Lease Abstracting

Lease abstracting is a critical first step in the acquisition, financing, and re-financing of commercial real estate properties. Our professionally trained legal team develops timely, accurate and concise abstracts of tenant leases for our clients, who include lenders, buyers, borrowers, sellers and managers of CRE, as well as law firms looking to outsource this part of the transaction process.

We work with each client to tailor the abstracts to their preferred format. Situs abstractors provide an Issues List that identifies any factors that could have a material impact on future cash flows such as:

• Tenant termination and co-tenancy rights 
• Unusual abatements and free rent periods 
• Rent roll or document discrepancies 
• Upcoming tenant improvement obligations

The Issues List provides an efficient tool for clients to identify, understand and resolve issues without having to refer back to the abstract itself. Situs also offers an effective, secure way to manage clients’ lease and loan documents using the Situs D.O.R. (Digital Online Repository). Leases, amendments, assignments, and loan documents and other critical documents can be immediately accessed by authorized users anytime via the Internet, improving clients’ efficiencies and productivity, and reducing costs. 

Abstracting Types

• Retail, office, industrial 
• Financial / management 
• Rent roll reconciliation 
• Single property or portfolio

Special Services

• Lease administration 
• Client software and lease data entry 
• Category analysis (Co-Tenancy / Go Dark) 
• Detailed CAM breakdowns / CAM pools

Pricing Structures

• Fixed pricing typically available 
• Based on format, level of detail, timing and complexity 
• Attractive hourly rates 
• Special pricing for large portfolios

Loan Abstracting

A commercial loan abstract is an essential tool for loan sellers, loan purchasers, loan servicers and asset managers.  The loan abstract provides a roadmap of the loan documents that can be utilized by servicers to board the loan, and it gives asset managers a snapshot of the deal they are managing. Our specialized team of loan abstractors is able to navigate highly complex loan documents and provide accurate, clear and understandable loan abstracts in a timely manner. As with lease abstracts, we will work with each client to tailor the abstracts to the client’s particular needs and will provide an Issues List identifying missing documents, discrepancies among the loan documents, missing UCC’s, etc.