In commercial real estate transactions, time is money, execution is everything and projects generally do not move forward without a mortgage loan. Lenders and their counsel should view a project as if the lender is the eventual buyer, owner and seller. For developers, considering the transaction from a lender’s point of view can save them considerable time and money and expedite loan closing ...
October 26, 2023 By: Jarrett Osborne-Revis In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as bankruptcy proceedings and receiverships – particularly for distressed commercial real estate entities – trend upward in California ...
The Product Security and Telecommunications Infrastructure Act 2022 (PSTIA) received Royal Assent on December 6, 2022. The PSTIA makes various changes to the Electronic Communications Code (the Code) – however, its intended effects are only being felt piecemeal, as its provisions are being slowly brought into force through secondary legislation. Ss ...
The flight to quality in the UK’s commercial real estate market has been covered extensively over recent months. Nowhere is this shift being felt more acutely than in the office sector. According to Cushman & Wakefield, take-up of Grade A office space in Central London reached 2.44m sq ft during the first half of 2023 - increasing by 7 per cent on the five-year H1 average. There are many factors driving this shift ...
In recent times, the financial market has been abuss with discussions about the potential benefits of real estate tokenisation. Several initiatives worldwide, such as Propchain in Dubai, Vave and Equisafe in France, Propellr, Inveniam Capital Partners, and Fluidity in the United States, as well as Elevated Returns in the United States and Thailand, have taken the bold step of launching tokenised real estate projects ...
For those considering such a move, there are various options open to them to make their relocation a reality: Residency Certificate for Persons of Independent Means Certificate of Permanent Residence for Persons of Independent Means Certificate of Direct Investment Residency Certificate (Substantial Business Presence) Residency Certificate for Persons of Independent Means A person can apply for a Residency Certificate for Persons of Independent Means ...
The Government of Jersey has published an update on the implementation of mandatory Energy Performance Certificates for Jersey in relation to commercial and residential property. The update confirms that the planned new legislation will establish a framework for Jersey Energy Performance Assessments (JEPA), which will be the Jersey equivalent to Energy Performance Certificates (EPCs). This name change is to ensure that it is clear the Jersey assessments differ from those in the UK ...
One of the most common questions I receive from clients is around the termination of leases, with confusion reigning around the terminology and procedures used in Scotland. It is not surprising that when given a remit to consider the law of commercial leases, the Scottish Law Commission (SLC) first turned its attention to the law relating to the termination of leases at expiry. In October 2022, following consultations, the SLC published its Report on Aspects of Leases: Termination ...
In a recent update to the suite of Homes England standard shared ownership leases, England’s Regulator of Social Housing sought to align rent reviews with social and affordable rent tenures. In the process, it may have created more work for sector participants ...
Introduction In 2023, where do we stand in terms of liability where smart products are concerned? The rules governing product liability set out in the Civil Code of Québec were introduced early in the 20th century in response to the industrial revolution and the growing number of workplace accidents attributable to tool failures ...
Space economy, Gianni & Origoni launches the “Space Law” practice Dealflower October 3, 2023 The international law firm Gianni & Origoni announces the launch of its Space Law practice , with the aim of providing Italian and international clients with integrated legal assistance that responds to the growing needs of the Space Economy ...
Building any career or business can be difficult, but even more so in construction. A company or individual can ruin its reputation that it took years to develop by taking a political stance or posting the wrong thing online. It can be difficult to recover from blowing a bid, miscalculating an estimate, or being locked into a fixed-price contract and the cost of materials escalate more than your profit. One might have to close up shop or be demoted or terminated ...
Overview Jersey property law is derived from a mixture of local statute and customary (common) law. Jersey's customary law has evolved from Norman-French law and is primarily contained in the judgments of the Royal Court of Jersey and the writings of local and French jurists. In Jersey law property is either "movable" or "immovable". These classifications are broadly similar to the English classifications as "personal" or "real" property ...
On complex construction projects, there may be multiple contractors, subcontractors, vendors, suppliers, and sub-subcontractors working along side one another. With various entities working parallel there are substantial risks that one contractor’s work will interfere with that of another contractor on the project. When the two parties have direct contracts with one another (e.g ...
A JV is commonly defined as a combination of two or more parties (people or entities) that is formed to acquire or develop and own, lease, manage and sell one or more real estate assets. The JV typically has two categories of partners: the “operating partner” and one or more “capital partners.” JVs are frequently used by experienced real estate developers to obtain the capital they need for their projects ...
According to Supreme Decree 12 dated June 8, 2020, issued by the Ministry of Environment ("DS 12/2020"), on September 16, 2023, collection and recovery goals and ancillary obligations for producers of containers and packaging (the "Producers") within the context of Law 20,920 ("EPR Law") will become enforceable. DS 12/2020 establishes, among others, the following obligations for the Producers: Register in the Pollutant Release and Transfer Register, and provide the information requested ...
Dubai’s real estate market has experienced significant growth in prices in the past few years. The average sales prices for residential properties in Dubai increased by 12% between 2021 and 2022 to reach AED 1,203 per sq ft. This is expected to increase even more by the end of 2023. In this market, off-plan properties appear to be a more affordable option to many purchasers as compared to completed properties ...
With the announcement of the Law Commission’s planned consultation on Part II of the Landlord and Tenant Act 1954, can changes be made to clarify and condense the statutory framework for renewals? One area ripe for reform is how the level of rent is determined, and in particular, the treatment of rent-free periods where no binding authority appears to exist - leaving a variety of often conflicting County Court decisions ...
Let’s be honest, it feels gloomy at the moment. The ramifications of 14 consecutive rate rises are now materialising – creating additional hurdles for those seeking funding and bringing developments forward. Rising borrowing costs will always put pressure on the living sector. However, the UK’s real estate industry is remarkably resilient ...
Artificial intelligence (AI) is revolutionising the global real estate landscape. In the United States alone, AI companies are predicted to have a 1.6m sq m real estate footprint by the end of 2023, according to JLL ...
The summer is a welcome break for higher education students across Scotland. But, as coursework and exams are temporarily put to the back of minds, a potential reform is looming that could have major implications on the student living experience in Scotland. This relates to the outcome of a much-anticipated review into its purpose-built student accommodation sector (PBSA) – first initiated in 2021 by the Scottish Government ...
The UK is facing a veritable housing crunch. The gap between residential supply and demand continues to widen, and the current high interest rate environment is only serving to compound the issue – posing real challenges when it comes to funding and bringing much needed new schemes forward. One part of the residential market that is really feeling the strain of these supply constraints is the senior living sector ...
Since receiving Royal Assent on 28 April 2022, the Building Safety Act 2022 (BSA) has continued to lumber along - coming into effect in phases and throwing up legal complications as it goes. The government has therefore been required to create secondary legislation – regulations - to seek to clarify and untangle various provisions in the BSA. The Act is reliant on regulations to provide the detail of many of its provisions ...
Activity levels in the residential development market remain lower than developers, lenders and other real estate professionals have become accustomed to over the last 15 years. With 14 base rate rises implemented by the Bank of England (BoE) in the last 18 months - now at 5.25% - the UK is currently subject to the highest base interest rate since 2008 ...
