Commercial

  • December 06, 2024

    $29.75M Deal Proposed To End Del. Latch Inc. SPAC Suit

    Attorneys for investors who bought into Latch Inc.'s Tishman Speyer-led, $1.5 billion take-public deal only to see their shares nosedive have tentatively settled consolidated class damage claims for $29.75 million, according to a Delaware Court of Chancery filing.

  • December 06, 2024

    Huizar's Big Brother Avoids Jail In LA City Hall Bribery Case

    The older brother of former Los Angeles City Councilor José Huizar on Friday avoided prison for lying to investigators about his role laundering bribes for the disgraced politician, with a California federal judge crediting the defendant's cooperation after he "finally decided to tell the truth."

  • December 06, 2024

    Fox Rothschild Can't Escape Malpractice Suit Over Land Row

    A New Jersey judge on Friday denied Fox Rothschild LLP's bid to exit a malpractice suit in which two sisters alleged that a lawyer now at the firm bungled a 1984 property deed and 1993 trust belonging to their late stepfather, depriving them of a lucrative land parcel, reasoning that disputed facts keep the suit alive.

  • December 06, 2024

    DC Circ. Won't Revisit Retroactive FARA Registration

    The D.C. Circuit rejected a bid asking the en banc court to reconsider a panel ruling that bars the federal government from suing to compel former foreign agents to retroactively register their onetime foreign influence.

  • December 06, 2024

    Offit Kurman Adds Lanak & Hanna Environmental Atty In LA

    Offit Kurman Attorneys At Law continues expanding its two-year-old Los Angeles office, announcing Thursday it is bringing in a Lanak & Hanna PC construction, environmental and real estate litigator as a principal.

  • December 05, 2024

    2 Firms Guide Ground Lease For $780M NYC Soccer Stadium

    A New York professional soccer team began construction on its $780 million, 500,000-square-foot Queens stadium and secured a 49-year ground lease, in a deal guided by Venable LLP and Paul Hastings LLP, according to several official announcements.

  • December 05, 2024

    Macy's, Bank And Parking Garage Settle $2.7M Repair Fight

    Macy's Retail Holdings has resolved litigation against it by a bank and a parking lot operator over $2.7 million in repairs and maintenance fees needed at a nearby parking garage, according to a Thursday court filing.

  • December 05, 2024

    GSA To Sell 8 Federal Buildings, Saving Up To $475M

    The U.S. General Services Administration has announced plans to offload eight federally owned properties, a move that could potentially save the federal government $475 million over 10 years.

  • December 05, 2024

    Ariz. Parcel's Improvements Have No Value, Tax Court Says

    The improvements to an industrial parcel in Arizona have no value, the state tax court ruled, agreeing with the owner that a county assessor's valuation of the property was excessive.

  • December 04, 2024

    RXR Realty Faces Foreclosure Suit On $670M NYC Office Loan

    A lender has moved to foreclose on a $670 million Manhattan office loan, more than a year after borrower RXR Realty defaulted on the loan following a major tenant's decision not to renew a lease at the property, per a filing in New York state court.

  • December 04, 2024

    Lowenstein Sandler Adds Real Estate, Capital Markets Attys

    Lowenstein Sandler LLP has hired partners for its business litigation and capital markets and securities teams in New York City, the firm announced Wednesday.

  • December 04, 2024

    Valley Sells $925M In Loans As Banks Shed CRE Loans

    Lenders, especially banks under pressure from regulators, are now taking big steps to distance themselves from commercial real estate. Those strategies include selling even performing loan portfolios at a discount, as well as starting foreclosures to draw buyers.

  • December 04, 2024

    Treasury Finalizes Broad Energy Investment Tax Credit Regs

    The U.S. Treasury Department released final regulations Wednesday for the clean energy investment tax credit, which includes notable changes to the proposed energy property definition to include functional components in calculating the incentive's value, such as a biogas facility's upgrading equipment.

  • December 04, 2024

    Real Estate Pro Joins Flaster Greenberg In Philly

    An attorney with more than 10 years of experience as in-house counsel at Philadelphia-area real estate development firms has moved his practice to Flaster Greenberg PC to grow his client base with complex projects, the firm said Tuesday.

  • December 04, 2024

    What Real Estate Pros Learned About Office Sector In 2024

    While the long-term story of the office sector post-pandemic is still yet to be told, 2024 offered some clues as to what may be in store for that asset class going forward.

