I am currently negotiating an LOI for a manufacturing company that uses a facility on 1.5 acres of a 3 acre lot (1.5 acres is an empty plot). The business owner owns 100% of the company and the 3 acres (real estate is held in a separate entity). He is intent on a specific valuation for the business that is higher than I am willing to pay and he is leaning toward holding onto the real estate. I intend to request a locked in lower rent for a 5-year period to boost the near-term cash flow in an effort to get the owner the valuation he is looking for (or closer to it). Does anyone have any other thoughts on other levers available in this negotiation related to the real estate? Maybe an option to buy the RE at a certain price after five years or something related to the future development of the empty 1.5 acre plot? Anything I should be careful agreeing to in this situation? Additional context: the owner is 86 years old and wants as much cash upfront as possible. Not sure why he is learning toward holding onto the real estate and not just offering to sell it to me....