Residential
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December 09, 2024
Supreme Court Won't Review Ex-HUD Official's Conviction
The U.S. Supreme Court declined to hear the case of a former staffer in the U.S. Department of Housing and Urban Development's Office of Inspector General who was convicted of failing to disclose a loan from a friend who was later hired as a government subcontractor.
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December 09, 2024
NYC Real Estate Week In Review
Fried Frank and Tannenbaum Helpern are among the law firms that handled work on the largest New York City real estate deals that hit public records last week, a period that saw three residential unit trades at one Manhattan building.
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December 09, 2024
Offit Kurman Adds Landlord Attorney In Bethesda Office
Offit Kurman Attorneys At Law said it has added Shelbie Cook as a landlord representation attorney in the firm's Bethesda, Maryland, office.
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December 06, 2024
Billionaires Show New Interest In Texas' Intermediate Courts
Billionaire-backed funding in Texas helped push a wave of Republican judges who swept races for intermediate appellate courts across the state, representing a new level of corporate spending in judicial races often marked by underfunded campaigns and low voter awareness.
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December 06, 2024
J&J Seeks New Talc Trial As Developer Seeks $30M More
As Johnson & Johnson seeks to toss the underlying verdict, a real estate developer and cancer patient who was awarded $15 million in compensation from a talc trial jury has asked a Connecticut state judge to award another $30 million to punish the company for allegedly putting "profits over people."
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December 06, 2024
Advocates Shine Light On Rash Of Deficient Evictions In NJ
A new report from a team of New Jersey housing experts found that as many as 29,000 tenants and tenant families may be evicted in the Garden State every year based on legally deficient complaints. Now they’re calling for greater oversight in the state’s landlord-tenant courts.
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December 06, 2024
CMBS Lending Is Higher Than It's Been In Years
The comedown of interest rates this past year has been a boon for the commercial mortgage-backed securities market, with the amount of issued CMBS up roughly 172% year-to-date as of November, according to Kroll Bond Rating Agency LLC.
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December 06, 2024
$29.75M Deal Proposed To End Del. Latch Inc. SPAC Suit
Attorneys for investors who bought into Latch Inc.'s Tishman Speyer-led, $1.5 billion take-public deal only to see their shares nosedive have tentatively settled consolidated class damage claims for $29.75 million, according to a Delaware Court of Chancery filing.
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December 06, 2024
Huizar's Big Brother Avoids Jail In LA City Hall Bribery Case
The older brother of former Los Angeles City Councilor José Huizar on Friday avoided prison for lying to investigators about his role laundering bribes for the disgraced politician, with a California federal judge crediting the defendant's cooperation after he "finally decided to tell the truth."
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December 06, 2024
NYC Council OKs Mayor's Affordable Housing Plan
The New York City Council passed a package of zoning reforms designed to spur housing production, greenlighting Mayor Eric Adams' City of Yes for Housing Opportunity plan after the city and state agreed to earmark $5 billion in funding to accompany the zoning overhaul.
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December 05, 2024
Property Insurance Policyholders See Hope Amid Headwinds
In a year filled with property insurance challenges ranging from rising rates to limited availability, some policyholders saw gains in favorable state high court decisions, easing regulatory landscapes and insurer accountability.
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December 05, 2024
Rocket Mortgage Sues HUD, Hits Back At DOJ Race Bias Suit
Rocket Mortgage, the largest U.S. mortgage lender, has punched back against housing discrimination claims brought by the U.S. government, countersuing in Colorado federal court to challenge what it argues are "conflicting and irreconcilable" mandates at play.
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December 05, 2024
Freddie Mac Beats Suit Over Payoff Statement Fees, For Now
A Washington federal judge has tentatively let Freddie Mac off the hook in borrowers' proposed class action alleging loan servicer Nationstar Mortgage illegally charged fees for payoff statements, ruling Thursday that Freddie Mac can't be liable for conduct it didn't authorize — even if it did own one loan at issue.
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December 05, 2024
Yardi Must Face Rent-Fixing Suit With Tough Standard
A Washington federal court has refused to dismiss an antitrust case accusing multifamily building owners of conspiring to use Yardi's revenue management software to inflate rental prices and found the claims should be treated as classic price-fixing allegations.
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December 05, 2024
Ohio Court Affirms Nix Of Bid To Double $42M Property Value
An effort to nearly double the $42 million taxable value of a property to its recent sale price was correctly dismissed, an Ohio state appeals court said, upholding a state law barring complaints based on the untimeliness of a sale.
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December 05, 2024
Real Estate Fintech Co. Lands $350M Blue Owl Investment
Real estate fintech company Splitero announced Thursday that it inked a deal with asset management firm Blue Owl Capital, which will use its managed funds to buy up to $350 million worth of home equity investments.
