The process of putting together a commercial real estate buy/sell agreement continues to become more difficult. Reps and warranties have become more extensive, laborious in detail, and difficult to negotiate. Financing contingencies have become lengthy and surpassingly complex in reflection of tight commercial credit. Due diligence has become lengthier, more invasive and costlier. At every stage ofthe process, buyers want additional information, protection and concessions, and sellers want closing certainty. This program, led by attorneys with several decades experience in commercial real estate, will discuss the major components of commercial real estate buy/sell agreements, negotiating the operative documents and ensuring a successful closing in a difficult market. Day 1: June 26,2012: Planning the process – letters of intent, negotiations, closing process Due diligence depending on the type of deal – title, environmental, entitlement work, tax and finance issues Understanding the minefield of seller’s reps and warranties Buyer and seller’s covenants in a volatile market Deposits of money Day 2: June 27,2012: Issues for income producing properties, multiple family properties, and distressed properties Finance issues in operative agreements, including finance contingencies, and working with commercial lenders Conditions to closing and reducing the risk of not closing Post-closing issues, baskets, escrow and contingencies Bankruptcy issues in operative agreements Speakers:John S.Hollyfield is of counsel and a former partner in the Houston office Fulbright & Jaworski, LLP, where he has more than 40 years’ experience in real estate law practice. He formerly served as chair of the ABA Real Property, Probate and Trust Law Section, president of the American College of Real Estate Lawyers, and chair of the Anglo-American Real Property Institute. He is co-editor of Modern Bankingand Lending Forms (4th Edition), published by Warren, Gorham & Lamont. He received his B.B.A. from the University of Texas and his LL.B. from the University of Texas School of Law.Richard R. Goldberg was a partner and is now senior counsel in the Philadelphia office of Ballard Spahr, LLP, where he has an extensive real estate practice, including development, financing, leasing and acquisition. Earlier in his career, he served as Vice President and Associate General Counsel of The Rouse Company for 23 years. He is past President of the American College of Real Estate Lawyers, past Chair of the Anglo-American Real Property Institute and past Chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B from the University and his LL.B. from the University of Maryland School of Law.
The process of putting together a commercial real estate buy/sell agreement continues to become more difficult. Reps and warranties have become more extensive, laborious in detail, and difficult to negotiate. Financing contingencies have become lengthy and surpassingly complex in reflection of tight commercial credit. Due diligence has become lengthier, more invasive and costlier. At every stage ofthe process, buyers want additional information, protection and concessions, and sellers want closing certainty. This program, led by attorneys with several decades experience in commercial real estate, will discuss the major components of commercial real estate buy/sell agreements, negotiating the operative documents and ensuring a successful closing in a difficult market.
Day 1: June 26,2012:
Day 2: June 27,2012:
Speakers:
John S.Hollyfield is of counsel and a former partner in the Houston office Fulbright & Jaworski, LLP, where he has more than 40 years’ experience in real estate law practice. He formerly served as chair of the ABA Real Property, Probate and Trust Law Section, president of the American College of Real Estate Lawyers, and chair of the Anglo-American Real Property Institute. He is co-editor of Modern Bankingand Lending Forms (4th Edition), published by Warren, Gorham & Lamont. He received his B.B.A. from the University of Texas and his LL.B. from the University of Texas School of Law.
Richard R. Goldberg was a partner and is now senior counsel in the Philadelphia office of Ballard Spahr, LLP, where he has an extensive real estate practice, including development, financing, leasing and acquisition. Earlier in his career, he served as Vice President and Associate General Counsel of The Rouse Company for 23 years. He is past President of the American College of Real Estate Lawyers, past Chair of the Anglo-American Real Property Institute and past Chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B from the University and his LL.B. from the University of Maryland School of Law.