Revisiting Credit Support in Early Sale Transactions

In early sale transactions, particularly those involving lifestyle shopping centers, the seller may be faced with the prospect of closing the transaction prior to the date on which each of the tenants' opening co-tenancy conditions have been satisfied. As a result, the project is not generating its maximum level of income, thereby resulting in a lower income stream for the purchaser at closing. To avoid a reduction in the purchase price as a result of such opening co-tenancy rental relief, the seller can make post-closing payments to close this income gap.

20 minute readMarch 27, 2007 at 10:49 AM
By
James H. Marshall
Revisiting Credit Support in Early Sale Transactions
The first two installments of this article discussed credit support transactions in general and income support. The conclusion focuses on co-tenancy support.

In early sale transactions, particularly those involving lifestyle

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