Docstoc

Commercial Real Estate Leases - Download Now PDF

Document Sample
Commercial Real Estate Leases - Download Now PDF Powered By Docstoc
					April 13 & 14, 2011, Calgary                                                                                                            Two-Day Event!




 1
1 Commercial
          th                                                                                                                    “I learned a lot about
                                                                                                                                carefully reading &
                                                                                                                                constructing leases and
                                                                                                                                will return to work to audit
                                                                                                                                existing leases.”
                                                                                                                                                - Suzanne McLeod,
                                                                                                                                                 Property Manager,
                                                                                                                                               Lee Valley Tools Ltd.




Real Estate Leases
                                                                                                                                “Good refresher -
                                                                                                                                affirmation of our own
                                                                                                                                processes and lease
                                                                                                                                production.”
                                                                                                                                             - Jerry Pekaruk, CFO,
                                                                                                                                 Westbury International Corporation

                                                                                                                                “Good primer/updater. Good
                                                                                                                                precedents in materials.”
Expert advice on negotiating and securing the best deal




                Workshop Included: Dealing with Problem Leases:
                Finding Solutions That Benefit Landlords and Tenants
                 who should attend
                 Attorneys, Lenders, Owners, Managers, Brokers, Leasing Agents,
                 Real Estate Developers and all others involved in landlord/
                 tenant relationships, and who deal with lease negotiation,
                 drafting, defaults and litigation

                 participating organizations
                 Alberta Infrastructure                                              Inducor Real Estate Solutions
                 Blake Cassels & Graydon LLP                                         Macleod Dixon LLP
                 Burnet, Duckworth & Palmer LLP                                      McCarthy Tetrault LLP
                 Colliers International                                              Parlee McLaws LLP
                 Davis LLP                                                           West Edmonton Mall Property Inc.

                 course highlights
                 • Discovering the current trends in negotiations                    • Using incentives and inducements
                 • Determining landlords’ and tenants’ legal status                  • Identifying important rent provision issues
                 • Dealing with operating cost issues                                • Uncovering environmental issues




                                                                                                                                             as well as:

                                                                                                                                             Jon C. Mook,
                                                                                                                                             Colliers International

                                                                                                                                             Jeffrey Selby,
Course Leader   Esther Ohayon,   Ian E. MacRae,   Chris Saunders,    John Lemieux,    John A. Peters,   Scott D. Smythe,   Gayle Hunter,     Parlee McLaws LLP
Gregory A.      Alberta Infra-   Macleod Dixon    Inducor Real       Davis LLP        QC, Burnet,       McCarthy           Blake Cassels
Liakopoulos,    structure        LLP              Estate Solutions                    Duckworth &       Tétrault LLP       & Graydon LLP     Dean Shaben,
McCarthy                                                                              Palmer LLP                                             West Edmonton
Tetrault LLP                                                                                                                                 Mall Property Inc.
FACULTY


COURSE LEADER


GREGORY A. LIAKOPOULOS                               IAN E. MACRAE                                         JON C. MOOK
Greg Liakopoulos is a partner in McCarthy            Ian E. MacRae is a Partner in the Calgary of-         Jon C. Mook is Vice President/Partner,
Tétrault LLP’s Real Property and Planning            fice of Macleod Dixon LLP. He practises in            Industrial Division in Colliers International’s
Group in Calgary. His practice focuses primar-       the areas of commercial financing, banking,           Calgary office.
ily on commercial real estate, including com-        real estate law and related areas of pension
mercial lending, conveyancing, acquisitions,         and securities law.                                   JEFFREY SELBY
sales, hospitality, renewable energy generation                                                            Jeffrey H. Selby is a Partner in the Calgary
projects and commercial leasing.                     CHRIS SAUNDERS                                        office of Parlee McLaws LLP, where he prac-
                                                     Chris Saunders is Managing Partner and                tices primarily in real estate and real estate
                                                     founder of Inducor Real Estate Solutions, an          development law.
CO-LECTURERS                                         industrial real estate services firm.
                                                                                                           DEAN SHABEN
                                                     JOHN A. PETERS, QC                                    Dean Shaben is VP of the Leasing Division of
ESTHER OHAYON                                        John A. Peters, QC is a Partner with Burnet,          the West Edmonton Mall Property Inc.
Esther Ohayon of Alberta Infrastructure has          Duckworth & Palmer LLP.
30 years experience negotiating and docu-
menting commercial leases and advocating on                                                                GAYLE HUNTER
                                                     SCOTT D. SMYTHE                                       Gayle Hunter practices business law at Blake,
behalf of the tenant.                                A Partner at McCarthy Tétrault LLP, Scott             Cassels & Graydon LLP, with a focus on
                                                     Smythe’s practice involves extensive work             commercial real estate transactions.
JOHN LEMIEUX                                         with a number of major real estate developers,
John Lemieux practices in the Corporate/             landlords and tenants.
Commercial department of Davis LLP’s Ed-
monton office.




