Commercial
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June 11, 2025
Green Energy Co. Lands $206M For Geothermal Project
Fervo Energy announced Wednesday that it has secured $206 million in additional capital to aid with the ongoing development of a 500-megawatt geothermal power plant in Beaver County, Utah, with commitments from new and existing partners.
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June 11, 2025
Mandarin Can Get Reserves, Reinsurance Info In COVID Row
"All risks" property insurers for Mandarin Oriental Inc. must turn over documents related to their reinsurance and reserves to the luxury hotel chain, which claims it incurred over $223 million in business interruption losses from the COVID-19 pandemic, a New York federal court ruled.
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June 11, 2025
Legal Hurdles To Watch For On Real Estate Secondary Deals
Advising real estate investors and fund managers on secondary transactions can be relatively painless if you know what to do. Here are some of the most important legal issues attorneys say they must work out when helping clients in this space.
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June 11, 2025
Firms Plug $190M Into Luxury Hospitality Biz Cipriani
Private equity firm Beach Point Capital Management LP, advised by Sidley Austin LLP, and multistrategy investment manager Sparta Capital Management Ltd. on Wednesday announced that they have agreed to provide a $190 million financing loan to luxury hospitality company Cipriani, led by Paul Hastings LLP, to support its growth.
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June 11, 2025
Trade Groups Revive Suit Over Colo., Denver Efficiency Rules
A collection of trade groups renewed their arguments in Colorado federal court against rules set by the state and city of Denver establishing energy efficiency standards for buildings and limiting the use of natural gas appliances after the policies underwent a recent revision.
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June 11, 2025
Greenspoon Marder Atty Says Hotels Are 'Scared To Death'
Months into President Donald Trump's trade war, hotels are largely not yet feeling the effects of tariffs but are "scared to death" at what could come, Greenspoon Marder's hospitality leader told Law360 Real Estate Authority.
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June 11, 2025
Ares Wraps Inaugural $2.4B Japanese Data Center Fund
Private equity giant Ares Management Corp. said Wednesday that it wrapped its first fund dedicated to data center investment and development after securing $2.4 billion of investor commitments.
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June 11, 2025
Assura Backs Sweetened £1.7B KKR, Stonepeak Offer
Healthcare property manager Assura said Wednesday that it has backed a sweetened £1.7 billion ($2.3 billion) final offer from U.S. private equity shops KKR and Stonepeak, ending a months-long bidding war with a British real estate investment trust.
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June 10, 2025
Fla. Fraud Suit Cited In Threat To $300M Project's Ch. 11 Plan
The debtors of a $300 million real estate development in Florida cited challenges in working through its Chapter 11 case on Tuesday, telling a federal bankruptcy judge that an insurance heiress's state court lawsuit against her former financial adviser threatens to derail a restructuring plan.
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June 10, 2025
9th Circ. Revives Real Estate Investor Securities Suit, Again
The Ninth Circuit on Tuesday once again revived a proposed securities class action accusing investment guru Grant Cardone of making misleading social media statements to sell interests in his companies' real estate investment funds, holding, among other findings, that the complaint sufficiently alleged Cardone "subjectively disbelieved" certain stated projections.
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June 10, 2025
NYC Says Hotel Chelsea Holdups Not Politically Motivated
New York City urged a federal court to ink an end to allegations that agencies improperly held up construction work on the storied Hotel Chelsea, arguing that city officials reasonably believed the hotel's owners needed a specific certificate to continue with renovations.
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June 10, 2025
CoreCivic Buys $67M Va. Immigrant Detention Center
CoreCivic Inc. on Tuesday announced plans to buy a 736-bed immigrant detention center in Farmville, Virginia, for $67 million, operated under a contract between the county and U.S. Immigration and Customs Enforcement.
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June 10, 2025
Judge Denies Calif. Tribe's Bid To Restore Gaming Eligibility
A D.C. federal judge Tuesday declined to reinstate a California tribe's gaming eligibility for a casino-resort project in the San Francisco Bay Area while the U.S. Department of the Interior reassesses its approval, ruling that the tribe hasn't shown it would be imminently harmed by the eligibility suspension.
