Field Guide to Ground Leases
(Updated November 2009)
What terms and conditions should be considered when entering into a ground lease? What are the advantages of ground leases? What impact do these leases have on submerged land, university property, billboards, and improvements on public land? Find out in this updated Field Guide. (D. Foligno, Project Specialist)
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). Q
Ground Lease Basics
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)
Groundwork for ground leases, (Dudnick, Detwiler, Rivin & Stikker, LLP, Oct. 2005)
Ground leasing from a municipality for retail development, (Property Writes, Second Quarter, 2005)
Fannie Mae Form 4326, Ground lease requirements, (eFannieMae.com, May 2000)
Ground Lease News
Four of the top 10 things the landowner needs in a billboard ground lease, (Billboard Weekly, Oct. 8, 2009)
Ground Leases and the Credit Crunch: Fresh Opportunities, (Morgan Lewis Real Estate Strategies, April 2009)
A creative tool in the current economy, (Minnesota Real Estate Journal, Jan. 2009)
A reality check on ground lease reversions, (Appraisal Journal, Winter 2009)
Experience Pays, (CIRE/CCIM, Sept/Oct. 2008)
Ground control: owners and developers unearth opportunities through creative land leases, (Commercial Investment Real Estate, May/June 2006)
Valuation Considerations
Qualified ground lease lenders can help borrowers save time and money, (CCIM, Sept./Oct. 2008).
An equilibrium analysis of real estate leases, (The Journal of Business, July 2005). Q
Alternative deal structures can help bridge valuation gaps, (Hotel and Motel Management, Feb. 7, 2005).
Valuation of submerged lands, (The Appraisal Journal, July 2001)
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eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Economic forces shaping unsubordinated groundlease: part 1 - lender interests, (Real Estate Review, Winter 1999).
Economic forces shaping unsubordinated groundlease: part 2, (Real Estate Review, Spring 1999).
Economic forces shaping unsubordinated groundlease: part 3, (Real Estate Review, Summer 1999).
Economic forces shaping unsubordinated groundlease: part 4, (Real Estate Review, Summer 1999).
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