News & Publications

In the evolving landscape of real estate financing, preferred equity has emerged as a compelling alternative to traditional senior debt and mezzanine loans. While mezzanine loans have long been a popular choice for bridging financing gaps, preferred equity "with debt-like features" is gaining traction due to its unique benefits and flexibility. This article explores the growing appeal of debt-like preferred equity, its structure and how it compares to mezzanine financing. Preferred equity represents an equity [...]

First Circuit Court of Appeals Rules That Standard Commercial General Liability Policy Excludes Coverage for Downstream Property Damage When General Contractor's Scope of Work Covers Entire Building It is well-accepted that standard commercial general liability policies exclude coverage for construction contractors' own defective work. That is, for example, a roofer who fails to properly seal penetrations when reroofing a home will not be afforded insurance coverage for the cost of correcting its mistakes (i.e., sealing [...]

The Eleventh Judicial Circuit Court, sitting in its appellate capacity, recently found in two similar cases that Miami-Dade County violated property owners' due process rights by citing them for code violations using incorrect zoning regulations. Case Summaries In RR 1 Developer, LLC v. Miami-Dade County Dept. of Regulatory and Economic Resources, Case No. 2023-60-AP-01, 32 Fla. L. Weekly Supp. 195a (Fla. 11th Cir. June 25, 2024), the County cited a property owner for 47 code violations [...]