X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Epstein, Becker & Green, known for its health care practice, will more than double the size of its Altanta office when it acquires a local firm that focuses on real estate work. On May 1, the New York- and Washington-based Epstein, Becker will acquire Atlanta’s Cofer, Beauchamp, Stradley & Hicks. The move will take Epstein Becker’s local shop from 11 lawyers to 24. Firmwide, Epstein Becker has 300 attorneys in 10 offices. Epstein Becker’s local managing partner, Richard H. Vincent, acknowledges that for his firm, which also is known for labor and employment work, “It’s not intuitively obvious why real estate would fit in.” The combination works, he says, because “we do a lot of work in the health care area, and we have also traditionally done a lot of work in the retail real estate area. Usually the biggest asset a hospital has is its real estate portfolio.” M. Maxine Hicks, the managing partner of Cofer Beauchamp, says her firm also does work on planned community and resort real estate developments. Its other areas of focus are international transactions and litigation. Epstein Becker came to Atlanta about 1-1/2 years ago, when it acquired the 10-lawyer Vincent, Berg, Stalzer & Menendez. Last year, according to Vincent, his firm had revenues of about $122 million and profits per equity shareholder of more than $500,000. Hicks says her firm’s 2000 revenues (their fiscal year doesn’t end until September) will be $4.2 million to $4.4 million, and its equity partner profits are about $350,000. Hicks says her firm was attracted to Epstein Becker because of its size and broader range of practice areas. As a small firm Cofer Beauchamp has had to outsource intellectual property, corporate tax and some significant litigation work either because it didn’t have the needed practice areas or because its lawyers were busy with other matters. “We compete, particularly in the three practice areas that we have … with national and large firms, not small,” she says. “It makes it extremely difficult to do that if you can’t recruit and retain talent.” Hicks says she thinks recruiting will be easier because Epstein Becker offers offices around the country that young lawyers can transfer to, and because of its array of practice areas. J. Lindsay Stradley Jr., a name partner at Cofer Beauchamp, says his firm also wanted to be part of Epstein Becker because it will be at the center of the much larger firm’s real estate practice. Up to now, that practice has been primarily run out of New York and Boston, he says. Clients include Pathway Communities, AEGON USA Realty Advisors, Bluegreen Corporation and Children’s Healthcare of Atlanta, according to Stradley. On Thursday afternoon, the firms met for an informal get-to-know-you party — not in the bar at the Ritz, not over pasta at Veni Vidi Vici. They met at ESPN Zone in Buckhead, Ga. Hicks says the firms wanted to do some team building that included staff, not just lawyers, and have some fun to begin cementing the union. Vincent acknowledges that the party locale provides insight into the firms’ cultures, at least in the context of duck-pin bowling: “We’re internally competitive,” he says.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.