According to a U.S. Department of Justice (DOJ) press release, the DOJ and the Federal Trade Commission (FTC) have released a draft update of the Merger Guidelines (the “Draft Guidelines”), which describe and guide the agencies’ review of mergers and … Continue reading →
On June 22, the New York City Council passed legislation that will prohibit commercial property owners from knowingly leasing commercial premises to, or otherwise allow the use of such premises by, unlicensed sellers of cigarettes, electronic cigarettes, tobacco products, or … Continue reading →
A new law, which goes into effect on July 1, 2023, instructs the Director of the Department of Housing and Community Development to develop and operate a Virginia Residential Sites and Structures Locator database “to assist localities in marketing any … Continue reading →
According to LegiScan, House Bill 2127 (known as the “Texas Regulatory Consistency Act”) was signed into law by Gov. Greg Abbott on June 14 and will go into effect on September 1. According to the bill text, “[t]he purpose of … Continue reading →
The New York legislature passed the LLC Transparency Act (Bill No.: A03484A) on June 20. According to the Bill Memo, the bill aims to end the practice of anonymous ownership of limited liability companies in New York by defining beneficial … Continue reading →
A total 576 U.S. banks exceeded regulatory guidance on CRE loan concentration by the end of Q1–2023, an increase of 30.3 percent compared with a year earlier, according to S&P Global Market Intelligence. Regulators increase their scrutiny of banks that … Continue reading →
Westfield has decided to surrender the nine-story San Francisco Centre mall to its lenders, according to The Real Deal, which reports that the firm—owned by Paris-based Unibail-Rodamco-Westfield and its partner, New York-based Brookfield Properties—will cease making payments on a $558 … Continue reading →
According to the U.S. Census Bureau, “[a]dvance estimates of U.S. retail and food services sales for May 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $686.6 billion, up 0.3 percent (±0.5 percent)* … Continue reading →
The Virginia Freedom of Information Act (“VFOIA”) requires that “[a]ll meetings of public bodies shall be open, except as provided in §§ 2.2-3707.01 and 2.2-3711.” Va. Code § 2.2-3707(A). The statute requires that public meetings be publicly noticed (Va. Code … Continue reading →
The U.S. CMBS delinquency rate increased by 15 basis points to 1.85 percent in May from 1.70 percent in April, marking the largest month-over-month increase since October 2020, according to Fitch Ratings, which provides the following delinquency rate breakdown by … Continue reading →