Don't Overlook the Role of the Mortgagee When Negotiating Commercial Leases
Harold S. Dembo, a Principal in the firm's Real Estate Law group, authored an article for National Real Estate Investor titled "Don't Overlook the Role of the Mortgagee When Negotiating Commercial Leases."
Office leasing in 2011 is on the rise, but it remains a tenant's market. Landlords are granting reduced rent and large concession packages to keep existing tenants and attract new ones.
However, it is important to realize that there is a third party to consider in most commercial leases: the landlord's mortgage holder. In a year when thousands of properties are falling into distress and potential foreclosure, understanding the mortgagee's role is critical to both landlord and tenant.