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November 10, 2020

Oscar Rivera Co-Authors Article for ABA Probate & Property Magazine: “Navigating Early Termination Clauses in Commercial Leases”

by Siegfried Rivera

Siegfried Rivera

Firm co-managing partner Oscar R. Rivera co-authored the lead front cover article for the November-December issue of the American Bar Association’s Probate & Property magazine together with Travis D. Hughes of Atlanta-based Hughes Investment Partners. The article, which is titled “Navigating Early Termination Clauses in Commercial Leases,” focuses on the tolls that the COVID-19 pandemic and the Spring 2020 protests have taken on many businesses and commercial landlords. It discusses important early termination provisions and the need to anticipate likely and unlikely future calamities in commercial leases.

Our firm salutes Oscar for sharing his insights into these timely issues impacting commercial leases with the readers of the ABA’s Probate & Property. Click below to read the complete article.

Probate & Property article

June 10, 2020

Oscar Rivera Quoted in Miami Herald Article: “The Pandemic Gave Franchisees Shopping South Florida Real Estate a Leg Up”

by Siegfried Rivera

Siegfried Rivera

The firm’s Oscar R. Rivera was quoted in an article that appeared in the Miami Herald‘s website today and is expected to appear in the print edition in the coming days. The article, which is titled “The Pandemic Gave Franchisees Shopping South Florida Real Estate a Leg Up,” focuses on opportunities that are now opening up for commercial real estate buyers and franchises catering to middle-market shoppers and diners. It reads:

. . . A variety of national and local franchisees want to buy: Dunkin’ Donuts, 7-Eleven and Mr. Gomas Tires. Categories include beauty, experiential retail, cloud kitchens — think: co-working facilities for individual professional chefs — and, yes, gyms. . .

. . . But buyers aren’t necessarily finding bargains. While some pre-COVID contracts have been re-negotiated, most prices remain steady, said Oscar Rivera, lawyer and partner at the Coral Gables-based firm Siegfried Rivera, a retail specialist.

Still, franchise owners are jumping into the market “There’s pent up demand to eat out. There will be a drop off in people’s buying power [due to the economy and job losses]. That will be felt across the board,” Rivera said. “But since the price point in these restaurants are not significantly high compared to other restaurants, it will be felt less so.”. . .

Our firm salutes Oscar for sharing his insights into one of the impacts of the coronavirus pandemic on commercial real estate in South Florida with the readers of the Miami Herald. Click here to read the complete article in the newspaper’s website.

June 2, 2020

Oscar Rivera Shares Insight on Residential and Commercial Evictions in Today’s Sun Sentinel

by Siegfried Rivera

Siegfried Rivera

The firm’s Oscar R. Rivera was quoted in today’s South Florida Sun Sentinel in the newspaper’s article on the status of the residential evictions moratorium headlined “Gov. Ron DeSantis Extends Florida’s Evictions Ban for One More Month to July 1.” The article reads:

. . . The moratorium pertains only to residential properties and not to commercial real estate such as office buildings, warehouses, free-standing retail shops and shopping malls.

Oscar Rivera, an attorney at the South Florida law firm of Siegfried Rivera, said Monday that clients who operate apartment buildings have not seen an outpouring of delinquencies since the coronavirus pandemic upended the economy. He surmised that is probably a result of loans and grant money flowing from the public sector to help keep businesses afloat.

“On the residential side, a lot of our clients who are owners of residential properties have been collecting a large percentage of rents,” he said. Commercial landlords, Rivera added, have been working out delays in rent payments for those tenants who need them.

“We represent all sorts of landlords and across the board; we have not seen a significant uptick in any kinds of defaults,” he said. “People are trying to look through this situation in the most favorable way possible.” . . .

April 20, 2020

Article by John Catalano in Today’s Miami Herald: “Owners of Retail Properties, As Well As Tenants, Will Feel Pandemic’s Bite”

by Siegfried Rivera

Siegfried Rivera

An article authored by firm shareholder John Catalano is featured in the Business Monday section of today’s Miami Herald. The article, which is titled “Owners of Retail Properties, As Well As Tenants, Will Feel Pandemic’s Bite,” focuses on the prospects for rent deferrals and insurance claims for the owners of closed stores and the spaces they occupy. It reads:

. . . It has quickly become apparent that the outbreak of COVID-19 will take a massive toll not only on retail tenants, but also on the owners of retail properties. One of the first places that retailers will look for potential relief will be their lease agreements, which may include force majeure clauses and other provisions that are designed to cover business disruptions caused by catastrophes and acts of God.

