LIVE REPLAY: Drafting Ground Leases, Part 1

course

COURSE INFO

  • Presentation Date 8/26/2020
  • Next Class Time 1:00 PM ET
  • Duration 60 min.
  • Format Audio Webcast
  • Program Code 04212020c
  • MCLE Credits 1 hour(s)


Course Price: $75.00
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COURSE DESCRIPTION

Ground leases are sophisticated contracts combining the elements of buy/sell agreements, commercial leases, and a sophisticated financing.  A landowner enters a long-term lease with a developer who constructs a building or other improvements on the land. The developer generally finances the building, occupying it or leasing it out to other tenants, paying the landowner rent on the underlying ground over a long period of time.  There are many benefits of ground leases for the landowner and the tenant. But they are very complex agreements involving sophisticated economic calculations and require very careful review. This program will provide you with a practical guide tohow ground leases work, andnegotiating and drafting them.

Day 1:

  • Overview of important provisions of ground leases
  • Underlying economics of ground leases
  • Permitted use and change of use
  • Methodologies for setting and adjusting rent to reflect risk and value over time

 

Day 2:

  • Major financing issues, including subordination
  • Construction and development issues
  • Special condemnation and casualty considerations

 

Speaker:

John S. Hollyfield is of counsel and a former partner in the Houston office Norton Rose Fulbright, LLP.  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 has been named a "Texas Super Lawyer" in Real Estate Law by Texas Monthly magazine and is listed in Who’s Who in American Law.  He is co-editor of Modern Banking and 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.