Commercial

  • February 28, 2024

    Real Estate Group Of The Year: Hogan Lovells

    Hogan Lovells oversaw a busy 2023 that included successfully defending real estate investment trust Life Storage from a hostile takeover attempt, advising on billions in transactions in the real estate investment trust space and guiding clients to a direct listing on the New York Stock Exchange, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 28, 2024

    SEC Expands Focus On Regional Bank CRE Exposure Risk

    Eight more regional banks have joined the ranks of those prompted by the U.S. Securities and Exchange Commission to divulge more information about their commercial real estate exposure and efforts to manage risk in those loan portfolios.

  • February 28, 2024

    Kilpatrick Moving NY Office To 'Crossroads Of The World'

    Commercial real estate company Rudin said it has finalized a lease with Kilpatrick Townsend & Stockton LLP to relocate its New York City office to 3 Times Square.

  • February 27, 2024

    CARES Act Not For Violent Tenants, Court Says, Creating Split

    A Washington appellate panel said Monday that the CARES Act eviction notice only applies to tenants who are late on rent, not when landlords want to quickly oust violent tenants, in an opinion that differs from a recent ruling from another state appellate panel.

  • February 27, 2024

    Wash. Judge Asks If COVID 'Fire Sale' Should Impact Tax Plan

    A Seattle city attorney asked a Washington state appeals court on Tuesday to let the city keep a $160 million special property tax in place to fund waterfront improvements, as one judge questioned during oral arguments whether diminished property values post-pandemic should make the city recalculate the tax.

  • February 27, 2024

    La. Comfort Inn Owner Ordered To Arbitrate $2.6M Storm Suit

    A Louisiana federal judge has ordered the owner of a Comfort Inn outside New Orleans to arbitrate a $2.6 million suit against its insurer over coverage for damage from Hurricane Ida, saying its insurance policy compels arbitration.

  • February 27, 2024

    Chinese Real Estate Giant KE Holdings Gets IPO Suit Trimmed

    A New York federal judge tossed a swath of claims against Chinese real estate giant KE Holdings and its executives in an investor suit claiming they overstated the number of agents and stores on its platform, which a short seller later said was false, leading the stock price to drop.

  • February 27, 2024

    Commanders Unveil Stadium Upgrades Amid Possible Move

    The Washington Commanders on Tuesday announced a total of $75 million in upgrades to its current home stadium that includes new premium seating and a new sound system, amid a battle to determine where the NFL team will play in the future.

  • February 27, 2024

    Developer, Nonprofit Borrow $242M For Queens Properties

    Entities connected to New York City developer Gotham Organization Inc. and nonprofit RiseBoro Community Partnership borrowed a more than $242 million mortgage loan from the city's government, including its Department of Housing Preservation and Development, for a number of properties located in Queens' Long Island City neighborhood, according to official records released Tuesday.

  • February 27, 2024

    Macy's To Cut Stores, Focus On Luxury Amid Proxy Fight

    Macy's announced a plan Tuesday to close 150 stores, add new luxury-focused locations and monetize at least $600 million worth of its assets as it faces a proxy fight from activist investors that offered $5.8 billion for the company last month.

  • February 27, 2024

    Philly Gun Shop Ban Doesn't Flout 2nd Amendment

    Philadelphia's zoning code barring gun shops close to residential neighborhoods didn't violate a shooting range's Second Amendment rights, because the location of a shop isn't part of the fundamental rights covered by the amendment, a Pennsylvania appellate court ruled Tuesday.

  • February 27, 2024

    Law Firm Leasing Activity Reaches Pre-Pandemic Level

    Major firm relocations in late 2023, including Paul Weiss Rifkind Wharton & Garrison LLP's December deal for a 20-year lease in a midtown Manhattan skyscraper, helped fuel the hottest legal office space market since before the COVID-19 pandemic.

  • February 27, 2024

    McDermott Appoints 4 Real Estate Leaders in US, Germany

    McDermott Will & Emery LLP announced four new real estate practice leaders on Monday, elevating a longtime partner in Germany and three newer hires in the U.S.

  • February 27, 2024

    DC Plans $400M In Upgrades To Back Struggling Downtown

    Washington, D.C., Mayor Muriel Bowser has rolled out a plan to spend $401 million over the next five years to improve the city's downtown as it suffers from rising office vacancies and braces for two professional sports teams to leave for suburban Virginia.

  • February 27, 2024

    Real Estate Group Of The Year: Greenberg Traurig

    Greenberg Traurig LLP attorneys helped the Metropolitan Transportation Authority complete the development of a major train terminal in New York City and advised a $2 billion transaction in which a Japanese real estate firm bought a 50% stake in a Manhattan office tower, landing the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • 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 on Feb. 26.

  • 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.

Expert Analysis

  • 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.

  • The Year Ahead In Foreign Investment And National Security

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    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • Sale-Leasebacks May Provide A Safe Financing Alternative

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    Amid rising interest rates and unpredictable market conditions, sale-leasebacks can be a useful investment option for both buyers and sellers, though their potential drawbacks demand careful consideration, says Chanel Di Blasi at Crosbie Gliner.

  • 5 Recent Developments Family Offices Are Watching In 2024

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    Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.

  • A Challenging CRE Environment Holds Opportunities In 2024

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    As the commercial real estate market faces reduced occupancy levels and rising financing costs, the new landscape will be favorable to those who can leverage capital, strategic vision and expertise to meet challenges like taking on distressed properties and converting office space to residential use, say Nesa Amamoo and Vered Rabia at Skadden.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • 3 Developments That Will Affect Hospitality Companies In 2024

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    As the hospitality industry continues its post-pandemic recovery, it faces both challenges and opportunities to thrive in 2024, including navigating new labor rules, developing branded residential living spaces and cautiously embracing artificial intelligence, says Lauren Stewart at Sheppard Mullin.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • The 4 Top Philadelphia Commerce Court Opinions Of 2023

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    Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.