Owner of industrial land sues over new lease-rent law
This is a discussion on Owner of industrial land sues over new lease-rent law within the Other Real Estate Law Matters forum, part of the REAL ESTATE & PROPERTY LAW category; Pacific Business News (Honolulu) - by Janis L. Magin Hawaii’s largest owner of industrial land said Friday that it has ...
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Aug 16th, 2009, 01:09 AM
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Owner of industrial land sues over new lease-rent law
Pacific Business News (Honolulu) - by Janis L. Magin
Hawaii’s largest owner of industrial land said Friday that it has filed a federal lawsuit challenging a new state law that aims to limit rent increases on its tenants in Honolulu. The lawsuit filed in U.S. District Court in Honolulu by HRPT Properties Trust (NYSE: HRP) claims the law, passed during this year’s legislative session, violates the U.S. Constitution. “HRPT intends to make no further public statements about this litigation at this time,” the company said in a statement issued Friday. The new law requires renegotiated rent on property owned by the Newton, Mass.-based real estate investment trust in Mapunapuna to be “fair and reasonable.” More... HRPT sues over new lease-rent law - Pacific Business News (Honolulu) |
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