LexisNexis® Legal Newsroom
    NJ Panel Advances Bill To Modify Eminent Domain Laws

    A New Jersey Senate committee on Monday advanced a bill that would make it more difficult for municipalities to claim underutilized properties using eminent domain laws unless the property meets the definition of "blight." ...read more

    Boyd Gaming Gets $350M For Lot On Vegas Strip

    Boyd Gaming Corp. on Monday sold the site of its stalled development on the Las Vegas Strip to Malaysian conglomerate Genting Group for $350 million in cash, pocketing about $157 million in net proceeds, the Nevada-based company said in a statement. ...

    FHFA To Combine Fannie, Freddie Back Office Operations

    The Federal Housing Finance Agency on Monday announced plans to create a new company that would handle Fannie Mae and Freddie Mac's back office functions for mortgage securitizations, a step that could create an eventual replacement for the two mortgage...

    Reps. Introduce Bill To Speed Short Sales For Homeowners

    A bipartisan pair of congressmen introduced legislation Monday that would create a 30-day window for lenders to decide whether to accept a short sale offer, expediting the process in an effort to keep homeowners out of foreclosure. ...read more

    Chetrit In $150M Contract For Defunct Gramercy Medical Center

    The Chetrit Group and several partners have reportedly agreed to buy the defunct Cabrini Medical Center near New York City's Gramercy Park from the Memorial-Sloan Kettering Cancer Center for more than $150 million. ...read more

    Boyd Gaming Nets $65.5M In Sale Of Fla. Jai Alai Facility

    After backing out of a sale deal in 2011, Nevada-based Boyd Gaming Corp. on Thursday said it would sell the assets of Dania Jai-Alai in Dania Beach, Fla., to Dania Entertainment Center LLC for $65.5 million in cash. ...read more

    Ala. Mayor Found Guilty Of Embezzling FEMA Funds

    The mayor of Bayou La Batre, Ala., was found guilty Friday of embezzling money from a $15.7 million Federal Emergency Management Agency grant to provide housing for Hurricane Katrina victims, but dodged four counts of making $27,000 in illegal transactions...

    Contractors Get Bellevue Hospital Construction Suit Trimmed

    A New York state judge has trimmed claims and cross-claims facing contractors and subcontractors in a convoluted $40 million suit over damages to New York City's Bellevue Hospital during construction of a forensic laboratory next door, according to...

    Louis Berger Negligent In Meadowlands Project, Suit Says

    Land redevelopment firm EnviroFinance Group LLC recently accused The Louis Berger Group Inc. and construction contractor Environmental Barrier Company LLC of hiding problems that arose on a New Jersey Meadowlands wetlands development project and subsequently...

    Burger King Violated TCPA With Junk Faxes, RE Firm Says

    Burger King Corp. was hit Friday with a proposed class action in which a real estate company alleged it sent unsolicited faxes in violation of the Telephone Consumer Protection Act. ...read more

    Fannie, Freddie Cite Exemption In Pa. Real Estate Tax Case

    Fannie Mae and Freddie Mac told a Pennsylvania federal judge Friday that a putative class action on behalf of the state's 67 counties seeking payment of real estate transfer taxes should be dismissed because federal law exempts them from state and...

    Real Estate Market To Take Hit From Sequestration

    Office landlords stand to lose lucrative government leases in the coming weeks as sequestration takes its toll, and experts say the ripple effect from the massive budget cuts could stall the real estate market's recovery by adding yet another level...

    Calif. Residents Propose New Homeowner Class In Libor MDL

    Two San Francisco residents moved Thursday to lead a nationwide class of homeowners accusing a slew of banks and their subsidiaries of manipulating the London Interbank Offered Rate, telling a New York federal judge that the four existing classes in the...

    Spec Projects Drive NJ Industrial Building Boom, CBRE Says

    Construction activity in New Jersey's industrial real estate sector is up more than 360 percent over the same period last year, thanks in part to a boom in speculative building as demand grows but inventory remains low, according to a report released...

    Meadow Accuses Pinnacle Of Meddling With Property Sales

    A unit of private equity firm Meadow Partners sued a Pinnacle Group entity Friday, alleging it interfered with the sale of nine New York properties that the two jointly own so that Pinnacle could take over the properties at a better price. ...read more

    Fannie, Freddie Knew Of Risks In $27M MBS Buy: Countrywide

    Countrywide Financial Corp. asked a California federal judge Wednesday to throw out Fannie Mae and Freddie Mac's lawsuit alleging they were duped into buying $26.6 billion in toxic mortgage-backed securities, arguing that they were sophisticated market...

    Sandy Aid, Insurance Gaps Could Drive Fixes For NY Co-Ops

    Superstorm Sandy exposed regulatory gaps that have left thousands of New York co-op and condo residents without quick access to money for repairs, but experts say their plight could lead to new federal rules to expedite grants and provide more insurance...

    Murky Language No Way Out For Insurers Fighting Fees

    A Washington appeals court ruled Tuesday that Travelers Property Casualty Co. of America must pay attorneys' fees in a fight with an apartment complex owner because the insurer's judgment offer was silent on whether it included the fees —...

    Baltimore Property Slated For $1B Project Pushed Into Ch. 7

    The owner of a Baltimore waterfront property envisioned as part of a $1.2 billion development project agreed Tuesday to accept the bankruptcy thrust upon it by a pair of creditors, but requested that the resulting case be converted to Chapter 11. ...read...

    Wyndham Strikes New Branding Alliance In Germany

    Entering the German market for the first time with its own name, Wyndham Hotel Group has inked a deal to rebrand a third of the properties owned by Grand City Hotels GMBH, Germany's second-largest hotel manager, the companies announced Wednesday....

    11th Circ. Backs BofA In Fight Over $1B Vegas Hotel Funding

    The Eleventh Circuit on Wednesday rejected claims by more than 40 lenders and investors in the Las Vegas casino and hotel Fontainebleau that Bank of America Corp. wrongfully cut off over $1.2 billion in funding for the doomed project, affirming two lower...

    Texas Lawmaker Aims To Expand Property Rights Protections

    Texas state Rep. Van Taylor on Tuesday introduced legislation to amend state laws governing oil and gas well property rights by including a landowner's mineral rights in the definition of private real property to provide broader protections to landowners...

    Sandy Spending Safeguards Clear NJ Senate Panel

    New Jersey bills intended to help ensure that Superstorm Sandy relief money from the federal government doesn't fall victim to fraud, abuse or waste continued their advance Thursday, with a state Senate panel clearing the oversight and transparency...

    Covington Offers DC Sublease At Bargain Rates

    Gearing up for a 2014 relocation, Covington & Burling LLP has put its existing Washington, D.C., space up for sublease — and its well-below-average prices, given the Pennsylvania Avenue address and tight office market, offer other firms a rare...

    NY Judge Slams Door On Short-Stay Apartment Rentals

    A New York state judge on Friday sided with New York City and barred Smart Apartments LLC and parent company Toshi Inc. from operating or advertising residential apartment units as limited-occupancy hotel rooms, dismissing allegations of selective enforcement...