Transaction Simulation: Acquisition of Urban Real Estate for Major Commercial Re-Development

This course is one of the semester-long transaction simulations offered as part of the School's Transactional Law Program and satisfies the Transaction Simulation requirement of the Transactional Practice Concentration. The simulated transaction involves the sale of an urban site in Cambridge, MA comprised of buildings currently or previously occupied by commercial tenants which is to be re-developed into a high-end mixed-use multi-family and retail building. The course is intended to expose students to various transactional, regulatory and other issues faced, and lawyering tasks undertaken, by both junior and more senior attorneys in this type of transaction, and to enable students, in performing these tasks, to develop important practice skills in the area of commercial real estate. The class will be divided into teams at various stages of the transaction, with each team representing the buyer or the seller, regarding the acquisition of the property, or the local developer or capital partner regarding forming the venture that will acquire this property. Students will perform the key analytical, drafting and other legal tasks required to effectively represent their respective clients during various stages of the transaction from inception through closing. Throughout the semester students will be able to interact with a variety of real estate developers and experts. The course grade will be based on periodic drafting, negotiating and other written assignments (both in-class and homework), contributions to team efforts, and individual class participation. CLASS SIZE: Limited to 12 students. NOTES: This course counts toward the 6 credit Experiential Learning requirement. The class will also satisfy the Transaction Simulation requirement of the Transactional Practice Concentration. GRADING NOTICE: This course does not offer the CR/NC/H option. ATTENDANCE REQUIREMENT: A student who fails to attend the first class or to obtain permission to be absent from either the instructor or the Registrar, will be administratively dropped from the class. Students who are on the wait list are required to attend the first meeting to be considered for enrollment.