Binary Fountain and MHN
Multifamily properties sometimes receive online ratings that don’t reflect their owners’ commitment to a positive resident experience. Can perceptions formed by negative reviews be successfully countered? View to learn how Gene B. Glick developed a successful marketing strategy to restore its properties’ “digital curb appeal.”
Real estate lawyers use ROFOs, ROFRs, and purchase options in several contexts, including all types of commercial leases (office, retail, industrial, warehouse), ground leases, condominiums, and planned developments. Purchase rights can have a far-reaching impact on the grantor, holder, and subject property but are often an afterthought in the underlying transaction. They must be drafted with care, taking into account potential changes in parties and circumstances which may occur years later.
We will discuss best practices for drafting purchase rights, including the following considerations. The agreement that includes a purchase right should state the conditions for exercising the right to purchase and include a "time is of the essence" clause. All notices and other documentation must be in writing, and the parties should be identifiable. The parties should specify whether the preemptive right is a one-time or continuing right, whether the agreement requires strict compliance in exercising the right, and whether it is assignable.
The grantor should consider the burden on the title to the property. The grantor may have difficulty financing, selling, or leasing the property due to the purchase right. Lenders typically require subordination of an existing right before making a mortgage loan. Purchase rights should contain precise subordination language that addresses financing and foreclosure contingencies so that no further subordination is required.
Listen as our authoritative panel discusses the nuances of ROFOs, ROFRs, and purchase options, as well as key provisions to include in each. The panel will also review the title ramifications of preemptive purchase rights and their impact on future financing and sales transactions.
Arbor Realty Trust
Join Charles Ostroff, SVP, Chief underwriter/credit officer, Single Family Rental at Arbor Realty Trust, along with experts from OwnAmerica and Yardi, for an in-depth discussion on:
- The state of the residential rental market
- Demographic research showing how the face of U.S. housing has changed
- The latest trends in the single-family rental market
When negotiating and drafting commercial real estate sales contracts, the purchaser and seller must anticipate and mitigate potential risks associated with the deal.
Risks may include environmental conditions impacting the property, title and survey issues, zoning concerns, lease and tenant issues, building code violations, and potential condemnation or other proceedings.
Skillfully negotiated representations, warranties, and remedies for breaches can protect the buyer, while the seller's objective is to limit the scope and survival of representations and warranties.
Listen as our authoritative panel of real estate practitioners provides strategies for buyers' and sellers' counsel negotiating representations and warranties and other key provisions in commercial real estate purchase agreements. The panel will discuss best practices for buyers and sellers to identify and allocate risks when closing a real estate deal.