  • December 03, 2024

    Texas Judge Blocks 'Quasi-Orwellian' Anti-Laundering Law

    A Texas federal judge on Tuesday halted the Biden administration's roll-out of new reporting requirements aimed at unmasking anonymous shell companies, granting a nationwide preliminary injunction sought by business interests challenging their constitutionality.

  • December 03, 2024

    Ex-Braves Blast Tax Court's 'Disregard' In Easement Fight

    Two former Atlanta Braves players penalized for allegedly overstating the value of a conservation easement donation urged the Eleventh Circuit to toss the costly ruling against them, saying the U.S. Tax Court's decision showed "blatant disregard" for the appeal court's precedent in deciding the matter.

  • December 03, 2024

    Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says

    A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.

  • December 03, 2024

    Insurance Execs Charged With $250M Fake Policy Scheme

    An insurance company and two executives issued bogus insurance policies purporting to offer over $250 million in coverage to companies and homeowners, according to an indictment announced by the Manhattan district attorney Tuesday.

  • December 03, 2024

    Gov't Properties REIT Buys NC School System Campus

    Real estate investment trust Easterly Government Properties Inc. announced Tuesday it acquired a three-property campus of commercial properties in Cary, North Carolina, which are leased primarily to a local public school system.

  • December 03, 2024

    Insurer Says No Coverage For Fishery's $2M Water Damage

    An insurer told an Arizona federal court it owed no coverage to a seafood company embroiled in underlying litigation over more than $2 million in water damage, saying the fishmonger's splashing at its rental property wasn't accidental and its polices weren't in effect at the time.

  • December 03, 2024

    Pastor Wants Judge DQ'd Over Attorney Turnover Comment

    A Michigan pastor said Monday that a federal judge should be disqualified from overseeing his lawsuit alleging a township's zoning ordinance discriminates against religious entities because of a comment the judge made about the pastor having "issues" with attorney turnover.

  • December 03, 2024

    California Tribe Says Feds Didn't Consult On Casino Project

    A California tribe is looking to block the U.S. Department of Interior from approving a casino project on its historic homelands, arguing that the federal government failed to consult it on the endeavor that will irreparably harm its sovereignty and its rights over sacred objects located on the site.

  • December 03, 2024

    JV Nabs NYC Waterfront Property, $85M Construction Loan

    A joint venture of Joyland Group and Prospect Development purchased an undeveloped Brooklyn, New York, waterfront property for $48.25 million, simultaneously securing an $85 million construction loan, according to a Tuesday statement from JLL, which arranged both deals.

  • December 03, 2024

    Timeshare Co. Argues Jury Never Should've Seen Fraud Suit

    A company selling timeshares in Atlantic City, New Jersey, told a state appeals court Tuesday that a consumer fraud suit never should have reached a jury, arguing that an evidence rule bars the claims.

Expert Analysis

  • How To Avoid A Costly CPA Limitation Hidden In Most Leases

    Author Photo

    The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.

  • Navigating FEMA Grant Program For Slope Fixes After Storms

    Author Photo

    In the aftermath of Hurricanes Helene and Milton, it is critical for governments, businesses and individuals to understand the legal requirements of the Federal Emergency Management Agency's grant programs to obtain funding for crucial repairs — including restoration of damaged infrastructure caused by landslides and slope failures, says Charles Schexnaildre at Baker Donelson.

  • Smith's New Trump Indictment Is Case Study In Superseding

    Author Photo

    Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.

  • Consider Best Legal Practices For Commissioning Public Art

    Author Photo

    Commissioning public art for real estate projects can provide many benefits to real estate developers and the public, but it's important to understand the unique legal and contracting aspects of the process to ensure that projects are completed on time and on budget, says Sarah Conley Odenkirk at ArtConverge.

  • Applying High Court's Domestic Corruption Rulings To FCPA

    Author Photo

    After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.

  • Climate Among Many Factors Driving Up RE Insurance Costs

    Author Photo

    A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.

  • Bid Protest Spotlight: Debriefings, Timeliness, Documentation

    Author Photo

    ​James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.

  • A Look At Recent Case Law On Expedited Judgment In NY

    Author Photo

    A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.

  • Dealmaker Lessons From CFIUS' New Enforcement Webpage

    Author Photo

    The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.

  • Reassessing Lease Provisions To Account For ESG Initiatives

    Author Photo

    As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.

  • Avoid Getting Burned By Agencies' Solar Financing Spotlight

    Author Photo

    Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.

  • Co-Tenancy Clause Pointers For Shopping Center Landlords

    Author Photo

    Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.

  • Assessing Algorithmic Versus Generative AI Pricing Tools

    Author Photo

    A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.