Global

Five things you need to know about… preparing for adversity

Mark Eagan, real estate head of the Americas for Hogan Lovells advises investors to keep a firm grip of their documentation in increasingly uncertain times

Brexit? No government in Spain? Refugees? Trump for president? Perennial economic cycles? Take your pick on causation, but whatever your real estate business and wherever around the globe you invest, sooner or later you will experience a downturn in your property investment fortunes.

A prudent and resourceful investor will anticipate the downturns, and attempt to put itself in the best possible position to react to crises, large and small. As lawyers, our focus tends to be on the documentation for our clients’ investments – the loan agreements, joint venture agreements, management agreements, and so on.

But, the best portfolio tune-up comes not just from analysing documents for holes, but also from analysing, together with our clients, how the parties have adhered to (or deviated from) those carefully negotiated documents over their term. In an adversarial situation involving your contract counterparty, an unintended foot-fault can spell the difference between success and failure.

You spent significant time and good money to get your documents just right. All that will have been in vain if you don’t adhere to their provisions, so put yourself in the best position to enforce your rights and profit from your negotiations.

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