Commercial

  • 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

    Latham & Watkins Advising $5B Beverly Hills 'Urban Resort'

    Construction is underway on One Beverly Hills, Cain International's 17.5-acre, $5 billion ultra luxury "urban resort," with Latham & Watkins advising the developer on transactions related to the project.

  • 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.

  • February 16, 2024

    Boston Backs Office And Lab Space In Fenway Neighborhood

    The Boston Planning and Development Agency board approved a new building in the Fenway neighborhood that will include 500,000 square feet of office and lab space.

  • February 16, 2024

    Ex-Jenner & Block Litigator Joins Holland & Knight In Chicago

    Holland & Knight LLP has brought on a longtime Jenner & Block LLP partner to bolster its litigation practice as a partner based in its Chicago office.

  • February 16, 2024

    Trump Owes $355M For Fraud That 'Shocks The Conscience'

    A New York state judge on Friday found Donald Trump, his adult sons, his companies and longtime executives liable for a decadelong valuation fraud conspiracy, ordering the defendants to disgorge $364 million in ill-gotten gains to the state, plus interest, with the former president on the hook for the lion's share.

  • February 16, 2024

    Cleary Gottlieb Guides Data Center Tenant's $2.3B Financing

    A tenant at a Chicago data center hub owned by Digital Realty Trust secured a $2.3 billion leasehold mortgage from Wells Fargo Bank NA, in a deal guided by Cleary Gottlieb Steen & Hamilton LLP.

  • February 15, 2024

    No Coverage For Pandemic Losses, NY Top Court Rules

    A Texas-based restaurant operator isn't entitled to insurance coverage for its pandemic losses, New York's top court ruled Thursday, saying the operator didn't allege the kind of physical loss or damage required for coverage.

  • February 15, 2024

    Judge Sides With Pittsburgh In $1M Zoning Dispute

    A Pennsylvania federal judge on Thursday said the statute of limitations bars a real estate developer from recovering just over $1 million it claims Pittsburgh's zoning board owes after a conflict of interest delayed its approval process to build out a mixed-use property for nearly two years.

  • February 15, 2024

    Conn. Justice Calls Marriott Lien Fight 'An Embarrassment'

    A "bizarre" appeal that seeks the discharge of a sewer assessment lien on a Marriott hotel property is "a waste of everybody's time," a Connecticut Supreme Court justice said Thursday amid oral argument.

  • February 15, 2024

    NJ Atty Beats Greater Damages Bid Over Hotel Project Loan

    A New Jersey attorney won't have to face an additional $9.5 million in damages in a suit over a mishandled escrow agreement related to the development of a luxury New Mexico hotel, a federal judge has ruled.

  • February 15, 2024

    Second Carrier Seeks To Toss Four Seasons Coverage Row

    A subcontractor's insurer joined another carrier in urging a New York federal court to dismiss a general contractor's lawsuit seeking coverage in a $1 million underlying action over damage to a Four Seasons hotel in midtown Manhattan, arguing that the faulty workmanship claims don't constitute an occurrence under its policy.

  • February 15, 2024

    Real Estate Rumors: Brause Realty, Microsoft, AcadeMir

    A Brause Realty venture has reportedly scored $75 million in financing for a New York mixed-use project, Microsoft is said to have paid roughly $17.7 million for nearly 300 acres in Minnesota, and AcadeMir Charter Schools has reportedly paid $16.6 million for a Florida property.

  • February 15, 2024

    Klein Joins Falcon Rappaport Real Estate Team

    Bruce S. Klein recently joined Falcon Rappaport & Berkman LLP in its New York City office as a partner, bringing more than 35 years of experience in real estate as well as corporate law and mergers and acquisitions.

  • February 15, 2024

    Vaughan Baio Adds 3 Partners And 2 Offices In NY, NJ

    Philadelphia-based midsized firm Vaughan Baio & Partners expanded its footprint and resources this month with the addition of three partners and the opening of two offices in New York and New Jersey.

  • February 15, 2024

    Equinix Sees Robust Demand For Cloud Infrastructure In '24

    Data center real estate investment trust Equinix Inc. said in its fourth-quarter report that it expects demand for cloud infrastructure to remain strong this year, as it reported adjusted funds from operations of $3 billion in 2023, an 11% increase from a year ago.

  • February 15, 2024

    Zurich Owes $554K Over Faulty Construction Work, Erie Says

    Erie Insurance Co. told a D.C. federal court Thursday that a Zurich unit wrongly denied coverage to Erie-insured subcontractors for over $554,000 in damage stemming from faulty work at a government agency renovation project, arguing Zurich has cited the wrong coverage form to deny liability.

Expert Analysis

  • 5 Traps To Avoid When Selling CRE In Las Vegas Area

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    When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.

  • 'Brownfields' Definition Key To Energy Community Tax Credits

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    As the IRS rolls out guidance for claiming community energy tax credits under the Inflation Reduction Act, a review of the long-standing statutory definition of "brownfields" reveals that it continues to serve the goal of creating opportunities for investment in abandoned properties, says Louise Dyble at Sheppard Mullin.

  • Why Courts Are Nixing Insurer Defense Recoupment Claims

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    Following a recent trend, the Hawaii Supreme Court's decision in St. Paul Fire & Marine Insurance Co. v. Bodell Construction Co. provides a concise explanation of the argument that an insurer generally may not recoup costs for defending claims, based on three considerations, says Bradley Nash at Hoguet Newman.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

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    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Trump NY Fraud Trial Shows Civil, Criminal Case Differences

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    Former President Donald Trump’s civil fraud trial currently unfolding in New York provides a reminder that civil bench trials can be just as damaging, if not more so, than criminal prosecutions, due to several key elements of civil litigation procedure, says retired attorney David Moskowitz.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.

  • Crypto Has Democratized Trading In Bankruptcy Claims

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    Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.

  • Paths Forward For RE Buyers In Turbulent Market Conditions

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    Real estate borrowers are facing significant challenges in financing new acquisitions or developments amid escalating interest rates, but opportunistic debt funds may be able to help bridge through the present environment, say Jon Gallant and Jared Hodges at Knowles Gallant.

  • DC Ruling Provides Support For Builders Risk Claim Recovery

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    To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.

  • What NJ's Green Remediation Guidance Means For Cleanups

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    Recent guidance from the New Jersey Department of Environmental Protection promoting greener approaches to restoring contaminated sites demonstrates the state's commitment to sustainability and environmental justice — but could also entail more complexity, higher costs and longer remediation timelines, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.

  • Inside Bank Regulators' Community Lending Law Overhaul

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    The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.

  • Sellers Seeking Best Deal Should Focus On Terms And Price

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    Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.

  • Illinois Trump Tower Ruling Illuminates Insurance 'Occurrence'

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    In Continental Casualty v. 401 North Wabash Venture, an Illinois appellate court found that Trump Tower was not entitled to insurance coverage for operating its HVAC system without a permit, helping to further define a widely litigated general liability insurance issue — what constitutes an "occurrence," say Robert Tugander and Greg Mann at Rivkin Radler.