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Joining several other state and federal decisions from around the country, the Arizona Court of Appeals ruled that the COVID-19 pandemic and subsequent state restrictions and shutdown orders were not excuses for tenant Fitness International to miss their rent payments to its landlord Vereit Real Estate under its commercial lease.
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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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