Commercial

  • April 29, 2024

    Haynes Boone Relocates SF Office In 6th Firm Move Since Fall

    Haynes and Boone LLP announced Monday that it has moved its San Francisco office to a larger location in the heart of the city's Financial District.

  • April 29, 2024

    Smith Gambrell Adds 4 Attorneys To New York Office

    Smith Gambrell & Russell LLP has added four attorneys in its New York office, two through a merger with a firm that specialized in representing companies from German-speaking countries in the U.S., and two from the recently shuttered Ingram LLP.

  • April 29, 2024

    Google Plans To Invest $3B In Data Centers In Virginia, Indiana

    Google will invest $2 billion into a Fort Wayne, Indiana, data center campus project and also plans to invest $1 billion into three Virginia data center campuses, the company announced.

  • April 29, 2024

    Minn. Tax Court Won't Change Medical Building Value Boost

    The Minnesota Tax Court said it correctly increased the valuation of a medical building, rejecting the building owner's arguments that it improperly applied valuation approaches to the property in a previous decision.

  • April 26, 2024

    How Legos, 'Working Girl' Sealed $10B Sibling Rivalry Win

    A father-son attorney team used Legos and an argument borrowed from the 1988 film "Working Girl" to help a Los Angeles jury understand how their client's own brother illegally stole his multibillion-dollar real estate business, leading to a $10 billion verdict for their client and his other brothers, the attorneys told Law360.

  • April 26, 2024

    Silver Star Drops Federal Securities Suit Against Ex-Chair

    Silver Star Properties agreed to drop its federal suit accusing its former executive chair Allen R. Hartman of trying to get his job back by soliciting shareholders to replace the Texas-based REIT's board of directors, as a similar battle plays out in Maryland state court.

  • April 26, 2024

    Truist Unit Survives Early Dismissal Bid In NC Poaching Suit

    Truist Financial Corp. and its real estate finance arm can move forward with the bulk of their suit accusing three former executives of absconding for a competitor with several dozen colleagues in tow, after North Carolina's business court judge largely denied the defendants an early exit.

  • April 26, 2024

    Blackstone Must Face Claims Of Price-Fixing At Vegas Hotels

    A Las Vegas hotel price-fixing suit against Blackstone and others has survived the private equity firm's motion to dismiss, with a Nevada federal judge ruling the plaintiffs had shown enough to allege Blackstone was in control of one of the target hotels, the Cosmopolitan Hotel, at the time of the alleged scheme.

  • April 26, 2024

    Bankrupt NYC Building Owners, Rent-Strikers Settle Claims

    The bankrupt owners of several Manhattan apartment buildings asked a New York federal bankruptcy court to approve the settlement of the claims of rent-striking tenants, the tenants' debt and a related adversary proceeding.

  • April 26, 2024

    Ga. Residents Want In On $300M Monkey Farm Fight

    Four Georgia residents have asked a federal judge to let them intervene in a dispute over the construction of a sprawling primate-rearing farm in Bainbridge, alleging the local development authority that approved a $300 million bond deal for the project is colluding with the farm's backers to advance the project.

  • April 26, 2024

    Colo. House OKs Lower Age For Historic Structure Tax Credit

    Colorado would reduce the age requirement for the properties eligible for the state's historic structures tax credit, postpone its sunset and make other changes under legislation approved by the state House on Friday.

  • April 26, 2024

    Colo. House OKs Land Cleanup Tax Credit Extension

    Colorado would extend its income tax credit for certain environmental remediation of contaminated property for five years under legislation approved Friday by the House of Representatives.

  • April 26, 2024

    The Week In Trump: Tabloid Testimony, High Court Drama

    Donald Trump and his attorneys have been fighting high-stakes legal battles on several fronts as they grappled with a criminal hush money trial in Manhattan, argued at the U.S. Supreme Court for presidential immunity and tried to quash criminal election interference-related charges in Georgia.

  • April 26, 2024

    Default Risk At Major SF Complex Drives April CMBS Distress

    Kroll Bond Rating Agency said Friday that special servicing on a $1.3 billion loan for one of San Francisco's biggest apartment complexes accounted for more than a third of new distress among commercial mortgage-backed securities this month.

  • April 26, 2024

    Proxy Fight Between Activist Investor, Retail REIT Heats Up

    The battle between activist investor Erez Asset Management and Whitestone REIT picked up steam on Friday, with Erez blasting the shopping center-focused real estate investment trust's claims that a recent board nomination campaign is solely focused on forcing a sale of the REIT. 

