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ASTM E1527 Changes: Coming Soon to a Property Assessment Near You

March 24, 2021 Banking & Financial Services Industry Legal Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Lenders, Developers, Environmental Professionals and others over the years have come to know the industry standard for conducting and reporting environmental due diligence, “ASTM E1527 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment Process”.  E1527 (commonly referred to as a “Phase I”) was designed by ASTM International […]

Five Key Commercial Lease Provisions for Commercial Tenants

March 11, 2021 Real Estate Development, Sales and Leasing Industry Legal Blog

A business owner may enter into a commercial lease for purposes of renting space to operate its business activities. Unlike residential leases, a commercial lease should not be a one-size-fits-all lease. Under Florida law, non-residential tenancies (commercial tenancies) are governed by Sections 83.001-82.251 of the Florida Statutes. Business owners, or […]

FDEP’s Assumption of the Federal Clean Water Act Section 404 Program: What It Means for Florida’s Regulated Community

March 9, 2021 Community Association Industry Legal Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

On December 22, 2020, the United States Environmental Protection Agency (EPA) delegated to the Florida Department of Environmental Protection (FDEP) the authority to issue Section 404 federal Clean Water Act (CWA) permits for dredge and fill activities in certain waters within Florida.  The state’s assumption of responsibility over Section 404, […]

Pandemic-Related Rising Materials Costs: How Contractors Can Avoid Losses and Protect Themselves

March 2, 2021 Construction Industry Legal Blog, Energy & Utilities Industry Legal Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

The coronavirus or COVID-19 pandemic (or perhaps the resulting monetary policy) has caused materials costs to skyrocket. In the past year, as of early February 2021, steel prices are up about 27%; copper prices are up about 37%; rubber prices are up about 62%; lumber prices are up about 113%; […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 6 – Considerations for the Appointment of a Receiver During Commercial Foreclosures

December 29, 2020 Banking & Financial Services Industry Legal Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action.  Additionally, as briefly discussed in part 5 of this series, during the foreclosure action, lenders have options to try to preserve the value of the underlying collateral and to minimize further […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 5 – Commercial Foreclosures 101

October 22, 2020 Banking & Financial Services Industry Legal Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages.  Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults.  This article provides a high-level overview […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

September 22, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Assignment of Rents under Section 697.07, Florida Statutes Pursuant to Section 697.07, Florida Statutes, a mortgage or […]

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

July 30, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include an acceleration clause, which allows the lender to accelerate all […]

Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?

July 15, 2020 Florida Business Litigation Blog, Real Estate Development, Sales and Leasing Industry Legal Blog

Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement.  See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA 1978).  However, there is an exception where the commercial landlord […]

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