Increased interest rates, inflation, cash flow problems, and compressed returns on investment classes have negatively impacted the short- and long-term commercial real estate market across many sectors. Adaptive trends have caused many businesses to reevaluate lease renewals, loan workouts, sources of cash flow, and how they operate or reshape their businesses. These trends have led lenders, owners, investors, and developers to respond by rethinking the solutions and alternative remedies of bankruptcy and various creditors rights in light of the current conditions.
Commercial real estate investment vehicles like 1031 exchanges and now Delaware Statutory Trusts (DSTs) are gaining more attention and increasing in popularity due to the greater income potential, competitive risk-adjusted returns, and the significant tax benefits they offer. While many real estate practitioners are well-versed on 1031 exchanges, many remain unfamiliar with DSTs - an investment vehicle that has existed for a while but became more attractive after the 2008-2009 financial crisis. DSTs, which are used for passive ownership in institutional-quality assets at a comparatively low minimum investment cost, offer great investment potential for investment clients. However, they are complex vehicles and transactions to execute, posing several pitfalls and traps for the unwary. Take this course so you can step over these transaction landmines!
A well thought out construction contract is the foundation of every complex commercial project. Much like a faulty building design, a faulty construction contact can sink a project, leaving it mired in costly litigation that could take years to settle.
Although construction and real estate lawyers’ duties differ during these projects, intra-contract coordination is crucial to work through the web of interrelated provisions to avoid project disruptions. Real estate attorneys need to not only know what provisions are most likely to cause trouble, but also how to customize a contract beyond the standard form contract to best fit the particulars of the project.
The Financial Crimes Enforcement Network (FinCEN) implements and enforces the Bank Secrecy Act (BSA), which has long required financial institutions to prevent and report money laundering and terrorist financing. FinCEN’s anti-money laundering (AML) compliance obligations, which previously only applied to the financial industry, are now looking to expand, as evidenced by FinCEN’s December 2021 Advance Notice of Proposed Rulemaking. That proposal suggests instituting a broader regulatory framework to ensure consistent reporting nationwide and curb illicit financial activities involving non-financed real estate transactions. With the U.S. real estate industry now in regulatory crosshairs, compliance process reviews and risk assessments will also soon be on the horizon.
Because commercial real estate intermediaries often are not financial institutions, they may not be familiar with the intrusive nature of AML information collection and reporting requirements. If you provide legal advice on or participate in commercial real estate transactions, join us for this program and gain a better understanding of the requirements with which brokers, agents, managers, corporate service providers, and other key players will need to comply.
Despite the prevalence of real estate investment trusts (REITs), they remain complex real estate vehicles with many opportunities to set up or operate incorrectly. Many practical formation and implementation considerations must be taken into account before stepping into the REIT world. Practitioners must also appreciate the delicate balance of tax, corporate, and real estate demands required of a successful REIT.
In many large real estate finance transactions, a legal opinion can be the key to closing the deal and doing it smoothly. There is a good reason for this: opinion letters provide the professional judgment of the borrower’s counsel on a variety of legal issues relating to the borrower and the transaction, and often provide both sides with a level of confidence needed to go forward. To execute an effective letter, you need to know what you can do to best represent and insulate your client and yourself from unnecessary exposures. Learn about the basics of an effective opinion letter, how to avoid common mistakes, and refine your drafting skills after attending this 90 minute deep-dive discussion.
As real estate sponsors and investors emerge from the COVID-19 pandemic, they are experiencing immense pressure to put investment capital to work by acquiring and developing properties in an increasingly competitive market. More and more, joint ventures have become the tool of choice for projects. The marketplace environment, however, is constantly changing as the negotiating leverage between sponsors and investors continues to shift and it is essential that practitioners handling these transactions keep abreast of current developments in this area. Register for this program, presented from the perspectives of both sponsors and investors, for a hands-on guide on how to navigate the issues arising more frequently today in joint venture transactions.
Whether you are a real estate practitioner knee-deep in deal negotiations or a construction attorney scoping out a project, it is important to understand how to tailor AIA industry documents to meet your client needs. Documents B101, A201, and A133 are ubiquitous in the world of construction. However, like many things prepared by an industry committee, one size does not fit all and these documents require your attention and most likely – your amendment. In fact, portions of these documents need revision if your perspective is other than that of an architect. Owners may seek greater protection from missteps and a more exact description of their expectations; construction managers may need flexibility to address the realities of complicated construction projects, as well as assurance of payment. In this program, we will suggest appropriate modifications to portions of these documents, varied based on your party perspective.
Exploring a full range of cutting-edge issues and drawing professionals from across the country, this annual conference is “the place to be” for all eminent domain and land use practitioners. Whether your interests include relocation, regulatory takings, inverse condemnation, or valuation issues, topics abound for everyone through a customizable curriculum.
Experienced practitioner? Choose from dual afternoon tracks addressing key issues in substantive takings law, or choose from an array of sessions chock full of practice pointers. New to the practice, or need a refresher? Attend the Condemnation 101 “bootcamp” sessions on Thursday, and then join the other attendees for the rest of the conference’s more advanced sessions. Either way, you’ll learn from recognized and experienced professionals representing the diverse stakeholders in these cases.
This year’s topics will dive into 3 Supreme Court opinions from the most recent term: Cedar Point Nursery v. Hassid, Pakdel v. City and County of San Francisco, and PennEast Pipeline Co. v. New Jersey. We'll also have a keynote address from Arizona State law professor Karen Bradshaw who will discuss "Do Animals Have Property Rights?" Other topics include:
• Property Rights and Civil Rights
• Eminent Domain National Update
• Just Relocation: Understanding the Law and Regulations to Ensure Fairness
• Challenging Public Use: Lessons From a 67-Day Trial
• COVID Takings
• Court and the Daubert Challenge: How to Prepare
• How to Position Your Client for the Fallout When Projects Don't Get Built
• Rural Broadband and the Emerging Constitutional Challenges
• How Condemnor and Property Owners' Counsel Prepare the Battlefield
• How Will the Trillion Dollar Infrastructure Bill Impact Your Practice?