Commercial
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April 15, 2025
Chinese Real Estate Developer Hit With Involuntary Ch. 11
Three creditors of Chinese real estate developer Xinyuan Real Estate Co. Ltd. filed an involuntary bankruptcy petition against the company late Monday, saying it is in default on $170 million in note debt.
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April 15, 2025
Brooklyn Office Space Seeing Leasing Surge, CBRE Reports
New York City's borough of Brooklyn went through "a surge of leasing" for office space after a total of 509,000 square feet was leased in Q1 2025, according to a CBRE report published Tuesday.
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April 15, 2025
Brookfield Lands $1.3B From Citibank For Hudson Yards Office
Brookfield Properties secured $1.25 billion in financing from Citibank on its 16-story Five Manhattan West building in a transaction advised by Dechert LLP and Fried Frank Harris Shriver & Jacobson LLP.
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April 15, 2025
NY Developers Land $237M Refi For Major Mixed-Use Project
The developers behind a 70-acre mixed-use development in Sleepy Hollow, New York, secured a $237 million refinancing for the project from Hudson Bay Capital, per an announcement from Walker & Dunlop which arranged the financing.
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April 15, 2025
Top Grossing Cos. Drift Further From Remote-First Work
The largest companies in the U.S. by revenue are moving away from allowing employees to work primarily at home, including among technology businesses, which were formerly much more permissive of telework, according to a recent report.
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April 15, 2025
Mich. Tribunal Rejects Hotel's Challenge To $10M Valuation
A hotel owned by a Hilton franchisee was valued at $10 million by the Michigan Tax Tribunal, agreeing with a local assessor and reducing a previous valuation by $2.2 million but rejecting a further reduction sought by the owner.
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April 15, 2025
NY Panel Finds 'Lockbox' Suit Differs From Hotel Foreclosure
A split New York state appeals court has found that U.S. Bank can pursue its litigation seeking to seize a "lockbox" of rent payments for a Manhattan hotel, with one justice arguing in a dissent that the instant lawsuit improperly duplicates a related but separate foreclosure action.
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April 15, 2025
DC Maintains, Expands Tax Exemptions For NBA, NHL Arena
The District of Columbia maintained and expanded tax breaks for the property and airspace of Capital One Arena, home to the NBA's Washington Wizards and NHL's Washington Capitals, as part of legislation that became law, according to a notice published in the district's register.
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April 15, 2025
Moye White Says It Was Evicted To Make Way For Tech Co.
Defunct law firm Moye White LLP is fighting back in Colorado state court against its Denver landlord's nearly $4 million lawsuit, alleging in counterclaims that the landlord unlawfully evicted the firm and its subtenants from a downtown office building in order to make room for a technology business.
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April 15, 2025
Giordano Halleran Nabs Real Estate Pro For NJ Expansion
Giordano Halleran & Ciesla PC announced that the firm has added a commercial real estate transaction pro as shareholder, who is spearheading the firm's opening of an office in northern New Jersey.
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April 14, 2025
Expedia Defends Cuban Island Bookings In Helms-Burton Trial
The former manager of Expedia's Cuba group took the stand Monday to defend the travel company's actions offering reservations for resorts on an island off the coast of Cuba that a Cuban-American man says was stolen from his family by Fidel Castro's government, telling jurors the company worked to comply with constantly changing regulations related to travel to Cuba.
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April 14, 2025
6th Circ. Upends Oil Co.'s Injunction Against Ohio Landowner
The Sixth Circuit on Monday reversed a district court's preliminary injunction that gave EOG Resources Inc. access to the surface of an Ohio deer hunting site for drilling operations, saying the injunction didn't prevent injury to EOG but actually caused the owner of the property irreparable harm.
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April 14, 2025
4th Circ. Partly Backs $3.8M Award In 'Dickensian' Lease Row
The Fourth Circuit on Monday partly affirmed and partly vacated a $3.8 million costs and fees award stemming from a soured lease agreement for a commercial building in Baltimore, potentially concluding more than 14 years of what the panel described as "Dickensian litigation."
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April 14, 2025
Allianz Unit Challenges Augusta Golf Club's $2.4M Award
Allianz SE subsidiary Fireman's Fund Insurance Co. on Friday asked a federal judge to strike down a $2.4 million storm damage appraisal in favor of an Augusta, Georgia, golf club that the insurer said goes far beyond what it agreed to cover.
