BakerHostetler announced Tuesday that it will kick off 2025 in style by opening its 18th office nationwide and its third in Texas, which will include adding ten transactional lawyers from Locke Lord.
On Jan. 1, the new full-service office in Austin will expand the firm’s presence across the state, complementing its established presence in Houston and Dallas, and will be led by longtime Locke Lord partner Cynthia Bast. She brings her affordable housing industry skills to co-lead a new community development team at BakerHostetler with current partner Nathan Ware.
According to a news release, BakerHostetler’s community development team will combine current attorneys with new affordable housing lawyers to offer comprehensive counsel on federal, state, and local tax credits and financing options, including affordable housing, historic, new markets, and renewable energy tax credits and more.
In addition to Bast, also joining the new Austin office from Locke Lord will be partners Rick Morrow, Victoria de Lisle, Chris Schrauff, Matthew Borah and Raj Bandla, along with Senior Counsel Chris Richardson and associates Sam Hagerty, Kim Loesche and Christianna Goldman Smith. Additionally, BakerHostetler partner Mark Ramzy will also join the lawyers lateraling over from Locke Lord to launch the Austin office.
BakerHostetler’s new office in Austin comes as the latest large Texas law firm merger nears for Locke Lord, which announced earlier this year a combination with Troutman Pepper. Locke Lord has struggled to grow and keep up with its competitors in recent years. Texas Lawbook 50 data shows that Locke Lord had 297 lawyers in its Texas offices in 2017 and revenues of $230 million.
In 2023, Locke Lord saw its lawyer headcount in Texas drop to 233, with Texas revenues of $221.6 million. Firmwide, Locke Lord reported 550 lawyers and $497.6 million in revenues, according to Texas Lawbook 50 data.
BakerHostetler saw its lawyer headcount in 2023 increase 5.6 percent to 113 and its 2023 Texas revenue increase 8.3 percent to $110 million.
“The opening of the Austin office and the arrival of this 10-lawyer team marks another important step in our corporate and Texas strategic growth strategies. Since 2019, we have added more than 120 lawyers in Dallas and Houston,” said Paul Schmidt, chairman of BakerHostetler. “Austin is one of the nation’s fastest-growing metropolitan areas and is home to important employers and clients. This exceptional group of lawyers will strengthen our presence in Texas and expand our real estate transactional capabilities nationwide; we are thrilled to have them join our firm.”
The new office and Bast’s extensive experience in those areas and the regulatory space will bolster the firm’s affordable housing and real estate capabilities, according to the release.
“We are excited to launch BakerHostetler’s Austin office and look forward to growing its influence in the city of Austin, the state of Texas and across the country,” said Bast. “Our team has developed a nationwide reputation for excellence in affordable housing, and we are eager to join forces with BakerHostetler’s excellent affordable housing, community development and tax credit finance teams. The firm’s platform is a tremendous fit, and we look forward to working with our new colleagues to provide comprehensive legal services for the affordable housing industry.”