Real Estate and Construction Law Blog
As high interest rates continue to shape the commercial real estate landscape, buyers are increasingly exploring alternatives to traditional financing. One such strategy—assuming the seller’s existing mortgage—can offer significant savings when the seller’s loan terms beat current market rates.
But executing a loan assumption isn’t simple. It requires close coordination with lenders, detailed contract language…
The article by Patrick Abell and Andrew Solomon provides guidance for landlords dealing with restaurant tenants who have gone out of business. It emphasizes the need for landlords to quickly regain control of the premises, either through a negotiated surrender of the space or formal eviction. Landlords should then promptly seek to re-let the space…
In the busy world of commercial real estate, buyers and sellers may be unable to complete all contractual obligations before closing. In those instances, parties often identify certain “post-closing” matters in the contract. Typically, if those provisions are not carefully drafted to “survive” the closing, then the terms may merge with the deed and be deemed satisfied at closing. However, in a 2022 Oregon case, Freeborn v. Dow, the Oregon Court of Appeals identified a nuance to that rule and explained that certain contractual matters may survive closing and not merge with the deed, regardless of the presence or lack of a survival clause.
It is no secret that the commercial real estate market has been one of the biggest losers of the great recession. Seattle is no exception and as if to belabor the point, it has been reported this week that Beacon Capital Partners, the owner of Seattle’s icon skyscraper, the Columbia Center, missed its $1.65 million…
