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Category Archives: Pre-lease Issues
How reliable are Lease Comps?
In office lease negotiations, like most other negotiations, there’s the “sticker price” and the final deal terms. As to the latter, landlords and office brokers frequently talk about comparable lease transactions, a/k/a, “Lease Comps”. Many tenants confuse the reliability of … Continue reading
Filed under: Pre-lease Issues
Tagged deal comps, lease comps, office lease deals, office rent
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Update on Proposed Lease Accounting Changes – Heeding Industry Comments
Responding to the comments from the corporate real estate industry, several weeks ago the joint accounting boards (FASB and IASB) softened their position on some controversial points in their August 2010 draft lease accounting proposal. Two major criticisms of the … Continue reading
Filed under: Pre-lease Issues, Uncategorized
Tagged FASB, finance lease, IASB, Lease Accounting, other-than-finance lease, significant economic incentive
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A watch-list, a special servicing event, and maximizing NPV recovery all have this in common.
Question: “What is a landlord with a troubled CMBS loan?” Back in the day, a landlord may have had a loan with a life insurance company in Iowa or a pension fund in California that retained the loan through maturity. … Continue reading
Filed under: Pre-lease Issues, Superior Interests
Tagged CMBS, landlord default, special servicer
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Plugging the Lender Loophole: Tenants need Nondisturbance Agreements
Taking advantage of the depressed office market, as a savvy tenant you just renegotiated your office lease reducing your rent and locking in a low rent structure for the next several years. But did you close a big loop hole … Continue reading
Filed under: Pre-lease Issues, Superior Interests
Tagged Attornment, foreclosure, landlord default, lender consent, Nondisturbance, SNDA, Subordination
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Tenants’ Due Diligence of Landlords: Landlord Background Check
Today’s office market presents unprecedented opportunities for tenants. At the same time, tenants face risks that were uncommon a few years ago related to the financial well being of landlords. With some of the biggest names in the industry struggling, … Continue reading
Filed under: Pre-lease Issues
Tagged Landlord Due Diligence, Landlord financial strength, Nondisturbance, safeguarding tenant's interests, self help rights
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Proposed Lease Accounting Changes: What It Means To Tenants
Responding to the need for greater transparency in financial markets in the post-Enron era, a new accounting standard is being presented requiring tenants (both public and private companies) to recognize the current and future value of all leases on their … Continue reading
Filed under: Lease Audit, Pre-lease Issues
Tagged Capital Lease, Exposure Draft, FASB, FASB Statement 13, IASB, Lease Accounting, Lease Accounting Change, Operating Lease
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