News + ViewsThe source for news, press releases, and media mentions, about McCausland Keen + Buckman, as well as legal insights and industry briefs.

McCAUSLAND Keen + Buckman is one of the five founding law firms in the legal community who are part of the initiative to pledge money towards “Justice for the Hungry”, a fundraising challenge to Pennsylvania-based lawyers and law firms to combat food insecurity across Pennsylvania and beyond. Click above to learn more.

To show love to our neighbors this valentine's season, McCausland Keen + Buckman joined Surrey Services and created candy bags and Valentine's Day cards to be sent to homebound seniors.  Click above to learn more.

The commercial mortgage-backed securities (CMBS) market is sending mixed signals: distress is surging to levels unseen in over a decade, even as issuance in the first half of 2025 jumped by 35% over the same period in 2024.  This paradox warrants exploration of evolving market trends.

The Tax Cuts and Jobs Act of 2017 provides powerful tax incentives, which can defer, reduce, and potentially eliminate, capital gains tax for qualifying investments. The Act aims to stimulate development in economically-challenged areas designated as Qualified Opportunity Zones. Qualified Opportunity Funds (investing entities which meet certain criteria established by the IRS and the Department of the Treasury) can enjoy beneficial tax treatment if they invest in tangible property or equity interests in companies located in Qualified Opportunity Zones.

Under the 1031 Exchange rules, sellers of U.S. real estate are able to defer some or all of the capital gains tax on sales proceeds which are re-invested in replacement properties identified and purchased within particular timeframes after the date of the sale. But what if some of the seller’s members prefer to pocket their share of the sales proceeds (and pay the resulting capital gains tax) rather than re-investing those funds in a replacement property? One approach is to implement a like-kind exchange with a note structure. Click above to learn more.

Explaining the process, sequencing and business considerations of defeasance to anyone new to the world of securitized debt is an interesting experience.  Why?  Because nothing about defeasance is intuitive.  Very smart people can have a hard time absorbing the mechanics of defeasing debt and the interplay among the cast of involved parties.  This is my attempt to demystify defeasance. Click above to learn more.

Today, electricity and natural gas are de-regulated throughout the Northeast, Mid-Atlantic and Midwest, giving property owners in these regions the opportunity to reduce energy costs by buying energy directly from private suppliers.

On December 3, 2024, Valley National Bancorp (“Valley”) announced the sale of a $925,000,000 pool of its commercial real estate mortgage loans.  Notably, the loan pool was sold at a discount of approximately one percent to par value.  The timing of the sale is curious, as many industry professionals expect lower interest rates and stabilizing construction costs to drive a commercial real estate lending surge. 

How much can be read into Valley’s discounted divestment of a significant pool of commercial real estate loans?  The answer requires visibility into facts which are not publicly available.  How “solid” are the loan borrowers and the collateral properties?  Where are those properties located?  What asset classes are represented?  How close to maturity are the loans?    Further, should Valley (with commercial lending offices in 6 states) be considered a bellwether for US commercial real estate lending generally?     

Evolving regulatory requirements place capital and liquidity obligations on lending institutions, and these pressures can be exacerbated by the demands of the lender’s investors.  There is no mistaking that fluctuations in property values and rental incomes (particularly in the troubled office sector) can increase default risk and expose commercial real estate lenders to potential losses.  By divesting real estate assets, these lenders aim to reduce risk and shield themselves from sector-specific downturns, while potentially avoiding compliance issues and placating their shareholders.

Time will tell if Valley’s decision to sell was prudent - it will be interesting to see if other lending institutions follow suit.

The United States Supreme Court has granted property owners direct access to the federal courts for the resolution of eminent domain proceedings. The Court’s recent Knick v. Township of Scott decision overturns a 34 year old precedent which had required plaintiffs in takings cases to first seek just compensation in state court before bringing a federal action.