This course provides an in-depth exposure to the practice of commercial real estate transactional law, including an analysis of the differing perspectives of each side of a transaction and a hands on study of how lawyers negotiate and document various types of commercial real estate transactions. Students will be exposed to the practical ways that the theoretical concepts of real property law are applied to contemporary commercial real estate transactions. The first portion of the course will examine the issues, documents and participants in commercial real estate purchase and sale transactions, as an introduction to commercial real estate transactions generally. Topics will include the nature of property interests being sold, due diligence reviews, representations and warranties, covenants of the parties, conditions to transactions, closing mechanics, and remedies for breach. Later course sessions will provide an introduction to other aspects of commercial real estate practice, including leasing, land use/development, real estate finance and joint ventures. This course will be specifically focused on commercial real estate, and will particularly benefit students interested in this specialized practice area of transactional law. The course will meet once weekly, and each class session will be divided into a traditional lecture component and a “lab” session in which students will undertake specific practice tasks including drafting, document analysis, and feasibility reviews. Some lab sessions will involve mock real estate negotiations. Class sessions will also incorporate guest speakers from a variety of specialties within the commercial real estate industry.
