Financing And Refinancing Commercial Real Estate In Boston
Cushing & Dolan, P.C., provides representation to local and national lenders, owners, developers, investors, buyers and sellers concerning the financing of commercial real estate projects. Our work in this area includes review of permanent loan financing, construction lending and revolving debt facilities. We also advise purchasers of commercial real estate and developers regarding commercial real estate financing issues.
Our extensive experience in this field enables us to respond quickly to opportunities, even in projects involving complex finance and structuring arrangements. We can assist in the financing aspects of commercial real estate projects of all types, including office properties, hotel and hospitality, industrial, retail, mixed use and multi-unit housing.
For a free consultation regarding a commercial property financing matter, contact Cushing & Dolan, P.C.
Massachusetts Commercial Mortgage Attorneys
Cushing & Dolan, P.C., can assist clients in all types of real estate financing matters, including straight loans, acquisition loans, mezzanine loans, private equity financing, bond financing and collateralized mortgage backed securities. Our capabilities in this area range from traditional single-lender mortgage loans to complex financing arrangements involving multiple parties.
As in all other areas of our practice, our lawyers and professional staff are detail oriented and focused on achieving a prompt and satisfactory resolution of the matter at hand. Our Boston commercial real estate finance attorneys stand ready to assist you.
Common Challenges In Commercial Real Estate Financing
Commercial real estate financing can run into some obstacles or challenges, and our experienced team will provide the guidance that is necessary to navigate them. We know this area of the law very well and have been providing dedicated legal services since 1984. We have more than 275 years of combined experience.
For example, many businesses have complex structuring, and multiple parties may be involved in the purchase or ownership of the real estate. It is very important for everyone to be on the same page, to understand their contractual obligations, and to know what ownership rights they will have after the transaction is complete. They may also need to consider financial investment levels and how this can impact ownership percentages.
Another common challenge comes when an appraisal is carried out. It is crucial to have an accurate valuation of the property, both for the buyer and the seller. This can be done by looking at comparable properties, examining the local real estate market itself, considering unique details that may make that property more valuable, especially in a commercial context, and considering zoning regulations to ensure that the property can actually be used as intended. If there are significant hurdles, they may need to be addressed before buying, such as seeking a variance if the property is not in the proper zone.
Finally, there can be challenges when having an inspection carried out. If the real estate fails the inspection, both sides may get into disputes regarding who needs to pay for the upkeep or improvements to get it up to code. In some cases, environmental regulations have to be considered at this time.
What Documents And Information Will You Need?
Certain documentation can be beneficial when navigating a commercial real estate transaction. Business owners may want to present:
- Financial statements from the company
- Investment or banking statements
- Tax returns
- Individual financial statements
- Business plans
- Property details, such as surveys
- Collateral documentation
If seeking financing, lenders will want to see the business plan to determine if it is viable. They may also want to know about collateral and financial assets that the business holds, which can help them determine the level of risk involved with providing the business loan.
The sellers may need to provide documentation on maintenance and upkeep that has been carried out, especially if there are any known defects or major repairs that had to be made in crucial areas like heating and cooling systems, electrical or plumbing lines, or roofing and foundational issues.
Contact A Lawyer
To schedule a free consultation regarding a commercial real estate financing matter, call 888-759-5109 or contact us online. We have seven offices in the Greater Boston area.