Commercial Real Estate Updates

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:
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Sham Guaranties Are Hard To Come By

In prior posts I highlighted the difficult position occupied by guarantors of real estate secured loans. In short, while California law extends very strong anti-deficiency protections to borrowers, those same protections can...more

(US) Is your Letter of Intent binding in Maryland? It might be.

You may want to use caution in drafting a Letter of Intent because a court may find it binding even if that was not your intent. On January 27, 2015, the Court of Appeals of Maryland entered a finding that a letter of intent...more

Update: The Consequences of Modifying Pennsylvania's Powers of Attorney Statute Potential Impacts on Commercial Loans & Leases

On April 14, 2015, pending legislation was passed by the Pennsylvania House Judiciary Committee to resolve the current state of flux of confession of judgment provisions and the bill was sent to the Pennsylvania House of...more

Locke Lord QuickStudy: Legal Descriptions — Texas Supreme Court Holds Specific Controls Over The General

On March 20, 2015, the Texas Supreme Court in Doris Virginia McGregor Stribling et al. v. Millican DPC Partners, LP et al., No. 14-0500 (Tex. 2015), held that a metes and bounds description will prevail over a more general...more

Philadelphia's Nonprofit Recertification Requirement Abolished

On April 7, 2015, Mayor Michael Nutter signed Bill No. 150144 into law, thereby repealing a 2013 Ordinance that had required Philadelphia’s nonprofit property owners to annually recertify that their properties continued to...more

House Bill 59, Alabama Reinvestment and Abatements Act, Expands Alabama Abatements Significantly

The Alabama Reinvestment and Abatements Act, HB59, Act No. 2015-24 (the “Act”), makes several changes to Alabama abatement law and expands the list of industries and types of projects that are eligible for those abatements....more

Letters of the Law: 'H' is for Handing Over

Getting in, getting on and getting out is how contractors make their money and having a completed project to put to use is how employers make theirs. Getting to the point of handing over the works is, usually, high priority...more

Financing the Middle East’s Shopping Spree

The continuing strong economic conditions of the UAE and other GCC economies has led to an upsurge in consumer spending in recent years. With retail sales in the region expected to reach US$284.5 billion by 2018, the need to...more

Appellate Court Notes

- AC34886 - State v. Bush - AC35418 - State v. LaFleur - AC36275 - North Star Contracting Corp. v. Albright This case dealt with who is the proper party to bring a shareholder derivative action. A...more

EPA Supplemental Environmental Projects Policy Updated for First Time Since 1998

For the first time in 17 years, U.S. EPA has updated its policy governing projects that can be performed as part of settlements with EPA. EPA’s Office of Enforcement and Compliance Assurance (“OECA”) recently issued this...more

Mello-Roos May Be Used to Fund Condemnation Action of Private Utility Provider

Those of us living in newer neighborhoods are familiar with Mello-Roos – it shows up on our annual tax bills as a way to pay off bonds issued to finance various public improvements, such as schools, streets, and parks that...more

Is Your Business a “Nuisance”? If so, It Could Cost You Dearly

Many landlords and businesses are already aware that they may be sued in a civil court for criminal acts committed by others on their property. While this is a reactive process that occurs in response to a specific incident,...more

Transferee Liability: The Lottery Ticket/Uranium Contract Rule

Mano-Y&M Ltd. v. Field (In re Mortgage Store, Inc.), 773 F.3d 990 (9th Cir. 2014) – A chapter 7 trustee sought to avoid a transfer by the debtor as a fraudulent conveyance and then to recover funds disbursed by the...more

Construction Lien Law: What You Need to Know to Protect Your Company [Video]

Presented by Tobey Coleman and Emily Yeatts This webinar provides an overview of North Carolina’s construction lien laws and how they apply to and impact each party involved in a typical construction project – owners and...more

Court Decision Helps REITs Strategize for Successful Acquisitions in the Face of Shareholder Litigation

Decision of note for REITs contemplating asset acquisitions involving stock consideration that requires stockholder approval, even if the transaction does not effect a change-in-control. Background – Following...more

New York State Passes Budget that Continues Tax Incentives for Solar Installations

Last week, New York State enacted a budget for the fiscal year 2015-16 (i.e., April 1, 2015 to Mar. 31, 2016) that continues two tax incentives for the installation of solar energy systems: (1) tax credits...more

No Statute of Limitations for Private Contribution Claims Under New Jersey’s Spill Act

Selling a piece of commercial property often requires much negotiation and planning, and generally represents the culmination of a result of a well-reasoned business decision. And at the conclusion of the deal—and depending...more

Real Estate: Foundation - April 2015

In this issue: - How NMTCs Benefit Real Estate Community Development Initiatives - Noteworthy Real Estate Deals - What’s Your Priority? An Open-Ended Examination of Pennsylvania’s Mechanics’ Lien...more

New York AG Takes Proactive Approach to Regulation of Nonprofits

Signaling increased oversight of nonprofit organizations, the New York Attorney General’s Office recently began to scrutinize the management and operation of New York nonprofits in an effort to head off potential crises...more

Environmental Indemnities

It is not often that one discovers that a senior housing facility was once an oil exploration complex or the site of a former dry cleaner but it does happen, and while your company may get comfortable with the acquisition and...more

Crowdfunding: The Next Commercial Real Estate Frontier?

In a world where we buy groceries, book travel, and even date online, it should come as no surprise that online investment is becoming increasingly prevalent. The rapid shift towards an internet-centric world has made...more

Winners Beware – Fourth District Upholds Trial Court’s Discretion To Drastically Reduce Successful CEQA Plaintiff’s Fees In...

In an opinion filed March 18 and belatedly ordered published on April 13, 2015, the Fourth District Court of Appeal upheld a trial court’s discretion to award only $19,176 in attorneys’ fees under Code of Civil Procedure §...more

Warning If You Have Not Paid Your 2012 Real Estate Taxes!

Some investor landowners and lender REO departments are holding Florida real estate and, for cash flow reasons, are not paying the real estate taxes. Some lenders are in workout or foreclosure mode holding a mortgage on...more

Property Tax Assessments: Should you appeal?

While a recovery is underway for the commercial real estate market, everyone is still looking for ways to cut expenses. Real estate taxes represent one of the most significant expenses of commercial real estate and while many...more

Part 2: …But In the Fourth Department, Repeat Filings Are Not Required?

In Part 1 of this discussion, we highlighted the Appellate Division, Third Department’s holdings on RPTL’s “freeze” provision in the Highbridge Broadway, LLC v City of Schenectady and Scellen v City of Glens Falls cases. As...more

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