PROPERTY LAW &

CONTRACTS

Evaluate the law and contract provisions that impact and secure property value with respect to property rights and obligations, public private partnerships, conveyance, ownership structure, leases, liens, mortgages, property finance, rights of way, easements, covenants, and other legal and contract provisions.

Throughout our FINC 676: Commercial Real Estate Law course, my group, which consisted of 5 total members: myself, Moulin Deliwala, Joseph Grabinksi, Justin Patton & Trey Villagran completed a case study and a lease abstract.

For our case study we were told that Professor Ed Elmore and his group of English investors made an offer to buy “Longhorn Apartments”, which was an 85-unit Class “B” multifamily asset in Bryan, Texas. We were paired up with a separate group who acted as the “buyer”, and my team was assigned the role of the “seller” of the asset. Throughout this case study Contract, several points were articulated in our brief that were to be negotiated. Our team identified those points through a digital LOI negotiation, and we went back and forth with the other team until we eventually ironed out a deal. Though we did have to concede on some points to close this deal, our goal was to successfully dispose of the asset in a timely manner. We took the strategy of being agreeable and fair in order to accomplish this goal and in the end felt that both sides came out winners.

Additionally, Bradley Sharpe, our professor and Real Estate Attorney, explained the importance of creating lease abstracts. This class presented us with various commercial contracts. Many of the contracts were flooded with legal language which can make it quite hard in finding critical & necessary data. However, after having read a commercial contract we were then tasked with creating a lease abstract. Abstracting a lease is crucial to Commercial Real Estate in that it requires a stable foundation for management, investment, due diligence & ownership purposes, and allows the reader to understand the important parts of each contract.

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