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In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this...more
Acceleration of rental provisions in commercial leases allow the landlord, upon the tenant’s default, to accelerate the balance of the rent due for the balance of the lease term making it due and payable immediately, much...more
The changing landscape of local COVID-19 legislation imposes additional requirements and restrictions on landlords of certain residential and commercial properties in the DC region....more
Earlier this month, the Massachusetts legislature passed Chapter 65 of the Acts of 2020 (the “Act”), which imposes a moratorium on certain evictions and foreclosures during the COVID-19 state of emergency. On April 28, the...more
As the Covid-19 global emergency continues, so does its economic impact. The Massachusetts legislature and Governor Baker have enacted numerous initiatives aimed at, among other things, Massachusetts’ economic stability and...more
Commercial landlords and lenders and servicers for commercial real estate loans should be aware of recent legislation out of the District of Columbia that imposes obligations on servicers to develop and implement deferral...more
As set forth in our prior update, commercial tenants in New York may not be able to establish a breach of the covenant of quiet enjoyment because of the ongoing pandemic, subject to specific lease language....more
The COVID-19 epidemic presents significant challenges to the commercial real estate market in the United States. As governors impose shutdown orders and Americans are told to shelter-in-place, commercial offices and retail...more