Stored materials present a potentially serious point of tension between lenders and borrowers in the negotiation of a construction loan agreement. In construction lending, the term “stored materials” refers to the materials and items that are purchased in advance of their use and incorporation into the project. Those materials will…
As any builder will tell you, it is impossible to know with certainty the exact amount a project is going to cost. Variables affecting the cost run the gamut from labor and material costs to delays for unforeseen conditions, weather or other causes. The longer a project is expected to…
Pillsbury would like to congratulate the winners of the “Built by Women” contest in DC, which highlights women’s contributions to the city of Washington D.C in the areas of architecture, engineering, construction, and real estate. Categories include Civic, Commercial, Cultural, Institutional, Landscape, Mixed-Use, Residential, Transportation, Urban Design. The Built By Women…
In PATH Act Changes to FIRPTA, Pillsbury attorneys Brian Wainwright and Bob Logan discuss important changes to the U.S. federal income tax treatment of U.S. real estate investments by non-U.S. persons under the Foreign Investment in Real Property Tax Act of 1980. Additional Source: Protecting Americans from Tax Hikes Act of 2015…
In late March, a trial court in Bergen County, New Jersey dismissed a condominium association’s construction defect claims against several construction entities for failure to comply with the applicable statute of limitations. This decision’s appellate aftermath will be interesting to follow, because the trial court stripped away some of the…
The 22nd edition of Pillsbury’s Newsletter: Perspectives on Real Estate features articles on energy consumption data reporting (AB1103 and 531), construction and risk management, new foreign tax withholding forms, chapter 9 and public-private partnerships. Articles include: Energy Consumption Data Reporting in California — AB 1103 and 531 Real Estate and…
The 21st edition of Pillsbury’s Newsletter: Perspectives on Real Estate features articles on green leasing, mineral rights, avoiding construction project failures and California’s post redevelopment agency landscape. Articles include: “Green” Leasing: Landlord and Tenant Perspectives Scratching the Surface: Understanding the Potential Impact of Minerals Rights on Your Texas Loan Avoiding…
“In” and “out” of New York City that is. Roosevelt Island, in particular. Stanford withdrew its proposal to build a campus on New York City’s Roosevelt Island and a week later, the City agreed to provide 10 acres to Cornell plus $100 million in infrastructure improvements; Cornell will build a…
A funny thing happened at a recent ENRNewYork infrastructure conference titled Where’s the Money? — they found some. During a panel discussion concerning infrastructure financing, both Robert Dove, Managing Director, The Carlyle Group and Christophe Petit, President, Star America Infrastructure Partners, told the large audience that they had “money to…