Commercial
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October 23, 2024
Denver Office Space Saw Record High In Q3, Report Says
Metropolitan Denver office spaces experienced "record-high availability" in 2024's third quarter, according to a report from Savills.
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October 23, 2024
USDA Unveils $1.5B In Conservation, Climate-Smart Projects
The U.S. Department of Agriculture on Wednesday revealed a $1.5 billion investment in 92 partner-driven conservation projects through the agency's Regional Conservation Partnership Program.
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October 23, 2024
Judge Says Ex-Steward Hospital Nurse Row Out Of His Hands
A Texas bankruptcy judge Wednesday declined to order the new owner of former Steward Health Care hospitals in Massachusetts to take back changes to nurses' union contracts it assumed under his sale order, saying it wasn't up to him to make the call.
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October 23, 2024
Skyline Investments Inks $101M Sale Of 11 Courtyards
Skyline Investments Inc. has sold 11 Courtyard-branded hotel properties across seven states for $101 million to unnamed buyers, offloading nearly all of a portfolio the company purchased in 2017, according to a statement from broker Marcus & Millichap Inc.
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October 23, 2024
Securities Claim Cut From Fraud Suit Against Calif. Developer
A California federal judge trimmed a securities claim from a Sonoma resident's suit against a real estate company embroiled in a fraud scandal and recommended that the rest of the claims be brought in state court.
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October 23, 2024
Hunton Real Estate Leader Eyes Deal Volume Uptick In 2025
Real estate investors are closely monitoring the Federal Reserve's next moves, and with the belief that more rate cuts are coming, deal volume will likely pick up next year, one of Hunton Andrews Kurth LLP's real estate leaders told Law360 in a recent interview.
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October 23, 2024
Construction Pro Boosts Cullen And Dykman Litigation Team
Leadership at Cullen and Dykman LLP announced the addition of an attorney specializing in construction law, saying the move gives the regional firm increased capacity to take on high-profile cases.
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October 23, 2024
Jones Day Brings Back RE Ace In Dallas From Winstead
Jones Day announced Wednesday that it is boosting its real estate offerings in Dallas with a returning attorney whose regional knowledge and industry experience will be a "real asset" to clients and who previously practiced in the area with Winstead PC.
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October 22, 2024
'Dewberry' Ruling Doesn't Threaten Corporate Veil, Justices Told
An engineering company that won millions of dollars in a trademark case against a real estate developer that tried to use the "Dewberry" name for a hotel told the U.S. Supreme Court Tuesday to let that ruling stand, arguing that the Fourth Circuit ruling in its favor doesn't undermine the corporate veil.
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October 22, 2024
Real Estate Co. Nets $188M Financing For Industrial Portfolio
Stoltz Real Estate Partners borrowed $188 million to finance its purchase of a 1.9 million square foot infill industrial portfolio comprising 24 buildings located in Nashville and Atlanta, in a financing deal lined up by CBRE, the commercial real estate services company announced Tuesday.
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October 22, 2024
NJ Panel Revives Casino Tax Break Amendment
A New Jersey state appeals court has reinstated an enhanced casino tax break measure that a trial court had deemed unconstitutional, reasoning that the judge neglected to analyze the measure's interplay with the law it amended.
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October 22, 2024
Insurer Wants Payback For Brick Drop On Pa. Law Firm
Bricks and debris fell from an old office building in downtown Pittsburgh, causing more than $51,000 in damage to the roof of Pisanchyn Law Firm, and the insurer of the property housing the firm told a Pennsylvania state court it wants payback.
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October 22, 2024
Wafer Factories Qualify For CHIPS Tax Credit In Final Regs
Semiconductor wafer production facilities will qualify for the 25% investment tax credit that incentivizes advanced chip manufacturing development projects under final regulations the U.S. Department of the Treasury released Tuesday.
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October 22, 2024
Winston & Strawn Boosts Transactions Team With NY Tax Atty
As Winston & Strawn LLP continues to build out its transactions team, the firm has hired a new attorney from Hunton Andrews Kurth LLP with a focus on the tax aspects of real estate financing.
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October 22, 2024
Dechert, Sullivan & Cromwell Guide $3.5B Rockefeller Refi
The owners of New York City's iconic Rockefeller Center have refinanced the complex with a $3.5 billion commercial mortgage-backed securities loan from Bank of America and Wells Fargo, a financing of historic proportions overseen by Dechert and Sullivan & Cromwell.
