Alex Dimock and Sam Murphy, real estate and finance partners, have joined Bracewell in Dallas from Holland & Knight. They will focus their practices on distressed commercial real estate, CMBS loan workouts and restructurings, according to a news release.
Before joining Bracewell, Dimock and Murphy practiced at Holland & Knight, where they built a national practice advising financial institutions, servicers, private equity funds and high-net worth individuals on complex real estate transactions and disputes. Their work spans loan workouts, restructurings, foreclosures, receiverships and litigation in state and federal courts. Dimock has experience handling matters from trial through appeal across the country, while Murphy has advised lenders, banks, and debt funds on loan originations, workouts and recovery strategies, including bridge and permanent financings and REO dispositions.
“Alex and Sam are two of the nation’s top practitioners in the distressed commercial real estate and CMBS restructuring space, and I’m excited for them to join Bracewell,” said Gregory M. Bopp, managing partner of Bracewell. “Their market-leading practice complements our real estate, finance and litigation teams and broadens our capabilities in the U.S. commercial real estate market.”
Bracewell has been expanding its real estate, finance, and litigation capabilities in Texas and nationally, with the addition of Dimock and Murphy marking the launch of its real estate special situations practice amid increasing demand tied to upcoming CMBS maturities.
AREAS OF FOCUS
Dimock and Murphy advise financial institutions, servicers, lenders, private equity funds and high net worth individuals on distressed commercial real estate matters including CMBS loan workouts, restructurings, enforcement actions, foreclosures, receiverships, bankruptcy proceedings and complex litigation across state and federal courts.
EDUCATION
Dimock earned his law degree from Duke University in 2014 and his undergraduate degree from the University of North Carolina at Greensboro in 2010. Murphy earned his law degree from Sothern Methodist University in 2017 and his undergraduate degrees from SMU in 2011.
The Texas Lawbook asked Dimock and Murphy recently to share their thoughts about the move to Bracewell, trends they’re seeing and more:
The Texas Lawbook: What was the connection with your new firm that initially led to discussions about you joining the team and how did it start?
Alex Dimock: We’ve been close with many Bracewell lawyers for years. We began our careers at Thompson & Knight with current and former Bracewell rockstars, including Wilson Jones, Brett Rector, Anna Wortham, Dean Hinderliter and others. Wilson’s healthcare practice is similar, in many respects, to our practice. For example, both of our practices include a relatively high volume of matters, for highly sophisticated clients, in specialized industries that demand specific expertise and institutional knowledge. Wilson’s practice has succeeded mightily on the Bracewell platform. We are excited to repeat that success for both Bracewell and the Real Estate Special Situations Team.
Additionally, Bracewell’s philosophy just jibes with ours: Surround yourself with great people and excellent lawyers. Serve those great people in every way possible to promote relationship, growth and the staying power that leads to deep institutional knowledge. Don’t attempt to be everything to everybody everywhere but rather be excellent at everything we do choose to put our hands to.
The Lawbook: What are two or three of the most important trends that you are seeing in your practice area?
Sam Murphy: There is roughly $1 trillion in commercial real estate debt coming due in 2026. Much of that was originated in a completely different interest rate environment. We have performing projects with solid cash flow that simply won’t be able to re-finance into today’s rates. Something will have to change. Navigating those challenges, especially for large and complex projects will be an exciting challenge.
Along those same lines, during previous down cycles, we had regional banks step into the breach and provide liquidity for distressed projects. The Federal Reserve and others have reporting that a third of that debt is on regional bank balance sheets. Those banks may struggle to handle the transition.
The Lawbook: How is AI impacting your practice and how you work with clients?
Murphy: It seems that most folks think AI is either the greatest thing that’s ever happened or the start of The Terminator. Like most inventions it’s likely somewhere in between. It has some powerful analytical applications especially in modeling and collating data. However, we are seeing people relying too heavily on it and getting their hand slapped. We’ve cautioned clients about the potential privilege issues with using non-proprietary AI internally or as a summary/note-taker on conference calls.
The Lawbook: Are there specific pro bono efforts or public service projects that mean the most to you?
Murphy: I’m primarily concerned with people’s basic needs. I’ve been involved with pro bono and charitable projects centered around housing, nutrition and education. I regularly volunteer with HomePoint, which offers a local landlord tenant clinic in Dallas a few times a month. I think when people have their basic needs met, they can focus on being the best version of themselves instead of just surviving. That benefits everyone.