Commercial

  • May 29, 2024

    NC State Is Blocking Probe Of PCBs In Building, Court Told

    North Carolina State University is trying to exploit the judicial process in order to destroy evidence of building contamination, a cancer-stricken professor told a state appeals court Tuesday in a bid to advance plans for a carcinogen inspection.

  • May 29, 2024

    CBRE Wants Would-Be Property Buyer's Suit Trimmed

    CBRE Inc. urged an Iowa federal court to toss a professional negligence claim in a real estate investment firm's $10.3 million suit over a failed Iowa property deal, arguing that, as a real estate brokerage, it wasn't obligated to tell the firm about a competing buyer.

  • May 29, 2024

    Tremont Chicago Hotel Reaches Agreement With Lender

    A defunct hotel near Chicago's commercial center has reached an agreement with its senior secured creditor, resolving its request to dismiss the case or lift the Chapter 11 automatic stay while reserving the right to revisit the stay under some circumstances.

  • May 29, 2024

    2nd Circ. Judge Weighs Sanctioning NYC In Rent Law Case

    A Second Circuit judge on Wednesday pressed an attorney for New York City on why the city should not be sanctioned for bringing up a jurisdictional challenge to a landlord's suit over a pandemic-era guaranty law at the "11th hour" of proceedings, after the city had lost in previous rulings.

  • May 29, 2024

    MicroEra Power Plots New Phase For Thermal Energy Storage

    As buildings are increasingly powered by renewable energy, Rochester, New York-based MicroEra Power is working on a thermal storage solution that it says offers many advantages over current lithium batteries. Here's a look at this property technology company's vision, its progress so far and what its leaders see ahead.

  • May 29, 2024

    Gibson Dunn, Cleary Advise $120M Luxury Retail Buy

    A Florida real estate investment firm has closed on $120 million in financing for its discount acquisition of a luxury retail building at 680 Madison Ave. in New York, in a transaction advised by Gibson Dunn & Crutcher LLP and Cleary Gottlieb Steen & Hamilton LLP.

  • May 29, 2024

    3 Firms Guide Blackstone's $768M Hawaii Resort Deal

    Simpson Thacher & Bartlett LLP, Arnold & Porter Kaye Scholer LLP and Cades Schutte LLP guided Blackstone Real Estate's $725 million sale of a Hawaii resort and the simultaneous $43 million sale of an adjacent 65-acre parcel, according to a statement from the seller Wednesday.

  • May 29, 2024

    Law Firm Says Atty Can't Elude Malpractice Claims In RE Case

    Chaitman LLP has urged a New Jersey state court to preserve its malpractice claims against a suspended solo attorney, arguing that discovery so far has shown that the attorney was deeply involved in guiding a case that ended in failure for its clients and exposed Chaitman to its own malpractice suit.

  • May 29, 2024

    8th Circ. Backs Ark. Landowners' Jury Win In Flooding Suit

    The Eighth Circuit has upheld a group of Arkansas landowners' nearly $350,000 jury win in their lawsuit accusing Lawrence County of building a bridge that caused flooding that damaged their crops.

  • May 29, 2024

    Ross Stores Plans $450M Distribution Center In NC

    Retail chain Ross Stores Inc. will invest $450 million to build a regional distribution center in North Carolina's Randolph County that's expected to be partially funded by a local grant, according to an announcement from the state's Gov. Roy Cooper.

  • May 29, 2024

    NYC Real Estate Week In Review

    Kriss & Feuerstein and BakerHostetler were among the law firms that guided the largest New York City real estate deals that hit public records last week, a slow period that saw only four transactions at or above $15 million.

  • May 29, 2024

    Ind. Tax Court Says Hotel In Construction Was Fairly Assessed

    An Indiana hotel that was under construction in 2010 was properly assessed despite claims that the county assessor had not assessed all unfinished commercial properties equally, the state tax court ruled.

  • May 29, 2024

    Walker & Dunlop GC Departs As Deputy Fills Shoes For Now

    The longtime top attorney for commercial real estate finance and advisory services firm Walker & Dunlop Inc. has left the company after nearly 14 years, and Walker & Dunlop's deputy general counsel is taking over in the interim.

  • May 29, 2024

    Greenberg Traurig Gets 30-Year Tax Break From Saudi Arabia

    Greenberg Traurig LLP is among the first law firms to get licensed as a regional headquarters, or RHQ, company in Saudi Arabia, allowing the firm to take advantage of a major tax break, the firm announced Tuesday.

  • May 29, 2024

    Grocery Exec Ends Claims Over $20M Meant For New Stores

    With a trial set for August, an investor has settled a federal court lawsuit accusing the president of North Carolina-based grocery chain Earth Fare of boosting his own personal wealth with $20 million intended to develop new stores.

