Real Estate

Latest Real Estate Wins

$112 Million Jury Verdict for Flood-Damaged Manufacturing Facility

delivered one of the largest insurance bad faith jury awards ever recorded in a property insurance coverage case.

$38 Million Recovery for Fire-Damaged Industrial Complex

Secured settlement for roughly double what it cost client to rebuild an old fire-damaged damaged facility. Insurer paid for total replacement cost, irrespective of what it actually cost to replace the facility with a less expensive structure.

$25 Million REIT Flood Loss

Negotiated settlement of for $15 Billion REIT losses at forty-seven different properties.

$15 Million Builder’s Risk Claim

Pursuing coverage for the owner of a $56 million hotel being constructed in the District of Columbia. $15 million of repair costs necessitated by damage caused by heavy rains and mold during construction.

$15 million Fair Housing Act Claim

Litigated and settled coverage under D&O and EPLI insurance policies for alleged violations of the Fair Housing Act.

$15 Million Fire Loss

Successfully arbitrated recovery of fire related business interruption and property damage losses at apartment complex for large commercial real estate company.

$10+ Million Securities Class Action Settlement for REIT

Real estate investment trust recovered 8-figure settlement from tower of D&O insurance companies for losses arising from defense and settlement securities class action and derivative securities claims, filed in Maryland and Arizona, challenging a corporate transaction. Coverage lawsuit settled on very favorable terms after client prevailed on discovery rulings in Maryland federal court. VEREIT, Inc. v. National Specialty Insurance Company (U.S.) Inc., Case No: 1:17-cv-03788-ELH (D. Md.).

$10 Million Contractor Overcharging Scandal

Recovered contractor overcharging amounts under crime bond where contractor was in collusion with company employees.

$9 Million Mexico Developer FCPA Claim

Developer incurred $9 million in costs in order to comply with an SEC subpoena. Recovery under D&O policy was achieved immediately after filing lawsuit. Learn More

$3 Million Summary Judgment Victory

Secured favorable summary judgment ruling in California district court. The policy at issue was a “claims made” rather than a “claims made and reported” policy. Insurer required to prove substantial prejudice to deny coverage.

$2.75 Million “Loss of Use” Payment

Obtained coverage under the “loss of use” provisions of shopping center client’s CGL policy for the client’s settlement with a commercial tenant, who alleged that it had been wrongly evicted from the center during the course of extensive renovations of the center.

Construction Defect Claim Recovery

Multimillion dollar settlement for real estate developer from general liability insurer covering the defense and indemnification of claims asserted by condominium association arising out of alleged construction defects in condominium development.

Favorable COVID-19 Settlement

Settled COVID-19 claim for commercial property owner. Coverage secured from commercial real estate client’s property insurer. Negotiated favorable settlement with the insurer for a portion of client’s losses. Coverage for remaining losses being negotiated.

Negotiated Recovery

Negotiated recoveries under environmental impairment liability policies for brownfields developer of former manufacturing facility experiencing renewed EPA enforcement activity resulting from legacy PCB contamination.