On May 29, 2012, the California Supreme Court heard oral argument on a case that is critical for the building industry, Pinnacle Museum Tower Assn. v. Pinnacle Market Development (US) LLC. The case concerns whether CC&Rs can require arbitration of construction defect claims. Both the trial and appellate courts had refused to enforce arbitration, at which point Hecht…
Read MoreReal estate owners, lenders, contractors, subcontractors and suppliers — significant changes to California’s Mechanic’s Lien Law are now in effect. Today is the first business day for which these changes are effective, and they represent a significant overhaul of the law, affecting not only future work, but also work in progress. In 2010, the California…
Read MoreIn the second annual ranking of Best Law Firms, U.S. News and Best Lawyers® recognize HechtSolberg as a Tier 1 firm in the San Diego metropolitan area for both Real Estate Law and (for the second year in a row) Land Use & Zoning Law. HechtSolberg is the only firm in San Diego ranked in…
Read MoreLetters of intent are frequently the first step in countless transactions — leases, purchases and sales of properties and businesses, mergers, acquisitions, financing arrangements . . . the list goes on. The parties typically intend that the letter not constitute a binding contract, but rather a step on the path to forming their binding contract….
Read MoreCLICK HERE to read “Prevailing Wage Update: Private Developments May Be Public Works, Even in Charter Cities” by HechtSolberg partner Richard Schulman. The article was published in the March 2011 edition of The Pipeline, The Official Newsletter of the Burnham-Moores Center for Real Estate.
Read MoreA recent decision of the California Court of Appeal may make your private development a “public work” if you get any government support, such as the proceeds of bonds from community facilities districts — often referred to as Mello-Roos bonds. In the recent case of Azusa Land Partners v. Department of Industrial Relations, the court…
Read MoreWe are writing to update you on amendments to the Mechanics’ Lien Law that became effective January 1st. Some published summaries and media reports have created confusion about the changes. We want to clear up the confusion. The amendments change the definition of “claim of lien” by adding two new requirements. The requirements are intended…
Read MoreOn July 30, 2010, the Court of Appeal based in San Diego issued an opinion in Pinnacle Museum Tower Association v. Pinnacle Market Development (US), LLC. The CC&Rs for this mixed-use development included provisions requiring that construction disputes, if they could not be resolved informally, be decided in arbitration rather than in court. After the…
Read MoreVantage Pointe, San Diego’s largest mixed-use high-rise condominium tower, was sold recently to Equity Residential, one of the nation’s largest multi-family REITs. HechtSolberg attorneys represented Calgary based developer, The Pointe at Balboa Limited Partnership, in the structuring, documentation, completion and eventual sale of Vantage Pointe. Equity Residential plans to operate the 40‑story, 679-unit tower as…
Read MoreSeveral clients have inquired about what’s involved in “buying the debt.” Visit our News page for a general overview.
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