Tag Archives: Real Estate Investment

BloggeRS: Eva Lai ‘Proposal for new Chinese investment rules – Is UK property investment still attractive?’

Reports suggest that China proposes to impose greater monitoring of large outbound investments and potentially block state-owned enterprises from purchasing overseas property with a value of more than US$1bn in a single transaction. Additionally, permission may be required for the transfer of funds over US$5m. The previous threshold was US$50m. It is likely that more … Continue Reading

BloggeRS: Introducing Eva Lai ‘Mastering the art of “guanxi” for Chinese outbound investments’

As many of you are aware when doing business with Chinese investors you will need to come to terms with “Guanxi” – meaning relationships or connections outside the family. This is the core of Chinese society and culture. It is important for the Chinese to get to know the person with whom they wish to … Continue Reading

Please can I have your Autograph Mr Ramsay!

You might have seen some of the recent media coverage of Gordon Ramsay’s court case relating to a personal guarantee given to his landlord that was signed using an “automated pen” operated by his estranged business partner and father in law. A significant sum was at stake given the personal guarantee guaranteed the tenant’s obligations … Continue Reading

Bright Days for Large Scale Solar Operators; Sunstroke for the Smaller Players: Latest News on CfDs

National Grid has made its decisions as to eligibility for participation in the first Contracts for Difference auction but the auction process itself has been delayed as some applicants have asked Ofgem to review National Grid’s decisions. However, the Secretary of State for Energy and Climate Change, Ed Davey, by letter, assured the Select Committee … Continue Reading

(UK) Impact of budget for residential buyers

There was a surprise announcement in today’s Budget in relation to “high-end” residential property. The government has significantly extended the scope of the SDLT 15% “penal” rate that applies to acquisitions of residential property by non-natural persons (i.e. corporate entities). The 15% rate currently applies to individual residential properties worth over £2,000,000. From midnight tonight the 15% … Continue Reading

(US) California Nonresidential Building Owners Face New Energy Use Disclosure Requirements In 2014

Effective January 1, 2014, owners of nonresidential buildings of 10,000 square feet or more must disclose energy use information to prospective purchasers, lessees and lenders. Owners of nonresidential buildings 5,000 square feet or more can look forward to the same disclosure obligations beginning July 1, 2014. The new law (AB 1103) establishes a benchmarking system … Continue Reading

(US) Creative Financing-Let the Purchaser Do It

Despite the recent low interest rate environment, some projects just will not support market rate construction loans. What then is the developer to do? Over the last few years developers have begun to turn to the purchaser to finance construction of a project. This technique can be used for both residential and commercial development. Many … Continue Reading

(US) Land Banks: Too Good to Fail

This post was written by Dusty Elias Kirk and Gerald S. Dickinson. Pennsylvania municipalities and potential developers interested in converting vacant, abandoned, tax delinquent or foreclosed properties into productive use should take note of legislation enacted in 2012 that permits a municipality with more than 10,000 residents to create a land bank.1 Land banks are … Continue Reading

(US) First Step in Regulatory Relief for Condominium Developments

Last week, the U.S. House of Representatives voted unanimously to approve H.R. 2600, which, if ultimately passed, would expressly exempt condominium developments from the Interstate Land Sales Full Disclosure Act (“ILSA”). If a developer fails to satisfy ILSA requirements, a contract purchaser may have revocation rights; so an exemption from ILSA would be a welcome … Continue Reading

(UK) CRAR in a Nutshell

This post was written by Katherine Campbell and Siobhan Hayes Many landlords have used the ancient remedy of distress to apply effective pressure on their tenants to pay their rent in a timely fashion. The threat of the bailiffs at the door often persuades a tenant to pay what is due but that remedy is going … Continue Reading

(US) An Old Lesson Worth Learning Again: If It Is Important to You, Put It In the Contract!

A recent appellate court decision in Illinois emphasizes yet again the need for buyers to include any and all representations and covenants of sellers expressly in the real estate contract – if you expect to be able to rely on them and enforce them against the sellers later. In the case of Siegel Development, LLC … Continue Reading

(UK) Dilapidations claims and the impecunious landlord

This post was written by Katherine Campbell. Some positive news for landlords this week: The court has confirmed that, even where an outdated property stands little or no chance of being re-let following a tenant’s departure, a claim for the loss in reversionary value caused by the breach of the tenant’s repairing covenants is still … Continue Reading

(US) Cherryland Update: Is Turnabout Fair Play?

Last year in this space we reported on a pair of Michigan court decisions (51382 Gratiot Avenue Holdings, Inc. v. Chesterfield Development Company (Chesterfield) and Wells Fargo Bank, N.A. v. Cherryland Mall (Cherryland), which each held that a CMBS borrower’s insolvency could trigger personal liability on the part of its non-recourse carve-out guarantor. Those decisions … Continue Reading

(US) In re Crane Reversed on Appeal: Illinois Statutory Mortgage Form Held to be Permissive, Not Mandatory; Incorporation by Reference Held to Be Sufficient

This post was written by Daniel Slattery and Ann Pille. The United States District Court for the Central District of Illinois has arguably driven the last nail into the coffin of In re Crane, the much criticized decision of the United States Bankruptcy Court for the Central District of Illinois. The coffin was already set … Continue Reading

(US) Illinois Legislation Rejects In re Crane

This post was also written by Cynthia Jared. Custom and practice in Illinois with respect to mortgages has been to incorporate the note or other debt instrument by reference, rather than to disclose all of the financial terms of a loan transaction in the mortgage. Then, in April 2012 (as previously reported in the Reed … Continue Reading

Renewal Lease Changing Terms

This post was written by Katherine Campbell and Siobhan Hayes. Most landlords are reasonably familiar with the rules set out in O’May v City of London Real Property Co Limited. As a result of that case, a landlord cannot introduce changes to lease terms on a renewal where the effect of the change is to … Continue Reading

Illinois Legislation Trumps In re Crane Bankruptcy Court Decision

Since the In re Crane decision was handed down by the Bankruptcy Court for the Central District of Illinois in April 2012, all eyes in the mortgage banking industry have been focused on the appeal of the decision pending in the U.S. District Court, in the hopes that the widely criticized ruling of the Bankruptcy … Continue Reading

Can Public Agencies and Private Developers Work Together to Help Fix Pennsylvania’s Transportation Infrastructure? The Promise of P3 Legislation

Pennsylvania’s transportation infrastructure needs far surpass the Commonwealth’s ability to fund them. According to a 2010 study by the State Transportation Advisory Committee, an additional $3.5 billion a year is needed to fully meet those needs. To close the funding gap and facilitate the development of new transportation facilities throughout the Commonwealth, Pennsylvania, on July … Continue Reading
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