Automating commercial real estate ‘back end’ tasks is a major objective for running the enterprise efficiently and freeing up important resources for strategic planning and catalyzed innovation. This series kicks off with a deep dive into the digital infrastructure of most commercial real estate companies. It continues with reviewing opportunities for investment management automation and introduces proven use cases of process automation in commercial and corporate projects. Thought leaders from some of the most automated real estate organizations in our market share insights on their integration initiatives and talk about the challenges and benefits of their own process automation projects.
There are multiple investment management enterprise solutions on the market but picking the right set for your organization can be a challenging endeavor. This session features commercial real estate industry experts discussing their vendor selection process, the scope of their implementation, subsequent integrations, and their technology roadmap.
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REALTORS Land Institute
Do you know the largest transitional land project ever undertaken? Want to see some of the neatest transitional land properties RLI Members have conducted? Ready to be inspired and learn to think outside the box? Transitional land opportunities exist everywhere, from large metropolitan areas to small regional cities.
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Mezzanine financing allows borrowers to obtain financing in addition to a mortgage loan, but mezzanine loans add complexity, with additional documents, legal opinions, and third-party reports. Mezzanine lenders require separate consent rights for various actions by the borrower, and restructuring a nonperforming loan is especially problematic given the diverging interests of the mezzanine and mortgage lenders.
Since the mezzanine lender's security interest is in the borrowing entity rather than the property, it must conduct entity-level diligence, including analyzing potential claims and agreements entered into by the property owner. Existing contracts and licenses might contain restrictions on transfer--the pledge securing the mezzanine loan or any foreclosure of the pledge could violate such limits.
The mezzanine loan agreement should track the mortgage loan agreement, with mortgage loan representations recast to refer to the mezzanine borrower and the mortgage borrower. The mezzanine borrower and the mortgage borrower should be required to comply with entity-level covenants and property-related covenants.
The mezzanine borrower's obligations are secured by a UCC pledge of equity interests in the property owner. The pledge can be perfected under Article 8 of the UCC. The mezzanine borrower's ownership interest in the mortgage borrower must be certificated so the mezzanine lender can take physical possession of the membership certificates. The operating agreement should also include Article 8 opting-in language.
Listen as our authoritative panel discusses the nuances of mezzanine financing.
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Whether you know it or not, anyone who works in the housing industry is likely impacted by the historical practice of redlining. Redlining is the discriminatory and systemic denial of services to those residing in communities associated with a certain racial or ethnic group. By hindering the economic development in neighborhoods populated by ethnic minorities, redlined areas become underdeveloped and undervalued while their residents become poorer.
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