Residential
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November 06, 2024
What Trump's Victory Portends For Commercial Real Estate
President-elect Donald Trump's victory could clear up uncertainty for investors who had been waiting out the election, but the commercial real estate industry may see challenges ahead from some of his proposed "protectionist" policies, attorneys and experts said Wednesday.
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November 06, 2024
Developer Raises $171M For Affordable Housing Projects
The Richman Group Affordable Housing Corp. announced that it has raised $171.5 million in equity, which will allow the company to acquire, rehabilitate and construct 15 affordable housing properties in as many states.
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November 06, 2024
JV Nabs $110M Refinancing For NYC Multifamily Portfolio
A joint venture between Davean Holdings and Meadow Partners landed a $110 million refinancing of a New York City multifamily portfolio from Hudson Bay Capital, according to Walker & Dunlop, which facilitated the refinancing.
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November 06, 2024
Capital Markets Bounce Back For Big Four Brokers In Q3
After predicting a return of capital markets activity in the second half of 2024, commercial real estate's big four brokers reported that buyers and sellers are finally returning to the market in announcing third quarter results recently.
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November 06, 2024
Ga. Judge Trims Insurer's Shooting Coverage Claims
A Georgia federal judge Wednesday threw out as premature AMCO Insurance Co.'s claim asserting it has no duty to indemnify an apartment complex facing litigation after a resident was struck by multiple bullets while sleeping, but left in place its claim it has no duty to defend the complex.
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November 06, 2024
FINRA Fines Firm Over Lax Real Estate Investment Diligence
The Financial Industry Regulatory Authority ordered broker-dealer XP to pay $800,000 in restitution and penalties to settle claims that, among other things, it recommended investments in a series of real estate-focused private placements without conducting proper due diligence on them, leading to investor losses when the offerings flopped.
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November 06, 2024
NJ Authorizes Sharing Property Tax Info To Calculate Credits
New Jersey authorized the sharing of taxpayers' unredacted property tax information to calculate tax credits as part of a property tax relief program under a bill signed by Democratic Gov. Phil Murphy.
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November 06, 2024
MVP: Cadwalader's Holly Chamberlain
Holly Chamberlain led teams from Cadwalader Wickersham & Taft LLP in advising major lenders on several significant deals this year, including the origination of three mortgage loans worth a combined $3.1 billion as part of Blackstone's $10 billion take-private transaction of multifamily owner AIR Communities, earning her a spot as one of the 2024 Law360 Real Estate MVPs.
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November 06, 2024
Calif. Voters Won't Rethink City Borrowing Tool For Housing
California voters on Tuesday rejected Proposition 5, a ballot initiative that would have amended the state's constitution to make it easier for municipalities to borrow the money needed to fund affordable housing and infrastructure work.
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November 05, 2024
An Early Look At Trump's Supreme Court Shortlist
With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.
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November 05, 2024
GOP's Senate Win Hands Future Of The Judiciary To Trump
Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees.
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November 05, 2024
Florida, Georgia, Others Peel Back Real Estate Taxes
Voters in seven states approved a spate of real estate tax ballot initiatives on Election Day, including measures that would curb property taxes for veterans, residential property owners and residents of municipalities that fail to enforce nuisance laws.
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November 05, 2024
California Voters Reject Cities' Rent Control Authority
California voters on Tuesday rejected Proposition 33, a ballot initiative that would have expanded local governments' authority to enact rent control measures but that opponents argued would have made the state's housing crisis worse.
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November 05, 2024
Miami Condo Owners Sue Over 'Dangerous' Conditions
A nonprofit representing a group of Miami luxury condominium residents sued the building's owners in Florida state court for allegedly neglecting the building's conditions for years, putting the building at risk of collapsing.
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November 05, 2024
Management Co. Says Insurer Can't Duck HOA Fire Coverage
A property management company has taken an Auto-Owners Insurance unit to North Carolina federal court for allegedly trying to pull back defense and indemnity coverage it had already been providing in an underlying lawsuit brought by a homeowners' association over a 2021 fire, arguing that it's too late for the insurer to back out.
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November 04, 2024
NYC Council Adds Affordability Plan To Resi Zoning Debate
The New York City Council unveiled the outline of a plan it says would ensure more affordable and livable housing, adding that the proposal augments Mayor Eric Adams' housing zoning reform plan.
