Finally, some good news for real estate lawyers. Recent months have seen several multibillion-dollar property deals, including Fried, Frank, Harris, Shriver & Jacobson representing Google Inc. in its $1.9 billion acquisition of new headquarters in New York, and three deals with a combined value of $25 billion on a single day, February 28, for Skadden, Arps, Slate, Meagher & Flom. Throw in an uptick in commercial mortgage–backed securities (CMBS) and some distressed asset and restructuring work left over from the recession, and real estate lawyers are suddenly busier than they’ve been in years.
What’s more, law firms seem to be hiring real estate specialists again—albeit cautiously. In early February, Pillsbury Winthrop Shaw Pittman brought in five real estate attorneys from Orrick, Herrington & Sutcliffe. DLA Piper acquired a group of six real estate attorneys from Epstein Becker & Green, including former national real estate chair Maxine Hicks. Other firms that have hired lateral real estate partners include Morrison & Foerster, Latham & Watkins, Venable, Seyfarth Shaw, and SNR Denton.
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