Commercial

  • January 13, 2025

    Ind. Senate Bill Seeks To Cap Local Property Tax Hikes

    Indiana would not allow a political subdivision to increase its property tax levy if there is not an increase in the subdivision's assessed value under a bill introduced Monday in the state Senate.

  • January 13, 2025

    NYC Real Estate Week In Review

    Greenberg Traurig LLP and DLA Piper are among the law firms that handled the largest real estate deals to hit New York City public records last week, a period that saw a number of transactions that signed and closed near the year-end deadline become public.

  • January 13, 2025

    Ky. House Bill Seeks Referendum Toward Axing Property Tax

    Kentucky would put forward a referendum asking voters to give lawmakers the power to eliminate the state's property tax by exempting all property classes from tax under a bill introduced in the state House of Representatives.

  • January 13, 2025

    Tax-Lien Biz Atty Accused Of Duping Bank Can't Touch Money

    A Manhattan federal judge declined Monday to unfreeze assets on behalf of a former compliance lawyer accused of duping a bank into lending his tax-lien investment firm $20 million, complicating his plan to go to trial with private counsel.

  • January 13, 2025

    76ers Drop Controversial Plan For New Center City Arena

    The Philadelphia 76ers are going to stay in South Philly rather than pursuing a plan to move into a new stadium by Chinatown, according to announcements Monday from the City of Brotherly Love's mayor and the 76ers' owner.

  • January 13, 2025

    Proskauer Faces Revived DQ Bid In NJ Hospital Antitrust Fight

    CarePoint Health is once again pushing to have Proskauer Rose LLP disqualified as counsel for healthcare network RWJBarnabas Health Inc. in an antitrust lawsuit in New Jersey federal court, asserting that a magistrate judge erred in previously denying its request.

  • January 13, 2025

    Latham-Led StepStone Tops $1B For Infrastructure Fund

    Private markets investment firm StepStone Group Inc., advised by Latham & Watkins LLP, on Monday announced it had clinched its inaugural infrastructure co-investment fund and related separate accounts after securing more than $1.4 billion in capital commitments.

  • January 13, 2025

    Kramer Levin Elevates Partner To Land-Use Co-chair

    New York City law firm Kramer Levin Naftalis & Frankel LLP has promoted James P. Power to co-chair of its land use department. The leadership update comes at a time of dramatic changes to land use in New York City, and Power said he expects there to be a lot of development activity.

  • January 13, 2025

    Justices Won't Hear Farm's Bid To Retake Denver Airport Land

    The U.S. Supreme Court on Monday declined to hear a Colorado farm company's petition arguing Denver can't hold onto land originally seized for the Denver International Airport now that the city plans to build a private commercial complex on the property.

  • January 10, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    Solar power company iSun asked to switch its bankruptcy proceedings to a Chapter 7, after finding that it couldn't afford its Chapter 11 plan. Nash Engineering Co.'s Chapter 7 trustee asked a bankruptcy judge to sign off on a $9 million settlement with two insurers that had bought back their policies in 2020. And the Second Circuit put out the call for would-be bankruptcy judges to submit their applications to sit on the bench in Manhattan.

  • January 10, 2025

    Receiver Sought For Pittsburgh Landmark In $143M Default

    A group of lenders seeking to foreclose on part of Pittsburgh's Station Square development over a $143 million loan default wants a Pennsylvania state court to appoint a receiver to take over management and marketing of the properties, according to court filings.

  • January 10, 2025

    Property Plays: Palladius, Tishman Speyer, Stockdale

    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.

  • January 10, 2025

    LA Fire Insured Damages Could Top $20B, JP Morgan Says

    Insured losses from wildfires still blazing through Los Angeles could exceed $20 billion, J.P. Morgan analysts said in client notes, a steep increase from the more than $12 billion California insurers incurred from the next costliest spate of wildfires in 2018.

  • January 10, 2025

    Ferguson Braswell Adds 5-Atty Vogt Resnick Team In Calif.

    Ferguson Braswell Fraser Kubasta PC has grown its presence in Orange County, California, with the addition of five Vogt Resnick & Sherak LLP attorneys and a new office space.

