Commercial

  • February 07, 2024

    Ill. Atty's Conviction Over Embezzlement Scheme Sticks

    A former attorney who cried "wolf" over the government preventing him from adequately preparing for trial cannot unwind his conviction for misappropriating a now-shuttered bank's embezzled funds and lying about his assets, an Illinois federal judge ruled Tuesday.

  • February 07, 2024

    Lender Says Nursing Facilities Owner Owes $5.5M On HUD Loans

    A lender has accused the owner and operator of two Illinois skilled nursing facilities of owing more than $5.5 million after defaulting on loans insured by the U.S. Department of Housing and Urban Development.

  • February 07, 2024

    Panel Says Ohio Broke Promise In Brewery District Land Fight

    The Ohio appeals court ruled against the Buckeye State's transportation officials in a battle with Columbus business owners over property the state needed for a highway project, finding that the state agency's counsel acknowledged it did not deliver what it promised in a previous settlement.

  • February 07, 2024

    US Eyes Requiring Reports On All-Cash Real Estate Transfers

    Professionals involved in real estate transfers in the U.S. would be required to report on the beneficial owners of trusts and other legal entities that receive residential property in any all-cash transactions under draft regulations released Wednesday that aim to tackle tax evasion and corruption.

  • February 07, 2024

    REIT Raises $672M IPO At Low End While Insurer Pulls Plans

    Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery.

  • February 07, 2024

    New York Community Bank Losses Could Presage More Pain

    Looming debt maturities and diminishing property values have put New York Community Bank in a bind that will likely play out on a bigger scale among regional banks with commercial real estate exposure, especially those in the Big Apple, according to analysts and legal experts.

  • February 07, 2024

    Mass. Atty Gets 2 Years For 'Corruptly' Pushing Pot Bribe Plot

    A former Massachusetts attorney "violated his oath corruptly" by bribing a police chief with payments to his brother to win a local marijuana license for a client, a federal judge said Wednesday as he handed down a two-year prison term.

  • February 07, 2024

    Brookfield Says It Plans To Weather Wave Of CRE Woes

    The president of Brookfield Asset Management projected confidence on Wednesday that the Canadian firm will "ride through" the distress facing some parts of the commercial property market, as the company announced its latest real estate fund is on track to meet expectations.

  • February 07, 2024

    Student Housing JV Nabs $380M Refi From Walker & Dunlop

    A joint venture between a student housing community owner and two other investors secured a $380 million credit facility from Walker & Dunlop Inc., funding that will refinance 11 student housing properties, the lender said Wednesday.

  • February 07, 2024

    Mass. Residents Want High Court To Undo Tribe's Land Grant

    A group of Massachusetts residents are asking the U.S. Supreme Court to reverse a ruling that allowed the U.S. Department of the Interior to take 321 acres into trust for the development of a billion-dollar tribal hotel and casino, arguing that a lower court ignored precedent in determining that the Mashpee Wampanoag Tribe is under federal jurisdiction.

  • February 07, 2024

    Nelson Mullins Names New Leader For Boca Raton, Fla., Office

    Nelson Mullins Riley & Scarborough LLP has selected its Florida real estate team leader to serve as the new managing partner of the firm's Boca Raton office.

  • February 07, 2024

    Troubled Office Market Caused Q4 Income Slide For KKR

    KKR Real Estate Finance Trust said in an earnings call Wednesday that it had to acquire a small but significant number of properties whose owners stopped making loan payments, leading to an $18.7 million net loss in the fourth quarter.

  • February 07, 2024

    NJ Industrial Leasing Saw Major Bump In Q4 Of 2023

    New Jersey's industrial market saw significant increases in leasing but also saw decreases in average asking rent and net absorption in the fourth quarter of 2023, according to a recent Colliers report.

  • February 07, 2024

    Dentons Adds Ex-Hospitality Company Atty From Frost Brown

    Dentons has hired as a partner for its Louisville, Kentucky, office a former in-house attorney at Schulte Hospitality Group who also previously spent two stints at national firm Frost Brown Todd LLP.

  • February 06, 2024

    Church Urges 5th Circ. To Affirm $2M Hurricane Coverage Win

    Church Mutual Insurance Co. may not like the $2 million judgment a Louisiana federal judge handed down over unpaid hurricane damages, but there's no ground to disturb the award, the First United Pentecostal Church in DeQuincy has told the Fifth Circuit.

