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Meeting of the Minds
In the face of growing concerns about the impact of the built environment on the environment, the commercial real estate industry is facing increasing pressure to adopt and demonstrate better energy and sustainability practices. In the absence of other measurements, EPA Energy Star and USGBC LEED programs have gained considerable traction.
In the immediate aftermath of the credit crisis, borrowers experienced the tightening of cash management arrangements in real estate loans, particularly for those loans intended to be securitized. As the commercial real estate market is improving, are borrowers starting to see more borrower-friendly cash management structures? Terms and conditions of cash management systems are often very heavily negotiated. Lenders seek to ensure that debt service, property expenses and reserves are paid prior to funds being dispersed to the borrower. Hard lockboxes offer the most protection to the lender. Borrowers, on the other hand, want the most control over the revenues that flow from the property. Springing lockboxes allow the borrower more control over rents or revenues since they require the use of a deposit account only upon occurrence of a specified triggering event, such as loan default.
Strafford Publications, Inc
This CLE/CPE webinar will provide tax counsel with a thorough and practical guide to structuring strategies and tax considerations for foreign investors in U.S. real estate, outline best practices for determining the purchasing entity, and review tax planning opportunities in structuring the deal. The United States remains the most popular destination for foreign real estate capital investment. Critical for tax and investment advisers representing non-U.S. persons investing in U.S. real property is a comprehensive examination of optimal structures for the ownership vehicle and the mechanics of the purchase transaction itself.