These provisions will often list events such as floods, earthquakes, war, strikes, government regulations, civil disorder, etc., as triggers that would delay parties’ obligations under the contract. The applicability of the spread of COVID-19 as a force majeure triggering event may depend on the exact wording used in the lease. Some may generally stipulate “conditions beyond the parties’ control, including but not limited to Acts of God” as qualifying conditions, while others may specify circumstances such as “war, terrorist act, government regulation, disaster or strikes.” While leases widely differ in their form, modern leases for most major retail centers include a carve-out that the occurrence of a force majeure event does not permit late payment or nonpayment of rent by a tenant. Continue reading

November 4, 2019

Firm’s Real Estate Attorneys Finalize Transactions Totaling More Than $76 Million

by Siegfried Rivera

Siegfried Rivera

Three of the firm’s shareholders finalized several real estate transactions totaling more $76 million in Broward and Monroe counties. John Catalano represented Konover South and Master Development Partners in their purchase of vacant property in Miramar, Fla. owned by the Cleghorn Shoe Corporation. The purchase was part of a $41 million acquisition that will pave the way for a 30-acre mixed-use community with 650 apartments to be developed by Altman Cos., while Konover South and Master Development Partners plan to break ground on a 56,000-square-foot retail center. Click here to read additional information on the deal from the pages of the South Florida Business Journal.

Oscar R. Rivera represented the seller in the sale of Palm Square, a 77,621- square-foot shopping center in Broward County that sold for $20.475 million to Galim Capital. The retail strip, located on Pines Boulevard, is at the epicenter of a thriving Broward County submarket, which is in the midst of adding multifamily, retail and mixed-use development to the area. Click here to access PROFILE Miami’s article and read more on the deal.

August 29, 2019

Susan Odess Authors Article in Today’s Daily Business Review: “Court Opens Citizens Property Insurance to Claims for Consequential Damages”

by Siegfried Rivera

Siegfried Rivera

The firm’s Susan C. Odess authored an article that appeared as the featured guest commentary column in today’s edition of the Daily Business Review, South Florida’s exclusive business daily and official court newspaper. The article, which is titled “Court Opens Citizens Property Insurance to Claims for Consequential Damages,” focuses on a recent precedent-setting ruling with a certified question to the Florida Supreme Court by the state’s Fifth District Court of Appeal. It reads:

. . . The appellate panel overturned the trial court’s decision and remanded the case back to the lower court for hearings on whether the claimant is entitled to consequential damages for lost rental income caused by the insurer’s delays and denials.

The case began with an insurance claim by Manor House with Citizens Property Insurance Corp., which accepted responsibility for the loss and paid $1.93 million. The property owner later reopened the claim seeking $10 million, and the insurer subsequently made additional payments for approximately $345,000. However, Citizens’ adjuster estimated the actual cash value and replacement cost value of the policyholder’s loss to be in the $5.5 to $6.5 million range.

The property owner eventually sued in 2007 seeking prompt payment of the allegedly undisputed amount of $6.4 million and asking the court to compel Citizens to engage in the appraisal procedures called for under the policy.

Continue reading

August 23, 2019

Article by John Catalano in Today’s Daily Business Review: “New Remote Online Notary Law Brings Notarization Process Into 21st Century in Florida”

by Siegfried Rivera

Siegfried Rivera

For the second consecutive day, an article by one of the firm’s attorneys is featured as the guest commentary column in today’s edition of the Daily Business Review, South Florida’s exclusive business daily and official court newspaper. The article by shareholder John Catalano, which is titled “New Remote Online Notary Law Brings Notarization Process Into 21st Century in Florida,” discusses the ramifications of the new Florida law authorizing the use of remote online notarization to enable signers and notaries to use audio and video communications to notarize signatures. His article reads:

. . . The remote online notary (RON) process entails the use of a live two-way video conference, such as Skype, FaceTime or Google Hangouts, to meet the statutory personal appearance requirements for notarizations. Notaries and signers will be able to see the documents on their screens during the conferences, and they must follow specific procedures for identity proofing. This includes the use of data services to have signers answer questions requiring personal knowledge, and they may also use facial recognition services.

