The owner’s obligation under a right of first refusal is to provide the holder of the right seasonable disclosure of the terms of any bona fide third-party offer. See Sudbury v. Scott, 439 Mass. 288, 297, 787 N.E.2d 536 (2003). It is the prerogative of the holder then to decide whether to purchase the property at that price. 25 S. Williston, Contracts, supra.” Uno Rests., Inc. v. Boston Kenmore Realty Corp., 441 Mass. 376, 382-83, 805 N.E.2d 957, 962 (2004) (footnote omitted). At some point before June 24, 2011, LSREF2 Baron, LLC (“Baron”), offered to purchase a pool of assets owned by Regions, including the loan. “A right of first refusal is triggered by a bona fide third-party offer to purchase the property burdened by the right.” Uno Restaurants, 441 Mass. at 383, 805 N.E.2d at 962 (<HOLDING>). On June 24, 2011, Regions, pursuant to the
holding that when determining the proper amount for a burdened property that was purchased in a package only two methods suggest themselves as arguably appropriate 1 a determination of the fair market value of the  property burdened by the right of first refusal or 2 a determination of the portion of the  purchase price which based on the percentage of the fair market value of the entire package represented by the  property burdened by the right of first refusal should be allocated to the  property burdened by the right of first refusal holding right of first refusal only applied to a voluntary sale and taking of property by condemnation is involuntary therefore right of first refusal not triggered holding that for a transaction to constitute a sale and trigger a first right of refusal it must involve an armslength transaction resulting in an actual change in control of the burdened property rather than simply moving it from the individual owners to an entity controlled by them holding united states marshals involuntary bankruptcy sale of property did not trigger right of first refusal recognizing enforceability of right of first refusal when burdened property is part of integrated transaction with sale of unburdened property