Real Estate

259 Search Results

Financial Crisis Inquiry Commission to Begin Investigations Next Month

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | September 17, 2009

Treasury Issues New Rules to Encourage CMBS Workouts

On September 16, 2009, the Internal Revenue Service released final regulations governing the U.S. federal income tax treatment of collateralized mortgaged-backed securities ("CMBS") held in a real estate mortgage investment conduit ("REMIC") vehicle.

Client Alert | September 17, 2009

In re: General Growth Properties, Inc. – Court’s Denial of Motion to Dismiss Will Affect Single Purpose Borrowers

Gibson, Dunn & Crutcher LLP is closely monitoring developments arising from the recent ruling in the Chapter 11 case of General Growth Properties, Inc.

Client Alert | September 4, 2009

California Appellate Court Strikes Down an Inclusionary Housing and Affordable Housing In-Lieu Fee As Preempted by the Costa-Hawkins Rental Housing Act

In a decision published July 22, 2009, a California Appellate Court held that rent restrictions for newly constructed housing were preempted by the Costa-Hawkins Rental Housing Act (Costa-Hawkins), California Civil Code Section 1954.50 et seq., finding that limitations on initial rents were "hostile and inimical" to a residential landlord's right under Costa-Hawkins.  Palmer/Sixth Street Properties v. City of Los Angeles, No.

Client Alert | July 24, 2009

Financial Crisis Inquiry Commission: Commissioners Appointed; Commission Likely to Begin Investigations in September

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | July 15, 2009

Financial Markets in Crisis: Administration Releases “White Paper” on Reforming the Financial Regulatory System

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | June 17, 2009

California Gets Tough on Lenders and Purchasers of Foreclosed Rental Property

Recent reports suggest at least one-third of California's 267,000 foreclosure sales in 2008 were foreclosures of rental units.  Generally a mortgage lien which is first in time takes priority over the encumbrance of a lease which was entered into after the mortgage lien was created.  As a result, the purchaser of a foreclosed property may generally terminate the subordinate leases on the property and evict its tenants.

Client Alert | May 19, 2009

A 9/11-Style Independent Commission for Financial Regulatory Reform Looms on the Horizon

This May 2009 alert focuses on Congress' expected creation of an independent commission to examine the domestic and global causes of the U.S. financial and economic crisis. 

Client Alert | May 13, 2009

Environmental Compliance Review Required for Projects Funded Under the American Recovery and Reinvestment Act of 2009

In February, President Obama signed into law the American Recovery and Reinvestment Act of 2009 ("ARRA"), a $787 billion economic stimulus package that provides funding for investments in infrastructure, energy efficiency, health care, education, science, and other sectors.

Client Alert | May 7, 2009

Single Asset Real Estate – Fast Track Bankruptcy Cases

Orange County partner Teresa J. Farrell is the author of "Single Asset Real Estate - Fast Track Bankruptcy Cases" [PDF] published in the May 2009 issue of the Orange County Business Journal.

Client Alert | May 1, 2009

Legislation Reintroduced to Tax Carried Interests as Ordinary Income

Congressman Sander Levin (D-Mich.) recently reintroduced legislation in the House that would tax income and gains associated with "carried interests" as ordinary income.

Client Alert | April 7, 2009

Financial Markets in Crisis: Public-Private Investment Funds for Distressed Bank Assets — Open Questions and Opportunity to Comment

Last week, the Department of the Treasury and the FDIC announced their Public-Private Investment Fund (PPIF) concept, intended to remove troubled assets from banks.  Significant details of the proposal remain undefined, and public comment is sought.As announced, private investors and the Treasury will invest side-by-side in PPIFs, and will share in both profits and losses.  Treasury financing also will be available.  Additionally, PPIFs may issue FDIC-guaranteed debt.  Details of the capitalization of PPIFs, the terms of the potential investments and financing, the accounting and regulatory implications for banks that sell assets to PPIFs and related matters have not been finalized.  Similarly, while officials have stated that compensation limits will not apply to

Client Alert | March 30, 2009

Purchase Agreement for Unsubdivided Property Void Unless Agreement Includes Subdivision Map Act Compliance as an Unwaivable Condition Precedent to Close

A recent California appellate court decision serves as a reminder that care must be taken when drafting or entering contracts for unsubdivided parcels of land.

