Commercial

  • October 21, 2024

    DC Moves To Buy NBA, NHL Arena In $800M Overhaul Plan

    Washington, D.C., Mayor Muriel Bowser on Monday announced the introduction of legislation to buy Capital One Arena for $87.5 million to keep the Washington Capitals and Washington Wizards in town, after months of negotiations with Sidley Austin LLP advising the arena owner.

  • October 21, 2024

    NYC Real Estate Week In Review

    Greenberg Traurig and Fried Frank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period headlined by a nearly $160 million Manhattan deal.

  • October 21, 2024

    5th Circ. Asked To Nix Insurer's $2.2M Assault Coverage Win

    A group of Texas trial lawyers urged the Fifth Circuit to reverse a Texas federal court's order permitting a bar's insurer to pay only its $1 million limit for a $3.2 million personal injury judgment, arguing the underlying plaintiffs made a valid presuit settlement demand.

  • October 21, 2024

    Justices Won't Review IRS' Additions To Developer's $2M Deal

    The U.S. Supreme Court said Monday it wouldn't review an Eleventh Circuit decision allowing the Internal Revenue Service to back out of a deal to settle an Alabama real estate developer's tax debt for $2 million.

  • October 18, 2024

    Law360 MVP Awards Go To Top Attys From 74 Firms

    The attorneys chosen as Law360's 2024 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.

  • October 18, 2024

    5th Circ. Partially Upholds $2M Win In Hurricane Coverage Suit

    The Fifth Circuit has upheld in part a Louisiana church's more than $2 million judgment win against an insurer that was accused of not paying enough for the church's hurricane damage claims.

  • October 18, 2024

    Feds Defend Bribery Charge Against NYC Mayor Adams

    Federal prosecutors pushed back Friday on New York City Mayor Eric Adams' attempt to erase a bribery charge from his indictment, arguing that while Adams claims his acts were "routine" and allowed under a recent U.S. Supreme Court precedent, a jury could still find his alleged favor trading illegal.

  • October 18, 2024

    NFL Stadiums May Lose $11B To Climate Change By 2050

    Three NFL stadiums could suffer up to an estimated $11 billion in losses by 2050 due to climate change, according to a recent report from a climate risk data analytics company.

  • October 18, 2024

    Minn. Tax Court Refuses Big Changes To Parking Lot's Value

    The Minnesota Tax Court lowered the assessed value of a parking lot property by about $200,000 to $11.7 million, rejecting arguments for larger changes by the property owner and a county.

  • October 18, 2024

    NYC Building Sold After Losing Half Of Tenants To Ch. 11

    A historic mixed-use building in New York City's Chelsea neighborhood that was ravaged by the bankruptcies of two major tenants has been acquired and recapitalized by a partnership of RXR Realty and Hudson Bay Capital through a $421 million financing package from Blackstone, the buyers announced Friday.

  • October 18, 2024

    Winston & Strawn Expands New Miami Office Footprint

    Winston & Strawn LLP is planning to rent more room at Miami's largest office building come 2025, cementing its presence at the property it once deemed a temporary home while it waited for construction at the 830 Brickell office tower to wrap up, a managing partner of the law firm told Law360 Friday.

  • October 17, 2024

    Ex-NFL Player Indicted For Real Estate Embezzlement

    Former Detroit Lions player Chris Harrison skimmed loan proceeds intended for real estate developments to fund personal expenses, including Rolex watches, landscaping services and a home mortgage, federal prosecutors alleged when announcing charges against the former NFL player on Thursday.

  • October 17, 2024

    Lender Says Denver Property Owner Defaulted On $27M Loan

    A lender told a Colorado state court that it wants a Denver retail property to be placed in receivership after the owner allegedly defaulted on a $27.1 million commercial mortgage loan this month.

  • October 17, 2024

    Milton Brings High Insured Costs, Familiar Pressures To Fla.

    While Florida avoided a worst case scenario following Hurricane Milton's landfall, insurance experts say that the high cost of the storm will add familiar pressures to a Florida homeowners insurance market that has been battered for years by storms.

