Commercial Real Estate Transactions
Anatomy of a Commercial Real Estate Deal
As your commercial real estate counsel, our three goals are to assist you (i) in securing and maximizing your financial return, (ii) in maintaining control over your project and business and (iii) in minimizing your business and personal liability.
With those three goals in mind, we assist you in reviewing, negotiating and drafting the following agreements:
- The agreement with your commercial broker who helps you locate your property.
- The letter of intent summarizing the primary deal points in the purchase of your property.
- The contract of purchase and sale to purchase your property, including the contract contingencies, representations and warranties.
- The commitment to provide title insurance issued by your title company and the documents of record that encumber your property, including restrictive covenants and easements.
- The survey of the property and its boundary lines, any appurtenant easement tracts needed for access to your property and any improvements located on your property.
- The zoning for your property so that you can use it for your intended purposes.
- The leases for anchor tenants and other important tenants of your property.
- The filed articles of organization or certificate of partnership, organizational minutes and operating agreement or limited partnership agreement of the new limited liability company, limited partnership or other business entity that your lender will require you to charter in order for you to borrow the loan secured by your property.
- The loan agreement with your lender and the numerous ancillary documents required by your lender, including the following:
- your promissory note
- personal guaranty
- deed of trust
- assignment of leases and rents
- security agreement
- financing statement and
- borrower’s resolutions.
- The deed to convey the property to you, including the exceptions to conveyance negotiated with the seller and any restrictive covenants governing your future operation of your property.
- The joint access or driveway easement with your neighbors.
- The bill of sale to convey fixtures and the appurtenant personal property.
- The assignment of leases pertaining to your new tenants.
- The construction contract with your contractor, including the following:
- affidavits of commencement and completion and
- partial and final releases of lien and
- The final title policy issued by the title company to insure the title of your property.
Please contact us for assistance in closing your real estate transaction.