December 7, 2020
This is the third in a series of posts on managing transaction legal cost. The Deal Intelligence of the principals to the transaction is a vital counterbalance when the lawyers are likely to engage in protracted negotiations. I have worked on deals and negotiations of all sizes and of varying degrees of complexity, and I learned a few important lessons along the way that I would like to share with you...
November 9, 2020
This is the second in a series of posts on managing transaction legal cost. In the previous post, I listed what I see as the two primary components driving legal cost: “Deal Complexity” and “Negotiation Intensity.” This installment introduces the concept of “Negotiation Intensity” which has a greater impact on the total legal bill than even the complexity of the deal itself. I have worked on deals and negotiations of all sizes and of varying degrees of complexity, and I learned a few important lessons along the way that I would like to share with you...
September 24, 2020
Of all the things they don’t teach lawyers in law school, the number one lesson I never received was how to manage legal cost. I have been an acquisitions manager, asset manager, broker, developer and real estate attorney in my 30+ years in commercial real estate and in all of those roles I struggled with containing legal fees. I have worked on deals and negotiations of all sizes and of varying degrees of complexity, and I learned a few important lessons along the way that I would like to share with you...
August 13, 2020
I understand why clients might be impressed when they read an attorney’s biography and see all of the large deals they’ve closed or the large companies they have represented (I was a partner at two national law firms and I certainly emphasized these things in my own firm biographies). After all, if they represented these types of clients or worked on nine-figure financings or they are a partner at a large law firm, they must be smart and capable, correct? I have worked with lawyers from all kinds of backgrounds and with a variety of accolades, and I learned a few important lessons along the way that I would like to share with you...
June 17, 2020
At the onset of the pandemic I wrote a blog about how the coronavirus almost killed a CMBS refinance I was working on at the time, which now seems like a trivial matter in light of the upheaval that has occurred around the globe. Much of our response to the threat of infection is driven by fear (or, for some of us, lack of fear).
March 16, 2020
I guess it was inevitable that the new coronavirus would worm its way into my own ecosystem as a California real estate attorney. They say that “time kills all deals” and until we fully recover from the economic fallout brought on by the coronavirus it becomes critical to get deals closed as quickly as possible.
February 25, 2020
I get a number of referrals from both loan brokers and investment brokers. Most of the time we have an initial call about the deal, which invariably starts or ends with a request for “just a high level” review or perhaps a time sensitivity to getting a loan closed or a purchase agreement signed. Underlying these conversations is the anxiety we all feel about getting the deal done...
December 3, 2019
It goes without saying that any LOI that includes a loan contingency will be at a distinct disadvantage in a competitive environment. However, there is a benefit to including some detail in an LOI that connects the seller to the eventual needs of a mortgage lender.
February 11, 2019
Not Easy Leasing Green Regardless of the pros and cons, landlords and tenants may have no choice but to embrace green building and other sustain-ability practices. […]