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November 04, 2024
Shell Slips Negligence Claim In Pa. Nuisance Lawsuit
Neighbors of Shell Chemical Appalachia's Western Pennsylvania ethylene cracker plant will need to be more specific about dust and pollution affecting their homes if they want to revive a negligence claim that a federal court struck from a proposed class action Monday.
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November 04, 2024
Colo. AG Underestimates Tenants, Rental Home Group Says
A trade group has argued that Colorado's attorney general views tenants as "unsophisticated consumers" when he told the state Supreme Court that a group of tenants should be able to sue Blackstone subsidiaries over lease terms exchanging maintenance work for a rent discount.
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November 04, 2024
Calif. Sues Los Angeles Suburb Over Homeless Shelter Ban
California on Monday sued the Los Angeles County city of Norwalk, arguing a law it enacted in August banning new shelters, single-room developments and other forms of supportive housing violates regulations meant to address the state's housing crisis.
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November 04, 2024
DC Makes Housing Tax Break Competitive Process Permanent
The District of Columbia made permanent its temporary authorization of a competitive process for tax abatements for housing developments under legislation signed by the mayor, though the measure is subject to congressional review before it becomes law.
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November 04, 2024
NYC Real Estate Week In Review
Sullivan & Cromwell and Meltzer Lippe are among the law firms that guided the largest real estate deals that hit New York City records last week, a slow period that saw only four transactions north of $15 million become public.
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November 04, 2024
GrayRobinson Adds Trio Of Attys To Tampa Office
GrayRobinson PA announced Monday that it has boosted its local government, education and commercial litigation offerings with three hires for its Tampa office — two new shareholders and a senior associate.
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November 04, 2024
Mortgage Co. Accused Of 'Bad Faith' In Settlement With Atty
A former staff attorney with a mortgage company has accused the business of "bad faith" for purportedly trying to renegotiate the terms of a settlement to resolve her Texas state lawsuit alleging she was fired after she witnessed inappropriate sexual behavior by a deputy general counsel.
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November 04, 2024
Haynes Boone Hires 3 More RE Attys From Holland & Knight
Haynes and Boone LLP has hired a trio of attorneys from Holland & Knight LLP in Dallas and Northern Virginia, saying Monday that their additions will complement the firm's real estate and finance offerings.
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November 04, 2024
IRS Finalizes Seized Property Rules To Include Online Sales
The Internal Revenue Service issued final rules Monday meant to modernize regulations governing the seizure of property by levy, including facilitating the online sale of a property and the agency's ability to maximize sale proceeds for the property owner's benefit.
Expert Analysis
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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High Court's BofA Ruling Leaves State Preemption Questions
A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
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The Clock Is Ticking For Fla. Construction Defect Claims
Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.
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Wiretap Use In Cartel Probes Likely To Remain An Exception
Although the U.S. Department of Justice's Antitrust Division has recently signaled interest in wiretaps, the use of this technology to capture evidence of antitrust conspiracies and pursue monopolization as a criminal matter has been rare historically, and is likely to remain so, say Carsten Reichel and Will Conway at DLA Piper.
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Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Debate Over CFPB Definition Of Credit Is Just Beginning
The Consumer Financial Protection Bureau has recently worked to expand the meaning of credit, so anyone operating on the edges of the credit markets, or even those who assumed they were safely outside the scope of this regulatory perimeter, should pay close attention as legal challenges to broad interpretations of the definition unfold, says John Coleman at Orrick.
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A Closer Look At Feds' Proposed Banker Compensation Rule
A recently proposed rule to limit financial institutions' ability to award incentive-based compensation for risk-taking may progress through the rulemaking process slowly due to the sheer number of regulators collaborating on the rule and the number of issues under consideration, say attorneys at Troutman Pepper.
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The FTC And DOJ Should Backtrack On RealPage
The antitrust agencies ought to reverse course on their enforcement actions against RealPage, which are based on a faulty legal premise, risk further property shortages and threaten the use of algorithms that are central to the U.S. economy, says Thomas Stratmann at George Mason University.
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Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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Ohio Tax Talk: The Legislative Push For Property Tax Relief
As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
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In The CFPB Playbook: Regulatory Aims Get High Court Assist
Newly emboldened after the U.S. Supreme Court last month found that the Consumer Financial Protection Bureau's funding is constitutional, the bureau has likely experienced a psychic boost, allowing its already robust enforcement agenda to continue expanding, say attorneys at Husch Blackwell.