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October 22, 2024
Madigan Ally's Favors Were '100% Legal,' Not Bribes, Jury Told
Counsel for an ex-lobbyist standing trial on public corruption charges alongside former Illinois House Speaker Michael Madigan told an Illinois federal jury Tuesday that the government is treating legal lobbying activity as bribery, and that his client did "100% legal favors" for Madigan to establish trust and maintain access to the powerful politician.
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October 22, 2024
How Law Firms Get And Keep Elite Status
For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.
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October 22, 2024
The 2024 Prestige Leaders
Check out our Prestige Leaders ranking, analysis and interactive graphics to see which firms stand out for their financial performance, attractiveness to attorneys and law students, ability to secure accolades and positive legal news media representation.
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October 22, 2024
Real Estate Exec Guilty Of $77M WeWork Stock Fraud
A Manhattan federal jury on Tuesday convicted the former CEO of real estate investment firm Arciterra for trying to manipulate the price of WeWork stock via a $77 million tender offer on the cusp of the office-sharing company's bankruptcy filing in late 2023.
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October 21, 2024
$77M WeWork Bid Was Fraud 'From Beginning To End,' Jury Told
New York federal prosecutors made their final pitch on Monday to jurors weighing the fate of the former CEO of real estate investment firm Arciterra accused of manipulating the market through a bogus $77 million tender offer to take control of WeWork, saying it was a sophisticated fraud and not a real play for control of the company.
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October 21, 2024
2nd Circ. Axes Claims Victoria's Secret Mogul Aided Epstein
The Second Circuit on Monday refused to revive a suit accusing billionaire developer and Victoria's Secret tycoon Leslie Wexner, his wife and four of their organizations of facilitating Jeffrey Epstein's sexual assault of a minor, finding the appeal improperly raised new arguments.
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October 21, 2024
Madigan Part Of 'Corruption At The Highest Levels,' Jury Told
Former Illinois House Speaker Michael Madigan and his loyal right hand Michael McClain engaged in an eight-year "campaign of bribery," leveraging his public office and leadership roles to steer business to Madigan's property tax law firm, enrich his allies with do-nothing jobs and maintain his considerable political power, prosecutors told an Illinois federal jury Monday.
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October 21, 2024
9th Circ. Doubts Calif. City Can Sue Over Housing Mandates
A Ninth Circuit panel expressed skepticism Monday that Huntington Beach, California, has standing to sue the state in federal court over California's housing mandates because it's an autonomous charter city, with one judge saying the city "is not some free floating entity that gets to do whatever it wants."
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October 21, 2024
Colo. Tenants Facing Eviction Are Entitled To Jury Trials
The Colorado Supreme Court ruled Monday that tenants in the state have a right to jury trials in eviction actions filed by their landlords if factual disputes exist in the case.
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October 21, 2024
US, Land Donor Settle Fight Over $1.9M Cut To Deduction
The federal government settled a suit brought by a Louisiana partnership that accused the IRS of using a flawed appraisal to drive down its tax deduction for a land donation by nearly $1.9 million, according to Louisiana federal court filings.
Expert Analysis
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A Case Study For Calif. Cities In Water Utility Takeovers
With growing water scarcity and drier weather looming, some local governments in California have sought to acquire investor-owned water utilities by eminent domain — but the 2016 case of Claremont v. Golden State Water is a reminder that such municipalization attempts must meet certain statutory requirements, say attorneys at Nossaman.
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Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Lower Courts May Finally Be Getting The Memo After Ciminelli
A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.
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A Framework For Investigating Commercial Loan Fraud
As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.
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Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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Yellow Corp. Lease Assumption Shows Landlord Protections
Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
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The Clock Is Ticking For Fla. Construction Defect Claims
Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.
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Playing Chess Makes Me A Better Lawyer
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.
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Fishing Makes Me A Better Lawyer
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.
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It's Time To Defuse The Ticking Time Bomb Of US Landfills
After recent fires at landfills in Alabama and California sent toxic fumes into surrounding communities, it is clear that existing penalties for landfill mismanagement are insufficient — so policymakers must enact major changes to the way we dispose of solid waste, says Vineet Dubey at Custodio & Dubey.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
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.
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Ohio Tax Talk: The Legislative Push For Property Tax Relief
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.