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One of the many provisions of last year’s tax overhaul was the creation of a little-noticed program called Opportunity Zones, which was designed to give investors tax breaks for investments in designated areas. Little was heard about the program as governors went through the process of selecting where the Opportunity Zones would be located within their jurisdictions. The Treasury Department then formally designated over 8,700 low-income communities around the country as Opportunity Zones. Now, attention is starting to pick up as the program takes shape. The real estate community is expressing a lot of interest in the program, and so far at least one investment firm has launched an Opportunity Zone fund.
By Marisa L. Byram and Wheeler Frost
Assignment provisions in a commercial lease often boil down to the following seemingly simple, but more often than not complex, standard: that the lease may only be assigned or the premises subleased with the landlord’s consent, not to be unreasonably withheld. The following examples of case law illustrate how courts have construed this provision under various circumstances.
By David Kupetz and Asa Hami
Store closing or liquidation sales are a routine part of Chapter 11 cases involving retail debtors. These sales are consistently authorized by bankruptcy courts, despite lease provisions purporting to forbid them.
Phil Jelsma, a partner and chair of the tax practice team at a San Diego-based commercial real estate law firm talks about the changes to carried interest, how this will impact commercial real estate investment and what investors should do now to comply.
Insurance Lapse Deemed Not Curable
Uncertain Method for Determining Future Rent Dooms Renewal Rights