Commercial

  • February 13, 2024

    Wyndham Gets Default Win In Timeshare Exit Suit

    A Florida federal judge has granted Wyndham Vacation Ownership Inc. a default victory in its lawsuit accusing multiple companies of levying unnecessary fees to help customers exit their timeshares, after adopting a magistrate's report and recommendation when one company failed to respond.

  • February 13, 2024

    Soroc Tech Sues In Del. For $115M Merger Takeback

    Soroc Technology Holdings LLC sued MainOne Technology Solutions LLC on Tuesday in Delaware's Court of Chancery, seeking recovery of the $115 million it paid in early 2022 for its acquisition of MainOne's interest in DecisionOne Corp.

  • February 13, 2024

    Squabble Heats Up Over Plans To Move DC NBA, NHL Teams

    Billionaire Ted Leonsis' efforts to dislodge his sports teams Washington Wizards and Washington Capitals from the District of Columbia, and put down stakes in Virginia have run into resistance, including from a Virginia state senator and the mayor of Washington, D.C.

  • February 13, 2024

    KC Royals Pitch Taxpayers On $2B Downtown Ballpark Project

    The Kansas City Royals rolled out plans Tuesday to build a $2 billion ballpark and entertainment district on a downtown site as voters consider a tax on an April ballot measure that would support the project and a renovated Arrowhead Stadium.

  • February 13, 2024

    Calif. Clean Energy Storage Secures $350M From Blackstone

    Arevon Energy Inc. said Tuesday that it closed on financing for a California renewable energy storage facility, including $350 million from a Blackstone unit in the form of preferred equity, with guidance from three law firms.

  • February 13, 2024

    11th Circ. Boots Insurer's Appraisal Order Challenge

    The Eleventh Circuit rejected a Zurich unit's bid to escape a Florida district court's order compelling it into appraisal proceedings with a Pensacola hotel owner, finding Tuesday the appellate court had no power to review a nonfinal order.

  • February 13, 2024

    4th Circuit Sinks Golf Course's Suit Over Rezoning Bid

    The owner of Hilton Head National Golf Club in South Carolina won't get a shot at developing a mixed-use project on its property after a panel of appeals judges agreed with a lower court's ruling that halted the project.

  • February 13, 2024

    Worst Likely Yet To Come For Distressed Office Market

    The rate of distress for office commercial mortgage-backed securities loans climbed back above 10% in January amid lingering demand and interest rate concerns, with experts expecting the situation to worsen later this year.

  • February 13, 2024

    Hotel Rental Co. Hid Litigation And Failed Deal, Suit Says

    Real estate company LuxUrban Hotels has been hit with a proposed class action alleging it lied about a 25-year deal with the Royalton Hotel in New York and multiple lawsuits over unpaid rent, which it says caused shares to decline after a short-seller report disclosed the issues.

  • February 13, 2024

    Feds Argue US Used Island With 'Intent' In Ownership Suit

    The United States filled in land off Key West, Florida, with a clear intention to use it for the U.S. Navy, entitling it to ownership of what is now Wisteria Island, the federal government said this week in its written closing arguments in a land dispute dating back more than 100 years.

  • February 13, 2024

    Mo. Senate Panel OKs Tax Credits For Office Conversions

    Missouri would allow property owners to claim tax credits to partly offset the cost of converting nonresidential property from office use to residential or other uses under a bill approved by the state Senate's Economic Development and Tax Policy Committee.

  • February 13, 2024

    Chicago Says Trade Groups Can't Stop Real Estate Tax Vote

    The city of Chicago asked a state court to toss a suit filed by a coalition seeking to block an upcoming referendum on whether the city should implement tiered rates for real estate transfer taxes, arguing that the court lacks jurisdiction to intervene in the legislative process.

  • February 13, 2024

    Real Estate Rumors: Ares Management, Somerset, MBS Group

    Ares Management has reportedly purchased a 14-building portfolio in New Jersey for $118.5 million, a Somerset Properties venture is said to have bought a North Carolina industrial building for $11 million, and MBS Group has reportedly leased 300,000 square feet in Queens.

  • February 13, 2024

    More Banks To Expound On CRE Risk At SEC's Behest

    Another batch of regional banks have agreed to disclose more information about risks within their commercial property loan portfolios in response to prodding by the U.S. Securities and Exchange Commission, signaling more difficulties lie ahead for small real estate lenders.

