© 2016 The Texas Lawbook.
By Brooks Igo
(Jan. 26) – Norton Rose Fulbright recently announced that it has added real estate transactions pro Joshua Bernstein to its Austin and New York offices as a partner.
Bernstein lateraled over from Greenberg Traurig with associates Emily Jung and Katie Van Dyk. He credits U.S. Real Estate Head Jane Snoddy Smith, who he calls a “force,” and the firm’s reputation with clients as major reasons for moving his practice.
“There is really no better legal brand in Texas than Norton Rose Fulbright,” he said. “One of my clients said it best when he heard the new that we were moving: ‘I’ve always wanted to work there.’”
The University of Texas School of Law graduate has experience across all asset classes of real estate transactions – single-family, multi-family residential, industrial, office, retail, hotel and senior housing. He sees potential for growth in the real estate finance and private equity areas of his practice, particularly in New York.
Bernstein has a “massive” level of optimism for the Austin real estate market to continue its hot streak. He says the new project he is most excited about is The Grove at Shoal Creek, which his client is brining online this year, for its potential to “positively transform a huge swath” of near-North Austin.
“2017 will be a unique year in that we will not only see a number of marquis projects reach completion, but also a growing pipeline of interesting new ones will take shape,” he predicts.
Bernstein also described three trends he expects will play out in the year ahead: the continued growth of foreign investment in the U.S.; private equity firms expanding their target markets beyond the traditional coastal centers and more into cities like Austin; and increased hedging against a down-market by investing into areas of perceived stability such as hospitality, student housing and senior living.
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