Commercial

  • February 22, 2024

    FTC Looks Into Mobile Mini's $3.8B Bid For McGrath RentCorp.

    The Federal Trade Commission wants more information on storage container giant WillScot Mobile Mini's plan to snap up business-to-business storage rental company McGrath RentCorp. for somewhere in the neighborhood of $3.8 billion.

  • February 22, 2024

    Texas Investor Wants Ruling For 3M Campus Loan Suit Tossed

    A Texas resident has urged a New York federal court to vacate a January order holding him liable for a guaranty of a $64 million loan borrowed to fund a now-foreclosed 3M office campus, arguing that the newly discovered evidence warrants a trial.

  • February 22, 2024

    Ex-HFZ Capital Chief Denies $86M Real Estate Fraud Charges

    The former head of troubled real estate firm HFZ Capital Group has pled not guilty in New York state court to dozens of criminal charges alleging he spearheaded a series of theft and tax fraud schemes that netted more than $86 million in total.

  • February 22, 2024

    REIT Says Spirit Buy Will Spur 'Robust Growth In 2024'

    Realty Income Corp. touted its $9.3 billion all-stock purchase of fellow real estate investment trust Spirit Realty Capital Inc. in its fourth-quarter earnings call and emphasized patience and discipline for dealmaking in the coming year.

  • February 22, 2024

    Host Hotels REIT Wants To 'Kick Deals Loose' To Buy In '24

    Executives with luxury hotel real estate investment trust Host Hotels & Resorts Inc. said during an earnings call Thursday that the company is stocked with capital and ready to grow the company through acquisitions in 2024, even though attractive properties for sale are expected to remain scarce.

  • February 22, 2024

    Starwood Sees Opportunities In Regional Banks' Troubles

    Starwood Property Trust executives told investors that as interest hikes continue to bear heavily on regional banks, the real estate investment trust sees opportunities in middle-market lending, a gap the regional banks had previously filled.

  • February 22, 2024

    Venable Hires Ex-Smith Gambrell Construction Partner In NY

    Venable LLP announced Wednesday the hiring of a former partner at Smith Gambrell & Russell LLP for its construction law group in New York.

  • February 22, 2024

    Brazilian Heiress' Daughter Can't Escape Colo. Collection Suit

    The daughter of a Brazilian heiress must face claims that she stashed money for her mom to avoid a nearly $20 million court judgment, after a Colorado state judge said a creditor has alleged enough signs of fraud for the allegations to proceed.

  • February 22, 2024

    Va. Oil Terminal's Tax Value Upheld By Appeals Court

    A petroleum terminal was correctly valued by a local assessor at about $63 million for 2018 and $66 million for 2020, the Virginia Court of Appeals said, rejecting the owner's argument that the property's business prospects had plummeted, lowering its value.

  • February 22, 2024

    NY Ruling Spares Trump Org The Ax But Puts Up Guardrails

    A New York judge listened to his critics by deciding not to ban Donald Trump and his companies from doing business in New York entirely with a ruling last week forcing the former president and his affiliates to pay $364 million for overvaluing his real estate assets, a former assistant U.S. attorney said.

  • February 22, 2024

    Convicted Chicago Pol Seeks Acquittal Or New Trial

    One of Chicago's longest serving and most powerful local politicians asked an Illinois federal judge Wednesday to set aside a jury's December verdict convicting him of using his official position to steer tax business to his personal law firm, saying no rational jury could have convicted him based on the evidence presented at trial.

  • February 22, 2024

    ATV Accident Coverage Win Remanded Over Kid's Residency

    A Missouri appeals court remanded a lower court's decision over whether a father's farm insurance covered the $1 million in damages inflicted on his daughter after an ATV accident, saying that the central question of whether the child resided at her father's home or at his ex-wife's was still unresolved.

  • February 22, 2024

    Md. House OKs Fee On Unpersuasive Property Tax Appeals

    Maryland's taxpayers would face a $100 fee if they are unable to persuade the state's Tax Court to revise high-dollar valuations of income-producing property under a bill passed Thursday by the state's House of Delegates.

  • February 22, 2024

    IRS Failed To Investigate Tax Exemption Abuses, Justices Told

    A group claiming the IRS has ignored abuses of tax-exempt status by certain issuers of mortgage-backed investments asked the U.S. Supreme Court to review a ruling affirming the agency's discretion, saying billions of dollars in taxable income are at stake.

  • February 21, 2024

    NY Judges Question Lehman's Bid To Undo CDS Trial Loss

    A panel of New York appeals court judges on Wednesday appeared reluctant to undo a bench trial loss Lehman Bros.' bankrupt European unit suffered last year in a suit attempting to clawback nearly half a billion dollars from Assured Guaranty over alleged losses on credit default swaps tied to the 2008 financial crisis.

