Commercial
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September 17, 2024
Univ. Can Expand Coastal Campus, Mass. Appeals Court Says
A Massachusetts university has no obligation to preserve for public use 12 acres of land in a coastal town just north of Boston, the state's intermediate-level appeals court ruled.
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September 17, 2024
Ex-Skadden Atty Joins Board Of Oil Property Co. LandBridge
Oil property acquirer LandBridge Co. has added a former Skadden Arps Slate Meagher & Flom LLP partner to its board, where the company hopes to benefit from her capital markets and corporate governance expertise.
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September 17, 2024
Ex-GT Attorney Joins Jones Day's Real Estate Ranks
A real estate attorney with a background in digital infrastructure work is moving from Greenberg Traurig LLP to the Washington, D.C., office of Jones Day.
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September 16, 2024
Schnader Harrison Inflated Bills Before Collapse, Suit Says
A Philadelphia-based real estate company caught up in a contract dispute over an allegedly botched North Carolina development project has accused the defunct Schnader Harrison Segal & Lewis LLP of engaging in a "phantom billing scheme" to boost the firm's revenue ahead of its eventual dissolution last September.
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September 16, 2024
CoStar Subscriber Settles Suit Over Property Records Access
Real estate data and analytics provider CoStar Group Inc. has reached a deal with former subscriber Leon Capital Group LLC to settle its claims that Leon downloaded property records from CoStar's database that it was not authorized to access, in a deal that permanently bars Leon Capital from accessing CoStar's data without authorization.
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September 16, 2024
Carlyle Commits $1B To Clean Real Estate Finance Co.
Investment giant Carlyle said Monday that it has taken a stake in and committed $1 billion to real estate finance company North Bridge, which will be used toward green commercial upgrades.
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September 16, 2024
King & Spalding Nabs Ex-Arnold & Porter RE Finance Pro
A former Arnold & Porter partner has brought his real estate and finance expertise to the New York office of King & Spalding.
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September 16, 2024
King & Spalding, Winston Rep Hospice Facilities Deal
Healthcare investment banking firm Provident Healthcare Partners said Monday it assisted Crossroads Hospice & Palliative Care in its sale of a handful of hospice and palliative care facilities, in a deal crafted by King & Spalding LLP and Winston & Strawn LLP.
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September 16, 2024
Ares Tops $3.3B For Latest US Distressed Real Estate Fund
Ares said Monday it pulled in more than $3.3 billion for its fourth fund targeting distressed U.S. real estate assets, as the asset manager looks to capitalize on a troubled market.
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September 15, 2024
Top Atty For NYC Mayor Resigns As Fed. Investigations Mount
As investigations and high-profile departures continue around New York City's embattled Mayor Eric Adams, his chief counsel resigned Saturday.
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September 13, 2024
The 2024 Regional Powerhouses
The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.
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September 13, 2024
NJ Jury Puts $26M Price Tag On Land In Development Battle
A New Jersey federal jury found that the owner of a 22-acre former Michelin Tire & Rubber Co. factory at the heart of a land-taking battle should get $25.6 million from a borough redevelopment agency that argued the parcel would fetch less than a third of that figure on the market.
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September 13, 2024
Holland & Hart Adds Land Use Atty In Colorado
Holland & Hart LLP has brought a new partner into its Denver office, further building out its land use and real estate development offerings.
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September 13, 2024
Holland & Knight RE Pro Joins Haynes Boone In Dallas
A former Holland & Knight LLP attorney whose practice centers on real estate finance and commercial real estate has come aboard at the Dallas office of Haynes and Boone LLP, marking the eighth lawyer to join the firm's real estate practice group this year, the firm announced this week.
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September 13, 2024
Property Developer Claims To Be Target Of Legal 'Vendetta'
The director of a defunct property developer has hit back against a claim that accuses him of breaching his duties to the company, as he argued that the "vexatious" case was brought as part of a "vendetta" by his former co-directors.
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September 12, 2024
RealPage Win On Phishing Recovery A Policyholder Boon
A federal judge's holding that an AIG unit cannot lay claim to RealPage's recoveries of phishing losses that it did not originally insure is a win for policyholders as disputes over cyber loss coverage and related subrogation become more common, experts told Law360.
