LexisNexis® Legal Newsroom
    Boies Schiller Hit With Sanctions Bid In $350M Marriott Row

    Boies Schiller & Flexner LLP was accused Thursday of ignoring a conflict of interest stemming from its past representation of Host Hotels & Resorts when the firm targeted it in a $350 million antitrust lawsuit alleging the real estate investment...

    3 Changes To Watch In Commercial Property Due Diligence

    Environmental due diligence is changing in the commercial real estate market. There are three important developments that practitioners should keep an eye on in 2013, says William Wagner of Taft Stettinius & Hollister LLP. ...read more

    Chetrit Must Stop Work At Chelsea Hotel Amid Contempt Claim

    The New York City Department of Buildings on Friday ordered the Chetrit Group to stop renovation work at the iconic Chelsea Hotel in response to complaints about the loss of gas, heat and hot water from tenants who plan to bring Chetrit back to court...

    Milford Plaza Hotel Buy Rests On $275M Morgan Stanley Loan

    A Morgan Stanley mortgage affiliate lent $275 million to Deutsche Asset & Wealth Management's real estate arm and real estate investor David Werner for their joint purchase of the lease fee interest in Manhattan's Milford Plaza Hotel earlier...

    Deals Rumor Mill: Allianz, Samsonite, Exxon

    Allianz is preparing to fork over more than $1 billion for a bigger piece of the Turkish insurance market, while Exxon and an Australian rival are mapping out an LNG project that would trounce their competition. ...read more

    Pa. Justices Greenlight Redevelopment Of Philly Parkland

    Plans to develop a 40-acre parcel of parkland in suburban Philadelphia took a step forward Thursday after the Pennsylvania Supreme Court declined to hear an appeal of a decision finding, in part, that only the state could challenge the sale of parkland...

    Sacramento Plans To Fund Majority Of $447M Arena

    Sacramento, Calif., officials released a plan Saturday in which the city would bear more than half the cost of developing a $447 million arena, and hopefully convince the Sacramento Kings basketball franchise from taking off to Seattle. ...read more

    Senior Living REIT Buys 13 Facilities In $141.7M Deal

    Health care property developer Mainstreet Property Group plans to acquire 13 senior housing properties in North Carolina, Pennsylvania and Virginia for a total of $141.7 million, the company announced Monday. ...read more

    Cooley Moves To Bigger Offices In Seattle

    Cooley LLP has expanded its Seattle presence by moving to a 22,822-square-foot space at 1700 Seventh Ave. to accommodate growth as it boosts its technology and life sciences practices, the firm announced Monday. ...read more

    DC Councilman Hit With $100M Fraud, Bid Rigging Suit

    Construction management firm Banneker Ventures LLC hit a Washington, D.C., City Council member and rival developer LaKritz Adler Development LLC with a $100 million lawsuit in D.C. federal court Monday, accusing the politician of fraud associated with...

    Wells Fargo Must Show Foreclosure Deal Is Fair, Judge Says

    A California federal judge again refused Friday to approve a proposed settlement between Wells Fargo Bank NA and a class of 28,000 homeowners who say the bank sent them deceptive foreclosure-delay offers, arguing the deal could keep many plaintiffs from...

    NY-Presbyterian Gets Nod For $1B Projects, Hospital Merger

    A New York health panel gave its blessing Thursday to three New York-Presbyterian Hospital projects worth more than $1 billion, including a proposal to build a massive ambulatory care center, and its plan to take over the New York Downtown Hospital. ...

    BofA Bid To Oust Flood Insurance Lead Plaintiffs Denied

    A Massachusetts federal judge on Thursday blocked a bid by Bank of America NA to challenge the standing of the named plaintiffs in a putative nationwide class action accusing the bank of forcing excessive hazard and flood insurance on mortgage holders...

    Drinker Biddle Doubles NYC Office Space

    Law firm Drinker Biddle & Reath LLP has doubled its lease at 1177 Avenue of the Americas, taking over an additional 15,375 square feet on the 50-story building's 38th floor, according to property owner Silverstein Properties Inc. ...read more

    Verizon Wants Brandywine To Pay $21.85M In Land Deal

    The owners of land in downtown Philadelphia containing a 53-story skyscraper skyscraper asked a Pennsylvania state judge Wednesday to force a Brandywine Realty Trust unit to cough up $21.85 million for the plot as per a purchase provision in their lease...

    Mack-Cali Venture Pays $263M For Va. Apartment Towers

    Mack-Cali Realty Corp. has teamed up with a UBS Global Asset Management-advised fund to pick up a multifamily property in Virginia's prized Crystal City submarket for $262.5 million, marking the real estate firm's first investment in the area...

    American Realty Defends $5.7B Offer To Buy Out Cole REIT

    New York-based real estate investment trust American Realty Capital Properties Inc. struck back at Cole Holdings Corp. after Cole spurned a $5.7 billion cash-and-stock buyout offer for a Cole-managed REIT Thursday, releasing a "fact-checking"...

    7th Circ. Overturns $2.7M FCA Award Against Mortgage Firm

    The Seventh Circuit on Friday reversed a $2.7 million award against a mortgage company that allegedly lied when it applied for federal loan guarantees, saying a trial judge incorrectly calculated treble damages under the False Claims Act. ...read more

    Experian Again Beats Credit Report Monopoly Suit

    A California federal judge on Thursday dismissed once more a proposed class action accusing credit bureau Experian Information Solutions Inc. of conspiring with report reseller CoreLogic Inc. to monopolize the mortgage credit data market, saying the plaintiffs'...

    Carlyle JV Scoops Up Massive Mixed-Use Complex In Houston

    Private equity titan Carlyle Group LP teamed with a unit of developer Songy Partners LLC to buy a 428,285-square-foot office complex from a pair of California real estate investors, according to a Friday statement from broker HFF LP, which represented...

    Fed Circ. Issues Mixed Ruling In NJ Public Housing Rent Row

    The U.S. Court of Appeals for the Federal Circuit on Friday reversed a lower court's ruling that the government must issue rent adjustments to a seniors housing complex in New Jersey for 2001 and 2003, while affirming the court's same ruling for...

    NYC Council Approves Howard Hughes Plan For Pier Mall

    The New York City Council on Wednesday gave the Howard Hughes Corp. the green light to tear down South Street Seaport's Pier 17 and build a 120,000-square-foot mall in its place, on the condition that the developer delay its start date. ...read more

    Philly Planning Board OKs $100M Whole Foods Project

    The Philadelphia City Planning Commission on Tuesday approved a plan to rezone a parcel just north of the city’s downtown to allow a $100 million mixed-use development that will be anchored by a Whole Foods Market. ...read more

    Cole Spurns $5.7B American Realty Bid For Adviser Tie-Up

    Cole Credit Property Trust III Inc. on Thursday spurned a $5.7 billion cash-and-stock buyout offer from New York-based American Realty Capital Properties Inc., saying it would instead forge ahead with a separate plan to take over its external adviser...

    Judge Questions ResCap Bid To Get Out Of Foreclosure Review

    A New York bankruptcy judge on Thursday put off a ruling on Residential Capital LLC’s request to stop performing foreclosure reviews that are costing it $300,000 a day, ordering the fallen mortgage servicer and its opponent Ally Financial Inc. to...