Commercial
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November 12, 2024
Holding Co.'s $6B CMBS Exposed By Bankruptcy, Report Says
Franchise Group Inc.'s $6.18 billion worth of commercial mortgage-backed securities are at risk of exposure after the retail-focused holding company declared Chapter 11 bankruptcy, which has caused the company to close down more than 300 store locations, according to a report from the analytics team of credit ratings agency KBRA released Tuesday.
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November 12, 2024
Treasury's Energy Tax Perk Regs On Track Despite Trump Win
The U.S. Treasury Department still plans to finalize remaining clean energy tax credit regulations by the end of this year despite President-elect Donald Trump's campaign promise to unravel the 2022 climate law that enacted them, a Treasury spokesperson told Law360 on Tuesday.
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November 12, 2024
SD AG Issues Explanation Of Property Tax Hike Limit Initiative
South Dakota's attorney general released a final explanation for an initiative that could appear on the state's 2026 general election ballot and would limit annual property tax assessment increases for nonagricultural property, according to a news release published Tuesday.
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November 12, 2024
Paul Hastings Commits To Texas With New Office Leases
More than 12 years after first hanging a shingle in Houston and months after opening a Dallas outpost, Paul Hastings announced Tuesday that it had ambitious plans to continue its recent expansion in Texas with the signing of two commercial leases to boost the firm's capabilities in the Lone Star State.
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November 12, 2024
Goodwin Lands 2 Willkie Real Estate Finance Partners In NY
Goodwin Procter LLP announced Tuesday that it has added two partners from Willkie Farr & Gallagher LLP to join Goodwin's growing global real estate industry practice in New York.
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November 12, 2024
Bradley Arant Adds Real Estate Pro In Dallas Office
Bradley Arant Boult Cummings LLP is growing its real estate team in its 6-year-old Dallas office by bringing in a commercial real estate expert who previously ran his own boutique firm as a partner.
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November 08, 2024
Cannabis Shops Sue DC To Halt Enforcement Actions
A coalition of Washington, D.C., recreational marijuana shops has launched a federal lawsuit against a slew of District entities, including the mayor, cannabis regulator and police department, seeking to halt the government's enforcement actions against their stores.
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November 08, 2024
Investors Say REITs Misled Them Into Delaying Liquidations
A group of retail-focused, non-traded real estate investment trusts misled shareholders into approving charter amendments that stopped shares liquidation and prevented them from making money off their investments, a proposed class claimed in New Jersey federal court.
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November 08, 2024
Exec Exodus At Hospitality Platform Sonder Includes CLO
Hospitality platform Sonder announced Friday its chief legal officer will be resigning from her role later this month as one of three executives who have announced their plans to leave the company by the end of 2024.
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November 08, 2024
Cohen & Steers Names General Mills' GC To Its Board
Investment management company Cohen & Steers Inc. announced Friday that it has appointed General Mills' general counsel Karen Wilson Thissen to its board of directors.
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November 08, 2024
Steptoe & Johnson Adds Veteran Corporate Atty In Dallas
Steptoe & Johnson PLLC announced that a veteran corporate attorney who previously served as the top attorney for a major auto repair company has joined the firm's Dallas office as of counsel, in a move the firm said will help strengthen its private credit practice.
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November 08, 2024
GSA Weighs 2 Sites For New Connecticut Federal Courthouse
Federal officials are weighing two possible sites for a new $355 million federal courthouse to replace an aging one in Hartford, Connecticut.
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November 07, 2024
Trump Election Complicates Growing Insurance Climate Crisis
Donald Trump's election to a second term as president is a huge setback for global efforts to curb climate change, and his disregard for the environment will likely complicate efforts to better understand climate risks facing insurers and consumers, experts say.
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November 07, 2024
7th Circ. Sends Refuge Power Line Fight Back To Wis. Judge
A Seventh Circuit panel scrapped stayed preliminary injunctions that temporarily blocked a power transmission line from crossing the Upper Mississippi River National Wildlife and Fish Refuge, directing a Wisconsin federal judge to determine if conservation groups' request for permanent relief is warranted or even possible with the line now built.
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November 07, 2024
Strip Mall, Insurer Agree To End Repair Payments Dispute
A Tennessee strip mall owner and its insurer agreed to bury the hatchet Thursday and resolve claims the insurance company withheld costs for building repairs via wrongful depreciation, Wisconsin federal court filings said.
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November 07, 2024
Ariz. OKs Property Tax Credits For Unattended Nuisances
Arizona property owners affected by public nuisances that local governments fail to address could qualify for tax refunds under Proposition 312, a ballot measure approved by state voters.
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November 07, 2024
JLL Adds $100M To Dry Powder Stock For Affiliate REIT
Commercial broker JLL said Nov. 7 that it put an additional $100 million into its own JLL Income Property Trust to support its investments at an "opportune" time in real estate market recovery.
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November 07, 2024
Ex-GE Affiliate Cleared In Bellwether Chemical Leak Verdict
A Louisiana jury has cleared General Electric Co. and former subsidiary Dresser LLC of liability in a bellwether suit over allegations that they improperly disposed of chemicals that contaminated the Rapides Parish area.
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November 07, 2024
Hotel REIT Lands $121.5M Refi Of Va. Marriott Hotel
Ashford Hospitality Trust Inc. obtained a three-year, $121.5 million nonrecourse loan to refinance a mortgage loan connected to its 703-room Marriott hotel in Arlington, Virginia, the real estate investment trust announced Nov. 7.
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November 06, 2024
Demand, Not Distress, Defines South Florida Office Market
A scarcity of new, high-quality office space in South Florida and a continued flow of companies and people moving to the region has experts expecting demand to outweigh the distress that has beset the wider office market into the foreseeable future.
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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
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
Realty Income Readies New Private Capital Fund
Realty Income is creating a new private capital investment platform that the real estate investment trust's chief executive told investors will allow the REIT to work with "a deep pool of institutional capital from investors who may otherwise lack the mandate or ability to invest in real estate securities."
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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
Browns Won't Stop Ohio From Joining Stadium Dispute
The Cleveland Browns told an Ohio federal court that it has no problem with the state joining the City of Cleveland in facing down the NFL team's suit, which claims that a state law unconstitutionally impedes the team's plan to move to a new stadium.
Expert Analysis
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Consider Best Legal Practices For Commissioning Public Art
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.
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Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
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Applying High Court's Domestic Corruption Rulings To FCPA
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.
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Climate Among Many Factors Driving Up RE Insurance Costs
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.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
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.
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Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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A Look At Recent Case Law On Expedited Judgment In NY
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.
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Round-Canopy Parachuting Makes Me A Better Lawyer
Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
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.
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Reassessing Lease Provisions To Account For ESG Initiatives
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.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
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.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
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.
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Assessing Algorithmic Versus Generative AI Pricing Tools
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.