Commercial
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July 09, 2024
Mich. Property Tax Elimination Fails To Get On 2024 Ballot
A constitutional amendment that would have eliminated Michigan's property taxes will not appear on the 2024 state ballot after its backers failed to submit the signatures needed to qualify, the secretary of state's office confirmed Tuesday.
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July 09, 2024
Dentons Advises $115M For Stalking Horse Hotel Buy
Dentons guided the financing for a bankruptcy sale of Brooklyn, New York's, William Vale hotel to EOS Hospitality for $177 million in a stalking horse bid approved by a bankruptcy judge in May.
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July 09, 2024
House Dems Seek Info From DOI Over Alleged Shale Cartel
House Democrats sitting on the House Natural Resources Committee penned a letter Tuesday seeking information from the U.S. Department of the Interior concerning eight oil companies accused of colluding with the Organization of Petroleum Exporting Companies to artificially inflate gas prices.
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July 09, 2024
Hospital Operator Leads 2 IPOs Ready To Raise $465M Total
Hospital operator Ardent Health and insurance distributor TWFG Inc. unveiled price ranges this week on initial public offerings that are expected to raise about $465 million combined under guidance by four law firms, adding life to the summer IPO market.
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July 09, 2024
Alston & Bird Brings In Sidley Trio To Launch New Offices
Alston & Bird LLP announced on Tuesday that it has opened two new offices in Chicago and Century City with the addition of three lateral partners from Sidley Austin LLP, a move the firm said will strengthen its corporate, healthcare and real estate practices.
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July 09, 2024
RMR Group Provides $40M For Boston Hotel Refi Loan
RMR Group affiliate Tremont Realty Capital said it has provided $40 million to refinance a Boston-area hotel.
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July 09, 2024
Procopio Advises $430M Refi For Luxury Austin Hotel
In a deal guided by Procopio Cory Hargreaves & Savitch LLP, Manchester Financial Group has secured a $430 million refinancing with a commercial mortgage-backed securities loan from Goldman Sachs for the luxury Fairmont Austin hotel, according to broker JLL.
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July 09, 2024
Fla. Agrees To Stronger CWA Protections For Piney Point Site
Conservation groups said they've reached an agreement with the Florida Department of Environmental Protection to settle litigation over a phosphogypsum facility in Manatee County, with state regulators agreeing to a draft Clean Water Act permit for the site.
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July 09, 2024
BP Unit Slams 'Farfetched' $300M Franchise Termination Suit
The trio of companies that sued a BP subsidiary for terminating their truck stop franchise agreement have no claim to make, the BP unit told an Ohio federal court, arguing that by their own admission the companies failed to hold up their end of the agreement at issue.
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July 09, 2024
NJ Power Broker, Firm CEO Deny Racketeering Charges
Powerful New Jersey businessman George E. Norcross III, his prominent attorney brother and others on Tuesday denied that they schemed to acquire waterfront property in the distressed city of Camden by threatening to ruin the business reputations and finances of key stakeholders.
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July 08, 2024
Fried Frank Guides $295M Financing For Kushner's NJ Project
Real estate developer and manager Kushner Cos. LLC obtained $295 million in construction financing for the second phase of its 1,723-unit, mixed-use skyscraper project in Jersey City, New Jersey, in a loan deal advised by Fried Frank Harris Shriver & Jacobson LLP, the firm said on Monday.
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July 08, 2024
Real Estate Lender Closes $390M In Senior Housing Deals
Real estate lender Dwight Capital and its real estate investment trust affiliate wrapped up $390.4 million in financing for senior housing across the U.S. in 2024's second quarter, the lender announced Monday.
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July 08, 2024
Feds Aim To Expand Military Site List For Land Deal Reviews
The U.S. Department of the Treasury on Monday proposed putting 59 more military sites on its radar when it reviews real estate deals for national security issues, a move that comes on the heels of the White House's crackdown on a Chinese-owned cryptocurrency mine near a Wyoming air base.
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July 08, 2024
Morrison Cohen Launches Luxury Brands Practice
Morrison Cohen LLP announced Monday the launch of a luxury brands practice designed to offer more holistic counsel to high-end companies like Valentino, Louis Vuitton, Salvatore Ferragamo and more.
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July 08, 2024
Frost Brown Adds Former Solo Land Use Atty In Calif.