Client Alert | March 24, 2009

Details of Public-Private Investment Fund Released; Executive Compensation Restrictions Will Not Apply to Private Participants

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | March 23, 2009

Financial Markets in Crisis: TALF Launched; Executive Compensation Restrictions Will Not Apply

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | March 4, 2009

Financial Markets in Crisis: Stimulus Act Provides More than $100 Billion to Fund Infrastructure

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | February 25, 2009

Financial Markets in Crisis: The Capital Assistance Program Unveiled

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.

Client Alert | February 25, 2009

Stimulus Bill Tax Provisions

The American Recovery and Reinvestment Act of 2009 (the "Stimulus Act") is expected to be signed into law by President Obama today. The approximately 11oo pages of the Stimulus Act include a number of tax provisions.

Client Alert | February 17, 2009

Financial Markets in Crisis: Stimulus Act Enhances Executive Compensation Standards; TALF Expanded

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is closely tracking government responses to the turmoil that has catalyzed a dramatic and rapid reshaping of our capital and credit markets.

Client Alert | February 17, 2009

Financial Markets in Crisis: TARP II – Treasury’s New Financial Stability Plan

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | February 10, 2009

Financial Markets in Crisis: Executive Compensation Limits Tightened; Lobbyists’ TARP Access Restricted

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | February 4, 2009

Financial Markets in Crisis: Summary Table of Federal Rescue Programs

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | January 15, 2009

Financial Markets in Crisis: Congressman Frank’s TARP Reform Bill

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | January 13, 2009

Financial Markets in Crisis: Details of Federal Reserve MBS Purchase Program

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.This update focuses on the Federal Reserve Board's announcement that it expects to begin purchasing mortgage-backed securities (MBS) in early January 2009.On November 25, 2008, the Federal Reserve announced three major new initiatives as follows: The Term Asset-Backed Securities Loan Facility (TALF) -- under which the Federal Reserve Bank of New York, with Treasury credit protection in

Client Alert | January 5, 2009

Financial Markets in Crisis: TARP Covers Automakers; More TALF Details Announced

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | December 24, 2008

Financial Markets in Crisis: Oversight of Federal Rescue Efforts Ramps Up

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | December 16, 2008

CARB Identifies Significance Thresholds for Greenhouse Gases under CEQA

For the past few years, concern over the potential impacts of new developments on climate change has prompted the attention of state officials to begin developing methods under the California Environmental Quality Act (CEQA) to reduce greenhouse gas (GHG) emissions.

Client Alert | December 4, 2008

Financial Markets in Crisis: Housing and Credit Markets Get TARP Boost

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | November 25, 2008

Financial Markets in Crisis: Final TLGP Rule

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.This update focuses on the final rule issued today by the Federal Deposit Insurance Corporation (the "FDIC") governing its Temporary Liquidity Guarantee Program (the "TLGP").On October 13, 2008, the FDIC adopted the TLGP, which guarantees newly issued senior unsecured debt of banks, thrifts, and most holding companies of federally insured depository institutions (the &quo

Client Alert | November 21, 2008

Financial Markets in Crisis: The Waxman Hearings; TARP Update

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.This update focuses on a series of hearings which are being conducted by Congressman Henry Waxman, chair of the House Committee on Oversight and Government Reform, and, in particular, the recent hearing on hedge funds' role in the financial crisis.BackgroundOn Thursday, October 2, 2008, Representative Waxman announced that the House Committee on Oversight and Government Reform would hold a seri

Client Alert | November 19, 2008

Financial Markets in Crisis: TARP Roadmap Revised

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | November 13, 2008

Financial Markets in Crisis: Expanding Authorities to Promote Liquidity and Protect Homeowners

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | November 7, 2008

Financial Markets in Crisis: Regulation of Credit Default Swaps

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 23, 2008

Financial Markets in Crisis: Congress Takes a Closer Look; FDIC Issues Interim Rule

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 23, 2008

Financial Markets in Crisis: Fed Announces a Third Funding Facility Designed to Increase Market Liquidity

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 21, 2008

Financial Markets in Crisis: Critical Issues in the Current Environment

Many of our clients have been facing unprecedented new challenges as a result of the dramatic economic events that have occurred over the last month.  The financial markets continue to evolve in Washington on a real-time basis and the daily volatile gyrations in the stock markets around the world have led to uncertainty, anxiety and issues of first impression for many of our clients.  We believe that the events that occur in the coming months will shape not only the financial futures of many of our clients and their competitors, but also the world economy.

