Pryor Cashman Represents Cirrus Real Estate Partners In $187M Loan Acquisition

Pryor Cashman represented Cirrus Real Estate Partners in connection with the acquisition, from a major overseas lender, of a $187,000,000 mortgage loan secured by a 275,000-square-foot indoor shopping mall located in the heart of Flushing, Queens, as well as a large development site adjacent to Flushing Bay.

The transaction drew on Pryor Cashman’s deep experience in the acquisition, enforcement, and restructuring of complex real estate debt. Cirrus relied on the firm’s practical, business-focused approach to […]

By | Oct 28, 2025 ||

New California Law Expands Clearance Of Restrictive Covenants On Commercial Property

California Gov. Gavin Newsom on Oct. 10, 2025, signed into law Assembly Bill (AB) 1050 (Schultz) (Chapter 504, Statutes of 2025), effective Jan. 1, 2026, further amending California Civil Code Section 714.61 and expanding the availability of the process for removing recorded restrictive covenants that block housing developments in order to facilitate the residential redevelopment of commercial properties. In doing so, AB 1050 greatly expands the ability to develop commercial property with projects, including […]

By | Oct 26, 2025 ||

D.C. Council Introduces Zoning Decision Appeals Amendment Act Of 2025

At the request of District of Columbia Mayor Muriel Bowser, Chairman Phil Mendelson on Oct. 3, 2025, introduced the Zoning Decision Appeals Amendment Act of 2025 (B26-0397, the Act). The Act would amend the District of Columbia Administrative Procedures Act to streamline zoning appeals and reduce bad faith actions that inhibit the District’s ability to provide new housing and retail and community amenities. The proposed legislation is partially in response to projects that have […]

By | Oct 24, 2025 ||