Commercial
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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 political donations to the New York City mayor, as prosecutors secured a guilty plea in their high-profile political corruption investigation.
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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.
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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.
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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.
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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.
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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.
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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 Thursday.
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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.
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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.
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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.
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January 09, 2025
Highgate Hotels Hit With Suit Over Months-Long Data Breach
A former employee seeking to represent a class claimed in New York federal court that real estate and hospitality management company Highgate Hotels failed to use basic cyberattack prevention tools, allowing hackers to access employee records for months.
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January 09, 2025
Indiana House Bill Would Abolish Property Taxes
Indiana would disallow the assessment of tangible property beginning in 2026 and end the imposition of property taxes beginning in 2027 under a bill introduced Thursday in the state House of Representatives.
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January 09, 2025
Yale Wins Info Battle In $435M Hospital Sale Contract Fight
Three Connecticut property owners must hand over internal analyses and communications to Yale New Haven Health Services Corp. as it seeks evidence in support of its bid to back out of a $435 million deal to purchase hospitals from Prospect Medical Holdings Inc., a state court judge ruled.
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January 09, 2025
Calif. Insurance Chief Blocks Policy Cancellation In Fire Zones
Insurance companies can't cancel or refuse to renew homeowners coverage for policyholders in the immediate vicinity of the Los Angeles wildfires for one year, the California Department of Insurance announced as fires continue to ravage Southern California.
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January 09, 2025
McGuireWoods Adds Commercial Litigator Amid Hiring Spree
A commercial litigator specializing in complex construction disputes has moved his practice to McGuireWoods LLP's Washington, D.C., office after more than 19 years at Jones Day, amid a flurry of new partner hires at the firm, it announced Thursday.
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January 09, 2025
Morgan Stanley Sells NYC Office Tower For $360M
Morgan Stanley sold a 29-story, 1 million-square-foot New York City office tower to children's clothing retailer Haddad Brands for $360 million in a deal lined up by Newmark Group Inc., the commercial real estate adviser announced on Thursday.
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January 09, 2025
Meet The Attys Helping Ailing NY Nursing Home In Ch. 11
Cold Spring Holdings, owner of a 588-bed nursing facility on Long Island, has enlisted attorneys from Manatt Phelps & Phillips LLP to help the company pursue a Chapter 11 bankruptcy it says was stimulated by a "crusade" on the part of New York Attorney General Letitia James.
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January 09, 2025
Kraft Heinz Set For March Trial Over Food Factory Overhaul
Kraft Heinz Foods Co. and the Ohio contractor that accused it of failing to pay $7.6 million for the work and materials that went into overhauling a factory the company has near the Sandusky River are scheduled for a March 25 bench trial, according to a Wednesday order.
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January 08, 2025
Bronx Multifamily Project Cashes In $218M Freddie Mac Loan
Affiliates of The Domain Cos. have secured a $218 million loan for a mixed-use, mixed-income multifamily project in the Bronx borough of New York City, with financing provided by Freddie Mac via JLL Real Estate Capital.
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January 08, 2025
Greenberg Traurig Works On $120M Prologis Industrial Buy
Exxon Mobil Corp. sold a Brooklyn, New York, commercial property to logistics real estate company Prologis Inc. for $120 million in a deal that involved Greenberg Traurig LLP, according to official property records.
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January 08, 2025
Toxic LA Landfill Closes, But Lawsuits Continue to Pile On
Los Angeles County has moved to study the effects of the closure of the Chiquita Canyon Landfill, which stopped accepting waste last week following a series of lawsuits and other complaints over the effects of an underground reaction that's been spewing super-heated wastewater, likely since 2022.
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January 08, 2025
Farm Owner Can't Claim $6.5M For Border Wall, 5th Circ. Told
The federal government argued Wednesday that a Texas woman isn't owed millions of dollars in compensation for a section of the state's border wall built on her land, telling the Fifth Circuit that a principle giving landowners rights to property improvements can't be equitably applied to the federal government.
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January 08, 2025
Judge Reverses His Own Ruling In Chicago Hotel Zoning Fight
An Illinois federal judge ruled against the owners of a historic Chicago hotel Tuesday, dialing back an earlier victory he had granted them last year in a zoning suit against the city.
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January 08, 2025
Calif. Tribe Has Standing To Block Casino Project, Court Told
A California tribe says it has constitutional standing to block the Interior Department from taking land into trust for a proposed casino project on its historic homelands, arguing that it suffered actual and concrete harm when the agency determined that no historic resources would be affected by the endeavor.
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January 08, 2025
Trump-Aligned Dubai Developer To Put $20B Into Data Centers
Dubai-based developer DAMAC Properties plans to break into the U.S. data center industry with a $20 billion investment targeting Sunbelt and Midwest states, with help from the federal government, according to a recent announcement by President-elect Donald Trump.
The Enviro Policies Real Estate Attys Are Eyeing In 2025
On the precipice of four years of expected deregulation, agency challenge, and a weakening of incentives and credits, real estate attorneys and their clients are in a wait-and-see phase to determine how environmental policy shifts will — or should — alter their work.
Power Constraints May Test Data Center Gains In '25
Few doubt that demand for data centers will be strong this year, but can the industry's supply keep up, and does the energy infrastructure exist to make more development possible? These are the questions on attorneys' minds going into the new year.
CMBS Deals, Distress Rates Saw 2024 Highs
Kroll Bond Ratings Agency reported Tuesday that $104.1 billion worth of commercial mortgage-backed securities were issued in 2024, more than doubling issuance rates seen in 2023, even as distress rates driven by office sector performance rose simultaneously.
Expert Analysis
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Timeline Considerations For Boston's New RE Review Process
Boston's newly reimagined large real estate project review process, featuring early community engagement, holds impacts for project timelines that land use counsel must account for when guiding developers through approvals, says David Linhart at Goulston & Storrs.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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Adapting Force Majeure To A Predictably Unpredictable World
As the climate and political landscapes get more complicated, force majeure provisions will likely be triggered increasingly often, demanding an evolving understanding of when events and their impacts are truly unforeseeable, say attorneys at Nossaman.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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How Landlords Can Navigate Cannabis-Related Leases
As the cannabis industry continues to rapidly grow, landlords should consider a variety of lease terms and operational details that may help mitigate uncertainty involving federal laws, zoning restrictions and tax implications, says Kyla Baker at Holland & Knight.
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Lights, Camera, Real Estate: Preparing For Film Facility M&A
As the entertainment industry struggles to recover from multiple strikes and a decline in production, certain aspects of selling or acquiring production facilities may become important to consider, as these assets are valued very differently from typical commercial real estate properties, say attorneys at Olshan Frome.
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Corporate Liability Issues To Watch In High Court TM Case
The U.S. Supreme Court will hear arguments in a trademark dispute between Dewberry Group and Dewberry Engineers next week, presenting an opportunity for the court to drastically alter the fundamental approach to piercing the corporate veil, or adopt a more limited approach and preserve existing norms, say attorneys at Bracewell.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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A Legal Perspective On NYC's Retail Real Estate Evolution
As New York City's retail market begins to show signs of resilience after the challenges of recent years, landlords must be cognizant of legal implications from shifting trends toward shorter-term leases and pop-up stores, says Andrea Gendel at Pryor Cashman.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.