Client Alert | October 20, 2008

Financial Markets in Crisis: The Capital Purchase Program Takes Shape

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 20, 2008

Shifting Investment Strategy Toward Real Estate Debt Acquisition

While real estate equity investment continues to be challenging during the current global financial turmoil, many investors have turned to acquiring real estate debt.  Gibson, Dunn's real estate group and our clients have been in the forefront of forming funds and purchasing whole mortgage loans, so-called "B-pieces" of mortgage loans (as well as more junior pieces), mezzanine loans and CMBS bonds.

Client Alert | October 16, 2008

Financial Markets in Crisis: TARP Takes Shape: President Announces Additional Measures

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 14, 2008

Financial Markets in Crisis: Applications Are In

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 9, 2008

Financial Markets in Crisis: Treasury Moves to Implement TARP

With the Emergency Economic Stabilization Act (EESA) now law, Treasury is moving quickly to choose advisers, issue regulations, and hire companies to serve as asset managers for the Troubled Asset Relief Program (TARP).Today, Secretary Paulson announced that he has selected Neel Kashkari to be the interim head of the new Office of Financial Stability, which will implement the Troubled Asset Relief Program.  Kashkari is currently Assistant Secretary for International Economics and Development and has been a key adviser to Secretary Paulson.  It is our understanding that Secretary Paulson intends to hire a small staff with expertise in asset management, accounting, and legal issues to commence the Troubled Asset Relief Program.

Client Alert | October 6, 2008

Financial Markets in Crisis: Rescue Bill Reaches Finish Line

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | October 3, 2008

Financial Markets in Crisis: Section-By-Section Analysis of the Emergency Economic Stabilization Act of 2008

We are pleased to provide our clients and friends with a section-by-section analysis of the Emergency Economic Stabilization Act of 2008 (hereinafter, the "Act") as passed by the Senate, by a vote of 74-25, on October 2, 2008.

Client Alert | October 2, 2008

Financial Markets in Crisis: Overview of FDIC’s Authority with Respect to Bank Failures

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | September 30, 2008

Financial Markets in Crisis: Understanding the Various Pricing Scenarios for the Treasury Department’s Bailout Auction Plan

The Gibson, Dunn & Crutcher Financial Markets Crisis Group continues to closely monitor statements from the Executive Branch and Congressional leaders concerning the structure of proposed Treasury auctions to buy up collateralized debt from investors and banks holding illiquid securitiesLast week, Treasury Secretary Henry Paulson testified before the House Committee on Financial Services that the Treasury Department would employ market mechanisms" to value mortgage securities.  Paulson identified key goals of the auctions as "price discovery" and "transparency."The Secretary mentioned instituting reverse auctions as a means of pinpointing market prices and allowing smaller financial institutions to enter the process.  In a reverse auction, the gove

Client Alert | September 30, 2008

Financial Markets in Crisis: Rescue Bill Fails in House

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.What follows is our latest in a series of updates on key regulatory and legislative issues.Bipartisan RejectionLawmakers labored over the weekend to craft a financial package that would be palatable to both Democrats and Republicans, as well as to constituents back home.  Draft legislation was circulated and tinkered with all weekend until the House Rules Committee, at 12:01 a.m.

Client Alert | September 29, 2008

Financial Markets in Crisis: Silence on the Rescue Deal Is Golden; Banking Giant WMBank Falls but DIF Held Harmless

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.What follows is our latest in a series of updates on key regulatory and legislative issues.Debate on the HillIn contrast to yesterday's public display of political and policy wrangling, today's activity was largely behind the scenes as designated negotiators worked to hash out the details of a rescue plan.  Though congressional leaders reported yesterday that they had reached a compromise agreement, Republicans announced that they had developed a competing proposal late Thursday night.  House Minority Leader John Boehner wrote Speaker Pelosi today to express concern that the Democra

Client Alert | September 26, 2008

Financial Markets Crisis: Issues for Hedge Funds and Private Equity Funds

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking government responses to the turmoil that has reshaped our capital and credit markets.  The following is an update on key regulatory and legislative issues that are of particular interest to and are likely to affect hedge funds and private equity funds.Federal Reserve Board Enhances Passive Investment Framework for Minority Investors in Bank Holding Companies and BanksIn connection with its various efforts to increase the capital and liquidity available to the banking industry, on September 22, 2008 the Federal Reserve Board (the "Fed") issued a new policy statement providing additional guidance on making equity investments in a bank or bank holding company ("BHC").  Importantly, the iss

Client Alert | September 26, 2008

Financial Markets in Crisis: Deal on Rescue Bill Appears Likely, but What Will It Contain?

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | September 25, 2008