Commercial
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April 30, 2025
Gov't Properties REIT Tapped To Build Oregon Courthouse
The General Services Administration has selected Easterly Government Properties Inc. to build a new federal courthouse in Oregon and inked a 20-year, noncancelable lease for the site once construction is complete, the real estate investment trust announced.
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April 30, 2025
K&L Gates Hires Ex-White & Case Atty As Partner In Australia
K&L Gates LLP announced it has brought on a former White & Case LLP attorney as a partner for its energy, infrastructure and resources team in its Melbourne, Australia, office.
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April 30, 2025
Has Student Housing's Big Moment Just Begun?
A post-pandemic supply crunch and trends in college enrollment have set the student housing industry up for what might be its strongest decade yet, according to Newmark's top deal broker for the sector.
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April 29, 2025
Life Sciences REIT Says Tariffs Won't Affect Current Projects
An Alexandria Real Estate Equities Inc. executive said during a Tuesday earnings call that tariffs "are not expected to have a material influence" on the yields of the current development and redevelopment projects of the life sciences-focused real estate investment trust.
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April 29, 2025
Koi Nation Can't Intervene In Casino Row, Court Told
The Federated Indians of Graton Rancheria is fighting a bid by a fellow California tribe at the crux of a dispute over the Interior Department's decision to take 70 acres into trust for the construction of a proposed hotel and casino project, arguing it lacks any justification to do so.
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April 29, 2025
Perkins Coie Leads 2 SPAC Listings Raising $300M Combined
Two special-purpose acquisition companies, under similar leadership teams and represented by Perkins Coie LLP, began trading Tuesday after pricing initial public offerings that raised a combined $300 million.
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April 29, 2025
Fried Frank Advises Ralph Lauren On $132M SoHo Retail Buy
Fashion brand Ralph Lauren completed a purchase of a SoHo retail condominium that it has occupied since 2010, with Fried Frank Harris Shriver & Jacobson LLP guiding the company on the deal.
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April 29, 2025
2 Firms Guide $205M Financing For Lender-Seized NYC Office
A group of South Korean insurance companies led by Ocean West Capital Partners took out $205 million in financing on a Midtown Manhattan office tower after foreclosing on prior owner RFR Realty earlier this month, in a deal advised by DLA Piper LLP and King & Spalding LLP.
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April 29, 2025
Welltower Reports $6.2B In Q1 Deals, Surpassing 2024 Results
Executives of healthcare real estate investment trust Welltower on Tuesday touted the company's work closing more acquisitions during this year's first quarter than it did in all of 2024, ahead of expected economic uncertainty in the year ahead.
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April 29, 2025
Hotel Construction Falls In Third Straight Month, CoStar Says
The volume of hotel rooms under construction across the U.S. fell for the third consecutive month in March, according to figures from real estate analytics company CoStar.
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April 28, 2025
Wash. Judge Tosses Investor's $42M Real Estate Con Suit
A federal judge in Seattle threw out a Las Vegas investment company's lawsuit accusing four businessmen of a $42 million fraud scheme, saying on Monday that the firm hasn't shown a "substantial part" of the allegations occurred in western Washington.
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April 28, 2025
Greystone Lends $41M For Minn. Nursing Homes Buy
Greystone provided a $41 million interest-only, nonrecourse bridge loan for Oxford Capital Group LLC's acquisition of six Minnesota assisted living facilities that have a total of 372 beds, Greystone announced Monday.
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April 28, 2025
Wells Fargo Says Atty Is To Blame For SEC's EB-5 Fraud Suit
An immigration attorney claiming a Wells Fargo adviser led her astray has no one to blame but herself for being sued by the U.S. Securities and Exchange Commission for EB-5 investment fraud, the company told a Nevada federal court.
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April 28, 2025
NYC Real Estate Week In Review
Simpson Thacher and Goulston & Storrs are among the law firms that guided the largest New York City real estate deals to hit public records last week, with a pair of Brooklyn matters topping the list.
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April 28, 2025
Commanders Agree To NFL Stadium Deal, Return To DC
The Washington Commanders will move from their current home in Maryland to a $3 billion stadium at the site of their previous stadium in D.C., team and city officials announced Monday, less than two years after the Commanders were bought by new ownership and less than four months after the federal government transferred control of the site to the city.
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April 28, 2025
REIT Closes $109M Freddie Mac Loan On 7 Senior Living Sites
Healthcare property owner Diversified Healthcare Trust on Monday said it had closed on a $109 million mortgage from Freddie Mac, secured by seven senior living sites in seven states, in a refinancing effort.
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April 28, 2025
Latham Advises REIT's $340M Stock Offering
Retail-focused real estate investment trust Agree Realty Corp. signed a forward sale agreement in which the REIT made a more than $340 million public offering of 4.5 million shares of its common stock for the price of $75.70 apiece, in a deal guided by Latham & Watkins LLP, the law firm announced.