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December 05, 2024
Detroit Needs More Evidence In Census Row, Judge Says
A Michigan federal judge gave the city of Detroit another chance Thursday to prove the U.S. Census Bureau undercounted the city's population and negatively impacted its federal funding, telling the city it wouldn't have standing to sue the federal government without such evidence.
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December 05, 2024
Insurance Litigation Week In Review
The Delaware Supreme Court will review 3M's bid for coverage in multidistrict litigation over defective earplugs, a California state appeals court relieved an insurer of covering a spa owner in an underlying sex abuse lawsuit, and a group of Hartford units said Proctor & Gamble isn't covered for underlying environmental lawsuits.
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December 05, 2024
Airbnb Customers Drop 'Assistance Fee' Suit Against Insurers
A proposed class of Airbnb customers permanently dropped a suit accusing two of the company's insurance providers of violating Washington state law by charging an "assistance fee" when selling travel coverage.
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December 05, 2024
Worker Claims Four Seasons Cheated Employees On Wages
A former Four Seasons employee said the hotel chain cheated Los Angeles employees out of wages, telling a California state court that employees weren't paid for all hours worked.
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December 04, 2024
Amazon, Others Settle With Calif. Over Ex-Criminal Hiring Bias
The California Civil Rights Department has announced it has reached individual settlements with Amazon, Ikea, the Los Angeles Dodgers and other employers over allegations they unlawfully rejected otherwise qualified job applicants based on their criminal history.
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December 04, 2024
Insurer Owes Coverage In Florida Keys Property Sale Dispute
A Florida state appeals court partially reversed a lower court's ruling that an insurer didn't owe two insureds a defense in an underlying suit accusing them of conspiring with a Key West property seller, finding Wednesday there were insufficient allegations to trigger a policy exclusion.
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December 04, 2024
Lowenstein Sandler Adds Real Estate, Capital Markets Attys
Lowenstein Sandler LLP has hired partners for its business litigation and capital markets and securities teams in New York City, the firm announced Wednesday.
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December 04, 2024
Building Contractor Agrees To End No-Hire Pacts
Guardian Service Industries Inc. has agreed to stop enforcing no-hire agreements in its contracts that prevent building owners and managers from hiring the service contractor's employees after pressure from the Federal Trade Commission and state enforcers.
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December 04, 2024
RealPage Says DOJ's Antitrust Markets 'Hide The Ball'
RealPage has urged a North Carolina federal court to throw out the government's antitrust case against it, arguing that enforcers have not shown that use of its software is raising rental rates in any part of the country and that landlords use it to offer competitive rents.
Property Plays: Valley, GSA, A's Stadium
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.
Valley Sells $925M In Loans As Banks Shed CRE Loans
Lenders, especially banks under pressure from regulators, are now taking big steps to distance themselves from commercial real estate. Those strategies include selling even performing loan portfolios at a discount, as well as starting foreclosures to draw buyers.
Duo Launch $1B Office-To-Resi Conversion Venture
Dune Real Estate Partners LP and developer TF Cornerstone announced Tuesday that the pair have launched Alta Residential, a $1 billion venture that will complete office-to-residential conversions in major metropolitan areas nationwide.
Expert Analysis
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Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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'Reverse Redlining' Suit Reveals Language Risks For Lenders
The Justice Department's case against consumer finance provider Colony Ridge highlights the government's focus on lending to consumers with limited English proficiency and the risks of generating marketing materials in other languages while conducting actual transactions in English, say attorneys at Goodwin.
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Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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Hurricane Coverage Ruling Clarifies Appraisal Scope In Fla.
In a case involving property insurance for hurricane damage, a Florida federal court recently enforced policy limits despite an appraisal award exceeding those limits, underscoring the boundaries between valuation and coverage — a distinction that provides valuable guidance for insurers handling post-catastrophe claims, says Tiffany Bustamante at Cozen O’Connor.
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Feds May Have Overstepped In Suit Against Mortgage Lender
The U.S. Department of Justice's lawsuit against Rocket Mortgage goes too far in attempting to combat racial bias and appears to fail on the fatal flaw that mortgage lenders should be at arm's length from appraisers, says Drew Ketterer at Ketterer & Ketterer.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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Philly's Algorithmic Rent Ban Furthers Antitrust Policy Trends
A Philadelphia bill banning the use of algorithmic software to set rent prices and manage occupancy rates is indicative of growing scrutiny of this technology, and reflects broader policy trends of adapting traditional antitrust principles to respond to new technology, say attorneys at Ballard Spahr.
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Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.