Commercial

  • February 27, 2024

    Troubled REIT Finds Lifeline In $941M Bond Offering

    Diversified Healthcare Trust, which doubted its ability to survive mounting debt issues last year, no longer faces an existential threat due to proceeds it netted from a $941 million senior secured notes offering, an executive of the real estate investment trust said.

  • February 27, 2024

    Sheppard Mullin Guides $60M Queens Construction Loan

    Sheppard Mullin represented lender Slate Property Group in connection with a $60.25 million construction loan for a mixed-use project in Queens, the law firm told Law360.

  • February 26, 2024

    Timeshare Settlement Can't Stop Additional Consumer Suit

    A Washington marketing firm must face negligent misrepresentation and consumer protection claims over links to a timeshare-exit company, according to a Washington federal judge who ruled that a group of consumers seeking refunds are not barred from suing because of a settlement in another case.

  • February 26, 2024

    NYC, Chelsea Hotel Take Shots In $100M Renovation Suit

    New York City and the owners of the historic Chelsea Hotel took swipes at each other in federal court as ongoing discovery disputes escalated in the owners' suit alleging city agencies unlawfully held up needed renovation work and cost them $100 million.

  • February 26, 2024

    Mich. Justices Told Case Deadlines Tied To Litigants' Rights

    A property management company has told the Michigan Supreme Court it should reaffirm that case filing deadlines are "substantive" policy matters because they are essential to litigants' right to be free from stale claims, as the court is expected to decide whether it improperly extended a grace period to filers during the pandemic. 

  • February 26, 2024

    ArentFox Guides $50M Loan For 2 Queens Towers

    ArentFox Schiff LLP guided a mortgage loan deal that involved the owner of the two mixed-use, 50-story 5Pointz towers in Queens, borrowing a $50 million Fannie Mae loan, according to official records.

  • February 26, 2024

    NJ Town Justified Hospital-Only Zone, Appeals Panel Says

    A New Jersey municipality may be able to exclude nursing homes from an area zoned for hospitals, a Garden State appeals panel ruled Monday, reasoning that a trial court order disallowing the maneuver relied on case law that's factually distinct. 

  • February 26, 2024

    Yellow Corp. Gets Nod On New Procedures For Injury Claims

    Trucking company Yellow Corp. will use its insurance policies to deal with only certain claims from people alleging they were injured by its vehicles under new procedures a Delaware bankruptcy judge approved Monday, after the debtor resolved objections from parties who said its earlier plans would have violated their rights.

  • February 26, 2024

    Holland & Knight Adds Mayer Brown RE Pro In Houston

    Holland & Knight LLP is boosting its realty team, announcing Monday it is bringing in a longtime Mayer Brown LLP real estate expert as a partner in its Houston office.

  • February 26, 2024

    Akerman Hires Real Estate Atty From Vinson & Elkins In NYC

    Akerman LLP added another partner this month to its New York office, hiring a counsel at Vinson & Elkins LLP for its real estate practice in the city Monday.

  • February 26, 2024

    Real Estate Group Of The Year: Fried Frank

    Fried Frank Harris Shriver & Jacobson LLP helped clients close deals last year for the development of prominent additions to the New York City and Las Vegas skylines, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 23, 2024

    Tribal Biz Atty Must Meet Calif. DA Over Greenhouse Wreckage

    A California federal judge has ordered the lawyer for a business owned by a tribal conglomerate to attend a hearing with San Bernardino County's district attorney, saying the lawyer must explain why he forced the DA to file a unilateral status report about the destruction of illegal cannabis greenhouses.

  • February 23, 2024

    La. Hotel Owner Must Arbitrate Hurricane Ida Damage Claims

    A Louisiana federal judge has ordered the owner of an extended-stay hotel near New Orleans to go to arbitration with a group of insurers over coverage for damage caused by Hurricane Ida, finding that the policy under dispute contains a valid arbitral clause.

