Commercial
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September 25, 2025
Casinos In Queens, Yonkers Advance In Race For Licenses
Two existing New York gaming facilities moved forward in the high-stakes competition for three full casino licenses, after two committees appointed by local elected officials approved their plans.
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September 25, 2025
SmartLabs Accused Of Dodging Rent On Cambridge Lab
Boston-headquartered SmartLabs is facing a lawsuit over millions in unpaid rent owed to the landlord of one of its Cambridge facilities, according to a complaint filed in Massachusetts state court.
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September 25, 2025
Wis. Judge Backs Wildlife Refuge Land Swap Deal
A Wisconsin federal judge has granted summary judgment to the federal government and two utility companies against all claims in a suit filed by conservationist groups that alleged that the government wrongfully approved a land exchange deal with the utilities so the companies could build part of a 101-mile transmission line project through a wildlife refuge.
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September 25, 2025
Holland & Knight Launches Real Estate Dispute Team
Holland & Knight LLP announced it has formed a new real estate disputes and advocacy team, noting the group will provide counsel to clients on lease litigation matters, complex contract claims and other commercial property disputes.
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September 25, 2025
The Torch Tower, With A Thrill Ride, Back Online In Manhattan
Construction has resumed at Extell Development's supertall hotel and thrill ride project in Manhattan known as The Torch, and Law360 has updated the status of that project on its tall buildings tracker.
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September 24, 2025
Tower Developer Linked To Menendez Ally Wants Suit Tossed
The developer behind a disputed high-rise project — once led by a businessman convicted in the bribery scheme involving former U.S. Sen. Robert Menendez — is asking a New Jersey judge to dismiss a lawsuit brought by a neighboring municipality, arguing the case is incurably flawed.
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September 24, 2025
Calf. Property Owner Renews Ch. 11 With $10M+ In Debt
The owner of a lot in California estimated to be worth $46 million renewed efforts to perform a Chapter 11 and address unsustainable debt, having filed for bankruptcy earlier this year but not completing the process.
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September 24, 2025
Hyperscalers Say Spend Hits $400B With 5 New US Sites
OpenAI, Oracle and SoftBank on Wednesday said they are planning five additional U.S. sites to host artificial intelligence data centers, in a step toward spending $500 billion on their Stargate project by the end of 2025.Â
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September 24, 2025
Davis Polk Guides $1B Manhattan Buy Across The Finish Line
New York City recently saw its first single-asset commercial real estate deal above the $1 billion mark in 2025, and a Davis Polk & Wardwell LLP lawyer who worked on the matter told Law360 that the trade is a sign of strength in the Manhattan office market.
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September 24, 2025
Final JC Penney Ch. 11 Distributions On Horizon, Atty Says
Lawyers winding down the bankruptcy estate of department store J.C. Penney told a Texas bankruptcy judge on Wednesday they expect to be able to make final creditor payments shortly, nearly five years after the Chapter 11 plan took effect.
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September 24, 2025
Rick Perry's Data Center REIT Launches Plans For $550M IPO
Fermi America, a venture by former U.S. Energy Secretary Rick Perry to build a 5,000-acre Amarillo, Texas, energy and data center, sought a $13.1 billion valuation Wednesday in an initial public offering guided by Haynes Boone and Vinson & Elkins LLP.
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September 24, 2025
Marsh US Real Estate Leader On Insurance Landscape
Commercial real estate companies, squeezed by higher interest rates in recent years, have also seen a dramatic increase in insurance premiums. Duncan C. Ellis, who leads Marsh's U.S. and Canada real estate and hospitality practice, spoke to Law360 Real Estate Authority about what's behind the trends in commercial real estate insurance.
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September 24, 2025
Ohio House Bill Seeks Approval Rule For Some Property Tax
Ohio would require some political subdivisions to obtain approval from their member governing bodies before imposing property tax above a statutory limit under a bill introduced in the state House of Representatives.
