Letters of Intent: Defining Terms for Efficient Lease Negotiations

Lorman

Before committing to any real estate transaction, the 'deal terms' need to be put in writing so that the parties can engage their respective team members to understand and model the design, construction, financial and operational assumptions and key business terms associated with the transaction. The initial document where these concepts are identified is the 'letter of intent'. While for the most part non-binding, the letter of intent serves as the moral compass for the deal. How to get to the letter of the intent stage in a transaction, what to put in the letter of intent and how to avoid being caught in a 'binding' contract as a result of what is stated in a letter of intent are important concepts to understand in any lease transaction.
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At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory, and tax services


OTHER ON-DEMAND WEBINARS

GSA Lease Negotiations and Due Diligence

Lorman

The federal government is the countries? biggest 'tenant' by far, if not in the world. In both strong and not-so-strong economic times, the federal government is always in the market for new or replacement space ranging from state of the art office space to simple warehousing requirements.? When the commercial real estate market is in the doldrums, the federal government is always still there.? Understanding how to successfully deal with the government and obtain a long-term stream of rental income? should be a critical aspect of any prudent lessor's an investor's knowledge portfolio.
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Property Management On-Demand Webinar

binarystream

Streamline your property management operations with an end-to-end property lease management solution for Microsoft Dynamics GP. We take the complexity out of the lease management process, giving you full control of lease administration, billing, and reporting.
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Commercial Real Estate Portfolio and CMBS Loan Workouts: Forbearance, Foreclosure and Bankruptcy

Strafford

Workout agreements allow loans to be restructured to protect an owner’s interest in property and the lender’s investment. Counsel for both parties must strategically negotiate such agreements to ensure that their clients can pursue their original remedies in the event that the workout fails. Well-structured forbearance agreements or waivers are essential to protecting a lender’s position. Counsel representing lenders must anticipate and successfully navigate obstacles during the negotiation process and avoid pitfalls that can result in lender liability challenges by borrowers. As workout agreements may then be followed by the borrower’s bankruptcy, counsel must also be mindful of the bankruptcy implications when drafting forbearance agreements. Understanding the automatic stay is critical and stipulations supporting relief in a bankruptcy must be carefully considered. Counsel should prepare special servicers to clearly understand the specific challenges they face in their duties. Special servicers must cope with their responsibilities under pooling and servicing agreements and other rules that can challenge their goal of maximizing recovery. Counsel should also prepare borrowers for the limitations to which special servicers are subject and the range of options available to special servicers so that the parties have the best opportunity to explore realistic outcomes for a workout or resolution of distressed real estate collateral assets.
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Construction Webinar: Budgeting for Success

SBS Group

As a contractor, budgeting is critical to ensuring profitability. Watch SBS Group's 30-minute webinar and learn the fundamentals of budgeting including: assembling a team, understanding costs, revenue-driven budgeting vs. profit-driven budgeting and tracking your progress with key performance indicators (KPIs)
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Spotlight

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory, and tax services

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