Transactional Real Estate: Considerations When Severing A Master Lease

Real estate partners Peter Fisch and Salvatore Gogliormella’s latest transactional real estate column, “Considerations When Severing A Master Lease,” appeared in the November 2 issue of the New York Law Journal. The authors discuss characteristics of master leases—a structure used by a single landlord (or group of affili­ated landlords) and a single tenant (or group of affiliated tenants) to streamline the administration of a large-scale portfo­lio of properties. The authors also examine various complications that can arise when a party wants to sever the master lease into separate leases of different properties in the portfolio, which can have a meaningful impact on many of the parties’ rights and remedies and on their ability to manage and exit their investments in the portfolio.

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