A Quick Look at Subordinated Ground Lease

With a bachelor’s degree in real estate from the University of Wisconsin, Dean Britton is a professional real estate expert with many years of experience. Currently, he is a lead partner at Alliance Investment Advisors, a New York-based commercial real estate financing firm. Dean Britton’s company offers its clients finance solutions to acquire or recapitalize commercial real estate like ground leases.

A ground lease is a legal agreement between a property owner and a tenant, giving the tenant the right to use and develop land for a stipulated period, after which the tenant returns the property to the owner. This means that businesses looking to build a structure don’t necessarily need to buy land to make that happen if they can reach a ground lease agreement with a landowner.

One common type of ground lease is the subordinated ground lease, where the landowner is actively involved in the development process by helping in sourcing funds. In this type of ground lease, landowners use the leased land as collateral to help developers obtain a construction loan, which is usually very expensive. Through this, landowners get a substantial stake in the project, though they can lose ownership of their properties to lenders upon loan default by the developers. Upon completion of the project, rental rates are usually higher to give landowners extra compensation for their risk.

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Membership Categories of the Classic Car Club of Manhattan

A biomedical ethics graduate from Brown University in Providence, Rhode Island, Dean Britton is the lead partner at AIA in New York City, New York. Outside of work, Dean Britton is a racing enthusiast who has raced over the Eastern Seaboard. He is also a member of the Classic Car Club of Manhattan.

The Classic Car Club of Manhattan offers three membership categories: the clubhouse, driver, and the corporate option. The clubhouse option offers full access to the facilities and all the local, national, and international calendar events.

The driving option offers access to the club’s fleet, in which the member can pick any car and race off to a destination of their choice. The corporate membership fits the executive clientele. The members can pick any option from the vehicle fleet, and even share or hand over to non-members. Multiple members can use one account and add partners, colleagues, and clients.

Members pay monthly. The driver members enjoy reward points for individual bookings, while corporate membership is customized.

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