  • February 23, 2024

    Health REIT Hid Halted $375M Equity Stake Deal, Suit Says

    A Medical Properties Trust Inc. shareholder accused the hospital-focused real estate investment trust in Maryland federal court of hiding the California government's halting of a $375 million equity stake transaction with a healthcare management services company.

  • February 23, 2024

    Travelers Can't Duck Payout In Warehouse Fire Reversal

    A New York federal court has rejected Travelers' bid for additional discovery in a coverage dispute involving a textile importer whose goods were destroyed in a warehouse fire, after the Second Circuit vacated the insurer's early win in December and remanded for a judgment in the importer's favor.

  • February 26, 2024

    New York Pandemic Coverage Ruling Offers Few Surprises

    Businesses seeking insurance coverage for their pandemic losses were dealt yet another loss recently by New York's top court, a ruling that didn't surprise attorneys watching to see whether the Empire State might buck the trend of carrier victories.

  • February 23, 2024

    Bankrupt REIT Gets Ch. 11 Reorganization Plan Approved

    A subsidiary of Silver Star Properties REIT Inc. received approval Friday for its Chapter 11 reorganization plan that will channel its remaining property assets into a Delaware subsidiary free and clear of all creditor claims.

  • February 23, 2024

    Entertainment REIT Expands Scope Beyond Casinos, Gaming

    Vici Properties executives said Friday that, amid a somber deals environment, the "experiential" real estate investment trust is looking to create or foster partnerships outside the casino and gaming industry.

  • February 23, 2024

    REIT, Loan Guarantors Spar Over Venue For $70M Loan Suit

    A real estate investment trust and loan guarantors traded blows in California federal court over remanding the REIT's suit accusing the companies of owing payments for nearly $70 million in loans.

  • February 23, 2024

    Greenberg Traurig Adds Real Estate Shareholders In Fla., LA

    Greenberg Traurig LLP has added two shareholders to its global real estate practice, with one attorney based in Florida while the other is based in California and Texas.

  • February 23, 2024

    Polsinelli Real Estate Atty Made Co-Manager Of Chicago Office

    A Polsinelli PC shareholder and experienced real estate attorney has been tapped to co-manage the firm's 200-person Chicago office, the BigLaw firm announced.

  • February 23, 2024

    With Interest, Trump Now Owes $454M For NY Valuation Fraud

    Donald Trump owes New York state nearly a half billion dollars after a county clerk on Friday tacked on $99 million in interest linked to a $355 million judgment in the state attorney general's civil fraud case against the former president last week.

  • February 23, 2024

    Work Starts On Clean Microgrid For Calif. Wildfire Backup

    Pacific Gas & Electric and developer Energy Vault have started work on a project to build a microgrid drawing power from hydrogen fuel cells and batteries that could run a northern California town for at least two days during outages due to wildfire risks.

  • February 23, 2024

    Faegre Drinker Advising White Sox Lobby For New Ballpark

    The Chicago White Sox are pitching Illinois lawmakers on a plan to develop a new ballpark on a South Loop property called "The 78" in a move across town, with Faegre Drinker Biddle & Reath LLP joining Fox Rothschild LLP in advising the team in the state Legislature.

  • February 23, 2024

    These Are The Hottest Trends In Law Firm Design

    Out with the law library and in with Zoom rooms? Law360 Pulse recently talked to architects and legal employers to find out what the biggest trends are in law firm design.

Expert Analysis

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

    Author Photo

    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Contract Disputes Recap: The Terms Matter

    Author Photo

    Stephanie Magnell and Zachary Jacobson at Seyfarth examine recent decisions from the U.S. Civilian Board of Contract Appeals, the Armed Services Board of Contract Appeals and the U.S. Court of Federal Claims, which offer reminders about the importance of including contract terms to address the unexpected circumstances that may interfere with performance.

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

    Author Photo

    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

    Author Photo

    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.

    Author Photo

    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'

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.