McDermott Picks Up Real Estate Team As It Appears to be like to Increase in N.Y.
McDermott Will & Emery is selecting up a four-lover team for its real estate exercise, poaching from Orrick Herrington & Sutcliffe and other competition.
Marshall Brozost, the former head of Orrick’s New York authentic estate apply, is joining McDermott in Manhattan, the company said Tuesday. Orrick partner Alykhan ‘Aly’ Shivji and Morrison & Foerster’s Billy Hildbold are also signing up for McDermott’s New York workplace, even though Kirkland & Ellis spouse Justin Bender is joining the agency in Chicago.
McDermott, whose gross profits jumped far more than 20% to $1.67 billion in 2021, is looking to carry on to grow its transactional follow. The business is also developing its New York place of work, now found in One particular Vanderbilt in Midtown Manhattan.
“New York is probably our quantity a single enlargement place of work,” claimed Harris Siskind, international head of McDermott’s transactions observe. He stated the organization is focusing precisely on real estate lawyers and expects to have one more addition shortly.
Brozost, earlier a partner at Schulte Roth & Zabel and Dewey & LeBoeuf, represents institutional and private equity traders in complicated real estate transactions. His clientele have incorporated Condition Avenue World-wide Advisors, Phoenix Realty Group, Arel Cash and the Praedium Group.
Shivji, wh advises on all elements of professional actual estate expenditure, represented Cerberus Cash Administration and Chatham Lodging Belief in relationship with the $1.3 billion sale of the Innkeepers resort portfolio. Hildbold performs with customer in advanced commercial serious estate transactions and has represented money institutions in high-profile transactions for developments, including jobs in NYC’s Hudson Yards, Columbus Circle, and St. John’s Terminal.
Bender represented Starwood Money Team in its $5.37 billion offer to acquire more than 23,000 flats. He advised true estate expense have faith in Ventas in its acquisition of the life sciences and healthcare actual estate property of Wexford Science & Technological innovation LLC for $1.5 billion.
Bender reunites with former Kirkland colleague David Wolff, who jumped to McDermott a 12 months back and now heads its Chicago authentic estate practice.
McDermott’s genuine estate practice has an fairness focus—representing developers and others who consider equity positions in genuine estate projects—and a serious estate finance concentrate, Siskind mentioned.
“We have found an enlargement of that activity for us and so we imagine it is a energy of ours and adding more people today that have that concentration, I feel, just proceeds on that progress path,” he claimed.
