Commercial

  • June 13, 2024

    Mich. Co. Claims Mexico Owes $2.7B For Illegal Land Grab

    A Michigan consumer products manufacturer has asked an international tribunal to order Mexico to pay it $2.7 billion, saying the country wrongfully seized 700 acres of the company's agricultural land in the Mexican state of Jalisco.

  • June 13, 2024

    NYC Sued Over Policy Targeting Unlicensed Pot Stores

    More than two dozen New York City retailers have launched a proposed federal class action against the city alleging that enforcement of a new policy targeting stores for selling cannabis without a license has resulted in the unconstitutional closing of hundreds of businesses.

  • June 13, 2024

    Monsanto Can't Plead Ignorance On PCB Pollution, Cities Say

    Chicago suburbs looking to hold Monsanto and related businesses accountable for their financial share of reducing pollutants in water that flows into Lake Michigan urged an Illinois state court to keep their case alive, arguing the companies should have known about the dangers of the chemicals in products.

  • June 13, 2024

    NJ Justices Create New Liability Rule For Property Owners

    The New Jersey Supreme Court on Thursday voted 4-3 to craft a new rule stating that owners of commercial vacant lots have a duty to maintain the public sidewalks abutting the lots, and reinstated a woman's trip-and-fall injury suit.

  • June 13, 2024

    Indicted Ex-Conn. Official Missed Gun Sale Deadline, Feds Say

    Former Connecticut state budget official Konstantinos Diamantis has missed deadlines to remove guns from his residence and claimed he couldn't locate his passport despite orders to surrender it to federal authorities while he awaits trial on bribery and extortion charges, a U.S. probation officer reported Wednesday.

  • June 13, 2024

    CRE Expert Joins Emmet Marvin's Real Estate Finance Group

    Emmet Marvin & Martin LLP announced that the firm has added a partner to its real estate finance group, bringing with her the commercial real estate expertise she gained from Cadwalader Wickersham & Taft LLP.

  • June 13, 2024

    Data Center Developer Secures Upsized $9.2B Investment

    Hyperscale data center campus company Vantage Data Centers on Thursday announced that it secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.

  • June 13, 2024

    Red Roof Had 'Revolving Door' For Trafficking, Ga. Jurors Told

    A former Red Roof Inn Inc. employee and the leader of a nonprofit testified Thursday about sex trafficking they saw take place at two metro Atlanta Red Roof Inn locations as part of a landmark civil trial in which 11 women allege the company knew trafficking was taking place at the locations and did nothing to stop it.

  • June 13, 2024

    Pryor Cashman Aided Developer Fraud, Owes $5.7M, Cos. Say

    New York-based law firm Pryor Cashman LLP has been hit with a $5.7 million lawsuit in state court accusing it of aiding and abetting fraud while representing a real estate developer by allegedly providing false information to another party in a transaction involving a Manhattan property.

  • June 13, 2024

    Ohio Senate OKs Requiring Tax Payments For Property Splits

    Ohio would require delinquent property taxes to be paid before a real parcel was subdivided or transferred and would prohibit tax-delinquent property owners from buying tax-foreclosed property under a bill passed by the state Senate.

  • June 13, 2024

    NYC Real Estate Week In Review

    Willkie, Latham and Milbank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw three deals north of $100 million hit records.

  • June 12, 2024

    Mississippi Casino Developer's Creditors Want To Force Ch. 7

    Creditors for developer Diamondhead Casino Corp., which has been trying for years to build a casino in Mississippi near the Gulf Coast, filed an involuntary bankruptcy petition in Delaware bankruptcy court against the company Wednesday, saying they are owed $2.4 million.

  • June 12, 2024

    CMBS Loan Special Servicers Rack Up Fees — And Lawsuits

    Commercial mortgage-backed securities deals are structured to protect special servicers from litigation, but a recent crop of lawsuits and counterclaims may make it harder for them to continue business as usual.

  • June 12, 2024

    NY Court Strikes Housing Tax Break's Labor Dispute Process

    A New York state court has undercut a provision in a since-expired affordable housing tax break that enabled a city watchdog to issue judgments against developers who underpaid construction workers, deeming the provision unconstitutional because decisions could not be appealed.

