Subject: Legal Issues (LEGL)

Commercial Real Estate Direct Staff Report The proposed sale of the 1.76 million-square-foot 1500 Market St. office building in Philadelphia is back on. A district court judge late last month denied a motion to block the 37-story building's sale to a ...

Commercial Real Estate Direct Staff Report The real estate arm of brothers Michael and David Shabsels last month filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the District of New Jersey. The unit, Damis Holdings LLC, owns ...

Kathy Hochul, governor of New York, signed an executive order yesterday establishing a one-year moratorium on the development of data-center properties with power capacities of 50 megawatts or more. It's the first statewide ban to be passed in the country. ...

Last year, at least 25 data-center projects throughout the country were canceled because of local resistance, a quadrupling of the number of projects that were nixed in 2024, according to Newmark.

The Daily Herald Officials in Lake County, Ill., are said to be implementing an eight-month moratorium on new data-center projects. Staff for the county, which is a northern suburb of Chicago, are working to establish definitions, zoning classifications, and performance ...

The Real Deal A lawsuit filed against Bayerische Versorgungskammer, the German pension fund known as BVK, has requested a U.S. federal judge to freeze proceeds from the recent sale of the 703,537-square-foot Transamerica Pyramid office tower in San Francisco. An ...

The CMBS trusts that hold a $167 million loan against the fee interest in, or ground beneath, the 1.1 million-sf office building at 300 South Riverside Plaza in Chicago have filed to take the asset through foreclosure.

Commercial Real Estate Direct Staff Report Romspen Holdings Inc. has placed the $5.4 million stalking horse bid for the equity interest in the entity that owns the former Motorola campus in Austin, Texas. Bids are due today. The property, which ...

Commercial Real Estate Direct Staff Report Walker & Dunlop, among the top agency lenders in the country, was asked last year to buy back $100 million of loans it originated on behalf of Freddie Mac as a result of fraud ...

New York City Mayor Zohran Mamdani is proposing an increase in property taxes in the five boroughs to help address a $5.4 billion gap in the city's preliminary $127 billion budget. In an address at City Hall, the first-time mayor ...