Frost Brown Todd LLP has brought on a former solo practitioner and veteran California attorney with expertise in the state's environmental quality act in the firm's San Francisco office, the firm announced Monday.
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July 08, 2024
Willkie Real Estate Ace Jumps To Gibson Dunn In NY
Gibson Dunn & Crutcher LLP has added to its New York office an experienced attorney who previously chaired Willkie Farr & Gallagher LLP's real estate finance practice and who also spent more than a decade at Dechert LLP.
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July 08, 2024
Landowners Defend Wyo. Antitrust Claims Against Anadarko
Wyoming landowners accusing an Occidental Petroleum Corp. unit of antitrust behavior are urging a federal judge to reject its bid for a win on their state law claims as the case heads toward a trial.
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July 08, 2024
Feds Seize $63M LA Estate Tied To Armenian Bribe Probe
The U.S. Department of Justice said Monday that it will seize a $63 million Los Angeles estate that it claims was bought with bribe payments for the family of a former Armenian government official.
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July 05, 2024
11th Circ. Won't Touch $9.7M College Hurricane Coverage Win
The Eleventh Circuit ruled Friday that a district court unlawfully certified a partial judgment in favor of The Baptist College of Florida for review in a $13 million insurance coverage dispute for hurricane damage costs.
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July 05, 2024
How Reshaped Circuit Courts Are Faring At The High Court
Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.
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July 05, 2024
Breaking Down The Vote: The High Court Term In Review
The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court's ideological divisions on vivid display. Here, Law360 takes a data dive into the numbers behind this court term.
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July 05, 2024
High Court Flexes Muscle To Limit Administrative State
The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has established the October 2023 term as likely the most consequential in administrative law history.
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July 05, 2024
The Sharpest Dissents From The Supreme Court Term
The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest decisions fell along partisan lines.
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July 05, 2024
5 Moments That Shaped The Supreme Court's Jan. 6 Decision
When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 splits, what accounts for the departure? Here are some moments from oral arguments that may have swayed the justices.
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July 05, 2024
The Funniest Moments Of The Supreme Court's Term
In a U.S. Supreme Court term teeming with serious showdowns, the august air at oral arguments filled with laughter after an attorney mentioned her plastic surgeon and a justice seemed to diss his colleagues, to cite just two of the term's mirthful moments. Here, we look at the funniest moments of the term.
![Among two back-to-back U.S. Supreme Court opinions was one handed down Friday overturning the long-held Chevron doctrine that deferred ambiguous legislation to agency interpretation, giving courts the final say if Congress hasn't specified implementation details. (AP Photo/Alan Diaz)](https://cdn.statically.io/img/assets.law360news.com/1852000/1852990/14784de40480c4d56b5a998b7501d2c369d41dcb-bf71f498f9bf4cebbd345770c1e2fbea_earns-chevron_2400x2892.jpg)
Real Estate Policy Areas To Watch In Chevron's Wake
Housing rules, permitting practices and climate goals stand to be challenged by an anticipated wave of litigation spurred by back-to-back U.S. Supreme Court opinions that alter how and when judges can interpret ambiguous legislation.
![The General Services Administration's attempt to cut back its footprint in Washington, D.C., has caused the vacancy rate for the city's office market to hit a record high of 22.4%, according to a report from CBRE. (AP Photo/Jacquelyn Martin, File)](https://cdn.statically.io/img/assets.law360news.com/1853000/1853325/469da37e5235ce1ca59c1cb8e5c51c7aae85e1af-federal_fleet_unrepaired_recalls_75935.jpg)
Gov. Office Shedding Pushes DC Vacancies To Record High
The General Services Administration's moves to cut back its footprint in Washington, D.C., drove the vacancy rate for the city's office market to a record high of 22.4%, with nearly half of the previous quarter's occupancy loss stemming from federal government lease changes, according to CBRE.
![Goldman Sachs Alternatives has raised $3.4 billion in capital commitments for its latest real estate secondaries fund. (Sipa via AP Images)](https://cdn.statically.io/img/assets.law360news.com/1853000/1853009/f1b87e9cddb83c38e56c47deb35057109b18265d-photo_illustration_in_india_-_18_dec_2023_88356.jpg)
Property Plays: Goldman, WaFD, The Alamo
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
Expert Analysis
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Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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The Often Overlooked NY Foreclosure Notice Requirements
As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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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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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.