Lease Abstraction

Most corporate have leases that span over multiple domains, properties and locations. Summarizing these into identifiable groups provides the following advantages: (a) ease of monitoring; (b) revenue visibility; (c) identifying vulnerable points.

It is crucial to include the financial and non-financial information in the preparation of a Lease Abstract, as these are critical component in the valuation of a property, or portfolio of properties in case of refinancing, an acquisition, or disposition, property owner's annual budget etc.

Following are some of the key data which we extract and update

• Basic Information: Landlord, Tenant, Sublease, Property, Address, Floor, Suite, Rentable Square Feet, Pro Rata Share
• Term: Lease Commencement Date, Rent Commencement Date, Lease Expiration Date Term, Renewal and Option Dates
• Tenant Options: Renewal, Expansion, Contraction, Termination, Relocation, Purchase
• Landlord Options: Termination, Relocation
• Use / Restrictions: Permitted Use, Prohibited Use, Exclusive Use, Co-Tenancy, Landlord Restrictions
• Legal: Default, Landlord Notices, Tenant Notices
• Miscellaneous: Tenant Improvements and Alterations, Signage, Parking, Guarantor, Brokers etc

• Rent: Base Rent, Rent Increase, Renewal Rent, Rent Abatement, Rent Out standing, Security Deposit, Late Fee
• Additional Rent: CAM / Operating Expenses, Real Estate Taxes, Landlord’s Insurance, Utilities-Premises, Repairs and Maintenance