  • February 21, 2024

    Judge Rejects $5.2M Atty Fee Bid In Poultry Farm Loan Suit

    A New York federal judge rebuffed attorneys' attempt to collect a nearly $5.2 million fee for representing an affiliate of two billionaire brothers that accused an investment adviser of fraudulently inducing the affiliate to provide a loan for a Russian poultry operation, saying the adviser wasn't improperly defending himself.

  • February 21, 2024

    Cannabis CEOs Wasted Wealthy Russian's Money, Suit Claims

    Two California businessmen who were given $145 million by a now dead Russian billionaire to begin cannabis growing operations in the state are accused of gross mismanagement and squandering his investment, according to a lawsuit filed in Los Angeles County court.

  • February 21, 2024

    Public Storage Leaders See Hope After Post-Pandemic Dip

    Public Storage executives reported Wednesday that after a tough 2023, with self-storage demand dropping from pandemic highs, performance in some markets indicates investors will begin to see stabilization later this year.

  • February 21, 2024

    CoStar, Hotel Giants Accused Of Data-Driven Price-Fixing

    Hilton, Hyatt and other big name hotel operators are the target of a proposed class action alleging they colluded with hospitality industry analytics firm CoStar Group Inc. to fix prices in luxury hotel markets in Seattle and other major U.S. cities, according to a suit filed in Washington federal court.

  • February 21, 2024

    Rite Aid Gets OK To End Former Queens Store Lease

    Rite Aid Corp. was given permission Wednesday to reject a lease and sublease for a former store in Queens, New York, after a New Jersey bankruptcy judge found that doing so would benefit the debtor's estate.

  • February 21, 2024

    Calif. Bill Would Let AG Audit Private Equity Healthcare Deals

    California Attorney General Rob Bonta and Assembly Speaker Pro Tempore Jim Wood have filed legislation that will give the state's AG oversight of private equity and hedge fund acquisitions of healthcare facilities, saying that private equity is causing soaring consumer costs.

  • February 21, 2024

    Feds Found Responsible For Leased Building's Contamination

    The Civilian Board of Contract Appeals has ruled that the federal government is liable for piscicide contamination of a building long used by the U.S. Fish and Wildlife Service, but is on the hook only for diminished value and not full restoration.

  • February 21, 2024

    1st Circ. Won't Revive $19M Casino Deal Suit Against Wynn

    The First Circuit affirmed the dismissal of a real estate executive's suit claiming Wynn Resorts reneged on a handshake deal to pay him $19 million for helping it obtain a casino license, pointing to an opinion from Massachusetts' top appellate court saying the agreement is unenforceable on public policy grounds.

  • February 21, 2024

    Atlantic City Hotels Want Room Rate Suit Tossed

    Atlantic City casinos said on Tuesday a suit alleging they conspired to inflate room rates should be tossed, arguing it doesn't show there was any kind of agreement between the casinos and that its claims are partially time-barred.

  • February 21, 2024

    Holland & Knight Adds Jones Walker Real Estate Atty In Miami

    Holland & Knight LLP announced it has brought on a former Jones Walker LLP attorney as a partner for its real estate capital markets team in Miami.

Expert Analysis

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

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    As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • ESG Around The World: Canada

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    In Canada, multiple statutes, regulations, common law and industry guidance address environmental, social and governance considerations, with debate over ESG in the business realm potentially growing on the horizon, say attorneys at Blakes.

  • How Lease Obligations Can Affect Subchapter V Debt Cap

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    Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.

  • Trends That Will Shape The Construction Industry In 2024

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    Though the outlook for the construction industry is mixed, it is clear that 2024 will bring evolving changes aimed at building projects more safely and efficiently under difficult circumstances, and stakeholders would be wise to prepare for the challenges and opportunities these trends will bring, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Adjusting Deals To Reflect Shifts In The CRE Market

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    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.

  • 4 International Arbitration Trends To Monitor In 2024

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    Global growth slowed substantially in 2023, and may continue into 2024 due to geopolitical instability, which could fuel four key trends in international arbitration in the coming year, including investor-state and commercial arbitration, an increase in arbitration out of China, and more, say Gregory Litt and Sharmistha Chakrabarti at Skadden.

  • How DOI Aims To Modernize Resource Damage Assessments

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    The U.S. Department of the Interior's recent proposal to redesign its Type A rule for conducting natural resource damage assessment and restoration activities could lead to a more streamlined, flexible assessment process that would benefit both natural resource trustees and potentially responsible parties, says Brian Ferrasci-O'Malley at Nossaman.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.