BakerHostetler announced today it will open a full-service office in Austin, Texas, on Jan. 1, 2025, further expanding its presence in the state. The Austin office will be BakerHostetler’s 18th in the United States and the third in Texas, joining its other Texas locations, in Houston and Dallas.
The Austin office opening will coincide with the addition of 10 highly accomplished transactional lawyers who will also join the firm on Jan. 1. The team, joining from an Am Law 100 firm, will bolster BakerHostetler’s current affordable housing and real estate capabilities.
Cynthia Bast, who will serve as the Austin office Partner-in-Charge, is nationally renowned for her affordable housing development and finance practice. She has extensive experience representing for-profit and nonprofit developers and other participants in the affordable housing industry on transactional matters, utilizing specialized local, state and federal programs. In addition, Bast counsels clients on complex regulatory matters and renders public policy advice on legislative and rulemaking initiatives. For more than 30 years, she has been a leader in the affordable housing industry; she has received multiple recognitions, including the prestigious Jean MacDonald Lifetime Achievement Award from the Texas Affiliation of Affordable Housing Providers.
“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.”
“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.”
Bast, along with current BakerHostetler partner Nathan Ware will co-lead the firm’s new Community Development practice team which will bring together current BakerHostetler attorneys, who have affordable housing, community development and tax credit capabilities, with the skillsets of the new attorneys joining the firm on Jan. 1. Together, this dynamic group will create a one-stop destination for clients looking for counsel on all types and forms of federal, state and local tax credit or governmental financing options, including affordable housing tax credits and incentives, historic tax credits, new markets tax credits, and renewable energy tax credits.
“The addition of this impressive team of lawyers strategically enhances the depth and strength of our existing real estate and affordable housing and community development practices,” said John Allotta, chair of the firm’s Business Practice Group. “Affordable housing developments have become more important and will be a key area of real estate development in the near- and the long-term future. With the combination of our experience in affordable housing and community development, historic tax credits, new markets tax credits, and other governmental-based financing options, we can provide a complete slate of financing options to new and prospective developers, owners and investors.”
In addition to Bast, also joining BakerHostetler are partners Rick Morrow, Victoria de Lisle, Chris Schrauff, Matthew Borah and Raj Bandla, along with attorneys Chris Richardson, Sam Hagerty, Kim Loesche and Christianna Goldman Smith. Current BakerHostetler merger and acquisition and private equity partner Mark Ramzy will also join the new lawyers in launching the Austin office.
Rick Morrow represents clients in the acquisition, development, financing and management of affordable housing. His vast experience allows him to navigate complex financing transactions utilizing low-income housing tax credits, Housing and Urban Development- and Federal Housing Administration-insured loans and programs, tax-exempt bonds, Fannie Mae and Freddie Mac multifamily loan programs, and other federal, state and local government subsidies and financing sources.
Victoria de Lisle has a wide-ranging practice that focuses on matters involving affordable housing transactions across the U.S., as well as commercial real estate, bond finance, traditional lending and project development in the energy, transportation and industrial spaces, tax credit transactions, distressed assets, and partnership restructuring. She works with corporations and financial institutions in the U.S. and abroad, including both privately held and publicly traded entities.
Chris Schrauff has a transactional practice focused on affordable housing and community development. He also assists private equity investors, lenders and developers as part of his commercial real estate and real estate finance practice. He is particularly skilled at handling secured loans, corporate loans, asset-based loans and loan portfolio transactions as well as acquisitions and dispositions of real estate and equity interests. He will be based in BakerHostetler’s Dallas office.
Matthew Borah represents for-profit and nonprofit developers in the acquisition, development, financing and disposition of affordable housing properties. Clients turn to him to negotiate complex purchase and sale agreements; loan documents, including Fannie Mae, Freddie Mac and HUD financings; ground leases; and other documents related to the development of affordable housing. Borah also has experience representing lenders on commercial real estate transactions.
Raj Bandla focuses his practice on matters relating to affordable housing and economic development. He has vast experience representing parties on all sides of affordable housing financings, including institutional investors, developers, governmental agencies, nonprofits and lenders. Bandla advises clients on a wide range of matters, including corporate and governance issues, asset management, and transactional matters ranging from acquisitions, dispositions and refinancings to fund formations. He also helps investors and developers with projects qualifying for benefits under the federal Opportunity Zones program. Bandla will be based in BakerHostetler’s Chicago office.
Chris Richardson works with clients on a wide array of affordable housing matters, including ownership structuring, negotiation of financing documents for equity investment and other capital sources, and regulatory compliance. She also regularly advises clients on property tax and other local tax exemptions.
Sam Hagerty represents clients in a wide range of affordable housing finance transactions and has distinct experience representing nonprofit organizations. Sam also advises on matters related to property tax exemptions and state agency regulatory compliance matters.
Kim Loesche helps clients with the acquisition, disposition and financing of affordable housing, managing closings and assisting clients through various regulatory processes with local and state agencies.
Christianna Goldman Smith is recently licensed and assists the team with diligence, drafting, organizing and researching for our affordable housing clients.
For more information on BakerHostetler, please visit bakerlaw.com. Connect with us on X, formerly known as Twitter, at @BakerHostetler or on LinkedIn @BakerHostetler, @PaulSchmidt @JohnAllotta or @CynthiaBast.
About BakerHostetler
BakerHostetler helps clients around the world address their most complex and critical business and regulatory issues. Our highly ranked attorneys deliver sophisticated counsel and outstanding client service. We have six core practice groups — Business, Digital Assets and Data Management, Intellectual Property, Labor and Employment, Litigation, and Tax — and more than 1,000 lawyers coast to coast.
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