  • October 17, 2024

    Mont. Tax Board Upholds Assessment On Storage Facility

    The owner of a Montana commercial property used to house storage units was unable to lower its value because the state Tax Appeal Board gave more weight to the state Department of Revenue's valuation using an income analysis. 

  • October 17, 2024

    Fried Frank Guides Extell's $159M Madison Avenue Tower Buy

    Fried Frank advised on Extell Development's acquisition of a 24-story tower at 655 Madison Avenue for nearly $160 million after seller Williams Equities moved to demolish the building in August.

  • October 17, 2024

    Trepp Eyes CMBS Loans On Southeast Coast After Hurricanes

    Real estate research firm Trepp has its eye on four commercial mortgage-backed securities collateralized by office, hotel and mall properties in the wake of Hurricanes Helene and Milton, the firm reported Oct. 16.

  • October 17, 2024

    Meet Attys In Chancery Fight Over Helene-Damaged Paper Mill

    Paul Weiss Rifkind Wharton & Garrison LLP attorneys are representing the owner of a shuttered paper mill in flood-ravaged western North Carolina in a Delaware Chancery Court action that aims to force a development group, represented by Ross Aronstam & Moritz LLP, to buy and redevelop the site.

  • October 16, 2024

    Hurricanes Stir Questions On 'Acts Of God' In Contracts

    The predictability of extreme weather events is bringing renewed attention to force majeure clauses in real estate contracts and whether incidents like a pair of devastating hurricanes in Florida can really be classified as unforeseeable "act of God" events.

  • October 16, 2024

    Real Estate Lenders Are Borrowers In Debt Funds' Rise

    Private credit may have stepped in to fill the void when banks pulled back significantly from lending to commercial property owners, but that doesn't mean banks have left the picture.

  • October 16, 2024

    Developers Push On After Mich. Township Bike Law Loss

    Two developers urged a Michigan federal court to upend a Jamestown Charter Township ordinance under which some developers must fund the construction of bike paths, arguing that fees they were charged under the law were unconstitutional takings.

  • October 16, 2024

    Developer, Investment Firm Complete 57-Story Miami Tower

    Developer OKO Group and real estate investment firm Cain International received a temporary certificate of occupancy from Miami for their 57-story office tower, the companies announced Wednesday.

  • October 16, 2024

    Blank Rome Guides $250M Loan For Archdiocese Of NY

    The Archdiocese of New York borrowed a $250 million mortgage loan from Goldman Sachs Bank USA for multiple New York City properties including a hotel in a deal guided by Blank Rome LLP, according to official property records filed Wednesday.

  • October 16, 2024

    Barings Offers $134M Refi For NC Apartment Complex

    Barings has provided a five-year, $134 million loan to refinance the debt for a 283-unit, mixed-use North Carolina apartment complex, the real estate investment management company announced.

  • October 15, 2024

    Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told

    Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.

Expert Analysis

  • Lower Courts May Finally Be Getting The Memo After Ciminelli

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    A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.

  • A Framework For Investigating Commercial Loan Fraud

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    As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.

  • Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Yellow Corp. Lease Assumption Shows Landlord Protections

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    Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.

  • How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet

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    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.

  • The Clock Is Ticking For Fla. Construction Defect Claims

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    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.

  • Playing Chess Makes Me A Better Lawyer

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    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.

  • Fishing Makes Me A Better Lawyer

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    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.

  • It's Time To Defuse The Ticking Time Bomb Of US Landfills

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    After recent fires at landfills in Alabama and California sent toxic fumes into surrounding communities, it is clear that existing penalties for landfill mismanagement are insufficient — so policymakers must enact major changes to the way we dispose of solid waste, says Vineet Dubey at Custodio & Dubey.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    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.

  • Ohio Tax Talk: The Legislative Push For Property Tax Relief

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    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.

  • Tips For Advising CRE Owners Affected By Houston Storms

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    As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.

  • Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.