Succession planning can be an important tool to facilitate the retirement of senior leaders, ensure a smooth leadership transition, and develop contingency plans for the sudden death or disability of senior executives. These concerns are particularly salient for family-owned firms and for smaller privately held firms where most equity partners are nearing retirement.

“Succession Planning for Commercial Real Estate Firms” by Wipfli LLP, will examine best practices in succession planning, with a focus on issues that are particular to real estate investment and development firms, such as how to manage loans that have been guaranteed by a retiring partner/owner or how to manage payouts to an exiting partner/owner without breaching financial covenants. The study draws from Wipfli’s past experience in succession planning, secondary research, and interviews with senior executives at real estate development and investment firms. The report will be released in March 2025.

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