Real Property Management and Asset Management
Federman Steifman LLP has unparalleled expertise with respect to matters of regulatory and compliance issues affecting all aspects of building ownership, management, and operations. Our lawyers routinely handle matters related to the ownership and operation of real estate projects, including leasing and property management for all types of retail, office, industrial, and mixed-use projects, serving as outside general counsel for many real estate operating companies and third-party property management and asset management companies. Prior to joining our firm, a number of our lawyers served as in-house counsel at real estate companies or property management companies and are very familiar with the legal and operational challenges of these businesses.
Operational Issues, Vendor Management and Contract Obligations
Federman Steifman LLP lawyers have extensive experience in negotiating and documenting the agreements necessary to own and operate a wide range of real estate product types, including vendor agreements, construction management agreements, equipment and system maintenance agreements, security service agreements, brokerage and listing agreements, garage and parking management agreements, concierge agreements, union contracts, superintendent agreements, managing agent agreements, and ground/building/space leases. Federman Steifman LLP’s expertise extends to compliance with complex operational and management agreements relating to shopping center, residential, mixed-use, office, hospitality resort and golf club projects and industrial projects including condominium declarations, homeowners’ associations, and shopping center covenants, conditions and restriction regimes. Often Federman Steifman LLP drafts rules and regulations and operational protocols for projects owned by the Firm’s clients across all asset classes. Federman Steifman LLP also assists its clients in monitoring exclusive use provisions and other restrictions in leases and procures consents from lenders, joint venture partners and counterparties in connection with material actions and decisions, where applicable.
Financial Issues and Tenant Defaults
Maintaining and refining a comprehensive list of top-flight legal professionals with whom Federman Steifman LLP attorneys have prior experience (including landlord-tenant counsel) in all states, our lawyers have broad based experience recovering possession of leased premises for the owners of retail, mixed-use, office, and industrial projects. We have developed streamlined procedures to reduce the cost and/or time to recover possession of leased premises or restructuring leases following a tenant’s breach of lease. Our attorneys are experienced in resolving (with and without litigation) disputes of all kinds over the payment/nonpayment and collection of rent as well as breaches of covenants, conditions and restrictions impacting neighboring parcel owners and other tenants and navigating counterclaims concerning landlord liability.
Insurance Issues and Risk Management
Federman Steifman LLP assists its clients in complying with insurance requirements of loan agreements and lease agreements as well as resolving a variety of general liability and other insurance disputes involving casualties occurring at commercial projects including coordination with adjusters, documenting losses and negotiating settlements.
Federman Steifman LLP often administers its clients’ leases portfolio wide in the event a real estate family office or smaller portfolio owner does not have the infrastructure available to monitor important dates for deliverables, rental increases and renewals, maintain tenant files and collect insurance certificates.
Refinancing and Disposition Preparation
Federman Steifman LLP routinely coordinates the preparation, collection and review of estoppel certificates and subordination agreements in connection with the sale or refinancing of multi-tenant assets. The Firm also produces detailed lease abstracts for its clients’ real estate and mortgage brokers for integration into marketing packages.