Notaries using RON must provide a clear video recording with audio of the notarial act along with a post-execution document record, and they must also utilize a comprehensive vendor security program to help ensure data security. They will use their electronic notary seal as well as their signature to secure documents against tampering, and they must retain recordings of the video conferences for at least five years.

Continue reading

January 15, 2019

Joseph Miles and Nicholas Siegfried Featured in Today’s Daily Business Review: “South Florida Lawyers Win $4.1M for Cable Company Fired Over Service Delays”

by Siegfried Rivera

Siegfried Rivera

The firm’s Joseph A. Miles and Nicholas D. Siegfried were featured in an article in today’s edition of the Daily Business Review, South Florida’s exclusive business daily and official court newspaper, about a major verdict that they recently secured for one of the firm’s clients. The article, which is titled “South Florida Lawyers Win $4.1M for Cable Company Fired Over Service Delays,” focuses on their work in securing the verdict for an affiliate of Miami-based OpticalTel in a case involving the company’s wrongful termination by a Central Florida HOA. The article reads:

Coral Gables lawyers Joseph A. Miles and Nicholas D. Siegfried landed a $4.1 million verdict for Miami-based company PC Services LLC, which claimed the Cascades of Groveland Homeowners’ Association Inc. in Lake County should never have terminated an agreement with the company because it wasn’t responsible for a flurry of delays and problems with services.

The 2012 lawsuit arose from years of bad blood between the parties over a deal that turned sour. On July 2007, the homeowner association terminated its contract with PC Services, claiming it had failed to properly do its job. But PC Services argued it had and lost the opportunity to make a profit on its $1.6 million investment.

The defense argued it was right to terminate the agreement because it didn’t get what PC Services promised.

Defense lawyers Aristides J. Diaz and Thomas R. Slaten Jr. of Larsen & Associates in Orlando did not respond to requests for comment before deadline.

Making the case was no small feat for the Siegfried Rivera lawyers, as it was laced with technical jargon that would likely stump the average juror.

September 7, 2018

Article by Oscar Rivera in Today’s Daily Business Review: “Appellate Court Strictly Construes FAR-BAR ‘As Is’ Residential Sales Contract”

by Siegfried Rivera

Siegfried Rivera

For the third time this week, an article by one of our firm’s attorneys was featured as the “Board of Contributors” guest commentary column in today’s edition of the Daily Business Review, South Florida’s exclusive business daily and official court newspaper. Today’s article, which is authored by shareholder Oscar R. Rivera, is titled “Appellate Court Strictly Construes FAR-BAR ‘As Is’ Residential Sales Contract.” It focuses on a recent appellate ruling that affirmed an $850,000 award for legal fees and costs in a dispute over a $2.85 million residential sale gone awry. Oscar’s article reads:

The ruling by the Third District Court of Appeal in Diaz v. Kosch, is certainly drawing quite a bit of industry attention, and there are a number of important takeaways from it for buyers, sellers and the professionals who work on their behalf.

The case stems from the sale of a Coral Gables home in 2012 for $2.85 million. After the sales contract was executed and the initial $50,000 deposit had been made, the buyers, who are identified in the ruling as both being “attorneys with substantial experience with real estate transactions and title matters,” notified their broker on the penultimate day of the 10-day inspection period about potential permitting issues with the property. On the following day, the buyers sent an email to the sellers accusing them of “active misrepresentations” and threatening “legal fees and litigation.”

Nonetheless, on the same date, the buyers made the second deposit of $235,000, stating it was “with full rights reserved.” A week and a half later, they emailed a notice of termination to the sellers, who were amendable to it and responded by imposing no conditions on the return of the buyers’ full deposit. However, apparently due to demands for a release from legal liability by the buyers’ own broker (who also served as the escrow agent), the deposit was not returned by the escrow agent.

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