  • February 06, 2024

    Investment Report Shows Cost Of Delaying Climate Action

    Insurers could face billions of dollars in losses if they continue with their current courses of investments that contribute to climate change, according to a new analysis by insurance regulators from California, Oregon and Washington.

  • February 06, 2024

    Mast Capital Snags $600M Construction Loan For Miami Tower

    Florida real estate development and investment firm Mast Capital said Tuesday it has secured a $600 million loan for the construction of Cipriani Residences Miami, a condominium tower to be built in the city's Brickell neighborhood.

  • February 06, 2024

    NY Court Upholds Deals On Acis Loan Obligations

    A New York federal court refused to invalidate two agreements reached between Acis Capital Management and a related entity governing liquidation of collateralized loan obligations, despite a minority investor's claims the deals withheld millions the investor is owed.

  • February 06, 2024

    Lessons For Neumann As He Tries To Reconquer WeWork

    Adam Neumann's new real estate company Flow is reportedly seeking to buy the bankrupt WeWork, and experts say that despite Neumann's extensive knowledge of the company he founded and was later ousted from, there are numerous pitfalls he should avoid and strategies he should keep in mind.

  • February 06, 2024

    SEC Investigates REIT Battling With Its Ex-Chair

    A Texas real estate investment trust involved in lawsuits with its former board chairman and chief executive officer over alleged financial misdeeds and election shenanigans said the U.S. Securities and Exchange Commission is investigating the company.

  • February 06, 2024

    Backend Tax Credit Boosts NY Brownfield Redevelopments

    New York's use of a backend tax credit for brownfield remediation and redevelopment helps push projects across the finish line, incentivizing developers to pursue and quickly finish projects addressing contamination throughout the state.

  • February 06, 2024

    Stoel Rives Adds New Real Estate Partner In San Diego

    Stoel Rives LLP hired a former Finch Thornton & Baird LLP partner as a new partner for its real estate practice in San Diego, the firm announced.

  • February 06, 2024

    Landfill Odor Claims Did Not Die With Plaintiffs, Judge Rules

    Surviving family members can continue with claims against three landfill companies they say are responsible for impacting their relatives' quality of life, a Louisiana federal judge ruled, while dropping three claimants from the case.

  • February 06, 2024

    Real Estate Rumors: Valley National, Carlyle, Peachtree

    Valley National Bank is said to have loaned $21.3 million for a self-storage project in Florida, a Carlyle Group venture has reportedly paid $265 million for a Manhattan luxury rental tower and Peachtree Group has reportedly loaned $34.5 million for a student housing complex in Florida.

  • February 06, 2024

    Builders Ask Judge To Rethink Monetary Relief For Fees Suit

    Builders urged a Florida state judge to reconsider two "'overarching'" rulings that they claim denied monetary relief for their proposed class action against the city of Miami over allegedly illegal building permit and inspection fees.

Expert Analysis

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Shifts In The CRE Landscape Demand Creative Loan Solutions

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    An increase in commercial real estate loan workouts makes it critical for borrowers, lenders and other CRE participants to examine all the available options and remedies, including mortgage and mezzanine foreclosures, bankruptcy filings and property short sales, say attorneys at Goulston & Storrs.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • A Smoother Process For CRE Receiverships In Conn.

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    A newly effective Connecticut law concerning distressed commercial real estate provides a number of opportunities and strategic considerations for creditors, and should be watched even by counsel in other states as adoption of the law could become more widespread, say John Loughnane and Steven Coury at White and Williams.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.

  • CRE Guidance Helps Lenders Work With Struggling Borrowers

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    In recognition of growing troubles with commercial real estate loans, four federal regulators' recently updated loan accommodations guidance provides a helpful framework for approaching loan workouts without the punitive results of adverse classifications, say Jaclyn Grodin and Muryum Khalid at Goulston & Storrs.

  • NYC Cannabis Landlord Accountability Law Has Limitations

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    A recently passed bill in New York City, aiming to crack down on the illegal cannabis market by levying fines against landlords who knowingly lease to unlicensed sellers, contains loopholes that may potentially limit the bill’s impact and lead to unintended consequences, say attorneys at Falcon Rappaport.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Hedging Variable Interest Rates In A Volatile Market

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    Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.

  • Parsing FTC's Intercontinental-Black Knight Merger Challenge

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    The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Effectual Relief Questions Linger After Section 363 Ruling

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    In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.