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In the Marketplace
Resource America, Inc. of Philadelphia has announced that its commercial finance subsidiary, LEAF Financial Corporation ('LEAF'), has significantly expanded its third-party lease origination capability and assets under management by entering into a definitive agreement to acquire the Leasing Division of Pacific Capital Bank, N.A. (fdba Santa Barbara Bank & Trust). The total purchase price of approximately $280 million includes a portfolio of small ticket leases to be acquired by LEAF's investment partnerships and by LEAF on behalf of those vehicles. In addition, LEAF will retain the lease origination and management platform as well as Santa Barbara's small ticket leasing teams including senior management, originations, and operations personnel and their relationships with a network of more than 200 third-party originators. After this acquisition, LEAF will manage more than $1 billion of commercial leases and finance assets for its own account, individual, and institutional investors.
Resource America, Inc. of Philadelphia has announced that its commercial finance subsidiary, LEAF Financial Corporation ('LEAF'), has significantly expanded its third-party lease origination capability and assets under management by entering into a definitive agreement to acquire the Leasing Division of Pacific
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.