Commercial
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May 06, 2025
Ind. Landowners Not Owed For Trail Project, Fed. Circ. Affirms
A group of Indiana landowners aren't owed compensation after claiming that their land was taken for a federal rails-to-trails conversion project, the Federal Circuit has ruled.
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May 06, 2025
NY Says Owner Has To Sell Ski Resort After Antitrust Loss
A New York ski resort operator who a state judge has ruled violated antitrust law by buying a rival and shutting it down should have to sell off one of its properties, preferably the one it shut down, so it can be reopened for next winter, the Empire State is arguing.
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May 06, 2025
Weil, Kirkland Shape $960M PE Digital Infrastructure Deal
Private equity firm TPG said Tuesday that it has agreed to acquire Ohio-based infrastructure asset manager Peppertree Capital Management in a deal worth up to $960 million that was advised by Weil Gotshal & Manges LLP and Kirkland & Ellis LLP.
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May 06, 2025
Moye White Lease Default Left 'Shock', 'Uncertainty,' Co. Says
A Denver landlord fought back against counterclaims lodged by defunct law firm Moye White LLP in Colorado state court, arguing that the firm wasn't wrongfully evicted from its Denver office space and willingly left the property.
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May 06, 2025
Troutman Welcomes Back Private Funds Vet In Philadelphia
Troutman Pepper Locke has rehired private funds attorney Benjamin Mittman in Philadelphia, bringing back a former special counsel as the firm continues to build out its private equity and investment funds group.
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May 06, 2025
Mayer Brown Adds Real Estate Finance Atty In Charlotte, NC
An attorney specializing in commercial real estate financing has recently moved her practice to Mayer Brown LLP's office in Charlotte, North Carolina, after more than 10 years with Dechert LLP.
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May 06, 2025
Pa. Panel Wonders If Mall's Condemnation Appeal Is Moot
The owners of a defunct and half-demolished shopping mall in the Pittsburgh suburbs say the surrounding borough didn't give them enough information to contest the order condemning their property, but judges of a Pennsylvania appellate court questioned Tuesday if the demolition made the issue moot.
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May 06, 2025
Brookfield's Biggest-Yet Real Estate Fund Has Lured In $16B
Brookfield has so far gathered over $16 billion for its latest real estate fund, including $6 billion bagged in the last quarter, setting the fund up to be the asset management giant's largest property investment strategy ever, executives said Tuesday.
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May 06, 2025
3 Firms Guide Blackstone's $150M Manhattan Hotel Purchase
Kramer Levin, Gibson Dunn and Jones Day guided Blackstone's $150 million purchase of a 292-key New York City hotel and a $125 million mortgage refinancing existing debt on the property, per county records.
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May 06, 2025
Fried Frank Reps 70-Year NYU Lease With $935M Upfront Cash
Fried Frank Harris Shriver & Jacobson LLP advised New York University in paying nearly $1 billion upfront to finalize a 70-year master lease for 1.1 million square feet of space in Vornado Realty Trust's 770 Broadway building.
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May 05, 2025
Hotel REIT Forecasts Uncertain '25 Outlook Despite Brisk Q1
Host Hotels & Resorts said economic uncertainty following recent tariff announcements led the real estate investment trust to moderate its outlook for 2025, even as the company reported strong demand in luxury and resort properties for the first quarter.
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May 05, 2025
Shutts & Bowen Takes Aim At Malpractice Suit Over Club Sale
Florida firm Shutts & Bowen LLP and one of its partners pushed back against a real estate corporation's malpractice lawsuit alleging they sank the sale of a country club with a motion requesting the court either transfer or dismiss the case.
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May 05, 2025
5 Firms Pilot Pershing Square's $900M Howard Hughes Deal
Hedge fund Pershing Square will grow its ownership stake in Howard Hughes Holdings and expand the company's business lines beyond real estate development in a $900 million deal put together by five law firms, the companies said Monday.
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May 05, 2025
Insurer Knowingly Skimped On Storm Probe, Texas Court Told
A Houston-area developer's insurer deliberately refrained from a proper investigation after a May 2024 storm and thus came up short on covering losses, the developer told a Texas federal court Monday.
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May 05, 2025
Umpqua Bank Class Seeks Approval Of $55M Ponzi Suit Deal
A class of Umpqua Bank investors has asked a California federal judge to give the initial OK to a $55 million settlement to end a suit alleging the bank helped execute a $300 million Ponzi scheme led by a since-deceased real estate investment manager.
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May 05, 2025
2 Firms Guide $166M Loan For Brooklyn Parcels
Scale Lending LLC, the lending affiliate of Slate Property Group, provided a $166 million construction loan to a business connected to Goose Property Management for three Brooklyn properties in a deal guided by Sheppard Mullin Richter & Hampton LLP and Sheppe LLP, Sheppard Mullin told Law360 on Monday.
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May 05, 2025
NYC Real Estate Week In Review
Fried Frank and Romer Debbas helped out with two of the largest New York City real estate deals that hit public records last week, with a nine-figure transaction leading the way.
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May 05, 2025
BakerHostetler Steers $91.5M Buy For 18 NJ Industrial Acres
BakerHostetler advised New York real estate investor Turnbridge Equities on a $91.5 million purchase of a 17.9-acre industrial property in Bayonne, New Jersey.
