Commercial

  • June 24, 2024

    Nev. Restaurant Co.'s COVID Suit Is Kept Alive

    A group of insurers can't avoid a restaurant holding company's bid for coverage of COVID-19-related losses, a Nevada state court ruled, finding that the state supreme court's ruling on the subject didn't control the action because of an infectious disease endorsement in the company's policies.

  • June 24, 2024

    Ill. Landowners Challenge FERC Moves On $7B Power Line

    Illinois residents, farmers and landowners launched a fresh challenge to the $7 billion Grain Belt Express high-voltage power line, telling the D.C. Circuit that when the Federal Energy Regulatory Commission approved an amended negotiated rate authority, it ignored clean energy giant Invenergy's unsanctioned purchase of the project in 2020.

  • June 24, 2024

    La. To Provide Sales Tax Rebates For Data Center Purchases

    Louisiana will provide state and local sales and use tax rebates for taxes paid on the lease or purchase of eligible data center equipment and the development, acquisition or repair of qualified data centers under a bill signed by the governor.

  • June 24, 2024

    Ex-Chicago Alderman Gets Two Years For Boosting Law Firm

    An Illinois federal judge on Monday sentenced former Chicago Alderman Ed Burke to two years in prison and fined him $2 million for using his official position to steer tax business to his personal law firm, closing what prosecutors called "another sordid chapter" in the city's history of public corruption.

  • June 24, 2024

    IRS Finalizes Limits To Partnership Conservation Easements

    The Internal Revenue Service finalized rules Monday that curb the conservation easement tax deduction claimed by certain partnerships, with some changes to last year's proposed version, such as limiting the opportunity for entities to adjust their tax returns to avoid the new restrictions.

  • June 24, 2024

    Real Estate Co. Fights Back Against $315M Loan Default Suit

    An RXR entity mostly denied loan default claims lodged in New York federal court by Massachusetts Mutual Life Insurance Co., which sued to foreclose on a midtown Manhattan building after the maturity date on a $315 million loan passed with the debt unpaid.

  • June 24, 2024

    NYC Real Estate Week In Review

    DGW Kramer and Chaves Perlowitz were among the law firms that guided the largest New York City real estate deals that hit public records last week, a busy period that saw eight transactions north of $20 million become public.

  • June 24, 2024

    Red Roof Ignored Years Of Trafficking, Victim Tells Ga. Jurors

    The corporate owners of two metro Atlanta Red Roof Inn locations knew about and ignored trafficking at the hotels, a woman who said she had been trafficked at the two hotels and others in the surrounding area for six years told Georgia federal jurors Monday.

  • June 24, 2024

    Morris Manning Elevates Tech Team Leader To Co-Chair

    Morris Manning & Martin LLP has appointed its corporate technology practice founder and leader as the firm's co-chairman, turning to a longtime Atlanta-based partner who has led the practice in closing more than 950 venture capital, growth equity and merger and acquisition deals in the past three years, the firm announced Monday.

  • June 24, 2024

    JV's Self-Storage Portfolio Nets $185M Loan

    Global alternative investment firm Värde Partners provided $185 million in refinancing for a joint venture's portfolio that comprises 20 Class A self-storage facilities, the firm said on Monday.

  • June 24, 2024

    NM Sued Over Sustainable Building Credit Award Process

    A New Mexico apartment complex alleges that the state violated its due process rights after it was denied sustainable building tax credits for most of its units, according to a complaint filed in federal court.

  • June 21, 2024

    Financial Advice Guru Says Timeshare Suit Must Be Arbitrated

    A famous financial advice guru and his company have urged a Washington federal court to pause a proposed timeshare exit fraud class action and send it into arbitration, arguing that several of the named plaintiffs signed related agreements that include arbitration clauses.

  • June 21, 2024

    Feds, Enviros Spar Over Power Line Crossing Through Refuge

    The federal government and sparring environmental groups both called on a Wisconsin federal court to grant them judgment in litigation seeking to upend a land exchange that would allow a high-voltage transmission line to cross part of the Upper Mississippi River National Wildlife and Fish Refuge.

  • June 21, 2024

    Property Plays: The Mark Hotel, Oak Row, Bain Capital

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • June 21, 2024

    Texas Plans $185M Alamo Visitor Center Project

    Texas will spend an estimated $185 million to build the Alamo Visitor Center and Museum, according to the official website of the state's Department of Licensing and Regulation.

