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HM101 – Leased Properties

Presented by Michael Fahey, MIT Real Estate Office. HM101 – Leased Properties. F S I L Gs With Leasehold Interest in MIT Owned Real Estate. Alpha Chi Omega, 478 Comm. Ave., Boston Sigma Kappa, 480 Comm. Ave., Boston Alpha Phi, 477 Comm. Ave., Boston Zeta Psi, 233 Mass. Ave., Cambridge

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HM101 – Leased Properties

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  1. Presented by Michael Fahey, MIT Real Estate Office HM101 – Leased Properties

  2. F S I L GsWith Leasehold Interest in MIT Owned Real Estate • Alpha Chi Omega, 478 Comm. Ave., Boston • Sigma Kappa, 480 Comm. Ave., Boston • Alpha Phi, 477 Comm. Ave., Boston • Zeta Psi, 233 Mass. Ave., Cambridge • Women’s Independent Living Group, 353 Mass. Ave., Cambridge • Alpha Delta Phi, 351 Mass. Ave., Cambridge • Alpha Tau Omega, 405 Memorial Dr., Cambridge • Kappa Sigma, 407 Memorial Dr., Cambridge

  3. Meeting Objective • Describe the Real Estate Office Role Related to FSILG Leases • Lease Contract Oversight on Behalf of Institute • Provide Overview of Major and Recurring Tenant Responsibilities • All maintenance, repair, and replacement by Tenant • Pay rent as stipulated in the lease • Make Landlord contact very early in the process if you plan to undertake structural or exterior improvements

  4. Meeting Objective, Pg. 2 • Fulfill the insurance requirements contained in the lease • Provide Landlord Contact Information For Lease Administration and Lease Interpretation Assistance • Meredith & Grew, Inc., Lease Administration Agent • MIT Real Estate Office, Lease Interpretation Assistance

  5. Basic Lease Structure • Typical Lease Arrangements • Alpha Chi Omega, 478 Comm. Ave., Boston • Sigma Kappa, 480 Comm. Ave., Boston • Alpha Phi, 477 Comm. Ave., Boston • Zeta Psi, 233 Mass. Ave., Cambridge

  6. Basic Lease Structure, Pg. 2 • Lease Arrangements with Option to Purchase • Women’s Independent Living Group, 353 Mass. Ave., Cambridge • Alpha Delta Phi, 351 Mass. Ave., Cambridge • Ground Leases • Alpha Tau Omega, 405 Memorial Dr., Cambridge • Kappa Sigma, 407 Memorial Dr., Cambridge

  7. Landlord Lease Administration Entities • Generally, Meredith & Grew, Inc. Administers • Rent Collection • Real Estate Tax Matters • Insurance Matters • MIT Real Estate Office • Lease Interpretation Assistance • Review and approval of Capital Projects with the assistance of Meredith & Grew, Inc.

  8. Landlord Lease Administration Entities • Meredith & Grew, Inc. • Jennifer Buckley, 617 864 2102 jlbuckley@m-g.com • Jo Ann Merlino-Rogers, 617 864 2102 jmrogers@m-g.com • MIT Real Estate Office • Jane Roberts-Kopp 617 253 430 jer@mit.edu • Mike Fahey, 617 258 5771 mfahey@mit.edu

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