ARCHIVED VIDEO STREAM

This is the archived version of a program presented on May 9, 2012.  This will not become available until 2 weeks after the orginal program date.  To order this format please click on the "REGISTER NOW" button.   

Thousands of commercial properties change hands every year. Each property comes with its own set of issues and challenges. Your client's purchase of a multi-tenant commercial property is a unique type of transaction that requires you, as the purchaser's lawyer, to wear many hats. In this half-day program, leading practitioners and experts will walk you through the various stages of the purchase of a multi-tenant commercial property. Whether you are working on your first deal or your twentieth, the information in this program will benefit both you and your clients and help ensure that your next multi-tenant commercial purchase is a smooth one.

Program Chairs: Aaron M. English, Torkin Manes LLP
Zoe Kalmanson, Torkin Manes LLP

AGENDA
Introductory Remarks

Agreement of Purchase and Sale

• Purchaser's conditions - the must-haves and the maybes
• Vendor's conditions
• 'As Is', 'Where Is' - what the vendor wants vs. what the purchaser needs
  Nili Birshtein, Stikeman Elliott LLP

Due Diligence

1. Title and Off Title Searching

• Title searching
• Off-title searching - the hows and whys
• What searches does your title insurer require?
• What searches does your lender require?
  Jeffrey W. Lem, Miller Thomson LLP - Markham

2. Zoning Compliance

• What you can do and when it's time to get help
  Aaron I. Platt, Davies Howe Partners LLP

3. Leasing Due Diligence

• Existing tenants
• Tenant estoppels
• What to include in a lease summary
• Red flags
  Savvas Kotsopoulos, Miller Thomson LLP

Financing

• The loan commitment and the lawyer's role in negotiating it
• Satisfaction of conditions - who is responsible for what
• Advance and disbursement of funds - setting client expectations
• The charge, assignment of rents, specific assignment of leases and other security documents
• The enforceability opinion - assume and qualify
  John Hutmacher, Blake, Cassels & Graydon LLP

Title Insurance vs. Title Opinion

• The lender policy
• Pros and cons - what the client gets and doesn't get from each
• Specific endorsements in an owner policy
  Steven I. Pearlstein, Minden Gross LLP
  Wayne Lipton, Stewart Title Guaranty Company

Closing and Post-Closing Matters

• The closing documents
• Adjustments
• Undertakings and other ways to solve last-minute issues
• Reporting - the importance of a timely report
• Following up on outstanding matters
  Sherri Lavine, Chaitons LLP