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May 02, 2025
Miami Rental Property Sellers Want $1.5M Award Reversed
The sellers of a Miami rental property asked the Eleventh Circuit to reverse a $1.5 million judgment against them over the breakdown of a $5.45 million sale of the property, arguing that the buyer failed to prove that it had the money to pay for the property.
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May 02, 2025
Manhattan Office Leasing Seeing Expected Drop, Colliers Says
The monthly leasing volume of Manhattan office space reached 3.38 million square feet in April, marking a decline since the beginning of March, but an expected one, according to a Colliers report.
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May 02, 2025
Pot Co. Drops Challenge To Mich. City's Licensing Scheme
A would-be Michigan dispensary has dropped its suit alleging that the city of Auburn Hills violated a voter-approved ordinance by awarding a cannabis license to a company it had previously said didn't fit the criteria for one.
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May 02, 2025
Construction Spending Dips In March After Steady Growth
Construction spending in March fell slightly from the prior month to a seasonally adjusted annual rate of $2.196 billion, with slightly reduced spending along nearly all the private and public construction subcategories tracked by the U.S. Census Bureau.
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May 02, 2025
Phoenix Industrial Project Deliveries, Starts Balance In Q1
The Phoenix industrial market saw 7.3 million square feet of new space delivered in the first quarter, while new construction slowed to its lowest level since 2020, balancing one of the top U.S. markets for net absorption, according to commercial broker Colliers.
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May 02, 2025
Nixon Peabody Appoints Finance, Tax Partner As DC Leader
Nixon Peabody LLP has appointed a more than 20-year veteran of the firm as its Washington, D.C., office managing partner, who focuses his practice on a range of corporate, finance and real estate matters, according to a Thursday announcement.
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May 02, 2025
Colorado Investor, Ex-Counsel Trade Blows In Malpractice Suit
A Colorado real estate investor and Fox Rothschild LLP have filed a flurry of motions in a legal malpractice suit, with the investor requesting that the firm be found liable for damages amid its representation in an underlying fight over a soured development deal, and the firm contending the investor abandoned a claim over attorney fees.
Expert Analysis
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Hedging Variable Interest Rates In A Volatile Market
Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.
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Parsing FTC's Intercontinental-Black Knight Merger Challenge
The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.
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Effectual Relief Questions Linger After Section 363 Ruling
In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.
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3 Alternatives To CRE Collateralized Loan Obligations
With current commercial real estate market conditions pushing issuers away from collateralized loan obligations, several Freddie Mac offerings should be considered as alternative exit strategies for mortgage loans secured by multifamily properties, say attorneys at Mayer Brown.
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Ga. Banking Brief: All The Notable Compliance Updates In Q2
Legislation signed into law in the second quarter of the year in Georgia tackled a broad range of issues that will affect financial institutions, from money laundering and consumer protection to commercial financing disclosures and a lengthy cleanup of the banking and finance code, says Elizabeth Garner at Parker Hudson.
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Sackett Ruling, 'Waters' Rule Fix Won't Dry Up Wetlands Suits
In the wake of the U.S. Supreme Court's recent ruling in Sackett v. U.S. Environmental Protection Agency narrowing the scope of Clean Water Act protections, the Biden administration is amending its rule defining "waters of the United States" — but the revised rule will inevitably face further court challenges, continuing the WOTUS legal saga indefinitely, say attorneys at Milbank.
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Fla. Banking Brief: All The Notable Compliance Updates In Q2
Florida financial institutions must now navigate minimum interest rates for attorney trust accounts, restrictions on property sales to prohibited foreigners, and a ban on weighing environmental, social and governance factors to determine a customer's creditworthiness — changes that will add to banks' compliance pressures, says Patricia Hernandez at Avila Rodriguez.
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NY, NJ Regs Give Clarity To Cannabis Investors, Ancillaries
Proposed laws and regulations in New York and New Jersey would clarify some previously murky legal waters, thus expanding the ability of investors, lenders and ancillary service providers to work with marijuana business in these states, say David Waxman and Heidi Urness at McGlinchey Stafford.
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What To Expect From High Court's Whistleblower Case
The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will likely have widespread implications for the future of anti-retaliation whistleblower litigation, and could make it more difficult for would-be whistleblower-employees to succeed on anti-retaliation claims under the Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at Sullivan & Cromwell.
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RICO Ruling Makes US More Attractive Foreign Creditor Forum
The U.S. Supreme Court's decision in Yegiazaryan v. Smagin, allowing a foreign plaintiff to use the Racketeer Influenced and Corrupt Organizations Act to enforce a foreign arbitral award, will make judgment creditors more likely to seek out U.S. courts to remedy efforts to frustrate the enforcement of international arbitration awards, say attorneys at Paul Hastings.
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5 Strategies For Restructuring Underperforming CRE Loans
With commercial real estate industry conditions expected to deteriorate further in the coming months, market participants should consider a number of strategies to help resolve challenged investments, ranging from financial restructurings to project phasing, say attorneys at Ballard Spahr.
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Post-Ciminelli Predictions On Right-To-Control Convictions
The recent Second Circuit filings in Binday suggest that the government will fight to preserve its right-to-control convictions in the wake of the U.S. Supreme Court's Ciminelli decision, and offer clues about key issues that will drive post-Ciminelli litigation, say attorneys at Debevoise.
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Steps To Success For Senior Associates
Excerpt from Practical Guidance
Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.