Commercial

  • 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 Wednesday.

  • 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

    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.

  • October 15, 2024

    Cohen Drags $187M Monster Loan Guaranty Suit To Appeal

    Billionaire real estate developer Charles Cohen appealed a New York state court's earlier October ruling that paved the way for Fortress Credit Corp. to collect on a $187 million personal guaranty, as part of the company's ongoing efforts to recover a $534 million loan.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    Law Firm Ducks Sanctions Over Depos In NJ Malpractice Suit

    A New Jersey state judge has declined to sanction Chaitman LLP in a dispute over the order of depositions in a malpractice lawsuit stemming from real estate litigation.

  • October 15, 2024

    NYC Real Estate Week In Review

    Gutman Weiss and Price Law Firm are among the firms that guided the largest New York City real estate deals that hit public records last week, with three of the week's five largest deals being Brooklyn matters.

  • October 15, 2024

    Blank Rome, Nixon Peabody Guide NYC Section 8 $96M Refi

    Camber Property Group LLC secured a $96.2 million refinancing from Merchants Capital Corp, tied to four Brooklyn, New York, Section 8 multifamily properties, in a deal guided by Blank Rome LLP.

  • October 15, 2024

    Simpson Thacher, Milbank Guide $2B DataBank Equity Raise

    Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

  • October 15, 2024

    Justices Reject Homebuilder Case Over Minn. Fee Scale

    The U.S. Supreme Court has refused to hear claims from a homebuilders' trade group that a court failed to consider whether "valuation-based" permit fees that scale higher for more expensive projects should match the support two Minneapolis suburbs provide.

  • October 11, 2024

    Property Plays: Tallest Towers, 701 Brickell, Nuveen

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • October 11, 2024

    RICO Suit Accuses VC Co. Of Falsely Claiming Native Ties

    Three California corporations have hit the owners and operators of a venture capital firm with a racketeering suit in federal court, accusing them of falsely claiming they have Native American ties and can procure grants and loans for development projects managed by non-Native entrepreneurs.

  • October 11, 2024

    EB-5 Investor Urges Rollback Of Immigration Fee Hikes

    An EB-5 immigrant investor urged a Colorado federal judge to set aside controversial immigration fee increases that took effect in April, arguing that a 2022 law required a study from the U.S. Department of Homeland Security before the immigrant investor program fees could be raised.

Expert Analysis

  • Navigating FEMA Grant Program For Slope Fixes After Storms

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    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

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    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

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    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.

  • Playing Diplomacy Makes Us Better Lawyers

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    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.

  • Applying High Court's Domestic Corruption Rulings To FCPA

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    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

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    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

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    ​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.

  • Collecting Art Makes Me A Better Lawyer

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    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.

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

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    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.

  • Round-Canopy Parachuting Makes Me A Better Lawyer

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    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.

  • Dealmaker Lessons From CFIUS' New Enforcement Webpage

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    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

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    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

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    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.