TELESEMINAR: Ground Leases: Structuring and Drafting Issues – A National Perspective
October 8, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Ground leases are sophisticated contracts combining the elements of a buy/sell agreement, a conventional commercial lease, and a 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 special drafting. This program will provide you with a practical guide to understanding how ground leases work, and negotiating and drafting the underlying document.
- Most important provisions of ground leases
- Understanding the underlying economics of ground leases
- Methodologies for rent resets to reflect risk and value over time
- Mortgagee leasehold protections
- Restrictions on the use of premises and improvements over time
- Special condemnation considerations
Joshua Stein, Joshua Stein, PLLC, New York