Lease abstracting is a critical first step in the financing, re-financing and acquisition of commercial real estate properties. Our professionally trained legal team develops timely, accurate and concise abstracts of tenant leases for lenders, buyers, borrowers, sellers and managers of commercial real estate, as well as for law firms looking to outsource this aspect of the transaction process.

Situs’ lease abstracting clients typically include many of the largest national and international lending institutions and portfolio owners. Each year our abstracting team reviews, analyzes and abstracts thousands of leases on a variety of property types including office, retail and industrial, and we routinely complete large abstracting assignments with short turnaround expectations.

Situs’ lease abstracting services are available separately or as an integral component of our Real Estate Consulting services. We also offer an effective, secure way to manage our clients’ lease documents using the Situs D.O.R. (Digital Online Repository). Leases, amendments, assignments, and other critical documents can be immediately accessed by authorized users anytime via the Internet, saving clients time and money.

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Abstracting Types

Situs offers the following types of lease abstracting to clients:

• Financial/Management
• Rent Roll Reconciliation
• Single Property or Portfolio

Special Services

Situs' lease abstracting team offers the following special services to clients:

• Seller and Buyer Issues
• Borrower and Lender Issues
• Category Analysis (e.g., Assignment or Co-tenancy)
• Estoppel Reconciliation

Our "Issues" lists provide an efficient tool for clients to identify, understand and resolve issues that might have a material impact on the future cash flow generated under a lease, including tenant termination rights, unusual abatement scenarios, free rent periods, rent roll or document discrepancies, and upcoming tenant improvement allowances.

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Abstract Templates

Situs works with all clients to tailor our abstracts to their preferred formats. Some of the abstracting templates we offer include:

• Basic-to-Detailed Excel Formats
• Narrative Formats
• Client and Customized Formats
• REA, Ground, Government and Hotel Management

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Pricing Structures

Situs offers the following variety of pricing structures to help our clients effectively and efficiently manage their transaction costs:

• Fixed pricing (typically available)
• Pricing based on format, level of detail, timing and complexity
• Attractive hourly rates
• Special pricing for large portfolios