A ground lease can be an attractive method to develop commercial property. However, the tenant/developer's ability to obtain financing is crucial to a development's success using a ground lease.
Counsel must consider the potential lender's interests in the negotiation of a ground lease between the landlord and tenant. Counsel's primary task is to balance all the competing interests concerning each key provision, such as subordination, right to cure, and consent.
A lender's lien on a financeable ground lease is secured by a leasehold mortgage drafted to address the lender's and borrower/tenant's interests during the term of the lease and in the event of foreclosure.
Listen as our authoritative panel of real estate attorneys discusses how to balance the competing interests of the owner, lessee, and lender to create a financeable ground lease.
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