Commercial Real Estate
- Advising commercial real estate clients about the ramifications of COVID-19 on following issues:
- time of the essence and force majeure provisions in purchase and sale agreements, lease agreements and other real estate agreements;
- real estate due diligence, closing efforts, and financing, including the effect of travel bans, self-quarantines and closures;
- disclosure obligations to potential buyers if tenants or employees have been diagnosed with COVID-19 or areas in the building that may have been affected;
- legal obligations of landlords and tenants with regards to asking employees to clean affected areas;
- tenants’ right to withhold rent if a landlord is not providing required services or the tenant cannot access its premises; and
- property managers with regard to implementation of plans for notification, enhanced cleaning and interruptions in operations in accordance with health guidelines and applicable laws.