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April 28, 2025
Holland & Knight Guides $98M NYC Retail, Office Refi
An affiliate of New York City-based developer Bruman Realty LLC secured a $98.2 million refinancing from Starwood Mortgage Capital LLC for a Brooklyn mixed-use redevelopment, in a deal guided by Holland & Knight LLP.
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April 28, 2025
Latham-Led StepStone Real Estate Clinches $3.77B 5th Fund
Latham & Watkins LLP-advised StepStone Real Estate on Monday revealed that it clinched its fifth flagship fund with $3.77 billion in tow.
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April 28, 2025
Md. Expands Tax Break For Biz-Owned Child Care Property
Maryland expanded eligibility for a property tax credit for Anne Arundel County businesses that dedicate a portion of their property to child care services under a bill signed by the governor.
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April 28, 2025
High Court Won't Hear Michigan Tribe's Land Trust Dispute
The U.S. Supreme Court declined to hear a Michigan tribe's arguments that the federal government must take 73 acres into trust for a casino venture outside Detroit, after it told the justices that without the decision its ability to achieve economic self-sufficiency would be forever impaired.
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April 25, 2025
Texas High Court Keeps Alive REIT's 'Short And Distort' Suit
The Texas Supreme Court found that a farmland-centered real estate investment trust's suit against a Dallas-based hedge fund could continue, but in a Friday opinion it also said a bid to dismiss the suit under the state's anti-SLAPP law could proceed on the merits.
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April 25, 2025
Migration Agency Faces $100M EB-5 Investor Fraud Suit
A group of Chinese investors have filed a proposed class action accusing a Washington-based migration agency and a real estate investment group manager of fraudulently raising $100 million from overseas investors pursuing permanent U.S. residence via the EB-5 program with property that has now been auctioned off.
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April 25, 2025
Under The Radar: Bankruptcy News You May Have Missed
Tupperware looked for permission to end healthcare reimbursements for roughly 230 employees; Heritage Coal's owners asked a Delaware bankruptcy judge to allow the company to complete a permit transfer as part of a pre-Chapter 11 sale; and Film Finance Inc., behind productions including "Everything Everywhere All At Once," sought to have its Chapter 11 case dismissed. Here are some of the bankruptcy stories you may have missed last week.
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April 25, 2025
Fried Frank Guides $350M Starwood Refi On FiDi Tower
Fried Frank Harris Shriver & Jacobson LLP advised a $350 million refinancing provided by Starwood Property Trust for Manhattan's 125 Greenwich supertall luxury condo tower.
Expert Analysis
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Keys To Navigating The Post-Pandemic CRE Market
Excerpt from Practical Guidance
As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.
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How Rate Exportation Is Shifting Amid Regulatory Trends
All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.
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How The Commercial Real Estate Slump May Weigh On Banks
The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.
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Negotiating Material Escalation In Construction Contracts
As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.
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Landlords Should Prep As WeWork Faces Potential Ch. 11
After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.
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Key Drivers Behind Widespread Adoption Of NAV Financing
While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.
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Conn. Ruling Highlights Keys To Certificate-Of-Need Appeals
The Connecticut Supreme Court's recent decision in High Watch Recovery Center v. Department of Public Health, rejecting rigid application of statutes concerning certificate-of-need procedure, provides important guidance on building an administrative record to support a finding that a case is contested, say attorneys at Robinson & Cole.
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Pickleball Makes Waves In Fla. Real Estate, With Risks In Play
Pickleball's burgeoning popularity in Florida is catalyzing a transformation in the state's commercial real estate market, but investors must take steps to navigate legal challenges related to noise, insurance and community dynamics, says Emmanuelle Litvinov at DarrowEverett.
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4 Business-Building Strategies For Introvert Attorneys
Excerpt from Practical Guidance
Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
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What Calif. Pot Permit Ruling Means For Enviro Compliance
While a California appeals court's recent decision in Lucas v. City of Pomona affirms the city's use of a statutory exemption for its commercial cannabis overlay permit program, the ruling does not mean that all applicants seeking similar approvals are exempted from state environmental compliance obligations, say Whitney Hodges and Barbara Machado at Sheppard Mullin.
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Rare Reg A+ Fines Reflect New Era Of SEC Enforcement
The U.S. Securities and Exchange Commission's recent announcement of civil penalties against 10 microcap companies for violations of Regulation A+ shows that as the SEC continues to expand its enforcement efforts, its focus remains on protecting investors of all sizes — including those investing in the historically less-scrutinized Reg A+ issuers, say attorneys at Crowell & Moring.
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Factors To Consider When Structuring Data Center Contracts
Data center leases and service agreements grant very similar rights and impose similar obligations, but they also hold notable differences and a range of factors that are important to consider when selecting which form of agreement to use, say attorneys at Mayer Brown.
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Rethinking Mich. Slip-And-Fall Defense After Top Court Ruling
The Michigan Supreme Court recently overturned three decades of premises liability jurisprudence by ruling that the open and obvious danger defense is no longer part of a traditional duty analysis, posing the question of whether landowners will ever again win on a motion for summary dismissal, say John Stiglich and Meriam Choulagh at Wilson Elser.