Session I – Key elements to consider when negotiating – Iryna Lomaga Carey, and Barry R. Katz
Conditions for delivery of possession and allocation of responsibility for future repairs may have unexpected financial implications for both landlords and tenants. Recognizing potential issues and negotiating a fair compromise for both landlord and tenant can prevent unanticipated expenses and potential lease disputes.
Iryna Lomaga Carey, Partner at Kurzman Eisenberg Corbin & Lever and Barry R. Katz, Partner at Saul Ewing Arnstein & Lehr, will discuss how to recognize delivery of possession and future repair issues, suggest alternative negotiation positions based on the positions of both landlord and tenant and provide solutions and a checklist for addressing these issues.
Key topics to be discussed:
What are the key elements to consider when negotiating delivery of possession: timing, condition of the premises, coordinating inspections, supply chain/labor issues and punch lists?
Negotiating penalties for delayed delivery
Allocation of obligations related to routine maintenance, major repairs and replacements
Session II - Property and Liability Insurance – Tal Diamant
Will be discussing the typical lease provisions regarding insurance coverages required to be maintained Landlord and Tenant, including customary amounts, common nomenclature, additional insured concepts, and documentation to be exchanged between the parties. In addition, I will go over the latest trend to require cyber liability insurance by both parties and details related thereto.
Including customary amounts, common nomenclature, additional insured concepts, and documentation to be exchanged between the parties
Latest trend to require cyber liability insurance by both parties
Session III – Best Practices for Landlord and Tenants – Tal Diamant
We have learned a lot of lessons regarding key lease provisions for landlords and tenants in the last few years, especially with the COVID years. Some of those lessons include drafting strong force majeure provisions, negotiating fair co-tenancy, prohibited use and operating covenant and assignment terms in light of rapidly changing economic and environmental circumstances, and more.
Ms. Carey is a partner in the real estate department of Kurzman Eisenberg Corbin & Lever, LLP. Her practice focuses on commercial real estate transactions including: Commercial Sales & Acquisitions; Joint Ventures; Commercial Leasing and Commercial Finance. She has broad based experience in retail/industrial/office property leasing and acquisitions; operating company acquisitions and dispositions; negotiation of construction contracts; and financing and construction of a broad range of commercial properties.
Ms. Carey has represented landlords and tenants in enclosed malls, strip centers, warehouse/industrial projects and pad sites. She has extensive experience handling due diligence in connection with significant real estate acquisitions of both real property and debt portfolios.
Ms. Carey is active in her local community, serving as a trustee on various service organizations and educational institutions.
Prior to joining the Firm, Ms. Carey was a partner at Cole, Schotz, Meisel, Forman & Leonard, PA.
Barry R. Katz | Saul Ewing Arnstein & Lehr, LLP
Barry R. Katz represents entrepreneurs, individuals, limited liability companies and corporations with the sale, acquisition, leasing and financing of properties both in Chicago and across the country. With nearly 40 years of experience closing complex real estate deals, Barry is able to identify issues and help clients with commercial, retail, industrial and multi-family projects.
Because of the diversity of these transactions, Barry has an appreciation of his clients’ priorities for their individual projects. He approaches each deal with strategies to efficiently and effectively close the transaction for the benefit of his clients.
Tal Diamant | Brownstein Hyatt Farber Schreck, LLP
Experience negotiating over 4 million square feet of commercial leases with major national retail anchors. Over $1 billion in real estate transactions completed. Problem solver for complex retail, office, industrial and multifamily projects.
Tal Diamant’s real estate practice focuses on leasing, acquisition/disposition, development, real estate partnership formation and financing work for a wide variety of assets. From completing acquisitions and dispositions of some of the largest properties in the Denver area and other metropolitan cities in the U.S. to facilitating the development of large shopping centers and office parks and the leasing that goes along with it, he gets deals done. With an unsurpassed understanding of the market and his client’s business strategy, Tal gets involved in the earliest stages of deal structuring.
He possesses the know-how necessary to assemble the best team for each client’s project. Tal is more than legal counsel, he is a trusted advisor offering valuable insight on business decisions, legal matters and strategic issues. Given his high deal volume and deep experience—he’s been doing this for more than 25 years—there are few issues that arise that he hasn’t successfully navigated before.
Clients value his entrepreneurial mindset and ability to challenge the status quo by providing creative solutions to everyday issues. This unique combination allows Tal to help his clients achieve their business goals despite any roadblocks that arise along the way. A leader in his industry, Tal frequently leads seminars and panels in connection with the International Council of Shopping Centers, Bisnow and NAIOP.
Session I – Key elements to consider when negotiating | 11:20am – 1:00pm
What are the key elements to consider when negotiating delivery of possession: timing, condition of the premises, coordinating inspections, supply chain/labor issues and punch lists? | 11:20am – 12:20pm
Break | 12:20pm- 12:30pm
Negotiating penalties for delayed delivery | 12:30pm – 12:45pm
Allocation of obligations related to routine maintenance, major repairs, and replacements | 12:45pm – 1:00pm
Session II – Property and Liability Insurance | 1:00pm – 2:40pm