How to Tackle the Top Workforce Challenges Facing Senior Living Communities

In construction loans, the lender advances a small portion (or none) of the loan at closing since the proceeds are intended to fund construction costs as incurred. The conditions for advancing funds are often complicated because there are three participants--the lender, the borrower, and the contractor--and in part, because actual costs may vary from the construction budget. Most construction loan agreements provide for shifting cost savings for one item to another item in the budget. Construction budgets will usually incorporate "contingency" to be applied by the borrower to pay for cost overruns for items in the budget, subject to certain conditions. Documents must provide for retainage for unforeseen costs to ensure the completion of the project. A construction loan is unique for title insurance because disbursements are made post-closing, and property increases in value with each disbursement. Title insurance must be in place to cover the loan amount as it is funded. Counsel to the lender must structure the loan to ensure the priority of advances and procure title insurance (including appropriate endorsements at closing) consistent with that priority. Also, the borrower will typically need to obtain lien waivers or lien subordination as disbursements are made. Listen as our authoritative panel discusses the construction loan funding process and the need for increasing title insurance coverage as funds are disbursed. The panel will discuss budgeting and construction draw provisions in loan agreements, future advance clauses, and other practices for preserving the senior position of the mortgage over mechanic's liens and the title endorsements to obtain at closing.

Before taking the plunge into commercial real estate investing, one should have a clear understanding of how to select the right location, preferred type and class of property, what due diligence to do, how to secure financing, how to negotiate a deal, and how to manage the property going forward as a commercial landlord. This Financial Poise panel explains the process from looking for the investment, to contract, to closing, and beyond.

This programme of webinars provides a short and incisive review of some key topics relating to real estate, health and safety, planning and construction in the United Kingdom. In anticipation of the Commercial Rent (Coronavirus) Bill receiving Royal Assent and coming into force in March join us for a quick review of what it means, what debts are caught and how the arbitration scheme will work.

In today’s commercial real estate landscape, most markets are highly saturated and developers are attempting to “out-amenitize,” “out-incentivize” and “out-build” the building next door. Commercial real estate is highly commoditized, but it doesn’t need to be especially for those armed with the right insights.