  • May 28, 2024

    Chancery Finds Ex-CEO Owed $79M For Share Lockup Losses

    The former CEO of a 3D building imaging company is owed more than $79 million in damages in his share value suit against the company, but not the more than $141 million he sought, the Delaware Chancery Court ruled Tuesday.

  • May 28, 2024

    Seattle Landlord Affiliates Fight To Skip $6.8M Renovation Suit

    Three entities tied to Martin Selig Real Estate have asked a Washington state court to drop them from a tenant's $6.8 million lawsuit alleging they are on the hook for a fourth affiliate's contractual obligation to shoulder contractor fees, arguing the plaintiff mischaracterized their corporate structure.

  • May 28, 2024

    Goldman Family Battles Over Evidence In Property Biz Suit

    Relatives of Jane Goldman, an heiress of Sol Goldman's New York City property empire, argued that a contract she has said establishes her authority over the family's real estate business is of "dubious origin."

  • May 28, 2024

    Tribe Says Enbridge's Trespass Concern Wasted Court's Time

    A Wisconsin tribe has told the Seventh Circuit that Enbridge Energy wasted the court's time raising concerns that an old tribal trespass ordinance could cost the company millions in fines, saying it has nothing to do with the tribe's attempts to stop the Line 5 pipeline.

  • May 28, 2024

    Apartment Co. Says Insurer Owes Millions For Hail Damage

    The owners of an apartment building blamed an insurer for breaching its contract in Kansas federal court Tuesday, alleging the carrier failed to cover over $13 million in wind, hail and water damages and underestimated the loss despite clear evidence.

  • May 28, 2024

    Jones Day, King & Spalding Rep Blackstone, Bank's $1B Deal

    Blackstone has bought a $1 billion senior mortgage loan portfolio from Deutsche Pfandbriefbank after the German bank revealed plans to offload it, with the all-cash transaction shaped by Jones Day and King & Spalding LLP. 

  • May 28, 2024

    Simpson Thacher Hires US Treasury Alum From Blackstone

    An experienced fund transactions attorney has moved from an in-house role at Blackstone to private practice at Simpson Thacher & Bartlett LLP, the firm said Tuesday.

  • May 28, 2024

    Texas Real Estate Investment Manager Closes $1.6B Fund

    Pennybacker, an Austin, Texas-based investment manager, closed its latest fund for opportunistic investments in real estate at $1.6 billion, exceeding the vehicle's target, according to an announcement Tuesday.

  • May 28, 2024

    Colo. Creates Tax Credits For Agricultural Stewardship

    Colorado farms and ranches that use certain agricultural stewardship practices will be eligible for tax credits of up to $300,000 under legislation signed into law by Gov. Jared Polis.

  • May 24, 2024

    Lender Says Ch. 11 Triggers Payment Obligation for NYC Lofts

    A lender filed suit against Rudy Gabsi, CEO of Israeli investment firm Leny Group, alleging Gabsi is on the hook for $82 million after a borrower tied to the firm thwarted a foreclosure sale involving New York City properties by filing for Chapter 11 bankruptcy protections.

Expert Analysis

  • Tips For Advising CRE Owners Affected By Houston Storms

    Author Photo

    As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.

  • Playing Music Makes Me A Better Lawyer

    Author Photo

    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Real Estate Cos. Can Protect Their IP In The Metaverse

    Author Photo

    The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.

  • Ga. Law Creates Challenges For Foreign Ownership Of Land

    Author Photo

    Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.

  • Questions Remain After Mass. Adverse Possession Case

    Author Photo

    A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.

  • 4 Takeaways From Biden's Crypto Mining Divestment Order

    Author Photo

    A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.

  • Insurer Quota-Sharing Lessons From $112M Bad Faith Verdict

    Author Photo

    In Indiana GRQ v. American Guarantee and Liability Insurance, an Indiana federal jury recently issued a landmark $112 million bad faith verdict, illustrating why insurers must understand the interplay between bad faith law and quota-sharing before entering into these relatively new arrangements, say Jason Reichlyn and Christopher Sakauye at Dykema. 

  • Teaching Yoga Makes Me A Better Lawyer

    Author Photo

    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Look At New IRS Rules For Domestically Controlled REITs

    Author Photo

    The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.

  • How New Rule Would Change CFIUS Enforcement Powers

    Author Photo

    Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.

  • Swimming Makes Me A Better Lawyer

    Author Photo

    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • 2nd Circ. Eminent Domain Ruling Empowers Municipalities

    Author Photo

    The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.

  • SEC Should Be Allowed To Equip Investors With Climate Info

    Author Photo

    The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.