  • February 13, 2024

    Ex-Atty Appealing Pot Bribe Conviction Says Prison Can Wait

    A former Massachusetts attorney convicted over an alleged cannabis licensing quid pro quo told a Boston federal judge Tuesday that multiple close-call legal issues warrant a delay of his 24-month prison sentence until the First Circuit decides his forthcoming appeal.

  • February 13, 2024

    2 Ex-Dentons Real Estate Pros Join Clark Hill In Pittsburgh

    Clark Hill PLC has added two real estate attorneys with experience in commercial transactions to the real estate practice group in its Pittsburgh office, the firm announced Tuesday. 

  • February 13, 2024

    Catching Up With Delaware's Chancery Court

    A pizza chain, an energy company, a medical-device maker and a Manila casino were all hit with book-and-record demands last week in Delaware's Court of Chancery. A shoe company also walked away from a shareholder suit, two cryptocurrency companies tallied the costs of a broken merger, and three cigarette giants argued over Florida settlement payments.

  • February 13, 2024

    Seyfarth Adds Atlanta Community Leader, RE Atty From BCLP

    Seyfarth Shaw LLP announced Tuesday that it had hired a former chair of the Georgia Commission on Equal Opportunity's Board of Commissioners who was also a real estate partner from Bryan Cave Leighton Paisner in Atlanta.

  • February 13, 2024

    Marriott To Buy Chicago Sheraton In $500M Deal

    Marriott International said Tuesday that it will acquire the Sheraton Grand Chicago hotel for $500 million from Tishman Realty.

  • February 13, 2024

    Ex-Cushman Brokers Ordered To Return Confidential Info

    A New York federal judge ordered two former Cushman & Wakefield brokers facing a trade secrets suit to return the brokerage's confidential information, stop soliciting its employees and clients and to stop using its referral sources.

  • February 13, 2024

    Bourbon Co. Says Ky. City Caved To Whiskey Fungus Fear

    A bourbon-maker has sued the city of Williamstown, Kentucky, and its top officials in federal court after they backed out of a deal to help build a set of warehouses to age liquor in response to concerns from residents that ethanol from the facility could feed the spread of so-called whiskey fungus nearby.

  • February 13, 2024

    Insurer Says Fire Co. Owes $3.7M For Hotel Water Damage

    A fire protection and security services company must pay more than $3.7 million for water damage at an Ohio hotel, a Liberty Mutual unit told an Ohio federal court, arguing that the damage was caused by the company's negligence in maintaining a fire sprinkler system.

  • February 13, 2024

    'We Think It's Right,' Vornado CEO Says Of $6.4M Exec Payout

    Vornado Realty Trust's chief executive officer defended a $6.4 million bonus the company divided among top brass about a week before Christmas as "highly appropriate," even though the office landlord suspended its shareholder dividend last spring.

  • February 13, 2024

    EPA's Latest PFAS Action Leaves Unanswered Questions

    After the EPA proposed two new rules this month to regulate PFAS, questions still loom regarding how regulators and property owners are going to comprehensively address the widespread contaminants in a cost-effective way. Law360 spoke with the chair of Mintz's environmental practice about what next steps will be required to better address PFAS contamination.

  • February 13, 2024

    Arizona Lawmakers Sue Feds Over Grand Canyon Monument

    The top Republicans in the Arizona Legislature and the state treasurer are asking a federal court to overturn President Joe Biden's protection of nearly a million acres in northern Arizona, calling his creation of the Baaj Nwaavjo I'tah Kukveni-Ancestral Footprints of the Grand Canyon National Monument an "unlawful land grab."

Expert Analysis

  • What To Consider When Converting Calif. Offices To Housing

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    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • Ch. 12 Ruling Is A Helpful Addition To Interest Rate Case Law

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    In its recent In re: Topp ruling, the Eighth Circuit addressed the question of which rate of interest debtors should pay under a bankruptcy plan, showing that the choice of interest rate plan is a factual issue subject to appellate review for clear error, and not a legal issue subject to de novo review, says Donald Swanson at Koley Jessen.

  • Appellate Rulings Highlight Telecom Standard Uncertainties

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    Two recent contrasting appellate opinions in Cellco v. White Deer Township and NMSurf v. Webber — interpreting Sections 332 and 253 of the Communications Act, respectively — demonstrate the continuing uncertainty carriers face when challenging state and local requirements that may impede their provision of telecommunications services, say attorneys at Davis Wright.

  • 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.