They usually sign an option agreement and put up good-faith money to control the land for enough time to secure the necessary approvals. If a major tenant is involved, they will seek a lease or a letter of intent from the tenants that provides sufficient control to prevent the tenants from ... For example, the approval process for one shopping center in Connecticut took nine years. ... For the real estate owners (the developers), mortgage bankers identify and negotiate term debt financing.
|Title||:||Principles of Commercial Real Estate|
|Publisher||:||Dearborn Real Estate - 2002-01-01|