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September 12, 2024
Steward Health Care CEO Faces Contempt For No-Show
A Senate committee said it would vote next week to hold now-bankrupt Steward Health Care CEO Dr. Ralph de la Torre in contempt after he failed to comply Thursday with a subpoena ordering him to testify at a hearing.
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September 12, 2024
NewRiver REIT Gets 2nd Extension To Bid For UK Mall Owner
Shopping center owner Capital & Regional PLC said Thursday that the Panel on Takeovers and Mergers has granted its request to allow NewRiver REIT PLC more time to make or cancel a formal offer for Capital & Regional's biggest shareholder Growthpoint Properties Ltd.
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September 11, 2024
Top DC Real Estate News From Summer 2024
Catch up on the hottest real estate news out of Washington, D.C., this summer, including shifting office footprints and building conversion incentives.
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September 11, 2024
Climate Risks Call For Proactive Resilience, Pros Say
Increasing climate change risks show the need for a more proactive approach to improving the resilience of high-risk communities, a task made more complicated by unabating development in high-risk areas and challenges in modeling and communicating risk.
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September 11, 2024
Phelps Dunbar Recruits 6 Litigators In Raleigh
Phelps Dunbar LLP has hired six lawyers in Raleigh to serve the business and litigation needs of companies in North and South Carolina, adding strength in health care, construction, employment and intellectual property.
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September 11, 2024
Dickson Minto Breaks Tradition With Walker Morris Hire
Dickson Minto is breaking with its long tradition of virtually exclusively promoting partners from within its ranks by tapping into the lateral hiring market to rebuild its London offering, the Scottish firm's boss told Law360 Wednesday as the firm brings on a real estate veteran from Walker Morris LLP.
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September 11, 2024
Jones Day Litigators Jump To Holland & Knight In Mexico City
Holland & Knight LLP has hired two lawyers from Jones Day for its Mexico City office, where they will handle a sharp increase in litigation and arbitration cases in the country.
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September 11, 2024
UK Property Biz Rejects £5.6B Bid By Murdoch's REA Group
Rupert Murdoch's online real estate advertising company said Wednesday that Britain's Rightmove PLC has rejected an initial £5.6 billion ($7.3 billion) cash and share offer, despite concessions that would have kept the combined group on the London Stock Exchange.
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September 10, 2024
Miami-Dade Lied To Get Out Of Deal, Water Park Co. Says
A Florida company claimed a state court lawsuit brought by Miami-Dade County falsely alleges it caused the U.S. National Park Service to skip a required assessment of land owned by the local zoo, saying officials used that as an excuse to rescind a lease for a water park project.
Legal Fees Rise With Commercial Mortgage Foreclosures
More and more lenders are going to New York City courts to foreclose on commercial mortgages, a path that can lead to lengthy litigation and hefty legal fees, even if the borrower doesn't put up much of a fight.
Elections Haven't Had Much Immediate Real Estate Impact
The past six presidential elections have not had much immediate impact on commercial real estate investment, according to a report out this week from brokerage firm CBRE.
Where BigLaw Real Estate Presidential Donations Are Going
Law360 examined presidential campaign contributions from over 1,000 BigLaw real estate attorneys to see where that slice of the legal community is sending its support. Here's what we found.
Expert Analysis
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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.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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Portland's Gross Receipts Tax Oversteps City's Authority
Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.
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Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Proposed Law Would Harm NYC Hospitality Industry
A recently proposed New York City Law that would update hotel licensing and staff coverage requirements could give the city commissioner and unions undue control over the city's hospitality industry, and harm smaller hotels that cannot afford full-time employees, says Stuart Saft at Holland & Knight.
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Class Actions At The Circuit Courts: August Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers certification cases touching on classwide evidence of injury from debt collection practices, defining coupon settlements under the Class Action Fairness Act, proper approaches for evaluating attorney fee awards in class action settlements, and more.
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Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Brownfield Questions Surround IRS Tax Credit Bonus
Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.