COURSE PROGRAM

UNDERSTANDING THE LEGAL STATUS OF                                               COMMERCIAL LEASING ISSUES IN THE CURRENT MARKET
LANDLORD AND TENANT
                                                                                The commercial leasing environment, recently at a standstill, has
When entering into a lease, parties should be looking to anticipate and         started to move, but still remains tight and is characterized by caution.
prevent legal problems and litigation from the outset. This session will        In the face of this unpredictability, what is the outlook for 2011 and
explore the basic legal rights and obligations of landlords and tenants,        beyond? Will the leasing market continue to tighten, or will conditions
best practices for assessing the legal status of the landlord and/or ten-       ease for tenants? This presentation will explore commercial leasing in
ant and leasing strategies and requirements in response thereto.                this tightening environment.

· Basic overview of legal rights and obligations of                             ·   Landlord and tenant concerns
  landlords and tenants                                                         ·   Secondary market issues
· Confirming legal status                                                       ·   Impact of market tightening on costs
· Legal implications of form of legal and beneficial ownership                  ·   Rent projections both near- and long-term
  used by landlord: sole proprietor, partnership, limited partnership,          ·   Assessing the costs associated with the demand for "green"
  unlimited liability corporation, real estate investment trust,
  joint venture
· Legal implications of form of ownership used by tenant



 SUPPLEMENTARY COURSE MATERIAL

 Federated Press is now providing delegates with access to an innovative new database containing at least 25 interactive multimedia presentations by
 leading experts and approximately 20 hours of lectures on the topics covered by this course, including all slides and speakers’ papers. See the list of
 presentations on page 4.

 Delegates will also receive a trial subscription to the Real Estate Channel, a much broader resource representing hundreds of hours of interactive multi-
 media lectures on leading edge Real Estate topics as delivered at our many recent Real Estate conferences and courses.
DEALING WITH OPERATING COST ISSUES                                             · The inclusion of a cross-default clause in commercial leases
                                                                               · Inclusion of a notice provision with your standard commercial lease
In the current economic climate, operating costs continue to be a hotly        · Default remedies available to landlords and how they
negotiated issue. How do you define what is a “reasonable expense”               are utilizing them
and who should be responsible for absorbing these costs? This ses-             · Forfeiture and distress
sion will look at best practices with respect to operating costs, in the
context not only of standard retail developments, but also multi-use           ENVIRONMENTAL CONCERNS IN LEASING
developments and with respect to anchor tenant negotiations.
                                                                               How are environmental issues negotiated into commercial lease agree-
· The treatment of repair and replacement costs,                               ments and what types of concerns should a landlord or tenant be
  capital and structural costs                                                 aware of? It is necessary to understand the nature of the environmental
· Calculating operating costs: what’s in and what’s out                        problems resulting from past, present and future activities that could be
· Apportioning risks                                                           encountered when structuring your lease agreement or else risk facing
· Operating cost issues in connection with multi-use developments              huge environmental liabilities and exorbitant clean up costs. This pre-
                                                                               sentation will cover the environmental issues associated with leasing.
REPAIR AND SURRENDER OBLIGATIONS
                                                                               ·   Liability and responsibility for contaminated projects
Making certain that the commercial lease agreement clearly indicates           ·   How to determine whether a property is contaminated
what the landlord and tenant’s obligations are for repairs, maintenance        ·   The use of environmental insurance
and restoration of the leased property is important to avoid potential         ·   Reliance on existing environmental assessments
costly disputes later on. This presentation will explore the newest is-        ·   Green buildings: assessing the cost/benefit of green leases
sues surrounding repair and surrender obligations when negotiating
commercial lease deals.                                                        LEASE AUDITS
· A tenant’s repair, redecoration and make good obligations                    Audit clauses in a commercial lease are typically included at the
· A landlord’s obligations to repair and maintain                              request of the tenant, particularly in situations where the tenant has
· Damage and destruction clauses: determining the parties’                     negotiated an exclusion of certain costs from the operating costs. This
  respective repair obligations                                                presentation will explore what landlords and tenants need to know
· Distinguishing between major and minor damage                                about lease audits clauses in commercial leases and operating costs
                                                                               and charge-backs generally.
INCENTIVES AND INDUCEMENTS FOR
LANDLORDS AND TENANTS                                                          ·   Recent case law relating to lease audits
                                                                               ·   Negotiating operating costs and charge-backs
The variety of inducements and incentives that are provided by land-           ·   Negotiating audit rights
lords and tenants is limited only by the creativity of the parties involved.   ·   Dealing with a lease audit undertaken by a tenant
This session will look at the “top 10” best practices when using incen-        ·   Drafting effective audit clauses
tives and inducements so that you can get the biggest bang for your
buck, avoid unexpected surprises down the road, and most important-            NEGOTIATING & DRAFTING LEASES TO
ly, use them to bridge negotiating gaps in order to close the deal.            GET THE BEST DEAL
·   Leasehold inducements and allowances                                       This session will focus on building more wins into lease negotiations
·   Rent-abatement periods                                                     and documentation, making negotiations and drafting of documents
·   Rights of first refusal and rights of first offer to lease                 less confrontational and more collaborative. You will learn lease draft-
·   Options to extend and renew                                                ing tips, whether acting for a landlord or tenant, that will enable you to
·   Exclusive covenants                                                        enter into better lease agreements, avoid problems down the road and
·   Go dark and co-tenancy provisions                                          maintain good tenants.
ASSIGNMENT AND SUBLEASE NEGOTIATIONS                                           · Offers and letters of intent: when to use them,
                                                                                 inducements, key parts
How do you provide the flexibility that tenants require and still retain       · When to negotiate the lease
control when negotiating the assignment and subletting provision in the        · The lease: building/space issues, remedies,
lease agreement? What has been the impact of the current economy                 options and green provisions
on absorption of commercial space and the rate of subleasing in the
marketplace?. In this session, examine how to deal with negotiations
for assignments and subleases.

