All Forum Posts by: Scott Cash

I'm part of a three-member LLC that owns a $10M commercial property outright (each holding 33.3%). One member wants to be bought out and the other two want to develop new commercial product. I figure we have around 5M equity we can borrow against after 70% ltv and buying out the other member. With a blank slate, what would you do?

We own a large industrial building. We are re-negotiating with the tenant for a 5 year lease. They wanted a Right of First Offer clause added to the lease. We agreed, however we wrote it to not survive if we sold the building to a new owner. We did this because we were unsure how a buyer would look upon the clause and thought it may lower the value of the property if we were ever to sell. The tenant wants the clause to be survivable to the new owners. The question is, will it hurt the value of the building when we go to sell or should we not get too hung up on it?

If you have experience dealing with ROFOs, would love to hear your thoughts. 

(ps. This is not a Right of First Refusal. It just states they have 30 days to make an offer before we list it. We are not obligated to accept it.)

Excellent info friends. Thank you for the direction. I will take it and run with it for now. Will report in

Looking a 9 acre lot that used to be a salvage yard/auto shop. Anyone ever had to contend with EPA, Phase I, Phase II reports, Brownfield Designation? Many questions. What am I getting myself into? Any advice on what to plan for or expect would be greatly appreciated. How do I get an estimate for clean-upbefore making an offer? Does the current owner have to apply for Brownfield or could I after I buy it? Can adjacent properties sue me for cleanup later on? First time commercial buyer here.