  • April 26, 2024

    Greenberg Traurig Inks TPG's Discounted NYC Office Buy

    Greenberg Traurig LLP guided TPG Capital's purchase of a Manhattan office building for $147.5 million, nearly a third of the pricetag paid by seller RREEF Management LLC a decade earlier, according to county property records.

  • April 25, 2024

    Atty Sued For Malpractice Can't Rep His Firm, Ex-Client Says

    A Seattle real estate broker suing her former attorney for allegedly botching arbitration proceedings has told a Washington state judge that that attorney can't both be a defendant and represent his firm in their counterclaims for unpaid fees. 

  • April 25, 2024

    Incarceration Can't Get Default Nixed In $92M Award Suit

    A California federal court has refused to set aside an entry of default against a Russian businessman accused of engaging in a scheme to avoid paying a more than $92 million arbitral award, rejecting his defense that he couldn't respond because he was incarcerated in France.

  • April 25, 2024

    Real Estate Exec Can't Escape Shareholder's Self-Dealing Suit

    A California federal judge ruled that a derivative shareholder suit accusing the president of a real estate management and investment firm of misusing nearly $35 million of company revenue now passes the so-called Zuckerberg test since the plaintiff sufficiently pled that demand on the company's board members would be futile.

  • April 25, 2024

    Tribes, Enviros Want A Say In Grand Canyon Monument Suits

    Three Native American tribes and a slew of conservation groups are asking an Arizona federal district court to intervene in separate lawsuits, seeking to protect an Indigenous sacred site in the Grand Canyon region from losing its National Monument designation.

  • April 25, 2024

    Yellowstone Nabs NYC Office Property At Steep Discount

    Yellowstone Real Estate Investments purchased a Manhattan office tower for $185 million, more than two years after an affiliate of Blackstone Property Advisors LP reportedly stopped making payments on the building's $308 million mortgage, according to a filing prepared by Davis Polk & Wardell LLP.

  • April 25, 2024

    Neb. To Require County Tax Roll Corrections Upon Final Order

    Nebraska county clerks or assessors will be required to correct tax rolls and property assessments when an administrative body or court gives a final order, under a bill signed by the governor.

  • April 25, 2024

    Ore. Tax Court Rejects Lowe's Valuation Reduction Arguments

    A Lowe's home improvement store was properly valued by comparing the sales values for occupied big box home improvement stores, the Oregon Tax Court said in a pair of rulings. 

  • April 25, 2024

    SL Green Demands $13M For Rent, Tax Payments For NYC Bar

    An SL Green entity has asked a New York state court to issue a $13.4 million judgment and enforce a final arbitration award related to rent and other payments for New York City restaurant and bar Rosie O'Grady's sublease.

  • April 25, 2024

    Mich. Pot Group Says Suit Against Town Was Properly Pled

    A group of residents of Lima Township, Michigan, have asked a federal court not to throw out their suit claiming that the township's trustees abused their power by blocking any progress on opening a cannabis dispensary, saying the complaint clearly pleads that their 14th Amendment rights were violated.

Expert Analysis

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • Regulators Must Get Creative To Keep Groundwater Flowing

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    Even as populations have boomed in Sun Belt states like Arizona, California and Texas, groundwater levels have diminished due to drought and overuse — so regulators must explore options including pumping limits, groundwater replenishment and wastewater reuse to ensure future supplies for residential and commercial needs, says Jeffrey Davis at Integral Consulting.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Best Practices For Lenders To Limit Recourse Liability

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    As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Rising Interest Rates Bring Risk For Construction Contractors

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    With rising interest rates causing many construction projects to be slowed or halted, it's important for general contractors to implement safeguard measures against the risk of significant financial losses caused by owner-driven schedule modifications, says Kevin Riexinger at Gfeller Laurie.

  • Keys To Navigating The Post-Pandemic CRE Market

    Excerpt from Practical Guidance
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    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.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • How Rate Exportation Is Shifting Amid Regulatory Trends

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    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.

  • How The Commercial Real Estate Slump May Weigh On Banks

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    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.

  • Negotiating Material Escalation In Construction Contracts

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    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.

  • Landlords Should Prep As WeWork Faces Potential Ch. 11

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    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.