Up, Up, and… AWAY!

Up, Up, and….AWAY! A common component in virtually all commercial real estate loan documents is the provision addressing late fees that kick in upon a borrowers’ failure to make timely payments. Recent Arizona case law has changed the enforceability of certain provisions regarding particular late fees. In 2017, the Arizona Supreme Court issued an opinion … More Up, Up, and… AWAY!

In My Opinion

In My Opinion As a condition for making any kind of commercial real estate loan, lenders require a variety of assurances and representations from the borrower (and other key principals or guarantors) to verify that the borrower has the legal standing and ability to borrow (and payback) the loan. Beyond taking the borrower’s word for it, lenders … More In My Opinion

Feeling Committed

Feeling Committed Commercial real estate buyers using financing to acquire property often find themselves in limbo. Buyers are often required to spend substantial sums chasing a property (and assume a fair amount of risk) before knowing that their lender is absolutely committed to funding. Unfortunately, this market is not kind to financing contingencies (especially when … More Feeling Committed

Room For Improvement

Room For Improvement New space being leased in any office, retail, or industrial property will need to be tailored for a particular tenant.  Alternations can range from relocating interior walls or partitions to full blown construction with all the trimmings.  Like most lease issues, deciding who will bear the costs associated with the build-out and … More Room For Improvement

Long Live the King

Commercial property owners brace for an uncertain future. With $814 billion in commercial real estate loans expected to mature by 2011, there is substantial concern among analysts that a series of commercial loan defaults is looming. In another attempt to loosen credit and extend commercial real estate lending, the Federal Reserve and Treasury Department announced … More Long Live the King

Investor’s Anti-Deficiency Deficiency

Investor’s Anti-Deficiency Deficiency           Substantial changes to Arizona’s anti-deficiency law are coming. On July 10, 2009, Arizona Governor Brewer signed SB 1271 into law, which is effective September 30, 2009. This law will have a profound impact on developers and investors of Arizona’s residential real estate market. In the meantime, many questions have arisen about … More Investor’s Anti-Deficiency Deficiency

Treatment For Troubled Assets

Treatment For Troubled Assets From its inception, the Public Private Investment Program (PPIP) was considered to be a key component of the Treasury Department’s Financial Stability Plan.  The PPIP was designed to attract private capital with financing incentives to acquire various troubled legacy loans (including residential and commercial mortgages) and the legacy securities backed by … More Treatment For Troubled Assets

So Opus Goes, So Goes CRE

Troubles continue to mount for Phoenix-based Opus West Corp.  The onetime CRE behemoth announced that it has engaged legal counsel to “explore restructuring options.”  Given its success and stature, Opus West is widely regarded as a leader in the local commercial real estate industry and, if they are having trouble, it is widely believed that this is … More So Opus Goes, So Goes CRE