  • June 12, 2024

    $18.8M Theft Coverage Suit Must Be Heard In State Court

    A Texas federal judge ruled that a lawsuit brought against an insurer over $18.8 million in theft and vandalism at a Georgia shopping center belongs in state court, refusing to create diversity by removing a plaintiff. 

  • June 12, 2024

    Real Estate Firm Fights CBRE's Bid To Slip Negligence Claim

    A real estate investment firm told an Iowa federal court to reject CBRE Inc.'s dismissal bid in a $10.3 million suit over Iowa property deals that fell through, arguing that CBRE "grossly oversimplifies" the firm's professional negligence claim against it.

  • June 12, 2024

    Texas AG: Wind Project Lease Negotiators Need A License

    Texas' attorney general told the Lone Star State's real estate commission that a person involved in lease negotiations for a wind farm project should have had a license from the commission following a recent project that cast doubt on the requirement.

  • June 12, 2024

    Ohio Tax Board Undoes Vacant Eatery's COVID-19 Value Cut

    An Ohio County Board of Revision erred when it lowered a vacant restaurant property's value after the property owner argued the value had dropped as a result of the COVID-19 pandemic, the state Board of Tax Appeals ruled.

  • June 11, 2024

    Insurer Given Early Exit From Contractor's Cost Overrun Suit

    An insurance company was axed Monday from a general contractor's $8.5 million lawsuit against a developer seeking payment for its work building an apartment complex, with a North Carolina state court judge ruling it was too soon to rope in the insurer.

  • June 11, 2024

    Vornado JV Inks $400M Refi For NYC Office, Retail Building

    A street retail joint venture led by Vornado Realty Trust secured a $400 million refinancing for a 315,000-square-foot office and retail property at 640 Fifth Avenue in Manhattan, according to a statement from Vornado on Monday.

  • June 11, 2024

    WeWork Announces CEO Switch As It Leaves Ch. 11

    WeWork, fresh from the confirmation of its Chapter 11 restructuring plan, said Tuesday it will be led by John Santora, who will take over as CEO as the company leaves bankruptcy behind.

  • June 11, 2024

    Cannabis REIT Will Invest $43M Into Purchased Fla. Land

    Cannabis-focused real estate investment trust Innovative Industrial Properties Inc. plans to invest $43 million into 16 acres of Ocala, Florida, land that it bought for $13 million.

  • June 11, 2024

    Net Lease REIT Sells 2 Office Properties For $60.7M

    Net Lease Office Properties said Tuesday that it has sold two Minnesota office properties leased to Blue Cross Blue Shield for a combined $60.7 million. 

  • June 10, 2024

    3 Firms Guide $125M ND Data Center Construction Loan

    CIM Group announced Monday that the investment firm closed on a $125 million loan to Applied Digital for the company's construction of a North Dakota data center campus, in a deal guided by Simpson Thacher & Bartlett LLP, Milbank LLP and Lowenstein Sandler LLP.

  • June 10, 2024

    NYC Tells 2nd Circ. No Sanctions In COVID Rent Law Suit

    New York City told the Second Circuit that its late-in-the-game jurisdictional arguments don't warrant sanctions amid litigation over pandemic protection for commercial real estate tenants, arguing that it raised the claims as soon as possible.

Expert Analysis

  • Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • Ohio Tax Talk: The Legislative Push For Property Tax Relief

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    As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.

  • Tips For Advising CRE Owners Affected By Houston Storms

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    As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.

  • Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Real Estate Cos. Can Protect Their IP In The Metaverse

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    The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.

  • Ga. Law Creates Challenges For Foreign Ownership Of Land

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    Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.

  • Questions Remain After Mass. Adverse Possession Case

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    A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.

  • 4 Takeaways From Biden's Crypto Mining Divestment Order

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    A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.

  • Insurer Quota-Sharing Lessons From $112M Bad Faith Verdict

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    In Indiana GRQ v. American Guarantee and Liability Insurance, an Indiana federal jury recently issued a landmark $112 million bad faith verdict, illustrating why insurers must understand the interplay between bad faith law and quota-sharing before entering into these relatively new arrangements, say Jason Reichlyn and Christopher Sakauye at Dykema. 

  • Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Look At New IRS Rules For Domestically Controlled REITs

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    The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.