Commercial Law & Contracts, Finance & Banking, Commercial Real Estate

Maryland Removes Potential Barrier To Refinance Transactions

by BuckleySandler LLP on 5/16/2013

On May 2, Maryland enacted SB 199, which authorizes a mortgagor to refinance the full balance of a loan secured by a first mortgage or deed of trust without the permission of the holder of a junior lien if (i) the principal...more

Real World - Spring 2013: Damages include fall in market

by Sophie Ogilvie | Dechert LLP on 5/14/2013

Two recent cases have highlighted circumstances in which damages for breach of contract may include loss caused by a fall in market values....more

2013 Maryland IDOT Legislation Expands Exemption Amount Applied For Recordation Tax

by John Wetzel | Niles, Barton & Wilmer, LLP on 5/14/2013

As a result of recent Maryland legislation, commercial property owners currently considering the financing or refinancing of their real estate may achieve significant recordation tax savings when using so-called “indemnity...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 5/10/2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

California Energy Commission Amends Nonresidential Building Energy Disclosure Regulations

by Kirsten Day, Teresa Jacobs | Perkins Coie on 5/10/2013

The California Legislature adopted Section 25402.10 of the California Public Resources Code in 2007. The Code requires each nonresidential building owner throughout the state to document and disclose a building’s energy use...more

New Maryland Law Provides Indemnity Deeds of Trust (IDOT) Relief

by Jerald Cohn | Holland & Knight LLP on 5/8/2013

Maryland Governor Martin O'Malley has signed a law that brings significant changes to how recordation tax will be imposed on the refinancing of commercial property and on the modification of existing indemnity deeds of trust...more

Maryland Again Changes Recordation Tax Payable on Indemnity Deeds of Trust - Effective as of July 1, 2013

by Walter Kirkman, Kevin LaTulip, Jr. | Ober|Kaler on 5/6/2013

Recordation Tax Now Charged Upon Recordation of Indemnity Deeds of Trust Securing a Guarantee of a Loan or Related Loans of $3,000,000 or More - Governor Martin O’Malley signed legislation this week that will again...more

On Appeal: The Michigan Court of Appeals Overturns It's Prior Ruling and Affirms the State's 2012 Legislation, Nonrecourse...

by Matthew Ginsburg | Dechert LLP on 4/30/2013

As we have discussed numerous times in this blog, the downturn in the commercial real estate market resulted in much litigation as to guarantor liability for non-recourse debt. As a brief refresher, many of the non-recourse...more

Real Estate Tip – Hedge Against Future Inflation: Understanding The Capitalization Rate

by Richard Smith | Bernstein Shur on 4/29/2013

Net operating income ÷ building capital cost = capitalization rate - If you bought a building in 2007 for $450,000 that produces $36,000 in net operating income, your cap rate is 8 percent. If you think of the cap...more

U.S. Department of the Treasury Announces $3.5 Billion in Federal New Markets Tax Credit Allocation Authority

by Amelia Frankel, Jarrod Sharp, Jennifer Simmons | Thompson Coburn LLP on 4/26/2013

Yesterday the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (the “CDFI Fund”) announced the award of $3.5 billion in Federal New Markets Tax Credit (NMTC) allocation authority through its...more

California Commercial Building Owners Must Disclose Energy Usage of the Building During Sale, Lease or Financing after July 1,...

by Matthew Fogt, Emily L. Murray, Heather Riley | Allen Matkins Leck Gamble Mallory & Natsis... on 4/23/2013

Beginning, July 1, 2013, all California commercial buildings with a total gross floor area of more than 50,000 square feet are required to disclose the building's energy usage in advance of any sale, lease, or financing of...more

Michigan, Ohio Lenders Will See Impact from New Nonrecourse Loan Restrictions

by Joshua Stevens | Dinsmore & Shohl LLP on 4/22/2013

Lenders located in Michigan and Ohio that are engaging in nonrecourse loans will want to become familiar with a recent change in the law which will have an impact on the use of certain carve-outs in nonrecourse loans....more

