Strategies for Ensuring a Smooth Closing in Commercial Real Estate Transactions
Learn specific strategies and best practices to ensure a smooth closing in commercial real estate transactions. Topics include identifying closing items, minimizing surprises, organizing tasks, and communicating effectively. Contact Neil Shapiro at Stikeman Elliott LLP for more information.
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Presentation Transcript
Strategies for Ensuring a Smooth Closing LSUC Commercial Real Estate Transactions 2016 September 13, 2016 STIKEMAN ELLIOTT LLP
How to Ensure a Smooth Closing Main themes o Identify closing items and issues o Minimize last minute surprises o Planning o Who is doing what and when o Organization o Use your closing agenda 1 STIKEMAN ELLIOTT LLP
How to Ensure a Smooth Closing Specific Strategies o Know your Agreement/Deal o Closing Agenda o Third Party Deliverables o Closing Documentation o Communication o Post-closing Items 2 STIKEMAN ELLIOTT LLP
How to Ensure a Smooth Closing Best Practices Know your Agreement/Deal o Re-review the major transaction documents o Identify what needs to get done Closing Agenda o Get Organized o Comprehensive and Detailed o Circulate your Closing Agenda 3 STIKEMAN ELLIOTT LLP
How to Ensure a Smooth Closing Best Practices Third Part Deliverables o Identify ASAP o Examples Tenant Estoppels, no-interest letters, Discharges, Lender Requirements, Governmental approvals o Plan and follow up Closing Documentation o Don t renegotiate unless necessary o Don t wait 4 STIKEMAN ELLIOTT LLP
How to Ensure a Smooth Closing Best Practices Clear and Constant Communication o Client: SOA, Funds, Signatories and other client Closing Items o Opposing Counsel: Responsibility and Closing Day Items Post-Closing Items o Examples: LTT filings, Discharges, Post-Closing Works, Readjustments o Post-Closing Critical Dates and Follow Up 5 STIKEMAN ELLIOTT LLP
Strategies for Ensuring a Smooth Closing LSUC Commercial Real Estate Transactions 2016 Neil Shapiro Stikeman Elliott LLP 6 STIKEMAN ELLIOTT LLP
Contact us Name nshapiro@stikeman.com 7 STIKEMAN ELLIOTT LLP