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September 24, 2025
11th Circ. Asked To Combine Easement Deduction Appeals
The Eleventh Circuit should consolidate two cases appealing U.S. Tax Court rulings that cut $47 million in deductions for conservation easement donations, a partnership argued, saying the government's opposition to combining them overlooks the opportunity to save resources.
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September 23, 2025
Task Force Advances $3.5B NYC Marine Terminal Plans
A key task force has advanced the New York City Economic Development Corp.'s $3.5 billion plan to revitalize a 122-acre section of the Brooklyn waterfront, which would modernize and expand the Brooklyn Marine Terminal.
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September 23, 2025
Wilmington Trust Seeks Receiver After $19M Loan Default
A single-asset real estate firm that owns an office building in the Denver Technological Center, or DTC, filed for Chapter 11 and faces a request for a receiver over the building it owns after it defaulted on a $19 million loan last year, according to court filings.
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September 23, 2025
Conn. Atty Denies Blame For Title Co.'s $920K Refinancing Loss
A Connecticut lawyer sought to fend off arguments in state court by Fidelity National Title Insurance Co. that his alleged mistakes on a $2.5 million refinancing led to a $920,000 loss for the insurer, claiming he and the company owed distinct duties to a policy-holder.
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September 23, 2025
Pelorus Kicks Off $1B Fund To Bolster Cannabis Businesses
Pelorus Capital Group has launched a $1 billion fund for investing in marijuana operating businesses to coincide with its existing cannabis real estate strategy, in a bet on the industry's capital needs, the company said Sept. 23.
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September 23, 2025
Star Chef Didn't Violate 'Vague' Pact With Boston, Judge Says
A Massachusetts state court has ruled that a "vague" agreement between celebrity chef Barbara Lynch and the city of Boston to escrow proceeds from the sale of her flagship No. 9 Park restaurant while the city seeks to collect her unpaid taxes doesn't prevent Lynch from using the funds to pay other creditors.
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September 23, 2025
Windels Marx Leads $27.5M Houston Multifamily Financing Deal
Private markets investment firm Siguler Guff & Co. LP originated a $27.5 million mezzanine loan that is part of $86 million worth of refinancing for a 404-unit Houston luxury multifamily property in a mezzanine loan deal guided by Windels Marx.
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September 23, 2025
Savannah-Area Industrial Portfolio Scores $102M Refi
Washington D.C.-based alternative asset manager EJF Capital and Connecticut real estate firm North Signal Capital said Tuesday that they've closed on a $102 million refinancing for an industrial portfolio near Savannah, Georgia.
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September 22, 2025
EB-5 Industry Leaders Ponder Path To Long-Term Future
While the 35-year-old EB-5 investment visa program has been enjoying arguably its strongest period, following recent reforms, the program's fate came up frequently during the Advanced EB-5 Industry Conference last week in Miami — and that was before President Donald Trump signed an order to roll out his own "gold card" investment visa program late Friday.
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September 22, 2025
Catching Up With Delaware's Chancery Court
Last week, Match.com secured approval for a $30M settlement over its 2019 reverse spinoff from IAC, and Vice Chancellor Morgan T. Zurn urged decorum among Delaware lawyers, comparing recent legal turmoil to dark times in British monarchy history. Here's the latest from the Chancery Court.
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September 22, 2025
Developer Gets 8 Years For Fraud That Sunk Belize Project
A Manhattan federal judge sentenced a California real estate developer with a previous fraud conviction Monday to eight years in prison, after a jury convicted him of defrauding investors who backed a big luxury development he controlled called Sanctuary Belize.
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September 22, 2025
2 More NYC Casino Proposals Fold
The last remaining proposal for a casino in Manhattan has failed to obtain a full gaming license in New York City, and, ahead of a vote, local elected officials have also ruled out a Coney Island casino plan.