Legal Fallout From CRE Bust Continues

by Mitchell Widom | Bilzin Sumberg Mortgage Repurchase Group on 4/17/2013

While recovery is well underway, some commercial real estate industry players are still feeling the recession’s after-shocks through litigation in the courtroom. A recent representative high-profile case is Lennar...more

Foreclosure Tip #1: Inspections – Do It Before You Own It

by Keith Mullen | Winstead PC on 4/17/2013

In some parts of the country, a recovering local economy means the special asset (or problem loan) groups are reducing staff, as loan production groups come back to life. Leaving the special asset group under-staffed could...more

How Graphics Helped a Trial Team Show Complex Data and Win

by Cogent Legal on 4/12/2013

I love hearing the news that one of our clients had a great result using the work we did for them. The most recent big win I’m happy to report is Manatt, Phelps & Phillips, LLP, won a major lender liability/wrongful...more

Beware of Deed of Trust Securing Multiple Loans: Priorities May Not Be as They Appear!

by Bill Shiber | Miller Starr Regalia on 4/11/2013

In R.E. Loans LLC v. Investors Warranty of America, Inc. (2013) 212 Cal.App.4th 1432, the court of appeal decided that a subordination agreement was enforceable even though the new deed of trust (“subordinating loan”) to...more

Highlights Of HUD’s New Section 232 LEAN Closing Documents, April 9, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 4/10/2013

On September 7, 2012, the Federal Housing Administration (FHA) published in the Federal Register new regulations for the Section 232 Healthcare Facility Insurance Program, which became effective as of October 9, 2012. In...more

Federal Reserve Board And OCC Publish White Paper On CRE Concentration Guidance

by BuckleySandler LLP on 4/9/2013

On April 3, the Federal Reserve Board and the OCC jointly published a white paper on the regulators’ study of bank performance in the context of 2006 interagency guidance regarding commercial real estate lending that...more

Refresh Your Mortgage Loan Documents with these Tech Topics

by Keith Mullen | Winstead PC on 4/3/2013

Most commercial real estate loan documents give meaning to the phrase “real estate is old as dirt.” Why? Because just as dirt doesn’t change, commercial mortgage loan documents largely ignore the impact of technology on the...more

Fifth Circuit Decisions Concerning Confirmation Of Plans Of Reorganization

by Richard London | Perkins Coie on 3/22/2013

The U.S. Court of Appeals for the Fifth Circuit recently issued two decisions that affect a borrower’s ability to confirm a bankruptcy plan, Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village...more

Rogers Towers: Radlax

by Jacob J. Payne | Rogers Towers on 3/14/2013

Can a Chapter 11 debtor propose a plan to sell a lender’s collateral free and clear of the lender’s lien without allowing the lender to credit bid? The Supreme Court says “no”—unless there’s cause....more

Banks Not Required to Capitalize OREO Costs

by Thomas Blank, Thomas Cotter, Mark Hildreth, W. Kent Ihrig | Shumaker, Loop & Kendrick, LLP on 3/11/2013

The Office of the Chief Counsel of the Internal Revenue Service has issued a Legal Memorandum (Number AM2013-001, dated March 1, 2013) (the “Memorandum”), which has important implications and represents a victory for lenders...more

Lien Rights of Lenders and Landlords - Part II

by John Kelly | Bean, Kinney & Korman, PC on 3/11/2013

In Part I of this blog post, we discussed the varied interests of the landlord and the tenant's lender in the tenant’s personal property located at the premises in the context of a commercial lease. Part II below will...more

Separate Account Real Estate Investments: What Do I Need to Know And What Is My Role?

by Danielle Sveska Gensch, Yuliya Oryol | Nossaman LLP on 3/6/2013

Separate account real estate refers to the direct ownership by a public pension plan in income producing real property, and in some cases, the property where the public pension plan has its headquarters building and related...more

Securing Multiple Loans With a Single Deed Of Trust Does Not Affect Lien Priority in Foreclosure - Priority of Each Secured Loan...

by Delmar G. Williams | Best Best & Krieger LLP on 3/4/2013

The California Court of Appeal (Second District) recently determined that the lien priority of multiple loans secured by a single deed of trust must be determined separately for each individual loan. As a result, secured...more

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Commercial Law & Contracts › Finance & Banking › Commercial Real Estate