Compliance deadlines for Local Law 97 of 2019 are steadily approaching, with the first reporting date being May 1, 2025, at which time owners of buildings covered by the law will be required to report compliance with the prior 2024 fiscal year mandates. Conformity to the carbon emission requirements will require building owners in New York City to undertake immediate action, if not already started.
The Economic Crime (Transparency and Enforcement) Act 2022 came into force on 1 August 2022 and places new obligations on overseas entities holding real estate in the United Kingdom.
In our July edition of REF News and Views we began our deep dive into the Sustainability-Linked Loan Principles core components. Here we will continue our examination into the Core Competencies and look at loan characteristics, reporting progress against sustainable performance targets, and verification.
Despite the fluctuations in the capital markets this year, European warehouse funding for granular, small and medium balance commercial real estate mortgage loans remains stable.
President Biden signed the Inflation Reduction Act of 2022 into law on August 16. Here is a summary of the tax provisions in the Inflation Reduction Act likely to be of interest to U.S. corporate taxpayers, financial institutions, hedge funds, private equity funds, and their investors − and to the real estate industry. You can read our Tax Group's analysis here.
Here is a rundown of some of Cadwalader's recent work on behalf of clients.