  • January 10, 2025

    Sullivan & Cromwell, Dechert Ink Tower's $2.9B CMBS Refi

    Tishman Speyer landed a $2.85 billion commercial mortgage-backed securities loan refinancing the firm's New York City office tower known as The Spiral, in a deal guided by Sullivan & Cromwell LLP and Dechert LLP, per the borrower and Morningstar.

  • January 10, 2025

    Construction Exec Cops To Unlawfully Funding NYC Mayor

    A Turkish-born construction executive with ties to Eric Adams told a Manhattan federal judge Friday that he funneled unlawful donations to the New York City mayor's campaign, as prosecutors secured a guilty plea in their high-profile political corruption investigation.

  • January 10, 2025

    Stockdale Takes Out $164M Loan To Buy LA-Area Mall

    Stockdale Capital Partners took out a $164 million mortgage to fund its acquisition last month of The Oaks, a 1.2 million-square-foot Class A mall near Los Angeles.

  • January 10, 2025

    Potomac Law Group Adds Real Estate Leasing Atty In Seattle

    Potomac Law Group has continued a hiring spree that spilled over into the new year, hiring a Seattle-based partner who focuses her practice on retail leasing issues.

  • January 09, 2025

    Surprise NC Downzoning Ban Hamstrings Local Gov. Control

    An unassuming provision tacked onto the end of a hodgepodge year-end bill in North Carolina has had a chilling effect on real estate development across the state amid fears for its sweeping consequences.

  • January 09, 2025

    Steptoe & Johnson Boosts Dallas Headcount With 3 Attys

    Steptoe & Johnson PLLC boosted its Texas ranks Thursday with three seasoned attorneys who will bring in experience in mergers and acquisitions, lending, and commercial real estate, a move the firm claimed would help bolster its long term growth plan.

  • January 09, 2025

    AT&T Settles Suit Over Faux Pine Tree Antennas

    AT&T is dropping its suit against the city of Walla Walla, Washington, over a 65-foot-tall utility pole that was slated to look like a pine tree, agreeing to use a separate location just outside the city limits.

  • January 09, 2025

    JLL Lines Up $300M Luxury Nashville Hotel Refi

    A 21-story, 800-key downtown Nashville luxury hotel received $300 million in refinancing, in a deal set up and closed by JLL's Capital Markets team, the broker announced Jan. 9.

  • January 09, 2025

    Top Climate Stories For Insurance Attys To Watch In 2025

    Climate change is fueling a national insurance crisis that is threatening housing markets, municipal tax revenues and the ability to adapt to extreme weather events. Here, Law360 examines the top climate stories attorneys should watch in 2025.

  • January 09, 2025

    Md. House Bill Seeks Special Tax On Commercial Property

    Maryland would authorize local governments to establish a subclass of commercial and industrial property and impose a special tax on such property to fund transportation improvements and local education budgets as part of a bill introduced in the state House of Delegates.

  • January 09, 2025

    Ind. Senate Bill Would End Annual Assessment Adjustments

    Indiana would eliminate annual adjustments to the assessed value of some real property to reflect changing values under legislation introduced in the state Senate.

Expert Analysis

  • How Lease Obligations Can Affect Subchapter V Debt Cap

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    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • Trends That Will Shape The Construction Industry In 2024

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    Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Adjusting Deals To Reflect Shifts In The CRE Market

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    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.

  • 4 International Arbitration Trends To Monitor In 2024

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    Global growth slowed substantially in 2023, and may continue into 2024 due to geopolitical instability, which could fuel four key trends in international arbitration in the coming year, including investor-state and commercial arbitration, an increase in arbitration out of China, and more, say Gregory Litt and Sharmistha Chakrabarti at Skadden.

  • How DOI Aims To Modernize Resource Damage Assessments

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    The U.S. Department of the Interior's recent proposal to redesign its Type A rule for conducting natural resource damage assessment and restoration activities could lead to a more streamlined, flexible assessment process that would benefit both natural resource trustees and potentially responsible parties, says Brian Ferrasci-O'Malley at Nossaman.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.

  • The Year Ahead In Foreign Investment And National Security

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    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • 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.