Commercial
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June 24, 2025
Scottsdale Insurance Ends Coverage Fight Over Mall Shooting
Scottsdale Insurance Co. informed a Florida federal judge on Tuesday it has settled its suit seeking an order that it doesn't owe coverage to the owner of a shopping plaza hit with a $1 million personal injury suit brought by a man who was shot in the plaza parking lot.
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June 24, 2025
Fox Rothschild Hires Veteran Real Estate Atty For Minn. Office
Fox Rothschild LLP has brought on board an experienced commercial real estate transactions attorney for a counsel role in its Minneapolis office, the firm announced on Tuesday.
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June 24, 2025
NJ Agency Fights $26M Property Taking Verdict In Ch. 11
A New Jersey development agency pushed back against a move in bankruptcy court by the owner of a former tire factory site to collect a $25.6 million jury verdict stemming from the agency's decision to condemn the property and make way for housing.
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June 24, 2025
Texas Narrows Discovery Allowance In Property Tax Appeals
Texas district courts can't order discovery in property tax cases unless the discovery is requested by the appealing party under a bill signed by Gov. Greg Abbott.Â
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June 24, 2025
Plymouth Nabs $193M Ohio Industrial Portfolio
Plymouth Industrial REIT Inc. announced that it has purchased a 1.95 million-square-foot portfolio of industrial properties located across three Ohio submarkets from an affiliate of Investcorp for $193 million.
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June 24, 2025
Macerich Real Estate Co. Buys Mall In Raleigh, NC For $290M
The Macerich Co. has picked up a 1.3 million-square-foot mall in North Carolina's capital city of Raleigh for $290 million, according to a Tuesday announcement.
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June 24, 2025
Alaska Must Challenge Tribe's Gaming Hall In Home State
The state of Alaska must challenge federal approval for an Alaska Native tribe's gaming hall on its home turf and not in Washington, D.C., a D.C. federal judge ruled.
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June 24, 2025
Ohio School Board Can't Appeal Property's Valuation
An Ohio commercial property improperly had its value raised to $27.8 million, the state Board of Tax Appeals ruled, finding jurisdiction was lacking for a school board's appeal that resulted in the increase.
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June 24, 2025
V&E Adds Investment, Finance Trio In NY, Texas
Vinson & Elkins LLP has brought on three new partners to strengthen its investment management and finance practices.
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June 24, 2025
Simpson Thacher Guides $575M Loan For Times Square Office
In two loan deals guided by Simpson Thacher & Bartlett LLP, Apollo Global Management Inc. borrowed more than $575 million for a Times Square office skyscraper that's going to be converted into a residential building, according to official property records filed Tuesday.
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June 24, 2025
GSA Chooses Site For New Conn. Federal Courthouse
The U.S. General Services Administration selected a 2.19-acre parking lot in Hartford, Connecticut, as the home for a new federal courthouse, which it says will be operational by 2030.
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June 23, 2025
9th Circ. Revives Antitrust Counterclaims Against CoStar
A Ninth Circuit panel on Monday revived counterclaims accusing CoStar of monopolizing commercial real estate information markets in the company's case accusing a rival of engaging in "industrial-scale" copyright infringement.
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June 23, 2025
NC County Can't Deny Church Rezoning Bid In Land Use Fight
Officials in a rural North Carolina county likely violated a religious land use law when rejecting a church's rezoning bid and are barred from denying the organization's request, a federal judge ruled.
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June 23, 2025
3 Firms Guide Record-Setting $1.15B DC Wharf Refinancing
A Washington, D.C., mixed-use development led by Canadian pension fund PSP Investments has closed on a $1.15 billion refinancing, with Milbank LLP, Pillsbury Winthrop Shaw Pittman LLP and Davies Ward Phillips & Vineberg LLP advising the borrowers on the deal, according to a Monday news release.Â
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June 23, 2025
Taft Expands Fla. Footprint With Private Client Duo In Naples
Taft Stettinius & Hollister LLP announced Monday that it is expanding in Naples, Florida, with a pair of new private client partners, just ahead of a June 30 merger that will grow the firm in West Palm Beach and Stuart.
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June 23, 2025
Takings Not Enough To Lower Lot Value, Mass. Board Says
A half-acre parking lot in Massachusetts was not overvalued by a local assessor despite temporary and permanent takings by the state highway department during road construction, the state Appellate Tax Board said in a decision released Monday.
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June 23, 2025
Goldman Sachs Real Estate VP Rejoins Haynes Boone In NY
A former Haynes & Boone LLP attorney has returned to the firm's New York office as a real estate finance partner after leaving for three years to become a vice president on Goldman Sachs' real estate investment team.