  • June 21, 2024

    Weil Advises Carlyle's $160M NYC UN Plaza Condo Financing

    Private equity firm Carlyle Group has amended a $160 million mortgage through asset management company AllianceBernstein for an office condominium building in New York City's United Nations Plaza, with help from Weil Gotshal & Manges LLP, according to property records.

  • June 21, 2024

    GSA To Invest $80M In Efficiency Tech For Federal Buildings

    The General Services Administration plans to spend $80 million bringing new sensors and meters into federal buildings to monitor energy efficiency and air quality, a move the agency says will help it reduce gas emissions.

  • June 21, 2024

    Apple Hospitality REIT Snags Wisconsin Hotel For $79.5M

    Apple Hospitality REIT has picked up a Madison, Wisconsin, hotel for $79.5 million, the Virginia-based real estate investment trust announced Friday.

  • June 21, 2024

    Texas OKs $1.5B For 7 New Psychiatric Hospital Projects

    The Lone Star State is planning seven psychiatric hospital projects that will be funded by $1.5 billion authorized by Texas Gov. Greg Abbott and state lawmakers in 2023.

  • June 21, 2024

    Scarinci Hollenbeck Adds 6 Real Estate Attys In NJ

    Corporate and commercial law firm Scarinci Hollenbeck LLC has hired six real estate attorneys for its New Jersey offices in Little Falls and Red Bank, the firm said Thursday.

  • June 21, 2024

    Settlement Ends Amazon Warehouse Construction Fight

    A settlement has resolved a dispute between an electric subcontractor and a construction company over the delayed building of an Amazon warehouse in south Georgia, according to a joint motion to dismiss filed Thursday in federal court.

  • June 20, 2024

    Trump Calls For Engoron's Recusal In Civil Fraud Case

    Former President Donald Trump and other defendants fighting a $465 million civil fraud judgment called on New York Supreme Court Justice Arthur Engoron to recuse himself Thursday in light of a once-suspended real estate attorney's recent judicial misconduct claims, which have since sparked a judicial investigation.

  • June 20, 2024

    Ford Battery Factory Challenge Unplugged By Mich. Panel

    Michigan appellate judges affirmed the dismissal of a lawsuit seeking to block Ford Motor Co.'s plans to build an electric vehicle battery plant in the state, finding the factory's opponents weren't entitled to a citywide vote on the rezoning of the plant site.

  • June 20, 2024

    Ore. Water Treatment Plant Not On Farmland, Tax Court Says

    Portions of farmland used for a wastewater treatment facility were correctly denied a special farm-use assessment rate, the Oregon Tax Court said, allowing the special rate for other contested areas of the property.

  • June 20, 2024

    Meet The Bridgegate Atty For NJ Power Broker In RICO Case

    Law360 Pulse caught up with Michael Critchley Sr., counsel for recently indicted New Jersey Democratic power broker George E. Norcross III, and lawyers who know him about his decadeslong track record of successful legal defenses in high-profile cases and how he’s preparing for his latest challenge.

Expert Analysis

  • Sale-Leasebacks May Provide A Safe Financing Alternative

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    Amid rising interest rates and unpredictable market conditions, sale-leasebacks can be a useful investment option for both buyers and sellers, though their potential drawbacks demand careful consideration, says Chanel Di Blasi at Crosbie Gliner.

  • 5 Recent Developments Family Offices Are Watching In 2024

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    Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.

  • A Challenging CRE Environment Holds Opportunities In 2024

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    As the commercial real estate market faces reduced occupancy levels and rising financing costs, the new landscape will be favorable to those who can leverage capital, strategic vision and expertise to meet challenges like taking on distressed properties and converting office space to residential use, say Nesa Amamoo and Vered Rabia at Skadden.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • 3 Developments That Will Affect Hospitality Companies In 2024

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    As the hospitality industry continues its post-pandemic recovery, it faces both challenges and opportunities to thrive in 2024, including navigating new labor rules, developing branded residential living spaces and cautiously embracing artificial intelligence, says Lauren Stewart at Sheppard Mullin.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • The 4 Top Philadelphia Commerce Court Opinions Of 2023

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    Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • 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.