The pandemic is causing unprecedented upheaval in the real estate market through bankruptcies, closure orders, and increased remote work, among other challenges. Lessors and lessees across asset classes require legal counsel that is knowledgable and experienced in the specific set of challenges presented in distressed situations.
Akerman's Commercial Leasing and Development Team provides landlords and tenants with a depth of knowledge and experience to guide clients through distressed situations. Our experience encompasses all types of lease-related issues, including resolving rent disputes, as well as negotiating the structuring or restructuring of leases, modifications, and amendments, to address the ever changing economic environment. Akerman’s experience spans all asset classes, including industrial, office, and retail, and all types of leasehold estates whether they consist of leases, ground leases, subleases, or any other lease structure in which a landlord or tenant has an interest.
Akerman's breadth of service and experience provides our leasing team with the subject matter specific knowledge to draw upon in order to resolve issues beyond the four corners of the lease. Our nationally ranked Bankruptcy and Reorganization and Real Estate Litigation Practices, and a Distressed Property Team addresses lender as well as other distressed related issues, including rent deferrals, abatements, security draw downs and any other relief that the parties require. Our Corporate and Tax Practice Groups are also experienced in representing owners and investors in the related entity and tax issues surrounding a lease restructure. Furthermore, we provide the analysis to determine the rights of the parties during any mandatory lockdowns, limitations, or any force majeure event.