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June 10, 2025
Power Co. Asks Justices To Settle Split In Tribal Tax Dispute
Arizona courts were wrong to rule that an energy company located on tribal land is subject to property taxes, the company told the U.S. Supreme Court on Tuesday, urging it to address an "intolerable" state-federal split.
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June 10, 2025
Tribes' Effort To Overturn Ore. Casino Land Decision Halted
A D.C. federal court judge hit pause on a bid by three tribes to vacate the U.S. Department of the Interior's final determination and environmental impact statement in a dispute over the agency's decision to take land into trust for Oregon's Coquille Indian Tribe for a proposed casino project.
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June 10, 2025
LA Real Estate Agent Admits Obstructing IRS
A Los Angeles commercial real estate broker pled guilty to obstructing the Internal Revenue Service's attempts to collect thousands of dollars in unpaid taxes by willfully hiding his income and assets from the agency, the U.S. Department of Justice announced Tuesday.
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June 10, 2025
Insurer Seeks Exit From Missouri Tree-Cutting Dispute
An insurer that separately insured a farm and a man accused by the farm of trespassing on its property and cutting down "valuable trees" told a Missouri federal court it should owe no coverage to the man, pointing to an exclusion for damage to vegetation.
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June 10, 2025
Foreign Investor Greenlit On Civitas' Hawaii EB-5 Resort
Dallas-based investment manager Civitas Capital Group said Tuesday that federal officials have approved a Chinese-based investor's contribution to Silverwest Hotels LLC's planned 210-room Hilton hotel on Kauai, Hawaii.
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June 10, 2025
Crane Owner Seeks To Shift Blame In Fatal Fla. Collapse
A Florida judge on Tuesday allowed Maxim Crane Works to try to shift blame to a fellow contractor facing a lawsuit over a crane collapse in downtown Fort Lauderdale that killed a worker and injured at least two other people.
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June 10, 2025
Amazon Plans To Invest $20B In Pennsylvania Data Centers
Amazon will invest $20 billion to build data center campuses in Pennsylvania and create 1,250 jobs, the state's governor announced.
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June 10, 2025
Denholtz Hires GC From Related's Property Management Arm
Denholtz announced that it has hired a new general counsel who joins from Related Cos.' property management arm and will assist the firm's capital markets, property management and asset management teams.
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June 10, 2025
Davis Wright Guides Bluespring Deal Creating $1.4B Firm
Bluespring Wealth Partners, advised by Davis Wright Tremaine LLP, announced Tuesday it will buy a Texas-based wealth management firm affiliated with Kestra Financial and then merge it into its existing wealth management platform, LifeBridge Financial Group, establishing an investment advisory firm with $1.4 billion in assets under management.
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June 10, 2025
Petersen Health Ch. 11 Liquidation OK'd After $6.7M CEO Deal
A Delaware bankruptcy judge on Tuesday signed off on nursing facility operator Petersen Health Care's Chapter 11 liquidation after the debtor reached a $6.7 million settlement agreement with its founder and CEO, overruling an objection by the U.S. Trustee's Office that argued approval of the plan would be premature.
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June 10, 2025
Biopharma Co. Unit Hopes To Shed Empty Facilities In Ch. 11
A subsidiary of biopharmaceutical manufacturer National Resilience Holdco Inc. filed for Chapter 11 protection Tuesday in Delaware bankruptcy court with a reorganization plan involving shutting down offices, manufacturing sites and labs it described as "underutilized."
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June 10, 2025
REIT Sunstone Unloads New Orleans Hotel Needing Refresh
California real estate investment trust Sunstone Hotel Investors said Monday that it has sold its Hilton New Orleans St. Charles hotel for $47 million as the property is due for a renovation.
Expert Analysis
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.
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Assessing Algorithmic Versus Generative AI Pricing Tools
A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.