A Practical Guide to Commercial Real Estate Transactions: From Contract to Closing, Third Edition / Edition 3

by Gregory M. Stein, Morton P. Fisher, Michael D. Goodwin

Overview

For proven guidance and techniques for handling a commercial real estate deal, turn to the revised and expanded edition of A Practical Guide to Commercial Real Estate Transactions. Organized to help you negotiate and close the deal, this readable guide follows the steps of a transaction in the order in which they generally arise and offers pertinent advice, practice comments, and sample forms.

Because much of the real estate lawyer's practice revolves around transactional documents, the book emphasizes the drafting, negotiation, and revision needed to get a deal closed. Written by a law professor and two real estate practitioners, this book offers a useful combination of text overview and practice pointers. It helps lawyers with less experience navigate through the maze of steps involved in a real estate transaction. At the same time, it serves as a valuable reference for more seasoned attorneys as well as those whose practice is concentrated in other areas of the law. Downloadable forms and appendices are available online.

Product Details

ISBN-13:	9781634254861
Publisher:	American Bar Association
Publication date:	08/07/2019
Edition description:	3rd Edition
Pages:	638
Product dimensions:	5.90(w) x 8.90(h) x 1.30(d)

About the Author

Gregory M. Stein is the Associate Dean for Faculty Development and Woolf, McClane, Bright, Allen & Carpenter Distinguished Professor of Law at the University of Tennessee College of Law, where he teaches property, real estate finance, real estate development, and land use courses. He regularly contributes law review articles and continuing legal education chapters in these areas, and he speaks frequently on these topics. He is a Fellow and a member of the Board of Governors of the American College of Real Estate Lawyers. Prior to joining the faculty of the University of Tennessee, Stein practiced commercial real estate law with Paul, Weiss, Rifkind, Wharton & Garrison in New York. He is a graduate of Harvard College and Columbia Law School.

Morton P. Fisher, Jr., is a retired partner in the Baltimore office of Ballard Spahr Andrews & Ingersoll, LLP. He has been involved in a variety of real estate transactions, representing developers, lending institutions, commercial tenants, and other parties. He lectures and writes regularly on real estate topics and is a former president of the American College of Real Estate Lawyers, a former chair of the American Bar Association Section of Real Property, Trust and Estate Law, and a member of the American Law Institute. Fisher is a graduate of Dartmouth College and Yale Law School.

Michael D. Goodwin is a partner in Arnold & Porter LLP’s Washington, DC, office and chair of its national real estate practice. His practice encompasses all facets of commercial real estate, with particular emphasis on development, public/private partnerships, debt and equity financing, ground leases, and hospitality. Goodwin is a Fellow and a member of the Board of Governors of the American College of Real Estate Lawyers. He is a graduate of the University of Chicago and Harvard Law School.

Table of Contents

Part I: Introduction Chapter 1: Introduction Part II: Purchase and Sale Transactions 9Chapter 2: The Purchase and Sale AgreementChapter 3: Due Diligence Part III: Loan TransactionsChapter 4: The Loan CommitmentChapter 5: Post-Loan Commitment Due DiligenceChapter 6: Loan Documents Part IV: The Closing Chapter 7: Preparing for the ClosingChapter 8: Running the ClosingChapter 9: Post-Closing Matters AppendicesAppendix A: Form of Letter of Intent Appendix B: Form of Purchase and Sale AgreementAppendix C: Form of Due Diligence and Closing ChecklistAppendix D: Checklist of Title EndorsementsAppendix E: Lease Review Summary FormAppendix F: Form of Subordination, Nondisturbance, and Attornment AgreementAppendix G: Form of Loan Agreement Appendix H: Form of Promissory NoteAppendix I: Form of Mortgage and Security AgreementAppendix J: Form of Assignment of Leases and RentsAppendix K: Form of Environmental Indemnity AgreementAppendix L Form of Nonrecourse Carveout GuaranteeAppendix M Form of Certificate of Secretary, with Attached ResolutionsAppendix N Form of Post-Closing Agreement Appendix O Form of Closing Instruction Letter

Editorial Reviews

"Rare is the guide that can appeal to all experience levels of practitioners. New as well as seasoned commercial real estate lawyers will benefit immeasurably from this superb guide written by three of the most respected real estate lawyers in the United States. A Practical Guide to Commercial Real Estate Transactions, Third Edition, provides readers with a comprehensive, yet practical, journey through the life cycle of a real estate transaction. Starting with a purchase and sale agreement and moving to the due diligence and financing stages, the authors identify the issues and approaches that practitioners may want to consider in shaping their own real estate transaction. This is a guide that I will keep close at hand."

Kevin L. Shepherd

"A Practical Guide to Commercial Real Estate Transactions succeeds in its goal: helping the transactional lawyer close the deal. It is a superb blend of standard detail and suggestions for individual tailoring. The 'Caution' and 'Comment' sections interspersed throughout the book are particularly insightful."

Peter W. Salsich