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White House Implements Plans to Facilitate Office-to-Residential Conversions

Esquire Property Management Group

In response to this scenario, stakeholders in the Commercial Real Estate sector, including landlords, developers, lenders, commercial property managers, and other interested parties, have turned their attention to a seemingly straightforward solution: the conversion of unused or vacant office space into residential units.

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Commercial Real Estate – Binding Letter of Intent, Or Not?

Esquire Property Management Group

A Letter of Intent Must Contain the Deal’s Essential Terms to Be Enforceable While a Letter of Intent (LOI) stating, “Party A agrees to sell its commercial property to Party B and Party B agrees to buy it,” may signal a mutual commitment to a transaction, its mere existence does not confer enforceability.