This annual advanced course of study, comprising 20 hours of instruction, discusses and analyzes the techniques and substantive law of modern commercial real estate practice. It is designed for lawyers representing developers, construction and term lenders, investors, landlords, and tenants.
All registrants for the course receive ALI-ABA’s Course of Study Materials: Modern Real Estate Transactions. These substantial course materials, which are published specifically for use in this course, include analyses, checklists, and forms that serve as the basis for comments made by the faculty.
The program and the course materials are useful to lawyers for all parties to the transactions that make up a commercial real estate practice. The course discusses land acquisition, due diligence, development and construction, interim and term financing, leases, management, and disposition. Conventional, securitized, and non-conventional forms of financing are examined together with the ramifications of unwinding off-balance-sheet financing and the ethical considerations involved in its use. Other sections of the program deal with commercial leasing and ground leases. Title insurance and income tax considerations are addressed throughout the program by experts in those areas.
The course emphasizes the pragmatic rather than the theoretical. The forms published in the course materials are the products of actual real estate transactions drawn from the faculty’s practice. The speakers analyze the concepts underlying the forms and discuss alternative provisions in a panel discussion format.
The combination of faculty discussions and the course materials make up a presentation that is designed to be comprehensive. For experienced real estate practitioners, the course provides an overview and update; for younger attorneys entering into a real property specialty, a bridge-the-gap transition; and for general practitioners occasionally involved in real estate transactions, a comprehensive reference.
Time is reserved throughout the program to respond to registrants’ written questions. A reception for faculty and registrants at the conclusion of the Wednesday program provides networking opportunities.
John D. Hastie, Phillips McFall McCaffrey McVay & Murrah, P.C., Oklahoma City
2:00 p.m. Options (Expansion, Contraction, Purchase, Rights of First Refusal, and First Offer)
2:45 p.m. Operating Covenants
3:15 p.m. Networking Break
3:30 p.m. Ground Leases
4:30 p.m. Questions and Answers
4:45 p.m. Adjournment for the Day
SATURDAY, JULY 28, 2007
8:30 a.m. Continental Breakfast
Ethics and Professionalism
9:00 a.m. Overview
9:15 a.m. Representing Developers and Borrowing Entities in the Same Transaction
9:45 a.m. Selection and Use of Local Counsel in Multi-State Lending Transactions
10:15 a.m. Networking Break
10:30 a.m. Ethics Hypotheticals
12:00 noon Adjournment
Total 60-minute hours of instruction: 20, including 2.75 hours of ethics and professionalism; total 50-minute hours: 24, including 3.3 hours of ethics and professionalism
Suggested Prerequisite: Limited experience in legal practice in subject matter or completion of Basic CLE Course in subject matter
Educational Objective: Acquisition of knowledge and skills to develop proficiency as a practitioner; maintenance of professional competence as a practitioner; provision of information on recent legal developments; development of proficiency in performance of intricate and complex legal tasks within a narrow area