Expert Analysis
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SEC Signals Opening For Private Fund Investment Reform
At SEC Speaks in late May, the U.S. Securities and Exchange Commission made clear that it's considering allowing registered funds of private funds to be offered broadly to true retail investors, meaning existing funds should review their disclosures focusing on conflicts of interest, liquidity and fees, say attorneys at Stradley Ronon.
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Unicoin Case Reveals SEC's Evolving Enforcement Posture
The U.S. Securities and Exchange Commission's recent fraud allegations against cryptocurrency company Unicoin send a clear message that while the Trump administration supports digital asset development, it will act decisively against deception, inflated valuations and false assurances, says David Zaslowsky at Baker McKenzie.
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Opportunity Zone Revamp Could Improve The Program
If adopted, the budget bill's new iteration of the opportunity zone program could renew, refine and enhance the effectiveness and accountability of the original program by including structural reforms, expanded eligibility rules and incentives for rural investment, say attorneys at Pillsbury.
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Review Risk Is Increasing For Foreign Real Estate Developers
Federal and state government efforts have been expanding oversight of foreign investment in U.S. real estate, necessitating careful assessment of risk and of the benefits of notifying the Committee on Foreign Investment in the United States, say attorneys at Troutman.
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Evolving Federal Rules Pose Further Obstacles To NY LLC Act
Following the Financial Crimes Enforcement Network's recent changes to beneficial ownership information reporting under the federal Corporate Transparency Act — dramatically reducing the number of companies required to make disclosures — the utility of New York's LLC Transparency Act becomes less apparent, say attorneys at Pillsbury.
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Negotiating Triparty Hotel Agreements To Withstand Risk
Brewing economic uncertainty in the hospitality industry underscores the importance of subordination, nondisturbance and attornment agreements, and hotel managers should tightly negotiate these agreements to ensure remedies will not disturb key rights, say attorneys at Sidley.
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CRE Challenges Demand New Lease And Development Plans
As developers and landlords face declining occupancy of commercial, industrial and office space post-pandemic, a combination of business and lease considerations may better position stakeholders to protect the value and profitability of their commercial real estate, says Geoffrey Leskie at Segal McCambridge.
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Ch. 11 Free-And-Clear Sale Ruling Takes Pragmatic Approach
A recent ruling from a New York bankruptcy court in which the debtors were allowed to sell interests free and clear regardless of a lienholder's objection signals a practical approach and a recalibration of the balance between debtor flexibility and creditor protections, say attorneys at Eversheds Sutherland.
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What's At Stake As 9th Circ. Eyes Cultural Resource Damages
In Pakootas v. Teck Cominco, the Ninth Circuit is faced with the long-unresolved question of whether cultural resource damages are recoverable as part of natural resource damages under the Superfund law — and the answer will have enormous implications for companies, natural resource trustees and Native American tribes, says Sarah Bell at Farella Braun.
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5 Insurance Types For Mitigating Tariff-Related Trade Losses
The potential for significant trade-related losses as a result of increased tariffs may cause companies to consider which of their insurance policies, including marine, builders risk, trade credit, and directors and officers, could provide coverage to alleviate the financial impact, say attorneys at Pillsbury.
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Avoiding Pitfalls Around New Calif. Commercial Lease Law
A California law that became effective this year requires commercial landlords to extend certain protections previously afforded to residential tenancies, and a few key provisions of the law especially warrant reexamination of leasing and operational processes, say attorneys at Holland & Knight.
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Measuring And Mitigating Harm From Discriminatory Taxes
In response to new tariffs and other recent "America First Trade Policy" pronouncements, corporations should assess and take steps to minimize their potential exposure to discriminatory and reciprocal tax measures that are likely to come, say economists at Charles River Associates.
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Addressing Tariff Price Escalation In Construction Contracts
As construction projects across the U.S. face uncertainty surrounding material price increases driven by government-imposed tariffs, owners and developers should draft strong contracts to protect themselves from tariff-related cost overruns and delays, say attorneys at Akerman.