· Controlling tenant mix and revenue stream
· When landlord’s consent is not needed: standards
                                                                               WORKSHOP
  for landlord’s consent
· Recapture rights, splitting of profits and termination rights                DEALING WITH PROBLEM LEASES: FINDING SOLUTIONS
· Assumption of leases in bankruptcy
· Potential liabilities, options to terminate and subletting restrictions      THAT BENEFIT LANDLORDS AND TENANTS

                                                                               In the current economic environment, a burgeoning challenge for both
DEFAULT AND REMEDY PROVISIONS                                                  landlords and real estate leasing professionals is how to deal with
                                                                               tenants who are unable to meet terms of their lease. This interactive
How can landlords and tenants ensure that their leases have the                workshop will review the scope of the problem and work through best
remedies they need in case of default? Are you protected if some-              practices and detail solutions for specific problems scenarios.
thing goes wrong? What are some of the most effective measures that
can be applied when a lease agreement is in default due to failure to          ·   Identifying a problem lease and evaluating tenants who are in trouble
pay rent, failure to maintain or repair, abandonment of the premises           ·   Enforcement vs. negotiation: pros and cons
or bankruptcy? This discussion will focus on the default and remedy            ·   Facilitating and resolving disputes between landlord and tenant
provisions of the lease and will provide you with negotiating tips to gain     ·   Recent case law
the protection that you need in your commercial lease deals.                   ·   Finding workable solutions that benefit both sides
MULTIMEDIA PRESENTATIONS

Your registration includes an interactive multimedia database comprising the following presentations from recent Federated Press courses and
conferences. They are presented in their entirety with complete audio or video and accompanying slides. You may also purchase the multimedia
proceedings of the course which will be available on CD-ROM 60 days after the course.

Commercial Leasing Issues in                                      Managing the Legal Aspects of Financing                            Trends in Commercial Real Estate leases
a Tightening Market                                               Norman I. Kahn,                                                    Celia C. Hitch,
Loy Sullivan,                                                     Aird & Berlis LLP                                                  Lang Michener LLP
20 VIC Management Inc.
                                                                  Overview of the Current Leasing Market                             International Real Estate Acquisitions
Assignment and Sublease Negotiations                              Rick Artus,                                                        Stephen D. Holmes,
Robert T. Housman,                                                Oxford Properties Group                                            Holmes & Company
Macleod Dixon LLP
                                                                  Managing Risk and Mastering                                        Understanding and Capitalizing on your
Security Issues for Landlords and                                 Due Diligence                                                      Counterpart’s Situation
Tenants in Commercial Leases                                      Brenda Hebert,                                                     Don Ross,
Gordon A. Love,                                                   Stikeman Elliott LLP                                               MCAP
Farris, Vaughan, Wills & Murphy LLP
                                                                  Allocating Risk Through Insurance                                  Working Towards Win-Win Solutions
Filling to Capacity                                               Nelly Toledo,                                                      Stephen F. Waqué,
Brian MacKenzie,                                                  HKMB HUB                                                           Borden Ladner Gervais LLP
Colliers International
                                                                  Planning for Tax-Effective Sale of                                 Reading Non-Verbal Communication
Leasing Aspects of the Franchise                                  Real Estate                                                        Donna Goodhand,
Relationship                                                      Ralph Burgess,                                                     Fromm & Goodhand
Sheldon L. Disenhouse,                                            Peer Financial Ltd.
Fraser Milner Casgrain LLP                                                                                                           Practical Drafting Techniques for
                                                                  Negotiating with Municipalities                                    Contracts and Agreements
Green Leases for Healthy Buildings                                Stanley M. Makuch,                                                 C. Ian Kyer,
Michael Glassco,                                                  Cassels Brock & Blackwell LLP                                      Fasken Martineau DuMoulin LLP
Theodor Sterling Associates
                                                                  Kiosk and Other Atypical                                           Negotiating Tactics for Real Estate Purchasing
Best Practices for Negotiating Commercial                         Lease Situations                                                   Transactions / Understanding and Capitalizing
Leases & Leasing Issues for Industrial                            Jeffrey H. Selby,                                                  Upon Your Counterpart’s Situation
Real Estate                                                       Parlee McLaws LLP                                                  Chris Huband & John Hutmacher,
David G. Finlay, Q.C.,                                                                                                               Blake, Cassels & Graydon LLP
Bennett Jones LLP                                                 Marketing and Leasing
                                                                  Hunter Milborne,                                                   Advanced Negotiating for Real
Drafting Leases to Get the Best Deal                              Milborne Real Estate Inc.                                          Estate Transactions
James D. Piers,                                                                                                                      George M. Valentini & Don Ross,
Fasken Martineau DuMoulin LLP                                     Brownfields Regulations                                            Osler, Hoskin & Harcourt LLP / MCAP
                                                                  Tamara Farber,
                                                                  Miller Thomson LLP

