by Andrew McIntyre
When the housing boom was in full force a decade ago, Polsinelli PC had only one real estate lawyer in New York, but now, thanks in part to the firm’s deep roots in the commercial mortgage-backed securities space, the firm has grown that number to 10.
The Kansas City, Missouri-based firm had been doing ample CMBS work in the years leading up to the 2008 market crash, but at the time it was doing most of that work from Kansas City.
But when CMBS started to recover in 2011, following three years of little activity, the firm set its sights on New York, and the following year it started a major push into the New York market.
“We started in New York in 2003. I called it a trade mission,” Dan Flanigan
, chair of the firm's real estate and financial services group, told Law360 in a recent interview. “It was just me coming up there, working out of an office. Networking with the investment banks. It was primarily to support the CMBS business.”
“Starting in 2012, we decided to get real in New York," he added. "In 2012 we adopted a new business plan to become real in New York."
Law360 subscribers can read the full article here