Fried Frank Beefs Up REIT Practice With Hogan Lovells Pair
Stuart Barr and Cameron Cosby are joining Fried Frank in Washington, D.C., where Barr will lead the firm's REIT practice.
January 14, 2019 at 02:37 PM
3 minute read
Fried, Frank, Harris, Shriver & Jacobson added a pair of Washington, D.C.-based partners who specialize in real estate investment trusts, Stuart Barr and Cameron Cosby, from Hogan Lovells.
Barr will serve as head of Fried Frank's REIT practice. Crosby, who joined Hogan Lovells in 2013 from Hunton & Williams, will join Fried Frank's tax practice.
“As leaders in the REIT space and combining that with Fried Frank's leading practices in real estate and private equity, finance and tax, we're very excited about what we think we can do together by combining all of those strengths,” Barr said.
Barr represents issuer and underwriter clients on public equity and debt offerings, including initial public offerings. He also represents public REITs and private real estate companies on M&A and other transactions. Notable past deals include Empire State Building owner Malkin Holdings' IPO in 2013 and Landmark Apartment Trust, Inc.'s $1.9 billion sale to Starwood Capital Group and Milestone Apartments Real Estate Investment Trust in 2016.
In their new roles at the firm, Barr and Crosby will work closely with the Fried Frank's capital markets, M&A, tax, and real estate practices to represent REIT clients.
“Stuart and Cam's extensive REIT experience will help further augment our current practice and provide our clients in this space with sophisticated legal counsel on their most complex needs,” said Fried Frank chair David Greenwald in a statement. “I am thrilled to welcome them to the firm.”
The duo has handled a long string of REIT-related transactions over the last several years, including three of the five largest REIT IPOs in history, including the $2.6 billion IPO of Paramount Group Inc. in 2015, the biggest deal in real estate investment trusts history.
“By combining the strength that we have I think we are uniquely positioned to provide market-leading advice in both the real estate REIT and private equity areas and tax,” Barr said. “I don't think there's any other firm that has that combination of strengths.”
The addition of Barr and Cosby, as well as the recent addition of Norton Rose Fulbright corporate partner Ian Lopez in London, aligns with a strategic shift implemented by Greenwald that saw the Wall Street firm target high-end work in six core practice areas: M&A, private equity, real estate, finance, capital markets and asset management.
Since its implementation in 2014, the firm has seen record revenue growth. It also, after overhauling its compensation system, has seen its profits per partner jump to $2.94 million while its nonequity partner ranks tripled.
Correction: An earlier version of this story erroneously attributed REIT-related transactions including the IPO of Paramount Group Inc. to Fried Frank.
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