Most Highly Regarded Firms: Texas 2008 - Real Estate
Times are tough in the real estate sector, and Texas is feeling the pinch as much as any other state.
Occupancy levels have decreased since 2007, despite the relative affordability of housing due to plentiful land and relatively liberal construction laws. Small firms - often the first to feel the pinch in testing times - managed, however, to stay in the picture alongside the big Texas players in this year's real estate research. Thirty-three lawyers appear in this edition, hailing from 20 firms - a testament to the continuing diversity of the market.
Vinson & Elkins LLP leads with four practitioners on our list. The firm's 45-lawyer real estate department displays "diverse expertise" across the practice area. Houston's Sanford Weiner topped the research yet again: lauded as "top, superb, the finest", the energy-sector work of this "fantastic real estate finance lawyer" was noted by competitors. He represented an investment vehicle in the purchase of a 1 million square foot downtown office building, and has acted for an energy company on the leveraged lease of its undivided offshore production platform interests. "Impressive" Dallas lawyer Randy Jurgensmeyer gained plaudits for his transactional work countrywide, representing investment funds, REITs, and individual and institutional investors in a wide range of matters. His recent work includes representing a REIT in acquiring a $300 million multi-state industrial portfolio. Michael Boulden is "a creative deal facilitator", whose experience encompasses construction and permanent lending on real estate as well as workouts, Islamic financing and ranch acquisitions among other matters. He has represented a credit card corporation in over 100 investments in companies and partnerships for real estate acquisition and development. Paul Martin completes the picture at V&E. A "respected leasing authority", he is recommended for his work on leasing disputes and heads up the group's leasing practice.
Baker Botts LLP is another large firm with a "formidable department", practising in one of its core areas. Peers praised the firm's "global outlook", it has successful national and international practices. Houston-based Robert Wright is "a star", noted for work on projects such as wind farms, pipelines, chemical facilities and power plants. His work in an advisory capacity on environmental matters in real estate transactions drew praise from his peers. Praised for his representation of owners, Jonathan Dunlay's development and leasing work extends to hotel, shopping centre and apartment projects as well as leases and related matters. He represented the owner in the financing of office buildings with mezzanine financing, equity and first lien debt. Marley Lott completes the firm's triumvirate of representatives. Her representation of the Hines company won praise from sources. Work for the company includes the construction, development, leasing and financing of over $3 billion of office products throughout the US.
Haynes and Boone LLP has a "top tier" practice, with six offices covering the state, offering an enviable presence in the market. "They are highly professional and know what is important in a deal", said one source. The firm's clients include Archon Group, Bank of America, Ericsson and Transworld Properties. The "great" Ann Saegert's candidacy for this chapter attracted a hugely enthusiastic response. She is immediate past chair of the firm's real estate section and her work includes representing institutional investors and corporate real estate users on office, industrial, special use and hotel portfolios as well as mixed projects. The "top notch" former managing partner, Robert Wilson, is "very knowledgeable and experienced", and especially well regarded in the field of real estate debt restructuring. Steven Waters is the firm's "excellent" real estate chair, whose special expertise in corporate facilities transactions and choice of entity and entity formation was noted.
Winstead PC has a "top flight" contingent of real estate lawyers and the firm is praised among other things for its "highly expert" treatment of condominium projects. Melvin Dow is "the go-to lawyer" for complex transactions, according to one source. Recent work includes a joint venture for the acquisition and ownership of a £350 million portfolio of shopping centres in Florida. Managing shareholder of the Houston office Greg Erwin is a "tenacious dealmaker", who represents clients such as New York-listed REITS, individuals and privately held development firms. Edward Peterson is "fabulous for condominium work" and is noted for his involvement in the Victory Development, which includes the W Hotel and other mixed-use properties, in Dallas.
Thompson & Knight LLP's 70-lawyer real estate practice possesses "enviable bench strength" and a wide array of clients, and has a "great reputation" for handling transactions in Mexico as well as throughout the United States. The firm represents HEB grocery stores throughout Mexico on the leasing and purchase of all its stores. Harry Roberts is "an outstanding member of the bar", noted for his leasing expertise as well as his complex transactional work. He represented the lender in a permanent real estate loan of $133 million secured by 81 properties. Lawrence Hicks also generated praise for his lender representation, as well as work for retail clients. He is regional real estate counsel for Nationwide Life Insurance Company.
Akin Gump Strauss Hauer & Feld LLP's real estate representation is concentrated in its Dallas office. The firm's real estate finance capability is noted as "terrific", especially its representation of REITs. Carl Lee is "a subtle, knowledgeable practitioner", whose real estate practice runs the gamut of transactions. Randall Ratner's practice encompasses hotel, office, industrial, multi-use and movie theatre projects, to name but a few. Locke Lord Bissell & Liddell LLP's Billie Ellis is "a must for any list on the practice area", acting on the full gamut of real estate transactions. Stephen Jacobs is "a terrific finance partner", especially noted for his local development work.
Fulbright & Jaworksi LLP has a long-established real estate department and is consistently recommended for its work in the manufacturing sector, as well as for health-care and retail property practices. The "esteemed" John Hollyfield is "a dean of the State Bar" and works on leasing, development and commercial and industrial properties, among other matters. Robert Converse heads the firm's Austin real estate practice and counsels US and international organisations, developers and institutions. DLA Piper LLP's Philip Weller is an "excellent" practitioner, whose recent matters include the acquisition of the 1400 Smith Building in Houston for Brookfield Properties. Hunton & Williams LLP's James Wallenstein is "top notch" and "deserves recognition", according to interviewees. Robert Harms Bliss practises at his own firm. Peers, who highlight his "tough negotiating style", see his "solid trial background" as an advantage. At "respected firm" Carrie Cramer & Weatherbie LLP, named partner David Weatherbie is a "force to be reckoned with"; Bracewell & Giuliani LLP's "excellent" Clark Thompson's commercial and industrial work is considered "among the best in the state"; and Andrew Campbell at Andrews Kurth LLP is reported to be "fantastic".
Barton Schneider & East LLP's Cary Barton is an "eminent figure" in the community. At Graves Dougherty Hearon & Moody, Terry Bray's expertise in entitlements and permits for development projects is noted among competitors. Jackson Walker LLP's Kurt Nondorf "stands out" to sources, who note his representation of large institutional clients in a range of transactions, as well as his work for one of the United States's largest REITs. He is also primary real estate counsel to Texas Medical Centre.
Mayer Brown LLP's Marvin Katz "does a lot for the city", according to peers. Greenberg Traurig LLP's Kent Newsome, who joined the firm from Fulbright & Jaworski LLP, is "excellent" for commercial and retail work. His recent work includes the first retail centre in Houston with stacked anchor tenants. Johnson Deluca Kennedy & Kurisky PC's Richard Spencer rounds off this listing of Texas's top real estate attorneys, recommended as "an astute, experienced lawyer".