Venable hired five lawyers to its real estate group, led by three partners based in Washington DC, New York and Baltimore. The group was formerly at WilmerHale and has a combined 42 years of experience.
The partners who joined the firm are Thomas E.D. Millspaugh, Brian Gurtman, and Patrick Lincoln, aside from two associates named Kamaal Warren Jones and Joseph Creech.
They bring a diversified practice that includes counseling on real estate joint ventures, acquisitions and dispositions, leasing, development and financing, such as workout and restructuring, deals. They also handle transactions across the range of property types, such as office, industrial, multifamily, retail, senior living, hospitality and mixed-use properties.
The group has worked on numerous multi-state property deals and has been long-time counsel to several of the biggest investment management firms in real estate. They have also advised pension funds and other institutional investors, fund advisors, developers, corporate property owners and private equity investors.
“Our existing practice has set a high bar in handling major transactions and financings, as well as litigation and bankruptcy matters. Ted Millspaugh and his colleagues work on behalf of world-class clients make them a natural fit for us and significantly enhance our practice. It is no accident that the group has managed to succeed throughout all cycles of the market,” said Kevin Shepherd, co-chair of Venable’s real estate practice group.
“The last two years have been particularly tumultuous for virtually anyone touching the real estate industry," Millspaugh said. "As a result, our clients have looked to us to provide strategic advice that is more valuable than ever, not only on their existing projects which have been challenged by the recent financial crises, but also on new deals in the ultra-competitive marketplace. Venable provides a terrific platform from which to serve these important players in the business.”
He cited the Mid-Atlantic market's strength and the expanded megalopolis from Richmond to New York that seem to be outperforming many of the country's other large metropolitan regions.
Venable's release on the hires cited a recent report by Jones Lang LaSalle that showed Washington, D.C. far outpacing all other major commercial hubs. These findings are based on occupancy rates, rental rates, and new construction.
“Between the federal government’s need for space as well as the influx of professional firms and companies that do business with the government, Washington remains one of the country’s bright spots in the commercial property business," Millspaugh said. “Not only does Venable have one of the most robust real estate practices in the District, but its eminence in the field reaches across the U.S.”