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April 14, 2025
Northwind Lends $90M To Fund 32-Story NYC Office Deal
Northwind Group, a Manhattan-based real estate private equity firm, has provided a $90 million senior first-mortgage loan for a joint venture's acquisition and pre-development of a 32-story, Class A New York City office building that is planned to be converted into apartments, according to a statement.
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April 14, 2025
Developer Buys 1.2M Square Feet Of Texas Industrial Space
Hillwood Investment Properties announced that the industrial real estate company has recently acquired four buildings spanning about 1.2 million square feet across the greater Dallas-Forth Worth metropolitan area.
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April 14, 2025
NJ Casino To Wrap Up Hotel Refresh With $50M In Upgrades
Ocean Casino Resort on Monday said it is planning more than $50 million in improvements to its Atlantic City, New Jersey, property this year that will add 500 new hotel rooms.
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April 14, 2025
Real Estate-Focused SPAC Prepares For $200M IPO
Special purpose acquisition company Timber Road Acquisition Corp. filed documents on Monday that outlined its plans for a $200 million initial public offering in search of merger targets in real estate and consumer industries, with Reed Smith LLP representing the company and Loeb & Loeb LLP as counsel for an underwriter.
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April 14, 2025
Pierson Ferdinand Adds Real Estate Litigator To Philly Office
Pierson Ferdinand LLP continued to grow its Philadelphia roster with the recent addition of a real estate attorney, the firm's second lateral hire in the city in less than a week.
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April 14, 2025
Jacksonville Office Market On The Rebound, CBRE Says
The office market in Jacksonville, Florida, is rebounding because of a major jump in transactions in Q1 2025, CBRE said in a recent report.
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April 14, 2025
NYC Real Estate Week In Review
Simpson Thacher and Seyfarth Shaw are among the law firms that landed work on the largest New York City real estate transactions that hit public records last week, a period that saw sizable transactions across three boroughs.
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April 14, 2025
Ala. High Court Says Condo Incorrectly Classified
An Alabama condominium unit owned by a limited liability company was put in the wrong property class by a trial court, the state's Supreme Court said, because it was not exclusively used as a dwelling by the LLC.
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April 14, 2025
Broward Industrial Demand Steady Even As New Projects Stall
A 15-year streak of positive net absorption in Broward County, Florida's industrial market continued in the first quarter in a sign of resilience, even as development activity tailed off, with no new groundbreakings to start 2025, according to CBRE.
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April 11, 2025
GAO Backs Feds' Setback, Co-Location Terms In Lease Deal
The U.S. Government Accountability Office said the General Services Administration reasonably set colocation and setback requirements in a request for lease proposals to house several agencies in one Wilmington, North Carolina, building, denying a protest that challenged the terms as unnecessary and overly restrictive.
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April 11, 2025
Investor Properly Obtained Tax Liens, Conn. Justices Rule
An investor specializing in tax liens properly obtained assignments from a Connecticut city before seeking to force a social club's property into a foreclosure sale, the state's Supreme Court ruled on Thursday, criticizing how the case unfolded and clarifying a lower ruling that muddied the burden of proof.
Expert Analysis
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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.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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NYC Hotel Licensing Law's Costs May Outweigh Its Benefits
A hotel licensing bill recently approved by New York's City Council could lead to the loss of many nonunionized hotels that cannot afford to comply, says Stuart Saft at Holland & Knight.
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Calif. Ruling Offers Hope For Mitigated Negative Declarations
In Upland Community First v. City of Upland, a California appeals court upheld a warehouse development's mitigated negative declaration over its greenhouse gas emissions thresholds — a rare victory against this type of challenge providing reassurance that such declarations can be upheld, say attorneys at Sheppard Mullin.
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There's No Crying In Property Valuation Baseball Arbitration
The World Series is the perfect time to consider how the form of arbitration used for settling MLB salary disputes — in which each side offers competing valuations to an arbitrator, who must select one — is often ideal for resolving property valuation disputes, say Sean O’Donnell at Herrick Feinstein and Mark Dunec at FTI Consulting.
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Webuild Ruling Complicates Arb. Award Enforcement In US
A Delaware federal court's recent decision in Sociedad Concesionaria Metropolitana de Salud v. Webuild, if read literally, could undercut the United States' image as a proarbitration jurisdiction by complicating creditors' efforts to enforce awards against property in this country, says Jeff Newton at Omni Bridgeway.
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How To Avoid A Costly CPA Limitation Hidden In Most Leases
The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.
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Navigating FEMA Grant Program For Slope Fixes After Storms
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.
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Smith's New Trump Indictment Is Case Study In Superseding
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.
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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.