Related insights: Real Estate Acquisition, Due Diligence and Financing
Reduce High Occupancy Costs
Jan 11 2021
In the changed landscape, lowering occupancy costs by reducing property taxes is one of the most important steps businesses can take to remain competitive.
Womble Bond Dickinson Attorney Morris Ellison Earns Coveted CRE (Counselor of Real Estate) Certification
Dec 09 2020
CHARLESTON, SC—Womble Bond Dickinson commercial real estate attorney Morris Ellison has earned the CRE (Counselor of Real Estate) credential. The credential, awarded by The Counselors of Real Estate, recognizes accomplished thought leaders in the real estate industry. Ellison is in particularly rare company as an attorney earning the CRE credential.
Major South Carolina Appellate Decision on Property Tax Exemption
Aug 26 2020
Real estate investors acquiring properties in South Carolina have been granted some latitude when they fail to request an available property tax exemption. In a major decision issued on August 26, 2020, the South Carolina Court of Appeals held that a property owner need not claim the 25% property tax exemption when there is an “Assessable Transfer of Interest” (ATI) available to certain commercial properties during the first year of eligibility for the exemption.
10 Key Considerations for Commercial Real Estate Loan Restructurings: A Primer
Jul 20 2020
Since commercial real estate is a “leverage” business, one common challenge that many owners will possibly face is the need to restructure the loans secured by their properties in order to achieve more realistic and achievable economic terms and to avoid loan defaults, foreclosures and the loss of their properties. As a Primer for those lucky few real estate owners and advisors that have not worked through previous real estate cycles (and as a refresher for those who have), here are ten key considerations to guide you generally in pursuing loan restructuring transactions with your lenders.
Morris Ellison in Commercial Property Executive: Expect Increased Property Taxes
Jul 07 2020
Macro impacts of the microscopic COVID-19 virus will subject the property tax system to unprecedented strains, raising the threat that local governments will turn to property tax increases as a panacea for their fiscal woes. Womble Bond Dickinson attorney Morris Ellison explains more in Commercial Property Executive.
Cynthia Spieth Morton to Discuss Commercial Real Estate Issues in COVID-19 Environment at CREW Charleston Webinar
May 19 2020
As with virtually every industry, the COVID-19 crisis has had a tremendous impact on the commercial real estate sector. Womble Bond Dickinson attorney Cynthia Spieth Morton will take part in a CREW (Commercial Real Estate Women) Charleston roundtable on these challenges and what the commercial real estate industry can expect to see in the months to come.
Foreclosure and Eviction Moratoriums Under the CARES Act
Apr 20 2020
The recent business shutdowns and other measures used by federal, state, and local governments throughout the country to slow the spread of the COVID-19 pandemic have limited the ability of many property owners and tenants to earn income. As a result, many borrowers are unable to make scheduled mortgage payments and tenants are unable to pay rent. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, includes moratorium provisions that protect the right of these borrowers and tenants to remain in their dwelling without facing the threat of immediate foreclosure and eviction.
Forging Ahead Instead of Forcing a Pause
Apr 13 2020
With the recent wave of governmental “stay-at-home” and similar orders to dampen the likely effects of the novel coronavirus known as COVID-19, many businesses have been forced to press “pause” on certain ongoing transactions. Real estate transactions are among those being delayed. However, as the period of social distancing gets extended by weeks at a time, legislatures across the nation are beginning to implement various measures to ensure that both residential and commercial real estate transactions that parties wish to forge ahead with can in fact proceed. These measures include remote notarization, e-recording of documents in local registries, and relaxing requirements that require parties to close transactions in person. We look at a variety of these measures and still-emerging trends in this alert.
Womble Bond Dickinson Attorney Nellie Sullivan Quoted in The Triangle Business Journal Discussing Landlords and Leases in the Coronavirus Pandemic
Apr 10 2020
RALEIGH, N.C.—Womble Bond Dickinson attorney Nellie Sullivan was recently quoted in an article in the Triangle Business Journal entitled “Triangle Attorneys Detail What Landlords, Tenants Need to Know About Leases” as the effects of the coronavirus pandemic continue. Sullivan suggested that landlords should be thinking now about the types of arrangements that might be appropriate, given their circumstances. If concessions are offered, she noted that various possibilities exist, including increasing the length of the lease for as many months as rent is abated (commercial landlords) or amortizing portions of unpaid rent in the near term over future rental payments (multifamily landlords).
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