Getting the More Complex Deals Done

Commercial real estate transactions are growing more complex amid market disruptions such as higher interest rates and waning demand for some assets. That’s creating new challenges for attorneys in particular. Read on for the legal angles re: these increasingly intricate deals.

And just a reminder that you can keep up with all the major leasing, financing and sales deals with Commercial Observer’s new Deals of the Week.

— Tom Acitelli, Deputy Editor

Commercial Real Estate Attorneys Navigate Increasingly Complex Transactions

Kramer Levin’s Jay Neveloff has seen commercial real estate deals take on many forms over the course of his 36 years at the law firm. When the complexity of transactions began to intensify recently, he decided to get proactive. Neveloff, chair of Kramer Levin’s real estate practice, focused hiring efforts in early 2024 around mid- to senior-level associates armed with the necessary experience to navigate the many moving parts of closing CRE deals amid a dislocated market. “A few months ago when we saw that the number of deals was increasing and they weren’t simple deals, we took stock and realized that we really needed more senior help,” Neveloff said. “We thought that was an opportunity in the market, because a lot of other law firms weren’t that busy, to pick up senior talented people who are better suited for what we expect our business will be like over the next year or two.”

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Check out our newest Deals of the Week, featuring the top commercial real estate transactions at a glance — plus a deep dive into the key players behind each transaction.

Next Jen: King & Spalding's Top Lawyers Have Their Hands Full in Today's Market

Aristotle once said, “The law is reason free from passion.” Well, try telling that to an industry notoriously scrappy about its commercial real estate when a coveted asset is up for grabs or at the center of a dispute. Still, in tumultuous markets, cool heads prevail, and if you’re a savvy investor, lender or developer in this once-in-a-cycle environment, you’ll get yourself a law firm that can handle both the good and the bad— whether you’re leaning into brand-new opportunities to add to your portfolio, or fighting tooth and nail to keep your building after a default. That firm might very well be King & Spalding, which leads complex business interests in more than 160 countries, via 1,300 lawyers across 24 offices. Of those 1,300 attorneys, the commercial real estate industry is likely familiar with two in particular who share the same first name, yet exhibit different skills, in New York City.

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