SLG, along with the cooperative efforts of a regional bank, title companies, and TIC counsel, has spearheaded the first known institutional retail Tenant in Common loan program in the State of California. SLG represents its lender clients in review of Tenant in Common agreements and loan documents for both fractional and joint/several financing to ensure protection of lender rights. SLG has developed lender protection addendums to loan documents to help protect lenders’ interests when extending fractionalized financing on TIC properties in the San Francisco Bay Area and throughout California.
SLG provides review of loan documents and agreements to protect its clients’ interests against potential problems that may arise due to fractionalized financing, including, but not limited to rent control restrictions, partition, bankruptcy, and owner occupancy requirements. SLG provides guidance for lenders who are considering making TIC loans and continues to work with title companies and TIC counsel in order to further lender protections for lenders that are considering lending on individual TIC interests.