deed
Written document which transfers actual ownership to another person.
title
the legal way of saying you own something
lease
A contract between an owner and a user of property.
the owner (lessor) receives financial compensation and in exchange, the tenant (lessee) is given the right to operate his or her business on the property.
Eminent Domain
the right of a government or its agent to expropriate private property for public use, with payment of compensation.
Environmental Issues
Can range from groundwater and soil contamination to materials used in buildings-Past uses and expected uses come into play
writing
contracts must be in ________
deed
ownership transferred through _________
#NAME?
Who can an in-house counsel be employed by?
-track activities in the market continually
-know what spaces are coming up for lease, who is looking for space, what space would fit
-work with tenant to analyze negotiate best deal
**Middle man
What are some broker duties?
any way possible
how do brokers find clients
rent per square foot x how many years x negotiated percentage
how are brokers paid
only if/when deal closes
when do brokers get paid
optimizing asset return
branding, repositioning asset, re-leasing space to new tenants
*does NOT include acquisition, financing, underwriting of new asset
what are asset managers responsible for
high reward
unlimited earnings
In development there is high risk, yet
length
term of loan
negotiated conditions
terms of loan
opportunisitc
value-add
core-plus
core
What are the 4 investment categories
concept commitment closing
What is the sequential process of acquisitions?
Asset Allocation
Investment policies
Investment Strategy
staffs job is to implement
Institutional investors have governing boards with authority over
Portfolio diversification
Income
Inflation hedge
why add real estate to a portfolio?
equity - common
equity - preferred
mezzanine debt - higher risk/ret.
b note - second mortgage
base - first mortgage
what is the capital stack?