Real Estate/Development
Apr. 15, 2020
COVID-19 redefines commercial leasing (part 2)
A major consideration for landlords and tenants is a loss of business or increased liabilities due to the COVID-19 outbreak. Insured parties should review their insurance coverages and determine whether additional coverages are available or whether COVID-19-related losses are a covered event.
Grace Winters
Partner
Manatt, Phelps & Phillips, LLP
Grace is a Real Estate partner in the firm's Orange County office. She represents property owners, developers, capital providers, landlords, tenants and investment fund managers in connection with acquisitions, dispositions, joint ventures, exchanges, development, ground leasing, commercial leasing, financing, construction and other transactions involving real property.
Anita Sabine
Partner
Manatt, Phelps & Phillips, LLP
Anita is a partner in the firm's Los Angeles office and leads the firm's real estate transactions and finance practice and the cannabis and CBD practice. She represents owners, operators, lenders, developers, investors and others in a range of financing, development, leasing and investment-related transactions.
Martin Steere
Partner
Manatt, Phelps & Phillips, LLP
Marty is a Real Estate partner in the firm's Los Angeles office. His practice encompasses all aspects of transactional matters, including the structuring of complex acquisitions and dispositions of real property.
Alison Weinberg-Fahey
Associate
Manatt, Phelps & Phillips LLP
Alison is a Real Estate associate and director in the firm's Los Angeles office. She focuses her practice on commercial real estate transactions, including acquisitions and dispositions, development, joint ventures, and secured loans.
Part I of this article evaluated some potential avenues for landlords and tenants to share the burden of the COVID-19 pandemic on the commercial real estate market. We will now evaluate ways the risk might be covered by insurance or excused to some extent by way of force majeure claims.
Insurance Claims
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