Rent_Lease

Important Issues to Consider Before Entering into a Commercial Sublease

A properly structured sublease can be a prudent strategy in a commercial lease transaction. However, if poorly drafted, a sublease can unnecessarily expose all three parties (the landlord, tenant and subtenant) to unforeseen liabilities and risks. Continue reading »

My LLC is Manager-Managed – Does it Matter?

Given its flexibility regarding structure and tax treatment, limited liability companies (LLC’s) remain one of the most popular entity types in the State of Washington for real estate and business ventures.  When forming a new LLC, or purchasing interests in an existing LLC, you will be faced with whether the LLC is or will be manager-managed or member-managed.  This is … Continue reading »

Rent_Lease

What is an SNDA and Why is it Important?

A Subordination, Non-Disturbance and Attornment Agreement (an “SNDA”) is often an underappreciated but extremely important document in a commercial lease transaction.  An SNDA is an agreement among a lender, its borrower (the landlord), and the tenant, detailing the rights of the parties in the event the landlord defaults on the loan and the lender forecloses and becomes the property owner/landlord. … Continue reading »

Buyer_Beware

Proper Due Diligence is Critical When Purchasing Real Estate

When purchasing improved or unimproved real estate, whether residential, commercial, industrial or mixed-use, performing proper due diligence is of critical importance to insure that the purchaser is truly getting the benefit of the bargain.  Ideally, the diligence process begins by building into the purchase contract, among other things: (1) a due diligence/inspection period of sufficient length within which the purchaser … Continue reading »