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It has long been the case that whenever the targeted assets in a merger and acquisition transaction include lease rights as to real property, a leasing lawyer has an opportunity to provide valuable services to the client in that M&A transaction. Leasing lawyers educate buying clients about the current status of the target’s leased real property assets, operations, rights, obligations, and liabilities and assist with plotting post-closing options. When representing sellers, leasing lawyers help their clients respond to diligence requests, evaluate and negotiate the sellers’ representations proposed by the buyer, and craft disclosure schedule content. For many years, these roles have remained largely unchanged. Over the past decade, however, the rising popularity of representations and warranties insurance (RWI) policies invites even the most sure-footed real estate leasing lawyer to consider whether (and if so, how) his or her role changes if the subject M&A transaction includes an RWI policy.
Third Circuit: Pre-Bankruptcy Commercial Lease Termination Not Fraudulent Transfer
By Michael L. Cook
Is an insolvent debtor’s pre-bankruptcy termination of a commercial lease a fraudulent transfer? The circuit courts seem to be split, however a close reading of cases in the Third and Seventh Circuits shows that the reasoning of both courts can be reconciled on their facts.
By Stewart E. Sterk
Can a municipality’s refusal to permit expansion of a pre-existing nonconforming use constitute a federal constitutional violation? The federal district court for the Eastern District of New York faced that question and awarded summary judgment to the municipality, rejecting the landowner’s substantive due process and takings claims.
5 Most Commonly Required Guaranties In Commercial Real Estate Loans
By Peter E. Fisch and Salvatore Gogliormella
In general, commercial real estate loans are non-recourse in nature and the lenders ultimately look to their collateral for the satisfaction of the borrowers’ obligations if the loan goes into default. However, lenders typically require guaranties from individuals or entities, making the guarantors personally liable for certain obligations.
The Future of the Office Real Estate Market
By Anthony F. DellaPelle
It appears that at least some form of hybrid work schedules — much more than existed pre-pandemic — are likely here to stay. How these increased trends may impact the office market and demands for office space in the foreseeable future remains to be seen.
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