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From PSAs to Leases, Here’s What the Pandemic Meant for Crucial CRE Docs

Bracewell’s Brock Bailey recently discussed with the Dallas Business Journal the state of commercial real estate documents in light of COVID-19 and how the market is adapting to the pandemic.

“The pandemic has made us all stop and think in the negotiation process of what market is; what makes sense for each party; and how parties address their concerns, manage the risks and mitigate the downside,” said Bailey. “Whether you’re talking about a construction loan, equity documents, purchase and sale agreements, or leases, the pandemic played a critical role. We all do our very best on both sides of deals to think of the worst-case scenario and try to accommodate that in the documents. COVID was certainly never mentioned. A global pandemic hasn’t occurred in 100 years, so it wasn’t something top-of-mind in most documents.”

“Both sides know the world we live in now, know the perceived worst-case downside in terms of what a pandemic can cause and try to address it through negotiations,” added Bailey.

Click here to read more from the DBJ.