Residential vs commercial real estate webinar

With the new year just around the corner, Seniors Housing Business magazine will host a webinar to discuss where valuations are and what 2022 holds for the seniors housing industry.While occupancy and construction starts aren’t expected to rebound to pre-pandemic levels until late 2022, some industry experts are forecasting turbo-charged investment activity in the new year. Given the amount of dry powder private equity firms have on hand and are looking to deploy, seniors housing’s strong market fundamentals make it an attractive option.

From multifamily to corporate real estate, it’s usually not easy to make the invisible important to buyers and tenants. Air filtration calculus and material chemical composition just isn’t as compelling as skyline views and granite countertops — nor is the invisible as easy to showcase. But in the current environment the ways that our interior spaces are helping keep us safer and healthier lead the benefits list for nearly every customer. Hear how real estate leaders on both coasts are creating people-first places and readying them for a real estate market that has changed forever.

Overlooking issues during the due diligence process can cost you time, negotiation leverage and it opens the door to expensive surprises after closing. The numerous areas of inquiry - combined with limited timeframes and pressure to cut corners - means that mistakes are easy to make. Is your due diligence comprehensive? This guide will explore the top due diligence oversights so you can effectively avoid them in your practice. Prevent bad deals and ensure a smooth transaction - order today!

Mezzanine loans have become the preferred vehicle for subordinate financing in real estate transactions. The repayment obligation is typically secured by a perfected UCC security interest in the mortgage borrower's equity interests. Counsel should have a thorough understanding of how the foreclosure remedy is exercised under Article 9 and the mezzanine foreclosure ramifications for the mortgage borrower, mortgage lender, and other parties to the transaction. Before commencing foreclosure, the mezzanine lender must review all relevant transaction documents, including UCC insurance policies. If the debtor "opted into" Article 8, the lender must locate the certificate. Counsel must understand the mortgage lender's rights and the rights of any senior mezzanine lenders, ground lessors, or other parties with interest in the underlying property. An intercreditor agreement will likely provide the most significant input into the timing and nature of remedies vis a vis other lenders. Article 9 provides that a public sale must be conducted in a "commercially reasonable" manner, with advance notice to all relevant parties under Sections 9-611 and 9-612. The public must have a "meaningful opportunity" for competitive bidding, requiring some form of advertisement or public notice preceding the sale. The location and manner of the sale should be appropriate to allow for public access to the disposition. Recent New York case law indicates that "commercially reasonable" may entail more stringent standards in light of foreclosure moratoriums and the continuing impacts of the pandemic on real estate properties. The mortgage may limit the transfer of ownership interests in the mortgage borrower to a "qualified transferee," generally defined as either the mezzanine lender itself or an institutional investor meeting specific requirements. This significantly restricts the potential universe of purchasers at a foreclosure sale, and the process of "qualifying" the winning bidder may inject uncertainty surrounding the ability of a buyer to close.