant Property

    Maryland would authorize its counties and the city of Baltimore to impose special tax rates on vacant or abandoned property under legislation approved by lawmakers and headed to the governor.

  • April 03, 2024

    5 Hotel Cos. Defeat Trafficking Claims, 2 Others Settle

    An Ohio federal judge gave five hospitality companies early wins against a sex trafficking survivor's liability claims and dismissed two others following undisclosed settlement agreements, bringing an end to the survivor's suit alleging the companies should have seen warning signs and prevented what happened to her.

  • April 03, 2024

    Forchelli Appoints Environmental Practice Chair

    Forchelli Deegan Terrana LLP has announced the hiring of a partner with experience in organizations such as Miller Environmental Group Inc. and New York American Water to chair its environmental practice group.

  • April 03, 2024

    Hotels Eye Conversions, M&A As Construction Slows

    Hotel operators are seeking growth through brand conversions and mergers and acquisitions as hospitality construction activity stagnates worldwide, JLL reported.

  • April 03, 2024

    RE Funds Lost Money For First Time Since '08, McKinsey Says

    The real estate industry brought investors negative returns in 2023 for the first time since the 2008 financial crisis, according to a year-end report from consultant McKinsey.

  • April 03, 2024

    Skanska Inks $1.4B Contract To Replace Seattle Bridge

    Skanska and Washington's Department of Transportation closed a $1.4 billion bridge replacement contract that aims to update Seattle's Portage Bay Bridge so that it's up to "current seismic resiliency standards," the construction and development company announced.

  • April 03, 2024

    CBRE Economist Projects Real Estate Uptick For 2024

    After largely retreating to the sidelines during the past couple of years of economic challenges, it is time for real estate players to step back on the field and take some risks — if cautiously — in light of the current economic outlook and solid industry fundamentals, CBRE Group Inc.'s global chief economist suggested Wednesday.

  • April 03, 2024

    Real Estate Lawyers On The Move

    Goodwin Procter, Akin Gump and Dykema Gossett are among the law firms that have made recent real estate hires.

  • April 03, 2024

    Lawmakers Rail Against Amtrak's Union Station Takeover Bid

    In a letter made public Tuesday, lawmakers raised concerns to Transportation Secretary Pete Buttigieg about Amtrak's pending bid to take control of Washington, D.C.'s Union Station, which, if successful, could upend eminent domain precedent.

  • April 03, 2024

    As EVs Catch On, Chargers May Be New Real Estate Standard

    Electric vehicle charging infrastructure isn't yet a prerequisite for a successful real estate development, but experts say it's speeding toward becoming as standard as Wi-Fi or ATMs, even in an environment of rapid-fire regulatory and technology change.

  • April 03, 2024

    Winston Real Estate Leader Eyes Uptick In Deal Volume

    In anticipation of multiple interest rate cuts from the Federal Reserve later this year, commercial real estate deal flow is likely to pick up in the near term, Winston & Strawn LLP's real estate leader told Law360 in an interview.

  • April 03, 2024

    2024 Proxy Fight Preview: Hotel Operator, Shops, Offices

    Every spring ushers in a new season of proxy fights between activist investors and boards of directors, and a handful of commercial property companies are in the midst of battles with dissatisfied shareholders, while the industry at large continues to face economic stressors.

  • April 02, 2024

    Lenders Notch Win In Tilting Manhattan Condo Loan Suit

    A New York appellate court on Tuesday dropped an Israeli bank and several claims from a thorny loan dispute brought by the developers behind a slanted, half-built Manhattan tower, months after a trial court judge greenlit the lenders' request to foreclose on the property.

  • April 02, 2024

    NY Appeals Court Nixes Sanctions In $195M Mezzanine Loan Row

    A New York state appeals court unanimously reversed $50,000 in sanctions against Friedman Kaplan Seiler Adelman & Robbins LLP on Tuesday in a dispute involving a $195 million mezzanine loan, ruling that the law firm's conduct during the suit wasn't frivolous under state law.

  • April 02, 2024

    Detroit Office Market Improving Somewhat In 2024, CBRE Says

    Detroit's office market showed some good signs in 2024's first quarter, with the city seeing nearly 50,000 square feet of positive net absorption and the downtown area showing positive net absorption for the first time since 2023's second quarter, according to a new report on Tuesday.

Expert Analysis

  • How Investors Can Seize Renewables Opportunities In RE

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    As governments and stakeholders increasingly focus on sustainability in the real estate sector, investors could capture significant upside by implementing an operational real estate strategy focused on renewable energy sources, say attorneys at Goodwin.

  • Insurance Cos. Are Stretching Construction Standard Limits

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    In the construction sector, the importance of closely vetting downstream parties' insurance policies has never been more critical — owners and general contractors need to be on the lookout for ever broader carrier-specific expansions of standard insurance provisions that are perilous for risk transfer, says Eric Clarkson at Saxe Doernberger.

  • Potential WeWork Bankruptcy May Disrupt Coworking Spaces

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    If WeWork files for bankruptcy, as hinted at in its recent quarterly earnings report, landlords may struggle to take over management of WeWork's coworking spaces, but the coworking industry as a whole is showing some promise in adapting to the market's evolving post-pandemic office needs, says Ann Chandler at Hall Estill.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • A Cautionary Tale Of Flawed Debt Accounting And SEC Fines

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    The U.S. Securities and Exchange Commission's recent improper-accounting charges against Malvern Bancorp and its ex-CFO highlight crucial practice issues, including the need to objectively evaluate borrowers' credit, say attorneys at Arnold & Porter.

  • Bat's Newly Endangered Status Likely To Slow Development

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    A recent change in the classification of the northern long-eared bat from "threatened" to "endangered" could have significant effects on development in large portions of the Eastern and Southeastern U.S. — and in the absence of straightforward guidelines, developers will have to assess each project individually, says Peter McGrath at Moore & Van Allen.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Litigation Can Facilitate EB-5 Investor Visa Determinations

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    Processing times in the EB-5 investor visa program continue to rise, but filing a mandamus claim in the right venue against U.S. Citizenship and Immigration Services may offer applicants mired in delay a means to expedite processing, says Mark Stevens at Clark Hill.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • Regulators Must Get Creative To Keep Groundwater Flowing

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    Even as populations have boomed in Sun Belt states like Arizona, California and Texas, groundwater levels have diminished due to drought and overuse — so regulators must explore options including pumping limits, groundwater replenishment and wastewater reuse to ensure future supplies for residential and commercial needs, says Jeffrey Davis at Integral Consulting.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Best Practices For Lenders To Limit Recourse Liability

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    As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.