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June 23, 2025
NYC Real Estate Week In Review
Fried Frank and BakerHostetler are among the law firms that scored work on the top New York City real estate deals that hit public records last week, with deals in Manhattan and the Bronx leading the way.
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June 23, 2025
Proxy Adviser Doubts Activist Plan For Senior Living Operator
An independent proxy advisory firm recommended Monday that Brookdale Senior Living shareholders support most of the company's board nominees at a July meeting, questioning activist investor Ortelius Advisors' strategy to unload assets and leases.
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June 23, 2025
No Break For Early Pay After Late Postmark, Ore. Court Says
An Oregon company could not show that its property tax payments were mailed before the due date for receiving a discount for early payments, the state tax court said.
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June 23, 2025
Va. City Wants Out Of Landfill Co.'s Suit Over Land Use Law
The Virginia city of Chesapeake argued in Virginia federal court that a landfill owner's suit over an amended city land use law should be tossed because the owner hasn't actually been punished under the law and hasn't indicated that they're going to violate it.
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June 23, 2025
Oregon Lawmakers OK Extending Brownfield Tax Breaks
Oregon would extend its program of local property tax incentives for brownfield development by six years under legislation passed by the state House of Representatives.
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June 23, 2025
Terreno Pays $49.5M For Southern Calif. Industrial Property
Terreno Realty Corp. paid $49.5 million to an unidentified seller to acquire a fully leased, 134,000-square-foot Santa Ana, California, industrial distribution property that's also a retail location, the industrial real estate company announced Monday.
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June 23, 2025
IRS Updates Coal Closure Areas For Energy Community Perk
The IRS released Monday an updated list of counties with shuttered coal manufacturing operations and other locations used to determine a clean energy development project's eligibility to get a boost in tax credits for being in communities that historically relied on the fossil fuel industry.
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June 23, 2025
Ore. Lawmakers OK Barring Farm Tax Break For Illegal Pot
Oregon farmland would lose eligibility for a tax break if its owner is found to be illegally growing marijuana on it under legislation approved by state lawmakers.
Expert Analysis
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How Fla. Bankruptcy Ruling May Affect Equity Owners
A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.
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Calif. Ruling May Open Bankruptcy Trustees To Tort Liability
In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.
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Considerations For Navigating Mixed-Use Developments
As mixed-use developments continue to rise in popularity, developers considering this approach to urban planning must be aware of key considerations ranging from title and zoning laws to proper engagement with stakeholders, says Mehdi Sinaki at Michelman & Robinson.
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1st Tax Easement Convictions Will Likely Embolden DOJ, IRS
After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.
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Compliance Primer: Foreign Investment In US Real Property
The rise in foreign investment in U.S. real property, especially agricultural land, has led to increased national security concerns, meaning it’s important to understand reporting requirements under the Agricultural Foreign Investment Disclosure Act and state-level statutes, and to monitor legislative proposals that could create more stringent reporting and review processes, say attorneys at K&L Gates.
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How CRE Loans Would Shift Under New Bank Capital Rules
Attorneys at MoFo discuss how commercial real estate loans would fare under federal banking agencies' proposed changes to how large banks risk-weight loans, particularly how CRE loans are weighed based on the current standardized framework versus the proposed expanded approach.
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Calif. GHG Disclosure Law Will Affect Companies Worldwide
California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.
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What Retail Landlords Must Know About Permitted Transfers
As trying economic times require tenants to create options to cease their operations by transferring their lease obligations to other parties, retail landlords must give significant thought to how permitted transfers are drafted, and how parties are to be protected in the present and the future, says Scott Grossfeld at Cox Castle.
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Proactive Measures While NY Foreclosure Law Is In Limbo
While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.
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EB-5 Investment Period Clarification Raises More Questions
U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.
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A Guide For Landlords Pivoting To Medical Office Buildings
The current commercial real estate landscape presents a unique opportunity for landlords, real estate developers and investors to accommodate the growing health care industry's need for office buildings, though proper navigation of complex regulations and leasing concerns is necessary, says Mehdi Sinaki at Michelman & Robinson.
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NY Co-Ops Must Avoid Pitfalls When Navigating Insurance
In light of skyrocketing premiums, tricky exclusions and dwindling options, New York cooperative corporations must carefully review potential contractors' insurance policies in order to secure full protection, as even seemingly minor contractor jobs can carry significant risk due to New York labor laws, says Eliot Zuckerman at Smith Gambrell.
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What To Consider When Converting Calif. Offices To Housing
In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.