What a week this has been since the closure of Silicon Valley Bank. As noted in our Client Alert of last week, California State regulators shut down Silicon Valley Bank (SVB) on Friday, March 10, 2023, and appointed the...more
While unexpected, the closure by California regulators of, and the appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver for, Silicon Valley Bank (“SVB”) is an event that is contemplated by most...more
3/13/2023
/ Banking Sector ,
Banks ,
Borrowers ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Landlords ,
Letter of Credit ,
Receivership ,
Silicon Valley
In what may turn out to be a lesson on the limits of the application of equitable doctrines supporting rent relief in the face of good lease drafting, a California court of appeal panel in San Diego has taken a narrow view on...more
2/3/2023
/ Appellate Courts ,
CA Supreme Court ,
California ,
Coronavirus/COVID-19 ,
Financial Distress ,
Landlords ,
Leases ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
In March 2020, the voters of San Francisco approved Proposition D, also known as the Commercial Vacancy Tax. The ordinance applies to ground floor, street-facing, commercial properties within any of the 32 districts listed in...more
Following the passage of its commercial eviction moratorium for certain qualified tenants in December 2020, the San Francisco Board of Supervisors, on August 4, 2021, provided additional assistance to the same class of...more
In the recently-passed Consolidated Appropriations Act, 2021 (the “Act”), Congress provided much-needed cover for landlords that enter into forbearance agreements with their tenants during the COVID-19 pandemic by protecting...more
In an update to our client alert from November 30 regarding the San Francisco commercial eviction moratorium previously passed by the Board of Supervisors, we note that, following our publication of the client alert, the...more
San Francisco’s Department of Public Health (“SFDPH”) issued yet-another update to its Shelter-in-Place Order, C19-07, on September 14, 2020 (now up to version “i”). This order has been frequently modified to reflect changes...more
On Thursday, August 13, the California Judicial Council elected to rescind Emergency Rules 1 and 2 related to eviction and foreclosure actions in California applicable to both residential and commercial properties, effective...more
Since the outbreak of the COVID-19 pandemic, local municipalities and state governments throughout the country have implemented stay-at-home orders and mandated closures of businesses and restaurants to lower the spread of...more
7/27/2020
/ CA Supreme Court ,
Commercial Real Estate Contracts ,
Coronavirus/COVID-19 ,
Force Majeure Clause ,
Frustration of a Common Purpose ,
Impossibility ,
Impracticability ,
Landlords ,
Non-Essential Businesses ,
Restaurant Industry ,
Shelter-In-Place ,
Tenants
Following California Governor Gavin Newsom’s executive order permitting local municipalities to regulate residential and commercial evictions, on March 17, 2020 San Francisco Mayor London Breed announced a moratorium on...more
The world-wide declared pandemic... is impacting daily life, both personally and professionally. Real estate transactions are being delayed, projections altered and consumer-oriented businesses impacted. While small...more
There have been recent developments in the enforcement of the California Safe Drinking Water and Toxic Enforcement Act of 1986 (also known as Proposition 65 or Prop 65) that require businesses with 10 or more employees to...more
6/26/2019
/ Apartments ,
Commercial Property Owners ,
Landlords ,
Multi-Family Development ,
Notice Requirements ,
OEHHA ,
Proposition 65 ,
Residential Property Owners ,
Toxic Chemicals ,
Toxic Exposure ,
Written Notice
In most every acquisition of a commercial property, the prospective buyer (and the prospective buyer’s lender) will require that the property’s tenants execute an instrument confirming various terms of their respective...more