Registration: To reserve your place, call Federated Press toll-free at 1-800-363-0722.              Cancellation: Please note that non-attendance at the course does not entitle the registrant
In Toronto, call (416) 665-6868 or fax to (416) 665-7733. Then mail your payment along with the     to a refund. In the event that a registrant becomes unable to attend following the deadline for
registration form. Places are limited. Your reservation will be confirmed before the course.        cancellation, a substitute attendee may be delegated. Please notify Federated Press of any
                                                                                                    changes as soon as possible. Federated Press assumes no liability for changes in program con-
Location: The Westin Calgary, 320 4th Avenue S.W., Calgary, Alberta, T2P 2S6
                                                                                                    tent or speakers. A full refund of the attendance fee will be provided upon cancellation in writing
Conditions: Registration covers attendance for one person, the supplementary course ma-             received prior to April 1, 2011. No refunds will be issued after this date. Please note that a 15%
terial as described in this document, lunch on both days, morning coffee on both days and           service charge will be held in case of a cancellation.
refreshments during all breaks. The proceedings of the course will be captured on audio or
                                                                                                    Discounts: Federated Press has special team discounts. Groups of 3 or more from the same
video. Multimedia proceedings with all slides and handouts can be purchased separately on a
                                                                                                    organization receive 15%. For larger groups please call.
CD-ROM which will also include the course material.
                                                                                                                         Payment must be received prior to April 6, 2011
Time: This course is a two-day event. Registration begins at 8:00 a.m. The morning sessions
start promptly at 9:00. The second day ends at 4:00 p.m.                                            Phone: 1-800-363-0722             Calgary: (403) 539-4389               Fax: (403) 539-4390

  TO REGISTER FOR COMMERCIAL REAL ESTATE LEASES                                                                                                 REGISTRATION COSTS
  Name
                                                                                                                                                 NUMBER OF PARTICIPANTS:
  Title                                                                   Department
                                                                                                                                                 COURSE: $1975
  Approving Manager Name
                                                                                                                                                 COURSE + PROCEEDINGS CD-ROM:
  Approving Manager Title                                                                                                                        $1975 + $175 = $ 2150

  Organization                                                                                                                                   PROCEEDINGS CD-ROM: $599
  Address                                                                                                                                        NOTE: Please add 5% GST to all prices.`
  City                                Province                            Postal Code                                                            Proceedings CD-ROM will be available 60 days
                                                                                                                                                 after the course takes place
  Telephone                           Fax                                 e-mail

  Please bill my credit card:                  AMEX                   VISA                      Mastercard                                    Enclose your cheque payable to
                                                                                                                                                 Federated Press in the amount of:
  #                                                                       Expiration date:            /
  Signature :

  Payment enclosed:            Please invoice. PO Number:                                                                                       GST Reg. # R101755163
                                                                                                                                                 PBN#101755163PG0001
  WHEN CALLING, PLEASE MENTION PRIORITY CODE:                    MAIL COMPLETED FORM WITH PAYMENT TO:
                                                                 Federated Press P.O. Box 4005, Station “A”                                      For additional delegates please duplicate this form
  CREC1104/E                                                     Toronto, Ontario M5W 2Z8                                                        and follow the normal registration process

				
DOCUMENT INFO