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Field Guide to Ground Leases

(Updated November 2011)

What are the advantages of ground leases? What terms and conditions should be considered? Find information and the latest news on ground leases including financing and valuation. (M. Martinez-Garcia, University Librarian & Manager, Collection Development)


Ground Lease Terminology

  • Rent
  • Term of lease
  • Feasibility period
  • Permitted use & development
  • Leasehold mortgagee provisions
  • Casualty & condemnation
  • Exit strategies

Source: Ground lease primer: "dealing" with the intimidating ground lease, (Real Estate Finance, Dec. 2003). 


Ground Lease Basics

Negotiating long-term ground leases for build-to-suit buildings, (Jeffrey O'Brien, esq.com, 2011).

Instructions for leasehold projects, (HUD, May, 2011).

The ABCs of ground leases, (SIOR, 2nd quarter 2008).

Ground lease 101, (Realty Times, Oct. 24, 2006).

Ground control, (Commercial Investment Real Estate, May/June, 2006).

Fannie Mae Form 4326, Ground lease requirements, (eFannieMae.com, May 2000).


Ground Lease News

Controversial part of ground rent law overturned, (Baltimore Sun, Oct. 25, 2011).

Should you buy property on leased land? (Investopedia.com, July 4, 2011).

Why I bought in a land-leased building, (Brick Underground.com, Mar. 2, 2011).

Ground Leases and the Credit Crunch: Fresh Opportunities, (Morgan Lewis Real Estate Strategies, Apr. 2009).

A creative tool in the current economy, (Minnesota Real Estate Journal, Jan. 2009).

Ground control: owners and developers unearth opportunities through creative land leases, (Commercial Investment Real Estate, May/June 2006).


Valuing & Financing Ground Leases

How to maximize ground leases to finance hotel projects, (RevMax Consulting, Aug. 12, 2011).

A reality check on ground lease reversions, (Appraisal Journal, Winter 2009).

Qualified ground lease lenders can help borrowers save time and money, (CCIM, Sept./Oct. 2008).

Adding Value Before Breaking Ground: Keys to a Financeable Ground Lease, (Lorman Educational Services, Oct. 2007).


eBooks & Other Resources

eBooks.realtor.org

The following ebooks and digital audiobooks are available to NAR members:

Commercial Real Estate Investment, Adobe PDF eBook

Books, Videos, Research Reports

The Truth About Ground Leases, (Practising Law Institute, Sept. 2011)

Leases/Leasehold Estates and the SurveyorWhite Paper, (Land Surveyors Advisory Council on Technical Standards, Dec. 3, 2010)

Field Guides & More

These field guides and other resources in the Virtual Library may also be of interest:

Field Guide to Investing in Real Estate

InfoCentral Blog


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The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.